How the Bubble Destroyed the Middle Class

[ShockediSay]

Source: Market Watch

A lot of people say they are deeply puzzled by the slow recovery in the U.S. economy. They look at the 9+% unemployment rate and the mediocre growth in national output, and they scratch their heads and wonder: Where is the boom that inevitably follows a deep bust, such as we experienced in 2008 and 2009?

But there is no mystery. What other result would you expect from the financial ruin of the once-great American middle class?

And make no mistake, the middle class has been ruined: Its wealth has been decimated, its income isn't even keeping pace with inflation, and its faith in the American economy has been shattered. Once, the middle class grew richer each year, grew more comfortable, enjoyed a higher living standard. It was real progress in material terms.

But that progress has been halted and even reversed. In some respects, the middle class has made no progress in a generation, or two.



Read more: http://finance.yahoo.com/banking-budgeting/article/113086/bubble-destroyed-middle-class-marketwatch;_ylt=AncPdUhtujuxAObweiOvxGa7YWsA;_ylu=X3oDMTE2NWhwa2hpBHBvcwMxMARzZWMDdG9wU3RvcmllcwRzbGsDaG93dGhlYnViYmxl?mod=bb-budgeting&sec=topStories&pos=7&asse

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Why does everybody talk about Middle Class? NINETY-EIGHT PER CENT OF US were broken by the Bush Tax Cuts.

[harun]

1. Because they don't want to say Lower Class.

[ShockediSay]

3. But if we are all in this together

aren't we more likely to rise up as a nation and throw out our Top 2% Overlord Republicans? Aren't we more likely to take away their tax welfare subsidies we give them to destroy 98% of us?

[Lasher]

6. Pervasive propaganda has so far stifled meaningful resistance.

And they have infiltrated our ranks with their own sympathizers.

[ShockediSay]

8. You've got that right - these right wing neo fascists have one very effective Propaganda Machine

Why can't we mount a unified counter propaganda effort. We and 98% of the American People lose at every turn.

[wilt the stilt]

2. Coincides with Reagan

and the ridiculous Trickle down economics and the worship of greed.

[yardwork]

5. It sure does. k&r

[Uncle Joe]

4. Kicked and recommended.

Thanks for the thread, ShockediSay.

[rhett o rick]

7. There are only two classes, and my class is losing. nm