“This is a recession that has hit the rich disproportionately.”
If the “rich” are hit disproportionately in this matter. It is their own dang fault for misreading economic conditions that set this play up. After all isn’t the “art” of getting rich and remaining rich the same as being smart and staying ahead of the game ?
At the same time, being poor and remaining poor is “one’s” own choice. Hence the reason for providing a vehicle to promote ones ambitions to rise above and learn from past mistakes.
The markets and their relative influence on society is that vehicle.
I don’t feel sorry for the rich. I’m just observing that if you don’t own stock or real estate, then you are not much affected by this recession, provided that you don’t lose your job. In fact, the lower incomes who don’t own real estate or stock might be better off as a result of this recession, assuming they have a job. Gas is cheaper, food prices have stopped escalating. Housing is cheaper.