The primary cause of the west's demographic problem is kleptocracy

[Swordsmyth]

Researchers at Purdue University (https://purdue.edu/newsroom/releases/2018/Q1/money-only-buys-happiness-for-a-certain-amount.html) recently studied data culled from across the globe and found that “happiness” doesn’t rise indefinitely with income. In fact, there were cut-off points at which more annual income had a negative effect on overall life satisfaction.
So, what’s that number? In the U.S., $65,000 was found to be the optimal income for “feeling” happy.
While the media jumped on the headline, given median national incomes are closing in on $60,000, they should have actually read the rest of the study.
The income figure is per individual.
So to calculate the required income number for “happiness” you must multiply that number by the square root of the household size. So, what’s the number for a couple, or a family of three or four?


$65,000 x √2 = $92,000/year
$65,000 x √3 = $112,000/year
$65,000 x √4 = $130,000/year

That is an entirely different message from what most have been led to believe. An income of $130,000/year is far above the average incomes from most Americans currently and ability to maintain the basic lifestyle is becoming ever more problematic.
In the U.S., despite higher levels of low income (now there’s an oxymoron), inflation-adjusted median incomes have remained virtually stagnant since 1998.
http://realinvestmentadvice.com/wp-content/uploads/2018/02/Real-Median-Incomes-022718.png (http://realinvestmentadvice.com/wp-content/uploads/2018/02/Real-Median-Incomes-022718.png)
However, the chart above is grossly misleading because the income gains have only occurred in the Top 20% of income earners. For the bottom 80%, they are well short of the incomes needed to obtain “happiness.”
http://realinvestmentadvice.com/wp-content/uploads/2018/02/Real-Median-Incomes-5ths-022718.png (http://realinvestmentadvice.com/wp-content/uploads/2018/02/Real-Median-Incomes-5ths-022718.png)
For most American “families”, who have to balance their living standards to their income, the “experience” of “happiness” is more of a function of “meeting obligations” each and every month.
Today, more than ever, the walk to the end of the driveway has become a dreaded thing as bills loom large in the dark crevices of the mailbox. If they can meet those obligations, they are “happy.” If not, not so much.
The Financial Crisis Mindset In my opinion, what the study failed to capture was the “change” in what was required to achieve “perceived” happiness following the “financial crisis.”
Just as with “The Great Depression,” individuals forever altered their feelings about banks, saving and investing after an entire generation had lost “everything.” It is the same today as sluggish wage growth has failed to keep up with the cost of living which has forced an entire generation into debt just to make ends meet.
As the chart below shows, while savings spiked during the financial crisis, the rising cost of living for the bottom 80% has outpaced the median level of “disposable income” for that same group. As a consequence, the inability to “save” has continued.
http://realinvestmentadvice.com/wp-content/uploads/2018/02/Bottom-80pct-Income-CostofLiving-Savings-022718.png (http://realinvestmentadvice.com/wp-content/uploads/2018/02/Bottom-80pct-Income-CostofLiving-Savings-022718.png)
So, if we assume a “family of four” needs an income of $132,000 a year to be “happy,” such becomes problematic for the bottom 80% of the population whose wage growth falls far short of what is required to support the standard of living, much less to obtain “happiness.”
The “gap” between the “standard of living” and real disposable incomes is more clearly shown below. Beginning in 1990, incomes alone were no longer able to meet the standard of living so consumers turned to debt to fill the “gap.”
However, following the “financial crisis,” even the combined levels of income and debt no longer fill the gap. Currently, there is almost a $7000 annual deficit that cannot be filled.
http://realinvestmentadvice.com/wp-content/uploads/2018/02/Gap-Income-Spending-Saving-022718.png (http://realinvestmentadvice.com/wp-content/uploads/2018/02/Gap-Income-Spending-Saving-022718.png)
The mirage of consumer wealth has been a function of surging debt levels which was accumulated during the credit boom. The problem is the debt simply can’t be disposed of through ordinary means.


Many can’t sell their house because they can’t qualify to buy a new one
The cost to rent is now higher than current mortgage payments in many places
There is no ability to substantially increase disposable incomes because of deflationary wage pressures; and,
Despite the mainstream spin on recent statistical economic improvements, the burdens on average American families are increasing namely in the things they can’t control – health care, energy, and housing.

Nothing brought this to light more than the recent release of the Fed’s Report on “The Economic Well-Being Of U.S. Households.” (https://www.federalreserve.gov/publications/files/2016-report-economic-well-being-us-households-201705.pdf) The overarching problem can be summed up in one chart:
http://realinvestmentadvice.com/wp-content/uploads/2017/09/Pay-For-Emergency.png (http://realinvestmentadvice.com/wp-content/uploads/2017/09/Pay-For-Emergency.png)
This isn’t just about the “baby boomers,” either.
Millennials are haunted by the same problems, with 40%-ish unemployed, or underemployed, and living back home with parents. In turn, parents are now part of the “sandwich generation” that are caught between taking care of kids and elderly parents. The rise in medical costs and health care goes unabated consuming more of their incomes.
More importantly, despite economic reports of rising employment, low jobless claims, surging corporate profitability and continuing economic expansion, the percentage of government transfer payments (social benefits) as compared to disposable incomes have surged to the highest level on record.
http://realinvestmentadvice.com/wp-content/uploads/2018/02/Social-benefits-Pct-Incomes-022718.png (http://realinvestmentadvice.com/wp-content/uploads/2018/02/Social-benefits-Pct-Incomes-022718.png)
More Money Of course, by just looking at household net worth, once again you would not really suspect a problem existed. In the Fed’s latest Flow of Funds report (https://www.federalreserve.gov/releases/z1/current/z1.pdf), the Fed revealed households currently held $112.4 trillion in assets with just a modest $15.4 trillion in liabilities, which brought the net worth of the average US household to a new all-time high of $96.9 trillion. The majority of the increase over the last several years has come from increasing real estate values and the rise in various stock-market linked financial assets like corporate equities, mutual and pension funds.
http://realinvestmentadvice.com/wp-content/uploads/2018/03/Household-Net-Worth-Liabilities-030318.png (http://realinvestmentadvice.com/wp-content/uploads/2018/03/Household-Net-Worth-Liabilities-030318.png)
However, once again, the headlines are deceiving even if we just slightly scratch the surface. Given the breakdown of wealth across America we once again find that virtually all of the net worth, and the associated increase thereof, has only benefited a handful of the wealthiest Americans.
Despite the mainstream media’s belief that surging asset prices, driven by the Federal Reserve’s monetary interventions, has provided a boost to the overall economy, it has really been anything but. Given the bulk of the population either does not, or only marginally, participates in the financial markets, the “boost” has remained concentrated in the upper 10%. The Federal Reserve study (https://realinvestmentadvice.com/for-90-of-americans-there-has-been-no-recovery-2/) breaks the data down in several ways, but the story remains the same – “if you are wealthy – life is good.”
http://realinvestmentadvice.com/wp-content/uploads/2015/03/Fed-Survey-2013-AssetsbyPercentile-091014.png (http://realinvestmentadvice.com/wp-content/uploads/2015/03/Fed-Survey-2013-AssetsbyPercentile-091014.png)
The illusion by many of ratios of “economic prosperity,” such as debt-to-income ratios, wages, assets, etc., is they are heavily skewed to the upside by the top 20%. Such masks the majority of Americans who have an inability to increase their standard of living.
While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else. What monetary interventions have failed to accomplish is an increase in production to foster higher levels of economic activity.
Of course, when couples are stressed financially, they also become stressed “sexually.”
Less Sex Not surprisingly, the “financial stress” in American households is leading to other factors which are fueling the “demographic” problem in the future. The equation is very simple – when individuals are stressed over finances they are less active sexually.
This was shown in a recent study by the National Bureau of Economic Research. Ahead of the past three US recessions, the number of conceptions began to fall at least six months before the economy started to contract. As the FT notes (https://www.ft.com/content/daf5dc40-17e8-11e8-9e9c-25c814761640), while previous research has shown how birth rates track economic cycles, the scientific study is the first to show that fertility declines are a leading indicator of recessions.
Daniel Hungerman, economics professor at the University of Notre Dame and one of the report’s authors, said

“It is ‘striking’ that the drop in pregnancies was evident before the recession that came after the 2007 financial crisis, since it has traditionally been argued that this slump had been hard to predict.”
The analysis used data on the 109 million births in the US between 1989-2016 to examine how fertility rates changed through the last three economic cycles — in the early 1990’s, the early 2000’s, and the late 2000’s. A similar pattern emerged in all three cases.
In other words, less sex with the intent to procreate.

“One way to think about this is that the decision to have a child often reflects one’s level of optimism about the future,” says Kasey Buckles, another Notre-Dame professor and co-author of the study. Research published through the NBER is often conducted by academics at their own universities.
To the researchers’ surprise, they found that falls in conceptions were a far better leading indicator of recessions than many commonly used indicators such as consumer confidence, measures of uncertainty, and purchases of big-ticket items such as washing machines and cars.
http://realinvestmentadvice.com/wp-content/uploads/2018/03/conception-rates.jpg (http://realinvestmentadvice.com/wp-content/uploads/2018/03/conception-rates.jpg)
Of course, this decline in fertility, fuels one of the primary problems facing the U.S. over the next 30-years – the decline in the ratio of workers per retiree or “demographics.” As retirees are living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers.)the “support ratio” is falling sharply.
http://realinvestmentadvice.com/wp-content/uploads/2017/04/Old-vs-Young-Population-040417.png (http://realinvestmentadvice.com/wp-content/uploads/2017/04/Old-vs-Young-Population-040417.png)
The problem for American families today, despite media commentary to the contrary, is simply the inability to maintain their current standard of living. When incomes remain stagnant, or falls, due to job loss or reduction in pay, the impact on the budget at home is significant when there are already very low saving rates and the inability to access a tight credit market. The recent surge in consumer debt, with little relative increase in overall personal consumption expenditures, shows this to be the case. For Main Street, the economy remains mired at sub-par growth rates ten-years into a post-recessionary environment.

More at: https://www.zerohedge.com/news/2018-03-05/sex-money-happiness

[Swordsmyth]

Just two months of stress may damage a man's sperm and slash his chances of having children, a new study suggests.
Israeli scientists found men are 47 per cent more likely to have swimmers with weak motility if they are under intense pressure.
Weak motility – known to be affected by lifestyle choices - makes it less likely that the sperm will successfully fertilise an egg.
The findings were derived from 11,000 sperm samples, including those of adults exposed to 'regular rocket warning sirens' in the Gaza Strip.


Researchers at Ben-Gurion University of the Negev and Soroka University Medical Center in Beer-Sheva led the study.
They analysed 10,535 sperm samples donated by men during periods in Israel deemed ‘unstressful’ between 2009 and 2017.
These were then compared to 659 samples from men take up to two months after fierce military battles between Israel and Gaza.


The men had an average age of 32, which, according to figures, is the average age for first time fathers in the UK.
Even though the findings related to just those living in conflict zones, the researchers argued they could apply to any mental stress.
Dr Eliahu Levitas, study author, said: ‘This study shows that prolonged stress can have an effect on sperm quality.
‘Mental stress is known to have an adverse effect on fertility, but there is little research on the impact of stress on sperm quality.’

More at: http://www.dailymail.co.uk/health/article-5817695/Just-2-MONTHS-stress-damage-mans-sperm.html

[dannno]

Just two months of stress may damage a man's sperm and slash his chances of having children, a new study suggests.
Israeli scientists found men are 47 per cent more likely to have swimmers with weak motility if they are under intense pressure.
Weak motility – known to be affected by lifestyle choices - makes it less likely that the sperm will successfully fertilise an egg.
The findings were derived from 11,000 sperm samples, including those of adults exposed to 'regular rocket warning sirens' in the Gaza Strip.


Researchers at Ben-Gurion University of the Negev and Soroka University Medical Center in Beer-Sheva led the study.
They analysed 10,535 sperm samples donated by men during periods in Israel deemed ‘unstressful’ between 2009 and 2017.
These were then compared to 659 samples from men take up to two months after fierce military battles between Israel and Gaza.


The men had an average age of 32, which, according to figures, is the average age for first time fathers in the UK.
Even though the findings related to just those living in conflict zones, the researchers argued they could apply to any mental stress.
Dr Eliahu Levitas, study author, said: ‘This study shows that prolonged stress can have an effect on sperm quality.
‘Mental stress is known to have an adverse effect on fertility, but there is little research on the impact of stress on sperm quality.’

More at: http://www.dailymail.co.uk/health/article-5817695/Just-2-MONTHS-stress-damage-mans-sperm.html


Hmm, I would have thought the regular rocket warnings would have made the sperm swim faster.

[DamianTV]

They've stolen our future to pay for the wars of the present.

[timosman]

They've stolen our future to pay for the wars of the present.


https://www.youtube.com/watch?v=S9kTeEshewY

[Swordsmyth]

Suicide rates are up 30 percent since 1999, CDC says (http://www.ronpaulforums.com/showthread.php?523054-Suicide-rates-are-up-30-percent-since-1999-CDC-says)

[Swordsmyth]

The following are 15 signs that the middle class in the United States is being systematically destroyed…
#1 78 million Americans (https://www.marketwatch.com/story/if-the-economy-is-so-great-why-are-78-million-hustling-for-dimes-2018-06-01?link=sfmw_tw&ns=prod/accounts-mw) are participating in the “gig economy” because full-time jobs just don’t pay enough to make ends meet these days.
#2 In 2011, the average home price was 3.56 times (https://www.sovereignman.com/trends/americas-long-term-challenge-4-erosion-of-the-middle-class-23722/) the average yearly salary in the United States. But by the time 2017 was finished, the average home price was 4.73 times (https://www.sovereignman.com/trends/americas-long-term-challenge-4-erosion-of-the-middle-class-23722/) the average yearly salary in the United States.
#3 In 1980, the average American worker’s debt was 1.96 times (https://www.sovereignman.com/trends/americas-long-term-challenge-4-erosion-of-the-middle-class-23722/) larger than his or her monthly salary. Today, that number has ballooned to 5.00 (https://www.sovereignman.com/trends/americas-long-term-challenge-4-erosion-of-the-middle-class-23722/).
#4 In the United States today, 66 percent (http://money.cnn.com/2018/05/17/news/economy/us-middle-class-basics-study/index.html) of all jobs pay less than 20 dollars an hour.
#5 102 million (http://theeconomiccollapseblog.com/archives/the-truth-about-the-employment-numbers-nearly-102-million-working-age-americans-do-not-have-a-job-right-now) working age Americans do not have a job right now. That number is higher than it was at any point during the last recession.
#6 Earnings for low-skill jobs have stayed very flat for the last 40 years (http://thehill.com/opinion/finance/351259-despite-rosy-data-millions-of-americans-languish-in-poverty).
#7 Americans have been spending more money than they make for 28 months in a row (https://www.zerohedge.com/news/2018-05-31/savings-rate-tumbles-back-near-record-lows-americans-spend-more-they-make-28th).
#8 In the United States today, the average young adult with student loan debt has a negative net worth (https://nypost.com/2018/04/19/college-graduates-with-student-debt-have-depressing-net-worth/).
#9 At this point, the average American household is nearly $140,000 in debt (http://theeconomiccollapseblog.com/archives/goodbye-american-dream-the-average-u-s-household-is-137063-in-debt-and-38-4-of-millennials-live-with-their-parents).
#10 Poverty rates in U.S. suburbs “have increased by 50 percent since 1990” (https://www.msn.com/en-us/money/markets/poverty-is-rising-faster-in-us-suburbs-than-in-cities-%E2%80%94-heres-why/ar-AAy8Nnw?li=BBnb7Kz).
#11 Almost 51 million U.S. households “can’t afford basics like rent and food” (http://theeconomiccollapseblog.com/archives/nearly-51-million-households-in-the-united-states-cant-afford-basics-like-rent-and-food).
#12 The bottom 40 percent of all U.S. households bring home just 11.4 percent (http://thehill.com/opinion/finance/351259-despite-rosy-data-millions-of-americans-languish-in-poverty) of all income.
#13 According to the Federal Reserve (http://theeconomiccollapseblog.com/archives/federal-reserve-more-than-4-out-of-10-americans-do-not-even-have-enough-money-to-cover-an-unexpected-400-expense), 4 out of 10 Americans do not have enough money to cover an unexpected $400 expense without borrowing the money or selling something they own.
#14 22 percent (http://theeconomiccollapseblog.com/archives/federal-reserve-more-than-4-out-of-10-americans-do-not-even-have-enough-money-to-cover-an-unexpected-400-expense) of all Americans cannot pay all of their bills in a typical month.
#15 Today, U.S. households are collectively 13.15 trillion dollars (https://www.sovereignman.com/trends/americas-long-term-challenge-4-erosion-of-the-middle-class-23722/) in debt. That is a new all-time record.
When you think of “poverty in America”, you probably think of our blighted inner cities, but that is not where poverty is growing the fastest.
According to author Scott Allard (https://www.msn.com/en-us/money/markets/poverty-is-rising-faster-in-us-suburbs-than-in-cities-%E2%80%94-heres-why/ar-AAy8Nnw?li=BBnb7Kz), it is actually our suburbs where poverty is growing more rapidly than anywhere else…

According to a May report from the Pew Research Center (http://assets.pewresearch.org/wp-content/uploads/sites/3/2018/05/22100715/Pew-Research-Center-Community-Type-Full-Report-FINAL.pdf), since 2000, suburban counties have experienced sharper increases in poverty than urban or rural counties.
This is consistent with research across the U.S. over the past decade (https://www.brookings.edu/book/confronting-suburban-poverty-in-america/) – as well as my own book, “Places in Need.” (https://amzn.to/2kNWbyI)
This is why tens of millions of square feet of retail space (http://theeconomiccollapseblog.com/archives/77-million-square-feet-of-retail-space-and-counting-americas-retail-apocalypse-is-spiraling-out-of-control-in-2018) is being closed down and why formerly great shopping malls all over America now resemble ghost towns.
When I was growing up, the shopping mall was the place to be for average middle class kids. My family was middle class and virtually everyone that I knew was middle class. In fact, I don’t remember any really wealthy or really poor kids in my school at all.
But today most families have little to no financial cushion and are deep in debt. As a result, discretionary income has really dried up and that means less shopping.
So we are on pace for the worst year for store closings in American history (http://theeconomiccollapseblog.com/archives/77-million-square-feet-of-retail-space-and-counting-americas-retail-apocalypse-is-spiraling-out-of-control-in-2018), and yet the mainstream media keeps telling us that the economy is in “good shape”.
That is a load of nonsense. The numbers don’t lie, and the U.S. economy is never going to be in “good shape” until the middle class starts growing again.

