who bears the brunt most during an economic downturn?Who suffered most during Asian currency crisis, during SARS?Probably the middle income group who were trying hard to keep their heads above water!
The rich has the means to buy off their frustrations, the higher income groups have the power to decide how much they should get, when to get back their paycuts whereas the middle income group has to look at the faces of their bosses to get a pay rise, left alone the restoration of their pay cuts!
Many such middle income group has been weeded out by bankruptcy and they formed the biggest group among the bankrupts.Most in this group were seen trying hard to climp the social ladders BUT the tides are against them as the economic restructuring has hit them the hardest.
The poor has nothing much to look forward to except their 3 meals and they have not much ambitions besides hope, hoping that their lives could miraculously change to a better one as time passby!
go read today's article in the straits times about wage gap.
top 10% earns at least $5600 per month while bottom 10% earns less than $1200 per month.
