Record 46.7 Million Americans Live In Poverty; Household Income Back To 1989 Levels

Tyler Durden's picture

At this moment, president Obama is taking to the Business Roundtable where as noted previously he will discuss "the turnarounds in the stock market, housing iprices [sic?] and job growth."

In other words: helping wealth inequality hit record levels, permitting Chinese and other offshore "investors" to push high-end US real estate prices to never before seen levels, while everyone else "benefits" from record jobs for bartenders and waiters.

As for the stock market, other socialist leaders will laugh at Obama's puny returns.

That said, here are some things Obama will not discuss.

According to the just released Census Bureau annual report on Income and Poverty, in 2014 the official poverty rate was 14.8% as a result of a record 46.7 million Americans living in poverty. This is the fifth consecutive year since the end of the recession that the number of impoverished Americans has barely not budged. What recovery?

Worse, while there was no material change for the percentage of Americans in poverty, there was a statistical increase in the number of people in poverty who had at least a bachelor’s degree (rising from 3 million to 3.4 million in one year) and married-couple families. Because through higher education and debt, to poverty.

The people living in extreme poverty, i.e. below 50% of the poverty minimum, also rose to an all time high of 20.8 million.

 

Of the 91 million Americans who were out of the labor force in 2014 and otherwise did not work, a record 24.2% or 22 million, lived in poverty.

 

But the most damning fact about the total failure of the US recovery, and one thing Obama will certainly not mention, is that the median real household income, after posting a modest increase in 2013 to $54,462, dropped once again, sliding 1.5% in 2014 to $53,657 and down from a high of $57,843 record in 1999.

This was nearly the same as the $53,306 median household income recorded in... 1989.

So all those talking about Japan's lost three decades, perhaps it is time to mention America's lost 25 years...

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AlaricBalth's picture
Cost Of Living 1989
How Much things cost in 1989  Yearly Inflation Rate U.S.A. 4.83%  Year End Close Dow Jones Industrial Average 2753  Interest Rates Year End Federal Reserve 10.50%  Average Cost of new house $120,000.00  Average Income per year $27,450.00  Average Monthly Rent $420.00  Average Price for new car $15,3500.00  1 gallon of gas 97 cents  US Postage Stamp 25 cents  BMW 325 $21,400  Ford Probe $12,695  Ham and Cheese Pizza $2.59  Rib Eye Steak Lb $3.79  Ritz Crackers $1.79  Barb
cowdiddly's picture

I prefer to use 1970 the last year of sound money.

Cost of new house 23,450

Avg Income              9,400

Minimum wage          2.10

Movie ticket               1.55

Gasoline                     .36 cents gal

Postage stamp              6 cents

Sugar                          .39 cents 5lb

Milk                              .62 cents gal

Coffee                       1.90 lb     

Eggs                           .59 doz

Bread                          .25 cents

Thats your real basket of goods and services. Thank you Janet, may we have another          

 

 

KnuckleDragger-X's picture

Careful, or you'll be sent to the 'fun' camp for badthink about real money......

Rukeysers Ghost's picture

Your list just shows how much better things are now. Today I can buy an '89 Probe for about $700. That a far better value than $12K.

Takeaction2's picture

If you can find one that is not in the junk yard...where it belongs.  HAHAHAHAHHAA

Zirpedge's picture

http://www.ebay.com/itm/BMW-3-Series-324TD/251477768439?_trksid=p2045573...

You can still get the 1989 BMW Turbo Diesel for the half the sticker price. I'd say that's a good value. Attractive car with plenty of options. Those old diesels were well made and will run forever.  

Son of Loki's picture

" Yes we can! "

 

... and Bankers have never been richer!

ATM's picture

soot spewing piece of shit. And it's been in Cali buringing biodiesel. I wouldn't touch it. first repair will be $20,000.

CoolBeans's picture

Hey...I loved my Probe.  I know...not a fan base out there but after an initial (huge) issue under warranty...mine lasted a loooooong time.

CoolBeans's picture

Never had bazaar issues with the Probe like I have had with BMW....I'd like to add.

Takeaction2's picture

As the Fed says.....get yourself some assets.  

RawPawg's picture

and about to ADD a Gazillion more,apparently...Well Played,USA.

RopeADope's picture

How about we adjust the poverty level over the years with a M2 deflator adjusted for population growth.

Oops my bad...You are all poverty stricken suckers now.

larz's picture

I cannot listen to that pompous pathalogical liar and his fawning press muppets It makes me ill  it truly is beyond my comprehension American liberal progressives eat it up and I still hear people say "best president ever"  i just cant wrap my mind around this

LawsofPhysics's picture

"Winning!"  that is all...