More at: https://www.zerohedge.com/news/2018-06-08/15-signs-americas-middle-class-being-systematically-destroyed

[Swordsmyth]

Young adults list the high expense of child care as a top reason for having fewer kids, according a New York Times poll (https://www.nytimes.com/2018/07/05/upshot/americans-are-having-fewer-babies-they-told-us-why.html) released Thursday.
Fertility rates in the U.S. are at a record low for the second year in a row, according to data released earlier this year (https://www.nytimes.com/2018/05/17/us/fertility-rate-decline-united-states.html), with the Times' new poll shedding light on some of the major reasons behind the drop.
While 64 percent of the poll’s respondents said they are having fewer children because “child care is too expensive,” roughly half, 49 percent, said they are “worried about the economy,” 43 percent said they “waited because of financial instability” and 39 percent cited “no paid family leave.”


The decline in U.S. fertility rates began with the Great Recession in 2008 and has continued steadily for the past decade, baffling those who assumed the rate would pick back up when the economy recovered, the Times noted.
The number of births for every 1,000 women of childbearing age was 60.2 last year, a rate that is similar to other industrialized nations but the lowest the U.S. has ever seen.
Among respondents who said they did not plan to have children, around a quarter, 23 percent, cited the economy as a deterrent, while 24 percent said they couldn't afford a house. Other major factors surveyed were personal in nature, such as the desire for more leisure time or not having found a partner.

More at: http://thehill.com/homenews/news/395747-poll-young-adults-list-expense-of-child-care-as-top-reason-for-having-fewer

[Swordsmyth]

https://www.zerohedge.com/sites/default/files/inline-images/inequality-NYT8-17a_9.png

https://www.zerohedge.com/sites/default/files/inline-images/labor-GDP8-18a_0.png

[Swordsmyth]

Two things stood out in the December jobs report: first, the magnitude of the monthly increase in payrolls, which at 312K was the highest in 10 months and second, the stark increase in annual wage growth.As Reuters Jeoff Hall notes, 12 of the 15 major industry sectors (4 in goods-producing, 11 in service-providing) have 12-month growth rates in avg hourly earnings that exceed the Fed's 2.0% inflation target (with exceptions being Transportation & Warehousing (+0.7%), Nondurable Gds Mfg (+0.9%), Other Services at +1.8%).
However, reading between the lines reveals another somewhat unpleasant signal and may explain the impressive wage growth: the bulk of jobs in December went to aged workers, those 55 and older, who increased by 183K (according to the Household Survey). Meanwhile, the prime age group, those aged 25-54, actually declined by 11K in December. And since it was the younger age cohorts that saw virtually no job growth in December - i.e., those workers who have the least wage negotiating leverage - it explains the impressive wage growth, but it is also a potentially troubling indicator as it confirms that employers are primarily focusing on hiring those workers who already have experience, instead of permitting younger entrants to join the labor force.
https://www.zerohedge.com/sites/default/files/inline-images/old%20dec%202018.jpg
How does the data look on an annual basis, from December 2017 to December 2018: a little better, with the biggest age cohort, those 25-54 rising by 1.3 million, but it was once again the oldest workers, those 55 and older that have seen the bulk of job gains in the past year, confirming that younger Americans are having an increasingly harder time to find jobs when they are, well, competing with their parents, who have been unable to retire as a result of ten years of ZIRP which in turn crushed savings for an entire generation of (elderly) Americans, forcing them to stay in the job market well beyond their retirement age.
https://www.zerohedge.com/sites/default/files/inline-images/2018%20age%20increases.jpg



https://www.zerohedge.com/news/2019-01-04/only-old-americans-found-jobs-december

[Swordsmyth]

The U.S. economy is booming, right?
Republicans think President Trump (https://www.whitehouse.gov/briefings-statements/trump-economy-booming-coast-coast/) deserves much of the credit for cutting business and individual tax rates combined with a deregulation agenda. And Democrats believe former President Obama (https://www.marketwatch.com/story/obama-claims-ownership-of-uss-economic-recovery-as-he-blasts-trump-2018-09-07) deserves ownership for America’s recovery. Regardless of who gets credit (https://www.npr.org/2018/09/12/646708799/fact-check-who-gets-credit-for-the-booming-u-s-economy), HowMuch.net's (https://howmuch.net/articles/how-much-americans-make-in-wages) newest visualization of net compensation levels for American workers demonstrates that the economy is indeed delivering, but not for as many people as the headlines would have you believe...
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/how-much-americans-make-in-wages-35c8.png


The Social Security Administration (SSA) (https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2017) tracks net income numbers after taxes through the Average Wage Index (AWI). We broke the AWI into a three-part hierarchy of $5K increments, letting you easily see the reality of income inequality in the U.S.. Astonishingly, 13% of workers make less than $5K, and nearly half, or 48%, take home $31,561 or less in net compensation (the dark red on our visual). If your mind isn’t spinning yet, consider the fact that these numbers are all after a multi-year economic recovery. The U.S. is allegedly at or near full employment but wages (https://www.cnbc.com/2018/11/05/despite-hot-economy-wages-are-barely-growing-accounting-for-inflation.html) are barely growing, meaning these numbers are probably the best case scenario. Imagine what a recession would do to worker paychecks.
There is one important caveat to keep in mind when thinking about our dataset. The SSA numbers include any wage earners whatsoever, even part-time workers like students and teenagers. If the worker reports his or her income to the IRS on a W2 form, he or she is included in these stats. This drags down the aggregate wage numbers for full-time working adults, which reach $61,372 (https://www.nytimes.com/2018/09/12/us/politics/median-us-household-income-increased-in-2017.html) for households last year.
All that being said, the picture is still depressing. 1.4% of workers make between $250K - 50M, and another 8.2% bring home between $100K - 250K. Remember, these numbers reflect individual earners, meaning they don’t take into account household earnings. We mention this only because wealthy people tend to get married (https://www.theguardian.com/lifeandstyle/2017/oct/07/marriage-america-privilege-rich) at higher rates than poor people. In other words, wage earners at the top of the income ladder are probably much wealthier than even these numbers would suggest since their spouses are generally highly educated and well-compensated too.
The visualization makes it plain to see that most people take home very little money from their jobs. The federal poverty level for a family of 4 is $25,100 (https://familiesusa.org/product/federal-poverty-guidelines), which officials believe is the bare minimum needed to purchase subsistence food, clothing and shelter. To put this another way, the visualization indicates that enormous chunks of the workforce make a substandard wage, putting them at extreme risks if unpredictable financial problems occur.


https://www.zerohedge.com/news/2019-01-09/nearly-half-us-workers-earn-less-30000

[DamianTV]

Same shit different day. For a few to be rich, many must be poor.

[Swordsmyth]

Same $#@! different day. For a few to be rich, many must be poor.
That's not entirely true but this is about power and power IS relative, the last few generations of oligarchs have been so power mad that they are pushing our society and the whole world to the breaking point in order to achieve obscene levels of relative wealth and power.

[DamianTV]

That's not entirely true but this is about power and power IS relative, the last few generations of oligarchs have been so power mad that they are pushing our society and the whole world to the breaking point in order to achieve obscene levels of relative wealth and power.

Fully agreed.

If they had to earn their money the way we do, they'd never get off the ground. The foundation of their wealth truly is Belief Money and Violence. Belief comes into play when they persuade others of lesser intelligence that there is nothing inherently Dishonest about either Fiat Currency or Fractional Reserve Systems, which is why they utterly despise the Gold Standard. Once they have influenced Belief / Perceptions by confusing the differences between Money and Currency, they now have control of both Belief and Money. With both Belief and Money, they gather Enforcers of Violence to do their bidding. They control those enforcers by enticing with Money, which at the same time creates a Fear of Loss of that same manipulative Money (really currency at this point), causing those Enforcers to betray their own morals out of desperation and dependency. They end up with a Monopoly on all three Foundations.

Honest Money, not currency, frees the ordinary man, the man that does not understand the nature of Coin and Credit, from the clutches of the Money Manipulators, who are also Liars, and the most Violent in existence. Is it the soldier that is responsible for obeying the order to kill millions, or is it the person that issued the order? Many of those same men are hopelessly dependent on the issuers of that money which now controls their Obedience. The Elite are the Murderers of most of the worst atrocities carried out throughout history. It has been said that ALL WARS ARE BANKER WARS. So what happens when those same elite pit two countries against each other, in order to enslave their elected representatives to their bidding? They create an enemy, and those harmed by those manufactured enemies, desperate to secure funding for their wars turn to the Elite.

Thus, its not just the West's Demographic problem, but nearly every Humanitarian Crisis on the PLANET and throughout history has been caused by the Kleptocracy, who now desires TOTAL control by conversion to a Technocracy. Education, Media, even Churches are influenced by the power of their money. Stupidity is their most powerful weapon against the masses. By keeping people stupid, they are much more influenced, and can be easily convinced to believe absurdities, such as Fiat Currency is Money, and thus, manipulated to commit atrocities.

NOTE: I am out of Rep at the moment too.

[dannno]

Same $#@! different day. For a few to be rich, many must be poor.

Man is naturally born into a state of abject poverty. The question is not why are some people poor - the question is why are some people rich?

[shakey1]

That's not entirely true but this is about power and power IS relative, the last few generations of oligarchs have been so power mad that they are pushing our society and the whole world to the breaking point in order to achieve obscene levels of relative wealth and power.

truism... +rep

[Swordsmyth]

“Gradual inflation has a numbing effect. It impoverishes the lower and middle class, but they don’t notice.”
- Andrew Bosomworth, PIMCO Germany, as quoted in Der Spiegel
Media reports and political candidates have been stressing the rising wealth and income inequality gaps in the United States. They do so to advance their agendas, but the problem is real and they are justified in raising it. At the same time, both groups are largely overlooking an important piece of the puzzle in the way they talk about it. To properly diagnose this important problem, we need to understand the role the Federal Reserve plays in managing economic growth and how it contributes to these rising imbalances. This article examines the Federal Reserve’s monetary policy objectives and their stated inflation goals to help you better appreciate the role they play in this troubling and growing problem.
Populism on the Rise The political success of Donald Trump, Bernie Sanders and more recently Alexandra Ocasio-Cortez leave scant doubt that populism is on the rise. Voters from both parties are demanding change and going to extremes to achieve it. Much of what is taking place is rooted in the emergence of the greatest wealth inequality gap since the roaring ’20s.
Over the last twenty years, the “1%” have been able to accumulate wealth at an ever-increasing rate. According to the Economic Policy Institute, the top 1% take home 21% of all income in the United States, the largest share since 1928. The graph below, while slightly dated, shows the drastic change in income trends that have occurred over the last 35 years.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/1-5.png

Graph Courtesy: New York (https://realinvestmentadvice.com/stock/nwy) Times – One Broken Economy, in One Simple Chart (https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html)


This grab for riches by the few is coming at the expense of the many. There are a variety of social, political and economic factors driving the growing discrepancy, but there is one critical factor that is being ignored.

Enter the Federal Reserve The Federal Reserve Act, as amended in 1977, contains three mandates dictating the management of monetary policy. They are 1) maximize employment, 2) maintain stable prices, and 3) keep long-term interest rates moderate.
These broadly-worded objectives afford the Federal Reserve great latitude in interpreting the Act. Among these, the Fed’s mandate for stable prices is worth a closer look. The Fed interprets “stable prices” as a consistent rate of price increases or inflation. Per the Federal Reserve Bank of Chicago (https://www.chicagofed.org/research/dual-mandate/dual-mandate), “The Committee judges that inflation at the rate of 2 percent, as measured by the annual change in the price index for Personal Consumption Expenditures (PCE), is most consistent over the longer run with the Federal Reserve’s statutory mandate.”
Understanding why the wealth gap has exploded in recent years requires an appreciation for how this small but consistent rate of inflation harms the poor and middle class while simultaneously enriching the already wealthy.
Wealth is defined as that which is left after consumption and the accumulated results of those savings over time.
With that in mind consider inflation from the standpoint of those living paycheck to paycheck. These citizens are often paid on a bi-weekly basis and spend all of their income throughout the following two weeks. In an inflationary state, one’s purchasing power or the amount of goods and services that can be purchased per dollar declines as time progresses. Said differently, the value of work already completed declines over time. While the erosion of purchasing power is imperceptible in a low inflation environment, it is real and reduces what little wealth this class of workers earned. Endured over years, it has adverse effects on household wealth.
Now let’s focus on the wealthy. A large portion of their earnings are saved and invested, not predominately used to pay rent or put food on the table. While the value of their wealth is also subject to inflation, they offset the negative effects of inflation and increase real wealth by investing in ways that take advantage of rising inflation. Further, the Fed’s historically low-interest-rate policy, which supports 2% inflation, allows the more efficient use of financial leverage to increase wealth.
Some may counter that daily laborers living week to week get pay raises that offset inflation. That may be true, but it also assumes inflation is measured correctly. The Fed relies upon the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE) metrics as gauges of inflation. While widely accepted, we all have firsthand experience of the rapid rise in the cost of health care, higher education, rents, and many other essential goods and services that suggests far greater inflation than the Fed’s 2% objective. The truth is that inflation is not measurable with any real accuracy.
John Williams, of Shadow Stats, calculates inflation based on the methods used by the Bureau of Labor Statistics in 1980. Currently, his calculation has CPI running at 9.9% per year, much higher than the latest 2.2% CPI reported. The difference between Williams’ calculation and the BLS’ reported figure is caused by the numerous adjustments the BLS has made to the CPI calculation over the years which has reduced reported inflation. Economists argue that the BLS adjustments provide better accuracy. Maybe, but the record level of wealth inequality and public dissatisfaction offers hard evidence to the contrary. Disagreements notwithstanding, the loss of wealth due to inflation, whether at 2% or 10%, is punishing for those spending everything as it limits their ability to save and accumulate wealth.
Economic growth as measured by Gross Domestic Production (GDP (https://realinvestmentadvice.com/stock/gdp)) is the holy grail of all measures of economic advancement. Rising GDP in a debt-based economy depends on credit growth which explains why inflation is so important to policy-makers. The logical conclusion is that the Fed’s primary purpose for running a consistent rate of inflation is to foster credit growth. The growth of credit benefits those who have collateral to borrow against, employ leverage and invest. Again, it is the wealthy that benefit from this. For everyone else, it is a merciless master that makes it difficult if not impossible to maintain one’s standard of living.
The more of one’s wealth that is used for consumption, the more one is subject to the ills of inflation. Additionally, this circumstance also drives a negative feedback loop in that inflation also quietly incents people to consume since goods and services will be more expensive tomorrow than they are today.
While we illustrate the extremes in this article, one can envision how the middle class, which increasingly spend the majority of their wages on consumption and invest little or nothing, also fall into the inflation trap.
Summary The central banking scheme of supporting economic growth through increasing levels of debt only makes sense if “growth at all cost” uniformly benefits all citizens, but it does not. There is a big difference between growth and prosperity. Furthermore, an inflationary policy that aims to minimize the burden of debt while at the same time aggravating the growth of those burdens is taking a serious toll on global economic and social stability.
As we are finding, the United States is not immune to these disruptions. The source of these problems are accumulating and compounding as a result of the public’s failure to understand why it is happening. This will ultimately lead to further policy-making errors. Until the Fed’s policies are publicly discussed, re-examined and ultimately reconsidered, the problems will not resolve themselves.


https://www.zerohedge.com/news/2019-01-23/two-percent-one-percent

[Swordsmyth]

https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/income-percentile7-17.png

https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/income-real-quintile7-17a.png

[Swordsmyth]

Kang Sung-il buys Sancho, his Pomeranian, a toy every business trip and this Lunar New Year holiday will dress him up in a new $50 suit to visit ‘grandma’, Kang’s mother.

