The Rich Are Even Richer

Bloomberg:

Philip Vermeulen, a senior economist at the European Central Bank, has produced a paper suggesting the top 1 percent in the U.S. and Europe own a much bigger share of national wealth than current surveys would suggest. In Germany, for example, he suggests 33 percent of the country’s riches are held by that thin top slice of society, compared with the 24 percent that survey data previously indicated.