More Evidence That America's Middle Class Is Sliding Toward the Third World

[Ptarmigan]

xchrom (92,067 posts)

More Evidence That America's Middle Class Is Sliding Toward the Third World
http://www.alternet.org/hard-times-usa/more-evidence-americas-middle-class-sliding-toward-third-world



A recent article by Les Leopold informed us that our nation is near the bottom of the developed world in median wealth, probably the best gauge for the economic strength of the middle class. The source of the information, the Global Wealth Databook, provides additional evidence of our decline from our once-lofty position as an egalitarian country with opportunities for nearly everyone.

The data is summarized below. Column 4 reveals that the U.S. is near the top of the developed world in average wealth, in good part because of its many millionaires (Col 8). Median wealth per adult, in Column 5, is much lower. As a sign of the distance between America's middle class and its national wealth, Column 6 shows that the ratio of median to mean in the U.S. is lower than in any country except Russia.

The impact of all this is shown in Column 7. Median-level adults in the U.S. get a smaller percentage of their nation's wealth than in any other country except China and India.

To view Column 7 in another way, a middle-class adult in Finland owns $122 for every billion dollars of his or her nation's wealth. In Canada it's $13. In the U.S. it's 60 cents. Only China (40 cents) and India (30 cents) give their middle-class adults less.

leveymg (27,100 posts)
1. That Gini is going to get us. Pulls Empires apart, every time.

We're already the most inequitable major state. How long can this get worse before the worst -- civil war and collapse -- finally happens?

Someone calling for a civil war.

East Coast Pirate (287 posts)
10. It contains rainbows and ponies.

Stop doubting our leader.

Lasher (20,633 posts)
7. I confess I don't know everything there is to know about economics.


Last edited Mon Jul 1, 2013, 09:47 AM USA/ET - Edit history (2)
But I don't think it's a good idea to keep doing the same kind of things we've been doing for the past 30 years.

The income has dropped more since Obama took office.

Le Taz Hot (14,723 posts)
19. OK. Stop.

The "illegal immigration" was ENCOURAGED and INITIATED by the same people who excoriate "illegal immigrants." The floodgates opened because 1) owners could get away with paying UNDOCUMENTED WORKERS less and offer them NO benefits or job security; 2) they could violate OSHA standards all day long and they know the UNDOCUMENTED WORKERS would not complain for fear of being sent back to their native country; 3) to flood the market with more workers than jobs which made it an employer's market rather than an employee's market thereby LOWERING the standard of living for everyone.

I can't believe anyone on this board would be so uneducated, so unenlightened to suggest that the "blame" for our economy is "illegal immigrants" and not the Robber Barons who hold the purse strings AND own our government.

Perhaps we did not have minimum wage to begin with.

Le Taz Hot (14,723 posts)
24. Your response

is one non-sequitur after another so I'm not going to attempt to sort it all out. But I have do have to address this one:


"You undoubtedly know who Cesar Chavez was? Did you know that he opposed illegal aliens? He, with Dolores Huerta, co-founded the National Farm Workers Association. If he could oppose illegal aliens, why can't other Americans?"

In that I reside in Fresno, CA, yeah,, I've heard the name. He was against exploitation of the UNDOCUMENTED workforce. You posit that UNDOCUMENTED WORKERS are responsible for our lousy economy without ever acknowledging the culpability of those who write the checks and make the laws. Same objection. Different reasons.

And your use of such an outmoded term as "illegal immigrants" doesn't exactly show a measure of enlightenment. These are people who are trying to provide for themselves and their families. Reducing them down to a some outmoded term is not something in which I would think we would want to be engaged on DU.

AnotherMcIntosh (8,324 posts)
27. In case you haven't noticed, you are not the DU language monitor.

Le Taz Hot (14,723 posts)
39. Oh, christalmighty.

I'm done here.

http://www.democraticunderground.com/10023139347

You libtards want America a Third World Cesspool.

[Chris_]

But we're still above Sweden.  I thought Sweden was teh awesomes.

The problem with these claims is they never define "wealth".  If they're looking at assets + income, the housing market has a lot to do with that and still does.

[jukin]

Something happened in  early 2007, what the hell was it?

When will the LIVs wake up to the fact that democrats kill the economy. Democrats destroy wealth. Democrats destroy freedom. Whatever comes out of their mouths i public is the exact opposite of what they believe and what they will do.

I would also like to point out that the economic illiterate 0bama has dragged the USA from number 2 in economic freedom to number 14. It ain't easy destroying 9.5 million jobs in less than four years but it will give you the results we see here.

[hillneck]

East Coast Pirate (287 posts)
10. It contains rainbows and ponies.

Stop doubting our leader.

This primitive is headed for a tombstone.  His post count is low and he's bad-mouthing the chosen one.  Them again it may be a suicide run of a mole.  

[JohnnyReb]

And your use of such an outmoded term as "illegal immigrants" doesn't exactly show a measure of enlightenment.

Well, as for me then, I must be in total darkness....enlightenment...posh.....that namby-pansy twisting of terminology for the #^@#$*  %^$#*^# illegal border crossing illegal ^$$#0!$ burned that light out years ago.   

[Rebel]

And your use of such an outmoded term as "illegal immigrants" doesn't exactly show a measure of enlightenment.

Well, as for me then, I must be in total darkness....enlightenment...posh.....that namby-pansy twisting of terminology for the #^@#$*  %^$#*^# illegal border crossing illegal ^$$#0!$ burned that light out years ago.   