Kang and his wife say children are too expensive and bring too much pressure. Instead they have opted to shower Sancho with love and gifts.
They are not alone. South Korea’s pet industry is booming, fueled by the same factors that have made the country’s birth rate, at 1.05 births per woman, the lowest in the world: the high cost of education and housing as well as extremely long working days.
“Social pressures in South Korea are such that parents are required to provide resources for decades from private schooling to tutoring to art classes,” said Kang, a 39-year old manager of a pet funeral home.
He says he found it hard to imagine being able to afford all that but is happy to spend about 100,000 won ($90) a month on Sancho.
On top of education expenses, an average South Korean household must budget roughly 12.8 years of income to buy a mid-range home, compared to 8.8 years in 2014, data from KB Kookmin Bank shows. Adding to their stress, South Koreans work the third most hours per year among OECD nations, lagging just Mexico and Costa Rica.


“The pet population is growing as more people choose not to have babies or even not to marry,” said Kim Soo-kyung, manager at Samjong KPMG Economic Research Institute.
Pet-owning households have surged to 28 percent of all South Korean households in 2018, compared with 18 percent in 2012, government data shows.
That in turn has spurred a flourishing pet care industry whose offerings include tailored pet diets and high-priced photo shoots. Pet-related startups are also in vogue with venture capitalists.
The South Korean pet-related industry was worth 2.7 trillion won ($2.4 billion) last year, and that could more than double in size by 2027, according to the Korea Rural Economic Institute.

More at: https://www.reuters.com/article/us-southkorea-economy-pets/like-a-son-but-cheaper-harried-south-koreans-pamper-pets-instead-of-having-kids-idUSKCN1PI029?il=0

[Swordsmyth]

According to recent studies, the vast majority of the American middle class is only one missed paycheck away from poverty. About 78% of workers in the United States are living paycheck to paycheck, and the statistics don’t improve from there.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Dollarphotoclub_72622943-e1537554773444.jpg
Only 39% of Americans actually have saved enough money to cover a $1000 emergency. Nearly 3 in 4 workers say they are in debt and of those, more than half think they always will be, according to statistics posted by Forbes (https://www.forbes.com/sites/zackfriedman/2019/01/11/live-paycheck-to-paycheck-government-shutdown/#13b3970d4f10). Any rise in interest rates or the cost of food could leave some Americans with the tough choice of eating or paying the car payment to get to work.
A similar 2016 GOBankingRates survey found that 69 percent of Americans had less than $1,000 in total savings (https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html) and 34 percent had no savings at all. That means many Americans would have to put an emergency expense on a credit card or borrow money another way just to cover the cost of a $1000 expense.
Making matters worse, the 2017 Report on the Economic Wellbeing of US Households (https://www.federalreserve.gov/publications/2018-economic-well-being-of-us-households-in-2017-preface.htm) stated that, when asked how they would cover an emergency expense of $400, only 59% of Americans said they could easily cover the expense using entirely cash, savings, or a credit card paid off at the next statement. But “four in ten adults would either borrow, sell something or not be able to pay” if faced with a $400 emergency expense.


Forbes reported (https://www.forbes.com/sites/bowmanmarsico/2019/01/24/living-paycheck-to-paycheck-what-the-polls-show/#68ec844a132b) that even without an unexpected expense, according to the Fed’s report, one in five (22%) can’t cover all their current month’s bills, and one in four skipped a medical treatment in the past year due to an inability to pay. Some of those use credit cards in between paychecks (http://www.shtfplan.com/headline-news/new-uk-survey-shows-just-how-hard-it-is-to-make-ends-meetb_09202017) to scrape by and many know that they will be unable to pay back the money they have already borrowed. (http://www.shtfplan.com/precious-metals/going-out-with-a-bang-americans-using-credit-cards-they-cant-pay-back_09132010)

More at: https://www.zerohedge.com/news/2019-02-07/living-paycheck-paycheck-new-crisis-and-normal-american-middle-class

[Swordsmyth]

Debt has become an issue of concern for those who care about their financial future. But with the government setting the terrible example of drastically spending more than they bring in, many in America are following suit and it is leading to a crisis and a red flag for the economy.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/https___s3-us-west-2.amazonaws_2.jpg
Just on the heels of the United States government’s debt surpassing $22 trillion comes the news that there are now a record number of Americans who are behind on their record high car payments. According to CNBC (https://www.cnbc.com/2019/02/12/a-record-number-of-americans-are-90-days-behind-on-their-car-payments.html), more than 7 million Americans are at least 90 days behind on their auto loans, according to the New York Fed. This is a major concern, considering the average car payment in the U.S. is now $523 (https://www.cnbc.com/2018/05/31/a-523-monthly-payment-is-the-new-standard-for-car-buyers.html).
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/385658.jpg
“More and more people are buying too much car for what they can afford,” said Ed Mierzwinski, senior director of U.S. PIRG’s federal consumer program. Overall, auto debt accounts for about 9 percent of total U.S. consumer debt (https://www.cnbc.com/2019/02/13/explosion-in-auto-debt-threatens-consumer-finances-advocacy-group-says.html), up from 6 percent in late 2011, separate data from the Federal Reserve Bank of Kansas City show.
The amount of Americans currently in default of their car loans is higher than in 2010 when many were still reeling from the 2008 Great Recession, a statistic that is once again, showing that the U.S. economy may not be nearly as strong as the media’s talking heads present.

The “number of distressed borrowers suggests that not all Americans have benefited from the strong labor market and warrants continued monitoring and analysis of this sector,” Fed economists say.
Auto debt has soared and with that comes people who cannot pay the bill they signed up for. The dramatic uptick in delinquencies came along with a dramatic $584 billion jump in total auto loan debt. That’s the highest increase in car debt since the New York Fed began keeping track 19 years ago. (https://www.cnbc.com/2019/02/12/a-record-number-of-americans-are-90-days-behind-on-their-car-payments.html)

Overall, household debt rose by $32 billion, or 0.2 percent, to $13.54 trillion in the fourth quarter. That’s $869 billion higher than the crisis peak of $12.68 trillion and is 21.4 percent above the post-crisis low point in the second quarter of 2013.
Student loan debt edged higher to $1.46 trillion while credit card balances rose to $870 billion, right around their crisis peak. –CNBC (https://www.cnbc.com/2019/02/12/a-record-number-of-americans-are-90-days-behind-on-their-car-payments.html)
These delinquencies also come as Americans grapple with record levels of consumer debt (http://www.shtfplan.com/headline-news/u-s-consumers-on-an-unprecedented-debt-binge-as-credit-card-debt-soars-to-an-all-time-record-high_07132018) and student loan debt (http://www.shtfplan.com/headline-news/the-great-student-loan-debt-default-over-270-billion-in-loans-are-30-days-or-more-past-due_03262012). In a report issued Wednesday, U.S. PIRG warns that the continuing rise in auto debt is putting many consumers in a financially vulnerable position, which could worsen during an economic downturn. Coupled with consumer and student loan debt, Americans are staring a crisis in the face.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/DzOJE1UWwAAJJsc.jpg
Overall debt carried by Americans also set off red flags as that number ticked up.Americans now owe a record $13.5 trillion (https://www.newsmax.com/finance/personal-finance/americans-debt-record-high/2019/02/12/id/902376/)and global debt is also a concern. (http://www.shtfplan.com/headline-news/the-world-is-now-217000000000000-in-debt-and-the-global-elite-like-it-that-way_06302017)

https://www.zerohedge.com/news/2019-02-13/debt-crisis-america-record-number-americans-are-behind-car-payments

[invisible]

But wait a second! How can the US be so poor, when according to statements here, we're hated and attacked and invaded by barbarians because we're so rich?

Here is only one of many examples contained in this thread:
http://www.ronpaulforums.com/showthread.php?531356-Gallup-Five-Million-Latin-Americans-Coming-to-U-S-in-Next-12-Months/page12

They don't come here because we are poor, they come here because we are rich and then they vote to destroy the very prosperity that attracted them with communism.

Please explain why they come here if it isn't the prosperity.

So, either all the articles in this thread are correct and we are poor, or the statements in the other thread are correct and we're rich! Am I the only one here who isn't a millioniare? Or are we only rich when it suits someone's agenda, and otherwise we're poor?

[Swordsmyth]

But wait a second! How can the US be so poor, when according to statements here, we're hated and attacked and invaded by barbarians because we're so rich?

Here is only one of many examples contained in this thread:
http://www.ronpaulforums.com/showthread.php?531356-Gallup-Five-Million-Latin-Americans-Coming-to-U-S-in-Next-12-Months/page12


So, either all the articles in this thread are correct and we are poor, or the statements in the other thread are correct and we're rich! Am I the only one here who isn't a millioniare? Or are we only rich when it suits someone's agenda, and otherwise we're poor?
Not everyone is rich, if you bothered to read the articles you would know that our society as a whole still is much richer than other societies but the rich and powerful have conspired with the welfare trash and hostile foreigners to steal an ever larger slice of the pie for themselves.

Thanks for playing.

[invisible]

Not everyone is rich, if you bothered to read the articles you would know that our society as a whole still is much richer than other societies but the rich and powerful have conspired with the welfare trash and hostile foreigners to steal an ever larger slice of the pie for themselves.

So the rich, the welfare checkers, and hostile foreigners are all in a conspiracy to steal from us, because we're rich but not everyone is rich? Hostile foreigners? Wouldn't that imply that non-hostile foreigners also exist?

[angelatc]

http://realinvestmentadvice.com/wp-content/uploads/2017/04/Old-vs-Young-Population-040417.png (http://realinvestmentadvice.com/wp-content/uploads/2017/04/Old-vs-Young-Population-040417.png)
The problem for American families today, despite media commentary to the contrary, is simply the inability to maintain their current standard of living. When incomes remain stagnant, or falls, due to job loss or reduction in pay, the impact on the budget at home is significant when there are already very low saving rates and the inability to access a tight credit market. The recent surge in consumer debt, with little relative increase in overall personal consumption expenditures, shows this to be the case. For Main Street, the economy remains mired at sub-par growth rates ten-years into a post-recessionary environment.

More at: https://www.zerohedge.com/news/2018-03-05/sex-money-happiness

This cuts off at 2011. The millennial are the largest generation in history - bigger than the Boomers. (http://www.pewresearch.org/fact-tank/2018/03/01/millennials-overtake-baby-boomers/) This old v young ratio should be reversing if that's the case. Provided there's enough of them not gay enough to make babies, that is.

[Swordsmyth]

So the rich, the welfare checkers, and hostile foreigners are all in a conspiracy to steal from us, because we're rich but not everyone is rich?
Not because we are rich, because we were rich and because we still produce great wealth attempting to get back to being rich.


Hostile foreigners? Wouldn't that imply that non-hostile foreigners also exist?
Yes, but without the ability to read minds we have a limited ability to find them so we must be cautious and limit the size of any bets we place on them.

[Swordsmyth]

This cuts off at 2011. The millennial are the largest generation in history - bigger than the Boomers. (http://www.pewresearch.org/fact-tank/2018/03/01/millennials-overtake-baby-boomers/) This old v young ratio should be reversing if that's the case. Provided there's enough of them not gay enough to make babies, that is.

That and the other factors (like poverty {particularly a declining standard of living as opposed to static poverty}) that discourage child rearing.

[Swordsmyth]

Our health insurance system is theoretically supposed to prevent Americans from going bankrupt when they are hit by huge medical bills.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Where-Is-My-Health-Insurance-Public-Domain.jpg
But in case after case, that is simply not happening.
Even though more Americans are “covered by health insurance” than ever before, a new study has found that “about 530,000 families each year are financially ruined by medical bills and sicknesses”, and most of those families actually had health insurance.
These days, most health insurance policies closely resemble Swiss cheese because they are so full of loopholes, and health insurance companies have become masters at finding ways to wiggle off the hook. So every year hundreds of thousands of American families find themselves facing huge medical bills that they did not expect to be paying, and as a result medical expenses are the primary factor in 66.5 percent (https://www.studyfinds.org/two-thirds-of-all-american-bankruptcies-are-due-to-medical-expenses-study-finds/) of all personal bankruptcy filings in the United States…

For many Americans, putting one’s health first can mean putting one’s financial status at risk. A study of bankruptcy filings in the United States showed that 66.5% were due, at least in part, to medical expenses.
The study, led by Dr. David Himmelstein, Distinguished Professor at the City University of New York’s (CUNY) Hunter College and Lecturer at Harvard Medical School, indicates that about 530,000 families each year are financially ruined by medical bills and sicknesses. It’s the first research of its kind to link medical expenses and bankruptcy since the passage of the Affordable Care Act (ACA) in 2010.
But wasn’t Obamacare supposed to make things better?
Yes, that was what we were promised, but the authors of the study discovered that the percentage of bankruptcies caused by medical bills actually went up by 2 percent (http://pnhp.org/news/new-medical-bankruptcy-study-two-thirds-of-filers-cite-illness-and-medical-bills-as-contributors-to-financial-ruin/) after Obamacare went into effect…

The current study found no evidence that the ACA reduced the proportion of bankruptcies driven by medical problems: 65.5% of debtors cited a medical contributor to their bankruptcy in the period prior to the ACA’s implementation as compared to 67.5% in the three years after the law came into effect. The responses also did not differ depending on whether the respondent resided in a state that had accepted ACA’s Medicaid expansion. The researchers noted that bankruptcy is most common among middle-class Americans, who have faced increasing copayments and deductibles in recent years despite the ACA. The poor, who were most helped by the ACA, less frequently seek formal bankruptcy relief because they have few assets (such as a home) to protect and face particular difficulty in securing the legal help needed to navigate formal bankruptcy proceedings.
Even though more Americans are “in the system” than ever before, clearly what we are doing is simply not working.
As I detailed in my article entitled “$3.5 Trillion A Year: America’s Health Care System Has Become One Of The World’s Largest Money Making Scams” (http://theeconomiccollapseblog.com/archives/3-5-trillion-a-year-americas-health-care-system-has-become-one-of-the-worlds-largest-money-making-scams), our health care industry has become all about grabbing as much money as humanly possible. We are being taken advantage of when we are at our most vulnerable, and the level of greed that we see in the system is absolutely sickening.
As Dr. David Himmelstein has astutely observed (http://pnhp.org/news/new-medical-bankruptcy-study-two-thirds-of-filers-cite-illness-and-medical-bills-as-contributors-to-financial-ruin/), most Americans are “just one serious illness away from bankruptcy”…

Dr. David Himmelstein, the lead author of the study, a Distinguished Professor at the City University of New York’s (CUNY) Hunter College and Lecturer at Harvard Medical School commented: “Unless you’re Bill Gates, you’re just one serious illness away from bankruptcy. For middle-class Americans, health insurance offers little protection. Most of us have policies with so many loopholes, copayments and deductibles that illness can put you in the poorhouse. And even the best job-based health insurance often vanishes when prolonged illness causes job loss – just when families need it most.”
You may think that your health insurance policy is somehow different.
You may actually believe that your health insurance company will be there for you when you need them the most.
And they might be. But the truth is that hundreds of thousands of American families have discovered that most health insurance companies will turn on you the moment it becomes advantageous for them to do so.


