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« Is the Subprime Finance Meltdown Growing Contagious? | Main | Another Financial Nightmare-in-the-Making »

February 28, 2007

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is the same true across all income brackets? does the EBRI have this data?

We have come from a business model that no longer works where all you had to do was work for 30 years or less at a company and not have to be concerned about the next 30 when you retire. That model has proven to be the downfall of Ford and GM. It still has a ways to go with other companies buckling under this model. (look out)

All of the sudden every Joe six pack was forced to become a stock analysis and economist if he wanted to know what the heck he is going to invest in. But as you know Joe Six pack is way too busy making a living to pay the slightest bit of attention to his portfolio so he leaves it to the company suits to advise him. In the meantime fund managers are scooping billions of $ per year in fees, what a scam. I wish I was in on this. They then give out billions more in year end bonuses…only in America.

At the same time inflation is stripping away $ purchasing power every year, and will for as long as we have a private bank creating our money. Funny how they deceive the public by calling it the “Federal Reserve”. I wonder how many Joe Six packs think that FedEx is a government run agency ; .

Anyway…The middle class, because we are the majority will continue to be squeezed until we buckle and can no longer keep our heads above water. Between my wife and me we make $150K, and live in NJ which is very expensive. We own a 1600 sq ft cape house and are finding it more and more difficult to get by. (I have 3 smaller mouths to feed and clothe also) Especially when I look at things like my oil delivery bill this month, $800.00 to fill er up. Back in 2000 it was $360.00 !!

Until next time, Good luck out there.

I don't know the answer to the question of whether the same is true across all income brackets, but you might try sending an email to the organization that compiled the data at info@ebri.org.

Is "consumer discretionary" a nice way of saying that these people live hand-to-mouth?

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