Continued Notes on the Declining Middle Class

Jobs are being lost everyday due to the decrease in spending. Foreclosures are continuing and unemployment is rising due to low consumer spending. People are not able to "spend" as they are paying too much for the basic necessities of life such as housing, food and medical expenses. Many are loosing their homes and medical insurance as I write this and the homeless population continues to grow. Over the past twenty years there has been a constant increase in the population of the homeless in this country. The economy is fueled from the bottom up and not from the top down. The rich will only get richer and the poor will get poorer with this upside down way of conducting business in this country. Necessities need to cost what everyone can afford.

Notes on the Declining Middle Class

Money and Corporations have a stranglehold on the public. Insurance companies and banks have total control of the people's financial behavior. When everyone survives by living in constant debt due to the high cost of necessities such as housing, utilities, insurance and health care, they are doomed to pay the high interest on debt for their lifetime. Just 30 years ago the people could pay off their debts long before retirement, and 20 years ago "homelessness" was rare. If living on credit were nonexistent, everything would be affordable. A lot of people are paying as much as 75% (25% is acceptable) of their income on housing alone.

The high population of homelessness can never be an accurate count as there are many homeless (formerly of the middle class) who live in their car, RV or boat out of necessity. They don't want to call attention to their plight.

The banks are paying low interest on savings and charging high interest on loans. The bank executives are receiving obscene bonuses.