The Phaserl


19 Signs That American Families Are Being Economically Destroyed

by Michael Snyder, The Economic Collapse Blog:

The systematic destruction of the American way of life is happening all around us, and yet most people have no idea what is happening. Once upon a time in America, if you were responsible and hard working you could get a good paying job that could support a middle class lifestyle for an entire family even if you only had a high school education. Things weren’t perfect, but generally almost everyone in the entire country was able to take care of themselves without government assistance. We worked hard, we played hard, and our seemingly boundless prosperity was the envy of the entire planet. But over the past several decades things have completely changed. We consumed far more wealth than we produced, we shipped millions of good paying jobs overseas, we piled up the biggest mountain of debt in the history of the world, and we kept electing politicians that had absolutely no concern for the long-term future of this nation whatsoever. So now good jobs are in very short supply, we are drowning in an ocean of red ink, the middle class is rapidly shrinking and dependence on the government is at an all-time high. Even as we stand at the precipice of the next great economic crisis, we continue to make the same mistakes. In the end, all of us are going to pay a very great price for decades of incredibly foolish decisions. Of course a tremendous amount of damage has already been done. The numbers that I am about to share with you are staggering. The following are 19 signs that American families are being economically destroyed…

#1 The poorest 40 percent of all Americans now spend more than 50 percent of their incomes just on food and housing.

#2 For those Americans that don’t own a home, 50 percent of them spend more than a third of their incomes just on rent.

#3 The price of school lunches has risen to the 3 dollar mark at many public schools across the nation.

#4 McDonald’s “Dollar Menu & More” now includes items that cost as much as 5 dollars.

#5 The price of ground beef has doubled since 2009.

#6 In 1986, child care expenses for families with employed mothers used up 6.3 percent of all income.  Today, that figure is up to 7.2 percent.

#7 Incomes fell for the bottom 80 percent of all income earners in the United States during the 12 months leading up to June 2014.

#8 At this point, more than 50 percent of all American workers bring home less than $30,000 a year in wages.

#9 After adjusting for inflation, median household income has fallen by nearly $5,000 since 2007.

#10 According to the New York Times, the “typical American household” is now worth 36 percent less than it was worth a decade ago.

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7 comments to 19 Signs That American Families Are Being Economically Destroyed

  • Willie

    “are being”? How about “have been”? If you were alive 60-70 years ago then you will understand.

  • Got tired of playing the game! In 2006, I earned $10k from a 2nd job. The IRS took it all! Retired at 63 and getting ready for the end game. This can’t go on much longer. It’s a house of cards, a Ponzi scheme for sure. Have your go bag ready, your vehicle gassed up, and a good generator! It would be good to be off the grid!
    Get barter goods, hone your skills, and stash some metal. Good Luck to us all!
    Were gonna need it!

  • Ed_B

    “We consumed far more wealth than we produced…”

    Which is precisely where the author can end his list of reasons because this one alone is more than sufficient to guarantee a systemic collapse and widespread poverty for millions of Americans.

    Before I retired, I got into personal financial planning. Not for others but for myself and my family. This stuff is not all that difficult to learn but does require a lot of reading and the taking of some notes. I did this for the very simple reason that: 1) it’s not that difficult; and 2) no one else cares as much about me, my money, or my financial future as I do. Because of 2), no one will do as careful a job of this as I did. It worked out well. When the “pros” out there recommended that I save 10-15% of my income, I saved 40% of it… sometimes more. After doing that for about 25 years, I had more than enough money to retire at age 55. I write this not to brag or anything like that but to inform. Retirement IS possible but it takes a substantial effort and the willingness to defer gratification for years on end. Lots of people look at my situation today and say, “Wow! You’re doing great!”. But very often, they do not see the years of driving 2nd hand cars, brown-bagging it, taking few vacations, buying mostly items that are on sale, carefully shopping to get the most for the money spent, and always saving and investing. That was the effort piece that is not as visible as the end result. Honestly, it is also the part that a lot of people simply don’t want to do… and that’s fine. It’s not for everyone. My wife was not all that happy with me and my frugal ways but once the goal was achieved, she admitted that it was good that we had saved and invested.

    So… the bottom line is that life does a lot to slow us down and derail our goals but we can also be willing participants in that via spending foolishly. Just don’t buy things that you don’t truly need. Save the money instead. You’ll be better off in the end and won’t be as worried about difficult times as those who are less careful with their money are and will be. Retirement only seems far in the future. It has a way of arriving faster than we think, whether or not we’re ready for it. The same is true of our kids and grand kids educational needs. They come quickly too and need some attention.

    • Gnostic


      Your life is your life, I am happy it has worked for you in your retirement plan. I was 55 when I lost my job with a Japanese firm, I was a 6 figure man. My sector was related Manufacturing engineering. I was flown to Chicago for an interview with a German firm but they hired a younger chap for less money. I am now cynical, can you blame me? For many here who have good careers take note, you too can fall between the cracks. I blame the controllers, who from my estimation are elite Jews.

      • Gnostic

        PS- In the end it will not matter how smart/lucky one is.

        • glitter 1

          Gnos,you are correct.I was fortunate to start and retire for the same Company,a 40yr career,which today it would never happen.The opportunities that existed 40-45 years ago no longer are there.Even though I went to work for a utility I realized early on just how fortunate I was.I always made good money and there was alot of opportunity to move around and upward.Those same opportunities don’t exist in that same company today.During the mid 80’s with all the “down sizing/right sizing” going on I knew what was happening.Corporations were getting rid of the Old Guard and hiring the next generation,which was cheaper and brainwashed to the new PC dogma.The America we grew up in doesn’t exist anymore,it’s being transformed to something ugly and I feel for my children and grandchildren.

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