Research suggests that when the rich bank, the rest borrow
<i>As US income inequality began a marked increase in the 1980s, the richest 1 percent of households increased their savings while the bottom 90 percent fell into debt. Research finds that lenders indirectly used the top 1 percent’s savings to finance this borrowing, essentially enabling the rich to benefit from the bottom 90 percent’s debt repayments.</i><p>This does not imply causality as the author mistakenly assumes. Maybe the bottom 90% have more debt simply because costs are rising faster than wages and ability to save. Maybe the rich can  save more because thy earn more.