Gilding the Lily?
The modern-day Gilded Age is upon us. Yet for many Americans, the availability of credit provides the illusion of abundance and an even playing field. We’re living like Astors—until the credit card bill rolls in. Thanks to student loans and consumer credit debt, the average citizen has far less wealth, while the One Percent are partying like the French aristocracy before 1789.
—Gail Marie Kern, Security Team, December 3
Source: “Wealth distribution in US rivals a modern day Gilded Age,” My Budget 360