Who Killed the Middle Class?

The Los Angeles Times published a grim headline: “Middle-class families, pillar of the American dream, are no longer in the majority, study finds.” The nation’s middle class, long a pillar of the American economy, has shrunk to the point where it no longer constitutes the majority of the adult population, according to a new major study. Rapid growth of upper-income households, coupled with an increase in less-educated, low earners, has driven the decline of the middle-income population to a hair Read more […]

Is the Middle Class Gone?

When you read the news of the day, and a big story confirms one of your biggest fears, the temptation to panic is great.  Today that happened for me.  Take a look at some of the  numbers released from the Social Security Administration today. You can find the report that the Social Security Administration just released right here.  The following are some of the numbers that really stood out for me… -38 percent of all American workers made less than $20,000 last year. -51 percent of all Read more […]

High Tax States Are Losing Middle Class Residents

High Tax states are the places with the most income inequality as middle class residents flee to conservative refuges. In his Washington Times column, “The redistribution racket,” Steven Moore shares an interesting chart: [See also, “Good News: Northeast United States Losing Congress.”] The bottom line is that the high tax states are losing people. Massachusetts Sen. Elizabeth Warren appeared on one of the late night talk shows last week, beating the class warfare drum and Read more […]

Chuck Schumer Thinks Dems Can Evade Obamacare Fallout By Talking Jobs

So what are the Democrats planning to do in 2014, since they probably are not going to take the honorable path by resigning in disgrace? Senator Church Schumer recently gave us an idea of their strategy on Meet the Press. “The president is working to fix it,” Schumer told NBC’s “Meet the Press” with David Gregory on Sunday. “The bottom line is, there are a lot of good things in Obamacare that people like, and the more people see that, the more positive it’s going to be. “And I would just say one Read more […]

Thought Experiment: Affordable Care Act Is Really Obama Playing Knockout Game With Middle Class

In case you haven’t heard, the “knockout game” is where one in a group of young thugs suddenly hits a passerby without warning to see if he can knock that person out. One recent instance: Police have arrested a 15-year-old and are searching for a second suspect in connection with a “knockout” attack in Northeast Philadelphia earlier this month… The victim in the November 11th assault told Eyewitness News that he was walking out of a pizza shop when he was attacked. “Someone asked Read more […]

Krugman to Middle Class: You’re Dead; Get Used to it

If it was only Krugman, I wouldn’t bother with this, but he’s not only speaking for himself. Spend any time around monetary officials and one word you’ll hear a lot is “normalization.” Most though not all such officials accept that now is no time to be tightfisted, that for the time being credit must be easy and interest rates low. Still, the men in dark suits look forward eagerly to the day when they can go back to their usual job, snatching away the punch bowl whenever the party gets Read more […]

Small Town America Dying From Recessions, Heroin, Depopulation; But Media Not Curious About Causes

The headline looks like it is ready to go all Marxist on the readers: “Reinventing the Dwindling Middle Class May Take A Revolution.” But the content of the radio news report didn’t match it. It was just sad story about a journalist returning to her hometown of Lincoln, Illinois and noticing the changes. It turns out that what’s happening in Lincoln is happening in so many towns and communities across the country: As we recover from the Great Recession, jobs are coming back. But they are not Read more […]

Implosion Architect Greenspan Blames Us for Being Irrational

The Wall Street Journal has given former Federal Reserve Chairman Alan Greenspan a careful platform so he can justify himself. The most nauseating thing about this “interview” is it gives us few direct quotations. It mostly summarizes points. Obviously, this is simply the defense that he wishes public to swallow about himself and that the “reporter” Alexandra Wolfe dutifully produced, no doubt allowing him to edit and “correct” the final draft. If we were given a transcript or (better) Read more […]