The Collapse of the American Empire — The End of Middle Class America
Once upon a time , one person working could support a family of 4+ with a high-school education. What happened? Feminism, Mass 3rd world immigration, The FED and no Silver Dollar .
Bad trade policy transferring virtually all manufacturing to China . It’s not hard to understand.
Take trillions of dollars worth of economic activity, move it overseas, and funnel the profits to a tiny slice of society. Allow allies in Europe and Asia to keep their currencies weak, so that American workers can be called overpaid
Let finance dictate free trade for workers, but special privileges for themselves. And let the Fed gear every policy for the benefit of banks. Bye bye middle class, hello working poor.
The poor got a lot poorer except for receiving government benefits. The rich have benefited greatly from all these asset bubbles. And the middle class hasn’t benefited from either so it is effectively shrinking.
The standard of living of the middle class is not what it used to be in the past. And whatever this standard is requires countless workarounds to achieve/hang on to. And requires multiple incomes to achieve a standard that used to be obtainable from just one spouse working. it now takes two income-earners to achieve the “middle class” status that was once obtainable from just one income earner – and, one of those income earners better work for some government organization if the family wants any real benefits, such as health care and a pension.
Both spouses must work, because child day care are too expensive. there are no return on savings. and college tuition are confiscatory . We all know this from real-life experience in America: it pays to be either wealthy or low-income , especially if the household getting means-tested benefits also works in the black-market informal economy for cash.
As for the middle 60%: you get nothing. The goal is to keep the peasants in their place. It’s hard to be a stuck up self righteous elitist when a peasant can earn what you inherited.
Elitist like to believe royalty must be in your blood and that’s why they should be worshiped as gods while the little people find contentment groveling at their feet.
When three men ,Gates, Buffet, and Bezos, have more wealth than the bottom 50% of the population in America COMBINED