America’s Inequality Problem Just Improved

Bloomberg: “Amid all the gloom of 2022, the most unequal of the world’s leading economies has gotten less so. The poorest half of Americans—the much-discussed but largely powerless US working class—are in the strongest financial position in a generation.”

“The bottom 50%, generally households with net worth of $166,000 or less before the pandemic, now hold a bigger share of the nation’s wealth than they’ve had for 20 years, the Federal Reserve estimates. Their collective net worth, $3.73 trillion, has almost doubled in two years and is more than 10 times higher than in 2011, the nadir after the last recession.”

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