Can The Middle Class Survive the Government Squeeze
The U.S. middle class is under attack—by its own government.
In the United States, the middle class has been a key characteristic of the American Dream. Part of being “middle class” was the ability to own a home, to drive a car, to raise a family, to host backyard barbecues—and most importantly—to be upwardly mobile. Historically encompassing the broadest, largest swath of the population, t he middle class is what defines a nation, not only by its productivity and wealth, but by its vote—which determines the course of a democracy.
But for the past several decades, the U.S. government has been bent on riding its middle class into the ground, supported by the policy weapons wielded by the Federal Reserve. But in some nations—including in some pretty surprising places, the middle class is actually expanding. There are lessons to be drawn from examining why the middle classes in other countries are finding success, while the U.S. middle class is suffering.
After a years-long spending spree of government bailouts, stimulus packages, and quantitative easing from nearly every major nation in the world, the bill for governments’ spendthrift ways is about to come due. The only thing that remains to be seen is what form that bill will take… Will it be years of backbreaking higher taxes, or widespread credit defaults, or maybe aContinue Reading →
Even as thriving middle classes spring up in emerging economies such as India, China, Brazil, decades of currency debasement and free market manipulation has the once-great U.S. middle class on the ropes.