OR a portion of the effect in addition to paper real estate wealth is that they're working more hours + overall pay increases for women. Note it's family net, not individual. Kinda hard to imagine that people are all of a sudden saving up after decades not doing so.
Also, if we link the mean graph from the same page, it's not quite as optimistic:
I would also argue that saving up isn't even necessarily a good thing. Witness Asia, esp Japan compared to the American middle class engine powered by buying crap.
Which percentile is losing real wealth?
If I appear to be ignoring your posts, it's probably because you are on my ignore list.
What I'm saying is that if out of every dollar of new wealth, the vast majority is going to the upper crust when it's created via those at the base, then it's a reflection of a systemic inequality.
Something is even more wrong when it's those at the bottom working more/better than before, yet this is mostly reflected in bottom line at the top.
IOW, our system is the very definition of trickle down: out of all the wealth, if you give enough to those in the castle, the serfs might get some better crumbs out of it, too. It takes a model-peasant mentality to defend this sort of ideal.
It's unclear where anybody ever got the idea that a free market results in low prices when the entire point of capitalism is to maximize profit and low prices are less profitable. Therefore the natural proclivity should be to collude and fix prices at the highest sustainable point.
Oh, it's illegal to collude and fix prices and whatnot as deemed by the gubmint? Who are they to say how a free market should work when it's a matter of divinity per Adam Smith whose book nobody bothered to read?
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