[FelixP]

No. The middle class in the US and other highly developed nations is hurting, but by any global measure, this group of people is actually relatively wealthy. The global middle class has experienced an unprecedented level of growth and prosperity over the past 25+ years. Of course, this has in many cases come at the expense of the first group.

[hwstar]

I agree. The standard of living in the first world countries will meet the third world countries in the middle. This explains why wages haven't increased significantly in the past 25 years in the US.

Where it gets interesting is when equilibrium has been reached.

[AnimalMuppet]

I can buy that.