Some 94 percent of Americans who reach “top 1 percent” income status will enjoy it for only a single year. Approximately 99 percent will lose their “top 1 percent” status within a decade.
Now consider the top 400 U.S. income-earners—a far more exclusive club than the top 1 percent. Between 1992 and 2013, 72 percent of the top 400 retained that title for no more than a year. Over 97 percent retained it for no more than a decade.
– Chelsea Follett, High Turnover Among America’s Rich
The Saudi Facade
Stay tuned. I’m not sure there has been a more incompetent regional military power as the Saudis since Italy in WWII. They have the 8th largest military budget in the world. The Saudis pour billions into their military for the very best state-of-the-art equipment...