Friday, November 02, 2012
http://www.theatlantic.com/business/archive/2012/10/the-hideous-inequality-exposed-by-hurricane-sandy/264337/#.UJQ2jY2Fbn9.facebook / .................. This 30 year trend will take a long time to reverse. It's amazing that so many can't see that the high cost of living (i.e., Necessities: housing, medical, insurance and food) is what is killing the economy. Prices go up and salaries stay down or go down. No disposable income for the majority = economic disaster. "New census data shows that the city is the most economically divided it has been in a decade, according to the New York Times. As has occurred across the country, the rich are getting richer and the poor are getting poorer. Twenty-one percent of the city is in poverty, and the median household income decreased by $821 annually. Per the Times: "Median income for the lowest fifth was $8,844, down $463 from 2010. For the highest, it was $223,285, up $1,919."
Wednesday, July 04, 2012
>>>>>>>>>>>> The bottom line is no one has disposable income when they are paying all their income for Housing, Insurance, Medical Care and recently, food. The housing market did go south, however, is still unaffordable for many. Hence the Middle Class is the New Poor and the Homeless are a new culture in America. The homeless population exploded in the 80's and continued it's growth to families with children for the past 30 years (before Obama). In the past Middle Class families contributed to the economy by buying food and clothing, household items, cars and little luxuries. Now they are now using food banks and food stamps. The lower income people are now homeless or living in vans or cars and don't buy anything, except gas (even if they are working). The Middle Class and the poor were major contributors to a healthy economy. The economy can't and will never improve if small businesses and big businesses have lost business from the majority of the population. Jobs cannot be created unless people have more disposable income to buy goods and services.