The middle class is imploding in society after society. Even the vaunted Canadian and European middle classes, better protected by generous social contracts, are beginning to decline. The working class is fast becoming something like a caste of digital serfs, roaming from on demand gig to on demand gig, scavenging the landfill of prosperity for today’s ride, task, job, detritus.

https://eand.co/the-big-crash-54a178e6da8a

Unions role

According to the latest Fed data, the top 1% of Americans have a combined net worth of $34.2 trillion (or 30.4% of all household wealth in the U.S.), while the bottom 50% of the population holds just $2.1 trillion combined (or 1.9% of all wealth).

Issues with social mobility

U.S. Billionaires Gained $1 Trillion Since The Pandemic Started

Middle class mostly holding due to another bubble on housing market

In 2020, the energy per capita was about 279 million Btu, which is worse not only in 1995 (343 million Btu), but even 1970 (324 million Btu). The current level corresponds to about the mid-60s.

And Biden wants to lower it at least by 30-40%. To the 20s-30s times.