> That's really the only explanation you can think of?

Another is the fact that many choose to own luxury items or buy drugs (tobacco, alcohol are included) instead of... you know... saving. And then self-proclaim to live "paycheck to paycheck"⋆.

Middle class gets poorer and the rich get richer because inflation is literally eating away the former's life savings while the other has doubled his net worth in just 10 years.

⋆I am not discrediting those that are truly living paycheck to paycheck. But a lot of people blaming the system and getting poorer are usually spending a shitton of money on useless things. Financially literate people prefer to save and invest this money because they understand the cost of opportunity.

My public school never gave me any classes on financial literacy while children of global elites receive the best guidance for it. My classmates and I were then instructed by every counselor and parent to take out six-figure student loans with variable interest. We were teenagers in high school without fully-developed brains.

I can keep pulling examples out of the rabbit hat, just let me know.

> My public school never gave me any classes on financial literacy while children

None do. Even private schools don't. It's not part of the curriculum and children don't care about those topics. When you reach your 20s you realize how important it would've been but how boring you thought it was at the time. But since you graduated, "learning is over" so you won't teach yourself financial literacy.

> children of global elites receive the best guidance for it

Yeah... from their parents. I worked in the industry and I know that children from UHNW individuals do not want to talk and be taught about money. They are not financially literate, but they have money that allows them to delegate to someone else. This is true for anything in life, by the way: you either learn to do it or you pay someone else to do the job.