Happy days are here again for people in households with a net worth of at least $500,000.
By LEWIS W. DIUGUID
The Kansas City Star
The rest of America -- not so much. The bulk of people in this country never made it out of the crash-and-burn Great Recession of 2007, a Pew Research Center study reports.
But thats nothing new to the working and long-term unemployed folks in this country. People at the top of the wealth ladder saw a 21.2 percent gain in their net worth after the recession officially ended in 2009.
Everyone else lost 4.9 percent of their household wealth from 2009 to 2011. And is it any wonder?
Prices have continued to increase, however, persistent wage freezes, furloughs and unemployment have cut into peoples earnings. The stock market is recovering, but peoples investments and the equity they had in their homes suffered major setbacks.
The trend of folks at the top doing well while the middle and lower classes keep losing ground points to a continuing wealth gap in the United States with no end in sight.
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