That is a new all-time record. According to author Scott Allardit is actually our suburbs where poverty is growing more rapidly than anywhere else… This is consistent with research across the U. When I was growing up, the shopping mall was the place to be for average middle class kids.
Home Op-ed American nightmare: So why do we continue to watch the painful spectacle year after year? Richest 62 have same wealth as the poorest 3.
We must tackle inequality and EvenItUp! The raw economic data shows why middle-class America has been in a grand funk for decades: According to Pew Research Center49 percent of US income went to upper-income households inup from 29 percent in The share that trickled to middle-income families was 43 percent indown from a respectable 62 percent in The data reveals a disturbing trend that points not only to income inequality, but to the end of America as an egalitarian country, where everybody is guaranteed a fair shot at the "pursuit of happiness.
In20 percent of American adults were in the lowest-income group, up from 16 percent in On the sunnier side of the railroad tracks, 9 percent are in the highest-income category, more than double the 4 percent share in So what exactly is prompting this steady erosion of the US middle-class, the proverbial canary in the coalmine as far as the US economy — and its social cohesiveness — is concerned?
Here is a list of the top obstacles Americans say are blocking the path to reaching the dream: In any case, here is a short description of what is ailing America and Americans, complete with endless zeros.
Keep it top of mind as they head home. This 41 per cent drop has occurred despite the global population increasing by around million people during that period.
In just six years, the wealth of the bottom 3. These are the kind of economic trends that invariably breed social disturbances, if not outright revolution, as at least one billionaire recently had the foresight to understand.
No society can sustain this kind of rising inequality. These five banks went from holding 35 percent of industry assets in to 44 percent today. As these esteemed financial institutions accumulate ever more money, the "vast majority of Americans have been stuck with the same median wage since When exactly did the American Dream morph into a fantastic Nightmare?
Zucman demonstrated a bit of rebellious zeal not traditionally found in the halls of academia: Without a healthy and robust middle-class, America will not only revert to third-world-country status, it will be ripe for a serious social convulsion the likes of which we have never seen.The Collapse of the Middle Class and the Rise of a New 'Precariat' the net worth of the top 10 percent is up percent and down for American families, just over 30 percent.
is yunusemremert.com As numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale “possession” of property.
Riots. The middle-income class is hollowing out, and it's hurting US economic growth. Only about a quarter of a percent of US households have climbed up the ladder from the middle class into the upper. The following are 15 signs that the middle class in the United States is being systematically destroyed #1 78 million Americans are participating in the “gig economy” because full-time jobs just don’t pay enough to make ends meet these days.
More Jobs Lost to the "Gig Economy" A recent Harvard/Princeton study concluded that the increase in alternative work arrangements—contract and 'gig' jobs—is impacting previously stable sectors such as transportation, information technology, education, health care, and public administration.
Still, even with the U.S. economy and the world economy in such a precarious state, hardly anyone seems concerned! Americans know far more about the Super Bowl than about this super crisis threatening to destroy our financial system. Derivatives. One of the greatest dangers to the economy lies in contracts called derivatives.
Many derivatives are essentially unregulated, high-risk credit bets.