The Long Death of America’s Middle Class, by Nick Giambruno

The rich get richer, the poor get poor, and the middle class is no longer the middle, if you define middle as the majority. From Nick Giambruno at caseyresearch.com:

Justin’s note: In America, what separates the “haves” and the “have nots” has never been wider. It’s a genuine crisis. And yet, few people know why this is happening.

Casey Report editor Nick Giambruno just shared all the details about this crisis in his latest issue. Read on to see what’s really dividing America… why this situation is only going to get worse… and finally, four time-tested ways to build lasting wealth as this trend play out.


By Nick Giambruno, editor, The Casey Report

The American middle class is dying.

In 2015, it dipped below 50% of the population for the first time since data collection started on the issue. It’s now an official minority group.

Meanwhile, nearly half of Americans don’t have enough money to cover a surprise $400 expense. Many are living paycheck to paycheck, with little to no cushion. And US homes are less affordable than they’ve been in decades—possibly ever.

I’ll tell you why this is happening and how to secure your spot among the “haves” in a moment. But first, let’s take a look at the America that was.

The Largest Middle Class in World History

The late 1950s was the golden age of America’s middle class.

This isn’t nostalgia talking. The US really did have robust Main Streets and thriving small businesses.

Back then, the US produced three-quarters of the world’s cars and airplanes. Americans produced most of the world’s steel and built the majority of the world’s skyscrapers.

Plus, the US stock market held the bulk of the world’s total stock market capitalization.

All this productivity gave the average American an unusually high standard of living.

Around then, a husband could support his family on an average income. He and his wife likely owned their own home, as well as their car. They had multiple children—and didn’t think much of the cost of having more. Plus, they had money to save.

To continue reading: The Long Death of America’s Middle Class

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One response to “The Long Death of America’s Middle Class, by Nick Giambruno

  1. What utter crap, the poorest Americans enjoy luxuries the richest Americans of the 19th Century could only dream about. The author can’t even describe the middle class. My parents were not middle class but they aspired for better and they achieved it, becoming millionaires. I didn’t start out as middle class but I am by any measure financially secure and probably be described as wealthy. Do I live like I am rich-no I drive a 19 year old car, I do not take vacations having traveled and worked overseas for most of my life. I’d rather work on my hobbies. I live in a modest home that has been upgraded to my tastes and requirements. I wear worn out but neat jeans and work boots. I don’t eat out, we make better meals at home than I could get at most corporate eating places.

    But I do buy my toys, nothing flashy, but I don’t deny my children or wife. The kids all started young learning the virtue of an honest days work. They went to school on scholarship and by working their way through. Three boys served in the armed forces before going to school. And when they went they knew what they wanted to be and achieve unlike the snowflakes out there.

    The American dream isn’t dead, just ask the immigrants who keep fighting to get here. What is dead is the spirit of self reliance and independence that we once cherished, at least dead in the hearts of the snowflake generation and the socialist leeches, who want everything you have worked for.

    Like

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