By the time people wake up from this slumber there will be no middle class. The propaganda on the media tries to program people to feel guilty about having affordable quality education, access to healthcare, and the ability to purchase a home without going into hock for the rest of their lives. Apparently what was once considered staples of the middle class is now washed away in the honor of "global competition" while major financial institutions are protected under the shield of government welfare and major paydays for CEOs. Austerity for you and social welfare for those who know how to work the system. As the net worth data highlights, not everyone is hurting from this new austerity world.
How to lose 40 percent of your net worth in 3 years – Americans see their net worth collapse during the recession. Federal Reserve survey highlights a case of austerity for the masses and social welfare for the politically connected.
June 12, 2012 | MyBudget360