Middle Class Falling Into 'Effective Poor'

America’s Collapsing Because it’s the World’s First Poor Rich Country — A Middle Class Falling Into Ruin, The Majority Of People Now Effectively Poor

Benjamin Luca

There are days I feel like I read dystopian statistics for a living. And then there are day when the dystopian statistics take even my jaded breath away. Here’s one: 43% of American households can’t afford a budget that includes housing, food, childcare, healthcare, transportation, and a cellphone. Translation: nearly half of Americans can’t afford the basics of life anymore.

Does that take your breath away too? It should. And yet it might not come as a surprise. You might know it intimately. The statistics say there’s an even chance you’re…living it. What a grim and bizarre reality. Half of people are effectively poor in the world’s richest country. What the?

The folks that did the study above call this new class of people ALICE, for “asset limited, income constrained, employed.” It’s a sharp way to think about American collapse. Let me translate this term, too: the people formerly known as the American middle class.

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Is This The Lowest Point In Modern U.S. History?

 Michael Snyder

Things have certainly gotten really crazy here in 2020.  First we witnessed the eruption of the worst global pandemic in 100 years, then the U.S. economy started collapsing, and then we watched major U.S. cities burn from coast to coast as rioting and looting spiraled out of control.  Everywhere you look, people are very angry and deeply frustrated, nearly 46 million Americans have filed for unemployment benefits over the past few months, and fear of COVID-19 continues to paralyze our society to a frightening extent.  But can this really be called the lowest point in modern U.S. history?  According to one recent survey, a whopping 72 percent of all Americans actually believe that this “is the lowest point in the country’s history that they’ve ever been alive to see”…

Across two polls, more than 5,000 adult U.S. residents were recently surveyed on the state of America right now. A staggering 83% say that worrying about the future of the United States is a big source of personal stress. Also, 72% believe this is the lowest point in the country’s history that they’ve ever been alive to see.

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