“Stagnating incomes, opportunity gaps, and fragile families are all reasons to worry about the middle class... After accounting for taxes and transfers, growth in average middle-class household incomes has lagged significantly behind the lowest and...the highest income quintiles.”
Diane Swonk added,----
Brookings Econ Verified account @BrookingsEcon
Government policy in recent decades has lifted many out of poverty and provided large tax cuts to the rich. But the middle class has lost out @isawhill says:
* 401k holders who did not attempt Market Timing on their own OR with professional help were hurt by the rosy scenarios painted by the supposed experts on the future
** see the Societe Generale warning in late November shown below this first table
November 21, 2018 --
Investors are showing signs of a “complacency bubble” that poses a risk for U.S. stocks, according to Albert Edwards, a global strategist at Societe Generale SA.
In a report last week, Edwards cited figures from a consumer survey by the University of Michigan on the probability of higher share prices during the next year.
Readings for the past four months were among the highest since the data were first collected in 2002.
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