Americans are getting poorer

[Karma]

The typical American household is now worth a third less

Economic inequality in the United States has been receiving a lot of attention. But it’s not merely an issue of the rich getting richer. The typical American household has been getting poorer, too.

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. But during the same period, the net worth of wealthy households increased substantially.

as the saying goes: "everything's going up BUT our paychecks" :sure:

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& an offered reason as to why this happening: The Slow Real Estate Recovery Is Hurting All But the Richest - Businessweek

 

[Black King]

I don't doubt this. There is no money really flowing in the current economy and the's nothing really stimulating at the bottom. our economy needs major revisions

 

[SiD]

I caught a bit of a documentary called "We're not broke" it was about how most of the major companies were not paying taxes by using tax paradises, and that was at least part of the reason for this problem.

Here in Norway there is some issues concerning high wages and prices for materials which then makes some of the companies less desirable internationally because of high prices for the services.

 

[Lord Ravena]

The major issues is that we as a country have watched items rise naturally in price while we have allowed the middle class to be gutted in favor of the very rich and then a HUGE managerial upper-middle class. Everyone else makes shit.

Politically, that upper-middle class is used as the carrot to make the majority of us clamber like crabs in a pot for the brass ring that holds the key to the American Dream. Less and less of us can get it because those jobs are tenuous at best and increasingly require more and more education and connection to acquire.

Meanwhile, in one generation, that 35K house is 175K, that 5K car is 32K, 60 cents per gallon gas is now 4 dollars per gallon and daycare went from an affordable rarity to an expensive necessity thanks to people working longer and being unable to assist their children in such an endeavor.

Welcome to the new world.