It is already happening here due to currency devaluation; we are earning less (in terms of what our wages or savings can buy). While prices go up (and the enemedia has a different explanation for each commodity that skirts the obvious truth), we don’t have to face the fact that the $1,000 in the bank now buys $700 worth of merchandise a couple of years ago.
I earn nothing. And pretty much next to nothing for a long time. If it wasn’t for family and then friends, I don’t know.
That’s why I know about the job situation first-hand. I’m sure there are many, even right here on FR that know how bad things are.
And especially since 2008, some portion of it is built on trillions of dollars of debt placed on the American people.