Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

28 Signs That The Middle Class Is Heading Towards Extinction
zero hedge ^ | 2/6/14 | Tyler Durden

Posted on 02/06/2014 5:34:02 PM PST by Nachum

Submitted by Michael Snyder of The Economic Collapse blog,

The death of the middle class in America has become so painfully obvious that now even the New York Times is doing stories about it. Millions of middle class jobs have disappeared, incomes are steadily decreasing, the rate of homeownership has declined for eight years in a row and U.S. consumers have accumulated record-setting levels of debt. Being independent is at the heart of what it means to be "middle class", and unfortunately the percentage of Americans that are able to take care of themselves without government assistance continues to decline. In fact, the percentage of Americans that are receiving government assistance is now at an all-time record high. This is not a good thing. Sadly, the number of people on food stamps has increased by nearly 50 percent while Barack Obama has been in the White House, and at this point nearly half the entire country gets money from the government each month. Anyone that tries to tell you that the middle class is going to be "okay" simply has no idea what they are talking about. The following are 28 signs that the middle class is heading toward extinction...

#1 You don't have to ask major U.S. corporations if the middle class is dying. This fact is showing up plain as day in their sales numbers. The following is from a recent New York Times article entitled "The Middle Class Is Steadily Eroding. Just Ask the Business World"...

In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end

(Excerpt) Read more at zerohedge.com ...


TOPICS: News/Current Events
KEYWORDS: class; extinction; middle; middleclass; middleclasstargeted; retailers; signs

1 posted on 02/06/2014 5:34:02 PM PST by Nachum
[ Post Reply | Private Reply | View Replies]

To: Nachum

The peasants will feed on the elite.


2 posted on 02/06/2014 5:37:42 PM PST by Old Yeller
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

In my darker moments, I think to myself, “I can sort of understand why so many want to increase the minimum wage: That’s the only jobs that’s gonna be left!”

In 20 years, hell.....we’ll ALL be minimum wage grunts! Well, unless you can finagle getting yourself elected to Congress.

Then you’re in like Flint.


3 posted on 02/06/2014 5:38:36 PM PST by AnAmericanAbroad (It's all bread and circuses for the future prey of the Morlocks.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Ping for later


4 posted on 02/06/2014 5:40:20 PM PST by NewHampshireDuo
[ Post Reply | Private Reply | To 1 | View Replies]

To: Old Yeller

Yup.
I would say accelerating armament points to a probability that this article is wrong about who will be extinct as this plays out.


5 posted on 02/06/2014 5:43:44 PM PST by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Nachum

Obamacare will push the middle class over the cliff.


6 posted on 02/06/2014 5:46:57 PM PST by umgud (2A can't survive dem majorities)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MrEdd
I would say accelerating armament points to a probability that this article is wrong about who will be extinct as this plays out.

We should make a list of peasants who will be responsible for checking up on the welfare of assigned current and former Congress-critters when TSHTF.

We will want to make sure that they are safe.

7 posted on 02/06/2014 5:50:30 PM PST by E. Pluribus Unum (The only way women can "have it all" is if men aren't allowed to have anything.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Nachum

Bookmark


8 posted on 02/06/2014 5:52:39 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

#1 You don’t have to ask major U.S. corporations if the middle class is dying. This fact is showing up plain as day in their sales numbers. The following is from a recent New York Times article entitled “The Middle Class Is Steadily Eroding. Just Ask the Business World”...

In Manhattan, the upscale clothing retailer Barneys will replace the bankrupt discounter Loehmann’s, whose Chelsea store closes in a few weeks. Across the country, Olive Garden and Red Lobster restaurants are struggling, while fine-dining chains like Capital Grille are thriving. And at General Electric, the increase in demand for high-end dishwashers and refrigerators dwarfs sales growth of mass-market models.

As politicians and pundits in Washington continue to spar over whether economic inequality is in fact deepening, in corporate America there really is no debate at all. The post-recession reality is that the customer base for businesses that appeal to the middle class is shrinking as the top tier pulls even further away.

