Proverbs 22:16 – “He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want”
Hurt Like No Other: The Middle Class
There really is no middle class. Hurt like no other, the middle class has been decimated.
It meant you could afford a decent living standard. Owning a house and a car and had savings in the bank.
The shrinking of the middle class is accompanied by an increase in the share of adults in the upper-income tier.
The Census Bureau clearly shows the problem in the “mean household income data” through 2021.
Debt is not a choice for most “middle-class” Americans.
With the Federal Reserve focused on combatting inflation by tightening monetary policy, the financial pressures on households will continue to increase.
Consumers are struggling to maintain their standard of living.
60 percent of Americans say they are living paycheck-to-paycheck.
In determining their social class, people often don’t just think about income. They take into account, their education, location, and family history.
Conclusion
The reality is that middle-class America continues to shrink as the rich-get-richer and poor-get-poorer.
The rich can invest, save, and use very little debt to sustain their living standard, while the poor rely on debt, making long-term prosperity an impossible goal.
As the peasants demand “more free stuff” from the government, such requires more debt and higher taxes.
Inflation will never go down. More jobs must be loss per the Feds.
The share of annual incomes between the bottom 80 percent and the top 5 percent is evidence of that wealth transfer from the middle class.
It’s upsetting to see the truth right in front of your face and feel helpless.
No policy will ever be established under this regime to set things right!
The bible forewarns of trying times to come. We have to take responsibility for our personal finances.
Prepare yourself for unwavering unprecedented economic times. This is not the time to invest in a $1000 bag or $350 pair of sneakers.
This is the time to get your house in order and keep your lamps filled with oil.
DISCLAIMER: I am not a financial adviser. This site is for educational purposes only. It is imperative that you do your own research. I am sharing my opinion from personal research and experience with no guarantee of gains or losses on investments, finance etc.
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