Wealth inequality continues, because nothing has risen to counteract it. The new data show:
- The top 10% own 90.9% of all stocks, so the stock market recovery is limited to a few.
- The bottom 40% have negative net worth, so they are paying or are at least liable for debt payments thereby limiting their progress.
- The middle class is bifurcating by those who might be able to invest more versus those who can’t get ahead of debt payments.
- The US was known for its equality, relative to the world, but it now has the largest inequality of the OECD countries.