The perpetual discussion about the ongoing battle between rich and poor, between the one percent and the ninety-nine percent, has generated a great deal of heat, but not much light. With The Great Divergence: America’s Growing Inequality Crisis and What We Can Do About It, New Republic columnist Timothy Noah brings a well-reasoned array of high-wattage spotlights.
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Cory’s Chart Corner
In both directions. h/t @LanceRoberts
This is really pretty incredible.
US household holdings of equities and mutual funds reached a record 278% of disposable personal income in the second quarter of 2026, up from just 29% in 1982, amplifying the stock market’s influence on consumer spending and economic activity.
It does feel more and more like its a half-percent who really has it all. I was exiting our newest fancy high-end food market (Standard Market in Westmont, IL) and I spoke briefly to the young manager gal, and I told her its really all about the 1/2% who can afford to shop there. She looked at me for a second, laughed and said “I thought it was the 1%?” Then she said “well, gotta pay off these student loans!”