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The Middle Class was an aberration...was never supposed to happen. That little sociological blip is rapidly being corrected.
First, we lose the investment in our homes by having had the values artificially inflated so that we would borrow against nonexistent money, then having the values lowered so that we are, effectively being returned to being rental tenants for the next decade or so. Second, any jobs which one can actually make a decent living at are shipped overseas where impoverished people jump at the chance to make 1/10th the wages that were paid in this country. Third, the retirement investments we have all labored to build are consumed by market crashes and negative yields. Finally, inflation consumes any of the expendable income we might have as employers in a slumping economy are unwillng or unable to provide raises to even allow us to stay even with inflation.
The rich will still be rich, because the gap between the wealthy and even the middlest of the Middle class is so enormous.
Anyone taking bets on who will step up to shoot down my thesis?
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"To those of you who are wearing ties, I think my dad would appreciate it if you took them off." - Robert Moog
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