Jul 10 2010
Middle class shuffle – how the banking system has given the illusion of prosperity with debt serfdom to working and middle class Americans. $14 billion in consumer credit yanked from the system last month.
A cold bucket of water was thrown on many middle class Americans when the consumer credit figures for May were released. Analysts were expecting an increase of $1 billion but instead over $14 billion in consumer credit was yanked from the system. You would think that a growing and healthy economy would require more credit [...]
Apr 24 2010
America’s Working Poor: How 12 Million Americans went from Working Poor to Food Stamps in Two Years. 38 Million Americans in Poverty by Government Statistics. The Importance of Education in Pulling People out of Poverty.
The middle class in America has been under assault for years but this recession only magnified the issue. Most Americans, 6 out of 10 own their home and this is where most of their wealth is stored. Yet the housing bubble bursting has wiped out much of what they once thought was part of their [...]