MIDDLE CLASS LOSES 40% OF WEALTH DURING THE INVISIBLE DEPRESSION

All statistics right now point to the US, and most of the world, in a growing depression. Unemployment here and abroad hovers in the mid-twenties, housing has fallen to record losses in equity, and more and more people are saving less while relying on food stamps (the new soup kitchens) to survive. Yet, everyday we hear the economy is improving and things are getting better, even though we all know it isn't true. Obama was pounced on this week by saying the private sector was doing just fine, which it isn't. Romney had his own foot in mouth just hours later by saying why would we possibly need more teachers, police or firemen and Wisconsin was right in firing dozens of them. This proves he hasn't been in a public school in decades to see how crowded they have become.

So we suffer through the Invisible Depression, at least to the press, the government and the elites. The rest of us are getting screwed on a near daily basis and unless we relish a world with the poor in crumbling cities while the rich hide out in walled off societies, we better start doing something about it.

This week the Federal Reserve put out there triennial Consumer Finance Survey (CFS) and showed data that those of us who were in the middle class already know: we got beaten worse than Rhianna after a Chris Brown drinking binge. As housing plummeted, so did the net worth of every middle class American. On top of that, savings nose dived as a lot of us got laid off, health care soared, college became out of reach for many without crushing loans and the jobs we were lucking enough to find paid half of what most used to make. As a result, the middle class lost 40% of its wealth. This while the top one percent actually made money.






The above graph shows a huge loss in wealth due to several factors that have NOT been corrected and show no sign of ever doing so. This is going to push more people into poverty, further straining social services which the GOP will paint as going insolvent due to "lazy hippies sponging off the system," rather than starving families just trying to get by.



The stock market on the other hand, rebounded just fine, mostly due to market manipulation by high speed computers which the average investor has no access to. This has led to record wealth inequality where the top 10% saw net increases in salary of an average $20,000 in 2010 while middle classes saw their salaries drop by a third for the same year. So while they get fat on the hog, we are told to work harder for less.

Government studies show the biggest increase in jobs over the next decade will be low paying job further decimating the middle class.




Notice the steady decease in wages? Funny thing is that I am pretty sure things were MUCH cheaper in 1973 than now, even though wages have gone the other way. Yet, here we are still working as slave labor and told to like it.



A majority of this country makes shit for a salary while an elite few grab more and more as "job creators," and if by job you mean slave then yes they are doing a bang up job.

So what jobs can we expect?


Again, most of the jobs, including the top two, pay squat. Six of the ten pay less than $30,000 and only one in what should be the median salary range for this time period.

So this is what the GOP is fighting for and the democrats are quietly hoping for. Some in the Tea Party have woken up to the fact that they have been duped and getting pissed. Rand Paul's endorsement for elite head Romney did not win him any favors and as he has backed down on a number of issues, like ending the TSA, his stature has fallen hard. I can only hope that these individuals will leave the dangerous Tea Party and do what we should be doing which is engaging in massive civil disobedience at this point. Voting for either party is a lose/lose situation at this point and unless we find somebody to rally behind, this country is a lost cause.