#2 Some of the largest retailers in the United States that once thrived by serving the middle class are now steadily dying. Sears and J.C. Penney are both on the verge of bankruptcy, and now we have learned that Radio Shack may be shutting down another 500 stores this year.

#3 Real disposable income in the United States just experienced the largest year over year drop that we have seen since 1974.

#4 Median household income in the United States has fallen for five years in a row.

#5 The rate of homeownership in the United States has fallen for eight years in a row.

#6 In 2008, 53 percent of all Americans considered themselves to be “middle class”. In 2014, only 44 percent of all Americans consider themselves to be “middle class”.

#7 In 2008, 25 percent of all Americans in the 18 to 29-year-old age bracket considered themselves to be “lower class”. In 2014, an astounding 49 percent of them do.

#8 Incredibly, 56 percent of all Americans now have “subprime credit”.

#9 Total consumer credit has risen by a whopping 22 percent over the past three years.

#10 The average credit card debt in the United States is $15,279.

#11 The average student loan debt in the United States is $32,250.

#12 The average mortgage debt in the United States is $149,925.

#13 Overall, U.S. consumers are $11,360,000,000,000 in debt.

#14 The U.S. national debt is currently sitting at $17,263,040,455,036.20, and it is being reported that is has grown by $6.666 trillion during the Obama years so far. Most of the burden of servicing that debt is going to fall on the middle class (if the middle class is able to survive that long).

#15 According to the Congressional Budget Office, interest payments on the national debt will nearly quadruple over the next ten years.

#16 Back in 1999, 64.1 percent of all Americans were covered by employment-based health insurance. Today, only 54.9 percent of all Americans are covered by employment-based health insurance.

#17 More Americans than ever find themselves forced to turn to the government for help with health care. At this point, 82.4 million Americans live in a home where at least one person is enrolled in the Medicaid program.

#18 There are 46.5 million Americans that are living in poverty, and the poverty rate in America has been at 15 percent or above for 3 consecutive years. That is the first time that has happened since 1965.

#19 While Barack Obama has been in the White House, the number of Americans on food stamps has gone from 32 million to 47 million.

#20 While Barack Obama has been in the White House, the percentage of working age Americans that are actually working has declined from 60.6 percent to 58.6 percent.

#21 While Barack Obama has been in the White House, the average duration of unemployment in the United States has risen from 19.8 weeks to 37.1 weeks.

#22 Middle-wage jobs accounted for 60 percent of the jobs lost during the last recession, but they have accounted for only 22 percent of the jobs created since then.

#23 It is hard to believe, but an astounding 53 percent of all American workers make less than $30,000 a year in wages.

#24 Approximately one out of every four part-time workers in America is living below the poverty line.

#25 According to the most recent numbers from the U.S. Census Bureau, an all-time record 49.2 percent of all Americans are receiving benefits from at least one government program each month.

#26 The U.S. government has spent an astounding 3.7 trillion dollars on welfare programs over the past five years.

#27 Only 35 percent of all Americans say that they are better off financially than they were a year ago.

#28 Only 19 percent of all Americans believe that the job market is better than it was a year ago.

As if the middle class didn’t have enough to deal with, now here comes Obamacare.


9 posted on 02/06/2014 6:04:10 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

#4 Median household income in the United States has fallen for five years in a row.

#5 The rate of homeownership in the United States has fallen for eight years in a row.

These two alone will cause a domino effect all through the economy.


10 posted on 02/06/2014 6:06:24 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

People get the kind of government they deserve, my father always said. He was so right.


11 posted on 02/06/2014 6:06:53 PM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

The real problem is, some of us get the kind of government THEY (the mass of other idiots) deserve.