Legal_US_Immigrant_Citizen's picture

The median income is back to where it was 25 years ago but Stock market has been close to all time highs, recent 10% correction notwithstanding.  The Government is controlled by the Oligarchs.  

sopko16's picture

Here comes the unwind of China purchases of foreign real estate. It will need to be turned to cash to cover mgn calls on their mess over there AND I suspect they are going to hike the yuan value soon: Become a consumer based econ and hopefully stop the crazy BOP stuff here in the US that only fiat can create... hahah

q99x2's picture

Pick on the college students you will.

RopeADope's picture

Oddly enough inmates are also considered to be below the poverty line.

Such strange bedfellows for college students...

City_Of_Champyinz's picture

Now correct me if I am wrong but I thought the great society programs were supposed to fix all this poverty shit?

$28 trillion redistributed, and all it cost was the complete destruction of the Black family structure.  Yet the poverty rate is virtually unchanged.  That is a record of success that socialist morons like Bernie Sanders should be proud of.

NoPension's picture

Work for the Government.
Work for a Government contractor, of some sort.
Collect a government pension.
Collect SS Disability.
Live a shit existance, but on Welfare.
Be an " illeagal, under the radar, no records, no tax, invader"
( that can just waltz back out when things get tough)

Ways to survive in the USA today.

In 1983, I got married and chose to go the route of hard work, business owner, entrepreneur.

Hindsight being 20/20, a better decision would have been to get a job with county roads, cutting the grass in the median strip. I'd be retired with a gold plated pension, and grabbed another county job, for the double dip.

Seasmoke's picture

Correct. And yet every public taker I speak with, refuses to admit the unsustainable situation they believe they are entitled to. It is mind numbing. Kill the pensions. Pay as you go. Get back to reality. And maybe people will stop being kicked out if their houses to pay for these unfair, colluded, pensions. 

ATM's picture

If they agree with you then they are admitting that their entire existence is a farce supported by fairy dust and stealing from other.

They will never accept that as it means they are thieves. They actually know this but cannot mention it in public.

NoPension's picture

I know whole families working for local government . Husband and wife. Father. Mother. Nepotism reigns supreme.
They live like royalty.

Do I sound envious and bitter?

Kickaha's picture

You sound rather matter-of-fact.  Learn to curse.

CoolBeans's picture

That conversation has floated around this household several times as well.  

But....we're smarter, faster and better off mentally (at least I hope so) to have gone the entrepreneurial route.  We are also raising strong-willed and independent teens who are unlikely to go work for "the Man"

Dapper Dan's picture

Have you heard this one “one in six Americans are hungry and don’t get enough to eat”

In 2013, 49.1 million Americans lived in food insecure households, including 33.3 million adults and 15.8 million children.

http://www.feedingamerica.org/hunger-in-america/impact-of-hunger/hunger-and-poverty/hunger-and-poverty-fact-sheet.html

Food insecurity is the most broadly-used measure of food deprivation in the United States. The USDA defines food insecurity as meaning “consistent access to adequate food is limited by a lack of money and other resources at times during the year.”

 

However,   More than one-third (35.7 percent) of adults are considered to be obese. More than 1 in 20 (6.3 percent) have extreme obesity. Almost 3 in 4 men (74 percent) are considered to be overweight or obese. The prevalence of obesity is similar for both men and women (about 36 percent).

 

We need to take from Paul and feed Peter

khnum's picture

The cost per plate to see this turd live is probably even more than Benny Hinn charges

nyse's picture

Its sickening that this makes me feel better about myself. Yuck.

rosiescenario's picture

Obviously the TBTF bankers come first....poor folks just do not have any political pull and cannot afford to make donations. Obama is such an incredible scam...it is amazing that few see through this obvious BS.

nosam's picture

I wonder if that poverty chart is right. Has there been no significant increase in poverty in the last 4 years? This data is fake like everything else.

NoPension's picture

I'd think it's safe to say, it's damn near impossible to starve to death in the USA today.
Now, feeding you death is another story.

stant's picture

Thanks for the ride

PoasterToaster's picture

When they first set up this system of slavery, the Protestant work ethic was leveraged to enforce it on the public.  A false morality was laid over people's natural inborn morality, and this was the morality of the slave that we currently enjoy.

The promise of buying your freedom was "retirement".  If you were a good slave your whole life, you could be put out to pasture in your last few useless years.  When they took that away by zero interest rates and high taxes, they lost their moral authority to crack the work ethic whip on the "lazy".  Their public narrative is falling apart.

