Mississippi has been a shithole since the 1970s Population is going, spending money we don't having on a bloated, useless military Billionaires shouldn't exist. They should be forced to give excess wealth to government, relatives or trusted charities
at least you can buy stuff by printing dollars (aka credit cards), here in mexico we have some manufacturing jobs but they pay a misery and prices raise and raise, and credit card interests are exhorbitant so we can not purchase anything, we only survive. People in wall street are the biggest winners, because they use the money they print to buy assets like real estate and stocks and they get richer and richer.
My dad and mom didn’t go to college. They both graduated high school in 1960. Dad was a plumber. Mom was a homemaker. They had four kids. Owned a nice house. And all the kids went to college. That life is gone nowadays for young people.
You just described my family as well. My dad was an independent building 👷♂️ contractor and my mom was a homemaker as well. My brothers did go to college as well. These days are truly challenging. Well stated.
My grandparents didn’t finish college. Grandma was a bank teller, grandpa was in the army and worked at a pool store. They have a nice house (for LA standards) and supported 2 kids through private colleges and were never struggling. I’m a CS new grad and don’t even see that happening to me if I ever have kids
How can you think that kind of lifestyle is sustainable? You parents were able to do so bcos the country benefited from being the superpower post WW2. Now the country is losing in global competitions and so normal peoples lifestyle back to what it should have been
Rent, cost of college, daycare and pre school, and health care costs are out of control. Most of my friends younger than me have chosen not to have kids, and I don't blame them at all for that decision.
Don’t forget being taxed to death. I am a hard-working middle class American just like you, and paid more in taxes last year than a lot of people bring home in annual salary. Ridiculous.
This is spot on. I am 37 and have decided not to have kids due to the exact reasons you listed. Rent, college, daycare, and health care. Exactly those four, the things that are necessary to live and raise a family are being criminally overpriced because there are no alternatives.
Modern life style of human bieng is deteriorating the ability of humans to produce life and certainly soon it will completely end life generating capabilities of human bieng.
My plan was to retire at 62, work part-time, and save, but rising costs have derailed it. I'm worried if those who faced the 2008 crisis had it easier. With a lower income and a shaky stock market, I fear I won’t have enough savings for retirement.
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
I agree completely. I’m 60 years old, recently retired, with about $1.95 million in non-retirement investments. I have no debt, but not much in my retirement accounts compared to the rest of my portfolio from the past few years. Honestly, you can’t ignore financial advisors, just take the time to find a good one you can trust.
My daughter is 25 and still lives at home with my wife and I. She works full time and saves most of it. I told her to keep saving until she has enough to buy her own house to live in or rent out, or save enough until she has enough money to start her own business. She only has to pay the electric bill, so she's stacking up lovely. That's one way to make it. Family should help family if they're trying to make it.
My grandfather was a mail carrier for the USPS and grandmother was a homemaker. With that one salary they bought a house, raised four children, and sent all four children to catholic school. They didn't have money for any extras, but they had enough for food, healthcare, clothing, etc. and didn't receive food stamps or any government assistance. That would be impossible to do today.
The rest of the purchasing power is going to the central bank slowly overtime. Politicians are not allowed to lift that paper currency of their own nation and start talking about it. It's supposed to be an independent institution so they "run the economy the best way" with trillions in debt apparently.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@shirleneunglesbee1423 I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.
Whatever you do, don’t take a serious look at what Jews who’s family immigrated to America from Eastern Europe around the turn of the 20th century have been doing.
Another thing that bothers me when people talk about the middle class is, no one seems to care about the singular middle class person. It's just about families. It's almost as though the people who've decided not to have a family don't matter, as though we don't struggle too. When things are put in place... tax breaks and such... it only seems to benefit families.
Chantal’s story is so relatable. Taxes and insurance eats a HUGE portion of your paycheck, and you still find yourself out of pocket for healthcare costs. It’s insane
@@randiaz95 I make six figures and my total payroll taxes are not that high. Not even close. I guess it depends on what you mean by six figures. 100,000... no...500,000... maybe. You don't need to exaggerate to make a valid point.
„If they’re in their thirties, they may not feel comfortable having kids because they’ll realize that having a child would be too expensive.“ Exactly. Same in Germany.
Uhh yea, I'm 36 yo woman and do not want to have kids. My mom tells me I will regret it, but I make $40K/year .., can't imagine having a child on $40K/year in the US, it's simply not possible. **Edit -- I should say I want kids, but I just "can't" have them due to financial reasons. If I made more, I would adopt or foster 😊**
@@LTilli313 I'm in the same position, more or less (I'm 35). I think a lot of the older generations simply don't get many of our generation do not want children because it either isn't an option at all or because having a child would mean that the child would grow up poor. I would want the best life for my children, and I cannot provide it.
Except in Germany you have TONS of social services, including medical treatment. Here, you have nothing. I got pregnant without "maternity" insurance- I had standard health insurance,which costs me thousands a year, but no pregnancy coverage- and I paid $20k for my baby, out of pocket.
in den 90er Jahren mussten meine Eltern noch Kredite aufnehmen, um sich einen großen Wohnzimmerschrank & TV-Kommode leisten zu können. Heutzutage können sich Leute in ihren 20ern solche Dinge ohne jeweiligen Zusatzaufwand oder -belastung ihres Geldbörsels leisten. Ich bin zwar auch eine Person in den 20ern, aber ich habe nicht viel zum Beschweren, da ich mir heute (subjektiv gesehen) mehr leisten kann als meine Eltern in meinem Alter. Dass ich einen Kredit auf 30 Jahre aufnehmen muss, um eine Immobilie zu kaufen, liegt nur daran, dass ich Single bin (ein potenzieller Partner/eine Ehe könnte das Einkommen mehr als verdoppeln) - und vielleicht auch, dass ich mir mindestens 2x/Jahr einen Urlaub leisten möchte.
@@aeskewprop Yes but in Germany, the taxes (especially on companies) are also high. The USA is a land of free when it comes to corporations compared to Western Europe where they take away often times even 50% of your profits by enforcing high taxes. If the US were to introduce MUCH higher corp.taxes, yes maybe you'll have companies fleeing the country, but you'll also have more to provide. You can't pool resources out of an empty container
It’s happening here in Canada too. It’s frustrating. You get a “professional” job and still struggle. Not sure what’s going to happen if this keeps going on.
In north america, you are suposed to leave the popular big cities. In some cases the popular states-provinces. Once youre ready for the owning your own house life For example, if you lived in Toronto city. leaving the city to live in a small town 30 km north from Windsor can be a winning action. Cause houses/appartement are cheaper If you live in Los Angeles-new york. Maybe moving to a small town in Texas. Might be winning action You can also move to a less popular big city. Going from Vancouver to Calgary or Winnipeg Saskatoon will make you save money Going from San Francisco to Portland will make you save money etc
@@mathewvanostin7118 The jobs in that small Texan town won't pay the same as the jobs in L.A. though. It's easy to think, "I'd have plenty of money living in a rural town in Texas making $300k." Well sure, but no rural town in Texas is going to pay $300k. The average "high" income in cities like Jackson, MS or Birmingham, AL is around $250k, and those places are anything but rural. I live in a small rural town in Alabama, and a lawyer with his own law firm might earn around $150k a year. Most folks here are lucky to earn $30k.
Productivity is up but wages are stagnant for everyone but the higher ups. House prices are thru the roof and real estate is being gobbled up by mega corporations. I can't imagine why the middle class is disappearing.
I'm 67. I remember when it was possible, if you lived at home with parents who didn't charge you rent, and you worked a part time job (full time in summer), you could easily pay for college at a state university. I did. This is unimaginable today.
"The wealthy, have all the money and pay little to no taxes, the working class pay all taxes, and poor families are there to remind the working class what would happen if they quit that job they hate so much." -George Carlin
Don't blame the wealthy for paying little to no taxes. They pay what they are legally required too.. Just like you... Blame congress that keeps the tax laws the way they are...
Because that's how capitalism works. Exploiting the general population to make the rich richer. In imperialist societies, that exploitation is exported and it's foreign population that get oppressed, enslaved and murdered. Once the foreign populations liberate themselves and become independent (e.g. China), capitalists need someone else to exploit... if no other foreign victims can be found, they will start exploiting their own people. Capitalism always fails. Capitalism is always unsustainable. Capitalism is inherently harmful to human society.
@@jasonkauppinen3475 No he wasn't lol. Look at the wealth distribution in the US. The elites own a vast percentage of the total wealth, and pay virtually nothing in taxes. Hell if you look at corporations like Amazon, they do pay nothing in taxes.
It's insane how a family who makes $100,000 a year is stuck renting and can't buy a property of their own (in the area they live in at least). This is not normal and needs to change
HOW DO YOU EXPECT TO CHANGE THIS, THE ONLY WAY IS TO SPREAD OUT ALL THE FACTORIES TO OTHER LESS POPULATED STATES, AND MOVE PEOPLE THERE TO AFFORDABLE HOUSING,
Exactly, you can barely feed yourself, why bring an innocent child into this world just to have him suffer, you have to be financially stable to have a family these days.
In 1965, my parents bought their 3bdrm, 2bathroom home in southern California for under $20 000, on an aircraft mechanic's salary. When they passed away in 2017, that same house went on the market for over $475 000. Their working grandchildren could never afford to buy that house. The middle class is dead.
My parents purchased their house in the 1970’s for $50,000. Today their house is worth over $2 million. The housing in San Francisco is out of control.
@@angelgjr1999 Not accurate at all. The dollar is actually higher, right now, against a basket of other currencies than it has been in years. Pandemic notwithstanding, now would be an economically ideal time to take European or Japanese vacation. It's been years since the last time the dollar went this far in overseas markets.
I had a conversation with my parents and grandparents last christmas. It was shocking talking to them about the generational changes about the middle class and how much easier it was to provide for your family. The American dream is slowly dying year by year.
Keep voting RepubliQanon because multi-billion dollar corporations, millionaires and billionaires need more tax cuts, they promise the next one will really work!
It's happining all around the world. I'm from Brazil and even though Brazil never had a economy like the US, life was easyer, my grandfather was a bus driver, had 4 kids and was able to aford a big house while he was working and when he retired he bought a small farm a tiny house in the near city and 2 cars, my parents and their siblings was unable to buy a house while working, had a time when things were cheap and affordble, now a popular car is getting around 100k and it's not a popular car for american standards, it's really not worth it. I know Brazil is not comparable, but we are facing similar things, but we are going wildly faster, what took for America 50 years, we did in 15~20 years.
The broad-based Standard & U.S. consumer confidence has sunk to record lows, thanks mainly to inflation. Retail spending, home-building, and manufacturing output all declined and those who drive the U.S. economy, are starting to cut back on discretionary purchases, such as appliances and services. Regardless of our market conditions, however, we should continue to promote savings and smart investments.
There is a very critical situation for people in the United States and other countries. The world economy is going in a very bad situation. Inflation and unemployment are on the rise۔
There are several reasons why I invested under the guidance of an investment advisor, i.e. someone who establishes an asset allocation that matches my risk tolerance and capacity, my investment horizon, my current and future objectives. "LISA ELLEN SHAW" provided all of this and I don't want to go ROI on a public space.
@@MIchaelGuzman737 There is this podcast i was listening to and it said something venturing within your tolerance and risk capacity, see you mention it again got to me. How can one reach this advisor of yours?
Saving is a terrible idea aside from keeping an emergency fund or a planned purchase that fits into your overall financial picture. Any money beyond that needs to be invested in assets beating inflation or you're moving backwards despite the self sacrifice
@@pinkforeverlove1 I remember talking to somebody from the 1960's. He said that minimum wage was about $1.60/hr and 1 gallon of gasoline was $0.25. This means that you can buy around 5-6 times the amount of gasoline with minimum wage during that time. Fast forward to present time for example, gas is about $5.50 - $6.00 per gallon and minimum wage is $14 in California. This means that we can only now buy a little over 2 times the amount of gas, compared to 50 years ago with 6 times the amount, to summarize, our purchasing power in 2022 is 3 times lower than it was in the 60's and minimum wage, if kept up would be at around $33 dollars per hour. Also keep in mind that men use to raise their families on minimum wage half a century ago just fine with no wife working. Nowadays it's borderline homelessness.
There’s a saying, “I would rather be rich, or poor, but never middle-class. The rich can afford health care and anything they want without worry. The poor qualifies for free health care and government assistance. Whereas, the middle-class have to budget for health care and other expenses; yet, not poor enough to qualify for government assistance.” Why are we middle-class citizens not doing anything about it? I’m surprised we aren’t out with torches and pitchforks to elect politicians not in deep pockets with the ultra rich. Unfortunately, the rich are smart; making us all too divided (R vs D) to work together against the real threat against the shrinking middle-class.
The rhetoric is strong. People are convinced that a candidate's proposal to "raise taxes" means "raise them for the average citizen". What they don't understand is that no one wants to do that, they just want rich people to pay *their fair share*. If you break it down for people so they realize that upper income earners pay a *smaller* percentage of income tax than a middle income earner, to give just one example, who wouldn't be upset?
The reason why the "middle class" is screwed is that the owner-class of this country wants to eliminate competition, so they make sure to squeeze middle-income earners with more taxes and take all the share for themselves (bailouts, corporate subsidies, etc.) At some point, the ruling class realized it was more profitable to do so (because there was so much wealth the lower classes accumulated after WWII), and here we are.
I've been living paycheck to paycheck all my adult life. My parents will never understand why. And it can be very frustrating to not have them understand. My partner's parents are rich, in my eyes, and it's like an entirely new world. They don't blink: paying for a new backyard fence one week, then a new sunroom the next. My family of 8 would have to budget for years for each home project.
Yeah I live paycheck to paycheck too still living with my parents. Depressed most the time just cuz I think I'll never be able to move out on my own think I'm eventually gonna be homeless. Didn't work for like 6 years cuz im bipolar and didn't think I could do anything for awhile. But been working for over 3 years now part time as maintenance pushing carts.
I am a Physician I had a Uncle who was a Surgeon. He said Dr's dont make as much money today as they used to. I look at the Dr. parking lot in the Hospital parking lot and its filled with Subaru's and SUV's. Back in the old days I remember seeing Jaguars Porsche and Mercedes.
@@redman0728 l have Bipolar Disorder too. I work part-time but l have a roommate and other streams of income. Check Social Security for disability benefits. I receive it. I hope you keep going and hope you get better soon.
Molly, were your parents financially comfortable growing up? Because I always hear about these boomers or Gen xers or whatever who can't empathize with young people because they have achieved the American Dream. I seldom hear about people of that generation like my parents who have always lived paycheck to paycheck and often ask me for money. As a result, though, they empathize because they're reeling from the effects of it as well.
Five to six decades ago, my dad, with an 8th grade education, bought a house, two cars and three harleys, while in his 20's. My mother was a stay at home mom. Different world today. Need a massive amount of income to afford a similar quality of life as what it was in the 60's and 70's.
@Abdirahman Warsame and home ownership rate is higher now than it was 6 decades ago I feel like it's pretty obvious what quality of life is. Rich people didn't even have a computer 6 decades ago - now poor people have one in their pockets. 6 decades ago black people didn't even have equal rights. Healthcare is better, education is better, were richer, etc
I hate the term squeezed, That's not what's happening. People are being systematically impoverished by ever increasing prices, corporate capitalism, and a government that is "By the rich, for the rich" . If we're being squeezed it's in the way that a lemon gets squeezed; juice extracted until all that's left is an empty shell to be thrown away.
Very well put. They are CREATING a populace that's Entirely Impoverished on purpose. This didn't just fall into place, it was very maticulously and heartlessly *Planned* .
If you cant beat them, become them. That's what I did. I used to blame others for the woes of capitalism, then I simply started my own business and got rich.
@@user-wz4db1zn3r Same, used to be homeless and on the streets, but then I just bought a house. It's really not that hard people are just lazy and blaming others for their shortcomings.
Being middle class is not about affording things, it's about having a stable financial life. Like too rich to be poor and also too poor to be rich.... and look like those times are being wiped out again. Will it ever return...? The answer is I don't truly know... it's not just up to politics... it's also up to the resource values and to us to make things economically stable again...
@@finitecurveGunning I'm speaking of economics. Why make almost everything political? Not everything has to be political. And why want things to be rich or poor? That's what the communists do.
When everything rises in price, but the income doesn't, it makes living alone challenging. Even more when you plan to have a family which multiplies the cost of living no lower than 10x the amount.
@@perapelman7687 my plan right now is to buy a used van, convert it to electric with solar panels on the roof to have it act as my "Home" for even saving up for a home is so costly. Learning to play in stocks to be a stable income and save enough to last me til my retirement Traveling my country with my van. Plan for having a family is way off my list unless I get lucky enough winning a lottery so I can buy a fast food chain franchise. Other than that, I'll continue living alone doing whatever I want and saving up at the side.
@@parkerrosemary-it4krYou're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton@@kevinfaith-oy5gh
I see a good amount of people saying they are taxed to death and how that's a main problem, but what if the problem was WHERE our taxes went? Many other countries have higher tax rates yet enjoy much better lives than many of us here in the land of dreams. I do recognize that we are essentially allowing other nations to live better lives by keeping them safe* with our ridiculous military spending, but isn't there even a small portion we can take from our military spending to invest in social policies, universal health care, etc. ?
your heart is in the right place but your military does not exist to protect other countries. It exists to subjugate them and destroy those that step out of line by threatening the hegemony of the American dollar/oil status quo.
@LightSound Geometry focus on the evils of imperialism, rather than the fact that they get well paid and retire with life left to live (if they live through their murderous invasions 😬). No good reason why all Americans couldn't be well paid and afford to retire young. that is the sort of thing Americans should demand from their system. But instead America is the murderous regime that simultaneously treats it's own population like disposable wage slaves. But I think you have a good point, their decent salaries foster a viscious loyalty from a base of the population that otherwise would not be afforded a higher quality lifestyle. It is a welfare program, exploited by the elites, in a society brainwashed against the common good.
@LightSound Geometry imagine if the funding was diverted to actually benefit and educate and provide for the citizens of the US. Dr Michael Parenti and Chris Hedges are the best commentators on the reality of American imperialism.
@LightSound Geometry they will take the western world down with them. but I have faith the end of the neoliberal nightmare is in sight within our lifetime.
