The middle class is vanishing, by whatever measure one uses.
If you ask the mainstream media, they will tell you that about half the country is still middle class. In fact, a CNBC article that just came out says that “52% of American adults live in ‘middle class’ households”. Of course that is down from 61 percent in 1971, but considering everything we have been through in recent years, that still looks pretty good. But is it the truth? In the end, it all comes down to how you define “the middle class”. If I defined the middle class as anyone that makes from zero dollars to a trillion dollars a year, then 100 percent of Americans would be considered “middle class” by that definition. So we can’t just look at the final number they give us. Instead, we have to dig deeper and find out how they came up with the number in the first place.
The larger the household, the more income it takes to sustain a middle class lifestyle. And according to CNBC, the definition of a “middle class household” is extremely broad at every household size…
Household of one: $26,093 to $78,281
Household of two: $36,902 to $110,706
Household of three: $45,195 to $135,586
Household of four: $52,187 to $156,561
Household of five: $58,347 to $175,041
If you are single person and you are making just $26,000 a year, there is no way that you should be considered part of “the middle class”.
Ken Fisher would assure this is nothing but an accounting entry anomaly. Just part of our history – which is also vanishing.
If a ruling political establishment and its media organs offer lavish rewards of funding, promotion, and public acclaim to those who endorse its party-line propaganda while casting into outer darkness those who dissent, the pronouncements of the former should be viewed with considerable suspicion. Barnes popularized the phrase “court historians” to describe these disingenuous and opportunistic individuals who follow the prevailing political winds, and our present-day media outlets are certainly replete with such types….
World War II ended nearly three generations ago, and few of its adult survivors still walk the earth. From one perspective the true facts of that conflict and whether or not they actually contradict our traditional beliefs might appear rather irrelevant. Tearing down the statues of some long-dead historical figures and replacing them with the statues of others hardly seems of much practical value.
But if we gradually conclude that the story that all of us have been told during our entire lifetimes is substantially false and perhaps largely inverted, the implications for our understanding of the world are enormous.
*Poof*!!! Just gone…