Wealth Growth Below Average For All But Top 1 Percent

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James King has a short note responding to the viral Ray Dalio research note from a couple of weeks ago. In the note, Dalio points out that the top 40% is growing at a much faster clip than the top 60%. While this is true, it's also worth noting that the top 40% is actually growing at a rate below the national average if you exclude the top 1 percent from the group. This means that everyone is losing ground to the top 1 percent, even the upper middle class.