Chantal said it perfectly - even if you have a great job making good money, its not enough. I haven't been able to save in years just because of keeping up with monthly expenses. Our parents don't fully understand our dilemma, but we now have expenses that didn't exist 40 years ago: cell phone cost + bills, internet bill, computers and electronic devices. 33 years ago, my mom bought a house as a single mother with two kids on a $21,000 salary. I make 3x that without debt and I'm struggling to get a mortgage.
@Pork n jeans ever considered that there are people working remotely / online? especially since covid, we've all become more dependent on electronic devices. same for students too since they've been attending online classes.
@@swiftiepharbz in that case being able to work remotely and the savings that come from it should more than cover the expenses of the computing equipment required for remote work.
@Pork n jeans O boy.. we just met a person awoken from a cryo-sleep!! Even your boss will kick you out once he finds out you can't be reached via any messenger or SMS. /facepalm
@Pork n jeans people literally depend on those devices as they are required for their jobs, which is what they need for their income. if you can live without electronic devices and your job doesn't require it, cool. but plenty depend on it now. not just for entertainment, but as well as searching and applying for work, communicating with their colleagues, etc.
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Certainly, I've been consulting with a Certified Financial Planner (CFP) since the outbreak. Beginning with an initial fund of $80k, my advisor makes decisions on when to enter and exit positions in my portfolio, which has now expanded to around $350k.
Wages have been stagnant for decades (when adjusted for inflation) while the prices of homes, cars, food, gas, college etc. have skyrocketed. Corporations and many employers are extreme capitalists who use their earnings for stock buybacks and CEO bonuses instead of paying a fair wage. The US government has even incentivized these actions with huge tax cuts and subsidies. Until we get the lobbyists and money out of politics nothing will change
Well everyone is fighting about what Joe Rogan said 20 years ago and what gender they are today…. Sooooo I don’t see us getting together and demanding meaningful change anytime soon. We’re on a sinking ship. Full of asshats on their phones not even paying attention to the ship sinking. Fun stuff 👍
The corollary to that is: if you can't beat 'em, join 'em. I watched and gnashed my teeth in 2008 when TARP was passed for the Too Big to Fail banks, shortly after they collapsed the economy with their recklessness. Where was the justice?! Today, I'm a shareholder of JPM, GS, and C, among others. God is dead; the only justice is that which we make for ourselves.
I think the big problem here is that the prices of everything keep rising but income doesn’t, and there’s hardly anything ordinary people can do to stop it so how should it not be scary?
It's all of the governments plan,i worked for the COVID 19 vaccine and they have plans to lower the amounts of consumers since farms are having problems producing products for the masses of people
9:00 this is HUGE. That’s how I feel. Being middle class is great but then you get Zero benefits because the government says “you are ok, you don’t need any help” but it’s no longer the case.
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
@@Aimee966 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch….
I had a social worker tell me once, "Poverty tends to move from one generation to another. It's bad enough to be poor and stay poor. But it's worse to become poor. This is the trend which radically changes society (2008?)".
I agree but think young people don’t have realistic expectations. And some have been spoiled and don’t realize that life takes effort so when they become independent young adults claim poverty but they are earning $60k. Stop drinking Starbucks, don’t get a new phone, live with someone to share bills, and drive an older car.
@@charliejennifer3874 Also don't get a degree or you'll be in debt the rest of your life but also get a degree or you can't get a job to pay your bills but you can still get a trade job which will be worth it until you get injured and are back to debt slavery. And that flat you're sharing with others is either going to be far from work causing your travel and maintenance expenses to rise or it's close but stupid expensive so if one room mate leaves and no one else quickly moves in you'll find yourself homeless. People have already stopped buying luxuries, it's why every month we hear about another industry millenials are killing yet the costs of living continue to rise so what should people do when they're already living tight and their rent went up again? Even if your avocado toast nonsense worked the death of consumerist industries puts more people into unemployment meaning more competition for remaining jobs, higher taxes to pay for them and less incentive for employers to raise wages. Factor in the aging population and automation replacing jobs and your victim blaming becomes more of a joke.
Well dont live above your means if you dont want to be poor... If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time. You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..
Blame the federal reserve system.. Banks lend out money they don't have and then charge interest on it. It is nothing less than legalized fraud and modern serfdom. This goes back to 1913 not 2008
The housing market is through the roof and very competitive in bidding for a home. Us late millennials are having hard time looking for a home and are forced into a rental apartment thats owned by a commercialized property owner that I'll be paying similar to a 30 year mortgage rate. Also getting crucified by the outrageous taxes on the middle-class.
And as potential home buyers are pushed out of the market, tattooed to become renters, the rent goes up and renters who lived in the apartments before these newcomers have to move and there is nowhere to go. In the meantime some homeless shelters charge for a cot on a cement floor.
the middle class isn't disappearing,its been gone for a solid 10 years. Now we are split in two,those who can make rent and utilities on a full time job,and those who can't.
@@msi8311 I think there is a sizeable population of middle class people in India. A lot of people were pushed into poverty during the pandemic but that is expected to revert when the economy spins into action yet again.
There's no middle class, there were a middle class never, it just a way to divide the working class, who are the people that sell their time to the owner class and it doesn't matter if you earn 10k/year or 200+k/year, the only classes that exist are working class and owner class
I am 50. I worked full time and paid my way through college by going part time. Credits were $100. The first house I bought was from an old lady for 28K in the mid 90's. It all changed in 2008. Home prices began to rise then the housing market collapse. Home prices never went back down. Over time a decent automobile went from 20K to 50K. Food prices are now insane and wages have barely risen.
Exactly, they said the recession was over, but it was never over for average people. What they're calling "middle class" in this video sure sound like they're poor!
I think one reason the middle class is disappearing is a combination of inflation and stagnant wages. Not the only one but the fact the minimum wage hasn’t kept up with inflation is definitely something to worry about.
Its not that the minimum wage has not kept up. You can not live on a minimum wage. The efficiency of computers has put the number of people you need to manage and produce product down. The workforce needed is less but people still have to find higher jobs that pay more money. Those jobs are being done overseas for less money. Any televisions being manufactured in the USA or how about steel??? Productivity up and salaries down.
And who's the ones to blame for prices going up? Answer: politicians. Left, right, middle. It is all of them. We pick sides when no one is really on our side. We fight over who's right when we are all fools.
YES! The left hand and the right hand are just different sides of ONE body. None of them give two shakes about the people. Every single one of them leave office richer. The longer they are in office the more filthy rich they are. NONE of them will come save you when the problems THEY cause leave you destitute. Wake up people. It is a big club and we aren't in it!
I'm 27. I live in Maine, a place where ambition goes to die. I come from a very ordinary, blue-collar family of sticks in the mud. I've never been to college, never had my own place, and haven't had a relationship since high school. Instead, I've been quietly saving and saving to finance my life of being a digital nomad and after several years of hard work I'm finally seeing that dream close to being realized (assuming nothing crazy happens). My advice is follow your heart, avoid the rat race, and don't be afraid to leave America/Canada/Europe/Australia in search of a better, cheaper life elsewhere. Because things are only going to get worse.
I've been teaching for 15 years and have my Master's. I bought my house for $55,000 (foreclosure). I count every penny in and out. I'm single. (stay with me, getting to point) I don't have Netflix, Hulu, Amazon Prime, or any other subscription service. I don't get my hair or nails done. I don't go shopping. I sold my car and bought a piece of junk in cash with super cheap insurance because it's a 1999. I canceled my life insurance. I can't keep up!!!!!! If I want to do anything extra, I have to have a roommate and/or a side hustle. I thought about adopting a kid. JUST by adding a kid to my insurance I would be going into the red each month (forget about getting the poor thing food or clothing). I'm very good with my money, but the cost of living keeps LEAPING while my paycheck, at best, is creeping up. The money I have left at the end of each month is always taken away by something (MRI, plumbing issue, etc.).
In your foot I would consider relocation to another country. You are native speaker of english so you could teach it. Just think about it. You could try to go to another country for couple of months and then decide if it's worth it
Great you have your own home. Husband material here for free, hardworking, good with finances and we can succeed together, very handy. What do you think
Let me explain some basic economics to you. If the middle class in 1980 was defined by being able to afford a home and a car or two, and the same "middle class income" today can afford a single car and barely make ends meet on their rent/mortgage; then the latter is not in the middle class.
If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time. You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..
As a middle class parent myself, biggest pain points are rising costs of housing, child care, and insurance. They are bare minimum needs to live a comfortable life. There should be something done to make those three things affordable without overly distorting the market with regulations and subsidies.
Housing prices are out of control. I couldn’t have moved out of my parents house in this market and I actually had a very decent job right out of high school. The housing prices are literally out of control, something needs to happen
@@ireminmon Ever heard if the Hill-Burton Health Care Act and it's history? If you are an American, then surely you knew what I am saying. As a 94-95 year old I knew all of these things even before you were even born, that is, if you are a young person. But I still insist that your primary school teachers should had taught of such things. Especially the ORIGINAL Social Security System before it was sabotaged in the late 1960s. The list is endless. If you have great-grandparents ask them.
I think another thing contributing that could easily be stopped is corporations buying single family homes and renting them back to people, this pushing up housing prices. This should be made illegal as it just exacerbates wealth inequality and makes life more expensive for everyone for the benefit of the super rich.
As a 60 year old, this all started with Reagan’s trickle down economics, lowering the tax rate for the rich and raising mine and at the same time getting rid of or lowering tax deductions . Then every administration since Reagan continued it in some form or another
Trickle Down is a Myth made up by the left. Has nothing to do with that. This entire video ignore this. NAFTA caused much of it. Globalization. When jobs go overseas, the $ goes out and doesn’t come back in. Trade imbalance is applying downward pressure. Ridiculous education costs, transportation costs in the form of easy auto credit, and housing increases erode the middle classes ability to survive as more downward pressure is also rooted there. We didn’t have Mobile Phone Bills, Expensive auto loans 5-6-7 years, and didn’t have $ flushed into CATV/Internet and phone contracts, other subscriptions, software subs, streaming subs. None of that existed. This isn’t a tax policy issue, it’s a federal/state spending one, and much of it has to do with trade imbalance. Theres no means of production any longer. A nation must produce something of value, or you don’t have a nation. The less we produce the less value we bring to the table. The societies producing those goods keep their $ inside their world, it never comes back here. Growth of our Means of Production in any type of assett job will provide upwards pressure on income for middle class, all these issue becomes non issues. Right now the top benefits from the profit saved from sending it to cheap labor market, and all the supply chains needed to get those goods here. Why this whole concept eludes leftists is beyond comprehension.
@@pn102 There actually exists decades of data to back up the fact that wealth inequality has increased dramatically over time. So anyone who disagrees with you must not be able to think for themselves even if they’re relying on hard data - maybe you don’t understand what evidence is or how it works?
@@NN-sp9tu - facts are pesky things. What good data analysts accept is that all data is flawed and only tells a portion of the picture. What the sociologists know is that what comes after “because” doesn’t matter.The opinion assigners know this also, and use it to attach buzz words to the topic. A tell is when the word “equality” is attached. Theres a good article a few weeks back in the WSJ that discusses how 90% of everything is crap. Change your frame. It’s 2022. Our understanding of reality is subjective to oneself’s world view. That doesn’t make it so.
@@user-hf2dr7sh4y yep. The Fed, centeal banks and global elites at the IMF are the one world government. Debt slavery for the global population is the plan and everything is going smoothly. It's a debt-based slave system. The only solution is sound money and small government. Unfortunately, only a revolution can set us in the right direction
1. Increased population. More competition for resources and jobs. 2. Devaluation of the dollar. 3. Automation 4. College degrees becoming diluted. 5. Increasing COL in cities (goes back to one). 6. Rising costs in manufacturing meant jobs were exported to cheaper wage countries. 7. Pivoting into a more service focused economy instead of manufacturing. 8. Foreign investors squeezing the housing market. The list can keep going and going. But I think these are the major points.
It's not just foreign real estate investors. Home grown ones are just as bad. My friend works at one. They all call around and raise prices to meet the average every year (not price fixing apparently) , even with high vacancy (40%).
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe
@@Natalieneptune469 I agree with you. I ventured into stock with less than $100,000, and now I'm about 17,000 short of half a million dollars. Credits to Nicole Ann Sabin . She's verifiable.
@@PhilipMurray251 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS
Wouldn't the best option be to move to another country? I get why the rich would stay in America and I get that the poor can't afford to leave, but the middle class seems to still have the opportunity of a better life abroad...
@@moonie8830 that would probably be best for the retired folk or the folk that had a few years / decades of working and can live off the fruits of their labor. Or even just the remote youtubers and such that can work anywhere, so why not a country with a lower cost of living. I dont think thats best advice for someone at the beginning of their career with not a big pool of savings.
Chantel's situation is of her own making. I mean a 400.00 car payment and 280.00 for phone usage? Thats a lot of money. I think people need to live within their means and accept that they can't live these idealized lives with the newest things and expect to come out on top with everything else paid for. Its all priorities. That car payment as well as her and hubbies cell phones could be easily cut in half. I'm not sure if she did any sort of volunteer work but that helps too. I myself am a Veteran and take advantage of all of the options available. I had my bachelors paid off and paid a small amount for my MBA. Yes. The military isn't the idealized life we all dream of sometime but serving your country certainly helped improve my financial situation as well as built character along the way.
@@ishmaeldarjean2757 I have to agree. Mesquite is not a high cost of living area and 100k is a very good income for 2 adults and one child. This is an issue of not having financial literacy and not the best example of the video’s point. She needs to sit down with a financial advisor.
I’m no economist but when housing, good, gas, food, and everything else increase 10-20% and my income only goes up 5% and most jobs require a 4-year degree, which I have and I’m not living lavishly, and I can barely save and invest.
Well-off people don't get rich from a good salary, they leverage their debt. Instead of paying your car loan or mortgage off early take that money and invest it in something with a higher return then the interest. Do the same with low interest loans.
@@TheRevolucas So essentially, you're telling people to bet money that isn't really theirs? I'm a big fan of investing. If you have extra cash, then invest it! The worst that can happen is you lose the money. Which is fine because, well, it wasn't going to anything else anyway. The best is that you make a nice profit. Investing comes with risks. If that person invests poorly, then their debt will only rack up and put them in a worse position than before. Diversifying helps minimize the risk, but it does not eliminate it. For someone already struggling with money and in debt, taking a loan and investing is NOT the way to go. For the wealthy, I can see that they might have the money already to fall back on should their investments fall through. Also, people renting and in debt are not able to put a mortgage on their home or obtain a low-interest loan. Your advice just doesn't work here.
As a non-American, I’m critical of the poor design of American cities. Cars are a necessity and thereby big expense! I’m so glad that majority of Asia has built good public transport so that you don’t have to own and maintain an expensive car. This was a planning blunder by the US
The U.S. has a large population but much of it is spread out. The reason public transport works better in Asia or Europe is because the population density is higher, which makes public transport make sense. This is harder to do when the population is spread out.
It was planned. Car manufacturers lobbied. And a lot of (white) people who wanted to leave the city and live in the suburbs when redlining was officially stopped. Redlining (keep black people in certain neighborhoods) continues unofficially to this day and the cars and highways were a big part of that. It's a complex issue, but here's a place to start if you're interested. ruclips.net/video/odF4GSX1y3c/видео.html&ab_channel=Vox
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
Biden is not entirely responsible for whatever is going. The economy is cyclical, and things will definitely get better. The first rule of investing is to keep investing, whatever the economy is doing. That is how you make substantial gains.
That's some incredible gains. How do you find a financial advisor? I've been trying to connect with one for some time now, an I don't want to work with hedge funds.
There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
I know this video isn't about urban planning, but I think it illustrates how the zoning policies over the past 70ish years are negatively impacting the middle and lower class. The ridiculous suburban sprawl and car dependent urban planning are contributing to the unaffordability of problem. It's ridiculous that a family, which is already stretched financially, has to bear the burden of two vehicles just so they can have basic mobility and earn an income. This woman can't afford to live in the desirable central neighborhood she grew up in because supply of housing in those areas has been artificially blocked from increasing by local government and FHA policies. Instead the vast majority of housing has been built in the suburbs where it's nearly impossible to provide reasonable transit options. This family is paying $1200/month just to be able to get to work and buy groceries .... a metro pass in most european cities is less than $100/month.
Correct. My partner and I couldn't afford to buy a house in the city that we both work in, so we bought a home in a suburb 20 miles away. Since we both commute in at different times, we had to buy a second car which we paid for in cash for $28K. With gas prices now at $4.50 a gallon, we are spending about $80/week on gas alone. I also have to pay $75/month for parking at my workplace. Throw in insurance and maintenance costs, and it's just absolutely insane. Technically we could take public transit, but that would double or even triple our commute times. We usually drive into the city on the weekends as well because we don't have kids and there's nothing to do out here in the burbs.
Peter Calthorpe has an excellent TED Talk on urban planning and how redesigning a city to allow for better public transportation and more walkable areas would not only reduce CO2 emissions but also save a family upwards of $10,000 per year because they would not need a car. I highly recommend checking him out.
Do they have vacancies? The average house price is also up 20%... Or better said sometimes the costs are up 20%... WHy? Because America prints and prints and prints and prints... People live above their means..
@@Jbkoyi Its hillarious if people consider high housing prices with food shortages or something. Its a joke if people compare it with third world countries. Feel for you sir.
Middle class in a nutshell. My parents at 30: bought a 2 family at 230k Me at 30 : makes more than both my parents. I have two roommates Literally making just enough to sustain, but never enough to get ahead is the best way to describe it
I work the same job my mother did. She made $40k with basically and associates degree in the 90s-10s. I make at most $37k with a bachelor's degree. And everything is more expensive.
they used their savings for a combined 50k down payment back then and bought the house. It's well into the million region now since they live in Massachusetts. I still reside in the state and six-figures doesn't go as far as it used to. You feel safe and stuck at the same time.
@@dedhampster4730 yep my mom went to community college in the late 90s after buying our home and got a job in accounting for a smidge less than 37k, back then 37k would probably equate to middle class, now that's poverty wages. I make almost 100k with a bachelors living near the city and rent and COL is rising faster than my wages.
