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The Corporate State's Economy
1 year ago

#1 According to a brand new CNN poll, 59 percent of Americans believe that it has become impossible for most people to achieve the American Dream…

The American Dream is impossible to achieve in this country.

So say nearly 6 in 10 people who responded to CNNMoney’s American Dream Poll, conducted by ORC International. They feel the dream — however they define it — is out of reach.

Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it’s impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs.

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#2 More Americans than ever believe that homeownership is not a key to long-term wealth and prosperity…

The great American Dream is dying. Even though many Americans still desire to own a home, they are losing faith in homeownership as a key to prosperity.

Nearly two-thirds of Americans, or 64%, believe they are less likely to build wealth by buying a home today than they were 20 or 30 years ago, according to a survey sponsored by non-profit MacArthur Foundation. And nearly 43% said buying a home is no longer a good long-term investment.

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#3 Overall, the rate of homeownership in the United States has fallen for eight years in a row, and it has now dropped to the lowest level in 19 years.

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#4 52 percent of Americans cannot even afford the house that they are living in right now…

“Over half of Americans (52%) have had to make at least one major sacrifice in order to cover their rent or mortgage over the last three years, according to the “How Housing Matters Survey,” which was commissioned by the nonprofit John D. and Catherine T. MacArthur Foundation and carried out by Hart Research Associates. These sacrifices include getting a second job, deferring saving for retirement, cutting back on health care, running up credit card debt, or even moving to a less safe neighborhood or one with worse schools.”

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#5 According to the U.S. Census Bureau, only 36 percent of Americans under the age of 35 own a home.  That is the lowest level that has ever been measured.

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#6 Right now, approximately one out of every six men in the United States that are in their prime working years (25 to 54) do not have a job.

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#7 The labor force participation rate for Americans from the age of 25 to the age of 29 has fallen to an all-time record low.

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#8 The number of working age Americans that are not employed has increased by 27 million since the year 2000.

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#9 According to the government’s own numbers, about 20 percent of the families in the entire country do not have a single member that is employed at this point.



This post was modified from its original form on 05 Jun, 12:06
1 year ago

#10 This may sound crazy, but 25 percent of all American adults do not even have a single penny saved up for retirement.

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#11 As I noted in one recent article, total consumer credit in the United States has increased by 22 percent over the past three years, and 56 percent of all Americans have “subprime credit” at this point.

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#12 Major retailers are shutting down stores at the fastest pace that we have seen since the collapse of Lehman Brothers.

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#13 It is hard to believe, but more than one out of every five children in the United States is living in poverty in 2014.

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#14 According to one recent report, there are 49 million Americansthat are dealing with food insecurity right now.

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#15 Overall, the U.S. poverty rate is up more than 30 percent since 1966.  It looks like LBJ’s war on poverty didn’t work out too well after all.

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http://www.fedupusa.org/2014/06/half-the-country-makes-less-than-27520-a-year-and-15-other-signs-the-middle-class-is-dying/



This post was modified from its original form on 05 Jun, 12:10
Personal comment
1 year ago

Meanwhile, the top point one percent have had their greatest increase in wealth over the last 6 years in history (measured by the percent of the nations wealth). .

Note:  I have no problem with people getting rich.....ss long as they are the productive wealthy.  The productive wealthy gain through creation of goods and services.  That increases the nations wealth and increases the number of jobs. A healthy job market increases competition for labor.  That increases wages.

This is not what has been happening.  The vast majority of those that have gained this massive wealth have done so by gaming the system via crony capitalism and through speculation driven by the central banks monetary policies.  These policies have not improved the economy or improved creation of quality jobs.  Government policies are also driven by K Street lobby's that benefit special interests, both corporate and crony labor, especially government crony labor.  

1 year ago

But, but, LBJ's "War on Poverty" fixed all that! 

1 year ago

Isn't government wonderful Katii?  Productivity has increased dramaticly.  But the results are not to be seen for the masses.  

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The oligarchs and special interests got it all.....and then some.......  By the political means.  

1 year ago

Agree with much of what is in this thread. 

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