"Destruction Of Middle Class Continues"

LINK

Two week ago Janet Yellen, the current boss of the Federal Reserve, said the American worker would see an uptick in wages.

“Wage increases are still running at a low level, but there have been some tentative signs that wage growth is picking up,” Yellen said. “We’ve seen an increase in the growth rate of the Employment Cost Index and a mild uptick in the growth of average hourly earnings.”

Yellen’s prediction was trashed on Friday when the Labor Department released figures on wages and salaries in the second quarter. The numbers show a scant 0.2 percent increase in wages, the smallest since records began in 1982. The dismal number followed a 0.7 percent increase in the first quarter.

Only Bernie Sanders might be talking about this. Not any GOP candidates of course we know, and Hillary will only give lip service to this and get in office and do like her husband did: NOTHING

In fact Bill Clinton, as Obama is doing now with the TPP trade deal, made it worst with trade deals like NAFTA

This has got to get out to the American public or were finished and will become serfs and slaves again

Zero Hedge says this should not be surprising considering the fact the United States was converted into part-time worker and minimum wage service sector society.

The globalists have worked long and hard to transfer decent, relatively high paying jobs to third world hellholes where people work 12 hours a day for a dollar an hour or less. This has resulted in a massive and unprecedented concentration of wealth by large transnational corporations and the destruction of a middle class in America.

The government has facilitated the gutting of the middle class by imposing a blizzard of rules and regulations on business which in turn encourages it to move operations overseas. Enabling by Congress is quite natural considering it is owned by Wall Street, corporations and large banks.

www.zerohedge.com...

According to David Boyle of the New Economics Foundation, this situation will result in a tiny monied elite lording over a sprawling class of serfs within 30 years.

In a way Jeb has addressed this he said we should work longer hours. That way the wage slaves can really cash in these massive wage increases. Besides the poor and middle class don't deserve any kind of personal life that is for their betters.

Yep. They won't stop until it's gone altogether.

The only way we're getting our middle class back is to take it back, and that won't be easy and would involve us setting aside the differences the very people taking the middle class forced upon us.

The US will look like South Africa before long
Look like Zimbabwe in 30 years.
Considering the anger about slavery from 150 years ago It's amazing that the present course isn't generating more resistance.

Many years ago, I remember here in ATS discussing the downfall of the middle class, yes once the bread and butter of the nation that make changes and had political power to deal with the government, the reason the middle class has been destroyed, is because a strong middle class is a danger to an authoritarian government.

i just cant see them wanting to get rid of the middle class, its where a large bulk of money comes from.
after all EVERYTHING is about the money.

a reply to: Willtell

The poor will always be poor, the rich will always be rich. But the middleclass will try to save what they borrowed.

This is a pretty interesting read: Rise of Big Banks, Fall of The Middle Class: A Brief History of Financial Deregulation

Banks have been steadily deregulated over the last 6 administrations. Since then they’ve created some of the most aggressive lending instruments ever designed; and they sold them to normal people. They then figured out how to rewrite the rules to make even more money with these trash loans. Meanwhile the average person has faced a tougher economy, rising prices, a shrinking middle class, and a depreciating real wage. And none of that has fundamentally changed, it was just sort of allowed to continue.

And that’s the brief overview of how we got screwed.

a reply to: Willtell

It's not a matter of "if" it'll happen, but a matter of "when".

originally posted by: autopat51
i just cant see them wanting to get rid of the middle class, its where a large bulk of money comes from.
after all EVERYTHING is about the money.

Well not exactly I don't think.

Money is worthless it is after all just paper. its what the money can buy that's important.
And if you can send huge swaths of the population into poverty the bank gets to repossess their stuff, which was what the wealthy want anyway.... their land and stuff.

originally posted by: ~Lucidity
This is a pretty interesting read: Rise of Big Banks, Fall of The Middle Class: A Brief History of Financial Deregulation

Banks have been steadily deregulated over the last 6 administrations. Since then they’ve created some of the most aggressive lending instruments ever designed; and they sold them to normal people. They then figured out how to rewrite the rules to make even more money with these trash loans. Meanwhile the average person has faced a tougher economy, rising prices, a shrinking middle class, and a depreciating real wage. And none of that has fundamentally changed, it was just sort of allowed to continue.

And that’s the brief overview of how we got screwed.

That was a good read. Thanks for posting.



Yup... banking deregulations, corporate deregulations, and free trade deals are what have slowly slaughtered the working middle class and boosted the 1% into full blown control over everyone.

Bit by bit, piece by piece.

