Pundits have been talking a lot about America's "K-shaped economy" lately, but most average people on the street have no idea what that means.  Basically, it means that the wealthy are getting even wealthier while almost everyone else is getting monkey-hammered.  Yesterday, I detailed 11 signs that economic conditions in the U.S. are the worst that they have been since the Great Recession, but if you have plenty of money you may feel like everything is just great right now.  For those at the top of the economic pyramid, it could be argued that these are the best of times because the stock market has been soaring.  But for many of those at the bottom of the economic pyramid, it literally feels like we are in the midst of a horrifying economic crisis.

At a time when the cost of living is crushing most of the population, debt levels are exploding, and mass layoffs are happening all over the nation, we continue to see "strong spending and healthy income growth among upper-income Americans"…

Experts describe the current U.S. economy as "K-shaped," a reference to the divergent fortunes of wealthier consumers compared with people lower down the ladder. The upward-slanting stroke of the "K" represents the ongoing trend of strong spending and healthy income growth among upper-income Americans.

By contrast, the letter's lower-slanting stroke points to the multiple financial strains facing low- and middle-income people, from stubborn inflation and prohibitively expensive homes to surging credit card debt and high health insurance costs.