> This does not imply causality as the author mistakenly assumes. Maybe the bottom 90% have more debt simply because costs are rising faster than wages and abil

> This does not imply causality as the author mistakenly assumes. Maybe the bottom 90% have more debt simply because costs are rising faster than wages and ability to save. Maybe the rich can save more because thy earn more. If it's easier to borrow money, costs will go up. Look at college education over the past half century, or housing vs interest rates. So if some people start taking on more debt than they should because it's easier, a lot of other people are pushed into it even if they wouldn't have originally when they're priced out by the borrowers.