Death of the Middle Class

Middle Class Destitution – A Devastating Tale From America’s Heartland

He had made the drive enough times to already suspect what he might find. Stride Rite had left Huntington for Mexico at the tail end of the recession; Breyers Ice Cream had closed its doors after 100 years. In the weeks after each factory closing in his part of Indiana, Lewandowski had listened to politicians make promises about jobs — high-tech jobs, right-to-work jobs, clean-energy jobs — but instead Indiana had lost 60,000 middle-class jobs in the past decade and replaced them with a surge of low-paying work in health care, hospitality and fast food.

Pew Research Study – The American Middle Class Declined in 90% of Metro Areas From 2000-2014

When you bail out financial criminals and predators, you get a criminal and predatory economy. If there’s one clear lesson from the 2008 crisis and its aftermath, that should be it.
– From last year’s post: Another Tale from the Oligarch Recovery – How a $1,500 Sofa Costs $4,150 When You’re Poor