Here’s more evidence the middle class is dead/dying

Via here:

Middle Class Wealth Gap

Read between the lines?

In the last three years, upper income Americans have increased their essential ‘nest egg’ by about $44K. The middle class? Stagnant.

Over the past three decades, the rich group — “upper income” above — has doubled their nest eggs; the middle class — “middle income” — has increased by 2.3 percent in the same time frame.

More here, including the idea that this is essentially a record high in terms of wealth gap.

In my mind, even though “middle class” is a very hard-to-define-and-means-different-things-to-different-people term, I would argue it’s pretty much a dead concept — especially in big cities. Inherited, kept wealth is everything nowadays. Way smarter people than I have noticed this.

Ted Bauer

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