While hardly news to frequent visitors, especially those who recall the following list, anyone who needs a 7 minute refresher into why the US middle class is on collision course with extinction is urged to watch the following brief video which highlights all the salient facts such as:
- 76% of Americans live paycheck to paycheck
- 27% of American have no savings at all
- 46% of Americans have less than $800 in savings
- The conversion of America into a part-time working society and the country's second largest employer - a temp agency.
- The college trap and the student loan bubble
- And of course, foodstamps, foodstamps, foodstamps and the nearly 50 million poverty-level Americans who need them to survive
Why seven minutes? Because everyone knows that just like you can't get "six minute abs", so it is impossible to recap the doom of America's middle class in only six minutes (or, gasp, less).