«So far, the Trump Presidency has seen businesses flourish and employment grow, though the ongoing supportive role played by the Federal Reserve has undoubtedly played a part here as well, and
wealth inequality remains a prominent issue,» said Michael O'Sullivan, CIO for International Wealth Management at Credit Suisse.
Twenty - three years after the end of the racist, repressive apartheid regime, South Africa
remains a country with enormous resources and great
wealth but also massive
inequality and deep poverty.
During the recovery of the Great Recession, income
inequality in the United States accelerated, with 91 % of the gains going to the top 1 % of families.19 Left out of the recovery were African American families who, during the downturn, lost an average of 35 % of their accumulated
wealth.20 African American unemployment increased, home ownership decreased, and child poverty deepened to approximately 46 % of children younger than 6 years.21 Because social mobility is lowest for people in the lowest income quartile, half of African American children who are poor as young children will
remain poor as adults, approximately twice as many as white adults similarly exposed to poverty as children.22