I’m so happy I didn’t sell my home and upgraded years ago. My $700/ month mortgage is less than most of my friends’ rent. I’m going to remodel and stay put out here on the prairie in my little house. Had I still been raising kids, I don’t think we’d make. This solidified me living far beneath my means and a minimalist lifestyle. So thankful I do not have to commute 500 miles a week. The gas cost would crush my budget. My heart goes out to those who aren’t as fortunate. I gave away so much of my couponing stockpile during COVID. We have to go back to community outreach and help our neighbors. You are seeing ppl being forced to move out with only a moment’s notice. I have never seen so much population growth where I live. The city can’t keep up with the infrastructure needs. We had more four way stop signs than traffic lights. Now, roads are being widen due to traffic from ppl moving out here. Greed is fueling this foolishness.
One thing to remember is on the outside a middle class family might look to be doing well, but behind the scenes they may be pay check to pay check buried in debt
Then get on a budget. The only excuse for that is an emergency. You are not entitled to new cars, a bigger house, new furniture etc...because you want it but can't afford it..
@@staceystrukel1917 exactly, only for emergency reason. But the last two decades I've noticed most people are on debts and buying stuff , when they really can't afford
@@staceystrukel1917 absolutely. Most people are brainwashed by marketing and consumerism. My motto is, live below your means, and that is what I instilled into my children. It brings immense peace, joy and contentment knowing that I don’t have crippling debts, for mainly useless consumer goods. This principle has allowed me to take early retirement and have time to myself whilst I’m still relatively young and healthy.
It is a mystery to me how so many working class people have been duped into believing that unions are bad for them. What has this gotten the working class? 40 years of stagnant wages and declining benefits while corporate profits, executive compensation and the stock market have soared.
Unions are bad for workers, why else would they refuse to join them? More often than not, they don't represent their interest and mess up their income by interfering with their voluntary work schedule. Who would like them?
@Yummy Spaghetti Noodles you know why you don’t make much to begin with ? Because you’re non unionized. You let executives/upper mgmts/owners get away with living like a king while paying their workers the bare minimum within no PTO. That way of thinking is exactly what they want you to think like and have been brain washing people for years. Why do you think big companies use millions for union busting?
I would say the number one reason that the middle class is disappearing is the cost of housing. In 1953, my parents bought our house for $19,000. The mortgage payment took less that 25% of my dad's check. Now, with so much investing and speculation in real estate, its common for people to spend over 50% of their pay to cover a mortgage or rent.
Cost of housing is increasing so much because the demand is too high in relation to how fast they can build them; illegal immigrants is the major problem here...not sure if you’re aware but an estimated 184,238 illegal immigrants came through the southern border just in December alone
@@User18dog It's not even just illegal immigrants. Wealthy Chinese people are buying houses in California, which allows people to move from California and buy more expensive houses elsewhere
@@User18dog Also, developers have intentionally shrunk the amount of new housing built each year since the Great Recession. They want their values to stay high so they are artificially limiting the housing stock to raise demand and keep prices up.
My grandparents paid a little over $8000 to have their home built in the 1950s. It was affordable for them but now home ownership is unattainable for most. Luckily I bought my house when I was 25 so I don’t have to worry about purchasing at todays prices. Houses in my area are going up for $500,000-$800,000. I’m wondering who’s buying these homes when just 5 years ago the same homes were 250 -400 thousand.
I would love a part 2 to this with what we need to be doing to change this problem? I’ve heard the same concern about the rich getting richer and the CEO and shareholders (etc.) hoarding the bulk of the profits and not passing them along to workers since I entered the work force 25 years ago. It’s just getting worse and worse. As a single person who has worked in the non-profit sector my entire career and still has a loan from my MA to pay off, there’s not much I can put toward retirement. It’s getting pretty scary to think about.
You're not going to get the part 2 because it means recognizing that there is no political solution to it. The solution involves removing money from politics, which probably means civil war and a good chunk of your ruling class going to prison.
A big issue in Nashville are corporations out bidding families on homes so they can rent them. Entire neighborhoods with people renting homes at outrageous prices.
Its a travesty. They absolutely should not be allowed to compete in the housing market. You see the same thing happening with Airbnb. a few corporations are getting into the market and own all the airbnbs making pricing go up and increasing scarcity.
GFC, so they made it so you had to basically prove you had enough money to just straight up buy a house out of pocket if you wanted to borrow, rather than doing a damn thing to prevent another GFC. And now we know that bankers will just invent new things like bitcoin and NFTs to lose money on.
Fear is the mark of intelligence. If you don't agree, observe the fools with tens of thousands of dollars in accruing debt for a degree that is not: medicine, law, or engineering. You're doing fine. You want more? Get a second job, or start a small business and grow. Most large companies and wealthy individuals existing today began during the last Great Depression, in their kitchen and or garage, think about that.
Do everything you can to get some money saved up to invest. That has been the only thing that has saved my overall worth through all my terrible jobs and underemployment and unemployment over the last 6 years and not having a job through the pandemic.
No. That’s what they want you to believe. It’s the people that control the government, who is sucking it dry. Who is that? The oligarchs. The super super ridiculously wealthy. That’s who.
There is no "the government" that exists apart from wealthy and corporate donors that throw money at it so that it does what they want. So the problem isn't the government. It's the people who have captured it and turned it into an arm of private financial interest.
I’m an Italian and I lived in several cities here in Italy and I was astonished by the number of Americans I have met in my country! Italy is well known for being ABSOLUTELY NOT IN A good economic/financial/ jobs situation. So it amazed me to see so many Americans moving here (forever!) cause I always thought “why would you leave an amazing country like the USA?”. I always asked this question and the answer was pretty much the same: they said the situation is out of control and that in Italy life might not be easier but at least it is way enjoyable and that the American dream is utopia. I have always dreamt about moving to the USA for better opportunities but when I said that basically all the American friends here in Italy told me to look somewhere else… 😔😔 it’s sad
I would still say it is good here in the US. People come here and are still making it. They find a way. We have very low unemployment rate. If you have a talent you will do fine. And inflation is high everywhere at the moment. I wish you the best.
@@longhai6458 This goes beyond recent inflation hikes. Everybody in the middle classes are being ripped off. Across the world. Only Corporations are making serious money. This is structural and has been happening since the 1980s. Unions dismantled and workers rights eroded. Hell at least we have healthcare in Europe still. In america it can't be right you could be bankrupt if you get ill.
I feel like the middle-class is not gone, it's just forgotten. My fam is considered middle-class but I grew up not even having healthcare. Our family made just a bit too much to qualify for Obamacare benefits, but not enough to afford other decent healthcare so we would have no choice but to pay for the Obamacare penalty fee (we live in California). Everybody creates services for low-income and think that the middle class is just comfortable when the truth is we too are also living paycheck to paycheck. The definition of "middle-class" has changed over the years, especially if you live in expensive areas like the Bay Area.
@@ilsa_xo I totally agree with both of you. I don't even know who to vote for anymore, since they try to either cater to the extremely rich or extremely poor. It's easier to build a platform on extreme views, especially when they can just sell the middle class on other points which are more ... ideological
My man, thats called identity politics. Cause if everyone realizes they are only “middle-class” by name but not in real life. The current system will stop existing over night
@Pork n jeans that's true to some extent (for a particular group of politicians that call themselves republican but are actually for classical liberalism) where I live but it is hard for them to get elected. Also my CNN only tells me if something is a cat or a non-cat en.wikipedia.org/wiki/Convolutional_neural_network I think your cnn is projecting over here, here you can have it back. I don't want the features learned from yours. It seems to be underfitting like crazy
CNBC Asks: What happened to the middle class? Me: I can tell you without watching the video. Wages haven't risen with inflation or the cost of living, essential items like food & utilities have skyrocketed in cost, & we don't even have a basic healthcare policy in the USA where if you're sick you'll be OK & not have to deal with "OUT OF NETWORK" Costs for your health. The cost of living is too expensive in the USA & it's nearly impossible to get help because of costs & lack of finances. We're so screwed...
Mexico doesn't have a big middle class despite having public healthcare. The sexual revolution, NAFTA and the outsourcing of many factories to China, Mexico, Brazil,India and Vietnam are the main reason behind wage's stagnation. Having some protectionist laws help to keep factories and jobs inside your country.
Yeah, can't figure out why that would be. I wonder if it's the constant flood of immigration or the fact that there are more women in the workforce than ever before. It's almost like more people chasing the same jobs creates more competition for said job and therefore an over-supply of labor and what happens when there is an over-supply? You guessed it: The value of that things falls. The cost of living IS NOT expensive in the US. It's expensive when you want to live in the god damn heart of a major city.
I am not afraid to die, because I know I will go on to a place where money and greed doesn't exist, and everyone can be equal. Money is all that matters here, and wealth is the one thing you can't take with you when you die. I've never been impressed by materialistic people. Only disgusted. The only thing that will matter on the other side is what you have in your heart, how you treated others, and the deeds you did. Love is the true wealth. And evil people will get what they deserve in the end.
She is right. I grew up in Huntington Beach CA and none of the kids that went to my high school stayed there. So all the natives left and those not from the area moved in. Fortunately my parents still live in the same house but I can’t believe it’s now worth over $500k more than what they bought it for.
@@Tv71440 Best believe the OC/LA IS worth it, when areas like Scottsdale, AZ (bad weather 1/2 the year, no beach) now have 1990 starter homes that were under $200k then go for $1.1M, barely any cheaper than being in California.
The costs and inflation is what has eroded away middle-class and the purchasing power that you once had compared to today.. It' is estimated that lets say back in the 80's you might have had 30-40% of your household income go toward mortgage for a house as an example. Today it could be up to 60% of peoples income. So you might earn a middle class income. But the value of it is basically gone. Think about it. In the 50's and 60's a man ALONE could be the sole breadwinner of the family have a house work in some office job or even in car manufacturing or sales etc and pay for all the bills and the wife stayed at home with the 2.0 kids. Today with BOTH the woman and the man in the house working and both earning "middle class" wages, they can barely afford to buy a house. The cost of a house that was 150,000 dollars some 15 years ago is now 550,000 dollars just 15 years later.. That is an insane increase in cost. Imagine the mortgage cost difference if you bought it back then or today.
There are still many one income households today. Also, the standard of living was much lower back then. If you agree to live to a lower standard of living (like back then) you can live with one income.
In 1992, a 2 bedroom apartment where my parents use to live cost $92,000 and can be easily bought by someone on median income. Today, 2 bedroom apartments like those can cost between $500,000 to $950,000 and most folks on median incomes have to save for years, or pool deposits together, or ask their parents for help just to buy a home.
Inflation? 30 years ago a descent TV easily cost 400 dollars. Today, likely it's 300 dollar. Same with most of the household items. The high cost of housing that created the havoc is due to shameless uncontrolled greed and speculation by the MBAs.
Middle class here.... sold the "middle class lifestyle house" and bought a tiny condo (not in a big city), no credit card debt, 4 cars but one tiny car payment between me, my spouse, and 2 college age sons. We definitely feel the squeeze between cell phone bills, internet, groceries, helping them pay for college as best we can, and INSURANCE. ANYONE else feel insurance poor? And did I mention TAXED TO DEATH! We don't do big vacations (maybe a long weekend in driving distance), we aren't "shoppers." We don't go out for expensive dinners. We try to live below our means. You wouldn't consider us rich by any means. I am thankful we are blessed the way we are but, the "middle class" debt is out of control. I honestly don't know people can afford housing. It is so expensive here! Everything is so much more expensive! I'd say the vast majority of middle class is barely hanging on.
@@carloconopio6513 America is different from Asian countries. Cities are set up so people depend on having a car. Buildings are spread out and many cities don't have reliable public transportation. Jobs even ask candidates if they have reliable transportation, and may passed over candidates who don't have one. So OP has a 4 person family with 2 college aged kids. Although in places like Asian countries, it seems excessive, for her and her family, it may be necessary to get things done because she and her spouse need to go to work and her sons need to go to their classes. Most college students also work at least part-time, so if they have a job, they also need transport for that. Ideally, cars would be optional, because they are such an expensive burden, but the American lifestyle requires them.
@@carloconopio6513 In my country (in Asia), most middle class families have at least one car. I'm a medical doctor but I don't have a car (though I can afford one), I just ride public transportation to go to hospitals and clinics. Been used to it since childhood anyway.
You cannot put any "loyalty" into a company. The only way to get a decent raise is to move to another company and negotiate the amount you want. It's not personal - it's business. You cannot be afraid to leave a company to get what you want, what you need to live "your" happy life. The days of working a career at one company are gone.
Everyone who works for a living is working class. The ones that done are the ruling class. They divide the working class into other classes to divide and rule them. Stand together with you fellow working class people.
That's why We, the ruling class, need to seed more dividers like lgbt, political, racial ideologies, etc. into the society. There will be armies of pro- and anti- among the working class, they'll forget about their real enemy and growing wealth gap. Even if those ideologies won't work, who cares? Divide and conquer, that's our motto!
@@allykid4720 that’s what I’ve been preaching as well. Stop yellow dog voting!!! Voting for a representative because of your race is got to be the stupidest logic. Politicians don’t care about us, they just like power.
Yep, exactly right, in fact the term “Middle class” was popularised in the 1950’s to describe the rising standard of living for the current generation of working class who didn’t like the stigma of that term. If you trade your labour for a wage you are working class. Doesn’t matter if you make 25k a year or 125k.
The biggest thing to take away is the rich going up 19% and middle class going down 19% in wealth. The rich and shareholders have been taking more profits since the 50’s and not giving wage increases to the ones making them all that money. Not to mention the rising housing and college costs when income barely goes up at all. That is 99% of the reason.
If you are a blue collar worker working for Amazon in the warehouse they work you like a slave but an engineer could earn 360,000 for Amazon.Then you have mommy and daddy paying for their kids college so they do not have to work now that caught up to them.Jobs are going to the wayside this is why Musk is involved with the ibot.
Exactly. Trickle down economics doesn't work. If I was a rich person with a business why would I give more money to employees? Look at Jeff Bezos going to freaking space off the back of his low paid workers. Housing is a huge issue, in Australia people are throwing $1 million at houses because of low rates. Now the central bank needs to raise rates to combat inflation.
So thankful my parents decided to help me and my brother get us houses instead of getting us into colleges. They paid for half our house and we paid the other half which became super affordable for us since we live in a cheap small town out of the city. But I still wouldn't be able to live in my house on my own wage alone so luckily my fiancé has been living with me and covering expenses. We pretty much just make it by with enough money to do something fun once in a while. I couldn't imagine trying to have kids though, then we would never keep up. It sucks our generation is trying to be young adults in such a messed up economy right now.
Yeah, I agree with you in it being hard to imagine having children right now. It’s the last thing on my mind when you can barely afford to put a roof over your head and food on your table and clothes on your back. Now you have to have a little one to also worry about providing those things for? I can’t imagine it. And then the government worries that we’re not having enough children. Gee I wonder why🙄
‘Gypsy’ is not the correct title. ‘Suburban warrior’ more like. I lived out of a backpack in 4 states with barely a dime to my name. Suffering is an illusion: you should innately know this, gypsy. I finally settled in a trailer park because I have a child. We survive with only getting by on less than $20,000/ year. You’re gonna be ok. But don’t have kids if you equate material objects and the mighty dollar bill with love. God provides when no one else will. ❤️✌️
@@MayTheOddsBeInYourFavor swallow your pride- are you too proud to ask for help? I have not had to pay for clothes for myself and or my son in a long time: thanks to the goodness of others and shoving my ego aside. I grew up in an affluent suburban city and shared many of the same myopic views as yours- until becoming homeless in 08 and having to survive in one of the worst ghettos of Detroit, was a beautiful wake-up call. Praise be those with street knowledge. We can survive any cataclysm, by the grace of God.
@@IIXxx_juliet_xxXII wow. I'm sorry that had to happen to you, but if you can't see that parents begging for clothes and supplies for their children is dangerous and wrong and you see it as "pride" parents need to get over, then you really are missing the whole point.
Expenses have increased 8X since 1977. Wages have increased 4X since 1977. It is literally 2X as hard to afford a lifestyle today than it was 50 years ago.
shop and prepare own food - stretches dollars and improves your health - combos will sicken you. Designed to make u think you are saving time - a farce.
I think you are all missing the point that demand drives prices upward. If you would all stop trying to buy food every day like you need it or the world will end then prices might have a chance to go back down.
Who are we kidding? If you don't have a net worth more than 300k and a emergency saving for 6 months, you are not a middle-class, period (mic dropped.)
Lol, there are a very small number of folks who have those things. I am a millennial, and I don't know anyone that has savings that could last them 6 months. I just started my career in software engineering, and while i make a good salary, it will take me several years (at least) to save up and have savings that could last 6 months Edit: correction, i do not know anyone my age that has these things. I do however know some gen X folks that do have this kind of money
@@MusicGameFinatic999 I'm 36 with two kids. 2M net worth, 6 yrs of saved expenses and I started off as a security guard with no fancy degree. No, I didn't "invest" in cryptos or WSB FDs. A young coder can easily be where I am today in 5 years (less, if you are a dual income couple) if he/she know how to handle the money.
I'm old.Very old. IMO the definition of what middle class is has changed. I grew up in what people in my area considered middle class, even upper middle class. The concept that my parents would send me to college didn't exist. No one talked about going to college. Out of high school I went into the Army to get college paid for. My brother and sister went to work out of high school. Many men went into trades and blue collar work. It was acceptable and respected. Today ask any young woman what kind of man they look for and many will say "professional". Men working in trades are not seen as desirable. Doctor and lawyer is kind of the bottom limit which seems insane. But falling marriage rates are showing the result. Man and women when I was young worked together to create a life together. Today we compete with each other because we're "equal". We didn't have a cable TV, smartphone and internet bill. Going out to eat several times a week or ordering food in was almost never done. Going to the movies was rare and a big event. Covid has actually turned back the clock on this. Americans were spending so much just on eating out that when covid dialed back on that spending Americans started buying things for their homes. That's much more how money was spent 50 years ago...improving their homes which improved their lives. Today we spend on eating food we know isn't good for us. The diabetes rate shows this. The biggest change is productivity. I was a software engineer and I often worked 60+ hours per week. But when working there were almost no distractions. There was no internet. No smartphone to check. No social media. No Netflix, RUclips, cable TV. We had TV 3 channels, that's it. Oh, and radio. So when I worked I was focused on the work. When the internet started to become popular my productivity crashed. Look at me right now wasting my life writing a comment no one will read. It's addictive. We don't really measure productivity correctly. If we just divide production by number of workers or hours it includes all the tech added to increase production. But the worker's part isn't always measured. I think that has fallen off a cliff. If I go into a store the workers are on smartphones oblivious to customers coming in and leaving. When I see office workers it's the same. The bar has changed. Today a poor American lives better than a King in Mesopotamia did. Wealth is relative. We feel poor or rich depending on who is living around us. IMO these income numbers and such server to make people think they've poor because they love that message. They can blame others for their state. And the media loves this because they can keep feeding this message, keeping those eyeballs and ad dollars. In that way nothing has changed. Media always controlled the masses.
