4 ms·
It means the divide between the rich and poor got even wider. The average person is poorer, can still buy basic staples, but is further than ever from being abl
by Traster 6y ago
It means the divide between the rich and poor got even wider. The average person is poorer, can still buy basic staples, but is further than ever from being able to buy any assets and would need to work significantly more to build up the cash that would let them buy assets. It also means that the wealth of those whose wealth is primarily derived from assets has gone up signficantly more than those who have a mix of assets and earnings. Or to put it another way - the super rich are crowding out the rich from asset ownership. In essence making it difficult to build wealth.