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Middle-Class Comfort Plunges To 4-Year Lows Relative To Rich
Bloomberg's Consumer Comfort gauge dropped to 4-month lows this week with across the board collapses in personal finance confidence, buying climate, and the state of the economy (78% not-so-good). However, it is under-the-surface data that exposes the sad reality of this so-called 'recovery'.
For those earning over $100k, "comfort" nears record highs, for those earning below $40k, "comfort" plunged in the last few weeks to near 2-year lows. This has surged the rich-to-middle-class discomfort gap to near 4-year highs... thank you Ben.
Chart: Bloomberg
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Is it me or is it getting warm in here?
It's you. It's hot as He'll in here.
"Middle Class" is a propaganda term. For the last 3000 years there have been only two classes of people. THE WORKING CLASS and the PARASITIC CLASS...
where do waiters fit into your scheme?
That would depend on whether they get to keep their tips, or if they have to share with the cook, bussboy, etc.
Wait, America has a middle class?
http://www.planbeconomics.com/2013/08/the-destruction-of-americas-middle...
Waiters perform work so... working class? Maybe?
Nicely done to cut through the Matrix and observe truth. I would add a destitute class that was cut off by the parasite class, either directly or indirectly through their systems of operation.
Didn't anyone see Obama today? Everything's great!
Hell, I'm not middle class and I can't afford shit. You know what a decent set of night vision goggles go for these days?
The middle class knows they are 10 feet away from the lower class and 10,000 miles away from the upper class.
The middle class is a few paychecks or one more year of ZIRP away from the lower class.
to think that even the condemned and soon to be extinct middle class is allowing the opportunity to protect themselves and their loved ones from the destruction that has only just begun due to the deeds of the MoneyChangers to slip away is sad...
Silver at $17 an oz and yet the 99% remain blind to the power each ounce places in their hands...meanwhile the beneficiaries of MoneyChangers r moving with the quickness - and doing what with all those debt coupon dollars and proceeds from a re-inflated housing bubble soon to bust?????
"Investors hedging their bets with a bar of gold or two
Jared Lynch
Published: October 2, 2014 - 6:00PM
Every month a property investor walks into Neil Tremaine's gold vault and deposits $250,000 worth of bullion. Why? The investor hopes it will act as a hedge against a plunge in an overheated property market. He is not alone. Demand for the precious metal is growing among the super rich, who are snapping up gold coins and bars. At Perth Mint – Australia's only gold refinery and the world's second biggest producer after China – sales of gold coins and minted bars rose to 68,781 ounces in September, their highest since October last year. Minted bars, which range from 1 gram to 100 grams, took the lion's share of the increase, rising 37 per cent to 12,238 ounces, with investors in Germany and the US the biggest buyers. "The bigger the bar you buy, the lesser the premium per ounce, so what we are finding is the smarter investors are looking at the minted bars," Perth Mint wholesale manager Neil Vance said. "It's at the price now ... where some of the investors are coming back into the market again.” The Perth Mint is not the only gold business to notice a surge in demand. The US Mint revealed this week that sales of gold coins more than doubled last month to 58,000 ounces, the highest since January."
This story was found at: http://www.smh.com.au/business/investors-hedging-their-bets-with-a-bar-o...
King Fucking Tut would feel uncomfortable relative to our new ruling rich!
But not because of wealth, he would feel uncomfortable next to hubris and stupidity.
If they were stupid, they'd be losing wealth and power, right?
So, are they?
Or are they gaining both wealth and power while impoverishing the chit out of people who perceive themselves to be geniuses compared to the idiots who are taking everything from the geniuses?
Do you spot a contradiction... like the size of a white elephant in the middel of the room?
Middle class? I thought they were extinct. Did this analyist locate the last middle classian standing?
I'll bet his name was Bob.
Dead people are feeling less sick.
We got no class
And we got no principles
And we got no innocense
We can't even think of a word that rhymes
The rich make their money primarily in the capital economy, whereas the middle class makes its money primarily in the labor economy. The capital economy is taxed less than the labor economy, raising the cost structure of the labor economy relative to the capital economy. Thus, the capital economy flourishes at the expense of the labor economy. "I am a voice, crying in the wilderness...." Equalize the taxation of earnings from capital and labor and many, many problems will disappear.
Just part of the process of enslavement of the middle class.
I'm sure that comfort will really plunge when people start gushing blood out of every orifce. My advice to anyone who comes down with Ebola symptoms - make your way to the Hamptons, and piss on everything you can when you get there.
$40k? $40k must be lower class.
$100k is middle class at best, but even then it's a stretch.
It really depends on where one lives. Having said that, almost everyone lives where the reality is exactly like you explained.
$40k a year is definitely not middle class anymore.
If we had 1998 housing costs, it would definitely be.
But in this housing bubble absolute insanity, $40k a year gets you a run-down house in the rough side of town... kind of like Tyler Durden's house in Fight Club on Paper Street with the fart smell of steam and the hamster cage smell of wood chips.
Relative to rich? Who gives a flying fuck? Relative to themselves I'm going to bet the statistic doesn't look so pitchfork inspiring.
I agree, much better to be wealthy, so why would anyone stay poor or only middle-class ?