The worst implication I see find (reading between the lines and via the graphs) is that our middle class consists of only 9.9% of the population. By subtraction, the middle class holds around 56% of the country's assets.
So our middle class is indeed shrinking but also moving towards being upper class.
What's left of the middle class is sort of becoming a "lower rich" class. While this is somewhat anecdotal, what I see emerging is a kind of banded stratification: a tiny "superclass" holding a majority (>50%) of all wealth, a "lower rich" class, a very small working middle, a vast working poor, and a vast class of unemployable welfare recipients.
Comments
The worst implication I see find (reading between the lines and via the graphs) is that our middle class consists of only 9.9% of the population. By subtraction, the middle class holds around 56% of the country's assets.
So our middle class is indeed shrinking but also moving towards being upper class.
What's left of the middle class is sort of becoming a "lower rich" class. While this is somewhat anecdotal, what I see emerging is a kind of banded stratification: a tiny "superclass" holding a majority (>50%) of all wealth, a "lower rich" class, a very small working middle, a vast working poor, and a vast class of unemployable welfare recipients.