The US Is Officially A Banana Republic, The US Now Has One Of The Smallest Middle Class In The World

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While the US has one one of the highest median incomes in the entire world, with only three countries boasting a higher income, it is who gets to collect this money that is the major problem, with just a 50% share of the population in middle-income households, the US is now in the same category as such "banana republics" as Turkey, or China. Even Mexico has a more robust middle class.
since November 2019 it has only gotten worse... much worse because as a result of the unprecedented wealth redistribution unleashed by the feds interventions, America's has truly cemented its banana republic status as the wealth of the top 1% exploded as a direct result of the Fed pumping trillions into the stock market and levitating asset values, while the lower and middle classes stagnated.
the latest US record household net worth number, which hit an all time high of $142 trillion or up $31 trillion since they began printing money, we showed that it would be great if this wealth increase was spread evenly across most Americans, but unfortunately, most Americans have not benefited from recent gains in wealth.
Indeed, the latest data as of Q1 shows that the top 1% accounts for over $41.5 trillion of total household net worth, with the number rising to over $90 trillion for just the top 10%. Meanwhile, the bottom half of the US population has virtually no assets at all. On a percentage basis, just the Top 1% now own a record 32.1% share of total US net worth, or $45.6 trillion. In other words, the richest Americans have never owned a greater share of US household income than they do, largely thanks to the Fed. Meanwhile, the bottom 50% own just 2% of all net worth, or a paltry $2.8 trillion. They do own most of the debt though