We have corporate profits that are really high. A lot of that money is going to shareholders in the form of stock buybacks and we're minting a whole lot of billionaires. Yet some of that profit could potentially be going to increase wages which would then elevate people possibly into the ranks. The sad fact of the American economy is that when times get tough, it's usually the people at the bottom of the economy who suffer most. It's that pathway to the middle class that gets broken.
Hello and welcome to The Big Take Podcast!
Today: The good news, and not so good news, about the US middle class. With inflation rising, the stock market ping-ponging and housing prices softening, that broad swath of Americans who form the backbone of the US economy are getting hit on all sides. Bloomberg reporters Shawn Donnan, Alex Tanzi, Claire Ballentine and Airielle Lowe teamed up to take a look at how middle-income Americans are doing. The answer: Not so badly, actually–at least on paper.
Even so, they’re worried about what’s next for them. And they have good reason to be.
Shawn sits down with Wes to share the results from their exclusive polling and what these precarious economic times mean for the fortunes of working Americans.
Learn more about this story here: https://bloom.bg/3faCxwM
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