12 posted on 02/06/2014 6:07:25 PM PST by MeneMeneTekelUpharsin (Freedom is the freedom to discipline yourself so others don't have to do it for you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dragnet2
Ping!
13 posted on 02/06/2014 6:08:35 PM PST by hope_dies_last
[ Post Reply | Private Reply | To 9 | View Replies]

To: Nachum

At the end of the article:

“This is not the America that I remember.
What in the world is happening to us?”

The answer in one word, Democrats.


14 posted on 02/06/2014 6:11:56 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will. They ALL have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

What will kill the middle class is a declining birthrate - abortion - birth control - late marriages - few offspring.


15 posted on 02/06/2014 6:15:09 PM PST by ZULU (Magua is sitting in the Oval Office. Ted Cruz/Phil Robertson in 2016.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: rockinqsranch
The answer in one word, Democrats.

Er... not the DemocRATs. The F***ing communists.

16 posted on 02/06/2014 6:15:19 PM PST by Nachum (Obamacare: It's. The. Flaw.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Nachum

“Er... not the DemocRATs. The F***ing communists.”

Same thing.


17 posted on 02/06/2014 6:25:09 PM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will. They ALL have fairies livin' in their trees.)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Nachum
28 Signs That The Middle Class Is Heading Towards Extinction:


18 posted on 02/06/2014 6:45:31 PM PST by rlmorel ("A nation, despicable by its weakness, forfeits even the privilege of being neutral." A. Hamilton)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

The middle class will take it in the shorts in 2014, as a result of Ocare causing business having to cut back andshorten hours.


19 posted on 02/06/2014 7:54:56 PM PST by ully2
[ Post Reply | Private Reply | To 1 | View Replies]

To: Nachum

Hell, the entirety of Western Culture is headed for the drain.

WOMAN’S LIB AND ISLAM

http://www.youtube.com/watch?v=E0cS4p9cFlo&feature=c4-overview&list=UUFDlhK80EdO28R-iGTXiGaw


20 posted on 02/06/2014 8:09:04 PM PST by Dick Bachert (Ignorance is NOT BLISS. It is the ROAD TO SERFDOM! We're on a ROAD TRIP!!)
[ Post Reply | Private Reply | To 1 | View Replies]

bkmk


21 posted on 02/06/2014 9:24:38 PM PST by AllAmericanGirl44
[ Post Reply | Private Reply | To 2 | View Replies]

To: dragnet2

Thanks for the list.


22 posted on 02/07/2014 3:34:14 AM PST by Repeal The 17th (We have met the enemy and he is us.)
[ Post Reply | Private Reply | To 9 | View Replies]

To: Nachum
You don't have to ask major U.S. corporations if the middle class is dying. This fact is showing up plain as day in their sales numbers. The following is from a recent New York Times article entitled "The Middle Class Is Steadily Eroding. Just Ask the Business World".

Stealing this from 2ndDivisionVet:

Back when NAFTA first went through, and businesses were stampeding down to Mexico, I started writing the politicians, media, and CEOs, telling them that in this short-sidedness, they were overlooking the fact that they were laying off each others customers. Either silence or a paternalistic pat on the head boilerplate letter on how good "Global Competition" (i.e. a race to the bottom) would be for American workers. That and "right-wing kook" from the workers I contacted.

Fast forward to China, India, et al and I kept up the campaign, more as a spleen-venting exercise, as the replies were all the same from everyone.

Now, like Capt. Renault, they are shocked, I tell you, shocked that this is happening. Bullshot, they knew what they were doing and didn't care as long as the bottom-line wasn't affected. Now, those guys have retired with plush pensions and the Newbies are having a Holy Sh!t moment.

23 posted on 02/07/2014 5:32:22 AM PST by Oatka (This is America. Assimilate or evaporate.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: All

Start raising your own food, folks. Grow a big garden.

If your yard is too shady for a garden, install a chicken coop.


24 posted on 02/07/2014 6:33:11 AM PST by Renfield (Turning apples into venison since 1999!)
[ Post Reply | Private Reply | To 23 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson