(Read the Full Article: Being In The Top 10% Really Is A Magic Salve Against The Recession)

Ordinarily I find breaking income inequality down into the top 1%, or the top 10%, or whatnot, a little frivolous—using dramatic or round numbers always makes a policy argument sound sloppy or arbitrary, as if we’re not really serious about this stuff, but just pitching what sells.

But now comes evidence that the precipitous drop in net worth of American families reported last week continued right up to the 89.9th percentile and then abruptly stopped… Read More.

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