7 ms·
Unemployment is high, wages are low, debt is high, savings are low, and cost of living is high and rising rapidly in the only geographical places which don't su
by cryoshon 10y ago
Unemployment is high, wages are low, debt is high, savings are low, and cost of living is high and rising rapidly in the only geographical places which don't suffer from high unemployment and low wages. Consumption is low due to the above factors. Job generation is low. New business founding is low. Taxes are the most burdensome to those who have the least; capital is heavily concentrated at the very top, with most of the bottom 70% owning very little whatsoever. Retirement accounts are being filled slowly (if at all), not filled at all, or withdrawn from prematurely. Mortgages are being reversed in order to liquidate owned shares in exchange for cash.
The upper class has flourished, and is richer than ever before, including the gilded age, with fortunes the size of Rockefeller now common among their ranks. The upper middle class has taken a minor hit, but has largely recovered and is reaping the gains of their investment funds. Middle class families have fallen into instability, and must now accept a lower standard of living, worse education, and high levels of debt. Lower class families have fallen into desperation, and many have their stuff repoed and their homes foreclosed. The underclass is hopelessly trapped working in multiple minimum wage jobs if they are lucky enough to work at all, packed in with a dozen to a household. A growing population at the very bottom lives in utter squalor, frequently in the context of complete municipal anarchy such as in Detroit or Flint.
How hard is it to understand that the economic health of the majority of people in the US is very poor?
- mason240 10y agoAlmost none of the things in your first paragraph are true.
- thinkdevcode 10y agoBecause you don't want it to be or because you have proof? If you have proof, show it.
- mason240 10y agoLet me get right on proving other people's arguments.