The Federal Reserve Just Declared the American Dream Is Officially Dead for Most of America
We all know what comedian George Carlin said about the American Dream: that you have to be asleep to believe it.
Well, now the Federal Reserve is agreeing with him.
In a new study published by the Federal Reserve Bank of St. Louis, they admit the American Dream is largely dead — an impossible goal for a majority of the country.
In the study, Stanford economist Raj Chetty measured, “the probability that a child born to parents in the bottom fifth of the income distribution makes the leap all the way to the top fifth of the income distribution.”
Chetty concluded that American children have a whopping 7.5% chance on average of actually achieving the American Dream in America.
Sure, a chance is still a chance, but that’s a really low chance.
As it turns out, Americans who actually want to achieve “the dream” would have a better chance of doing so in Canada (13.5%), Denmark (11.7%), or even the UK (9%) than here in the US.
But 7.5% is just the average, mind you. When you get down into the major cities, 7.5% looks more like a cruel, unachievable joke.
“In the city of Baltimore, you unfortunately have only a 3.5 percent chance of making that leap from the bottom fifth to the top fifth. That compares with 4.7 percent in D.C.”
Of course, your chances are higher if you are a child graced with the luck of being born in a predominantly wealthy, suburban neighborhood, but come on everybody knew that already.
It’s just “rich” to hear the Federal Reserve admit the American Dream is dead, that’s all.
Delivered by The Daily Sheeple
We encourage you to share and republish our reports, analyses, breaking news and videos (Click for details).
Contributed by Piper McGowin of The Daily Sheeple.
Piper writes for The Daily Sheeple. There’s a lot of B.S. out there. Someone has to write about it.
Source: http://www.thedailysheeple.com/the-federal-reserve-just-declared-the-american-dream-is-officially-dead-for-most-of-america_032017
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
| Visits: | 1,706,517,730 |
| Stories: | 8,445,879 |
Whistler Blowers, Insiders
