And it's not ending. It seems that now cities are doing massive construction endeavors to attract business, tourists/conventions, and high-income housing. That bubble has to burst.
With the disappearing middle class, the problem is that US citizens are in an even deeper hole. How many people could save for their future needs, even if they wanted to? That requires a stable job and an income that keeps up with expenses.
I'm wondering how much disposable income has disappeared in the US.
I'm not atypical. In my peer group (retires who have a responsible plan for future needs) everybody is cutting back where ever they can. Necessities keep taking more income...and lower gas prices don't mean much if you don't do much driving.
Does anyone have a plan to restore the middle class? Without that, it's hard to imagine that there's a solution.
I turn 65 this year and am watching my business slip into serious trouble. I will need to find cash to keep it alive but can see no way to make a good result No profit and no cash for me. I am definitely becoming dispirited. This is the worst time of my life. All of this since the end of November.
Your post regarding retirement is valid. We have a large population who are unable to invest for retirement, but I also believe that a major stock market crash is coming that will wipe out much of what those who have invested expected to receive. I believe it will be so great a crash that it will throw the entire world into global economic chaos. Our government already has formulated plans to seize all IRAs, TSPs, and 401Ks. All they need is for the crisis to happen. They will us whatever money is left to shore up entitlement programs. Mark my words.
Particularly with interest rates so low.
The modern day Kulaks for the New World Order...