Sub poor will be a large group with No assets and No income.
If we’re in Depression, how many accountants will we need? Cabin crew? Restaurants? Leisure facilities? Lawyers? Estate agents? Car dealers? Furniture stores? Non food shops?
My own little town High St is now largely Estate Agents, Cafes, Charity shops, Banks/Building Societies. We have 2 superstores (Morrisons and Sainsbury), 2 midi grocery stores (Aldi and Asda) and 4 mini grocer (including Tesco Local). It needs maybe a half of this. There will probably be closures within 5-10 years. Permanent job losses to come.
Current middle class people will have debt up to here and they think all will be well because it’s ‘secured’ on property. Remember the next time we go into Recession the policy makers will only be able to reduce the base rate by 0.5%. How’s that going to stop the Recession and the resulting inevitable house price crash? [The last time they slashed the Base Rate, as they have done every time they got us into difficulties. The next time they can’t. We’re already near rock bottom, globally.]
The mortgagees will lose their equity and of course they have little pensions saved. No assets.
And they will have No income.
Middle Class will by-pass Poor and go straight to Sub Poor in one swift move.