Home Ownership rate
We were invited to have dinner with our neighbors John and Helen on Thursday before we left Portland. It was a very nice thing to do. We had slaved all day packing, cleaning and taking furniture and stuff to storage. The food was delicious and the conversation was lively. Both John and Helen were optimistic about the economy and disagreed of my harsh assessment. Of course we disagreed about Obama, and global warming, too.
I see the possibility of the US collapsing into another depression. That was one reason we were happy to have sold our house so rapidly.
Tonight, I just pulled up an article at Zero Hedge by Michael Snyder via The Economic Collapse blog. He writes:
“If our economy was working the way that it should, the middle class would be thriving.
“But instead, it is being systematically destroyed. If you doubt this, I have some statistics that I would like to share with you. The following facts come from my previous article entitled “The Death Of The American Dream In 22 Numbers“…
“#1 The Obama administration tells us that 8.69 million Americans are “officially unemployed” and that 92.90 million Americans are considered to be “not in the labor force”. That means that more than 101 million U.S. adults do not have a job right now.
“#2 One recent survey discovered that 55 percent of Americans believe that the American Dream either never existed or that it no longer exists.
“#3 Considering the fact that Obama is in the White House, it is somewhat surprising that 55 percent of all Republicans still believe in the American Dream, but only 33 percent of all Democrats do.
“#4 After adjusting for inflation, median household income has fallen by nearly $5,000 since 2007.
“#5 After adjusting for inflation, “the median wealth figure for middle-income families” fell from $78,000 in 1983 to $63,800 in 2013.
“#6 At this point, 59 percent of Americans believe that “the American dream has become impossible for most people to achieve”.
“You can read the rest of that article right here.”
We will miss the lively discussions with John and Helen. We will have to wait awhile to see who is right. Being right in my case would not make me happy.
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