Without question, this long run of economic growth is unmatched in its resulting disparity. The upper crust has been served by it quite well. Paper wealth, in the form of rising stock and property prices, has concentrated upward in the hands of the noblesse. The balance sheets of the wealthy have never looked so good.
But down in the valley, where the pavement’s worn thin and the residential dwelling units are packed dense, a different reality presents itself. Here is the reality that the 2008-09 recession never really came to an end. Where incomes have stagnated and well-paying jobs, the kind that can support a family, are sparse. On top of that, large segments of the population have become hooked on government sponsored opioids.
