Middle class is shrinking in 9 out of 10 major big city areas

The middle class is shrinking in 9 out of 10 major metropolitan areas in the US.

Wealth Divides (arcgis.com)

That means middle class opportunities will increasingly not be found in big city areas.

Why might this be happening? I speculate increasing housing costs. (and that probably caused by rising population) This subtracts from people's effective incomes, so even if they have reasonably high incomes by the standards of other parts of the country, they are still "housing poor".

 

cause corporate greed is outsourcing jobs overseas, to places like India

greedy Corporatism is destroying Capitalism

add that with higher housing costs, yep, the end of the middle class

 

I have to believe you enjoy getting sucked into propaganda.

No, it's caused by the Departments of Housing & Urban Development and Transportation.

 

I sometimes wonder why (SOME OF YOU POSTERS) continue to act surprised, or even ask why things continue to happen when it has been explained ad nauseum here for a few years now.
1972 -Off of Gold standard
1982 - Reduce 1%ers tax from 80% to 35%
1985 - Take out of Union by Reagan and supply side Lying economic by Art Laffer
1988 - Bush doesnt put back the temporary tax cuts to the wealthy Reagan had issued. Causing America to start borrowing to pay its bills vs taking from the rich upper class. At same time we deregulate wallstreet and Banks allowing them to do anything.
1992 - Clinton blaances budget by taking everything away and we call it good. At same time economy is good because there is little tax on people, yet payscale continues to fall for all people except 1% People dont notice it as much because we allow corps to leave the country and mfg. same products made by Americans with great wage and benefits for 10c on the dollar lowering prices.
1998- same things continue yet we continue to borrow more money to pay bills stating we will SOON pay it all back. Each new Congress takeover by right or left make same promises of "more money now, pay bills later) each time stimulation of economy that returns less each time for the amount borrow.
2000 tech bubble and 401ks lose 35% Cut rates to Zero where they have stayed (NEAR) for 20 years as we can no longer raise them, on say we will.
2006 housing bubble created by Clinton and Bush2 allowing banks to deregulate and loan out anything, banks bundle CDO's and destroy themselves.
2008- Obama agrees that if elected, he will bail out banks with more free printing. Then we add in more free fiat money printing and call it Quantitative Easing as if it is a good thing.
2014 and we are living off of that easy money, the printing, the handouts. All the while the Government spends and borrows more money to inflate the GDP. Real GDP is -15% so the government borrows enough to earse the -15% and create 3%
2018 - The FED tries to raise rates, Trump screams and it drives the market down. (thus the NOW is that the market is the tell tale sign of a good economy). Which is a failing sign for reality. We are all told LOOK AT WALLSTREET it is good, thus you are good.
During the past 10 years we inflate d the debt 10T. 1T per year of spending to Make things look good.
2020 - They use the pandemic as a reason to print even more money. The FED adds a lot of that debt to its balance sheet, almost 9T now. 9T + 30T equal 40T the american COnsumer now owes out thru the polticians, all in the name of keeping the economy functioning.
2022 and it is a road block on BBB.. It should be as all it does is help cover up reality for another 2 years. You will lose yet another 10% in purchasing power, the elite will gain another 30% in wealth. There is no way out, last year we printed 30% in GDP to erase a Negative -27% as we always fall ON PURPOSE at around 3%.
3% is the magical number where Americans have come to think all is well. Pay no attention to real inflation, or real wage loss, or real wealth gain by the top 5% including many I know, we are doing well because we seen this coming.
I think the right wing and left wing are both way off base to reality. The RNC, Trump, Brian Mast, Desantis, and others are willing to lie, cheat and steal to gain more power. The Left are willing to print money forever and give it away to people so they can buy food and shelter. Both are failing policies.

If we dont do what FDR did, what real Americans did in the late 1930s, take from the ultra rich and force them to pay real wages American will continue to crumble. Creating a new currency, a CBDC will not change anything. It wont be back by reality, only buy guns and promises that will fail. America is in huge trouble and if you are not prepared, be prepared to be homeless because the USA dolalr wont last 15 more years, maybe 8 -10, but no more than that, it cant, we dont have the economy to support it.
THe elite control the media, the FED, the BLS (bureau of labor stats) thru the politicians, the FED owns the IRS, the bullion banks which controls the COMEX and thus the price of GOLD and SILVER keeping it low forever so that you cant save your money, they force you to spend on risky assets, real estate which is way over priced, stock market which is even more over priced. Or bonds, which are worthless because 1.5% when inflation is at 10% guarantees you lose 8.5%.

I am getting tired now, going to rest... America for most people now really sucks

 

Perhaps one day you'll claw your way into the upper class too.

Shrinkage doesn't automatically mean people are becoming more poor.

Middle class income is $50,641 to $135,042, and lot of households make more than $135K.

 

I'm guessing inner city middle class people are being replaced by rich drug dealing people and the inner city politically connected class.

 

the great outsourcing of the middle class overseas

greedy corporatism is destroying capitalism

 

Oh? Maybe you would like to explain to us what held in check "corporate greed" during the 1980s?

You can't just blame "greedy corporatism". What changed between then and now?

 

Great post and so very true

 

Everything Changed...
1.The owners no longer paid 80% tax.
2. They started moving corps. of shore to hide income.
3. Glass Stiegel repealed
4. Buy backs allowed again (removed in the 1930s because it allows for runaway greed and monoplys)
5. Supreme Court to rule in favor of the mega rich
6. So much deregulation you couldnt list it all in one page...
7. So so much thru free money to banks and lower wages to the people.
8. Bailout of 2008
9. No bailout for the people
10 Media take over by 8 Globalist Israeli Billionaires to control your mind, it works

So yea... What changed...

 

I can maybe half agree with some of those things on your list, agree to others with caveats, highly question or disagree with others (3,4,5,6), but can totally agree with you about 8 and 9, and mostly agree with you about 10.
I think maybe we should continue this discussion in another thread.

 

Why in another thread?

The shrinkage of the middle class can be blamed on HUD, or tax cuts, or any number of specifics, or it can be blamed on the cause of those things all being a problem. And that cause is aging capitalism, which produces increasing crises, all the burden of which the corporate class and their government work to transfer to the backs of the middle class. Functional monopoly means less for the non-corporate class and increasing crises for us too.

 

People never paid 80% in taxes, you could write off everything then.

 

It will only get worse. Young people today are content to live in squalor as long as they have a cell phone, streaming, and grub hub.

Sounds simple but it is true. There is no need to get a good job or become educated. Sure those that have a decent upbringing and higher than average intelligence will, but the rest of society will not.

Another problem is the decline in birth rate for middle and above households. Those people stopped having as many kids while the low IQ crowd started having full litters. Check mate