>X-Sender: [EMAIL PROTECTED]
>Date: Tue, 20 Jul 1999 16:01:59 -0400
>Carl Iddings <[EMAIL PROTECTED]>
>>Subject: [Fwd: Fw: "Booming" US Economy (Fwd)]

>>>>Facts About The "Booming" U.S. Economy
>>>>
>>>>In the 1970s, the top 1 percent of households had about 20 percent of the
>>>>national wealth.  This was widely considered excessive.  Today, the number
>>>>is over 40 percent and climbing.
>>>>
>>>>Thirty years ago, about 10 percent of American households were broke, with
>>>>a net worth of zero or less.  fifteen years ago, the number was about 15
>>>>percent.  Today the number is almost 20 percent.
>>>>
>>>>Adjusting for inflation, blue-collar workers are making less than
>>>>they did a quarter-century ago.  The U.S. savings rate is now
>>>>negative 0.5 percent, the lowest level since the early Depression.
>>>>
>>>>Most Americans have a lower net worth than they did 15 years ago,
>>>>when the greatest stock market rally in history began.  the bottom
>>>>two-fifths of households have lost about 80 percent of their average
>>>>net worth.  The middle fifth has lost about 11 percent.  The richest
>>>>1 percent of America owns more wealth than the entire bottom 95
>>>>percent combined, and the inequality is increasing.
>>>>
>>>>Twenty years ago, a typical big-time corporate CEO was paid about 40 times
>>>>what an average worker received.  CEOs today are paid almost 420 times as
>>>>much.  As CEO of Genreal Electric, Jack Welch has eliminated 128,000 jobs.
>>>>But GE stock has appreciated about 40-fold, even adjusting for inflation.
>>>>So Jack Welch is paid $83.6 million.
>>>>
>>>>Meanwhile, after what economists will soon call the longest economic
>>>>expansion in U.S. history, 20 percent of all American children now
>>grow up
>>>>in poverty.  And Money magazine can write "Everyone's Getting Rich!" in
>>>>giant letters across the cover...
>>>>
>>>>(This is snipped from an article by Bob Harris in the new issue of
>>>>Extra!, the quarterly magazine published by Fairness and Accuracy in
>>>>Reporting. [ http://www.fair.org ]  The figures come from the economic
>>>>watchdog group United for a Fair Economy, whose reports can be found
>>>>online: http://www.stw.org
>>>>__________________________________________________________________________
>>__
>>>>
>>>>
>>>>
>>>
>>>
>+
>



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