The Recovery Threw the Middle-Class Dream Under a Benz
“Data from the Federal Reserve show that over the last decade and a half, the proportion of family income from wages has dropped from nearly 70 percent to just under 61 percent. It’s an extraordinary shift, driven largely by the investment profits of the very wealthy.
“In short, the people who possess tradable assets, especially stocks, have enjoyed a recovery that Americans dependent on savings or income from their weekly paycheck have yet to see. Ten years after the financial crisis, getting ahead by going to work every day seems quaint, akin to using the phone book to find a number or renting a video at Blockbuster.”
Bailouts of bankers, shareholders and investors helped set them off on a rebound that Americans who rely on savings or income from their weekly paycheck have yet to see.
via Facebook https://ift.tt/2O8Iyaq
through IFTTT
