John Rubino – Why Are We Feeling Poorer? Is It The Reverse Wealth Effect?

from Financial Survival Network

John Rubino writes that as healthcare costs are rising, personal income isn’t. Many other costs such as car insurance, homeowners insurance, college tuition, etc., keep rising. So while the wealth effect of rising asset prices keeps the rich feeling richer, the reverse wealth effect keeps the rest of us feeling poorer. Eventually something has got to give. What it will be is the question. Will we wind up like Greece?

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