There are plenty of good middle class jobs, and we can create more, but we won’t get there with our current set up. You’re 100% right about the wealth inequality situation. The problem globally can be summed up quite succinctly: Finance is too big a portion of the economy. That’s it. Finance is such a part of GDP in the US that it is supressing the rest of the economy. It is the pinnacle of wealth inequality. You have a very few people at the top making huge amounts of money pushing paper around, but producing nothing tangible.
In Europe the situation is a bit better for various reasons, but has been trending like the US (lagging) for a couple decades. China, ironically, is saving the world from a meltdown right now. And I’m no fan of China.
Mark Blyth is a great source of practical economic wisdom if you’re interested.
The finance sector will be controlled one way or another. As I wrote before, it is just a question of how bloody it will get.