Credit Suisse estimates that 25% of Americans are in this situation of having a negative net-worth.
“If you’ve no debts and have in your pocket you have more wealth than 25% of Americans.
-62 percent of all American workers made less than ,000 last year.
-71 percent of all American workers made less than ,000 last year. The federal poverty level for a family of five is ,410, and yet almost 40 percent of all American workers do not even bring in ,000 a year.
So many people that I know are barely scraping by right now.
With each passing year, it becomes cheaper and more efficient to have computers, robots and machines do things that humans once did.
Eventually, there will be very few things that humans will be able to do more cheaply and more efficiently than computers, robots and machines. In this vision of the future, super-smart machines will best humans in pretty much every task. For decades, we have been training our young people to have the goal of “getting a job” once they get out into the real world.
We just got more evidence that the middle class in America is dying.
According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than ,000 a year. You can’t support a middle class family in America today on just ,500 a month – especially after taxes are taken out.