48% of the World’s 1% Are Americans

From theatlanticwire:

Americans Occupiers in Zuccotti Park made famous phrases like “the 1 percent” to protest wealth disparity within the U.S. — but the rest of the world can throw that term right back at us. As CNN points out today, World Bank economist Branko Milanovic writes in his book The Haves and the Have-Nots that 29 million of the 60 million people who constitute the top 1 percent of income earners globally (or 48 percent of [...]

In the Kakaesque world of “official” statistics No workers = Full Employment; No Jobs = Full Recovery

by RortyBomb

Unemployment fell sharply in the last two months, down to 9.0%. Much of that is due to a January reshuffling of the aggregate statistics. Little of that is due to the anemic job growth during that period. A good part, not discussed, is due to people simply dropping out of the labor force.

U3, the rate we refer [...]