America’s Long-Term Challenge #4: Erosion of the Middle Class By Simon Black - June 04, 2018
We’ve all seen the headlines: the middle class in the United States (and much of Europe for that matter) has been in decline for years.
CNN May 18, 2018: “Almost half of US families can’t afford basics like rent and food” Marketwatch June 2, 2018: “50 million American households can’t even afford basic living expenses” Wall Street Journal February 13, 2018 : “US households shoulder record $13.15 trillion debt”
This is the opposite of what we’ve witnessed here in Asia– an astonishing, almost unprecedented rise in the middle class.
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