More at: https://www.zerohedge.com/news/2019-02-14/two-thirds-all-us-bankruptcies-are-primarily-caused-medical-bills-new-study-finds

[Swordsmyth]

As we reported last week (https://schiffgold.com/key-gold-news/a-record-number-of-americans-are-delinquent-on-their-car-payments/), a record 7 million Americans have fallen 90 days or more behind on their auto loan payments.
That’s 1 million more than the previous peak in auto loan delinquencies in 2010. But as Wolf Street points out, there is a big difference between then and now.
“Serious auto-loan delinquencies are now on par with Q2 2009 when millions of people had lost their jobs and when the economy was in free-fall. But today unemployment is low and the economy appears to be humming. What gives? “
Currently, there is about $1.3 trillion in auto loans outstanding. Looking at auto loan delinquencies in terms of a percentage of the total outstanding, the number hit 4.5% at the end of 2018. This is the same percentage as in the second quarter of 2009 as the economy was feeling the full effect of the 2008 crash.
Wolf Richter of Wolf Street highlighted some of the reasons for the surge in auto loan delinquencies in a recent episode of the Wolf Street Report.


In the first place, a lot of Americans are struggling with their jobs.
“While the unemployment rate is at around 4% and has been as low as 3.7%, there are many pockets of weakness in the labor market. A lot of people have gig work. A lot of people are underpaid. Their wages have not gone up with inflation. People have been discouraged and they’re not participating in the labor force anymore, and so they don’t show up in unemployment figures. So, there are many weaknesses in this labor market.”

Even so, Richter said it’s still the “cleanest dirty shirt of the labor market” we’ve had in a number of years, so the labor market itself cannot completely explain the surge in auto loan delinquencies.

A second issue is the rapidly rising cost of new cars. The average price of a new vehicle is now around $36,000. This represents a significant increase in the cost of vehicles and there has not been a corresponding rise in wages. Subprime borrowers face a double whammy. They not only have to pay the higher price; they also get hit with a higher interest rate.

More at: https://www.infowars.com/labor-market-crisis-wages-not-rising-with-inflation/

[Aratus]

Bump...

[Swordsmyth]

The wave of populism/socialism/proto-fascism that’s sweeping the US and Europe is a direct result of the breathtaking hubris of a ruling class that didn’t know when to quit stealing.
While it is possible for societies dominated by a small group of rich/connected people to endure and even thrive, they can do so only if the 99% enjoys a rising standard of living and a certain amount of upward mobility. In other words, people will accept the existence of an entrenched elite as long as everyone else does a little better each year.
Today that’s not the case. The current crop of aristocrats (Google “Davos World Economic Forum images” (https://duckduckgo.com/?q=davos+world+economic+forum+images&atb=v103-1__&iar=images&iax=images&ia=images) for faces to go with the concept) are now simply harvesting the wealth of their subjects without much thought for their own vulnerability.
For an easy-to-grasp example of how this works, look at interest rates. Over the past couple of decades, the world’s central banks have been pushing rates lower in each cycle, impoverishing small savers and retirees who depend on income from bonds and bank accounts while enriching the already rich by raising the prices of stocks and real estate. The following two charts (from Charles Hugh Smith’s recent Who Killed The Middle Class? (http://charleshughsmith.blogspot.com/2019/03/what-killed-middle-class.html)) illustrate the widening gap between the pay and assets of the haves and the used-to-haves. To put this in economist-speak, capital is gobbling up labor.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Wage-gap-March-19.jpg
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Wages-to-GDP-March-19.jpg

More at: https://www.zerohedge.com/news/2019-03-07/poetic-justice-aristocracy

[Swordsmyth]

Even at a time of low interest rates and rising wages, Americans simply can’t afford a home in more than 70% of the country, according to CBS (https://www.cbsnews.com/news/housing-market-2019-americans-cant-afford-a-home-in-70-percent-of-the-country/). Out of 473 US counties that were analyzed in a recent report, 335 listed median home prices were more than what average wage earners could afford. According to the report from ATTOM Data Solutions, these counties included Los Angeles and San Diego in California, as well as places like Maricopa County in Arizona.
New York City claimed the largest share of a person's income to purchase a home. While on average, earners nationwide needed to spend only about 33% of their income on a home, residents in Brooklyn and Manhattan need to shell out more than 115% of their income. In San Francisco this number is about 103%. Homes were found to be affordable in places like Chicago, Houston and Philadelphia.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/morons_2.jpg

This news is stunning because homes are considerably more affordable today than they were a year ago. Although prices are rising in many areas, they are also falling in places like Manhattan. Unaffordability in the market has been the result of slower home building and owners staying in their homes longer. Both have reduced the supply of homes in the market.
And the market may continue to create better conditions for buyers. Affordability could improve because of the fact that homes are out of reach for so many seekers, according to Todd Teta, chief product officer at ATTOM Data Solutions. Today’s market is also more affordable than it was a decade ago, before the crisis. Home prices were about the same prior to the crisis, even though income adjusted for inflation was lower.

"What kept the market going was looser lending standards, so that was compensating for affordability issues," Teta said. Since then, standards have toughened (for now, at least).
We recently wrote about (https://www.zerohedge.com/news/2019-03-21/41-new-york-residents-say-they-can-no-longer-afford-live-there) residents of New York City who simply claimed they couldn’t afford to live there.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/apartments%20for%20rent%20new%20york.jpg
More than a third of New York residents (https://nypost.com/2019/03/20/more-than-a-third-of-new-yorkers-say-they-cant-afford-to-live-here/)complained that they "can't afford to live there" anymore (and yet they do). On top of that, many believe that economic hardships are going to force them to leave the city in five years or less, according to a Quinnipiac poll published a couple weeks ago. The poll surveyed 1,216 voters between March 13 and 18.
In total, 41% of New York residents said they couldn't cope with the city's high cost of living. They believe they will be forced to go somewhere where the "economic climate is more welcoming", according to the report.
Ari Buitron, a 49-year-old paralegal from Queens said:

“They are making this city a city for the wealthy, and they are really choking out the middle class. A lot of my friends have had to move to Florida, Texas, Oregon. You go to your local shop, and it’s $5 for a gallon of milk and $13 for shampoo. Do you know how much a one-bedroom, one-bathroom apartment is? $1700! What’s wrong with this picture?”





https://www.zerohedge.com/news/2019-03-30/americans-cant-afford-buy-home-70-country

[Swordsmyth]

25% Of Millennials No Longer Having Sex Due To Financial Problems (https://www.zerohedge.com/news/2019-04-02/25-millennials-no-longer-having-sex-due-financial-problems)

[Swordsmyth]

Home sales in the US have slowed dramatically (https://www.zerohedge.com/news/2019-02-21/existing-home-sales-crash-accelerates-buyers-cant-afford-house) over the past year - and in some markets, like tony Manhattan, they have virtually ground to a halt (https://www.zerohedge.com/news/2019-04-03/manhattan-housing-market-its-worst-cold-streak-30-years) - as high prices and a shortage of affordable inventory have squeezed cash-strapped young buyers.
But unfortunately for the average renter (a group that includes the bulk of millennials who don't still live with their parents), this housing market weakness hasn't translated to lower rents. In fact, in March, the average national rent increased by 3.2% YoY to $1,430 (up $44) to a fresh all-time high. What's worse, the increases were spread throughout the country, with 92% of the 253 largest cities in the US registering an increase in the average rent paid, while 6% of cities registered no change, and rents dropped in just 2% of cities, according to data from the Yardi Matrix published by RentCafe.com (https://www.rentcafe.com/blog/rental-market/average-national-apartment-rent-kicks-off-spring-rental-season-1430/).
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202019-04-08%20at%202.12.38%20PM.png
On a monthly basis, rents climbed 0.3% (or $4), which was in line with last year's rate for March. And unfortunately for all of those cash-strapped creatives living in Brooklyn, the 20 largest rental markets in the US continued to see robust price appreciation, with the average rent in the borough climbing to $2,860. Manhattan's rental market remained the most expensive in the country, with the average rent a staggering $4,141.


While coastal enclaves like San Francisco and NYC continued to dominate the most expensive list, cities in the South and Midwest remained the most affordable markets, with Wichita, Kansas claiming the title of most affordable city for renters, with an average rent of just $645.
Here's a map of the biggest increases and decreases for small cities...
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202019-04-08%20at%202.22.07%20PM.png
...mid-sized cities...
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202019-04-08%20at%202.22.12%20PM.png
...and large cities...
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202019-04-08%20at%202.22.18%20PM.png
...And the official ranking of the 20 most unaffordable (and affordable) rental markets:
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Screen%20Shot%202019-04-08%20at%202.01.54%20PM.png
Average rents in the US have continued their push to all-time highs...but the Federal Reserve is still convinced that there's no inflation in the economy?


https://www.zerohedge.com/news/2019-04-08/american-rents-climb-record-highs-despite-slump-home-sales

[Swordsmyth]

New data from the Federal Reserve detailing citizens' net worth shows that the issue of being "left behind" has now spread to all Americans aside from the top 10%, according to Bloomberg (https://www.bloomberg.com/news/articles/2019-04-13/america-s-upper-middle-class-feeling-the-pinch-too?srnd=premium). This means that even the upper middle class is starting to feel the pain of income stagnation. The growth of upper middle class income continues to lag behind that of those both lower and higher than them on the socioeconomic ladder, according to the data.
The cost of many items purchased by the upper middle class, including things like college education and cars, is outpacing inflation. That is causing upper middle class households to tap into more expensive forms of debt. The debt these households is taking on is shifting from mortgages to credit with higher financing costs.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/cw1.png
In addition, the overall middle class' share of total income is falling (https://www.bloomberg.com/news/articles/2019-04-10/there-s-a-middle-class-threat-to-the-fabric-of-global-economy?srnd=economics-vp) while home prices have increased faster than median incomes.


The Organization for Economic Cooperation and Development said: “The middle class is increasingly only a dream for many. This bedrock of our democracies and economic growth is not as stable as in the past.”
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/soja%201.png
Credit card rates recently hit a "generational high" despite the low prime rate. The spread between the prime rate and credit card interest rates is at its highest point in almost 10 years.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/cw2.png
2018 property taxes rose by 4% annually, on average, according to an analysis of more than 87 million U.S. single family homes by ATTOM Data Solutions.
Todd Teta, chief product officer for ATTOM Data Solutions said (https://www.attomdata.com/news/market-trends/attom-data-solutions-2018-property-tax-analysis/): “Property taxes levied on homeowners rose again in 2018 across most of the country. While many states across the country have imposed caps on how much taxes can go up, which probably contributed to a slower increase in 2018 versus 2017. There are still many factors at play that can contribute to local property tax hikes, and without major changes in the way a community runs public services, tax rates must rise to pay for them.”
Only incomes in the top 25% were able to outpace this rate on an annual basis, according to the Atlanta Fed. For everyone else, a greater share of income must be allocated to property taxes, leaving less to spend on everything else.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/cw3.png
Equity ownership in companies, both public and private, is also sliding for the upper middle class. The share of equity ownership for citizens in the 50th to 90th percentile of net worth has fallen and the top 1% of Americans still own the majority of shares.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/cw%204.png
By the end of 2018, net worth as a share of the U.S. total had shrunk considerably for the upper middle class. During the course of just one generation, U.S. wealth held by households from the 50th to the 90th percentile fell from 35.2% of the total to 29.1%. Most of this wealth has been transferred to the top 1% of U.S. households.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/cw%205.png
The Organization for Economic Cooperation and Development has said that the middle class is "essential" for growth and countries where it thrives are healthier, more stable, better educated and have lower crime rates while boasting higher life satisfaction.
The OECD defines middle class as households with incomes between 75% and and 200% of the national median. Over the last 3 decades, incomes have increased 33% less than the average of the richest 10%, according to the OECD. Real income of the middle class has grown only 0.3% a year since the financial crisis.
Stefano Scarpetta, OECD director of employment, labor and social affairs said: "There is a risk of a spiral to the extent that the middle class is the one main sources of political and economic stability."
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/oed%202.png
Rising to the middle class is also getting tougher. More skills are needed, as more than 50% of middle income workers are now in high skilled occupations, up from about 33% two decades ago.
“It’s a wake up call. Overall there is a need to really focus on targeted policy intervention for those with specific problems. General policies may not work very well,” Scarpetta concluded.


https://www.zerohedge.com/news/2019-04-14/its-wake-call-7-charts-clearly-show-middle-class-being-left-behind

[enhanced_deficit]

They've stolen our future to pay for the wars of the present.

Well said. Neoconish mindset is short sighted to say the least.
I still recall Bush-Cheney America-Firster cheerleading fakenews medai headlines like "Iraq war will cost only $50B".



Suicide rates are up 30 percent since 1999, CDC says (http://www.ronpaulforums.com/showthread.php?523054-Suicide-rates-are-up-30-percent-since-1999-CDC-says)


Wonder if there has been any statistcal analysis how much impact neoconish/interventionist mindset had had on this deadly trend.

30 percent of Iraq, Afghanistan veterans have mulled suicide: survey (http://www.ronpaulforums.com/showthread.php?424197-30-percent-of-Iraq-Afghanistan-veterans-have-mulled-suicide-survey&)

One Million US Veterans Are In Prison, 22 Commit Suicide Every Day (http://www.ronpaulforums.com/showthread.php?472727-One-Million-US-Veterans-Are-In-Prison-22-Commit-Suicide-Every-Day&)



Just two months of stress may damage a man's sperm and slash his chances of having children, a new study suggests.
Israeli scientists found men are 47 per cent more likely to have swimmers with weak motility if they are under intense pressure.
Weak motility – known to be affected by lifestyle choices - makes it less likely that the sperm will successfully fertilise an egg.
The findings were derived from 11,000 sperm samples, including those of adults exposed to 'regular rocket warning sirens' in the Gaza Strip.

Researchers at Ben-Gurion University of the Negev and Soroka University Medical Center in Beer-Sheva led the study.
They analysed 10,535 sperm samples donated by men during periods in Israel deemed ‘unstressful’ between 2009 and 2017.
These were then compared to 659 samples from men take up to two months after fierce military battles between Israel and Gaza.


EM.
That's an interesting finding. Outside of orthdox folks, Israel has had lower fertility rate than Palestinians. Does it mean Palestinians have lower stress than their Israeli counterparts?
US tax payers funded free abortions in Israel may have played a role too.
Not clear if it being a mecca of gay tourism in mideast also contributes to the 'lifestyle choices' being cited, according to most left leaning researches such 'lifestyle choices' are not choices.
This reminded of post from another discussion:



This is continuation of 'Barack Hussein Obama diversity' that majority of voters deemed needed post Iraqi Freedom, such strong was blow of that war's impact on American public's psyche.
Is Iraq Freedom effect over already? Doesn't seem that way looking at recent electoral trends. In coming years effects of Libya/Gaza/Syria freedom wars on top of Iraq may even accelerate this phenomenon and muslims could become second largest religious group in Congress/Senate behind Christians within a generation considering sharp demographic influx/wars refugees from mideast, higher fertility rate, stigma on abortion etc within muslim demographics in general.

[DamianTV]

Well said. Neoconish mindset is short sighted to say the least.
I still recall Bush-Cheney America-Firster cheerleading fakenews medai headlines like "Iraq war will cost only $50B".

...

Only 50 Billion... in Fiat Currency. Once a country goes to a FULL Fiat Currency, that country is pretty much doomed. Every Empire has done this to pay for its endless wars of perpetual expansion and only manages to kill itself in the process.

[r3volution 3.0]

I don't know that the decline in birthrates in the West constitutes a "problem."

There is, however, an economic problem, and that is a product of the West's relentless quest for (more) socialism, evidenced at every election.

This is what the OP's charts illustrate.

[Swordsmyth]

The Netherlands Central Bank has just published a fascinating new paper, titled "Monetary policy and the top one percent: Evidence from a century of modern economic history".

