As if there was any doubt, this NYT article pretty much reaffirms what a lot of us know: that the US middle class is disappearing and companies that target the middle class are going broke while ones that cater to the 1% are getting more business. It also mentions that the current economic recovery in the US is mainly being driven by the top 5% while the rest of the population keeps cutting back on spending due to increased costs of living. How long until the class divide is so bad that you have the poor coming after the rich? I saw this coming over a decade ago when outsourcing first started and most US industrial jobs shifted to China and IT to India. Service sector economy was always a thinly veiled disguise for "service the rich while step on the middle class".
http://www.nytimes.com/2014/02/03/b...eroding-just-ask-the-business-world.html?_r=0
http://www.nytimes.com/2014/02/03/b...eroding-just-ask-the-business-world.html?_r=0
Last edited:
Facebook
Twitter