I was amazed to hear a bunch of people talking about a K shaped economy, so I had to go ask what it meant. It’s really quite simple. The rich are getting richer (the like of the K that is going up) and the poor get poorer (the line of the K that’s going down) and the middle class (where they meet) is disappearing. Leaving a situation where you are either classified as rich or poor.
I guess that makes me poor, because I am certainly not rich!
I thought that this was what the current president was voted for to correct. The middle class is very important to the country. They are the largest group, and they spend money which is what the economy needs. There are fewer rich, but the point of using a K to illustrate the economy, is to indicate that there is greater number of rich and they are getting richer.
But at least, you know what it is now. You and I can’t do anything about it, but at least if we understand it, maybe we can survive!
