Net wealth of poor families went from around 0 to minus $15k— Branko Milanovic (@BrankoMilan) February 20, 2017
(US CBO) https://t.co/xGhuTTn6Yz pic.twitter.com/dmOPME74u6
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