I spotted a few articles today that describe the United States as having two economies. Here are the links:
Ray Dalio makes a case for viewing the U.S. as two economies (Financial Post)
Our Biggest Economic, Social, and Political Issue The Two Economies: The Top 40% and the Bottom 60% (ValueWalk)
The top 0.1% of American households hold the same amount of wealth as the bottom 90% (Business Insider Singapore)
The founder of the world’s largest hedge fund just shared brutal analysis of the US economy (Business Insider)
Jeff Cox, in this CNBC article entitled, “Ray Dalio: Middle class needs ‘wealth transfers’ to bridge income gap,” brings the problem into focus by highlighting this quote:
“The polarity in economics and living standards is contributing to greater political polarity,” Dalio wrote. “It is also leading to reduced trust and confidence in government, financial institutions, and the media, which is at or near 35-year lows.”