Friday, July 06, 2018


Americans are one crisis away from financial peril, according to a new book by Alissa Quart.

“It’s precarious,” she says. “They’re living on the edge of not knowing what’s going to happen next year.”

She explained, "We have in America the largest wealth inequality gap of 200 countries, according to a global wealth report in 2015. That’s the largest wealth inequality gap. And when the top 1 percent has so much more than even the top 10 percent, the middle class is financially and also mentally outclassed at every step. So I mean, I talked to someone who was making very low six figures, and you think, ‘Oh my gosh, that’s a wealthy person.’ … But he commuted hours each day. His wife was taking care of their three children, and they were trying to keep up in this incredibly expensive part of the country, you know, Silicon Valley."

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