They’re Rich but Not Famous—and They’re Suddenly Everywhere - WSJ

kept by eddie mar 25

A rapidly growing class of Americans worth tens to hundreds of millions of dollars is reshaping the U.S. economy by driving luxury spending.

How Home Builders Are Skimping on the Basics, From Flimsier Cabinets to Fewer Windows - WSJ
Home builders are cutting costs by using cheaper materials like particle-board cabinets and fewer windows to maintain profits in a stagnant housing market.
also on Dow Jones & Company, #housing-market, #consumer-technology
The Hottest Stock Markets Lead to the Biggest Losses
A long-running study shows investor enthusiasm during hot markets has historically led to the worst cases of stock-market wealth destruction over the last 100 years.
also on #wealth-inequality
How to convert between wealth and income tax
Graham's attempt to equate a 1% wealth tax with a 20% income tax hike is widely rejected as misleading because it ignores that wealthy income comes from capital gains, not labor, and that the wealthy often pay little income tax.
also on #wealth-inequality