Plus, 40yrs ago, wealth meant owning a computer, cell phone, VCR etc.....and on and on-
these cays beyond the basics-wealth is good for screwing everyone else via inflation, regulation and taxation and little else.
If failure means: more living space than anywhere else on earth, readily accessible food/calories, state of the art medical care, free primary education and every gadget on earth-our nation has completely failed these people.
JP Morgan is tracking the decline in liquid assets, vs increased consumer debt. And everyone but the top 1% is on trend to be worse off by election day than 2019.
https://www.businessinsider.com/economy-recession-outlook-household-wealth-financially-pandemic-jpmorgan-income-markets-2023-12