No need to get that complicated, either of you. Median inflation-adjusted wages have been stagnant for _40_ years. Rich folks (like many of us here including me) have done great in that time. Poor people have done pretty badly and middle class people have gotten no gains whatsoever.
The tough thing is that trend has gone on through democratic and republican governments, war, peace, booms, and busts. It wasn't the tech bubble, it wasn't the housing crash, it wasn't the Iraq war (either of them) or the Challenger disaster or the founding of Coldplay or whatever other thing made an impression on you when you were impressionable - because the gains of the wealthy and non-gains of everyone else have continued through all of that, for essentially 2 generations now.
The interesting question is what (if anything) can be done about it.
Marx is laughing his ass off right now, I know that.
-W
If you have had investments in the stock market, you've generally been doing well through the Obama administration but if you are not saving and do not have investments, then you don't get to participate in that wealth building. So, the rich, including everybody here who is using a 401k or other investment vehicle, are getting richer.
Members of the 1% are both liberal and conservative.
I think there is a huge disconnect between people who live in wealthy areas and stay in wealthy areas than people who go into less affluent areas. I listen to a stock analyst who dumps on Wal*Mart regularly, but he doesn't go to Wal*mart. I have one nearby and I go there at least once a week. I see the people in the store, and many are obese, some have difficult mobility, many are elderly, more range of color. If I went to a Wal Mart 3 miles in another direction I would not see these people, I would see more young white attractive stay at home moms.
If you don't see the middle class people, I think you can forget about them relatively easily.
Note, when I go to the Wal Mart or the Dollar Tree -- the parking lots are busy, consistently busy. The stock analyst I hear complaining about WalMart doesn't see this. He shops on Amazon and likely goes to places like Nordstrom and Restoration Hardware.
Now, if your pay is low, you need WalMart and the Dollar Tree and they help you run your household cheaper.
Side note I was just watching a Netflix show about copuon savings that features British extreme savers. Everything is more glamorous with an English accent, even eating roadkill.
I once came across a young, black Aldi checker who was talking to her co-worker about taking a second 401k loan. I didn't, but I should have interrupted her and told her why it's a horrible idea!!!
Lastly, this is why I love Dave Ramsey. He talks to everybody about living on a budget and saving and investing money and climbing up the ladder. He helps people who have very difficult debt situations through either stupidity or things like medical disaster and disability. He's truly trying to help people and oftentimes people change their lives and get further ahead with the financial education he puts on the radio. And a lot of people need that kind of help, especially the people who are struggling.