Net wealth of poor families went from around 0 to minus $15k
(US CBO) https://t.co/xGhuTTn6Yz pic.twitter.com/dmOPME74u6

— Branko Milanovic (@BrankoMilan) February 20, 2017

This might explain why so many people were unmoved by Hillary Clinton’s message that things are fine as well as the relative hostility of people in the lower half of the income distribution to Barack Obama.

When Barack Obama approved Timothy Geithner’s policy of using HAMP to “Foam the Runway” for the banks, in so doing they reduced a significant proportion of the populace to penury.

H/t naked capitalism