Authored by Mehdi El Herradi and Aurélien Leroy, (Working Paper No. 632, De Nederlandsche Bank NV (https://www.dnb.nl/en/binaries/Working%20paper%20No.%20632_tcm47-383633.pdf)), the paper "examines the distributional implications of monetary policy from a long-run perspective with data spanning a century of modern economic history in 12 advanced economies between 1920 and 2015, ...estimating the dynamic responses of the top 1% income share to a monetary policy shock."
The authors "exploit the implications of the macroeconomic policy trilemma to identify exogenous variations in monetary conditions." Note: the macroeconomic policy trilemma "states that a country cannot simultaneously achieve free capital mobility, a fixed exchange rate and independent monetary policy".
Per authors:

"The central idea that guided this paper’s argument is that the existing literature considers the distributional effects of monetary policy using data on inequality over a short period of time. However, inequalities tend to vary more in the medium-to-long run. We address this shortcoming by studying how changes in monetary policy stance over a century impacted the income distribution while controlling for the determinants of inequality."
They find that "loose monetary conditions strongly increase the top one percent’s income and vice versa. In fact, following an expansionary monetary policy shock, the share of national income held by the richest 1 percent increases by approximately 1 to 6 percentage points, according to estimates from the Panel VAR and Local Projections (LP).
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-05-05_3-03-20.jpg
This effect is statistically significant in the medium run and economically considerable."
The authors also demonstrate that:

"the increase in top 1 percent’s share is arguably the result of higher asset prices. The baseline results hold under a battery of robustness checks, which (i) consider an alternative inequality measure, (ii) exclude the U.S. economy from the sample, (iii) specifically focus on the post-WWII period, (iv) remove control variables and (v) test different lag numbers. Furthermore, the regime-switching version of our model indicates that our conclusions are robust, regardless of the state of the economy."
In other words, accommodative monetary policies accommodate primarily those with significant starting wealth, and they do so via sate price inflation.

https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/photo_84237_landscape_650x433.jpg

Behold the summary of the last 10 years.


https://www.zerohedge.com/news/2019-05-05/dutch-central-bank-admits-rich-get-richer-when-we-print-money

[Swordsmyth]

Nearly 25% of Americans are going into debt trying to pay for necessities like food (https://www.cnbc.com/2019/05/23/nearly-25-percent-of-americans-are-going-into-debt-trying-to-pay-for-necessities.html)

[Swordsmyth]

More than half of families in the US live in “asset poverty.” A recent study (https://www.sciencedirect.com/science/article/pii/S0190740918305759) found that more than 63 percent of American children and 55 percent of Americans live in “asset poverty”. This means they have few or no assets to rely on in the event of a financial emergency (https://www.theorganicprepper.com/financially-prepared-8-emergencies/)such as a job loss, a medical crisis, recessions, or natural disasters.
In a press release (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows), study co-author David Rothwell (http://health.oregonstate.edu/people/david-rothwell), an assistant professor in OSU’s College of Public Health and Human Sciences, (http://health.oregonstate.edu/) explained that when families lack assets such as vehicles, homes, savings accounts or investments, surviving a financial crisis is very difficult. “This is a dimension of financial security that we don’t think about that much, and it’s pretty high. The findings highlight the extent of financial insecurity among American families. These shocks ripple through the family and down to the children,” Rothwell said (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows).
The study was published in the journal Children and Youth Services Review (https://www.sciencedirect.com/science/article/pii/S0190740918305759) earlier this year. Co-authors are Timothy Ottusch of the University of Arizona and Jennifer Finders of Purdue University.
Living in poverty can have devastating impacts on children, as the press release (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows) explains:

Rothwell studies poverty and its impact on families and children. Experiencing poverty in childhood can have lifetime impacts for those children; past research has shown that children who grow up in poverty are more likely to struggle in school, have lower job earnings throughout life and experience family instability as adults.
A growing body of research suggests that parents’ asset levels also predict academic achievement, educational expectations, and the likelihood of college enrollment and graduation. Families with assets that can be used when income is disrupted are also likely to experience less financial stress and strain.
Yet asset poverty is higher than income poverty for children and families. In a 2018 study of Canadian families, researchers, including Rothwell, found that asset poverty was two to three times more prevalent than income poverty. Families can have adequate day-to-day funds but be asset-poor and would likely struggle during a financial shock. (source (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows))
Rent is becoming unaffordable for many Americans. According to the National Low Income Housing Coalition, renting is becoming increasingly unaffordable for many Americans. In its latest “Out of Reach” (https://reports.nlihc.org/oor) report, the organization explains that the struggle to find affordable housing is not limited to those earning minimum wage or the unemployed.
The report’s central statistic is the Housing Wage, which is an estimate of the hourly wage a full-time worker must earn to rent a home without spending more than 30 percent of income on housing costs. For 2019, the Housing Wage is $22.96 and $18.65 for a modest two and one-bedroom apartment respectively based on the “fair market rent”.
The average renter’s hourly wage is $1.08 less than the Housing Wage for a one-bedroom rental and $5.39 less than a two-bedroom rental. That means that an average renter in the U.S. has to work a 52 hour week. To put this in perspective, a median-wage worker in eight of the country’s largest ten occupations does not earn enough to afford a one-bedroom apartment.
An employee earning the federal minimum wage ($7.25 per hour) would have to work 127 hours every week (equivalent to more than two full-time jobs) to afford a two-bedroom apartment.
This is not just a regional issue. There isn’t a single state, metro area, or county in the U.S. where a full-time employee earning the minimum wage can afford to rent a two-bedroom property. To explore data for your area, enter your zip code in the box below the map on this page: Out of Reach 2019 (https://reports.nlihc.org/oor).
According to the report, the ten jobs that are expected to see the biggest growth over the coming decade are those that pay less than the wage needed to afford housing – and that is likely to result in an even greater disparity between wages and housing costs by 2026, as this infographic from Statista (https://www.statista.com/chart/18485/housing-wage-compared-to--median-hourly-wages/) illustrates:
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/chartoftheday_18485_housing_wage_compared_to_media n_hourly_wages_n.jpg


More at: https://www.zerohedge.com/news/2019-07-05/most-americans-cant-afford-pay-rent-eat-food-buy-stuff-or-get-sick-and-its-just

[Swordsmyth]

America's Record-Long "Expansion" Was Just The Rich Getting Richer As The Middle Class Died (https://www.zerohedge.com/news/2019-07-02/americas-record-long-expansion-was-just-rich-getting-richer-middle-class-died)

[AngryCanadian]

More than half of families in the US live in “asset poverty.” A recent study (https://www.sciencedirect.com/science/article/pii/S0190740918305759) found that more than 63 percent of American children and 55 percent of Americans live in “asset poverty”. This means they have few or no assets to rely on in the event of a financial emergency (https://www.theorganicprepper.com/financially-prepared-8-emergencies/)such as a job loss, a medical crisis, recessions, or natural disasters.
In a press release (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows), study co-author David Rothwell (http://health.oregonstate.edu/people/david-rothwell), an assistant professor in OSU’s College of Public Health and Human Sciences, (http://health.oregonstate.edu/) explained that when families lack assets such as vehicles, homes, savings accounts or investments, surviving a financial crisis is very difficult. “This is a dimension of financial security that we don’t think about that much, and it’s pretty high. The findings highlight the extent of financial insecurity among American families. These shocks ripple through the family and down to the children,” Rothwell said (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows).
The study was published in the journal Children and Youth Services Review (https://www.sciencedirect.com/science/article/pii/S0190740918305759) earlier this year. Co-authors are Timothy Ottusch of the University of Arizona and Jennifer Finders of Purdue University.
Living in poverty can have devastating impacts on children, as the press release (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows) explains:

Rothwell studies poverty and its impact on families and children. Experiencing poverty in childhood can have lifetime impacts for those children; past research has shown that children who grow up in poverty are more likely to struggle in school, have lower job earnings throughout life and experience family instability as adults.
A growing body of research suggests that parents’ asset levels also predict academic achievement, educational expectations, and the likelihood of college enrollment and graduation. Families with assets that can be used when income is disrupted are also likely to experience less financial stress and strain.
Yet asset poverty is higher than income poverty for children and families. In a 2018 study of Canadian families, researchers, including Rothwell, found that asset poverty was two to three times more prevalent than income poverty. Families can have adequate day-to-day funds but be asset-poor and would likely struggle during a financial shock. (source (https://today.oregonstate.edu/news/nearly-two-thirds-american-children-live-asset-poverty-new-study-shows))
Rent is becoming unaffordable for many Americans. According to the National Low Income Housing Coalition, renting is becoming increasingly unaffordable for many Americans. In its latest “Out of Reach” (https://reports.nlihc.org/oor) report, the organization explains that the struggle to find affordable housing is not limited to those earning minimum wage or the unemployed.
The report’s central statistic is the Housing Wage, which is an estimate of the hourly wage a full-time worker must earn to rent a home without spending more than 30 percent of income on housing costs. For 2019, the Housing Wage is $22.96 and $18.65 for a modest two and one-bedroom apartment respectively based on the “fair market rent”.
The average renter’s hourly wage is $1.08 less than the Housing Wage for a one-bedroom rental and $5.39 less than a two-bedroom rental. That means that an average renter in the U.S. has to work a 52 hour week. To put this in perspective, a median-wage worker in eight of the country’s largest ten occupations does not earn enough to afford a one-bedroom apartment.
An employee earning the federal minimum wage ($7.25 per hour) would have to work 127 hours every week (equivalent to more than two full-time jobs) to afford a two-bedroom apartment.
This is not just a regional issue. There isn’t a single state, metro area, or county in the U.S. where a full-time employee earning the minimum wage can afford to rent a two-bedroom property. To explore data for your area, enter your zip code in the box below the map on this page: Out of Reach 2019 (https://reports.nlihc.org/oor).
According to the report, the ten jobs that are expected to see the biggest growth over the coming decade are those that pay less than the wage needed to afford housing – and that is likely to result in an even greater disparity between wages and housing costs by 2026, as this infographic from Statista (https://www.statista.com/chart/18485/housing-wage-compared-to--median-hourly-wages/) illustrates:
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/chartoftheday_18485_housing_wage_compared_to_media n_hourly_wages_n.jpg


More at: https://www.zerohedge.com/news/2019-07-05/most-americans-cant-afford-pay-rent-eat-food-buy-stuff-or-get-sick-and-its-just


Rent is becoming unaffordable for many Americans.
Rent and high cost of living are also becoming a major problem for many Canadians to. Many polticans mostly on the left as well completely ignore the issue all together after they get voted in.
The have no problem pandering that they will fix rent and high cost of living once elected but once they step in the office they ignore it.

[Swordsmyth]

Rent and high cost of living are also becoming a major problem for many Canadians to. Many polticans mostly on the left as well completely ignore the issue all together after they get voted in.
The have no problem pandering that they will fix rent and high cost of living once elected but once they step in the office they ignore it.
They are either directly profiting from it or being bought by those who are.

[Swordsmyth]

Big Pharma continues to jack up the prices on the drugs they peddle. The price of one drug was hiked 879%, and that’s only ONE of the 3,400 price increases that have occurred so far this year.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bigpharmadrugsmoney-e1514911400385_1.jpg
Pharmaceutical companies raised the prices of more than 3,400 drugs in the first half of 2019, surpassing the number of drug hikes they imposed during the same period last year, according to an analysis first reported by NBC News (https://www.cbsnews.com/news/drug-prices-in-2019-are-surging-with-hikes-at-5-times-inflation/). While the average price increase per drug was 10.5%, a rate around five times that of inflation, about 40 of the drugs saw triple-digit increases. That includes a generic version of the antidepressant Prozac (https://www.shtfplan.com/headline-news/the-most-medicated-country-in-the-world-46-of-americans-have-taken-a-pharmaceutical-drug-within-the-last-30-days_05092019), which saw a price increase of 879%.


ARS Technica reported (https://arstechnica.com/science/2019/07/big-pharma-raising-drug-prices-even-more-in-2019-3400-hikes-as-high-as-879/) that the surge in price hikes comes amid ongoing public and political pressure to drag down the sky-rocketing price of drugs and healthcare costs overall. In May of 2018, President Donald Trump boldly announced that drug companies would unveil “voluntary massive drops in prices” within weeks, however, Big Pharma didn’t announce any big drops or actually reduce their prices. Trump then went on to publicly shame Pfizer for continuing to raise drug prices. The company responded with a short-lived pause (https://arstechnica.com/science/2018/07/pfizer-pauses-drug-prices-amid-pressure-from-trump-but-just-until-jan/) on drug price increases mid-way through last year, but it resumed increasing prices in January along with (https://arstechnica.com/science/2019/01/big-pharma-ushers-in-new-year-with-price-hikes-on-hundreds-of-drugs/) dozens of other pharmaceutical companies.

“Requests and public shaming haven’t worked,” Michael Rea, chief executive of RX Savings Solutions, told Reuters last December. (https://arstechnica.com/science/2019/07/big-pharma-raising-drug-prices-even-more-in-2019-3400-hikes-as-high-as-879/) His company helps health plans and employers seek lower-cost prescription medicines. It also conducted a new analysis of some drug prices.
It really isn’t a surprise that people are losing faith in western medicine in record numbers in favor of a more natural and holistic approach. (https://www.shtfplan.com/headline-news/5-fascinating-facts-about-cbd-you-need-to-know_06122019) Cost is certainly one problem, but many experience debilitating side effects from Big Pharma’s drugs – and they then seek relief from those side effects by using other drugs laced with different synthetic chemicals. It’s a vicious cycle, and no one should be surprised by the rise in things like herbal tinctures, (https://readynutrition.com/resources/balance-and-renew-hormones-naturally-with-these-apothecary-blended-tinctures_02052019/) medicinal teas, (https://readynutrition.com/resources/why-is-tea-so-calming-the-science-behind-the-psychology-of-tea_11022019/) and CBD oil. (https://www.organicanaturals.com/?ref=SHTFHealth)
The more than 3,400 drug price increases in the first half of 2019 is a 17% increase over the number of drug price hikes in the first half of 2018. So price increases are skyrocketing instead of going down. In addition to the Prozac generic, the drugs that saw triple-digit increases included the topical steroid Mometasone, which had a price increase of 381%. A pain reliever and cough medication (Promethazine/Codeine) saw a 326% hike while the ADHD treatment Guanfacine 2mg saw its price rise 118%.


More at: https://www.zerohedge.com/news/2019-07-10/big-pharma-hikes-drug-price-879-and-thats-just-one-3400-so-far-year

[UWDude]

They are either directly profiting from it or being bought by those who are.

I would hypothesize, there is a high correlation between people in real estate, and people in local politics.
This hypothesis occurred to me when reading the article about the man fined $30,000 for not mowing his lawn.
The new mayor just looked like a Real Estate agent, and fines went up 3000% since she took office.
I started thinking, "who in the hell ever runs for city council and mayor?" Most of the time, there isn't much idealism to compel someone to run for local office, so what other motive is there? I guess a coroner would be motivated by a bigger paycheck, or a sheriff by power, but city council? They had to be interested in zoning and real estate before they ran. A hypothesis for sure, but I'd be shocked if less than 50% of all city council members in America were not in real estate.

I also notice, none of these articles mention that an influx of new people, like the fact that 16% of the people in my state were not born in this country, might have something to do with skyrocketing housing prices.

Also, it is not mentioned that more and more people are not cohabiting.. ..married or otherwise.

[Swordsmyth]

I would hypothesize, there is a high correlation between people in real estate, and people in local politics.
This hypothesis occurred to me when reading the article about the man fined $30,000 for not mowing his lawn.
The new mayor just looked like a Real Estate agent, and fines went up 3000% since she took office.
I started thinking, "who in the hell ever runs for city council and mayor?" Most of the time, there isn't much idealism to compel someone to run for local office, so what other motive is there? I guess a coroner would be motivated by a bigger paycheck, or a sheriff by power, but city council? They had to be interested in zoning and real estate before they ran. A hypothesis for sure, but I'd be shocked if less than 50% of all city council members in America were not in real estate.

I also notice, none of these articles mention that an influx of new people, like the fact that 16% of the people in my state were not born in this country, might have something to do with skyrocketing housing prices.

Also, it is not mentioned that more and more people are not cohabiting.. ..married or otherwise.
Good points.

