The rich got richer. The working class got richer in this scenario too. They did not get poorer. Both scenarios are good things. There is nothing wrong with the rich getting richer because the rich getting richer does not mean the poor get poorer. Both can get richer in unison, especially when the cost of goods/services go down.
The average annual earnings of both male and female full-time workers actually declined last year, but that drop was offset in the national data by the increase in the number of people with jobs,” The New York Times points out.
Just over 60 percent of millennials with debt don’t know when, or if, they’ll ever be able to pay off what they owe.
The rich got richer. The working class got richer in this scenario too. They did not get poorer. Both scenarios are good things. There is nothing wrong with the rich getting richer because the rich getting richer does not mean the poor get poorer. Both can get richer in unison, especially when the cost of goods/services go down.
https://fredblog.stlouisfed.org/2019/10/households-lightening-debt-load/
https://www.cnbc.com/2019/01/11/millennials-households-earn-more-money-than-ever-heres-the-problem.html
https://www.bloomberg.com/news/articles/2019-01-11/u-s-core-inflation-holds-steady-as-energy-drags-down-main-index
The average annual earnings of both male and female full-time workers actually declined last year, but that drop was offset in the national data by the increase in the number of people with jobs,” The New York Times points out.
Just over 60 percent of millennials with debt don’t know when, or if, they’ll ever be able to pay off what they owe.