But i’m here, in the middle of Siberia, already reading it, just seconds after you have finished writing it. Ain’t it a miracle? Thank you for sharing your experience. Distractions and addiction are truly horrible internet side effects.
I'm not American, I don't live in the US but I have been visiting the States anualy and I agree, Americans have no idea how life is abroad. I remember a video of Doug DeMuro, he reviewed a Mitsubishi that is (were) the cheapest car in America. He said the car is garbage and made fun of that. A brand new car, with air conditioning, automatic transmission that a blue color worker can buy in cash in a couple of monthly salary. This is a thing that only happens in America, anywhere in the world it's impossible!
A lot of stuff you said especially in your first statement is all what’s considered boomer mentality. And rightly so, boomer companies like GM, ford etc are getting killed when it comes to talent acquisition. My point is everything evolves. People have to keep up with the pace. This woman in the video spends so unwisely and yet demands to be able to live in downtown Dallas. They spend $800 combined for two cars. Financial knowledge 101 is lacking there and of course her family is going to remain in the same level. Unless people learn to invest, especially when they don’t have skills in demand they’re going to get eaten up.
To be honest, she's got a pretty bad budgeting issue. $280/month for a phone bill? Even for two people, that could easily be cut by more than half. $800/month for two car payments? Buying two new cars with high payments at the same time is a bad decision. $400/month for car insurance? That's crazy high as well. She says she budgets to the dollar, but clearly not.
100% this. She could be so much more free if she didn't need the latest and greatest phone (no reason for it to be so high), and car payments can easily be under $500 for 2 cars if you're shopping for older vehicles. Money goes a long way when you're smart with it. We have a total of 4 cars, all paid off and the insurance is $682 for all 4 for 6 months ($114/month). Choose what you spend your money in wisely and you will be golden.
Justin, I was thinking the exact same thing. She could get rid of one car payment and get a used car. $280 for cell phones is really high. $400-500 a month for groceries, for a family of 3? I got a family of 4 and can spend the same. she could easily add to her savings, $500 a month. I live in the DC area and even the rental prices she mentioned seemed really cheap to me. The Pandemic has taught me one thing positive. Save. Stop buying stuff you don’t need. I who never saved before, but have banked a lot in 2 years. And I will never go back to doing it the old way. Never.
Her phone isn't too bad. At most, she can save 100 dollars. Unless you paid cash, 800 is just 2 20k cars financed for 4 years. Cars are just expensive. 400 dollar insurance, idk I have two paid off cars on my insurance and it's 200. When I was 25, my insurance was 350 for one car
I heard 80% of Americans live paycheck to paycheck, 70% of all U.S. workers make less than $50k per year, and only 7% of all U.S. workers are in unions, plus with massive college debt. So then how is it that 59% of people today are in the middle class, same as in 1985? Someone is lying here.
Of course it's big fat lie. The problem with modern economics is ideological so it doesn't emphasize on issues such as homelessness, higher educational costs, Healthcare and poverty.
Because the concept of middle class is poorly defined. Go ahead and try to describe what exactly makes somebody middle class. Can't do it based off income because obviously cost of living is highly variable based on location. Can't do lifestyle because that too is so variable (ie living beyond means vs frugal lifestyle). So if it's hard to define then the polling and statistics becomes very fuzzy.
Middle Class is something hard to define. When I was in business school one of my professors told me that the definition of middle class keeps changing. It depends with how one sees himself or herself. For instance, someone that has college degree qualifies to be in the middle class owing to his level of education even though he may not be having a well paying job . Someone that has a job and therefore able to get credit cards to purchase what he needs is seen to be in middle class. Middle class can represent a lot of stuff... Of course people in the middle also struggle a lot but they base their satisfaction on aspirations. Even their spending habits are based on aspirations
There is no such thing as a "standard middle class" for a country as large as the US. Cities like Miami, LA, NY, you need tens of thousands more a year to be considered middle class, vs western Ohio or some small town in Utah. The other problem is the image of what middle class is. Today, people envision two cars, a 2500 square foot home, electronics all over the place and a couple nice vacations a year as middle class. That used to be considered upper class.
Our wages have been stagnant for decades, the costs of housing and healthcare have steadily risen , millions of good jobs have been exported and government monetary policies have destroyed the dollar.
Speaking out of both sides of its mouth: The size of the middle class hasn't changed, they're just "squeezed." If income is the same but costs for everything goes up, then on relative terms, hasn't income gone down?
Right. The small group of people making 300k per household each year are the new middle class. It is too much of a tough pill to swallow I suppose to say those that were formerly middle class are now decidedly wirking class.
$800 in car payments a month is killing that family. $280 for phones is right behind that. They make enough and are middle class - they are spending more than they need to and not saving enough.
I really appreciate CNBC doing videos like these that highlight the problems facing average Americans. As a young person, I'm well-aware that the economic landscape I'm facing is a lot more challenging and, quite frankly, harsher than what it was 40 or so years ago. When (real) incomes stagnate but the cost of living continues rising, of course it's harder to maintain a middle-class lifestyle. What really astounds me, however, is how large the gap between productivity and compensation has grown. We should all be living better than we actually are. Honestly, if America keeps heading down this path, things will only continue to get uglier...
Other than do a video, what has been changed. It has been a topic for decades, nothing has been changed. Want politicians to do something about it, Lol. They finish their terms and make enough money then they will be disappear. Just think about it, there is no long term thinking or any strategy in this country…….
Productivity has grown due to investment in mechanization mechanization. There is less skill needed to operate machinery now.. Therefore the Demand for skilled labor has reduced.
I liked this video as well. My daughter is almost 30 and I'm 50 and she's having a way tougher time than I did at her age. She makes a little more than I did at 30 but could never afford to buy the house I bought at her age. . She's living at home and working to pay off student debt and save up money and is in a pretty good position but that's because she's living here. It's so hard for young people and ignorant people my age and older just don't understand that. Some of us make it worse. And let's not even talk about all the middle class folks using credit and debt just to stay middle class.
@@pisces031372aj I'm 22 myself and living at home b/c rent in my city is so expensive. Also have to pay down student debt, just like your daughter. I'd rather pay it down faster and buy a home someday, I hope anyways. I appreciate your understanding, a lot of older folks only have condescension for younger people.
From what I’ve realized after living in America for the past 20 years, it’s doesn’t appear that neither political party actually caters to the middle class.
Both parties have little interest in helping out main street America. This is the reality in a nation where both parties are in cahoots with oligarchs and big corporations purposely creating reccuring structural debts and print money up in order to socialise their manufactured losses and failures at the expense of devaluing Main Street America's earnings. Fair would be creating less income inequality through means of a tax burden shared broadly across the citizenry like they do in some other very rich some countries that have civil-like oligarchies even where oligarchs have covertly deployed their resources and pay and even get subsidized for it in a similar manner as they do in the US. Of course they have the advantage of multiple parties and laws that provide all competing parties allocated free broadcasting. Also progressive folk on both sides of their political spectrum don't have to congregate under one of two large parties to be heard like folk feel they have to in the US. Unfortunately in the US, the two parties make the rules that prevents thirds parties to fare well.
Im 18 years old and I remember when I was in middle school how 75 dollars would get you a full cart of groceries and now a full cart is almost 200 dollars it’s astonishing how In a six year time span its increased this much
It's not even the last six years. Two years ago, I could come home with three or four bags of groceries for about $60-65. My last trip to the store, I came home with the same number of bags, didn't buy anything fancy or extravagant, and paid $104.
The pure reason for this are wages being stagnant but inflation keeps rising in all sorts of places. Wages need to be scaled up as inflation rises to account for this. There's a reason why there's always record-breaking stuff related to money, but at the same time poverty keeps increasing.
You can thank globalization for that. So many of jobs that used to be done domestically are outsourced. We're competing worldwide now, so get ready to live a worldwide standard of living (hint: it's quite lower than what you'd want).
I bought my home in June 2009, during the housing crisis and when the government was offering stimulus for homebuyers. I had no desire to be a homeowner, but my father (rip) made it his mission to make sure both of his children had a mortgage by the end of 2009. He and my mother gifted each of us $5k for the FHA loan down payment. We got $3k from Uncle Sam just for buying a house (i bought a fridge, washer and dryer with the money). Sometimes I didn’t like my dad for rushing us into home ownership. I wasn’t ready. A house is a lot of responsibility and most times the budget was tight - especially in those first 5 years. Large home repairs were a crisis, but I’ve made it through. I see now why my father saw it was a great time to buy and how important owning a home is as opposed to renting. My home’s value has doubled in those 13 years and my PITI is still $1200. That’s what I am required to pay, but I pay more and should have this mortgage paid off in 4 years. 13 years earlier than scheduled.
Crazy to think only a few decades ago, a single working parent in a factory could support a whole family, even buying a nice house and a vehicle.
Mississippi has been a shithole since the 1970s
Population is going, spending money we don't having on a bloated, useless military
Billionaires shouldn't exist. They should be forced to give excess wealth to government, relatives or trusted charities
No, vehicles were expensive back then.
@Bob Indeed. The best friends that corporate capitalism could hope for are lefties. These people have damned us all.
This is a result of outsourcing manufacturing to China, which only has benefited the upper class who own shares in these companies!
at least you can buy stuff by printing dollars (aka credit cards), here in mexico we have some manufacturing jobs but they pay a misery and prices raise and raise, and credit card interests are exhorbitant so we can not purchase anything, we only survive. People in wall street are the biggest winners, because they use the money they print to buy assets like real estate and stocks and they get richer and richer.
My dad and mom didn’t go to college. They both graduated high school in 1960. Dad was a plumber. Mom was a homemaker. They had four kids. Owned a nice house. And all the kids went to college. That life is gone nowadays for young people.
Plumbers make boat loads of money nowadays
You just described my family as well. My dad was an independent building 👷♂️ contractor and my mom was a homemaker as well. My brothers did go to college as well. These days are truly challenging. Well stated.
@Joscha Wexler And sir just those few words tell my story as well. I miss so many aspects of it. Well stated.
My grandparents didn’t finish college. Grandma was a bank teller, grandpa was in the army and worked at a pool store. They have a nice house (for LA standards) and supported 2 kids through private colleges and were never struggling. I’m a CS new grad and don’t even see that happening to me if I ever have kids
How can you think that kind of lifestyle is sustainable? You parents were able to do so bcos the country benefited from being the superpower post WW2. Now the country is losing in global competitions and so normal peoples lifestyle back to what it should have been
Rent, cost of college, daycare and pre school, and health care costs are out of control. Most of my friends younger than me have chosen not to have kids, and I don't blame them at all for that decision.
Don’t forget being taxed to death. I am a hard-working middle class American just like you, and paid more in taxes last year than a lot of people bring home in annual salary. Ridiculous.
White supremacy is coming to an end in America.
This is spot on. I am 37 and have decided not to have kids due to the exact reasons you listed. Rent, college, daycare, and health care. Exactly those four, the things that are necessary to live and raise a family are being criminally overpriced because there are no alternatives.
@@HonorableBeniah-A the hell, wrong comment section buddy.
Modern life style of human bieng is deteriorating the ability of humans to produce life and certainly soon it will completely end life generating capabilities of human bieng.
My plan was to retire at 62, work part-time, and save, but rising costs have derailed it. I'm worried if those who faced the 2008 crisis had it easier. With a lower income and a shaky stock market, I fear I won’t have enough savings for retirement.
To attain upper-class wealth, a wise individual recognizes that building financial success requires smart investments, strategic tax planning, and informed decision-making. Although the stock market offers growth potential, effectively seizing these opportunities demands both skill and expertise.
I agree completely. I’m 60 years old, recently retired, with about $1.95 million in non-retirement investments. I have no debt, but not much in my retirement accounts compared to the rest of my portfolio from the past few years. Honestly, you can’t ignore financial advisors, just take the time to find a good one you can trust.
Can you share how to contact your advisor?
Her name is ' Rebecca Noblett Roberts ' Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
My daughter is 25 and still lives at home with my wife and I. She works full time and saves most of it. I told her to keep saving until she has enough to buy her own house to live in or rent out, or save enough until she has enough money to start her own business. She only has to pay the electric bill, so she's stacking up lovely. That's one way to make it. Family should help family if they're trying to make it.
8
You are great parents, a true blessing providing such a great support system. I hope she continues and reaches her goals.
She's going to be saving for a longgg time
@@Striker50_ , patience and persistence is a virtue my friend. 😃
Did she go to college or university? If yes, how did she pay for it?
My grandfather was a mail carrier for the USPS and grandmother was a homemaker. With that one salary they bought a house, raised four children, and sent all four children to catholic school. They didn't have money for any extras, but they had enough for food, healthcare, clothing, etc. and didn't receive food stamps or any government assistance. That would be impossible to do today.
with one salary, one can be expect no money for children, wife, and bordering being homeless.
The rest of the purchasing power is going to the central bank slowly overtime. Politicians are not allowed to lift that paper currency of their own nation and start talking about it. It's supposed to be an independent institution so they "run the economy the best way" with trillions in debt apparently.
"A great watch - What are you? Collective Realism ruclips.net/video/S5f5zKsN1DE/видео.html
Usps pays minimum wage
Two things to blame, democRATs and the federal reserve monetary system. Eliminate both and the country can get back on track.
Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.
True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect my funds and make profit from my portfolio this red season. I’ve made over $250k since then.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can I get access to your advisor?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..
Collapse is generous 1st time in our history with a full generation that wasn't taught financial literacy, civics, Google fixes their problems if their parents don't do it for them. Reckoning for participation trophies is incoming.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@shirleneunglesbee1423 Hi Mate, please how can i reach this CFA of yours?
@@shirleneunglesbee1423 I searched her up online and checked out her credentials since I was so intrigued. Top-notch! I emailed her to inquire about accepting new clients.
Whatever you do, don’t take a serious look at what Jews who’s family immigrated to America from Eastern Europe around the turn of the 20th century have been doing.
Another thing that bothers me when people talk about the middle class is, no one seems to care about the singular middle class person. It's just about families. It's almost as though the people who've decided not to have a family don't matter, as though we don't struggle too. When things are put in place... tax breaks and such... it only seems to benefit families.
Especially when it comes to affordable housing as a single person.
Correct and voted up.
@@dianewebb1855 Totally agree with you, thank you.
Agree!
The American dream is house with two or three kids and a couple cars out front. Clearly by this definition single people don't count.
A single person.
Chantal’s story is so relatable. Taxes and insurance eats a HUGE portion of your paycheck, and you still find yourself out of pocket for healthcare costs. It’s insane
Its way more taxes than 500 if you make six figures… more like 4k a month in taxes
@@randiaz95 I make six figures and my total payroll taxes are not that high. Not even close. I guess it depends on what you mean by six figures. 100,000... no...500,000... maybe. You don't need to exaggerate to make a valid point.
Move very very close to Mexico border , stop paying medical insurance and go across the border for any medical related issues...
That graph though.. the only classes growing are the rich, and the poor.
It also depends on where you live too. I do think he exaggerated a little but some states have a giant state income tax percentage.
„If they’re in their thirties, they may not feel comfortable having kids because they’ll realize that having a child would be too expensive.“ Exactly. Same in Germany.
Uhh yea, I'm 36 yo woman and do not want to have kids. My mom tells me I will regret it, but I make $40K/year .., can't imagine having a child on $40K/year in the US, it's simply not possible.
**Edit -- I should say I want kids, but I just "can't" have them due to financial reasons. If I made more, I would adopt or foster 😊**
@@LTilli313 I'm in the same position, more or less (I'm 35). I think a lot of the older generations simply don't get many of our generation do not want children because it either isn't an option at all or because having a child would mean that the child would grow up poor. I would want the best life for my children, and I cannot provide it.
Except in Germany you have TONS of social services, including medical treatment. Here, you have nothing. I got pregnant without "maternity" insurance- I had standard health insurance,which costs me thousands a year, but no pregnancy coverage- and I paid $20k for my baby, out of pocket.
in den 90er Jahren mussten meine Eltern noch Kredite aufnehmen, um sich einen großen Wohnzimmerschrank & TV-Kommode leisten zu können. Heutzutage können sich Leute in ihren 20ern solche Dinge ohne jeweiligen Zusatzaufwand oder -belastung ihres Geldbörsels leisten. Ich bin zwar auch eine Person in den 20ern, aber ich habe nicht viel zum Beschweren, da ich mir heute (subjektiv gesehen) mehr leisten kann als meine Eltern in meinem Alter. Dass ich einen Kredit auf 30 Jahre aufnehmen muss, um eine Immobilie zu kaufen, liegt nur daran, dass ich Single bin (ein potenzieller Partner/eine Ehe könnte das Einkommen mehr als verdoppeln) - und vielleicht auch, dass ich mir mindestens 2x/Jahr einen Urlaub leisten möchte.
@@aeskewprop Yes but in Germany, the taxes (especially on companies) are also high. The USA is a land of free when it comes to corporations compared to Western Europe where they take away often times even 50% of your profits by enforcing high taxes. If the US were to introduce MUCH higher corp.taxes, yes maybe you'll have companies fleeing the country, but you'll also have more to provide. You can't pool resources out of an empty container
It’s happening here in Canada too. It’s frustrating. You get a “professional” job and still struggle. Not sure what’s going to happen if this keeps going on.
