The Numbers Don’t Lie: The Middle Class is Dead and It Is Not Coming Back
By Dave Hodges
TheCommonSenseShow.com
September 16th, 2017
The term the American Dream, is a term first coined by writer James Truslow Adams 86 years ago. The American dream has become an unmitigated nightmare.
Michael Snyder recently wrote a very astute article in which he bemoaned the present status of the middle class. I want to begin where Mr. Snyder and I agree and then I want to take a look at economic factors that are not getting a lot attention as they relate to middle class economic health and well-being.
According t0 the GOBankingRates survey, only 25 percent of all Americans have $10,000 or more in savings at this point…
$0 saved: 39 percent
Less than $1,000 saved: 18 percent
$1,000 to $4,999 saved: 12 percent
$5,000 to $9,999 saved: 6 percent
$10,000 or more saved: 25 percent
Further, a full 25% of all Americans do not have a bank account. Why? The answer is simple, they have nothing left at the end of the month t deposit.
Further, a full 25% of all Americans do not have a bank account. Why? The answer is simple, they have nothing left at the end of the month t deposit.
The condition of the middle class is catastrophic and the tragedy is present across all economic domains. This article will only analyze the status of the middle class as it relates to two standard measures of middle class economic health, the viability of home ownership and the readiness for retirement and in both cases, the middle class receives a grade of F-.
Vast Majority of the Middle Class Cannot Afford to Own a Home
The Rest…HERE
