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Thread: The Death of the Middle Class Is Worse Than You Think

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    The Death of the Middle Class Is Worse Than You Think

    Chris Matthews - Fortune

    From Brexit to Donald Trump, if there’s anything that current events tell us, it’s that the man on the street is angry and wants change. A new report from the McKinsey Global Institute, with the chilling title “Poorer than their Parents: Flat or Falling Incomes in Advanced Economies,” shows just why this is the case. According to the paper, the trend in stagnating or declining incomes for middle class workers is not just confined to the United States, but is a global phenomenon hurting workers across the wealthy world. The report found that as much as 70 percent of the households in 25 advanced economies saw their earnings drop in the past decade ... A huge swath of the world’s population, one that had been taught to expect their material wealth to grow through their lifetimes and across generations, has learned that this promise was a lie.
    http://fortune.com/2016/07/13/middle-class-death/

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    The US middle class and the American dream that came with it, represent postwar affluence to excess and the associated militarism and the like.

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