What does Detroit say about the working class in the US? City has lost over 25 percent of its population since 2000. People take scrap metal from old buildings to export to China.
One of the biggest examples of the US eroding its working class is through the example of Detroit. The city of Detroit has lost a stunning 25 percent of its population between 2000 and 2010. Poverty is rampant with 3 out of 5 kids living below the poverty line. It is a startling revelation of […]
US median household income trap: Four decades of data and households struggling to keep up with inflation. Younger Americans face bigger income struggles.
Household income growth in the US has largely been absent for well over a decade if we adjust for inflation. This is important because people truly care about what their money can purchase. What use is it getting a $1 raise if healthcare went up $2? What use is it that you are earning $1,000 […]
American Gerontocracy: Since 2009 2.7 million jobs for those 16 to 55 have been lost yet 4 million jobs were added for those between 55 and 69.
It is still a tough time to be young and looking for work in the United States. With the steady destruction of blue collar industries with living wages, many have to pursue a college degree for any chance at becoming middle class. Yet higher education has become a debt plagued mess where students have to […]
Retirement no more: Median net worth at lowest level since 1969 recent study finds.
There may be a temporary jubilee with the notion that the fiscal cliff has been deferred for a few months. The media is quick to accept anything for a victory but very little has been done to stop our marching path onward on this massive debt spiral. Many Americans continue to live in poverty with […]