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"The once-stable incomes of America's biggest earners now fluctuate dramatically from year to year. And as go the rich, so goes much of the economy. "
" they've constructed a simple model for financial crises that essentially proposes the following narrative: (a) growing inequality produces less money for the middle class and more money for the rich, (b) the rich loan much of this money back to the middle class so they can continue to improve their living standards even with stagnant incomes, (c) the financial sector balloons to mediate all this, and (d) the system eventually collapses since, after all, this kind of thing can't last forever."
"The survey was fielded in the spring and the fall of 2009 as part of the Panel Survey of the American National Election Studies. It measured a wide range of events and perceptions that could leave families feeling insecure, focusing on four broad domains of life: employment, medical care, wealth, and familial arrangements. "
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