In north america, you are suposed to leave the popular big cities. In some cases the popular states-provinces. Once youre ready for the owning your own house life
For example, if you lived in Toronto city. leaving the city to live in a small town 30 km north from Windsor can be a winning action. Cause houses/appartement are cheaper
If you live in Los Angeles-new york. Maybe moving to a small town in Texas. Might be winning action
You can also move to a less popular big city. Going from Vancouver to Calgary or Winnipeg Saskatoon will make you save money
Going from San Francisco to Portland will make you save money etc
@@mathewvanostin7118 The jobs in that small Texan town won't pay the same as the jobs in L.A. though. It's easy to think, "I'd have plenty of money living in a rural town in Texas making $300k." Well sure, but no rural town in Texas is going to pay $300k. The average "high" income in cities like Jackson, MS or Birmingham, AL is around $250k, and those places are anything but rural.
I live in a small rural town in Alabama, and a lawyer with his own law firm might earn around $150k a year. Most folks here are lucky to earn $30k.
@@mathewvanostin7118 wtf is even 30km north from windsor? still 400k condo for 1br? and wheres the job to support that??
Civil War everywhere ( I am frénch) .
Thé great reset for politicians😁😁
Collapse and chaos happens lol
Productivity is up but wages are stagnant for everyone but the higher ups. House prices are thru the roof and real estate is being gobbled up by mega corporations. I can't imagine why the middle class is disappearing.
not to mention politicians keep raising taxes in order to fund whatever nonsense they want to pass
But we have the richest people in the world
@Craig Namerow raising prices are hidden tax. let's go brandon
But America is still the best country ever am I right🤡
I Hope they all lose their ass on the rel estate, Can't wait for that big bubble to pop
I'm 67. I remember when it was possible, if you lived at home with parents who didn't charge you rent, and you worked a part time job (full time in summer), you could easily pay for college at a state university. I did. This is unimaginable today.
My summer job barely covers 1/3rd of my college anymore. I’m not even enjoying it anymore.
My summer job barely covers 1/3rd of my college anymore. I’m not even enjoying it anymore.
@@jameshersom2536 go to a school that pays for half ur tuition. Home depot, lowes, target (depending on ur school)
@@ngndnd that's if they give you the hours to be an employee that is eligible for benefits
My Uncle was a Vascular surgeon in NJ He said he bartended at night to help pay for med school.
"The wealthy, have all the money and pay little to no taxes, the working class pay all taxes, and poor families are there to remind the working class what would happen if they quit that job they hate so much."
-George Carlin
Don't blame the wealthy for paying little to no taxes. They pay what they are legally required too.. Just like you... Blame congress that keeps the tax laws the way they are...
Because that's how capitalism works. Exploiting the general population to make the rich richer. In imperialist societies, that exploitation is exported and it's foreign population that get oppressed, enslaved and murdered. Once the foreign populations liberate themselves and become independent (e.g. China), capitalists need someone else to exploit... if no other foreign victims can be found, they will start exploiting their own people.
Capitalism always fails. Capitalism is always unsustainable. Capitalism is inherently harmful to human society.
Try reading a real economics book instead of educating yourself with comedians. Good God.
"The wealthy, have all the money and pay little to no taxes"
George was wrong on that one.
@@jasonkauppinen3475 No he wasn't lol. Look at the wealth distribution in the US. The elites own a vast percentage of the total wealth, and pay virtually nothing in taxes. Hell if you look at corporations like Amazon, they do pay nothing in taxes.
It's insane how a family who makes $100,000 a year is stuck renting and can't buy a property of their own (in the area they live in at least). This is not normal and needs to change
Airbnb has been effecting that issue as well
NOT ENOUGH HOUSING BUING BUILT, ALSO ZONING LAWS MUST GO, THE NIMBY IDEA MUST GO
It will. Big crash coming
@@LassieFarm WITH HIGHER INTEREST RATES COMING ON, HOUSING WILL BE GOING DOWN, TO MAYBE AFFORDABLE LEVELS,,
HOW DO YOU EXPECT TO CHANGE THIS, THE ONLY WAY IS TO SPREAD OUT ALL THE FACTORIES TO OTHER LESS POPULATED STATES, AND MOVE PEOPLE THERE TO AFFORDABLE HOUSING,
And people wonder why younger people aren't having kids.
Teenage pregnancy is at all times high world wide. I'm not sure about the us
@@rutherford5619 it's too common. I was in high school 10+ years ago and it was scary seeing how many girls were getting pregnant.
People are having kids to get more food stamps n everything else that comes with a new kid.
Exactly, you can barely feed yourself, why bring an innocent child into this world just to have him suffer, you have to be financially stable to have a family these days.
You can also blame feminism for that.
In 1965, my parents bought their 3bdrm, 2bathroom home in southern California for under $20 000, on an aircraft mechanic's salary. When they passed away in 2017, that same house went on the market for over $475 000. Their working grandchildren could never afford to buy that house.
The middle class is dead.
My parents purchased their house in the 1970’s for $50,000. Today their house is worth over $2 million. The housing in San Francisco is out of control.
My parents bought their home in 2016 for 150k. Now it’s “worth” 320k. The dollar is worthless.
That's because not enough new homes have been built!
@@empirestate8791 Land and building costs are extremely expensive.
@@angelgjr1999 Not accurate at all. The dollar is actually higher, right now, against a basket of other currencies than it has been in years.
Pandemic notwithstanding, now would be an economically ideal time to take European or Japanese vacation. It's been years since the last time the dollar went this far in overseas markets.
I had a conversation with my parents and grandparents last christmas. It was shocking talking to them about the generational changes about the middle class and how much easier it was to provide for your family. The American dream is slowly dying year by year.
Keep voting RepubliQanon because multi-billion dollar corporations, millionaires and billionaires need more tax cuts, they promise the next one will really work!
Because of racists .. they feel the others don't deserve a good life
@uno Mostly it is happening to Americans thanks to trickle-down economics...
It's happining all around the world. I'm from Brazil and even though Brazil never had a economy like the US, life was easyer, my grandfather was a bus driver, had 4 kids and was able to aford a big house while he was working and when he retired he bought a small farm a tiny house in the near city and 2 cars, my parents and their siblings was unable to buy a house while working, had a time when things were cheap and affordble, now a popular car is getting around 100k and it's not a popular car for american standards, it's really not worth it. I know Brazil is not comparable, but we are facing similar things, but we are going wildly faster, what took for America 50 years, we did in 15~20 years.
Obviously a lot of things were cheaper back then and people were happy with the simple life.
The broad-based Standard & U.S. consumer confidence has sunk to record lows, thanks mainly to inflation. Retail spending, home-building, and manufacturing output all declined and those who drive the U.S. economy, are starting to cut back on discretionary purchases, such as appliances and services. Regardless of our market conditions, however, we should continue to promote savings and smart investments.
There is a very critical situation for people in the United States and other countries. The world economy is going in a very bad situation. Inflation and unemployment are on the rise۔
There are several reasons why I invested under the guidance of an investment advisor, i.e. someone who establishes an asset allocation that matches my risk tolerance and capacity, my investment horizon, my current and future objectives. "LISA ELLEN SHAW" provided all of this and I don't want to go ROI on a public space.
@@MIchaelGuzman737 There is this podcast i was listening to and it said something venturing within your tolerance and risk capacity, see you mention it again got to me. How can one reach this advisor of yours?
@@greekbarrios Just look her name up on your browser, it shouldn't be a hassle finding her webpage since she is quite known.
Saving is a terrible idea aside from keeping an emergency fund or a planned purchase that fits into your overall financial picture. Any money beyond that needs to be invested in assets beating inflation or you're moving backwards despite the self sacrifice
I don't understand how the average person is supposed to afford rent with the prices increasing so drastically.
It's part of the plan to bankrupt the whole world and have big gov come in and save everyone.
@@krayziejerry yeah I know. Its crazy what happening as the days and world go by
I make 51,000 and I am struggling. Considering a second job. I have no kids and it’s crazy.
"Just get a house then" - prime minister of australia
@@pinkforeverlove1 I remember talking to somebody from the 1960's. He said that minimum wage was about $1.60/hr and 1 gallon of gasoline was $0.25. This means that you can buy around 5-6 times the amount of gasoline with minimum wage during that time. Fast forward to present time for example, gas is about $5.50 - $6.00 per gallon and minimum wage is $14 in California. This means that we can only now buy a little over 2 times the amount of gas, compared to 50 years ago with 6 times the amount, to summarize, our purchasing power in 2022 is 3 times lower than it was in the 60's and minimum wage, if kept up would be at around $33 dollars per hour. Also keep in mind that men use to raise their families on minimum wage half a century ago just fine with no wife working. Nowadays it's borderline homelessness.
There’s a saying, “I would rather be rich, or poor, but never middle-class. The rich can afford health care and anything they want without worry. The poor qualifies for free health care and government assistance. Whereas, the middle-class have to budget for health care and other expenses; yet, not poor enough to qualify for government assistance.”
Why are we middle-class citizens not doing anything about it? I’m surprised we aren’t out with torches and pitchforks to elect politicians not in deep pockets with the ultra rich. Unfortunately, the rich are smart; making us all too divided (R vs D) to work together against the real threat against the shrinking middle-class.
The rhetoric is strong. People are convinced that a candidate's proposal to "raise taxes" means "raise them for the average citizen". What they don't understand is that no one wants to do that, they just want rich people to pay *their fair share*. If you break it down for people so they realize that upper income earners pay a *smaller* percentage of income tax than a middle income earner, to give just one example, who wouldn't be upset?
@@dswan1418 in many cases that just isn't true unless you compare capital gains taxes to income taxes. But hey, keep following Bernie Sanders.
Such an underrated comment. This is the real issue.
The reason why the "middle class" is screwed is that the owner-class of this country wants to eliminate competition, so they make sure to squeeze middle-income earners with more taxes and take all the share for themselves (bailouts, corporate subsidies, etc.) At some point, the ruling class realized it was more profitable to do so (because there was so much wealth the lower classes accumulated after WWII), and here we are.
And the best part for the riches is how the middle class do all what they can to hurt poors.
I've been living paycheck to paycheck all my adult life. My parents will never understand why. And it can be very frustrating to not have them understand.
My partner's parents are rich, in my eyes, and it's like an entirely new world. They don't blink: paying for a new backyard fence one week, then a new sunroom the next. My family of 8 would have to budget for years for each home project.
Yeah I live paycheck to paycheck too still living with my parents. Depressed most the time just cuz I think I'll never be able to move out on my own think I'm eventually gonna be homeless. Didn't work for like 6 years cuz im bipolar and didn't think I could do anything for awhile. But been working for over 3 years now part time as maintenance pushing carts.
@@redman0728 well, atleast your going places
I am a Physician I had a Uncle who was a Surgeon. He said Dr's dont make as much money today as they used to. I look at the Dr. parking lot in the Hospital parking lot and its filled with Subaru's and SUV's. Back in the old days I remember seeing Jaguars Porsche and Mercedes.
@@redman0728 l have Bipolar Disorder too. I work part-time but l have a roommate and other streams of income. Check Social Security for disability benefits. I receive it. I hope you keep going and hope you get better soon.
Molly, were your parents financially comfortable growing up? Because I always hear about these boomers or Gen xers or whatever who can't empathize with young people because they have achieved the American Dream. I seldom hear about people of that generation like my parents who have always lived paycheck to paycheck and often ask me for money. As a result, though, they empathize because they're reeling from the effects of it as well.
Five to six decades ago, my dad, with an 8th grade education, bought a house, two cars and three harleys, while in his 20's. My mother was a stay at home mom.
Different world today. Need a massive amount of income to afford a similar quality of life as what it was in the 60's and 70's.
Quality of life now is significantly better than it was 6 decades ago
Bunch of illegals and immigrants making low income skewing statistics
@@jsebby2284 how do you measure quality of life. Owning homes is a massive part of that and that is decreasing.
@Abdirahman Warsame and home ownership rate is higher now than it was 6 decades ago
I feel like it's pretty obvious what quality of life is. Rich people didn't even have a computer 6 decades ago - now poor people have one in their pockets. 6 decades ago black people didn't even have equal rights. Healthcare is better, education is better, were richer, etc
@@jsebby2284 agreed but it is still worrying how difficult it is to own a house not to mention the ridiculous property taxes you have to pay.
I hate the term squeezed, That's not what's happening. People are being systematically impoverished by ever increasing prices, corporate capitalism, and a government that is "By the rich, for the rich" . If we're being squeezed it's in the way that a lemon gets squeezed; juice extracted until all that's left is an empty shell to be thrown away.
People are being systematically impoverished by ever increasing prices
And this is the first time in modern history that inflation has been 7.5%?
Yeah
Very well put. They are CREATING a populace that's Entirely Impoverished on purpose. This didn't just fall into place, it was very maticulously and heartlessly *Planned* .
If you cant beat them, become them. That's what I did. I used to blame others for the woes of capitalism, then I simply started my own business and got rich.
@@user-wz4db1zn3r Same, used to be homeless and on the streets, but then I just bought a house. It's really not that hard people are just lazy and blaming others for their shortcomings.
The middle class isn't shrinking, they just can't afford the things they use to anymore... WELL THEN THEY'RE NOT MIDDLE CLASS ANYMORE ARE THEY!?!? ffs
Yup.
Being middle class is not about affording things, it's about having a stable financial life. Like too rich to be poor and also too poor to be rich.... and look like those times are being wiped out again. Will it ever return...? The answer is I don't truly know... it's not just up to politics... it's also up to the resource values and to us to make things economically stable again...
@@okamijubei dude, that's literally politics
Listen to CNBC tell you why you are disappearing. That will work.
@@finitecurveGunning I'm speaking of economics. Why make almost everything political? Not everything has to be political. And why want things to be rich or poor? That's what the communists do.
When everything rises in price, but the income doesn't, it makes living alone challenging. Even more when you plan to have a family which multiplies the cost of living no lower than 10x the amount.
I could not agree with you more.What sort of hope is it left for us all??
@@perapelman7687 stocks I guess
@@perapelman7687 my plan right now is to buy a used van, convert it to electric with solar panels on the roof to have it act as my "Home" for even saving up for a home is so costly. Learning to play in stocks to be a stable income and save enough to last me til my retirement Traveling my country with my van. Plan for having a family is way off my list unless I get lucky enough winning a lottery so I can buy a fast food chain franchise. Other than that, I'll continue living alone doing whatever I want and saving up at the side.
Surprising the CNBC even recognizes the existence of the middle class.
Biden did that.
Working under some one is like imprisoning yourself they get all the money and you get little pay, may God help us.
Yeah that's right, how many millionaire you see working for salary of $5,000, my advise to to get second source of income.
@@parkerrosemary-it4krYou're absolutely right, to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.
I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.
Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people
Obviously talking about been successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as Debra Barton@@kevinfaith-oy5gh
I see a good amount of people saying they are taxed to death and how that's a main problem, but what if the problem was WHERE our taxes went? Many other countries have higher tax rates yet enjoy much better lives than many of us here in the land of dreams. I do recognize that we are essentially allowing other nations to live better lives by keeping them safe* with our ridiculous military spending, but isn't there even a small portion we can take from our military spending to invest in social policies, universal health care, etc. ?
your heart is in the right place but your military does not exist to protect other countries. It exists to subjugate them and destroy those that step out of line by threatening the hegemony of the American dollar/oil status quo.
@LightSound Geometry focus on the evils of imperialism, rather than the fact that they get well paid and retire with life left to live (if they live through their murderous invasions 😬).
No good reason why all Americans couldn't be well paid and afford to retire young. that is the sort of thing Americans should demand from their system. But instead America is the murderous regime that simultaneously treats it's own population like disposable wage slaves.
But I think you have a good point, their decent salaries foster a viscious loyalty from a base of the population that otherwise would not be afforded a higher quality lifestyle. It is a welfare program, exploited by the elites, in a society brainwashed against the common good.
@LightSound Geometry imagine if the funding was diverted to actually benefit and educate and provide for the citizens of the US.
Dr Michael Parenti and Chris Hedges are the best commentators on the reality of American imperialism.
@LightSound Geometry they will take the western world down with them. but I have faith the end of the neoliberal nightmare is in sight within our lifetime.
I was with you until the "keeping other countries safe". That level of delusion is clinical.
31 no kids, college degree, no healthcare, never married, never owned a home, renter for life, never made more than $35,000 in a tax year.
Ouch
Same - except im still looking for a reliable job.. and Im a few, but not many, years younger 😔
at least you make 30k not 10k
But did you die?
@@Gchang54 well he has no healthcare so might as well
Chantal said it perfectly - even if you have a great job making good money, its not enough. I haven't been able to save in years just because of keeping up with monthly expenses. Our parents don't fully understand our dilemma, but we now have expenses that didn't exist 40 years ago: cell phone cost + bills, internet bill, computers and electronic devices. 33 years ago, my mom bought a house as a single mother with two kids on a $21,000 salary. I make 3x that without debt and I'm struggling to get a mortgage.
Is everything you spend money on a necessity?
@Pork n jeans ever considered that there are people working remotely / online? especially since covid, we've all become more dependent on electronic devices. same for students too since they've been attending online classes.
@@swiftiepharbz in that case being able to work remotely and the savings that come from it should more than cover the expenses of the computing equipment required for remote work.
@Pork n jeans O boy.. we just met a person awoken from a cryo-sleep!!
Even your boss will kick you out once he finds out you can't be reached via any messenger or SMS. /facepalm
@Pork n jeans people literally depend on those devices as they are required for their jobs, which is what they need for their income. if you can live without electronic devices and your job doesn't require it, cool. but plenty depend on it now. not just for entertainment, but as well as searching and applying for work, communicating with their colleagues, etc.
The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Certainly, I've been consulting with a Certified Financial Planner (CFP) since the outbreak. Beginning with an initial fund of $80k, my advisor makes decisions on when to enter and exit positions in my portfolio, which has now expanded to around $350k.
who is your advisor please, if you don't mind me asking?
Her name is Amber Dawn Brummit can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Wages have been stagnant for decades (when adjusted for inflation) while the prices of homes, cars, food, gas, college etc. have skyrocketed. Corporations and many employers are extreme capitalists who use their earnings for stock buybacks and CEO bonuses instead of paying a fair wage. The US government has even incentivized these actions with huge tax cuts and subsidies. Until we get the lobbyists and money out of politics nothing will change
Franchise own businesses not corporation that have huge debt because of government , result prices go up
Well everyone is fighting about what Joe Rogan said 20 years ago and what gender they are today…. Sooooo I don’t see us getting together and demanding meaningful change anytime soon. We’re on a sinking ship. Full of asshats on their phones not even paying attention to the ship sinking. Fun stuff 👍
The corollary to that is: if you can't beat 'em, join 'em.
