Subject: Re: Should I change how I invest? Confused in the U
Through the 250 years of industrialization in the west, Rich people got way richer, the middle class got way richer, and poor people got way richer.

Is that so? I don't doubt the statement when it's about the last 250 years. But what about the last decades, say the last 30 years?

While the statement might still be true for the first two groups, I am less sure about the third. Why? Because I know how New Zealand (NZ) and Australia were when I immigrated exactly 30 years ago in 1994 to NZ, and know how they are today. Two countries which are on the other side of the world, but still belong to the West, so "industrialization in the west" should apply to them, right?

NZ then in general was much poorer than today as is very much visible already on the streets. Then everybody drove old used cars, imported from Japan, because Japan taxed cars older than I think 8 or 9 years so heavily that it made no sense to keep them, so they were bought very cheap by NZ and Aussi importers and sold on their markets. It was a rare exception to see newer cars. Completely different nowadays. Shiny new or near new cars, for a good part electric ones.

Many more rich people than 30 years ago (partly because of a huge influx of wealthy Chinese), middle class richer than before too.

But: A growing number of poor people. "Poor" of course is a matter of definition. For me if somebody can't afford to live in a house or apartment, but his car (or rather say old wreck) is his home, that someone is poor. 30 years ago that was practically unheard of. Nowadays it's a fact of life for many Kiwis - and the number is growing daily. I am not kidding you. Just watch the scenes at supermarkets in the night. That's where those people stay overnight in their cars. This is not hearsay (you can easily read more about it), I see it just too often in NZ.

The lucky ones are those who have relatives with a house. They then if the house is already full let them stay in their garage. The inhabitants of many garages in NZ are not cars but humans.

And the most depressing fact: Those people are not your typical homeless person who has no job. They usually do have a regular job - but nevertheless can't afford housing!

It's so bad nowadays that there is a growing business to convert cheap old vans into "homes" for "the rich ones of the poor", the ones who can't afford to rent a room, but can afford such a cheap version of a proper campervan.

Why do I mention Australia too? Because I have friends there who are telling me that there also more and more people live in their cars!

I could go on and tell you about - yes, anecdotal evidence only - an elderly Kiwi couple in a supermarket, with her saying to him "I would so much like to have some of those bananas", but not being able to afford them. Etc.

This is my alternative view: Yes, the Rich in the West got richer, the middle class too, but for the poor it at least for a good part looks different - and at least in parts of the West the proportion of poor people is growing fast lately.

How is this not obvious?
See above.