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Thu Apr 11, 2019, 08:45 AM

Fewer millennials are making it into the middle class

In the United States, just over 50% of the population is middle class, much smaller than most other developed countries.

The report considers households earning between 75% and 200% of the median national income as middle class.

Higher costs, less income

Rising income inequality is part of the reason for the trend. Over the past 30 years, median incomes in OECD countries increased a third less than the average income of the richest 10%, the report found.

At the same time, costs are going up faster than inflation in the world's richest economies making it harder for the middle class to keep up. Home prices, in particular, have been growing more than a third faster than median household income in recent decades. The middle class spent 32% of their budgets on housing in 2015, compared to 25% in 1985.

https://www.cnn.com/2019/04/11/business/middle-class-oecd-report/index.html

If this trend continues, the middle class will disappear. There will be the monarchy (executive branch), the aristocracy (the wealthiest, including the oligarchy), and the peasants. Just like in medieval England. The monarchy & aristocracy will say the peasants are to blame for being peasants; they made poor choices.

The system is increasingly rigged against The American Dream. If you're born poor in the U.S., it's increasingly difficult to rise above humble beginnings. This is happening in other countries, too, to a lesser degree.

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Reply Fewer millennials are making it into the middle class (Original post)
Honeycombe8 Apr 11 OP
delisen Apr 11 #1
real Cannabis calm Apr 11 #2
Aristus Apr 11 #3
Honeycombe8 Apr 11 #4

Response to Honeycombe8 (Original post)

Thu Apr 11, 2019, 09:20 AM

1. Guess the middle class is full, like the country

Sorry for the sarcasm.

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Response to Honeycombe8 (Original post)

Thu Apr 11, 2019, 11:32 AM

2. here's a 5th recommendation

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Response to Honeycombe8 (Original post)

Thu Apr 11, 2019, 11:42 AM

3. And they're being chided by their feckless elders for not buying houses, not having children sooner

or in greater numbers, etc...

The ability to do and have all these things didn't happen by magic, guys! Once upon a time, we had a middle class. And they could aspire to things greater than simply making it through the workweek. Those days are gone...

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Response to Aristus (Reply #3)

Thu Apr 11, 2019, 04:24 PM

4. Are they? I didn't know that. nt

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