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Originally Posted by 9th Engineer
I have a personal theory that the size of the middle class in a healthy economy probably follows a sinusoidal pattern. ... We will have a generation that lives in poorer conditions and their children will be more ambitious in order to escape from it.
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If that were true, then baby boomers should be leaving a poorer American economy. Until recented perverted by George Jr voodoo economics, the baby boomers were finally eliminating massive American government and trade inbalances.
One curious fact: preceding the great depression, wealth began to concentrate among a few 'elite'. This never reoccurred in America (as the middle class grew in numbers and percentage) until recently. We are now witnessing again, a massive concentration of wealth among the few elites.
Whereas top management once earned 14 times the income of an average worker, today that number has climbed to something well over 300. Elitism has pushed massive wealth among the few. Incoming are now falling (inflation is higher than wage increases). And yet the super rich are increasing their percentage of the American pie.