Until we're all back to 2nd and 3rd world conditions mirroring the eras prior to the early 20th century.... you were either filthy stinking rich or filthy stinking poor. No inbetween.

I can see it now: All of us 'inbetween' serfs having to back to working for the rich as cooks, maids, butlers, drivers, and gardeners.

Weeeeeee !

originally posted by: Punisher75

originally posted by: autopat51
i just cant see them wanting to get rid of the middle class, its where a large bulk of money comes from.
after all EVERYTHING is about the money.

Well not exactly I don't think.

Money is worthless it is after all just paper. its what the money can buy that's important.
And if you can send huge swaths of the population into poverty the bank gets to repossess their stuff, which was what the wealthy want anyway.... their land and stuff.

true..but think of the things they can buy if you give them money.
take away the middle class buyers and you will have problems.

a reply to: autopat51

I appreciate your thoughts on it, maybe I am a bit more cynical than yourself, but I just don't think they care so much.
What I mean by that is this, they already have the money to buy stuff. I personally think they would be just as happy having us living in company owned housing and eating company manufactured foods, while they spend their money on products other company produce. People don't have to get "paid" for the rich to earn money they just have to survive long enough to produce goods.
Here is a real world example of what I mean. They are called "company towns"
en.wikipedia.org...

originally posted by: Punisher75
a reply to: autopat51

I appreciate your thoughts on it, maybe I am a bit more cynical than yourself, but I just don't think they care so much.
What I mean by that is this, they already have the money to buy stuff. I personally think they would be just as happy having us living in company owned housing and eating company manufactured foods, while they spend their money on products other company produce. People don't have to get "paid" for the rich to earn money they just have to survive long enough to produce goods.
Here is a real world example of what I mean. They are called "company towns"
en.wikipedia.org...

i understand what you are saying, but having a hard time wrapping my head around it.
mega corps only want to make money..they worship it.
if mega corp A sells insurance to cover your house, boat, car..ect. wouldnt they want that money continually coming in? if you lose the middle class wont you lose enormous cash flow?
i would think the mega corps would try anything to keep the middle class alive.
the mega rich would buy stuff of course..but not nearly the volume needed to sustain the mega corps.
i dont know

a reply to: autopat51
Yes they would still get that "money" anyway, however it would be provided by the mega corp. (Think of it as loss prevention) They don't mind things like insurance so much because things like insurance is not really a "thing" its a concept.
I cannot for example give my insurance to my neighbor, like I could something tangible like a car.
Why?
Because the insurance has no innate worth or value until its needed. (the reward is almost like Schroeder cat; is it in the box or not?)
For Example
Say I have auto insurgence, that gives me full coverage so if I total it they will replace it.

There is a very real possibility that I never actually have to have to make a claim.
The odds that I have to make a claim however increase the longer I own it.
The longer I own it the less the car is worth.
The less the car is worth the less I can claim on my loss if it is totaled.
The less I can claim the less they have to pay.

So sure they would cover your "insurance" to go see their on site Doctor while you had value. Because you are their property and you are an investment... until you get totaled out so to speak. i.e. too old too sick etc.
Why?
Because you are no longer worth the investment in resources.

Now remember we are talking about living in a company town in this scenario, so you are basically working to just live, buying mega corps food, tv's cars and insurance etc.

Since you have no real expendable money because it is all going right back into the mega corp that you work for and they determinate cost and wage it is not as if you would be able to pay a lawyer to get some satisfaction.

woops

a reply to: Punisher75

i think we are talking two different things here.
i am talking maintaining the middle class for its constant cash flow, and you are talking about owing your soul to the company store.

originally posted by: autopat51
a reply to: Punisher75

i think we are talking two different things here.
i am talking maintaining the middle class for its constant cash flow, and you are talking about owing your soul to the company store.

I think we are as well. But I think that that is ultimately the end result and goal.
The true definition of Fascism promoted by both parties.

originally posted by: buster2010
In a way Jeb has addressed this he said we should work longer hours. That way the wage slaves can really cash in these massive wage increases. Besides the poor and middle class don't deserve any kind of personal life that is for their betters.

The more I read from you the more I wonder if you're just some AI designed by the democratic party. It's just like a stream of click bait type comments. You seem to be totally free of the normal bounds of what most people consider rational information.

Maybe if you try hard enough you can condemn gun ownership in this thread and denigrate some people that don't agree with you too. Is it hard to interact with us humans?

It's a shame because some of the problems you mention are real, like wage parity but you parrot the nonsense that politicians spew as solutions.