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An Obituary for the American Middle Class


abbyjoseph
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It’s the elephant in the room no one wants to talk about…

The middle class in the U.S. economy is on the verge of collapse. Yes, I said collapse. That social class that once helped the U.S. economy grow and prosper is coming apart. Will the U.S. economy ever be the same without it or is this the new norm?

Here’s why it’s important to you.

The middle class helped the U.S. economy (following World War II and up until the credit crisis of 2008) by buying goods and services they needed or wanted. They bought cars, TV sets, furniture, appliances, clothing, computers, and flashy gadgets. In simple terms: they spent money.

The spending by the middle class resulted in American companies selling more, making more, and hiring more people to meet consumer demand. Businesses then took their profits and invested in new projects and built more factories. This is how cities like Detroit flourished.

But where does the middle class of the U.S. economy stand now?

Signs of trouble for the middle class of the U.S. economy actually started to surface at the start of the new century, but it wasn’t until the financial crisis when the middle class in the U.S. economy really started to deteriorate.

Today, the middle class is not buying or spending like it once did—and this is not by choice.

Source :-  http://www.profitconfidential.com/economic-analysis/an-obituary-for-the-american-middle-class/