28 Signs That The Middle Class Is Heading Towards Extinction

From Zero Hedge:

The death of the middle class in America has become so painfully obvious that now even the New York Times is doing stories about it.  Millions of middle class jobs have disappeared, incomes are steadily decreasing, the rate of homeownership has declined for eight years in a row and U.S. consumers have accumulated record-setting levels of debt.  Being independent is at the heart of what it means to be "middle class", and unfortunately the percentage of Americans that are able to take care of themselves without government assistance continues to decline.  In fact, the percentage of Americans that are receiving government assistance is now at an all-time record high.  This is not a good thing. Anyone that tries to tell you that the middle class is going to be "okay" simply has no idea what they are talking about.  The following are 28 signs that the middle class is heading toward extinction...

Some of the largest retailers in the United States that once thrived by serving the middle class are now steadily dying.  Sears and J.C. Penney are both on the verge of bankruptcy, and now we have learned that Radio Shack may be shutting down another 500 stores this year.

Real disposable income in the United States just experienced the largest year over year drop that we have seen since 1974.

Median household income in the United States has fallen for five years in a row.


The rate of homeownership in the United States has fallen for eight years in a row.

http://www.zerohedge.com/news/2014-02-06/28-signs-middle-class-heading-towards-extinction