Note.... the middle class is 100 million or more. The rich? A few million. The really rich? tens of thousands. If I have a 3 million dollar income and a 4 million dollar house, and this economic dent is put in me, I still have a 2 million dollar income and a 2.5 million dollar house. But if I am typical, then I am one of the 100 million. I have lost a vastly more important sum, even if its much smaller. Its the margin by which I fend off the wolf, the cushion against looming bankruptcy and failure. Im no longer thriving, just surviving, and probably working even harder to do it. I can no longer send my kids to college, I can no longer buy that new car my wife deserves, or continue to plan for the retirement I imagined for us. Now its about getting the bills paid, shrinking the spending, and hoping I can hold onto my job while people all around me are losing theirs. After all, these middle class folks, spending their money, is what keeps an economy going and businesses in business. If theyre all taking this kind of a ding, then spending of disposable income is down to a trickle. Remember when Bush bailed out banks and told you to please continue to shop, to spend your money? It was VITALLY important to the economy that there be no reduction in the spending of disposable income by the middle class. The economy is overstretched and in debt, and the inflow of revenue to government and to wobbly banks with too large a loan portfolio is hugely important. Rich people cannot spend ENOUGH money to supply government; they are too few. The middle class, the one hundred million, are the decisive factor. Cut their spending and you destroy the economy. This stat shows that middle class people with disposable income are being CRUSHED. Dont discount the fact that the dollar is losing value rapidly because of the overspending and overprinting, which dilutes the real worth of the currency. You are making less money AND the money is worth less, meaning you have to spend more than before to get the same things. Are you better off than you were 6 years ago?
Posted on: Sat, 26 Jul 2014 20:34:25 +0000
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