Some like to think that the middle class has always been a fixture of American society. In fact, the rise of a steady and strong middle class didn’t happen until after World War II. Clearly people can’t look at the economically painful Great Depression, which rampaged the nation from 1929 to 1939 as a good time foraverage Americans? In fact, even a few years after World War II the nation hit a few rough patches with price controls and millions of Americans rushing back into the workforce. But with many of the industrial economies in tatters in Europe and Asia, the U.S. had a well positioned spot for decades of strong growth. But make no mistake by looking at history that we were producing and manufacturing goods for the world. And things seemed to work out well for many Americans even with a robust manufacturing base.
The above chart is extremely telling. There are many reasons and explanations for the Great Depression but World War II clearly got our employment machine going. That is something that we are struggling with today. After all, even with the two wars going on today, much of the warfare doesn’t require heavy machinery like fleets of tanks. What use are thousands of tanks if someone with an improvised explosive can do just as much damage? So simply saying war is what will drag an economy into production is not necessarily true especially in the modern era.
The middle class today has it very different from the same family in the 1950s. Back then, one blue collar income was enough for the purchase of a modest house, a car, and a bit of money for savings without going into massive amounts of debt. That is no longer the case. Even though in the last year debt loads have fallen (because of bankruptcy and millions of foreclosures) American households are still highly over leveraged with debt:
Here is some stunning data for comparison:
More Here..
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I wonder at what point Obama wil decide to convert back to being a muslim? I remember that about two months before he was elected president, watching a news clip of Obama being greeted by some muslim looking guy and being greeted in a strange way, but in a way I had seen before. So I looked up how muslims greet each other and sure enough that is how muslims greet each other. I also found out that a muslim will not greet another person in that manner unless they are a muslim. I have tried to find this news clip, but have not been able to find it. I saw it on Fox news. They were not pointing this out, I just had just noticed the strange greeting. I have been convinced ever since that he is a muslim and that he will convert back when he thinks the time is right.
ReplyDeleteIt is no wonder that US relations with Israel are strained. We have muslim president who can't stand the Jewish people. This is going to drive Israel to attack Iran and start world war III.
ReplyDeleteAh poor middle class having to sell the second SUV and can't afford the latest 3D TV. No more soccer lessons for janie. Gotta scale back on the manicures. Shopping just isn't the same. And of course you have the lower class nipping at your heels wanting to pick up your crumbs. Heathens the lot of them!!!
ReplyDelete9:48 you get the award for most ridiculous post of the week.
ReplyDeleteIsrael and the US have been looking to attack Iran for a long time and it doesn't have anything to do with muslims.
9.39
ReplyDeleteWhat makes you think you have the right to know
or speculate on the Presidents ligion ,Whether he was born a Christian a Jew or Moslem or where and when he was born
You have no such right to an opinion on that till you see the FULL birth certificate and that is not going to happen.
He is protected from showing you that by his handlers of the elite.
You want to make a federal case out of it?
Call out the FBI!
On the other hand better call out interpol.
I hear the Monarch Obama has signed an executive order giving INTERPOL sovereign state immunity .
So if he has stashed away any documents at their office the FBI has no right to enter their premises. Thats the rule of law in america today .Interpol and Monarchy Patriot Acts and a toothless FBI
But ,have a little respect for his privacy after all he is your President or monarch.
And suck up to the NWO and your interpol police.
To much Fox News mentality here. I'm out! Hope you are all wrong, if not, I'm glad I'm out.
ReplyDeleteAnd now for a little relaxing trip down memory lane:
ReplyDeletehttp://www.youtube.com/watch_popup?v=NINOxRxze9k
You might want to update that link. It gives a 404 file not found.
ReplyDeleteYup I guess some of you "middle" class will have to forgo that new Ipod, or that new G4, but than its only gona be 60 bucks a month, you can handle that along with your 30 for High speed Internet right? and don't forget that new cell phone, I mean damn you can't be without that camera and texting.
ReplyDeleteI don't even own a cell, let alone a LCD HD TV, I still use dialup, so I guess I'll fit right in this new Middle class, smirks.
939 has reading comprehension problems, the article says " How the Middle Class Evaporated in the last 40 Years", And what does this Numbnuts say, when is obama going to be a muslim again! With Jesus fckers like this guy, no wonder this country is screwed.
ReplyDeleteYeah, the berther/muslim crap here shows that much of the reader base is full of brainless wonders. Enjoy your blog. I was hoping to see something intelligent!
ReplyDelete