I live in a Red controlled area. It's gotten so bad that I bought a gun for protection of my home. It's not Blacks or Browns that are running rampant, it's whites. Any place that is ecomonically hurting will end up like this. And whatever the majority of the population for race will be doing the crime. Outside of my Military time, I have never before now to have the need of a handgun. So don't give me this crap that it's all about the Democrats and blue areas.
Well, at least you've noticed there's a problem..granted, you don't understand why just yet.
GREAT, you noticed!
The Demise of the American Middle Class In Numbers.
Over the past 30 years the American dream has gradually disappeared. The process was slow, so most people didn’t notice. They just worked a few more hours, borrowed a little more and cut back on non-essentials. But looking at the numbers and comparing them over long time periods, it is obvious that things have changed drastically. Here are the details:
1. WORKERS PRODUCE MORE BUT THE GAINS GO TO BUSINESS.
Over the past 30 years worker productivity has grown by 2.0% per year.
But after 1980, workers received a smaller share every year. Labor’s share of income (1992 = 100%):
1950 = 101%
1960 = 105%
1970 = 105%
1980 = 105% – Reagan
1990 = 100%
2000 = 96%
2007 = 92%
A 13% drop since 1980
2. THE TOP 10% GET A LARGER SHARE.
Share of National Income going to Top 10%:
1950 = 35%
1960 = 34%
1970 = 34%
1980 = 34% – Reagan
1990 = 40%
2000 = 47%
2007 = 50%
An increase of 16% since Reagan.
3. WORKERS COMPENSATED FOR THE LOSS OF INCOME BY SPENDING THEIR SAVINGS.
The savings Rose up to Reagan and fell during and after.
1950 = 6.0%
1960 = 7.0%
1970 = 8.5%
1980 = 10.0% – Reagan
1982 = 11.2% – Peak
1990 = 7.0%
2000 = 2.0%
2006 = -1.1% (Negative = withdrawing from savings)
A 12.3% drop after Reagan.
4. WORKERS ALSO BORROWED TO MAKE UP FOR THE LOSS.
Household Debt as percentage of GDP:
1965 = 46%
1970 = 45%
1980 = 50% – Reagan
1990 = 61%
2000 = 69%
2007 = 95%
A 45% increase after 1980.
5. SO THE GAP BETWEEN THE RICHEST AND THE POOREST HAS GROWN.
Gap Between the Share of Capital Income earned by the top 1%
and the bottom 80%:
1980 = 10%
2003 = 56%
A 5.6 times increase.
6. AND THE AMERICAN DREAM IS GONE.
The Probably of Moving Up from the Bottom 40% to the Top 40%:
1945 = 12%
1958 = 6%
1990 = 3%
2000 = 2%
A 10% Decrease.
Links:
1 =
ftp://ftp.bls.gov/pub/special.requests/pf/totalf1.txt
1 =
https://www.clevelandfed.org/Research/PolicyDis/No7Nov04.pdf
1 =
Clipboard01.jpg (image)
2 –
Congratulations to Emmanuel Saez
3 =
http://www.demos.org/inequality/images/charts/uspersonalsaving_thumb.gif
3 =
U.S. Bureau of Economic Analysis (BEA)
4 =
Federated Prudent Bear Fund (A): Overview
4 =
FRB: Z.1 Release--Financial Accounts of the United States--December 10, 2015
5/6 =
15 Mind-Blowing Facts About Wealth And Inequality In America
Overview =
http://www.ourfuture.org/blog-entry/2010062415/reagan-revolution-home-roost-charts