Finally others are saying what I have been saying for a decade.

Discussion in 'Economy' started by uscitizen, May 8, 2011.

  1. uscitizen
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    uscitizen Senior Member

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    Here are just some of the sobering facts:

    -- There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps.

    -- At the current pace of job creation, the economy won't return to full employment until 2018.

    -- Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010.

    -- Middle-income jobs have been replaced by low-income jobs, which now make up 41% of total employment.

    -- 17 million Americans with college degrees are doing jobs that require less than the skill levels associated with a bachelor's degree.

    -- Over the past year, nominal wages grew only 1.7% while all consumer prices, including food and energy, increased by 2.7%.

    -- Wages and salaries have fallen from 60% of personal income in 1980 to 51% in 2010. Government transfers have risen from 11.7% of personal income in 1980 to 18.4% in 2010, a post-war high.

    The bottom line is simple says Schwenninger: The middle class is shrinking, which threatens the social composition and stability of the world's biggest economy. "I worry that we're becoming a barbell society - a lot of money wealth and power at the top, increasing hollowness at the center, which I think provides the stability and the heart and soul of the society... and then too many people in fear of falling down."
    America

    We will learn to live with less. Well most of us will anyway.
     
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  2. sparky
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    sparky VIP Member

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    it's just a matter of blame game USC...
     
  3. editec
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    editec Mr. Forgot-it-All

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    Sobering facts have a way of being overlooked by a people drunk on propaganda.

    It isn't until the party's over that most of us get that economic headache, which is the price we must pay for our masters' bacchanalia.

    The party is still going on, of course, on Wall Street, but the rest of America isn't invited.
     
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    Last edited: May 8, 2011
  4. bigrebnc1775
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    bigrebnc1775 Diamond Member

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    Let's not forgET about the 1.8 GDP.
     

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