I watched and gnashed my teeth in 2008 when TARP was passed for the Too Big to Fail banks, shortly after they collapsed the economy with their recklessness. Where was the justice?!
Today, I'm a shareholder of JPM, GS, and C, among others. God is dead; the only justice is that which we make for ourselves.
@@StochasticUniverse god certainly is dead! Finally someone who isn’t a mindless religious nut preaching how Jesus will save us all.
Very very true
I think the big problem here is that the prices of everything keep rising but income doesn’t, and there’s hardly anything ordinary people can do to stop it so how should it not be scary?
The main problem is price rising. Why allow prices to go haywire like this. It s a man made problem.
They want to nuke everything to build back better
It's all of the governments plan,i worked for the COVID 19 vaccine and they have plans to lower the amounts of consumers since farms are having problems producing products for the masses of people
KidRock put a song out about this just like 3 months ago. I've been so blind just always working my @ss off like a mindless zombie.
@@CVal012* Jewish * made problem
9:00 this is HUGE. That’s how I feel. Being middle class is great but then you get Zero benefits because the government says “you are ok, you don’t need any help” but it’s no longer the case.
Biden don’t care about working people. He’s spending more to help Ukraine than homeless people in the us
@@garyoakham9723 technically that is just handing money to the rich....but ya...war....guns
I agree
I grew up as the working poor
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or bitcoin and stocks.
I keep wondering how people earn money in financial markets, i tried trading on my own made a huge loss and now I'm scared of investing more.
@@Aimee966 Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch….
@@Aimee966 I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..
I had a social worker tell me once, "Poverty tends to move from one generation to another. It's bad enough to be poor and stay poor. But it's worse to become poor. This is the trend which radically changes society (2008?)".
I agree but think young people don’t have realistic expectations. And some have been spoiled and don’t realize that life takes effort so when they become independent young adults claim poverty but they are earning $60k. Stop drinking Starbucks, don’t get a new phone, live with someone to share bills, and drive an older car.
@@charliejennifer3874 Also don't get a degree or you'll be in debt the rest of your life but also get a degree or you can't get a job to pay your bills but you can still get a trade job which will be worth it until you get injured and are back to debt slavery. And that flat you're sharing with others is either going to be far from work causing your travel and maintenance expenses to rise or it's close but stupid expensive so if one room mate leaves and no one else quickly moves in you'll find yourself homeless.
People have already stopped buying luxuries, it's why every month we hear about another industry millenials are killing yet the costs of living continue to rise so what should people do when they're already living tight and their rent went up again? Even if your avocado toast nonsense worked the death of consumerist industries puts more people into unemployment meaning more competition for remaining jobs, higher taxes to pay for them and less incentive for employers to raise wages.
Factor in the aging population and automation replacing jobs and your victim blaming becomes more of a joke.
@@hurrdurrmurrgurr bravo.
glad someone had the energy to refute the same old self righteous nonsense
Well dont live above your means if you dont want to be poor...
If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time.
You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..
Blame the federal reserve system.. Banks lend out money they don't have and then charge interest on it. It is nothing less than legalized fraud and modern serfdom. This goes back to 1913 not 2008
The housing market is through the roof and very competitive in bidding for a home. Us late millennials are having hard time looking for a home and are forced into a rental apartment thats owned by a commercialized property owner that I'll be paying similar to a 30 year mortgage rate. Also getting crucified by the outrageous taxes on the middle-class.
And as potential home buyers are pushed out of the market, tattooed to become renters, the rent goes up and renters who lived in the apartments before these newcomers have to move and there is nowhere to go. In the meantime some homeless shelters charge for a cot on a cement floor.
Yea it’s tough time for young people trying to buy a home, guy at work keeps on getting his bids beat out even offers over asking price in cash.
All brought to you by the government.
24. Probably will live with my family until 30 and won't ever have a kid
@@Sophie3647s why? Just live within your income.
the middle class isn't disappearing,its been gone for a solid 10 years. Now we are split in two,those who can make rent and utilities on a full time job,and those who can't.
There’s still a slight middle class. This isn’t india.
Yep and it's for sure gone now, most of Americans that do own a home could not afford to buy it at today's prices.
@@msi8311 I think there is a sizeable population of middle class people in India.
A lot of people were pushed into poverty during the pandemic but that is expected to revert when the economy spins into action yet again.
That is not true.
There's no middle class, there were a middle class never, it just a way to divide the working class, who are the people that sell their time to the owner class and it doesn't matter if you earn 10k/year or 200+k/year, the only classes that exist are working class and owner class
I am 50. I worked full time and paid my way through college by going part time. Credits were $100. The first house I bought was from an old lady for 28K in the mid 90's. It all changed in 2008. Home prices began to rise then the housing market collapse. Home prices never went back down. Over time a decent automobile went from 20K to 50K. Food prices are now insane and wages have barely risen.
Exactly, they said the recession was over, but it was never over for average people. What they're calling "middle class" in this video sure sound like they're poor!
I think one reason the middle class is disappearing is a combination of inflation and stagnant wages. Not the only one but the fact the minimum wage hasn’t kept up with inflation is definitely something to worry about.
Trickle down is a ridiculous failure, Reagan was a moron
@@bentmercer Biden been in power for 40 years. He voted for all wars and became a billionaire.
The problem with your theory is that very few people actually work for minimum wage. Most work for way more.
@@bentmercer Anyone who calls it "trickle down" is a moron and should not be talking about economics.
Its not that the minimum wage has not kept up. You can not live on a minimum wage. The efficiency of computers has put the number of people you need to manage and produce product down. The workforce needed is less but people still have to find higher jobs that pay more money. Those jobs are being done overseas for less money. Any televisions being manufactured in the USA or how about steel??? Productivity up and salaries down.
"The reason it's called 'The American Dream' is because you have to be asleep to believe it."
- George Carlin
Ironically he'd wasn't on your side dumb Republicans and was in support of a living wage and making sure companies won't raise prices. Burn
Deep…
And who's the ones to blame for prices going up?
Answer: politicians. Left, right, middle. It is all of them. We pick sides when no one is really on our side. We fight over who's right when we are all fools.
You are correct.
So true. Left wing. Right wing. Same plane, headed in the same direction.
@@theroundman we are nothing but pawns, are we not?
YES! The left hand and the right hand are just different sides of ONE body. None of them give two shakes about the people. Every single one of them leave office richer. The longer they are in office the more filthy rich they are. NONE of them will come save you when the problems THEY cause leave you destitute. Wake up people. It is a big club and we aren't in it!
@@djot1745 it's just a small part of the big picture.
I'm 27. I live in Maine, a place where ambition goes to die. I come from a very ordinary, blue-collar family of sticks in the mud. I've never been to college, never had my own place, and haven't had a relationship since high school. Instead, I've been quietly saving and saving to finance my life of being a digital nomad and after several years of hard work I'm finally seeing that dream close to being realized (assuming nothing crazy happens). My advice is follow your heart, avoid the rat race, and don't be afraid to leave America/Canada/Europe/Australia in search of a better, cheaper life elsewhere. Because things are only going to get worse.
I feel you man. Big time
Everyone needs to stop saying. Everything is going to get worse. You all act like its the end of the world. But there's better places outside america
You're lucky you have your health to do that, good luck.
I've been teaching for 15 years and have my Master's. I bought my house for $55,000 (foreclosure). I count every penny in and out. I'm single. (stay with me, getting to point) I don't have Netflix, Hulu, Amazon Prime, or any other subscription service. I don't get my hair or nails done. I don't go shopping. I sold my car and bought a piece of junk in cash with super cheap insurance because it's a 1999. I canceled my life insurance. I can't keep up!!!!!! If I want to do anything extra, I have to have a roommate and/or a side hustle. I thought about adopting a kid. JUST by adding a kid to my insurance I would be going into the red each month (forget about getting the poor thing food or clothing). I'm very good with my money, but the cost of living keeps LEAPING while my paycheck, at best, is creeping up. The money I have left at the end of each month is always taken away by something (MRI, plumbing issue, etc.).
In your foot I would consider relocation to another country. You are native speaker of english so you could teach it. Just think about it. You could try to go to another country for couple of months and then decide if it's worth it
Great you have your own home.
Husband material here for free, hardworking, good with finances and we can succeed together, very handy. What do you think
Foster a child, then. The kid would have somewhere decent to live and you would get a small stipend for helping out!
@@maxlemusa3520 awesome dude
Let me explain some basic economics to you. If the middle class in 1980 was defined by being able to afford a home and a car or two, and the same "middle class income" today can afford a single car and barely make ends meet on their rent/mortgage; then the latter is not in the middle class.
America is a hellhole
If you compare that too the amount of subscriptions we have these days... Or the amount of ''lazy'' services... Like I live in the Netherlands... We dont even have to go to a bank anymore, we can fix everything on our phone... We dont even have to wait for groceries anymore, we can get them within 10minutes.... My grandparents lived (and worked) on the fields... Like please put it in placement of time.
You say it correctly the middle class is nowadays not anymore the definition of what it was back in the days simply because we have a lot of hidden costs... They either drink a lot or smoke or they have a spotify or netflix or disney+ or amazonprime subscription... Like honestly it is a joke. Get rid of all those hidden costs and you can afford it..
@@tim3440 yes The high living standards the less peace , try spending money for useful things ain't it right? Mr Tim
@@hoonigan1423 WEll that would be my take on it yes. Or at least share stuff... :p Like cme on... You are not obligated to have everything.
@@hermeslein6614 edgy
As a middle class parent myself, biggest pain points are rising costs of housing, child care, and insurance. They are bare minimum needs to live a comfortable life. There should be something done to make those three things affordable without overly distorting the market with regulations and subsidies.
Stimulus checks aren't free.
What insurance? Medical?
@@acommentator69 It's redistributing corp wealth to family
Housing prices are out of control. I couldn’t have moved out of my parents house in this market and I actually had a very decent job right out of high school. The housing prices are literally out of control, something needs to happen
@@ireminmon Ever heard if the Hill-Burton Health Care Act and it's history? If you are an American, then surely you knew what I am saying. As a 94-95 year old I knew all of these things even before you were even born, that is, if you are a young person. But I still insist that your primary school teachers should had taught of such things. Especially the ORIGINAL Social Security System before it was sabotaged in the late 1960s. The list is endless. If you have great-grandparents ask them.
I think another thing contributing that could easily be stopped is corporations buying single family homes and renting them back to people, this pushing up housing prices. This should be made illegal as it just exacerbates wealth inequality and makes life more expensive for everyone for the benefit of the super rich.
As a 60 year old, this all started with Reagan’s trickle down economics, lowering the tax rate for the rich and raising mine and at the same time getting rid of or lowering tax deductions . Then every administration since Reagan continued it in some form or another
Trickle Down is a Myth made up by the left. Has nothing to do with that. This entire video ignore this.
NAFTA caused much of it. Globalization. When jobs go overseas, the $ goes out and doesn’t come back in. Trade imbalance is applying downward pressure. Ridiculous education costs, transportation costs in the form of easy auto credit, and housing increases erode the middle classes ability to survive as more downward pressure is also rooted there.
We didn’t have Mobile Phone Bills, Expensive auto loans 5-6-7 years, and didn’t have $ flushed into CATV/Internet and phone contracts, other subscriptions, software subs, streaming subs. None of that existed.
This isn’t a tax policy issue, it’s a federal/state spending one, and much of it has to do with trade imbalance. Theres no means of production any longer. A nation must produce something of value, or you don’t have a nation. The less we produce the less value we bring to the table.
The societies producing those goods keep their $ inside their world, it never comes back here.
Growth of our Means of Production in any type of assett job will provide upwards pressure on income for middle class, all these issue becomes non issues. Right now the top benefits from the profit saved from sending it to cheap labor market, and all the supply chains needed to get those goods here.
Why this whole concept eludes leftists is beyond comprehension.
@@pn102 Wait. You don't believe in wealth inequality?
@@NN-sp9tu Wait!, you have beliefs or are those just assigned opinions from hive thinkers parroting a false narrative?
@@pn102 There actually exists decades of data to back up the fact that wealth inequality has increased dramatically over time. So anyone who disagrees with you must not be able to think for themselves even if they’re relying on hard data - maybe you don’t understand what evidence is or how it works?
@@NN-sp9tu - facts are pesky things. What good data analysts accept is that all data is flawed and only tells a portion of the picture. What the sociologists know is that what comes after “because” doesn’t matter.The opinion assigners know this also, and use it to attach buzz words to the topic. A tell is when the word “equality” is attached. Theres a good article a few weeks back in the WSJ that discusses how 90% of everything is crap.
Change your frame. It’s 2022. Our understanding of reality is subjective to oneself’s world view. That doesn’t make it so.
Letting speculators buy up homes they clearly don't intend to live in & then jack their prices way up all over the country doesn't help one bit.
That’s literally what this country was founded on doofus. This is destiny manifest.
@@user-hf2dr7sh4y yep. The Fed, centeal banks and global elites at the IMF are the one world government. Debt slavery for the global population is the plan and everything is going smoothly. It's a debt-based slave system. The only solution is sound money and small government. Unfortunately, only a revolution can set us in the right direction
1. Increased population. More competition for resources and jobs.
2. Devaluation of the dollar.
3. Automation
4. College degrees becoming diluted.
5. Increasing COL in cities (goes back to one).
6. Rising costs in manufacturing meant jobs were exported to cheaper wage countries.
7. Pivoting into a more service focused economy instead of manufacturing.
8. Foreign investors squeezing the housing market.
The list can keep going and going. But I think these are the major points.
There is also the refusal of middle class to stop living above their means rather than below which could sustain them.
It's not just foreign real estate investors. Home grown ones are just as bad. My friend works at one. They all call around and raise prices to meet the average every year (not price fixing apparently) , even with high vacancy (40%).
In order words: Overpopulation!
Also employers and companies undervaluing jobs and underpaying staff
Open borders and taking care of illegals costs a lot of money.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe
@@Natalieneptune469 I agree with you. I ventured into stock with less than $100,000, and now I'm about 17,000 short of half a million dollars. Credits to Nicole Ann Sabin . She's verifiable.
@@PhilipMurray251 Thank you! i just looked her up and sent a message hoping she gets back to me.
@@PhilipMurray251 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS
these bot comments are ridiculous bruh
Chantal's story is literally my family's. So frustrating. Working hard to stay two steps ahead but always feeling behind still.
Wouldn't the best option be to move to another country? I get why the rich would stay in America and I get that the poor can't afford to leave, but the middle class seems to still have the opportunity of a better life abroad...
@@moonie8830 that would probably be best for the retired folk or the folk that had a few years / decades of working and can live off the fruits of their labor. Or even just the remote youtubers and such that can work anywhere, so why not a country with a lower cost of living. I dont think thats best advice for someone at the beginning of their career with not a big pool of savings.
Chantel's situation is of her own making. I mean a 400.00 car payment and 280.00 for phone usage? Thats a lot of money. I think people need to live within their means and accept that they can't live these idealized lives with the newest things and expect to come out on top with everything else paid for. Its all priorities. That car payment as well as her and hubbies cell phones could be easily cut in half. I'm not sure if she did any sort of volunteer work but that helps too. I myself am a Veteran and take advantage of all of the options available. I had my bachelors paid off and paid a small amount for my MBA. Yes. The military isn't the idealized life we all dream of sometime but serving your country certainly helped improve my financial situation as well as built character along the way.
@@moonie8830 the grass is not greener just by leaving the country.
@@ishmaeldarjean2757 I have to agree. Mesquite is not a high cost of living area and 100k is a very good income for 2 adults and one child. This is an issue of not having financial literacy and not the best example of the video’s point. She needs to sit down with a financial advisor.
I’m no economist but when housing, good, gas, food, and everything else increase 10-20% and my income only goes up 5% and most jobs require a 4-year degree, which I have and I’m not living lavishly, and I can barely save and invest.
I am in the same boat too I feel your pain
Our economy is becoming extremely inefficient.
That's only a yearly thing, this has happened over decades though. Trick down policies.
Well-off people don't get rich from a good salary, they leverage their debt. Instead of paying your car loan or mortgage off early take that money and invest it in something with a higher return then the interest. Do the same with low interest loans.
@@TheRevolucas So essentially, you're telling people to bet money that isn't really theirs?
I'm a big fan of investing. If you have extra cash, then invest it! The worst that can happen is you lose the money. Which is fine because, well, it wasn't going to anything else anyway. The best is that you make a nice profit.
Investing comes with risks. If that person invests poorly, then their debt will only rack up and put them in a worse position than before. Diversifying helps minimize the risk, but it does not eliminate it. For someone already struggling with money and in debt, taking a loan and investing is NOT the way to go. For the wealthy, I can see that they might have the money already to fall back on should their investments fall through.
Also, people renting and in debt are not able to put a mortgage on their home or obtain a low-interest loan. Your advice just doesn't work here.
As a non-American, I’m critical of the poor design of American cities. Cars are a necessity and thereby big expense!
I’m so glad that majority of Asia has built good public transport so that you don’t have to own and maintain an expensive car. This was a planning blunder by the US
The U.S. has a large population but much of it is spread out. The reason public transport works better in Asia or Europe is because the population density is higher, which makes public transport make sense. This is harder to do when the population is spread out.
i dread owning a car. I wish you could just rent a car instead of own one.
@@TheRelen222 but even the public transport in high dense cities like ny are shot compared to japan and other countries
It was planned. Car manufacturers lobbied. And a lot of (white) people who wanted to leave the city and live in the suburbs when redlining was officially stopped. Redlining (keep black people in certain neighborhoods) continues unofficially to this day and the cars and highways were a big part of that. It's a complex issue, but here's a place to start if you're interested. ruclips.net/video/odF4GSX1y3c/видео.html&ab_channel=Vox
@@c-train3630 You can, it's called leasing.
The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?
I hope everyone has money ready to invest at the appropriate time. Planned actions can help you secure your financial future. You still have the best chance of becoming a millionaire on the stock market.
