On Apr 10, 1:20 pm, gjohn...@[EMAIL PROTECTED]
wrote:
> As if the median wage numbers weren't proof enough.
>
> http://www.cbsnews.com/stories/2008/04/09/national/main4005101.shtml?...
>
> The survey by the Pew Research Center, a Wa****ngton-based
> organization, paints a mixed picture for the 53 percent of adults in
> the country who define themselves as "middle class," with household
> incomes ranging from below $40,000 to more than $100,000.
>
> It found that a majority of Americans said they haven't progressed in
> the last five years. One in four, or 25 percent, said their economic
> situation had not improved, while 31 percent said they had fallen
> backward. Those numbers together are the highest since the survey
> question was first asked in 1964. Among the middle class, 54 percent
> said they had made no progress (26 percent) or fallen back (28
> percent).
>
> Asked about their financial experiences in the past year, 53 percent
> of middle-class people said they had to cut spending because money was
> tight. About one in five said they had trouble getting or paying for
> medical care, while 10 percent re****ted they had been laid off or
> otherwise lost their jobs.
>
> Looking ahead to the coming year, half of the middle class surveyed
> said they expected to have to cut more spending. Among those employed,
> one in four, or 25 percent, expressed worries that they would be laid
> off, that their job would be outsourced or that their employer would
> relocate in the coming year, while 26 percent were concerned that they
> would see cuts in salary or health benefits.
and all of those numbers means america is really in for it. all the
numbers are troubling, but the one where 10% have lost their jobs in
this short a period is frightening, and means if we can escape a
depression, we will be lucky.
to those who think a lower standard of living is great. just think,
that means everything, including assets and investments.
after 30 plus years of this, gravity is finally taking hold. if we
lower our standard of living, that will ripple world wide, including
asia.
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