The good news: if you’re in the American upper class, things are getting better. Some reports even suggest more people are entering the upper class.

The bad news: if you’re not in the American upper class, the likelihood is high that your situation is deteriorating, or at least is not looking positive.

Pulling the headlines from the article:

  • Half of Americans Make Less than a Living Wage (50% make less than $30,000 per year)
  • Half of Americans Have No Savings (Over 70% have less than $1,000 in savings)
  • Nearly Two-Thirds of Americans Can’t Afford to Fix Their Cars (62% can’t afford a $500 repair, and 50% can’t afford a $400 repair)

And then, as an aside;

“Between 2007 and 2013 median wealth dropped a shocking 40 percent, leaving the poorest half with debt-driven negative wealth” – Salon

There are more than enough positive stories to relay, but they describe the minority. Now that there’s a majority making too little with net worths that are too little, there’s also an increasing probability of political or societal change.

(Click on the chart for the link.)

2 thoughts on “Bifurcated American Economy

  1. Pingback: Data That Matters December 2015 | Pretending Not To Panic

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s