Thread: Can the Middle Class Be Saved?

Can the Middle Class Be Saved?

By Don Peck

The Great Recession has accelerated the hollowing-out of the American middle class. And it has illuminated the widening divide between most of America and the super-rich. Both developments herald grave consequences. Here is how we can bridge the gap between us.

In October 2005, three Citigroup analysts released a report describing the pattern of growth in the U.S. economy. To really understand the future of the economy and the stock market, they wrote, you first needed to recognize that there was “no such animal as the U.S. consumer,â€

Excellent article but to make it simple for hillbillies such as myself, for the past 35 years the wealthy and the top rung of the middle class has build wealth by outsourcing and shipping majority of manufacturing to china thus pushing the remaining middle class into the working poor category. Those at the top of th pyramid will fight kicking and scream to remain in China building new aircraft carriers for them while gaining more wealth from poor American consumers.

This is not rocket science or tough economic decisions, unless we manufacture our own products the middle class will die and with them freedom.

The KEY WEALTH INDICATOR of the Middle Class has always been home ownership.

Home property values have dropped over 35% in the past 24 months, and are expected to fall to more than 50% of the purchased value in the next 24 months.

If home ownership is ANY indication of where the American Middle Class's future is, the answer is there isn't one.