> Because private-equity firms appear frequently as villains in the press, many people assume that they cater mostly to the superrich, earning high returns on investments for billionaire clients. They do. But by far the most important piece of their business — 48 percent, according to the data-analytics firm Preqin — is investing capital for American pension funds.
This doesn't get mentioned often enough when talking about the "1-percenters" and the wealth gap in Western countries, i.e. that most of the capital behind all of the current economic and social system is directly or indirectly held by part of the general populace itself.
The issue is of course that the other part of the populace (generally speaking people under 35 who cannot put money towards their retirement funds or who can only get temp jobs) are not part of this financial arrangement and, as it so happens, are also some of the worst affected by the current economic set-up (those temp jobs I was mentioning are not as great as the normal full-time jobs held by people whose pension funds are managed by the companies investing in Cerberus).
Afaik almost no politician has focused on this social and economical contradiction, if I may call it this way, some of them are putting whole of the blame on the 1-percenters, some of them are choosing to ignore it all together, but almost no-one has actually looked at the real numbers. And the real numbers tell the story of a society divided in two, a part that will manage to enjoy its pension and the other part that has no clue how will pay for its old age.
This doesn't get mentioned often enough when talking about the "1-percenters" and the wealth gap in Western countries, i.e. that most of the capital behind all of the current economic and social system is directly or indirectly held by part of the general populace itself.
The issue is of course that the other part of the populace (generally speaking people under 35 who cannot put money towards their retirement funds or who can only get temp jobs) are not part of this financial arrangement and, as it so happens, are also some of the worst affected by the current economic set-up (those temp jobs I was mentioning are not as great as the normal full-time jobs held by people whose pension funds are managed by the companies investing in Cerberus).
Afaik almost no politician has focused on this social and economical contradiction, if I may call it this way, some of them are putting whole of the blame on the 1-percenters, some of them are choosing to ignore it all together, but almost no-one has actually looked at the real numbers. And the real numbers tell the story of a society divided in two, a part that will manage to enjoy its pension and the other part that has no clue how will pay for its old age.