America's decimated middle class

Almost all the wealth generated in the US in the last 30 years went to 10 per cent of the population. Australia must ensure it doesn't suffer a similar fate.

Now that the mining investment boom is rapidly coming to an end, Australia should be ready for a slow switch to what is happening in the US – the decline in the middle class and the rise in the wealth and power of upper income people.
That trend will affect a wide range of enterprises ranging from retailers to independent schools.

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