By Charles Hugh Smith
OfTwoMinds.com
May 16, 2024
As a result, a significant percentage of households that are considered middle-class are one misfortune away from insolvency.
We can summarize the changes in our economy over the past two generations with one word: precarity, as life for the bottom 90% of American households has become far more precarious over the past 40 years, despite the rising GDP and "wealth" as measured in phantom capital.