[Swordsmyth]

How out-of-whack is the discrepancy in growth between incomes, rents, and house prices?
The “San Francisco Housing Crisis,” as it’s called on a daily basis, is an extreme. But housing costs in major urban areas in the US have been eating up more and more of household incomes, as house prices and rents have soared and as incomes have crept up painfully slowly. In many cities, not just San Francisco, this condition is now called a “housing crisis” where families with median incomes can no longer afford to rent or buy adequate housing, or where too much of their income is spent on housing, with not enough left over for other things. They have no savings, they barely make it to the next paycheck, and they can’t help the local economy because housing saps their spending power.
Just how out-of-whack this discrepancy between income versus rents and house prices has become over the years is depicted in a new study with long-term charts, released by the research department of Clever Real Estate (https://listwithclever.com/real-estate-blog/home-price-v-income-historical-study/). Based on Census data going back to 1960 for median household incomes, median gross rents per month, and median house prices, all adjusted for inflation, it shows that nationally, incomes since 1960 have risen just 16%, while rents have risen 72%, and house prices have soared 121%:


https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/US-income-v-housing-1-nationwide-.png
But the national values above reflect everything thrown into one bucket, from the more affordable areas to the biggest housing bubbles. So we will separate them out by region and metro – and there are stunning differences.
All values in the charts are indexed to 1960. The charts only include data for the depicted years: 1960, 1970, 1980, 1990, 2000, 2008, 2010, and 2017. The data for the years in between those years are not included. For example, if in one metro, the housing bust bottomed out in 2012, the low point falls between the data points of 2010 and 2017 and is not depicted. But you get the idea.

More at: https://www.zerohedge.com/news/2019-07-14/where-american-dream-goes-die

[Swordsmyth]

Church attendance in the United States is at an all-time low, according to a Gallup poll released in April 2019 (https://news.gallup.com/poll/248837/church-membership-down-sharply-past-two-decades.aspx). This decline has not been a steady one. Indeed, over the last 20 years, church attendance has fallen by 20 percent. This might not sound like cause for concern off the bat. And if you’re not a person of faith, you might rightly wonder why you would care about such a thing.
Church attendance is simply a measure of something deeper: social cohesion. It’s worth noting that the religions with the highest rate of attendance according to Pew Forum (https://www.pewforum.org/religious-landscape-study/attendance-at-religious-services/) have almost notoriously high levels of social cohesion: Latter-Day Saints, Jehovah’s Witnesses, Evangelical Protestants, Mormons and historically black churches top the list.
There’s also the question of religious donations. Religious giving has declined by 50 percent since 1990, according to a 2016 article in the New York Times (https://www.nytimes.com/2016/11/06/giving/donations-to-religious-institutions-fall-as-values-change.html). This means people who previously used religious services to make ends meet now either have to go without or receive funding from the government. This, in turn, strengthens the central power of the state.


It is our position that civil society – those elements of society which exist independently of big government and big business – are essential to a functioning and free society. What’s more, these institutions are in rapid decline in the United States, and have been for over 50 years.
Such a breakdown is a prelude to tyranny, and has been facilitated in part (either wittingly or unwittingly) by government policies favoring deindustrialization, financialization and centralization of the economy as well as the welfare state. The historical roots of this breakdown are explored below, along with what concerned citizens can do to mitigate its impact on their loved ones.
What Is Bowling Alone? The urtext of this topic is Bowling Alone: The Collapse and Revival of American Community (https://www.amazon.com/Bowling-Alone-Collapse-American-Community/dp/0743203046) by political scientist Robert D. Putnam (https://www.hks.harvard.edu/faculty/robert-d-putnam). He uses the decline in league bowling as a sort of shorthand for the overall decline in American participation in social life.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bowling-alone-washington-destroy-american-civil-society-family-hero.jpg
The local bowling alley was known as the blue-collar country club (https://www.usatoday.com/story/money/business/2015/05/10/bowling-final-frames-roll/27070351/), and it was the invention of the automatic pinsetter that changed the game, making it faster and more accessible. The first million-dollar endorsement sports deal was Don Carter receiving a million dollars (https://marginalrevolution.com/marginalrevolution/2016/09/economic-decline-bowling-culture-america.html) to bowl with an Ebonite signature ball designed for him in 1964.
Business was driven by league play. People would sign up to join a league, which had them in for 30 weeks of once-weekly play. In the course of doing this, they would rub elbows with teammates, opponents and whoever happened to be hanging out in the bowling alley at the time. Between 1940 and 1958, the United States Bowling Congress (https://www.bowl.com/)’ membership exploded from 700,000 to 2.3 million. The Women's International Bowling Congress’ (https://en.wikipedia.org/wiki/Women%27s_International_Bowling_Congress)membershi p climbed from 82,000 to 866,000, with the American Junior Bowling Congress (https://www.bowl.com/Youth/Youth_About_Us/History/) ballooning from 8,000 to 175,000. In their heyday, bowling leagues brought in a whopping 70 percent of all bowling alley income. Now they bring in a paltry 40 percent.
Again, the point here is not that there is something magical about bowling, which acts as a social glue in the United States. Rather, it is that the existence of bowling alleys as a third place in American life was the symptom of a vibrant and healthy civil society, not its cause. People preferred to socialize with others in a place outside of home or work. Putnam is quick to point out that the number of people who bowl in the United States has actually increased since the golden age of bowling – the problem is that they’re all doing it alone.
The decline in bowling league membership parallels the decline of memberships in a number of other civic organizations including the Knights of Columbus (https://www.kofc.org/), B’Nai Brith (https://www.bnaibrith.org/), labor unions (https://en.wikipedia.org/wiki/Trade_union), the Boy Scouts (https://www.scouting.org/), the Red Cross (https://www.redcross.org/), the Lions (https://www.lionsclubs.org/en), the Elks (https://www.elks.org/), the Kiwanis (https://en.wikipedia.org/wiki/Kiwanis), the Freemasons (https://www.britannica.com/topic/order-of-Freemasons), parent-teacher organizations (http://www.pto.org/), the League of Women Voters (https://www.lwv.org/) and the Junior Chamber of Commerce (https://jci.cc/about) to name only a few examples other than bowling leagues and churches.
What this means is that there are significantly fewer connections between people and fewer civic-minded discussions going on now than there were in the past. It also means the loss of identity tied to something other than work and consumer goods (see the explosion of adults spending their money on Star Wars or Harry Potter knick-knacks).
Putnam lays the blame at the foot of technology. Television, and to a much greater extent, the Internet, individualized how people spend their spare time. Still, there is a solid case to be made that the decline of civil society and the resulting loss of social capital is not simply the result of new technologies. It is equally the result of government policies (https://ammo.com/articles/gun-control-guide-major-federal-acts) which, through design or through negligence, further erode civil society.
The Destruction of the Rust Belt It is difficult to talk about the decline of civil society and social capital in the United States without looking at the destruction of the Rust Belt (https://en.wikipedia.org/wiki/Rust_Belt). The decline of the population in Rust Belt industrial cities over the last 50 years is worth a cursory glance before delving further into this topic:


In 1940 (https://en.wikipedia.org/wiki/1940_United_States_Census), Detroit, Cleveland and Pittsburgh were all among the 10 most populated cities in the United States.

By 1980 (https://en.wikipedia.org/wiki/1980_United_States_Census), Cleveland and Pittsburgh had dropped off.

While Detroit hung around in the top 10 until the 2010 census, it was also the first city to have its population drop below one million.

Cities outside of the top 10 in 1940 paint an even starker picture:


Between 1960 (https://en.wikipedia.org/wiki/1960_United_States_Census#City_rankings) and 2010 (https://en.wikipedia.org/wiki/2010_United_States_Census#City_rankings), Buffalo lost over half of its population, plummeting from 532,000 (20) to 261,000 (71).

Cincinnati was hit about this hard during the same time period, with its population dropping from 502,000 (21) to 296,000 (63).

Gary, Indiana is perhaps the most extreme case of Rust Belt depopulation. It lost over half its population between 1960 and 2010, going from 178,000 (70) to 80,000 (unranked).

Most of these massive depopulations are tied closely to deindustrialization and the financialization of the economy. While other factors cannot be ignored, such as central air conditioning, which makes living in cities like Phoenix (439,000 in 1960 and the 29th largest city to 1.4 million and the 6th largest by 2010) much more palatable, a conscious set of policies contributed to the destruction of America’s manufacturing base.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bowling-alone-washington-destroy-american-civil-society-family-rust-belt.jpg
If one sees the United States as nothing more than a group of consumers, there’s nothing to fret about here. If, however, one sees the United States as a nation with a value beyond its simple GDP (https://ammo.com/articles/american-exceptionalism-quotes), the replacement of civil society with the marketplace is a disastrous scenario.
The Destruction of Black Business Districts Another place where this can be seen is the destruction of the black middle class. A frequently untold story of American life is that by the 1950s, the United States actually had a thriving black middle class. Black business ownership peaked during the years between the end of the Second World War (https://www.history.com/topics/world-war-ii) and the Great Society (https://www.history.com/topics/1960s/great-society). Every city with any significant black population hosted a black business district where a primarily black clientele spent their money within their own community. Black home ownership (http://www.nareb.com/african-american-homeownership-falls-50-year-low/) was likewise high at this point.
This is all very much a thing of the past.
The per capita number of black employers declined by 12 percent between the years 1997 and 2014. An article by Brian S. Feldman in Washington Monthly (https://washingtonmonthly.com/magazine/marchaprilmay-2017/the-decline-of-black-business/) notes a significant decline in certain sectors of black business ownership as well, namely grocers, insurers and banks. Black-owned insurance agencies declined by 68 percent between 1989 and 1999 in what Black Enterprise magazine called “a bloodbath.” (https://books.google.com/books?id=iCAooD3ttG0C&pg=PA215&lpg=PA215&dq=%22a+virtual+bloodbath%22+%22black+enterprise%2 2&source=bl&ots=w92jeh9nEJ&sig=ACfU3U1AuBQhGzNqWDLCBSk17t6yHaaqIw&hl=en&sa=X&ved=2ahUKEwib9Mj_0-vhAhWlna0KHT-7DpkQ6AEwAHoECAUQAQ)
The article in question lays this at the feet of not specific government policies, but at the doorstep of a more general trend toward market concentration.
It’s worth looking at the question of wealth and market concentration (separate from the question of so-called “wealth inequality”) from a freedom-minded perspective. The massive amounts of government handouts to big business, in the form of both direct subsidies as well as favorable legislation for regulations and taxes alike, creates an environment favoring those most capable of purchasing influence – namely, big business.
This is not the half-baked conspiracy theory of a college Marxist. No less an authority than the Foundation for Economic Education (https://fee.org/articles/regulations-widen-wealth-inequality/) correctly identifies that the wealth concentration that made the destruction of black small business possible is choking the American economy at the expense of Main Street. Likewise, licensing regimes in a number of states choke the pipeline of small business competition by making it more difficult for people to enter fields, from nail tech to brain surgeon. The FEE likewise identifies health insurance requirements and increasingly rising minimum wage laws as government intervention raising the bar to entry into the market and crushing small business.


While cheap, imported widgets from Walmart benefit consumers with lower prices, they also create an intangible and difficult-to-quantify social problem. When big business replaces small business, wealth is not only centralized, it is also centralized outside of the communities that it serves.While larger businesses are arguably more “efficient” economically speaking, the loss of small business (most acutely seen in the black community) provides an illustrative example of how lost economic capital and lost social capital are often closely tied. Without black business, there is less of a “black community” than there is a “black marketplace.”
Strictly speaking, small business (black or otherwise) is business, not civil society proper. However, greater economic leverage of big business in the nation means an economically impoverished civil society.
Civil Society, the Welfare State, and Mutual Aid While direct connections are difficult to establish, it is worth noting that there is a chicken-egg effect of the welfare state, which began during the New Deal (https://en.wikipedia.org/wiki/New_Deal), but accelerated under President Lyndon Baines Johnson’s (https://www.history.com/topics/us-presidents/lyndon-b-johnson) Great Society (https://www.history.com/topics/1960s/great-society).
What did people do before the advent of social welfare programs? This is a question that even few libertarians can answer without stammering something about private charity. And indeed, private charity did play a role in meeting social needs for the less fortunate. However, there is a hidden story in how communities met social needs prior to the advent of the welfare state.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bowling-alone-washington-destroy-american-civil-society-family-lbj.jpg
Mutual aid in the 21st century is largely a nonprofit form of insurance, particularly life insurance – a sort of analog to the credit union. However, in earlier days they oversaw a number of social welfare programs.
Mutual aid societies, also known as benefit societies (or friendly societies in the United Kingdom and Ireland) date back to the Middle Ages. Medieval guilds were effectively mutual aid societies organized within skilled trades. In the United States, they were popular with black Americans during post-revolutionary times: the Free African Society (https://en.wikipedia.org/wiki/Free_African_Society) dates back to 1787.
One of the key differences between mutual aid and benefit societies and the welfare state is the role of civil society and accountability. Mutual aid societies presented a counterweight to both the state and big business. They offered services such as healthcare, unemployment benefits, disability insurance and other services now provided by big business or state and federal governments.
What’s more, the mutual aid societies generally had a set of values tied to their services. Social values were advanced and an ethos of moral character and self-improvement underpinned membership in a mutual aid society. For example, the Ancient Order of United Workmen forbade its members from selling liquor on penalty of forfeiting their death benefit.
Finally, it’s worth noting the primary difference between mutual aid societies and the welfare state. Members who wanted to collect had to look a peer in the eye and request aid. This had a twin psychological effect: First, it diminished spurious claims. Let’s say “Jim” needed some unemployment insurance. His neighbors are also members of his mutual aid society. They know if Jim actually needs help or if he’s just goldbricking. The flipside is that Jim is also receiving aid from his friends and neighbors. This inspires him to look for work so that he can pay everyone back in his own way, in addition to providing a source of social solidarity during his hardest times.
According to A Life of One's Own: Individual Rights and the Welfare State, in the year 1890, 112,000 Americans were living in housing provided by private charitable organizations. Compare this to 73,000 residing in publicly funded almshouses. What’s more, benefit societies were decentralized. The spirit was one of fraternity, not of paternalism. Reciprocity was a driving ethic, which in turn removed the stigma of receiving charity. People were not receiving handouts, they were receiving support from the very same people whom they had supported in the past.
Additionally, belonging to a mutual aid or benefit society was a lot cooler than receiving welfare. They had secret handshakes, among other secret symbols of membership. What’s more, the humble house-call doctor was a feature of mutual aid society membership. Society locals frequently hired a doctor to service a membership area. They have since been regulated to the point where they provide little in the way of services, except for life insurance and annuities, making them effectively non-profit financial organizations.
In addition to accountability, assistance beyond simple financial support and decentralization, private assistance carries other benefits (https://www.philanthropyroundtable.org/almanac/timeline/fixing-problems-via-philanthropy-vs.-government). For example, philanthropic organizations tend to operate leaner and to be more innovative in how they tackle problems. Such organizations tend to tailor their assistance to the individual in need, rather than offering a one-size-fits-all approach. This is true of individuals and communities alike. Finally, philanthropic and mutual aid societies seek to treat the underlying cause, rather than just the symptom of need.
Such organizations are now limited by the federal tax code 501(c)(4), which greatly restricts the activities such organizations are allowed to participate in. Many of them, such as Mutual of Omaha, underwent demutualization and handed out stocks in place of membership. They are now for-profit financial organizations.
A Decline in Family Life One of the main pillars of civil society is the nuclear family. Any discussion of the decline of civil society in the United States would be incomplete without a discussion of the decline of family life in the United States.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/bowling-alone-washington-destroy-american-civil-society-family.jpg
Perhaps the best numbers to look at with regard to the American family are from the 2010 Census. These are, admittedly, a bit old. However, there is no reason to suspect that the trend has reversed itself and that the nuclear family has experienced some kind of resurgence in the years since that census. If anything, the opposite is probably true. So what does the last United States Census (https://www.theatlantic.com/business/archive/2013/11/the-slow-death-of-traditional-families-in-america/281904/) say?


Non-college graduates are more than twice as likely to be single parents.

Affluent families are more common than poor ones.

Pew Research (https://www.pewsocialtrends.org/2014/09/24/record-share-of-americans-have-never-married/) likewise has good data on the state of the American family:


Americans who have never been married reached an all-time high in 2012, with 25 percent of all adults over the age of 25 having never been married. In 1960, this figure stood at 9 percent.

Men were significantly less likely to have ever been married than women.

24 percent of never-married adults were cohabiting with their partner.

For black Americans, the percentage over 25 who had never been married was 36 percent.

Pew Research indicates that it expects this trend to continue and that, while people are getting married later in life, it does not expect a significant increase in marriage as the population ages.

Financial security was cited as the main hurdle to marriage by one third of all those polled who wanted to get married.

67 percent of Americans under 50 who are married are in their first marriage (https://www.pewsocialtrends.org/2015/12/17/1-the-american-family-today/), compared to 83 percent in 1960.

46 percent of children live with two parents in their first marriage. In 1980, this number was 61 percent. In 1960, it was 73 percent.

