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Normally I like to keep things pretty upbeat around these parts, but I think today I think there is an important topic that needs to be addressed. The middle class collapse.
Middle class collapse. What we are seeing right now could only be determined as a middle class collapse. The experiences from my own life have brought me to this realization from being laid off twice as a teacher to finding people in my age group are having difficulty finding a job.
The hourly rates of jobs remains about the same while the price of almost everything continues to go up even if you are a discount or Wal-mart shopper. You hear stories now people applying for over 200 jobs before even receiving a single interview. You hear things about like the stock market collapse that is coming as soon as the government stops printing money out of thin air. You hear things such as people going through garbage not just regular homeless people but good honest people who are looking for anything any find to eek out a living. Crime rates around here have risen significantly. Banks are getting tougher about giving out loans.
That is why this time may be more important than ever to raise your financial IQ. To figure out how and where to buy assets. To figure out how and where to invest your money. To play the best offense and defense financially that you can.
I think it maybe someday soon that there is no longer a true middle class. You will see mostly upper-class and mostly lower class with a very small percentage living in the middle class. So if you are currently in the middle you must decide which way you want to go up or down to rags to riches. In the end only you can determine your financial future.
Agree? Disagree with the middle class collapse? Share your thoughts and stories in the comments. Thank you for reading and good luck on your journey through the financial frontier