Posted on 09/12/2023 5:45:27 PM PDT by CFW
America’s middle class is being systematically eviscerated. When the Federal Reserve pumped trillions of dollars into the financial system during the pandemic, most Americans didn’t realize what that would do to them. That money certainly made the wealthy a whole lot wealthier, but it also dramatically increased the cost of living for the rest of us. So now inflation has been rising much faster than paychecks have, and the cost of living has become exceedingly oppressive. In fact, last year we witnessed the largest decline in real median household income in more than a decade…
"The official tally is in and it is brutal: Americans suffered the biggest drop in household income in 2022 in a dozen years.
Real median household income was $74,580 in 2022, a drop of 2.3 percent from the prior year, the Census Bureau said Tuesday.
This is the biggest drop in household income since 2010, when it household income fell 2.6 percent. That means it is worse than the pandemic decline of 2.2 percent. It is the fourth worst year in records going back to 1985."
(Excerpt) Read more at thelibertydaily.com ...
The link to the article is below. I realize most may not have a subscription to the WSJ, but here is the first paragraphs. It's as if the economic writers at the paper have just now thought of this issue.
"NAPLES, Fla.—Judy Schroeder was living a stable retirement in this affluent Florida enclave. Then her apartment building was sold to a new owner during the pandemic and she lost her part-time job working at a family-owned liquor store.
What followed was a swift descent into homelessness.
Faced with a rent increase of more than $500 a month, Schroeder, who had little savings and was living month-to-month on Social Security, moved out and started couch surfing with friends and acquaintances. She called hundreds of other landlords in Naples and southwest Florida but failed to find anything more affordable. She applied for a low-income housing voucher. She began eyeing her 2004 Pontiac Grand Am as a last resort shelter.
“I never thought, at 71 years old, that I would be in this position,” she said."
https://www.wsj.com/economy/housing/why-more-baby-boomers-are-homeless-2d2b913b?mod=hp_lead_pos7
𝘉𝘰𝘵𝘵𝘰𝘮 𝘶𝘱, 𝘮𝘪𝘥𝘥𝘭𝘦 𝘰𝘶𝘵.
From their perspective, when you push the middle down, the bottom comes up, and then the middle comes out.
It’d be shorter to just title this “socialism on the rise in US”.
Yeah, well food banks work these days.
Let’s go Brandon!
The Democrat Party Organized Crime Syndicate is doing just fine!
So many of these useful idiot middle class and poor people voted for democrats. Enjoy the suck.
Yeah, well food banks work these days.
“Let them eat cake” didn’t work out so well the last time.
I passed by the one about 10 miles from me a couple of days ago.
Such a long line of vehicles. Different types.
Depressing.
Billions in welfare for illegals.
Billions for Ukraine.
Billions for military bases and bombs and F35s and aircraft carriers - more than the next 20 countries combined.
Skyrocketing healthcare and college tuition inflation last 2-3 decades.
All manufacturing jobs outsourced to sweatshop Asian labor.
What is surprising is not why the middle class is struggling but how they have managed to survive so far.
And yet, all these fools will vote for the uniparty based on fluff identity-politics issues.
Eric Hoffer once wrote that the poor don’t make revolutions.
They’ve always been poor, and know nothing else.
It’s the middle classes that revolt, because they remember better times and resent having had them stolen away.
Coastal Florida is no longer a cheap place to live.
try Georgia:
https://www.realtor.com/apartments/Albany_GA/sby-6
try Kentucky:
https://www.realtor.com/apartments/Bowling-Green_KY/sby-6
I checked quite a few towns. I’m rather shocked how high the rents are in general.
What has ALWAYS been the greatest enemy of a thriving middle class??
BIG GOVERNMENT!!!
In our case $3+ trillion of the $4 trillion federal government (AKA “THE Deep State”) is UNCONSTITUTIONAL and therefore, ILLEGAL. So the illegal federal government is impoverishing America.
How many ways does it take for the American People and those here on FR to see that the greatest threat to American and us is THE 80%+ unconstitutional portion of the federal government????
Typically, the response from reading this bedrock truth is generally tepid. People get crazy mad about a lot of things but the deadly and destructive unconstitutional federal government generally gets a free pass.
That MUST change. Either the American People DISMANTLE the $3+ trillion unconstitutional portion of the federal government AKA the Deep State, or it will dismantle America and us.
Our survival depends on us ENFORCING the Constitution against the government!!!
Boomers have had 50 years to prepare, unfortunately many are going to learn the consequences of not delaying gratification …
My former neighbor Mike moved about three years ago to a single family house the next street over which rented for $1900/month, which I thought was steep.
I was told his landlord recently wanted $4500/month and that Mike moved to Lake City, FL.
I remember reading my lease for a $346/month one-bedroom apartment in Reston, VA in 1981 and thought that was a lot of money when I was required to keep the place in perfect condition.
“$4 trillion federal government”
Wake up, Rip.
“National Conference of State Legislatures
https://www.ncsl.org › state-federal › presidents-fy-20...
Mar 27, 2023 — President Joe Biden released the federal budget for fiscal year 2024 on March 9. The $6.9 trillion spending measure’s proposed big-ticket”
The middle class in this nation won’t revolt against the entities that cause their misery. They will listen to the propaganda from the MSM and blame their misery on the biggest threat to democracy, MAGA.
bttt
It is ninety. Dollar oil ……
Welcome to Bidenomics.
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