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Thread: 1 in 7 Americans is Part of the World’s Poorest 10%

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    Default 1 in 7 Americans is Part of the World’s Poorest 10%

    Excerpt:

    1 in 7 Americans is Part of the World’s Poorest 10%

    According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD’S POOREST 10%. How is that possible? In a word, debt. In more excruciating words: stifling, misery-inducing, deadly amounts of debt for the poorest Americans. And it goes beyond dollars to the “deaths of despair” caused by the stresses of inferior health care coverage, stagnating incomes, and out-of-control inequality.

    Numerous sources report on the rising debt for the poor half of America, especially for the lowest income group, and largely because of health care and education costs. Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.

    It could be argued that Scandinavian countries face the same degrees of debt as Americans. But far less of the debt is for health and education costs. And the Scandinavian safety net is renowned for its generous provisions for all citizens.

    Half of Us are In or Near Poverty

    continued

    https://wakeup-world.com/2018/11/16/...se-in-america/

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    Quote Originally Posted by kudzu View Post
    Excerpt:

    1 in 7 Americans is Part of the World’s Poorest 10%

    According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD’S POOREST 10%. How is that possible? In a word, debt. In more excruciating words: stifling, misery-inducing, deadly amounts of debt for the poorest Americans. And it goes beyond dollars to the “deaths of despair” caused by the stresses of inferior health care coverage, stagnating incomes, and out-of-control inequality.

    Numerous sources report on the rising debt for the poor half of America, especially for the lowest income group, and largely because of health care and education costs. Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.

    It could be argued that Scandinavian countries face the same degrees of debt as Americans. But far less of the debt is for health and education costs. And the Scandinavian safety net is renowned for its generous provisions for all citizens.

    Half of Us are In or Near Poverty

    continued

    https://wakeup-world.com/2018/11/16/...se-in-america/
    Like those in North Korea, most of the poor won't believe it, because they believe what they are told, like good little citizens.

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    Half of Us are In or Near Poverty

    $1 in expenses twenty years ago is now $1.25. $1 in earnings twenty years ago is now still $1. More and more Americans are facing financial difficulty. Estimates of adults living from paycheck to paycheck range from half to 60 percent to 78 percent. Any sign of a recession would be devastating for most of us.

    It’s estimated that a typical U.S. household needs about $60,000 annually to meet all expenses. That’s only manageable if two adults are working full-time for $15 per hour. Beyond that, little cushion exists. No American adult in the bottom 40% has more than $31,124 in total wealth, including house and car and savings (Table 3-4).

    Booming Economy, Low Unemployment, and Other Deceptions

    While 1 in 7 Americans is part of the world’s poorest 10%, nearly 3 in 7 Americans are part of the world’s richest 10%. The economy is booming for THEM. Yet the Wall Street Journal has the arrogance to claim that “Americans traditionally left behind…are reaping the benefits..”

    How about the “jobs for everyone” fantasy? The official unemployment rate, according to the Bureau of Labor Statistics (BLS) itself, is based on employees “who did any work for pay or profit during the survey reference week.”

    The BLS workforce includes contingent and alternative employment arrangements that make up about 10% of the workforce. It includes part-time workers (even one hour a week!), who make up about 16% of the workforce. And, inexplicably, it fails to count as unemployed those who have given up looking for work — 4% more Americans than in the year 2000.

    Many of today’s ‘gig’ jobs don’t pay a living wage, and most have no retirement or health benefits, no job security, no government regulations backing them, and usually a longer work day, with many people putting in 10- to 12-hour days for $13 per hour or less. According to a New York Times report, “41.7 million laborers — nearly a third of the American work force — earn less than $12 an hour, and almost none of their employers offer health insurance.”

    continued

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    Quote Originally Posted by iolo View Post
    Like those in North Korea, most of the poor won't believe it, because they believe what they are told, like good little citizens.
    What are the poor in the U.S. told that make them sheep in your mind?

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    Quote Originally Posted by iolo View Post
    Like those in North Korea, most of the poor won't believe it, because they believe what they are told, like good little citizens.
    Yep. There's a lot of pretending going on.

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    Quote Originally Posted by cawacko View Post
    What are the poor in the U.S. told that make them sheep in your mind?
    Since McCarthy, they have been terrified of class politics, and believe it is part of religion to kiss the arses of the very rich, in my view. As early as Dickens it was noticed that Americans have been taught to admire even those who rob them ragged. Certain issues they are never really permitted to raise, as in North Korea, but it is done differently, mostly be moneyed control of the media.
    Last edited by iolo; 11-16-2018 at 08:47 AM.

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    Quote Originally Posted by iolo View Post
    Like those in North Korea, most of the poor won't believe it, because they believe what they are told, like good little citizens.
    but trumpy was sure he could kill the press

    Or at least that is what Putin told him he could do

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    Quote Originally Posted by cawacko View Post
    What are the poor in the U.S. told that make them sheep in your mind?
    Listen to the hard right always talking about secession or civil war.. There's a lot of that on this board. What is their motivation?

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    Quote Originally Posted by iolo View Post
    Since McCarthy, they have been terrified of class politics, and believe it is part of religion to kiss the arses of the very rich, in my view. As early s Dickens it was noticed that Americans have been taught to admire even those who rob them ragged. Certain issues they are never really permitted to raise, as in North Korea, but it is done differently, mostly be moneyed control of the media.
    ummm Dickens' tales take place in the UK


    he wasn't just teaching Americans

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    Quote Originally Posted by evince View Post
    but trumpy was sure he could kill the press

    Or at least that is what Putin told him he could do
    Aren't radio, television and the Internet more important now, though? He gets plenty of backing from the first two, and all those Russians on the third.

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    Quote Originally Posted by kudzu View Post
    Excerpt:

    1 in 7 Americans is Part of the World’s Poorest 10%

    According to the Credit Suisse 2018 Global Wealth Databook, 34 million American adults are among the WORLD’S POOREST 10%. How is that possible? In a word, debt. In more excruciating words: stifling, misery-inducing, deadly amounts of debt for the poorest Americans. And it goes beyond dollars to the “deaths of despair” caused by the stresses of inferior health care coverage, stagnating incomes, and out-of-control inequality.

    Numerous sources report on the rising debt for the poor half of America, especially for the lowest income group, and largely because of health care and education costs. Since 2008 consumer debt has risen almost 50 percent. The percentage of families with more debt than savings is higher now than at any time since 1962.

    It could be argued that Scandinavian countries face the same degrees of debt as Americans. But far less of the debt is for health and education costs. And the Scandinavian safety net is renowned for its generous provisions for all citizens.

    Half of Us are In or Near Poverty

    continued

    https://wakeup-world.com/2018/11/16/...se-in-america/
    It happens because they don't count the $30K worth of government benefits they receive as income.

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    Quote Originally Posted by Kacper View Post
    It happens because they don't count the $30K worth of government benefits they receive as income.
    Nonsense.. The hard right is only interested in guns and religion.. NOT education or healthcare.

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    Quote Originally Posted by iolo View Post
    Aren't radio, television and the Internet more important now, though? He gets plenty of backing from the first two, and all those Russians on the third.
    yeah

    hes in a tight spot

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    Quote Originally Posted by Kacper View Post
    It happens because they don't count the $30K worth of government benefits they receive as income.
    is that cobweb of old memes in your brain getting tangled


    maybe just one more song today

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