The above-cited figures point toward two conclusions: First, the nuclear family is in sharp decline. Second, it is far more common for educated and affluent Americans to form traditional families.
It’s difficult to assign direct blame to any one factor. The centralization of the economy cited above plays a role, as does the financialization and deindustrialization of the economy. In the 1960s, from where our earliest data comes, it was not difficult for a high school graduate or even a high school dropout to earn a living at a stable job that was effectively a career for life. With this job came a defined benefit pension, healthcare, etc. The wages and benefits made having and raising a family easier.
The welfare state is another significant driver of the decline of the nuclear family. Unsurprisingly, the black family is massively impacted. In 1965, 25 percent of all black children were born out of wedlock. In 2016, that rate had increased to 70 percent and even topped 80 percent in certain urban areas (https://www.dailyherald.com/article/20160312/discuss/160319646/). In the 1940s, this number was five percent, which was comparable to that of white children. The Hispanic out-of-wedlock birth rate in 2016 was 52 percent, while for whites it was 30 percent.
The rise in children born out of wedlock cannot be separated from the massive expansion of the welfare state under Johnson’s Great Society. In a report from the Mises Institute (https://mises.org/library/welfare-states-attack-family), the basic argument is that welfare disincentivizes marriage. In times past, when women had children out of wedlock, it meant an incredibly difficult life balancing whatever work and charity they could get. It also carried a social stigma (from our old friend civil society), which further disincentivized single motherhood.


The impact of single-parent households is far further reaching than you probably think: In the most extensive study ever done on single parenthood (in permissive, tolerant and liberal Sweden), it was found that children in single-parent households were twice as likely to suffer from psychiatric disorders and addiction (https://www.cbsnews.com/news/single-parent-kids-more-at-risk/). This figure might be conservative, as it only includes hospitalizations. Some other striking statistics about fatherless households (https://thefatherlessgeneration.wordpress.com/statistics/) include:


63 percent of youth suicides take place in fatherless homes.

90 percent of all homeless youth and runaways are from fatherless homes, which is a whopping 32 times the national average.

85 percent of all children with behavior issues come from fatherless homes, 20 times the national average.

80 percent of rapists with established anger issues come from fatherless homes, 14 times the national average.

71 percent of all high school dropouts come from fatherless homes, nine times the national average.

70 percent of those in state-operated institutions come from fatherless homes, nine times the national average.

85 percent of all juveniles in prison come from single-parent households, 20 times the national average.

90 percent of adolescent repeat arson offenders are from fatherless homes.

Fatherless children are nearly twice as likely to be victims of abuse or neglect.

These striking statistics are a serious indictment of the decline of the nuclear family. If, as is common of behaviors, single parenthood is heritable, we have not yet begun to see a crisis.
The End of Civil Society in the United States The big takeaway is that in the United States, civil society has declined. While the blame cannot entirely be laid at the feet of big government and big business (individual actors are involved), there is strong evidence to suggest that the crisis in American civil society is driven primarily by the welfare state and government policies favoring deindustrialization, financialization and centralization of the economy.
There is a reinforcing quality about the destruction of civil society. As the size of big government and big business increases, they become more capable of taking greater power. Smaller communities become increasingly reliant upon each, making it harder to resist further growth and greater disempowerment. It’s a vicious downward spiral.

More at: https://www.zerohedge.com/news/2019-07-18/bowling-alone-how-washington-has-helped-destroy-american-civil-society-and-family

[Swordsmyth]

Thousands of US millennials are priced-out of the dating market, a new study has shown.
Researchers found that a third of Generation Y are reluctantly single because they can't afford to pursue love.
According to the data, financial instability is hampering their ability to find 'the one' because it's forcing them to budget, instead.

More at: https://www.dailymail.co.uk/sciencetech/article-7309659/Millennials-reluctantly-staying-single-afford-date-study-says.html

[Swordsmyth]

As the cost of rents and home prices continue to outpace wages in the Bay Area (https://www.zerohedge.com/news/2018-10-25/smallest-home-ever-listed-san-francisco-can-be-yours-650k), one company is building luxurious camper vans for millennials looking for alternative housing options.
The company is called "Glampervan," which is based in San Francisco, turns commercial vans into full-blown glamping vehicles, has a bed, kitchen, refrigerator, table, and a rooftop deck.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-08-12_08-39-12.png
The glorified RV appears to be influenced by broke millennials, who cannot afford to own overpriced homes nor pay inflated rents in the Bay Area.


https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-08-12_08-44-08.png
Glampervan chief excursion officer Rob Novotny told ABC 7 San Francisco (https://abc7news.com/society/glamping-gaining-popularity-amid-bay-area-housing-crisis/5458787/), that the glamper vans were initially designed for millennial weekend glamping trips, but have become a full-time residence for many.

"One that comes to mind is a woman who is spending $5,000 for a 2-bedroom apartment and she actually has all the parking spots all throughout the city worked out already," chief excursion officer" Rob Novotny explained. "Like, this one is a Thursday; this one is a Wednesday and all that so that she won't get hassled and stay moving."
New rules in San Francisco make it illegal for people to sleep in their cars overnight, but that isn't stopping thousands of people from living in RVs and vans.

More at: https://www.zerohedge.com/news/2019-08-12/millennials-consider-living-glampervans-instead-overpriced-san-francisco-apartments

[AngryCanadian]

As the cost of rents and home prices continue to outpace wages in the Bay Area (https://www.zerohedge.com/news/2018-10-25/smallest-home-ever-listed-san-francisco-can-be-yours-650k), one company is building luxurious camper vans for millennials looking for alternative housing options.
The company is called "Glampervan," which is based in San Francisco, turns commercial vans into full-blown glamping vehicles, has a bed, kitchen, refrigerator, table, and a rooftop deck.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-08-12_08-39-12.png
The glorified RV appears to be influenced by broke millennials, who cannot afford to own overpriced homes nor pay inflated rents in the Bay Area.


https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-08-12_08-44-08.png
Glampervan chief excursion officer Rob Novotny told ABC 7 San Francisco (https://abc7news.com/society/glamping-gaining-popularity-amid-bay-area-housing-crisis/5458787/), that the glamper vans were initially designed for millennial weekend glamping trips, but have become a full-time residence for many.

"One that comes to mind is a woman who is spending $5,000 for a 2-bedroom apartment and she actually has all the parking spots all throughout the city worked out already," chief excursion officer" Rob Novotny explained. "Like, this one is a Thursday; this one is a Wednesday and all that so that she won't get hassled and stay moving."
New rules in San Francisco make it illegal for people to sleep in their cars overnight, but that isn't stopping thousands of people from living in RVs and vans.

More at: https://www.zerohedge.com/news/2019-08-12/millennials-consider-living-glampervans-instead-overpriced-san-francisco-apartments


As the cost of rents and home prices continue to outpace wages
As Every where in Western Countries, including Canada. :rolleyes:

[Swordsmyth]

MarketWatch recently published a piece (https://www.marketwatch.com/story/ceos-are-paid-278-times-more-than-the-average-us-worker-2019-08-15) about the soaring U.S. CEO-to-worker pay ratio, which hit 278-to-1 in 2018 (up from just 58-to-1 in 1989 and 20-to-1 in 1965) -

Nice work if you can get it.
CEO pay has increased 1,008% between 1978 and 2018, while typical worker pay has edged up 12%.
That’s according to analysis from the left-leaning Economic Policy Institute, providing new data on the depth of income inequality.
In 2018, CEOs in the country’s top 350 businesses were paid $17.2 million on average. Employees working in those industries — ranging from retail to technology and manufacturing — typically earned $64,500, researchers said.
Overall, there’s a 278-to-1 pay ratio between workers and CEOs. In 1989, the compensation ratio was 58-to-1 and in 1965, it was 20-to-1.
Stock awards and cashed-in stock options averaged $7.5 million of CEO pay in 2017 and 2018, the study added.
Incorporating stock in pay arrangements is one way to incentivize CEO, and rising salaries illustrate the market for talent in the C-suite, some observers say.
Left-leaning economists, politicians, and other commentators frequently use the soaring CEO-to-worker pay ratio as an example of why capitalism is inherently flawed and always leads to the rich getting richer, but my research has found (http://www.explainingcapitalism.org/truth-about-inequality/) that it is a byproduct of central banking and fiat (i.e., "paper") currency rather than capitalism. To make a long story short, the Federal Reserve has excessively inflated the financial markets in its attempt to create an economic recovery from the Great Recession. This excessive asset price inflation has pushed U.S. household wealth far out of line with its historic relationship to the GDP, as the chart below shows. The wealthy have been the greatest beneficiaries of this asset price inflation because they own a disproportionate share of the assets that have been inflated by the Fed, which are stocks, bonds, and high-end real estate.


U.S. Household Net Worth As Percent Of GDP
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/https___blogs-images.forbes.com_jessecolombo_files_2019_08_U.S.-Household-Net-Worth-As-Percent-Of-GDP.jpg
The Fed's inflation of the U.S. stock market is the primary reason why the CEO-to-worker pay ratio has increased so much. The CEOs of public corporations usually receive stock options as part of their compensation packages, which means that they can benefit greatly when their stock prices rise. As the chart below shows, the CEO-to-worker pay ratio surges during asset bubbles, but falls back down when the bubbles burst (it correlates with the chart above). The current asset bubble is no different and the excesses will be corrected in the form of a strong bear market, just like they always are.
CEO To Worker Pay Ratio
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/https___blogs-images.forbes.com_jessecolombo_files_2019_08_CEOTo WorkerPayRatio.jpg

More at: https://www.zerohedge.com/news/2019-09-02/why-has-us-ceo-worker-pay-ratio-increased-so-much

[Swordsmyth]

Marriage (https://www.yahoo.com/lifestyle/tagged/marriage/) isn’t as popular as it once was. In fact, the marriage rate in the U.S. is the lowest it’s been in at least 150 years, reports PBS (https://www.pbs.org/wgbh/third-rail/episodes/episode-7-is-marriage-dead/why-are-fewer-people-getting-married/).
A new study (https://onlinelibrary.wiley.com/doi/abs/10.1111/jomf.12603), published in the Journal of Marriage and Family, may have one explanation as to why: There aren’t enough “economically-attractive” men — ones with a good income and a stable job — for single women to marry.
In the study, researchers examined couples in heterosexual marriages from 2008 to 2012 and 2013 to 2017, compiling character profiles (education and income levels) of the husbands. When they analyzed the pool of available men for these economically-attractive traits that demographically-similar single women might look for, there was a shortage of potential matches.


The researchers hypothesized that potential husbands for the single women had an average income nearly 60 percent higher than the actual pool of available men. They were also 30 percent more likely to be employed and 19 percent more likely to have a college degree compared to current bachelors.
In other words, the researchers say there’s a shortage of available men who are economically attractive, which they define as “partners with either a bachelor’s degree or incomes of more than $40,000 a year.”
While the focus on finances might sound shallow — or at least, not very romantic — lead author, Daniel T. Lichter (https://www.human.cornell.edu/people/dtl28), PhD, a professor at Cornell University, tells Yahoo Lifestyle that money matters in marriage.
“Economic stability is a key to a stable family life — to getting married, staying married, and marrying well,” he says. “Physical attractiveness may provide an initial filter that draws our attention, but economic considerations and shared values matter much more in the long term. A good job attracts and retains suitable marital partners. And this is true for both men and women.”

More at: https://www.yahoo.com/lifestyle/fewer-people-are-getting-married-because-theres-a-shortage-of-economicallystable-single-men-says-study-221607423.html

[Swordsmyth]

Suicide rates are on the rise in America, particularly in rural communities, according to a new study.
Death by suicide among Americans aged 25 to 64 rose between 1999 and 2016, researchers found in a report published in JAMA Network Open (https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2749451) on Friday. That rare increased more in rural counties than in major metropolitan areas.
Between 1999 and 2016, there were 453,577 suicides among Americans ages 25 to 64. The the last three years of the study witnessed higher annual figures than the previous years.
The majority of the deaths were male. The deaths were more common among middle-aged adults than younger and older adults.
The study relied on statistics (https://www.nbcnews.com/health/mental-health/suicide-rates-are-rising-especially-rural-america-n1050806?cid=sm_npd_nn_tw_ma) from the National Vital Statistics System, a database that includes information on suicide deaths, including year of death, gender, age, and county of residence, as well as the US Census, the American Community Survey, County Business Patterns, Area Health Resource Files, and the North American Industry Classification System.

Danielle Steelesmith, the lead author of the study, said poverty, low income, and underemployment among the factors that appear to be driving these rates up. She notes that these factors are “really bad” in rural areas.

More at: https://news.yahoo.com/suicide-rate-us-rising-especially-144935931.html

[UWDude]

[/INDENT] New rules in San Francisco make it illegal for people to sleep in their cars overnight, but that isn't stopping thousands of people from living in RVs and vans.



LoL.

Sir, the people have nowhere to live, and are sleeping in their cars.

Sir: Easy, make it illegal to sleep in your car!

$3,800 a month.

That's homeless for a lot of people.

[Swordsmyth]

It now costs $350,000 a year to live a middle-class lifestyle in a big city (http://www.ronpaulforums.com/showthread.php?539092-It-now-costs-350-000-a-year-to-live-a-middle-class-lifestyle-in-a-big-city)

[Brian4Liberty]

So much detail. Keep it simple. Supply and demand applies to humans. One word explanation: immigration.

That far outweighs any other factors. Second on a weighted list? Outsourcing.

[Swordsmyth]

So much detail. Keep it simple. Supply and demand applies to humans. One word explanation: immigration.

That far outweighs any other factors. Second on a weighted list? Outsourcing.
I like to keep it simple at times but I like to track the details too.

And it's not just immigration and outsourcing, all of the different ways we are robbed (inflation for example) steal our lives and our potential.
When enough is stolen people can't afford to get married and have children.

[Brian4Liberty]

I like to keep it simple at times but I like to track the details too.

And it's not just immigration and outsourcing, all of the different ways we are robbed (inflation for example) steal our lives and our potential.
When enough is stolen people can't afford to get married and have children.

Yes, we can’t forget inflation.

Immigration and outsourcing were the tactics used by the kleptocracy and parasite class. It was taught at business schools and promoted by management consultants and Wall St. money people. “Lay off your American work force and outsource to a cheap country. We (consultants, venture capitalists, Wall St. managers and executives) will all profit.”

The thing about the parasite class is they make money by telling executives to do something, anything. Are you centralized? You need to decentralize! Too decentralized? Centralize! How about some M&A? Want to buy a competitor or merge? We have the perfect plan for you. Company too unwieldy? You should spin off a division! And always, consider out sourcing or importing some people on cheap work visas! We can arrange everything.

And the parasites profit and take their huge cut no matter what is done.

[Swordsmyth]

With nearly 40% of young adults (https://calmatters.org/housing/2019/08/young-adults-californians-living-with-parents-millennials-ddata/) in California living with their parents and a $1.6 trillion student debt (https://www.zerohedge.com/news/2019-08-05/student-debt-crushes-homebuying-dreams-millennials-now-delayed-8-years) crisis taking more than just a little bite out of disposable income (and any hope of saving for many), economist Gary Kimbrough of the University of North Carolina at Greensboro has thrown together (https://twitter.com/graykimbrough/status/1096868811591032832) a ton of interesting data to answer the question: "What are the economic realities for young adults, and how have they changed from prior decades?"
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/millenn_1.jpg
While much of Kimbrough's analysis was done in February, he's revisited his work ahead of a January presentation on the topic of young adults living at home.
Living at home



Household formation is way down for 20-34 year olds.

In 1960 and 1970, over 70% of men and women age 20-34 (excluding those in group quarters) were heads of household/householders or spouses of householders.

In 2017, this was down to 52% of women and 43% of men age 20-34. pic.twitter.com/5RPt43SVl7 (https://t.co/5RPt43SVl7)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) September 7, 2019 (https://twitter.com/graykimbrough/status/1170399399907856384?ref_src=twsrc%5Etfw) What's more, when broken down by categories "living with parents, household head or spouse of household head, living in group quarters (mostly prisons for these ages), and other arrangements like cohabiting and living with roommates," it's startling to watch how young adults have been living at home vs. starting their own families over time.

Another suggestion, from @DParrish (https://twitter.com/DParrish?ref_src=twsrc%5Etfw): maps of the state-level rates of living with parents for 20-34 year olds, by gender. pic.twitter.com/nN5HuFx0A9 (https://t.co/nN5HuFx0A9)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) September 11, 2019 (https://twitter.com/graykimbrough/status/1171850168645369856?ref_src=twsrc%5Etfw) https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/DzjlP1LWwAEfszP.jpg
Job switching
When it comes to "job hopping" - young adults are largely staying put - and "aren't even switching jobs at anything close to the levels of those in their age groups before 2001" according to Kimbrough.

