28 Signs That The Middle Class Is Heading Towards Extinction

zero hedge ^ | 2/6/14 | Tyler Durden

[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

[AllAmericanGirl44]

bkmk

[Repeal The 17th]

Thanks for the list.

[Oatka]

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.

[Renfield]

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

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