Do you think one day the middle class American will become extinct??
I don't get exactly what you mean, hahaha. I have no idea really and as a Filipino, I am not so interested with that. Personally, I want everybody to exist in this world and enjoy good life. Let us leave everything to God. Thank you and more power to you. May God bless us all.
Rather than the middle class become extinct, I think they will just redefine middle class. Who knows what it will be--all people on welfare--middle class? Who knows?
Yes - and it 's going to happen a lot sooner than people think.
The next round of 'quantitive easing': printing massive amounts of money, by the Fed, Bank of England etc, along with maintaining interest rates down around zero (when the banks are only lending money to each other) lowers the value of savings (devaluation) and property (negative equity). These are the two elements that largely define the middle class.
America is also engaged in a currency war with China - it is trying to force up the value of the Yuan by devaluing the dollar. This will also lower the value of savings and insurance policies - along with health cover. Health bills are the biggest single cause of bankruptcy in America.
Furthermore, America's banks (along with all the big central banks) are - in effect - bankrupt because they are carrying undeclared 'bad debts' and toxic mortgages to-the-tune-of trillions of dollars.
Now this might sound a bit counter-intuitive but the banks aren't really interested in paper money anymore. They are frantically trying to convert money into something that has intrinsic value. This is why the banks are attempting to claw back wealth and influence by using the money that has been given them by the taxpayer to buy up food stocks and future stock futures.
This is driving up food prices - and destabilizing economies - all over the World.
Things are beginninig to look pretty grim - and not just for the American middle class.
You can blame all of this on the banks - and their cronies in government.
Yes, even now the middle class is being splintered into an upper middle class and a lower middle class. I expect that in the future the divides will simply polarize and merge with either the rich or the poor.
Absolutely! I could rant about it here, but I've spent about 1 year and 420pgs answering it in depth in my book, Critical Mass, which I've posted a free series of on HubPages... It's a complicated phenomenon, but give this book a read... It's only fiction, but from an undoubtedly inescapable future that's downright scary for all but the very rich! Great question!
Not only the middle class will become extinct, but all classes.....When the new kingdom comes and Jesus Rules, there will be no classes at all.
I do believe that one day quite soon that there willl be only two classes, the rich and the poor. If the economt does no timprove soon it will be inevitable.
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