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Redefining The Middle Class: It Isn’t What You Earn & Owe, It’s What You Own That Matters

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Redefining The Middle Class: It Isn’t What You Earn & Owe, It’s What You Own That Matters

Authored by Charles Hugh-Smith via OfTwoMinds blog,

No wonder the “middle class” has lost political power – it has lost the economic power of the ownership of productive assets.

Longtime correspondent Mark G. observed that the key phrase in yesterday’s excellent commentary by correspondent Ron G. is property-owning middle class. Mark wrote: “It appears to me that the income bracket method used today isn’t very informative.”

Here is Ron’s commentary again:

The Middle Class Is Shrinking — But Not Everywhere

“The American economy and people are not being served by a government that was designed to be a Democratic Republic, whose architecture and balance of power depended on a property-owning middle class to be the countervailing force against Oligarchy; given the irreversible nature of the market and technology that contributed to the…

View original post 608 more words

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