Now that it is becoming widely known that there are no open slave positions, and that 90% of the slave positions that do exist will not pay enough to live and prosper, further cracks in the current public moral paradigm are appearing.  These will widen into fissures and discontent will grow.

These numbers in this article, as surprising as they may be to some, are understating the problem greatly.  They are far lower than the truth, but this is as much as they will admit.  They have been piss poor stewards of the public trust, as they term their position in the social hierarchy.  If the peasants start learning the truth it will be all over for this incarnation of the system and its elite.  No one will comply anymore, and that's all it takes for the edifice to crumble.

Banker Buster's picture

Well it all makes sense then why housing prices are through the roof.  /s

Well done Fed.  If the Federal Reserve actually worked for anyone besides the banks, they would be FIRED, because they failed miserably.  Take the power away from these idiots already.  Why America lets these morons decide anything that is of importance is crazy.  

People taking out huge loans on overpriced assets because they can "afford the payments", enslaving themselves and destroying their future in the process is sad to watch, but banks love it.

youngman's picture

His speech was just all the great things in his mind that he has done....wow.what a God he is....the King...all bow down to the King....we should be at 5% interest by the Feds if we are that strong...

Bill of Rights's picture

Bullshit the economy is strong MDB told me so :)

jon dough's picture

Wait until it hits 1889 levels...

Rabbi Blitzstein's picture

Hahaha! We love keep goyim in confusion. Fool them with kosher statistics and fallacious words. Anyone in America called ‘Americans. Most 46.7 millions are non-white invaders. They breed like rats. Live on welfare. Be in poverty. If work, paid low wage. Kosher press use stories like this make whites feel guilty. Make white goyim consent to higher taxes. Give more money to non-white invaders. Most whites in poverty not counted. Not on welfare. Try hard to stay off dole. Would rather keep pride and live in poverty before ask for handout. Droves of invaders shipped in by kosher run government. Invaders expect and demand free everything. Kosher press make taxpayer feel white guilt for white privilege. Very soon ‘America’ be third world.

 

This how kosher created ‘democracy’ work:

 

Step One 

Sell an idea to the population that doesn’t exist in reality, similar to the jew-Bolshevik idea in 1789 France such as “Liberty, Fraternity, Equality”. In this case, it’s “Democracy” as sold to the population in the early 1900s by the jew Edward Bernays who was just working to keep the world safe for democracy (wink-wink, nudge-nudge).

Step Two

Change all the immigration laws just like the jews did after WWII.

Step Three

Import hordes of non-Whites into countries that are predominately White – that is, created by Whites and reflecting the innovations and hard work of the White race - all while forcing the White indigenous population to foot the bill.

Step Four

Increase the sheer numbers of the non-Whites to such an extent that they can “democratically” change the White Western culture into a third-world cesspit.

Step Five

Add in heavy doses of White guilt, jew-controlled mass media, a ZOG government, and then, before you know it, Prest-O Change-O! you have democracy busting out everywhere and making the world a safe and wonderful place for everyone, unless of course, you happen to be White. But who the hell cares, just as long as it happens “democratically”, right?

 

OY VEY!!!

InnVestuhrr's picture

How many of these alleged "Americans" are the 10's of MILLIONS of imported poverty of Latin America ?

2handband's picture

As I stated upthread, I live in rural MN. Almost everyone is white. Most are poor.

InnVestuhrr's picture

Are these poor whites breeding ?

Rabbi Blitzstein's picture

White goyim can't afford families. Too busy working to support welfare blacks. If kosher tribe can't get you die off naturally, we breed you out with race-mixing or drive-by shooting. Your preference. Oy Vey!!

Rabbi Blitzstein's picture

Goyim kvetching soon in rural MN. UNHCR seeding programs underway. Communities less than 13.8% black soon be seeded with sub-Saharan black ‘refugees’ staged in Twin Cities. Just look at St. Cloud. Heh heh. Goyim keep eye out for HUD section 8 housing programs in white rural areas. Goyim wonder why unexplained police force buildup per capita. You see rural town 95% white with 1200 population, with 15+ cops? Why? Imported blacks send crime through roof. Big money be made on white suffering. Blacks and other non-whites are kosher proxies. We make you pay for your own destruction. Stupid white goyim. We put in your face but still not see. Soon you beg for police state. You cry please, please protect us. LOL! OY! OY! OY!

COL Jackson's picture

I know how to fix this problem, lets redouble our efforts and bring in 4 million immigrants a year to drive down wages even further.  That will really turn things around.

nnnnnn's picture

 

 

46.7 Million? let me guess..

26 million african american and 20 million hispanic latinos?

Rabbi Blitzstein's picture

BINGO! Give that man a bagel. LOL!!