Let's be clear: millennials are not "job hopping." Young adults aren't even switching jobs at anything close to the levels of those in their age groups before 2001. pic.twitter.com/YyteHquu6K (https://t.co/YyteHquu6K)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) January 27, 2019 (https://twitter.com/graykimbrough/status/1089347497569513472?ref_src=twsrc%5Etfw) Everyone has a degree
"In 1992, middle-aged men were significantly more likely to have a bachelor's degree than women or younger men. Now members of every group age 25-34 are more likely to have degrees than those men were," writes Kimbrough, adding "Women's college degree rates have shot up significantly more than men's."

In 1992, middle-aged men were significantly more likely to have a bachelor's degree than women or younger men. Now members of every group age 25-34 are more likely to have degrees than those men were. Women's college degree rates have shot up significantly more than men's. pic.twitter.com/WpcDaAxcPi (https://t.co/WpcDaAxcPi)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 9, 2019 (https://twitter.com/graykimbrough/status/1094320338983362561?ref_src=twsrc%5Etfw) Men at (part time) work
Since the Great Recession, Kimbrough noticed that "the propensity to work part time is about the same for women as pre-recession, but is up quite a bit for men under 35. Men 25-29 are still more likely to work PT than any time pre-2009."

While examining economic realities for young adults since the Great Recession, I noticed: the propensity to work part time is about the same for women as pre-recession, but is up quite a bit for men under 35. Men 25-29 are still more likely to work PT than any time pre-2009. pic.twitter.com/VDD56DkF21 (https://t.co/VDD56DkF21)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 9, 2019 (https://twitter.com/graykimbrough/status/1094300322644852737?ref_src=twsrc%5Etfw) Working women are up, marriages are down
As more women have chosen careers over homemaking, Kimbrough provides an illustration of prime-age employment as a percentage of population, by gender. What's more, young adult marriages have declined markedly over the last decade, continuing a trend which began mid-century.

With decennial Census and ACS data, I can examine marriage rates by age and gender over an even longer period. Young adult marriage rates have declined over the last decade, but they've been declining since mid-century. https://t.co/OZF2u3smnn
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 16, 2019 (https://twitter.com/graykimbrough/status/1096874109139595264?ref_src=twsrc%5Etfw)



Owned by rent
Using Census/ACS data, Kimbrough shows how young adults are "significantly more likely to live in rental housing than in prior decades."

Using the CPS ASEC, I can examine four decades of yearly data on living in an owned/mortgaged home by age group. pic.twitter.com/BxhxnySHSZ (https://t.co/BxhxnySHSZ)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 16, 2019 (https://twitter.com/graykimbrough/status/1096884365945114625?ref_src=twsrc%5Etfw) What about the children?
Also unsurprising, with lower marriage rates and higher female employment, women in their 20s are "significantly less likely to have a child than a decade ago," while those over the age of 32 are slightly more likely to have a kid.

Given the economic realities young adults have faced and the delays in marriage and homeownership we've seen, it should come as little surprise that women in their 20s are significantly less likely to have children in recent years than a decade or so ago. https://t.co/EQyKsBlxjx
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 16, 2019 (https://twitter.com/graykimbrough/status/1096884995543715840?ref_src=twsrc%5Etfw) In short:

Looking at five decades of prime age adults in the CPS ASEC:

1) Rates of women working increased until about 20 years ago, then stagnated
2) Men's working rates declined until about a decade ago, then stagnated
3) Parents (of children under 18) became older and less common pic.twitter.com/vRbTYPKOUg (https://t.co/vRbTYPKOUg)
— Gray 'serial millennial myth debunker' Kimbrough (@graykimbrough) February 23, 2019 (https://twitter.com/graykimbrough/status/1099310618518138880?ref_src=twsrc%5Etfw)



More at: https://www.zerohedge.com/economics/living-home-forgetting-about-kids-visualizing-economic-realities-young-adults-america

[Swordsmyth]

4:18


https://youtu.be/C4fmpVg0w8s

[Swordsmyth]

For the first time in history, 19 million public employee salaries at every level of government across America have been mapped and posted online.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-23_8-07-51.jpg
The work of our auditors at OpenTheBooks.com tells a compelling story: Public service is supposed to be about serving the people. However, the good intentions of America’s 19 million public employees come at a very high price for the people – nearly $1 trillion. In many cases, taxpayers generously fund these employee salaries.



Our online database (https://www.openthebooks.com/) is free to use and includes most employees within the federal, state, and local governments. You can search in your backyard or across the nation. Find out just how much public employees made last year. The salary records include name, salary, position title, and employer for 2017.
The data is full of stunning examples.


Tree trimmers in Chicago lopped off $106,000.

New York City school janitors cleaned off $165,000 while out earning the principals at $135,000.

Lifeguards in Los Angeles County, California, made up to $365,000.

In the small school district in Southlake, Texas (8,000 students), the school superintendent earned $420,000.

Help the reform-minded mayors, school superintendents, legislators and members of Congress by finding the waste, overspending, and bloated government in your very own neighborhood.
Search (https://www.openthebooks.com/map/?Map=90001&MapType=Pin) our interactive map of the top 2 million most highly compensated public employees across America. Just click a pin (your ZIP code) and scroll down to see the results that render in the chart beneath the map. Click here (https://www.openthebooks.com/map/?Map=90001&MapType=Pin) to access the map below.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-23_8-09-34.jpg (https://www.openthebooks.com/news/?CategoryId=105)
Search 2 million public employee salaries by ZIP code at OpenTheBooks.com. (https://www.openthebooks.com/news/?CategoryId=105)
Last year, we found 1.7 million public employees earned $100,000 or more. The vast majority – 1.3 million six-figure earners – worked at the state and local levels. There were 105,000 local and state government employees out-earning every governor of the 50 states at a salary of $190,000 or more.
In Texas, 356 municipal employees made more than all governors ($190,000). Some of these towns are small, like Stanton (pop. 2,900), where the manager earned $314,696. In Whitesboro (pop. 4,000) and Manvel (pop. 10,000), the administrators were paid $312,000 and $292,529, respectively.
In Florida, the city attorney of the seaside community Dania Beach, Florida (pop. 32,000) gleaned $436,917 – that’s more than any U.S. president. At the Port Authority of New York and New Jersey, eight police officers and detectives made between $300,000 and $783,000 last year.
Nearly 10,000 employees of the University of California system pulled down more than $200,000. This includes 65 highly compensated public employees who made between $1 million and $3.6 million.
The top 5 locations for highly compensated public employees.
https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/https___blogs-images.forbes.com_adamandrzejewski_files_2018_12_P ublicEmployeeSalaries-2.jpg
OPENTHEBOOKS.COM
Across the country, some of the largest salaries were paid out to athletic coaches at public universities. The retired football coach at University of Oregon received a $558,689 annual pension, and the fired Arizona State football coach got a $15 million payout. Nick Saban, at the University of Alabama, made $11 million.
What will you find while searching the public payrolls in your community?
Our recent investigation with Fox 32 Chicago found an Illinois superintendent earning $407,000 in a Calumet City district with only 1,100 students and no high school. Another superintendent made $206,000 in a New Lenox district with only 11 teachers and less than 100 students. Still another superintendent retired on a $300,000 pension at a Park Forest district, but, was then rehired on a $1,200 a day consulting contract – same position, same district.
Before complaining about Washington, D.C., people must insist on good government where they live. The people have the power to hold local politicians accountable for tax and spend decisions. Our mission is to make this information available to citizens and policymakers.
Government payrolls are the No. 1 issue affecting every service: public safety, healthcare, and welfare. Pay, perks, and pension benefits for public employees must be a priority in budgeting and deserve a rigorous, fact-based public debate.


More at: https://www.zerohedge.com/political/making-fortune-19-million-public-employees-across-america-cost-taxpayers-nearly-1

[Swordsmyth]

Average US Family Can't Afford A Home In 71% Of The Country (https://www.zerohedge.com/personal-finance/average-us-family-cant-afford-home-71-country)

[Swordsmyth]

A new study has found the link between automobile manufacturing plant closures and a community's struggle with opioid overdose deaths.
The study, published (https://jamanetwork.com/journals/jamainternalmedicine/fullarticle/2757788?guestAccessKey=7f42af1b-e097-44de-96f0-e2885753f572&utm_source=For_The_Media&utm_medium=referral&utm_campaign=ftm_links&utm_content=tfl&utm_term=123019) Monday in JAMA Internal Medicine, titled "Association Between Automotive Assembly Plant Closures and Opioid Overdose Mortality in the United States," shows how US adults are more likely to die from opioid overdoses if they live near a manufacturing plant that closed in the last five years.
"Our findings illustrate the importance of declining economic opportunity as an underlying factor associated with the opioid overdose crisis," researchers from the Perelman School of Medicine at the University of Pennsylvania wrote in the study.
Researchers examined opioid death rates in 112 manufacturing counties across the US that had at least one manufacturing plant close since 1999. A majority of the counties were in the South and Midwest regions of the country.



https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/fig%201%20.png
From 1999 to 2016, plant closures affected 29 counties. Those counties saw 85% higher opioid overdose deaths than counties without closures.
Researchers noted that white working-age men were mostly affected.


More at: https://www.zerohedge.com/health/opioid-deaths-rise-towns-when-auto-plants-close-study-says

[Swordsmyth]

Low-income workers can’t afford rent in 91% of Canadian cities (https://www.vice.com/en_ca/article/mb8z43/if-you-make-minimum-wage-you-cant-afford-rent-in-most-canadian-cities)

[Swordsmyth]

Summary Nations with 56% of world GDP have declining annual births and childbearing populations, nations with 35% of GDP have declining births but still rising/flat childbearing populations, nations with less than 9% of world GDP have rising births and childbearing populations.
Detailed below are 1950 through 2040 annual births, female childbearing, and female post-childbearing populations of worlds largest economies. Utilizing UN World Population Prospects 2019 data.



https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/population-decline-e1528705908231.jpg
In the wake of the great financial crisis of 2009, ZIRP/NIRP were utilized, federal deficit spending soared, asset prices skyrocketed, employment rose to record levels...but strangely fertility rates and total births have continued falling. Actually, collapsing. Record wealth has been accompanied by record low birth rates and unwillingness to have children, suggesting that those reaping the gains of the asset-price-pallooza are not of childbearing age. The policies since 2009 have rewarded asset holders for being asset holders and penalized young, poor, and those without assets...for being without assets.
Simply put, costs of living and assets have risen far faster than incomes. Rent, daycare, insurance, education, healthcare, etc. etc. have taken a progressively greater share of income leading to fewer and later marriages, fewer and later children, and a general unwillingness to reproduce. All this has led to collapsing populations of young (and now young adults) among the nations that consume over 90% of the worlds exports and ultimately means collapsing demand while excess capacity is set to soar.
So, today I show that of the top 50+ global economies, 6 have rising annual births and childbearing populations, 9 have falling annual births but still have a rising or flat childbearing population (the precursor to depopulation), 35+ have falling births, a falling childbearing population, are in secular decline, and depopulating from the bottom up (negative birth rates coupled with declining childbearing populations). Essentially, global consumer bases are collapsing from the young up, and this situation is only accelerating...and more debt, more QE, more interest rate cuts are only pushing birth rates and total births lower.
The 20 to 40 and 40+ year-old populations of females are not so much projections as simple math, these females already exist and are just shifted forward through the next twenty years assuming existing immigration patterns. Births from 2020 on are projections. Nations are in order of the percentage change of their 20 to 40 year-old female childbearing populations from 2020 through 2040. GDP and % of total global GDP are also included for relativity.


* * *
Many will applaud the fast declining and decelerating population growth of the nations that do all the consuming, but we are fast approaching a demographic and economic waterfall among the consuming nations that will leave little to no export led growth potential for poor nations. And that, coupled with increasingly widely available access to birth control, means poor nations economic growth (plus birth rates and total births) are likely to follow the consumer nations down. The outcome is a global inverted pyramid with surging elderly populations (and the policies to support them) the cause of collapsing young populations.

More at: https://www.zerohedge.com/geopolitical/financialization-has-cemented-declines-fertility-rates-births-eventually-depopulation

[Swordsmyth]

The growing goods trade deficit between the U.S. and China has cost America 3.7 million jobs between 2001 and 2018, according to new data from the Economic Policy Institute (https://www.epi.org/181374/pre/9344f0f11e0eeeb632aa580637b9d164b4d46f696965773207 39c2bff557e49b/#2.81-3.66) (EPI).

Sino-American relations have entered a delicate phase, after the two sides struck a provisional deal (https://finance.yahoo.com/news/u-china-phase-one-trade-181922454.html) that will lead to an extended round of negotiations about a range of thorny issues.
The EPI data underscores how high those stakes are, pointing out that “the growing trade deficit with China isn’t just a post-recession phenomenon hitting manufacturing: it has cost the U.S. millions of jobs throughout the economy since China entered the World Trade Organization (WTO) in 2001, a finding validated by numerous studies.”
Those figures include 700,000 jobs lost during the first 2 years of the Trump administration, the EPI stated — despite the president’s increasingly tough trade policies meant to stanch an outflow of U.S. jobs.
Since 2001, the gap between what the world’s two largest economies exchange in goods and services has only ballooned — from $83 billion to a staggering $419.5 billion in 2018. The EPI noted that increase represents an average annual rate of growth of 10%.
During this time period, U.S. exports to China did grow rapidly, from $19 billion to $120 billion in 2018. But that was outstripped by Chinese imports which increased far more dramatically — rising from $102.3 billion in 2011 to $539.2 billion in 2018.
A greater percentage of the increase in the goods trade deficit occurred during the last decade, in spite of the Great Recession. From 2008 to 2018, the deficit spiked 57.5% — a total of $153.2 billion as America’s appetite for inexpensive Chinese goods remained voracious.
That growth occurred at a time when the U.S. deficit with the rest of the world declined by 17.7%, the EPI data showed.
These growing deficits have had a large impact on jobs here in the United States. “Each $1 billion in exports to another country from the United States supports some American jobs,” the report noted, but, “each $1 billion in imports from another country leads to job loss.”


While all 50 states and Washington D.C. experienced job losses, some states were hit harder than others. Job losses ranged from .85% to 3.66% of total state employment; New Hampshire, Oregon, California, North Carolina, Minnesota comprised the top 5 hardest hit states.
Thanks to the heavy losses in computer and electronic parts, California experienced the largest absolute job loss, with over 650,000 jobs lost — with 3 key Congressional districts accounting for nearly 45% of all the job losses in the area.
Wages also took a hit, accounting for a “direct net wage loss” of $37 billion a year due to trade with China. That’s because those who lost jobs in the lucrative import and export industries found jobs in non-trade related industries which pay far less — around 23% less, according to EPI data.
Lower wage workers, or those without college degrees, suffered the most. The 100 million workers without a college degree suffered average losses of $1,800 a year, EPI noted — a national loss of $180 billion.

More at: https://finance.yahoo.com/news/growing-us-china-trade-deficit-cost-37-m-american-jobs-report-225814088.html

[Swordsmyth]

Middle class Americans are opting not to marry because until they're financially ready, according to new research that shows people value having a lot of money and a career they enjoy more than a legal union.
Student loans and other debts get in the way of marriage which is nowadays regarded as a 'capstone achievement' that comes once an individual has set up for a stable future, researchers say.
While 60 percent of Americans said they had been married in 2002 that dropped to 50 percent in 2017.
In that same 15-year period the cohabiting figures rose from 54 percent to 59 percent, according to Pew Research.


'The meaning of marriage has changed, and marriage is now viewed as this capstone achievement once all of these other milestones have been achieved,' Susan L. Brown, chair of sociology at Bowling Green State told the Wall Street Journal (https://www.wsj.com/articles/affluent-americans-still-say-i-do-its-the-middle-class-that-does-not-11583691336).
'It's almost like a luxury good that's attainable only by the people who have the highest resources in society.'
But since 1976 to 2017, three-quarters of high school seniors have responded that they see marriage in their future, according to yearly research by the University of Michigan.
It indicates people are simply waiting for a number of factors to fall into place. The WSJ said the poorest Americans were least likely to marry.

More at: https://www.dailymail.co.uk/news/article-8094553/Americans-avoiding-marriage-achieve-financial-stability.html