Houston News

 

The Rich Are Getting Richer

The Rich Are Getting Richer

Are the rich getting richer? According to a new study, the answer is yes. But maybe you should save the anger for the top 1% and use it for the top .1%

 

That’s because they are making about  five million dollars a year more than the top 1%. Financial planner Richard Rosso explains why.

 

“The financial crisis and the Federal reserve has created a new class. Before you know it the middle class will be lower class,” Rosso told KTRH.

 

And who are the ones making all the money?

 

“Many in the financial industry are doing better since the crisis. They are the ones who continue to make quite a bit of money,” Rosso said.

 

It’s a phenomenon that author Michael Lewis recently said was rigged to insiders. And Rosso says he's right.

 

“It’s always been rigged,” Rosso stated.

 

And he says what Lewis is talking about isn’t breaking news.

 

“Markets are always rigged to a degree. It’s just whether or not you want to play the game,” Rosso explained, saying that Dallas Mavericks owner Mark Cuban first wrote about this years ago.

 

And if you want to do just as well, pay attention to what the super rich invest in. You might not make as much money, but you will see a good return on your investment.

 

 

More Articles