Speaking of illegals, stole this from Hathcock's FB page:

[SSG Snuggle Bunny]

Interesting chart there.

Italy, Ireland and Spain are so broke they'll be selling ass and lips by year's end but supposedly they're richer than the US middle class.

Meanwhile, Sweden -- oh Sweden -- with its lavish socialist welfare state is behind us.



Do these drones even critique the propaganda they're expected to push?

[BlueStateSaint]

Speaking of illegals, stole this from Hathcock's FB page:

 

H5, Reb!

[Kimberly]

Unions vs. illegal immigrant lovers. Please Lord, let this rift grow and tear the dems apart. Even just a little bit. Amen.

Response to xchrom (Original post)

Mon Jul 1, 2013, 10:06 AM

AnotherMcIntosh (8,336 posts)

11. The photo is probably from a city where manufacturing jobs were shipped to foreign countries.
 
Thank you Bush I for proposing NAFTA. Thank you Bill Clinton for getting Senate Democrats (or enough of them to support it) and signing NAFTA. Thank you Bush II for continuing the let's-send-jobs-to-foreign-countries policy, and for financing Middle-East wars on credit. And thank you Obama for signing three "free-trade" agreements and negotiating the pending TPP, the NAFTA of the Pacific on steroids.

A special thanks, too, to all the enablers, including posters who supported Bill Clinton ("Look, the DOW is so high") and Obama ("Would you rather have McCain?" "Or Rmoney?" "You just have to be more patient with the chess-master.")

Response to AnotherMcIntosh (Reply #11)

Mon Jul 1, 2013, 10:14 AM

joeglow3 (3,338 posts)

15. You also need to include illegal immigration

My father was a union drywaller who provided a great middle class income for our family. Then, in the 80's, illegal immigrants began to flood his profession. By the mid 90's all unions had been busted, wages were a fraction of what they once were and many of our family friends were literally homeless.

Response to joeglow3 (Reply #15)

Mon Jul 1, 2013, 10:20 AM

AnotherMcIntosh (8,336 posts)

16. Agreed. But according to many, we're racists, xenophobes, and not true Democrats if we
 
oppose illegal immigration.

The ones who favor illegal immigration, particularly along racial lines, are helping to push wages lower and helping the super-rich destroy this country.

 

[Chris_]

Response to AnotherMcIntosh (Reply #11)
Mon Jul 1, 2013, 10:14 AM
joeglow3 (3,338 posts)

15. You also need to include illegal immigration

My father was a union drywaller who provided a great middle class income for our family. Then, in the 80's, illegal immigrants began to flood his profession. By the mid 90's all unions had been busted, Wages were a fraction of what they once were and many of our family friends were literally homeless.

You can thank Senate Democrats for that "deal" as well.

[Ptarmigan]

Unions vs. illegal immigrant lovers. Please Lord, let this rift grow and tear the dems apart. Even just a little bit. Amen.

 
 

I like it when the rift grows.

[AllosaursRus]

Well my math sucked. Thanx US for catchin' it.

Perhaps the DUmmies should include the cost of living in their calculations.

One other thing, what's the percentage on the government dole in these other countries? I believe it's 48% here.

[jukin]

The ones who favor illegal immigration, particularly along racial lines, are helping to push wages lower and helping the super-rich destroy this country.

Those are the ones that DO NOT work and live off of those that do. Their thinking is that they will get more free stuff if there are more freeloaders. They will be unpleasantly surprised at what happens when you increase the number of moochers.

[I_B_Perky]

AnotherMcIntosh (8,324 posts)
27. In case you haven't noticed, you are not the DU language monitor.

 

That's gonna leave a mark!

[98ZJUSMC]

Interesting chart there.

Italy, Ireland and Spain are so broke they'll be selling ass and lips by year's end but supposedly they're richer than the US middle class.

Meanwhile, Sweden -- oh Sweden -- with its lavish socialist welfare state is behind us.



Do these drones even critique the propaganda they're expected to push?

Exactly.  So, we're ahead of Sweden and Denmark, the havens these infants have been calling out as role models.

What's up with that (other than that chart is chock full of specious and utter bullshit.)?

AnotherMcIntosh (8,336 posts)

11. The photo is probably from a city where manufacturing jobs were shipped to foreign countries.
 
Thank you Bush I for proposing NAFTA. Thank you Bill Clinton for getting Senate Democrats (or enough of them to support it) and signing NAFTA. Thank you Bush II for continuing the let's-send-jobs-to-foreign-countries policy, and for financing Middle-East wars on credit. And thank you Obama for signing three "free-trade" agreements and negotiating the pending TPP, the NAFTA of the Pacific on steroids.

A special thanks, too, to all the enablers, including posters who supported Bill Clinton ("Look, the DOW is so high") and Obama ("Would you rather have McCain?" "Or Rmoney?" "You just have to be more patient with the chess-master.")

   Gee whiz it's,.....everybody's fault!!!

So, you and Drywall Dad were kickin' ass under Reagan, eh?

Lesson.  Learn it.

[JohnnyReb]

To view Column 7 in another way, a middle-class adult in Finland owns $122 for every billion dollars of his or her nation's wealth

It doesn't take much to own a large percentage of a poor ass nation.

I like and would still rather have my 60 cent's worth of America.