Biden is not entirely responsible for whatever is going. The economy is cyclical, and things will definitely get better. The first rule of investing is to keep investing, whatever the economy is doing. That is how you make substantial gains.
That's some incredible gains. How do you find a financial advisor? I've been trying to connect with one for some time now, an I don't want to work with hedge funds.
There are many independent advisors to choose from. But I work with Monica Shawn Marti and we've been working together for almost four years and she's fantastic. You could pursue her if she meets your requirements. I agree with her.
Thank you for this. I'll send her an email, and I hope I'm able to make something out of it.
I know this video isn't about urban planning, but I think it illustrates how the zoning policies over the past 70ish years are negatively impacting the middle and lower class. The ridiculous suburban sprawl and car dependent urban planning are contributing to the unaffordability of problem. It's ridiculous that a family, which is already stretched financially, has to bear the burden of two vehicles just so they can have basic mobility and earn an income. This woman can't afford to live in the desirable central neighborhood she grew up in because supply of housing in those areas has been artificially blocked from increasing by local government and FHA policies. Instead the vast majority of housing has been built in the suburbs where it's nearly impossible to provide reasonable transit options. This family is paying $1200/month just to be able to get to work and buy groceries .... a metro pass in most european cities is less than $100/month.
Illistration is goods
Correct. My partner and I couldn't afford to buy a house in the city that we both work in, so we bought a home in a suburb 20 miles away. Since we both commute in at different times, we had to buy a second car which we paid for in cash for $28K. With gas prices now at $4.50 a gallon, we are spending about $80/week on gas alone. I also have to pay $75/month for parking at my workplace. Throw in insurance and maintenance costs, and it's just absolutely insane. Technically we could take public transit, but that would double or even triple our commute times. We usually drive into the city on the weekends as well because we don't have kids and there's nothing to do out here in the burbs.
Peter Calthorpe has an excellent TED Talk on urban planning and how redesigning a city to allow for better public transportation and more walkable areas would not only reduce CO2 emissions but also save a family upwards of $10,000 per year because they would not need a car. I highly recommend checking him out.
So true!
Europe is a lot smaller space for trains and other public transportation to cover and so easier to do.
My rent went up 20% 2 years in a row. That's illegal in most other countries.... even 3rd world countries don't allow that.
They probably have vacancies did you check?
Wow. Note to self: don't ever become a landlord in a 3rd world country.
Do they have vacancies? The average house price is also up 20%... Or better said sometimes the costs are up 20%...
WHy? Because America prints and prints and prints and prints... People live above their means..
lol, we are having it rough in third world countries don't be fooled.
@@Jbkoyi Its hillarious if people consider high housing prices with food shortages or something. Its a joke if people compare it with third world countries.
Feel for you sir.
Middle class in a nutshell.
My parents at 30: bought a 2 family at 230k
Me at 30 : makes more than both my parents. I have two roommates
Literally making just enough to sustain, but never enough to get ahead is the best way to describe it
I feel ya man. But you can achieve. Just may be harder.
I work the same job my mother did. She made $40k with basically and associates degree in the 90s-10s. I make at most $37k with a bachelor's degree. And everything is more expensive.
they used their savings for a combined 50k down payment back then and bought the house. It's well into the million region now since they live in Massachusetts.
I still reside in the state and six-figures doesn't go as far as it used to. You feel safe and stuck at the same time.
@@dedhampster4730 yep my mom went to community college in the late 90s after buying our home and got a job in accounting for a smidge less than 37k, back then 37k would probably equate to middle class, now that's poverty wages. I make almost 100k with a bachelors living near the city and rent and COL is rising faster than my wages.
Yes you said it!! My mom owns a property. The sane property that she put down 3%. Now I am required to put down 20% and 4x the price.
I’m so happy I didn’t sell my home and upgraded years ago. My $700/ month mortgage is less than most of my friends’ rent. I’m going to remodel and stay put out here on the prairie in my little house. Had I still been raising kids, I don’t think we’d make. This solidified me living far beneath my means and a minimalist lifestyle. So thankful I do not have to commute 500 miles a week. The gas cost would crush my budget. My heart goes out to those who aren’t as fortunate.
I gave away so much of my couponing stockpile during COVID. We have to go back to community outreach and help our neighbors. You are seeing ppl being forced to move out with only a moment’s notice. I have never seen so much population growth where I live. The city can’t keep up with the infrastructure needs. We had more four way stop signs than traffic lights. Now, roads are being widen due to traffic from ppl moving out here. Greed is fueling this foolishness.
One thing to remember is on the outside a middle class family might look to be doing well, but behind the scenes they may be pay check to pay check buried in debt
Then get on a budget. The only excuse for that is an emergency. You are not entitled to new cars, a bigger house, new furniture etc...because you want it but can't afford it..
@@staceystrukel1917 exactly, only for emergency reason. But the last two decades I've noticed most people are on debts and buying stuff , when they really can't afford
@@staceystrukel1917 absolutely. Most people are brainwashed by marketing and consumerism. My motto is, live below your means, and that is what I instilled into my children.
It brings immense peace, joy and contentment knowing that I don’t have crippling debts, for mainly useless consumer goods.
This principle has allowed me to take early retirement and have time to myself whilst I’m still relatively young and healthy.
It is a mystery to me how so many working class people have been duped into believing that unions are bad for them. What has this gotten the working class? 40 years of stagnant wages and declining benefits while corporate profits, executive compensation and the stock market have soared.
a corporate talking point bot just replied to your comment lmao
Unions are bad for workers, why else would they refuse to join them? More often than not, they don't represent their interest and mess up their income by interfering with their voluntary work schedule. Who would like them?
It's not hard... Use a wedge to drive division between workers.
@@cheechenc7260 😂100%
@Yummy Spaghetti Noodles you know why you don’t make much to begin with ? Because you’re non unionized. You let executives/upper mgmts/owners get away with living like a king while paying their workers the bare minimum within no PTO. That way of thinking is exactly what they want you to think like and have been brain washing people for years. Why do you think big companies use millions for union busting?
I would say the number one reason that the middle class is disappearing is the cost of housing. In 1953, my parents bought our house for $19,000. The mortgage payment took less that 25% of my dad's check. Now, with so much investing and speculation in real estate, its common for people to spend over 50% of their pay to cover a mortgage or rent.
Cost of housing is increasing so much because the demand is too high in relation to how fast they can build them; illegal immigrants is the major problem here...not sure if you’re aware but an estimated 184,238 illegal immigrants came through the southern border just in December alone
And that number is from a report from the CBP
@@User18dog It's not even just illegal immigrants. Wealthy Chinese people are buying houses in California, which allows people to move from California and buy more expensive houses elsewhere
@@User18dog Also, developers have intentionally shrunk the amount of new housing built each year since the Great Recession. They want their values to stay high so they are artificially limiting the housing stock to raise demand and keep prices up.
My grandparents paid a little over $8000 to have their home built in the 1950s. It was affordable for them but now home ownership is unattainable for most. Luckily I bought my house when I was 25 so I don’t have to worry about purchasing at todays prices. Houses in my area are going up for $500,000-$800,000. I’m wondering who’s buying these homes when just 5 years ago the same homes were 250 -400 thousand.
I would love a part 2 to this with what we need to be doing to change this problem? I’ve heard the same concern about the rich getting richer and the CEO and shareholders (etc.) hoarding the bulk of the profits and not passing them along to workers since I entered the work force 25 years ago. It’s just getting worse and worse. As a single person who has worked in the non-profit sector my entire career and still has a loan from my MA to pay off, there’s not much I can put toward retirement. It’s getting pretty scary to think about.
You're not going to get the part 2 because it means recognizing that there is no political solution to it. The solution involves removing money from politics, which probably means civil war and a good chunk of your ruling class going to prison.
A big issue in Nashville are corporations out bidding families on homes so they can rent them. Entire neighborhoods with people renting homes at outrageous prices.
Its a travesty. They absolutely should not be allowed to compete in the housing market. You see the same thing happening with Airbnb. a few corporations are getting into the market and own all the airbnbs making pricing go up and increasing scarcity.
America is greedy… oooops great
I should have moved to Nashville when my sister did in 2008. She bought a condo in Brentwood for $150k. Now her condo is worth $400k. It’s crazy!!
@@xv9021 it’s a MONOPOLY
This happened because we didn't take "The Rent is Too Damn High" guy seriously
rent : is too damn high! .....proceeds to rap the whole speech in 30 seconds
GFC, so they made it so you had to basically prove you had enough money to just straight up buy a house out of pocket if you wanted to borrow, rather than doing a damn thing to prevent another GFC. And now we know that bankers will just invent new things like bitcoin and NFTs to lose money on.
We'll pay the rent when they FIX THE DAMN DOOR!!
I remember that guy! 😂
I’m really terrified of debt. It’s definitely holding me down in the working class. Can’t be the alone one with this opinion.
Fear is the mark of intelligence. If you don't agree, observe the fools with tens of thousands of dollars in accruing debt for a degree that is not: medicine, law, or engineering. You're doing fine. You want more? Get a second job, or start a small business and grow. Most large companies and wealthy individuals existing today began during the last Great Depression, in their kitchen and or garage, think about that.
@@alancastaneda8322 some true wisdom!!!
Then make a budget. Learn about minimalism and spend less than you earn. Learn to invest (HSA en ROTH) and stop keeping up with the Jonesses...
Do everything you can to get some money saved up to invest. That has been the only thing that has saved my overall worth through all my terrible jobs and underemployment and unemployment over the last 6 years and not having a job through the pandemic.
@@CelesteAnise investments are definitely a wise decision.
Cliff Notes: Middle class is shrinking because the gov’t has been literally sucking the life out of it for the past several decades.
No. That’s what they want you to believe.
It’s the people that control the government, who is sucking it dry. Who is that? The oligarchs. The super super ridiculously wealthy. That’s who.
Transfer of wealth via lobbyists and the government.
It’s a big club, and we aren’t invited.
There is no "the government" that exists apart from wealthy and corporate donors that throw money at it so that it does what they want. So the problem isn't the government. It's the people who have captured it and turned it into an arm of private financial interest.
Brilliant to charge self employed 15% tax, then wonder why all the retail vacancies, too
I’m an Italian and I lived in several cities here in Italy and I was astonished by the number of Americans I have met in my country! Italy is well known for being ABSOLUTELY NOT IN A good economic/financial/ jobs situation. So it amazed me to see so many Americans moving here (forever!) cause I always thought “why would you leave an amazing country like the USA?”. I always asked this question and the answer was pretty much the same: they said the situation is out of control and that in Italy life might not be easier but at least it is way enjoyable and that the American dream is utopia. I have always dreamt about moving to the USA for better opportunities but when I said that basically all the American friends here in Italy told me to look somewhere else… 😔😔 it’s sad
Haha....
When the "American Dream" becomes "Living in another country because America is getting bad."
Its funny and sad.
I would still say it is good here in the US. People come here and are still making it. They find a way. We have very low unemployment rate. If you have a talent you will do fine. And inflation is high everywhere at the moment. I wish you the best.
@@glen4326 low unemployment rate? Not everyone have talent you know . Only us and eu where inflation is high
@@longhai6458 This goes beyond recent inflation hikes. Everybody in the middle classes are being ripped off. Across the world. Only Corporations are making serious money. This is structural and has been happening since the 1980s. Unions dismantled and workers rights eroded. Hell at least we have healthcare in Europe still. In america it can't be right you could be bankrupt if you get ill.
I will say it depends on what you do, and don’t live above your means.
I feel like the middle-class is not gone, it's just forgotten. My fam is considered middle-class but I grew up not even having healthcare. Our family made just a bit too much to qualify for Obamacare benefits, but not enough to afford other decent healthcare so we would have no choice but to pay for the Obamacare penalty fee (we live in California). Everybody creates services for low-income and think that the middle class is just comfortable when the truth is we too are also living paycheck to paycheck. The definition of "middle-class" has changed over the years, especially if you live in expensive areas like the Bay Area.
@@ilsa_xo I totally agree with both of you. I don't even know who to vote for anymore, since they try to either cater to the extremely rich or extremely poor. It's easier to build a platform on extreme views, especially when they can just sell the middle class on other points which are more ... ideological
surprise, you’re not as middle class as you think. you’re just not in poverty.
My man, thats called identity politics. Cause if everyone realizes they are only “middle-class” by name but not in real life. The current system will stop existing over night
@Brett Because I come from a family of nurses and California is the highest paying state for nursing, including really great benefits.
@Pork n jeans that's true to some extent (for a particular group of politicians that call themselves republican but are actually for classical liberalism) where I live but it is hard for them to get elected. Also my CNN only tells me if something is a cat or a non-cat en.wikipedia.org/wiki/Convolutional_neural_network
I think your cnn is projecting over here, here you can have it back. I don't want the features learned from yours. It seems to be underfitting like crazy
CNBC Asks: What happened to the middle class?
Me: I can tell you without watching the video. Wages haven't risen with inflation or the cost of living, essential items like food & utilities have skyrocketed in cost, & we don't even have a basic healthcare policy in the USA where if you're sick you'll be OK & not have to deal with "OUT OF NETWORK" Costs for your health. The cost of living is too expensive in the USA & it's nearly impossible to get help because of costs & lack of finances. We're so screwed...
Mexico doesn't have a big middle class despite having public healthcare. The sexual revolution, NAFTA and the outsourcing of many factories to China, Mexico, Brazil,India and Vietnam are the main reason behind wage's stagnation. Having some protectionist laws help to keep factories and jobs inside your country.
Yeah, can't figure out why that would be. I wonder if it's the constant flood of immigration or the fact that there are more women in the workforce than ever before. It's almost like more people chasing the same jobs creates more competition for said job and therefore an over-supply of labor and what happens when there is an over-supply? You guessed it: The value of that things falls.
The cost of living IS NOT expensive in the US. It's expensive when you want to live in the god damn heart of a major city.
@@batpoolzilla3200 simply put" we never should have allowed nixon to buy china a coke.
Again, please research economic inequality and Robert Reich-John in Texas
It needs ti be illegal fir specialists to not TELL YOU their costs before. Insurance pays for less and our dumb a** still pays MORE.
I am not afraid to die, because I know I will go on to a place where money and greed doesn't exist, and everyone can be equal. Money is all that matters here, and wealth is the one thing you can't take with you when you die. I've never been impressed by materialistic people. Only disgusted. The only thing that will matter on the other side is what you have in your heart, how you treated others, and the deeds you did. Love is the true wealth. And evil people will get what they deserve in the end.
She is right. I grew up in Huntington Beach CA and none of the kids that went to my high school stayed there. So all the natives left and those not from the area moved in. Fortunately my parents still live in the same house but I can’t believe it’s now worth over $500k more than what they bought it for.
OC is crazy right now. Even an average house in Westminster is 900k right now.
@@Tv71440 Best believe the OC/LA IS worth it, when areas like Scottsdale, AZ (bad weather 1/2 the year, no beach) now have 1990 starter homes that were under $200k then go for $1.1M, barely any cheaper than being in California.
The costs and inflation is what has eroded away middle-class and the purchasing power that you once had compared to today..
It' is estimated that lets say back in the 80's you might have had 30-40% of your household income go toward mortgage for a house as an example. Today it could be up to 60% of peoples income.
So you might earn a middle class income. But the value of it is basically gone.
Think about it. In the 50's and 60's a man ALONE could be the sole breadwinner of the family have a house work in some office job or even in car manufacturing or sales etc and pay for all the bills and the wife stayed at home with the 2.0 kids. Today with BOTH the woman and the man in the house working and both earning "middle class" wages, they can barely afford to buy a house.
The cost of a house that was 150,000 dollars some 15 years ago is now 550,000 dollars just 15 years later.. That is an insane increase in cost. Imagine the mortgage cost difference if you bought it back then or today.
There are still many one income households today. Also, the standard of living was much lower back then. If you agree to live to a lower standard of living (like back then) you can live with one income.
In 1992, a 2 bedroom apartment where my parents use to live cost $92,000 and can be easily bought by someone on median income. Today, 2 bedroom apartments like those can cost between $500,000 to $950,000 and most folks on median incomes have to save for years, or pool deposits together, or ask their parents for help just to buy a home.
Don't leave out the fact of all the jobs lost overseas.
Yes, and it is three weeks' pay from a full-time job for one month's rent for many of us.
Inflation? 30 years ago a descent TV easily cost 400 dollars. Today, likely it's 300 dollar. Same with most of the household items. The high cost of housing that created the havoc is due to shameless uncontrolled greed and speculation by the MBAs.
Middle class here.... sold the "middle class lifestyle house" and bought a tiny condo (not in a big city), no credit card debt, 4 cars but one tiny car payment between me, my spouse, and 2 college age sons. We definitely feel the squeeze between cell phone bills, internet, groceries, helping them pay for college as best we can, and INSURANCE. ANYONE else feel insurance poor? And did I mention TAXED TO DEATH!
We don't do big vacations (maybe a long weekend in driving distance), we aren't "shoppers." We don't go out for expensive dinners. We try to live below our means. You wouldn't consider us rich by any means. I am thankful we are blessed the way we are but, the "middle class" debt is out of control. I honestly don't know people can afford housing. It is so expensive here! Everything is so much more expensive! I'd say the vast majority of middle class is barely hanging on.
You have too many cars.
@@geoffreyharris5931 your right in asia more middleclass have no car..
@@carloconopio6513 America is different from Asian countries. Cities are set up so people depend on having a car. Buildings are spread out and many cities don't have reliable public transportation. Jobs even ask candidates if they have reliable transportation, and may passed over candidates who don't have one. So OP has a 4 person family with 2 college aged kids. Although in places like Asian countries, it seems excessive, for her and her family, it may be necessary to get things done because she and her spouse need to go to work and her sons need to go to their classes. Most college students also work at least part-time, so if they have a job, they also need transport for that. Ideally, cars would be optional, because they are such an expensive burden, but the American lifestyle requires them.
@@carloconopio6513 In my country (in Asia), most middle class families have at least one car. I'm a medical doctor but I don't have a car (though I can afford one), I just ride public transportation to go to hospitals and clinics. Been used to it since childhood anyway.
I can relate, based on my income alone, I'm consider upper middle class and I still feel the squeeze. Question for you.... why so many cars?
