During the age of Obama, the rich have gotten richer and the poor, far poorer, according to a survey of the world’s wealth.
Swiss bank Credit Suisse has released its 2016 review of the world’s wealth, showing that during the last six years, the control of wealth at the top has become more concentrated, while earners at the bottom who are worth less than $10,000 have not only become a larger pool of people, but have also lost wealth.
The previous review also revealed that the middle classes lost ground since 2010.
The middle classes took a huge hit between 2010 and 2016. Citizens worth between $10,000 and $100,000 have shrunk from the 2010 number of 1,045 million people (or 23.5 percent of the world’s population) to the much lower number of 897 million (18.5 percent of the people) this year. full story