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Those "asset poor" are largely the so called middle class. They are the ones just above the poverty line that can (supposedly) afford the house and cars, etc. Often using large amounts of credit to maintain that lifestyle. They have no real wealth (as it is all debt leveraged) and so are barely hanging on to the ladder.

This is why it is so important to look at wealth distribution, not just income inequality. As of 2010, the top 1% of households (the upper class) owned 35.4% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 53.5%, which means that just 20% of the people owned a remarkable 89%, leaving only 11% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.1%

11% of wealth spread amongst 80% of the population is a joke. I would guess by 2012, it is an even greater disparity with the bottom 50% owning some miniscule fraction of wealth. For most Americans, their home is the only significant source of wealth that they own (if any). But guess how that has been going. The point is that there is no security for at least 50% and probably 80% of the population- they effectively own nothing.

This is intentional, of course. Those at the top are largely the products of largesse and inheritance and have no intention of sharing. It is only the fools at the bottom who do not understand the situation and think they have a chance to "make it". The reality is that they are kept expendable.

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