Redefining the Middle Class: It Isn't What You Earn and Owe, It's What You Own That Generates Income

oftwominds-Charles Hugh Smith:

No wonder the "middle class" has lost political power--it has lost the economic power of the ownership of productive assets.

Longtime correspondent Mark G. observed that the key phrase in yesterday's excellent commentary by correspondent Ron G. is property-owning middle class. Mark wrote: "It appears to me that the income bracket method used today isn't very informative."

Here is Ron's commentary again:

Cont.....