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When The Financial Clock Strikes Zero – Half Of Americans Pass Away With Nearly Zero Wealth. The Middle Class Has Contracted By Ten Percent In The Last 40 Years.

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My Budget 360

 
A recent study demonstrates the precarious financial position many Americans find their lives in. The National Bureau of Economic Research found that nearly half of Americans pass away penniless. The exact figures were sobering stating that many of these Americans end up with no financial assets including home wealth and typically rely heavily on Social Security. This study points out a couple of important items regarding the state of the economy for many families. Many simply cannot save and end up relying on external funding. The system is witnessing heavy strain on these sources at a time when government spending is off the charts for bailouts and other targeted spending. Yet the typical American is still ending up in a financially precarious state. In the last four decades the middle class has contracted by ten percent. What does it say about the economy when half of the inhabitants of the wealthiest country pass away with almost no wealth?
 
continue at My Budget 360:
 



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    • truthseekerinmo

      Most Americans have 401k accounts tied to the derivatives market, and
      that market is a bubble poised to burst. Not to mention the banks are
      still doing business exactly the way they did before the near collapse in
      2008. How can you keep doing the dame things yet expect a different
      outcome? This year the debt ceiling has to be raised and it’s at or near
      16 trillion. That’s just to pay for debt that’s due now. China’s economy
      may be sliding and we depend on them to finance our debt. The Euro
      zone is still on the edge too. We have people in Congress that have no intention
      of doing anything to make this economy better because that would be
      helping a President they have sworn to destroy. Romney and Ryan are
      planning on austerity measures for the poor and middle class and better
      times for the rich. They have no plan for an economy that might crash
      right around the election or shortly after and don’t believe in stimulus or
      bailouts. So, my advice is to get ready for hard times, either way. :cry:

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