The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- There is a bona fide reason for the protests on Wall Street. Of course, the egalitarian socialists in the crowd offer a cure that would be worse than the disease. Namely, to divide the nation's wealth by the number of people in the country. But their anger emanates from a genuine realization that there is a growing wealth gap in the U.S. The Census Bureau recently indicated that real incomes have dropped 9.8% since the start of the Great Recession in December of 2007. And an OECD study found that the gap between the rich and the poor widened by 20% since the mid-1980s. In other words, the American middle class is slowly being wiped out.
Michael Pento is the President of Pento Portfolio Strategies.