It Is Not Just The Poor Or Middle Class Which Is Taking On Lots Of Debt

There is a general wisdom spread among economists that the poor struggling with debt relative to the wealthy. A new report from Capital Economics, however, takes a different tact. US Chief Economist Paul Ashworth disputes this notion, asking and attempting to answer the question in a new report titled: “Are the poor drowning in debt as the rich get richer?” [klarman] Top income brackets accumulate more wealth, but they also have more debt, increasing debt-to-Income ratio for the elite, also The shrinking middle class over the last two decades, where incomes have been stagnant while the wealthiest in society take…