Even America’s Upper Middle Class is feeling poorer

The upper middle class in this country has been somewhat insulated from stealth inflation and wage stalls. However, this is changing. Debt looms over the suburbs. This situation sprouts from our central banking system.
(From Yahoo News)

The cost of many products and services the upper middle class buys, from autos to college educations, is outpacing overall inflation. Despite having access to credit, these households are increasingly tapping into costlier forms of debt…

…Over the past decade, household debt composition, in aggregate, has shifted away from home mortgages — as the main item in the overall debt portfolio — to credit with higher financing costs.