National debt-$17.5T-roughly equals annual GDP, but the value of households far exceeds both at a record $85.7T. While gov't debt soared during the crisis, and corporate and household debt fell, now the situation has nearly reversed with business debt increasing faster than household or gov't debt.
The top 10% owns 77% of net worth and the top 1% owns 35%. The top 0.1% has net household wealth exceeding the bottom 90% - something not seen since the roaring 1920s, and that ended with the Great Depression.
"Gentle" solutions to such destructive wealth inequity include Federal debt-free money for public works, collection of the socially created economic rent, and better management of state and local assets through public banks and ending financial asset hoarding - but few politicians or those running for office seem aware of them.
At nextbigfuture.com
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