Sure, you can blame it on capitalism if you want, but pay close attention to a recurring theme in this article such as
" The minimum wage, which peaked in 1968, would have reached $21.72 in 2012 had it kept pace with inflation."
Along with
"Prestigious jobs are increasingly clustered in cities where rent has tripled or quadrupled"
This is not a mystery. QE and inflation is a direct wealth transfer from the poor to the rich. It's basic math and I'll repeat myself once again. When the upper middle class and rich can leverage themselves into assets that grow proportionally to inflation, they get richer and poor people get poorer. This is in addition to the fact that inflation is often a lopsided event from the top down (Fed lends to banks, which then lend to consumers etc.)
" The minimum wage, which peaked in 1968, would have reached $21.72 in 2012 had it kept pace with inflation."
Along with "Prestigious jobs are increasingly clustered in cities where rent has tripled or quadrupled"
This is not a mystery. QE and inflation is a direct wealth transfer from the poor to the rich. It's basic math and I'll repeat myself once again. When the upper middle class and rich can leverage themselves into assets that grow proportionally to inflation, they get richer and poor people get poorer. This is in addition to the fact that inflation is often a lopsided event from the top down (Fed lends to banks, which then lend to consumers etc.)