How much money it takes to be “rich” varies from city to city.
About 20% of Americans are upper-income, or “rich,” meaning they earn at least two times the national median household income.
The amount of money it takes to be considered rich is largest in San Jose, California.
Continue reading… “How much money you have to earn to be considered rich in 42 major US cities”
In the last ten years, the increase in global imbalances has posed a theoretical challenge for international macroeconomics. Why did some less-developed countries with a higher need for capital, like China, lend to richer countries?
Continue reading… “Why some poorer countries lend to richer countries”
Rent has nearly doubled as a share of a poorer family’s spending.
Every year, the Bureau of Labor Statistics tells us what the typical American spends on everything from his rent to his reading material. There’s just one problem. In a country with growing income inequality, the typical American leaves out a lot of Americans.
Continue reading… “How rich and poor Americans spend money now and 30 years ago”
China has highest percentage of self-made billionaires in the world.
China is second only to the U.S. in sheer numbers of billionaires, with 157 billionaires compared to 515 in the states, according to a new report on the number of super-rich around the world.
Continue reading… “89% of China’s super-rich are self-made billionaires”
The Bureau of Labor Statistics has recently released their data on consumer expenditures for 2012. For the poor, food, clothes, and housing account for more than 60 percent of all spending. The rich have more left over for leisure, insurance, and savings.
Continue reading… “How Americans spent their money in 2012”
Study reveals rich people are more likely to cheat or behave badly.
While the poor might seem to have the most reason to cheat and steal, a new study shows that the rich are more likely to be dishonest.
Continue reading… “Rich people more likely to be dishonest: study”
It only takes $34,000 per person to be amid the richest 1% of people in the world.
There is a disproportionate amount of the world’s rich people living in the United States.
Continue reading… “Half of the world’s richest 1% live in America”
How rich are the superrich?
A huge share of the nation’s economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.
Continue reading… “11 charts that explain the financial inequality in America”
One loaded K-9!
He’s worth an estimated $145 million. He inherited his fortune from his father, who in turn had received the money from Karlotta Liebenstein when she died. Aside from spending his money on obvious things, he also purchased Madonna’s old Miami home and a rare white truffle worth $1644. His name is Gunther. And he’s a German Shepherd…
Continue reading… “The World’s Richest Animals”
The rich are back to pre-recession-style splurging.
A wider wedge is being driven between the wealthy and everybody else due to high gas prices. The rich are back to pre-recession-style splurging: Saks Fifth Avenue and Nordstrom customers are treating themselves to luxury items like $5,000 Hermes handbags and $700 Jimmy Choo shoes, and they’re paying full price.
Continue reading… “Gas Prices Widening Gap Between Wealthy and Everyone Else”
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