What does it mean to be poor? If it means living at or below the poverty line, then 15 percent of Americans — some 46 million people — qualify. But if it means living with hardly any savings — so that one piece of bad luck, one major financial blow, could land you in serious, […]
Posts Tagged ‘middle class’
Another 81 million Americans one step from poverty
February 5, 2012The Nature of the Arab Economies
March 6, 2011Most of the Arab economies where the revolts are taking place are based on ‘rents’ from oil, gas, minerals and tourism, which provide most of the export earnings and state revenues (Financial Times, Feb. 22, 2011, p. 14). These economic sectors are, in effect, export enclaves employing a tiny fraction of the labor force and […]
The gap between the rich and the middle class and the poor
December 28, 2010The richest 1% of U.S. households had a net worth 225 times greater than that of the average American household in 2009, according to analysis conducted by the Economic Policy Institute. That’s up from the previous record of 190 times greater, which was set in 2004. Meanwhile, the average family’s net worth plunged 41% from […]
American economical ladder of upward mobility is dismantled
October 11, 2010The US economy has been losing jobs for a decade. As manufacturing, information technology, software engineering, research, development, and tradable professional services have been moved offshore, the American middle class has shriveled. The wage and salary cost savings obtained by giving Americans’ jobs to Chinese and Indians have enriched corporate CEOs, shareholders, and Wall Street […]
Economic insecurity at 25 year high
July 22, 2010Insecure about your finances? You’re not alone. Economic insecurity in the U.S. is at its highest point in 25 years, according to a new report. Almost one in five Americans are estimated to be insecure in 2010, compared with less than one in eight in 1985, according to the report from the New York-based philanthropy […]
Sad Stats and Sinking Status of the U.S. Middle Class
July 18, 2010The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace. 22 statistics detailed here prove beyond a shadow of a doubt […]
Nine myths about the US Government’s concern for its people
April 12, 2010When you compare the US with the rest of the 30 countries of the Organization for Economic Cooperation and Development (OECD), Myth #1. The US government is involved in class warfare attacking the rich to lift up the poor. The gap between the rich and everyone else is wider in the US than any of […]
