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Old Dec 05, 2007, 02:32 PM
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Cyran0 Cyran0 is offline
Poohbah
 
Member Since: Oct 2007
Location: Minnesota
Posts: 1,464
Well September, based on current data on the state of the middle class, I'm not surprised by the percentages. We're out of ways to generate more income, we've maxed out our credit, and we're losing value in our homes. We make less money than we did 30 years ago (adjusted for inflation) while working much longer hours and economic benefits of globalization are going almost exclusively to those who already had too much money to begin with. Fuel costs are way up and the dollar is constantly losing value so foreign imports (much of what we buy) are also rising dramatically in price.

I mean, I know how screwed I am financially so it will be interesting to see how much the rest of the middle class can take.

Oh, and this is all from the American POV. People with Euros are in better shape.

Cyran0
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