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Wealthy individuals may have been hiding as much as $32 trillion offshore at the end of 2010, according to Tax Justice Network, a U.K.-based organization that campaigns for transparency in the financial system. The estimate is almost three times the organization’s last estimate of $11.5 trillion in 2005. Fewer than 100,000 people own $9.8 trillion of offshore assets, according to the research, carried out by former McKinsey & Co. economist James Henry. There is a "huge black hole in the world economy" of untaxed private wealth, Henry said in a statement. "The lost tax revenue implied by our estimates is huge."

"These estimates reveal a staggering failure," says John Christensen of the Tax Justice Network. "Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people. This new data shows the exact opposite has happened: for three decades extraordinary wealth has been cascading into the offshore accounts of a tiny number of super-rich." ... In many cases, the total worth of these assets far exceeds the value of the overseas debts of the countries they came from.

We increasingly live in two worlds: the one where 99.9 percent of us live, and a separate, transnational society of the super-wealthy. One of whom we may elect to the presidency of the United States with the avowed intent of making those extremely wealthy people even wealthier.