The Death Of The Rust Belt

Their names are familiar to all of us: Cleveland, Flint, Youngstown, Saginaw, Gary, Toledo, Reading, Akron, Flint and Buffalo were all once booming manufacturing cities that were absolutely packed with thriving middle class families.
But now most of the manufacturing jobs are gone and all of those cities are just shadows of their former selves.
We have a permanent epidemic of unemployment in this country.  Back in the 1980s, over 20 percent of the jobs in the U.S. were manufacturing jobs.  Today, only about 9 percent of the jobs in the U.S. are manufacturing jobs.
The Rust Belt is nearly dead.  [Read more...]

The Overlooked Reason Why the Middle Class Is in Decline

cliff fall coyoteThe middle class happily accepts high risk in return for temporary gains in the asset bubble of the day, guaranteeing a steady progression of losses.
There are now three asset bubbles to choose from: housing, stocks and bonds.
In each asset class, the majority is convinced that there can only be further gains from here. Risk is seen as low and complacency is high, the classic signs that the outsized gains have already been reaped and all that’s left in the tank to divvy up are the risks and losses.
No wonder the wealth of the middle class keeps declining: every temporary gain from joining the investing feeding frenzy sets up staggering losses when the bubble du jour pops and there’s nobody left to sell to.
Meanwhile, those who bought early have long since sold out and are now buying outlier assets that are viewed as “risky” by the majority who happily accept high risk in return for temporary gains in the asset bubble of the day, guaranteeing a steady progression of losses and an erosion of real wealth.

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15 Signs The Middle Class Is Dying

One of the things that was great about America in the post-World War II era was that we developed a large, thriving middle class.  Until recent times, it always seemed like there were plenty of good jobs for people that were willing to be responsible and work hard.  That was one of the big reasons why people wanted to come here from all over the world.  They wanted to have a chance to live “the American Dream” too.
But now the American Dream is becoming a mirage for most people.  No matter how hard they try, they just can’t seem to achieve it.
And here are some hard numbers to back that assertion up.  The following are 15 more signs that the middle class is dying…

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From Middle Class to Ghetto in Four Short Years – The Theft of America

Detroit is a window to our future if the people of this country don’t come to their senses pretty quick.
After you see the images below and realize this level of destruction occurred in less than five years, where will the other communities be, that are currently on the edge, five years from now?
The big investors, like BlackRock, which were getting free money to purchase the REO inventory and either sell or rent, have completely stopped.
If this inventory just sits for another three years will we look back at these images of Detroit to realize we were looking at the new model of an American neighborhood? 

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Canada’s Middle Class Surpasses Dying US Middle Class

For most of Canada’s existence, it has been regarded as the weak neighbor to the north by most Americans.  Well, that has changed dramatically over the past decade or so.  Back in the year 2000, middle class Canadians were earning much less than middle class Americans, but since then there has been a dramatic shift.  At this point, middle class Canadians are actually earning more than middle class Americans are.  The Canadian economy has been booming thanks to a rapidly growing oil industry, and meanwhile the U.S. middle class has been steadily shrinking.  If current trends continue, a whole bunch of other countries are going to start passing us too.  The era of the “great U.S. middle class” is rapidly coming to a bitter end. [Read more...]

Middle Class Extinction: 9 Of The Top 10 Occupations In US Pay An Average Of Less Than $35k A Year

middle classAccording to stunning new numbers just released by the federal government, nine of the top ten most commonly held jobs in the United States pay an average wage of less than $35,000 a year.  When you break that down, that means that most of these workers are making less than $3,000 a month before taxes.  And once you consider how we are being taxed into oblivion, things become even more frightening.  Can you pay a mortgage and support a family on just a couple grand a month?  Of course not.  In the old days, a single income would enable a family to live a very comfortable middle class lifestyle in most cases.  But now those days are long gone.
You can’t have a middle class without middle class jobs, and we have witnessed a multi-decade decline in middle class jobs in the United States.  As long as this trend continues, the middle class is going to continue to collapse. 

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28 Signs That The Middle Class Is Heading Toward Extinction

The death of the middle class in America has become so painfully obvious that now even the New York Times is doing stories about it Millions of middle class jobs have disappeared, incomes are steadily decreasing, the rate of home ownership has declined for eight years in a row and U.S. consumers have accumulated record-setting levels of debt.  Being independent is at the heart of what it means to be “middle class”, and unfortunately the percentage of Americans that are able to take care of themselves without government assistance continues to decline. 
In fact, the percentage of Americans that are receiving government assistance is now at an all-time record high.  This is not a good thing.  Sadly, the number of people on food stamps has increased by nearly 50 percent while Barack Obama has been in the White House, and at this point nearly half the entire country gets money from the government each month.  Anyone that tries to tell you that the middle class is going to be “okay” simply has no idea what they are talking about.
The following are 28 signs that the middle class is heading toward extinction… [Read more...]

What Does It Take To Be Middle Class?

middle classWhat does it take to be middle class nowadays?
As costs have risen faster than incomes for decades, households have been priced out of the middle class.
By standards of previous generations, the middle class has been strip-mined of income, assets and purchasing power. [Read more...]

Middle Class Being Ground to Dust Under Jackboots of Inflation

Submitted by AGXIIK:

Governments are good at two things:  Waging war and debasing the currency.  These two actions are aided and abetted by a central bank.  And thrust into the middle of this morass of printing and war is the common man.    The middle class; the lower class; the common people are ground to dust under the jackboots of the psychopaths, deviants and escapees from insane asylum.

Richard Nixon committed the greatest  financial crimes of the last 2,000 years, one that will go down in history as the most vicious since the Roman empire began debasing their precious metal currency. Nixon will be regarded as the 20th Century’s Diocletian.  He took this country; our country, off the gold standard.  And thus began the decline and fall of the USSA Empire.
The tragedy following  this act has resulted in continual and unrelenting war with a Defense budget that cost a minimum of 25% of the entire Federal budget.  And who paid for it?   We, the long suffering middle class.  [Read more...]