Friday, July 5, 2013

Disturbing Fact About the Evaporating American Middle Class

Our middle class is falling further and further behind in comparison to the rest of the world. We keep hearing that America is number one. Well, when it comes to middle-class wealth, we're number 27.
America is by far the richest country in history yet there are 26 other countries with a higher median wealth.


Our middle class is falling further and further behind in comparison to the rest of the world. We keep hearing that America is number one. Well, when it comes to middle-class wealth, we're number 27.
USA, USA, USA we are #27, wait what?

Wealth is measured by the total sum of all our assets (homes, bank accounts, stocks, bonds etc.) minus our liabilities (outstanding loans and other debts). It the best indicator we have for individual and family prosperity. Wealth allows us to survive periods of economic turmoil. Wealth allows our children to go to college without incurring crippling debts, or to get help for the down payment on their first homes. Money may not buy happiness beyond a certain point, but it certainly makes a massive difference in the lives of most Americans.

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