The material prosperity of the white and Asian populations of Anglo settler nations is remarkable. Only a tiny tax haven that doesn’t count the 50% of its workforce that lives just outside its border ranks higher.
Joe Weisenthal
@TheStalwart
Jul 5
Replying to @NewLeftEViews
This is why I think obsessing about the 1% is misplaced at least analytically. It might be ok politics, but it ignores the unbelievable material prosperity of the upper deciles, which really makes the US distinct.

Jul 5, 2026 · 7:37 PM UTC

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Replying to @bbalkus
Isn't a large amount of this the hugely inflated Boomer home prices in the desirable parts of the US, Canada, and Australia?
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Real estate is only ~25-30% of total US household asset versus 55-80% in most peer countries. Inflated home values are a global phenomenon, but this is particularly pronounced in Australia, Canada and the coastal U.S. At the median, housing accounts for 45% of net worth in the U.S (higher for black/hispanic households). What makes the U.S. unique is how much net worth is in equities due to 401Ks. Housing + 401K holdings is most of net worth for the average American. The biggest wealth driver is the average American benefiting from the U.S. stock market, whose gains have blown away the rest of the world for a long time.
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