Are You Closer to Bankruptcy or Billionaire?

I feel as though I'm about as pro wealth creation as anyone I know but ...

Each year, between 500,000 and 1 million Americans file for personal bankruptcy.

In a typical year, perhaps a dozen Americans become billionaires. (There are roughly 1,000 billionaires in the U.S., but the club grows most years.)

Designing policy to encourage wealth creation matters.

But designing policy to reduce the vastly more probable outcome of personal financial crisis matters more.

One overlooked bit of genius of Trump is that through cultural wars, he got millions of Americans to imagine they had more in common with - and were more likely to join - the billionaires than the bankrupt.