Plundering the middle class – 35 percent of American households live on $35,000 or less each year. Bailouts a success for the wealthiest 5 percent of Americans.
The middle class is being slowly dismantled piece by piece. New Census data released this week highlights a continuing trend that is pushing more average Americans into a perpetual struggle to stay financially afloat. New data shows that the median household income is $50,221 in 2009 which is down from $52,029 in 2008. This drop […]
Wealth inequality rivals the months prior to the Great Depression – Americans would prefer a more evenly distributed wealth system. Over 80 percent of Americans still feel we are in a recession.
The official announcement that the recession is over underscores the massive disconnect between Wall Street and the rest of America. Wealth inequality in America is at levels last seen right before the Great Depression ravaged our economy. Yet the inequality has grown even more intense as this crisis has gone forward. 43 million Americans are […]
As more Americans save the typical too big to fail banking savings account is paying close to 0 percent in interest. At the same time the average credit card interest rate is over 14 percent.
The one silver lining of this crisis if there is one to be had is that many more Americans are actually saving more money. However the problem that many now face is historically low interest rates through bank savings accounts. Average Americans have few places to go receive a decent return (5% or lower) without […]
Jobs for middle class expansion are long gone – The struggles to create jobs that will create a vibrant middle class have vanished under the foot of banking dominance.
Most Americans realize that having a job is a prerequisite to gaining entrance into the middle class. If you work hard enough, chances are you would have access to some of the things promised to the middle class; access to affordable housing, a good education, and the ability for some sort of retirement. That ideal […]