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How the Middle Class Became the Under Class

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posted on Feb, 16 2011 @ 09:24 PM
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The definition of a "middle class" used to include the ability to save a goodly amount of money. As bills were paid from the paycheck, there was always enough to put $ into a bank(S&L) savings account.

With stagnant wages but rising expenses, the "middle class" started to save less and less. "The Middle Class' Lost Future" ...and this is from August 2005 and describes the "overvalued" housing market even then!

The middle class savings got diverted to rising costs of health care, college education, housing, energy, food, With the need to extend credit for longer periods of time to pay for these rising costs (ex. from a 10 year mortgage to a 30 year ...or even 50!...and car loans from 2 years to 6) middle class wealth was also gobbled up by the financial industry, which, along with lower wage service sector, replaced the manufacturing sector.

All this outgo got so bad, I wrote to Pres Bush and told him to stop giving me tax cuts, because right after the tax cuts were announced, I received letters from all my insurances informing me how they were raising my rates. There used to be a joke about the retired parents spending their children's inheritance on an rv or travel. Well, that won't be a problem now. And it's no joke.




posted on Feb, 17 2011 @ 06:48 AM
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Looking over this thread this morning. Everyone seems to agree with the information in the OP.

Not a single word or suggestion towards change.

I don't know if it's the prozac, the xanax, the chemicals in the water, the "chemtrails" in the skies, the aspertame, MKUltra, the aliens, interdimensional beings, the Bilderbergs, or Rome.

But we have lost our drive, our motivation, our spirit. We will take whatever they dish out. We are not even the same people we were three decades ago.

We have become impotent.

In Egypt, people are still *alive*. They still know how to make "right" a wrong. We are clueless.



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