It Is Not Just The Poor Or Middle Class Which Is Taking On Lots Of Debt

There is a general wisdom spread among economists that the poor struggling with debt relative to the wealthy. A new report from Capital Economics, however, takes a different tact. US Chief Economist Paul Ashworth disputes this notion, asking and attempting to answer the question in a new report titled: “Are the poor drowning in debt as the rich get richer?”

[klarman]

Top income brackets accumulate more wealth, but they also have more debt, increasing debt-to-Income ratio for the elite, also

The shrinking middle class over the last two decades, where incomes have been stagnant while the wealthiest in society take the lion’s share of the bounty, has been stark and undeniable. Arguably the...