Nouveau poor

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"Nouveau poor" ("new poor"), refers to a person who had once owned considerable wealth, but has now lost all or most of it. This term is generally used to emphasize that the individual was previously part of a higher socioeconomic rank, and that such wealth that provided the means for the acquisition of goods or luxuries is currently unobtainable. These people may or may not actually be poor, but compared to their previous rank, it seems as if they are.[1]

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  1. ^ Rich, Laura (June 15, 2009). "Recession Lexicon: Nouveau Poor". Recessionwire. Archived from the original on August 29, 2009. Retrieved 2009-08-27.CS1 maint: BOT: original-url status unknown (link)

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