You cannot put any "loyalty" into a company. The only way to get a decent raise is to move to another company and negotiate the amount you want. It's not personal - it's business. You cannot be afraid to leave a company to get what you want, what you need to live "your" happy life. The days of working a career at one company are gone.
Everyone who works for a living is working class. The ones that done are the ruling class. They divide the working class into other classes to divide and rule them. Stand together with you fellow working class people.
That's why We, the ruling class, need to seed more dividers like lgbt, political, racial ideologies, etc. into the society. There will be armies of pro- and anti- among the working class, they'll forget about their real enemy and growing wealth gap. Even if those ideologies won't work, who cares? Divide and conquer, that's our motto!
@@allykid4720 that’s what I’ve been preaching as well. Stop yellow dog voting!!! Voting for a representative because of your race is got to be the stupidest logic. Politicians don’t care about us, they just like power.
Yep, exactly right, in fact the term “Middle class” was popularised in the 1950’s to describe the rising standard of living for the current generation of working class who didn’t like the stigma of that term.
If you trade your labour for a wage you are working class. Doesn’t matter if you make 25k a year or 125k.
Sorry can't do it Too distracted by racism
lol no.
The biggest thing to take away is the rich going up 19% and middle class going down 19% in wealth. The rich and shareholders have been taking more profits since the 50’s and not giving wage increases to the ones making them all that money. Not to mention the rising housing and college costs when income barely goes up at all. That is 99% of the reason.
If you are a blue collar worker working for Amazon in the warehouse they work you like a slave but an engineer could earn 360,000 for Amazon.Then you have mommy and daddy paying for their kids college so they do not have to work now that caught up to them.Jobs are going to the wayside this is why Musk is involved with the ibot.
You're cattle.
They could care less if you lived or died
Exactly. Trickle down economics doesn't work. If I was a rich person with a business why would I give more money to employees? Look at Jeff Bezos going to freaking space off the back of his low paid workers. Housing is a huge issue, in Australia people are throwing $1 million at houses because of low rates. Now the central bank needs to raise rates to combat inflation.
Greed at its finest.
@@Spacemonkeymojo Bozo the clown that tried to win against Musk.Bozo is a brilliant man but musk is a genius no comparison.Go tesla
So thankful my parents decided to help me and my brother get us houses instead of getting us into colleges. They paid for half our house and we paid the other half which became super affordable for us since we live in a cheap small town out of the city. But I still wouldn't be able to live in my house on my own wage alone so luckily my fiancé has been living with me and covering expenses. We pretty much just make it by with enough money to do something fun once in a while. I couldn't imagine trying to have kids though, then we would never keep up. It sucks our generation is trying to be young adults in such a messed up economy right now.
Yeah, I agree with you in it being hard to imagine having children right now. It’s the last thing on my mind when you can barely afford to put a roof over your head and food on your table and clothes on your back. Now you have to have a little one to also worry about providing those things for? I can’t imagine it. And then the government worries that we’re not having enough children. Gee I wonder why🙄
‘Gypsy’ is not the correct title. ‘Suburban warrior’ more like.
I lived out of a backpack in 4 states with barely a dime to my name.
Suffering is an illusion: you should innately know this, gypsy.
I finally settled in a trailer park because I have a child. We survive with only getting by on less than $20,000/ year.
You’re gonna be ok. But don’t have kids if you equate material objects and the mighty dollar bill with love. God provides when no one else will. ❤️✌️
@@MayTheOddsBeInYourFavor swallow your pride- are you too proud to ask for help? I have not had to pay for clothes for myself and or my son in a long time: thanks to the goodness of others and shoving my ego aside.
I grew up in an affluent suburban city and shared many of the same myopic views as yours- until becoming homeless in 08 and having to survive in one of the worst ghettos of Detroit, was a beautiful wake-up call. Praise be those with street knowledge. We can survive any cataclysm, by the grace of God.
@@IIXxx_juliet_xxXII wow. I'm sorry that had to happen to you, but if you can't see that parents begging for clothes and supplies for their children is dangerous and wrong and you see it as "pride" parents need to get over, then you really are missing the whole point.
@@IIXxx_juliet_xxXII some people don't have anyone else. I guess they're just prideful too, right?
Expenses have increased 8X since 1977.
Wages have increased 4X since 1977.
It is literally 2X as hard to afford a lifestyle today than it was 50 years ago.
No it's literally not
Apartment rent, auto leasing, no pensions...I feel real bad for the younger generation who will own nothing in their lifetime.
💯
You will own nothing, and you will be happy
@@Demopans5990 yep. The great reset.
I remember when $10 was expensive for a meal. Nowadays a combo runs for $20 easily
Hello yes inflation exists
@@csmlyly5736 Thanks, Federal Reserve
shop and prepare own food - stretches dollars and improves your health - combos will sicken you. Designed to make u think you are saving time - a farce.
@@rocqitmon it's just as expensive buying ingredients to cook now as is it to eat out. You get fkd at the check out either way
I think you are all missing the point that demand drives prices upward. If you would all stop trying to buy food every day like you need it or the world will end then prices might have a chance to go back down.
Who are we kidding? If you don't have a net worth more than 300k and a emergency saving for 6 months, you are not a middle-class, period (mic dropped.)
Lol, there are a very small number of folks who have those things. I am a millennial, and I don't know anyone that has savings that could last them 6 months. I just started my career in software engineering, and while i make a good salary, it will take me several years (at least) to save up and have savings that could last 6 months
Edit: correction, i do not know anyone my age that has these things. I do however know some gen X folks that do have this kind of money
@@MusicGameFinatic999 I have about $220k+ NW at 27 years old. Senior mechanical engineer in Midwest
@@MusicGameFinatic999 I'm 36 with two kids. 2M net worth, 6 yrs of saved expenses and I started off as a security guard with no fancy degree. No, I didn't "invest" in cryptos or WSB FDs. A young coder can easily be where I am today in 5 years (less, if you are a dual income couple) if he/she know how to handle the money.
@@lastempire7302 what is your profession?
@@Bwize716 I'm just a regular 9-5er making no more than 70k (excluding investment income of course)
I don't have $100 to cover any cost. It's sad. This country is sad.
Greed is taking the middle class out. The middle-class is always one step away from living in a box down by the river
I'm old.Very old. IMO the definition of what middle class is has changed. I grew up in what people in my area considered middle class, even upper middle class. The concept that my parents would send me to college didn't exist. No one talked about going to college. Out of high school I went into the Army to get college paid for. My brother and sister went to work out of high school.
Many men went into trades and blue collar work. It was acceptable and respected. Today ask any young woman what kind of man they look for and many will say "professional". Men working in trades are not seen as desirable. Doctor and lawyer is kind of the bottom limit which seems insane. But falling marriage rates are showing the result.
Man and women when I was young worked together to create a life together. Today we compete with each other because we're "equal".
We didn't have a cable TV, smartphone and internet bill. Going out to eat several times a week or ordering food in was almost never done. Going to the movies was rare and a big event. Covid has actually turned back the clock on this. Americans were spending so much just on eating out that when covid dialed back on that spending Americans started buying things for their homes. That's much more how money was spent 50 years ago...improving their homes which improved their lives. Today we spend on eating food we know isn't good for us. The diabetes rate shows this.
The biggest change is productivity. I was a software engineer and I often worked 60+ hours per week. But when working there were almost no distractions. There was no internet. No smartphone to check. No social media. No Netflix, RUclips, cable TV. We had TV 3 channels, that's it. Oh, and radio. So when I worked I was focused on the work. When the internet started to become popular my productivity crashed. Look at me right now wasting my life writing a comment no one will read. It's addictive. We don't really measure productivity correctly. If we just divide production by number of workers or hours it includes all the tech added to increase production. But the worker's part isn't always measured. I think that has fallen off a cliff. If I go into a store the workers are on smartphones oblivious to customers coming in and leaving. When I see office workers it's the same.
The bar has changed. Today a poor American lives better than a King in Mesopotamia did. Wealth is relative. We feel poor or rich depending on who is living around us. IMO these income numbers and such server to make people think they've poor because they love that message. They can blame others for their state. And the media loves this because they can keep feeding this message, keeping those eyeballs and ad dollars. In that way nothing has changed. Media always controlled the masses.
I somewhat disagree with the conclusion you're making, but I think the point of "what is middle class" changing is really poignant.
I read this. I agree
But i’m here, in the middle of Siberia, already reading it, just seconds after you have finished writing it. Ain’t it a miracle? Thank you for sharing your experience. Distractions and addiction are truly horrible internet side effects.
I'm not American, I don't live in the US but I have been visiting the States anualy and I agree, Americans have no idea how life is abroad. I remember a video of Doug DeMuro, he reviewed a Mitsubishi that is (were) the cheapest car in America. He said the car is garbage and made fun of that. A brand new car, with air conditioning, automatic transmission that a blue color worker can buy in cash in a couple of monthly salary. This is a thing that only happens in America, anywhere in the world it's impossible!
A lot of stuff you said especially in your first statement is all what’s considered boomer mentality. And rightly so, boomer companies like GM, ford etc are getting killed when it comes to talent acquisition. My point is everything evolves. People have to keep up with the pace. This woman in the video spends so unwisely and yet demands to be able to live in downtown Dallas. They spend $800 combined for two cars. Financial knowledge 101 is lacking there and of course her family is going to remain in the same level. Unless people learn to invest, especially when they don’t have skills in demand they’re going to get eaten up.
To be honest, she's got a pretty bad budgeting issue. $280/month for a phone bill? Even for two people, that could easily be cut by more than half. $800/month for two car payments? Buying two new cars with high payments at the same time is a bad decision. $400/month for car insurance? That's crazy high as well. She says she budgets to the dollar, but clearly not.
100% this. She could be so much more free if she didn't need the latest and greatest phone (no reason for it to be so high), and car payments can easily be under $500 for 2 cars if you're shopping for older vehicles. Money goes a long way when you're smart with it. We have a total of 4 cars, all paid off and the insurance is $682 for all 4 for 6 months ($114/month). Choose what you spend your money in wisely and you will be golden.
Y’all making some wild assumptions
I was thinking the same thing! Not mention her student loan or personal debt! Geesh!!
Justin, I was thinking the exact same thing. She could get rid of one car payment and get a used car. $280 for cell phones is really high. $400-500 a month for groceries, for a family of 3? I got a family of 4 and can spend the same. she could easily add to her savings, $500 a month. I live in the DC area and even the rental prices she mentioned seemed really cheap to me. The Pandemic has taught me one thing positive. Save. Stop buying stuff you don’t need. I who never saved before, but have banked a lot in 2 years. And I will never go back to doing it the old way. Never.
Her phone isn't too bad. At most, she can save 100 dollars. Unless you paid cash, 800 is just 2 20k cars financed for 4 years. Cars are just expensive. 400 dollar insurance, idk I have two paid off cars on my insurance and it's 200. When I was 25, my insurance was 350 for one car
I kinda like this channel. Thanks for making videos that are actually relevant to people's lives. ❤ 🎉
I heard 80% of Americans live paycheck to paycheck, 70% of all U.S. workers make less than $50k per year, and only 7% of all U.S. workers are in unions, plus with massive college debt. So then how is it that 59% of people today are in the middle class, same as in 1985? Someone is lying here.
Of course it's big fat lie. The problem with modern economics is ideological so it doesn't emphasize on issues such as homelessness, higher educational costs, Healthcare and poverty.
Because the concept of middle class is poorly defined. Go ahead and try to describe what exactly makes somebody middle class. Can't do it based off income because obviously cost of living is highly variable based on location. Can't do lifestyle because that too is so variable (ie living beyond means vs frugal lifestyle). So if it's hard to define then the polling and statistics becomes very fuzzy.
Middle Class is something hard to define. When I was in business school one of my professors told me that the definition of middle class keeps changing. It depends with how one sees himself or herself. For instance, someone that has college degree qualifies to be in the middle class owing to his level of education even though he may not be having a well paying job . Someone that has a job and therefore able to get credit cards to purchase what he needs is seen to be in middle class. Middle class can represent a lot of stuff... Of course people in the middle also struggle a lot but they base their satisfaction on aspirations. Even their spending habits are based on aspirations
There is no such thing as a "standard middle class" for a country as large as the US. Cities like Miami, LA, NY, you need tens of thousands more a year to be considered middle class, vs western Ohio or some small town in Utah. The other problem is the image of what middle class is. Today, people envision two cars, a 2500 square foot home, electronics all over the place and a couple nice vacations a year as middle class. That used to be considered upper class.
If you only have $400 in the bank you are not middle class.
Our wages have been stagnant for decades, the costs of housing and healthcare have steadily risen , millions of good jobs have been exported and government monetary policies have destroyed the dollar.
That’s what central banks do, it’s policy
It only gets worse until money is removed from politics. There's nobody to vote for.
Speaking out of both sides of its mouth: The size of the middle class hasn't changed, they're just "squeezed." If income is the same but costs for everything goes up, then on relative terms, hasn't income gone down?
Exactly. If you did not receive a cost of living increase this year, you just took a pay cut.
🎯
Right. The small group of people making 300k per household each year are the new middle class. It is too much of a tough pill to swallow I suppose to say those that were formerly middle class are now decidedly wirking class.
Yes it had gone down actually
$800 in car payments a month is killing that family. $280 for phones is right behind that. They make enough and are middle class - they are spending more than they need to and not saving enough.
You judge a country's wealth by the health of its middle class and how their poor has acess to upward mobility not gdp.
Thank you
The main source of your problem is that you have a hidden Oligarchial Fascism as a government masquerading as a U.S Constitutional Republic.
I really appreciate CNBC doing videos like these that highlight the problems facing average Americans. As a young person, I'm well-aware that the economic landscape I'm facing is a lot more challenging and, quite frankly, harsher than what it was 40 or so years ago. When (real) incomes stagnate but the cost of living continues rising, of course it's harder to maintain a middle-class lifestyle. What really astounds me, however, is how large the gap between productivity and compensation has grown. We should all be living better than we actually are. Honestly, if America keeps heading down this path, things will only continue to get uglier...
Other than do a video, what has been changed. It has been a topic for decades, nothing has been changed. Want politicians to do something about it, Lol. They finish their terms and make enough money then they will be disappear. Just think about it, there is no long term thinking or any strategy in this country…….
Productivity has grown due to investment in mechanization mechanization. There is less skill needed to operate machinery now.. Therefore the Demand for skilled labor has reduced.
Yeah thats the problem with the US dollar, is inflation. We need a deflationary currency. Not inflationary.
I liked this video as well. My daughter is almost 30 and I'm 50 and she's having a way tougher time than I did at her age. She makes a little more than I did at 30 but could never afford to buy the house I bought at her age. . She's living at home and working to pay off student debt and save up money and is in a pretty good position but that's because she's living here. It's so hard for young people and ignorant people my age and older just don't understand that. Some of us make it worse. And let's not even talk about all the middle class folks using credit and debt just to stay middle class.
@@pisces031372aj I'm 22 myself and living at home b/c rent in my city is so expensive. Also have to pay down student debt, just like your daughter. I'd rather pay it down faster and buy a home someday, I hope anyways. I appreciate your understanding, a lot of older folks only have condescension for younger people.
Paying $1200 a month for 2 cars, this is insane...
Yep, yet many people don't want to take accountability for those choices. LOL
And $280 a month on a phone bill.... for most likely 2 people...
@@NoOne-gp5hz I use Mint Mobile. My phone cost me $10 a month, but I had to prepay for six months and use an older phone I already owned.
@@danieldaniels7571 My wife and I use Mint as well on our iPhone 13s. T-Mobile network, $40/month total.
It's not cheap to impress others
From what I’ve realized after living in America for the past 20 years, it’s doesn’t appear that neither political party actually caters to the middle class.
Both parties have little interest in helping out main street America. This is the reality in a nation where both parties are in cahoots with oligarchs and big corporations purposely creating reccuring structural debts and print money up in order to socialise their manufactured losses and failures at the expense of devaluing Main Street America's earnings.
Fair would be creating less income inequality through means of a tax burden shared broadly across the citizenry like they do in some other very rich some countries that have civil-like oligarchies even where oligarchs have covertly deployed their resources and pay and even get subsidized for it in a similar manner as they do in the US. Of course they have the advantage of multiple parties and laws that provide all competing parties allocated free broadcasting. Also progressive folk on both sides of their political spectrum don't have to congregate under one of two large parties to be heard like folk feel they have to in the US. Unfortunately in the US, the two parties make the rules that prevents thirds parties to fare well.
Im 18 years old and I remember when I was in middle school how 75 dollars would get you a full cart of groceries and now a full cart is almost 200 dollars it’s astonishing how In a six year time span its increased this much
It's not even the last six years. Two years ago, I could come home with three or four bags of groceries for about $60-65. My last trip to the store, I came home with the same number of bags, didn't buy anything fancy or extravagant, and paid $104.
Aldi and Costco.
"The middle class isn't shrinking" we also haven't adjusted income for cost of living
The pure reason for this are wages being stagnant but inflation keeps rising in all sorts of places. Wages need to be scaled up as inflation rises to account for this. There's a reason why there's always record-breaking stuff related to money, but at the same time poverty keeps increasing.
This exactly. Our pay barely keeps up with inflation so in real terms it’s stagnating.
agree
You can thank globalization for that. So many of jobs that used to be done domestically are outsourced. We're competing worldwide now, so get ready to live a worldwide standard of living (hint: it's quite lower than what you'd want).
If wages are raised then corporations will triple the prices of everything, it's and endless loop that can only be stopped by the government
I bought my home in June 2009, during the housing crisis and when the government was offering stimulus for homebuyers. I had no desire to be a homeowner, but my father (rip) made it his mission to make sure both of his children had a mortgage by the end of 2009. He and my mother gifted each of us $5k for the FHA loan down payment. We got $3k from Uncle Sam just for buying a house (i bought a fridge, washer and dryer with the money).
Sometimes I didn’t like my dad for rushing us into home ownership. I wasn’t ready. A house is a lot of responsibility and most times the budget was tight - especially in those first 5 years. Large home repairs were a crisis, but I’ve made it through. I see now why my father saw it was a great time to buy and how important owning a home is as opposed to renting. My home’s value has doubled in those 13 years and my PITI is still $1200. That’s what I am required to pay, but I pay more and should have this mortgage paid off in 4 years. 13 years earlier than scheduled.