There is more global wealth than at any point in human history, and it's still growing. A financial crisis and a decade of "economic stagnation" are nothing in the grand scheme of things.
EDIT: All conjecture.
At a macro scale people in the United States aren't getting poorer, they're just not getting relatively richer over time.
Inflation adjusted median household income peaked in 1999, and its current level is below what it was in 1997. [0] Mean household income has done better, because the very good results at the top influence the mean, but have no impact on the median.
Real hourly wages for middle- and low-income workers have been stagnant for decades; over a ~3 decade period dropping slightly for low income workers and gaining slightly for middle-income workers. (And lower for both categories than they were a decade ago.) And real hourly wages for young college graduates are below what they were in the late 1990s.
And, in the same time as wages have dropped, the key non-wage benefit (employer health coverage) has also dropped, with fewer recently-employed young graduates (of high school and college, measured separately) having employer-sponsored insurance than in the past. [1]
> At a macro scale people in the United States aren't getting poorer, they're just not getting relatively richer over time.
No, other than capitalists and a narrow slice of elite workers, they're actually getting poorer.
[0] https://research.stlouisfed.org/fred2/series/MEHOINUSA672N
[1] http://www.epi.org/publication/charting-wage-stagnation/
That said, people are being squeezed in other aspects of life that create very low standards of living. Maybe they have to work multiple jobs and do not get a set schedule, so they can never plan time off. Maybe they are struggling with crushing debt and working a min. wage job.
There are a lot of ways that society can be broken, that a person's life can be devalued even if their standard of living rises by some specific metrics.
Perhaps the answer is that we all need to adjust to the reality that such freedoms only come with hard work, good planning, and some luck. It seems to be the reality that most of the world has already dealt with.
There are several reasons why the Top 1% has done so much better, says Josh Bivens, EPI’s research and policy director. These include tax cuts for the rich, deregulation of Wall Street and big increases in executive compensation. At the same time, the weakening of unions and the failure of the minimum wage to keep up with inflation depressed the wages of the middle class.
Why not? Besides which, the rest of your post is not a defense that the bottom 99% has fared well, it is itself an explanation for why the 1% has done extraordinarily well. On the backs of union workers and the middle class I might add.
If you have a rebuttal to the points I cited then for, including a substantive reason to distrust their numbers on those points, please present it.
It's great we are getting richer, but not always in the ways that matter most.
What do you mean? Because people who use those words generally mean "the gays are destroying the world" and I'm hoping that's not it.