Another Look at the American Middle Class

There’s been a persistent drumbeat of commentary over the past eight years – since the onset of the Financial Crisis of 2007 – that pertains to the demise of the American Middle Class.  It’s the start of a period that I refer to myself as The Great Reversion.  It’s framed within the context of a declining median family income as well as declining number of assets, backdropped against what is now the largest gap in wealth distribution since the Roaring Twenties, prior to the Great Depression.  But to consider the American Middle Class in such a light is too shallow, both in terms of what it is happening as well as how it came about.  What’s happening to the American Middle Class is not just an economic event.  To say that the American Middle Class will suddenly make a magical comeback with a

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