Happy Labor Day – the economy sucks!
Many of you SHTF blog readers I’m sure have today off, but no break here, bloggers don’t get paid the BIG bucks unless we keep writing. No paid holidays for us, so go use my Amazon search bar to buy something, will ya?
Will blog for Amazon commission!
The economy, presently sitting in the potty waiting for a flush, has meant fewer people are now able to reach “middle-class” status according to a recent article on Yahoo Finance where it states:
Today, the middle class is a vanishing breed according to nearly every survey and statistic on the topic. Its disappearance is of such grave concern to the fabric of American society that the U.S. government launched a task force to explore the issue. Despite all of the attention to the subject, defining “middle class” remains a challenge, as everyone wants to be in the middle regardless of their income.
Are YOU middle-class?
Six signs you have made it to the middle-class:
- Home Ownership – when you move from renter to home owner you purchase an asset
- Automobile Ownership – your vehicle choice (cost) may impact the success or failure of other financial goals
- College Education for Kids – helping kids get ahead is a goal valued by most parents
- Retirement Security – fewer people, with the end of employer pension plans and the stock market plunge, have a harder time reaching retirement security
- Health Care Coverage – health care costs are rising for everyone and adequate health care coverage is more difficult to obtain
- Family Vacation – the financial ability to vacation implies a level of financial success
Whether you agree with the 6 criteria or not (I agree with some, but not others), there is little doubt that a “middle-class” lifestyle (however you define it) is becoming an increasingly difficult goal to achieve. Why exactly? The writer states:
Globalization and technological advances began to reverse the growth of the middle class. The manufacturing base in the United States changed, as good-paying jobs in factories and heavy industries went overseas to lower-paying markets and labor unions lost much of their ability to bargain for high wages and good benefits. Later, white-collar jobs from accounting and data entry to reading medical images and answering telephones in call centers were also sent offshore. Many jobs that remained in the U.S. were eliminated by computers and other technological advancements that increased productivity.
So are you bumming that you didn’t make it to “middle class”? Wait – there’s good news! CNBC reports that economists see gloom and doom ahead – especially for the U.S. …. oops – did I say good news?
– Ranger Man
BTW: If you like any of the buttons pictured in this post, they’re $2.00 each at Creative Blok.