The Social Security Administration released it’s latest economic figures this week. They’re so horrible even I was surprised…
51.4% of American wage earners made less than than $30,000 in 2014.
Think about that. No, seriously, stop for a minute and really think about that. $30K a year? That’s damn near poverty, and that’s what most Americans made last year or less. 38% of Americans made less than $20K. For the entire year!
Median household income, which means half of the population make less than this, is about $54,000 a year. By the way, that’s three percent lower than when Jesus Hopechange was elected back in 2008 to save us all.
It gets worse. That’s just wage earners. Nearly 9 million people in the US are unemployed, and 40 percent of them have stopped looking for work. Oh, and guess who will be paying their bills? If you’re an American taxpayer, YOU are.
According to Credit Suisse, if you have no debts and $10 in your pocket, you have more wealth than all the bottom 25% of Americans combined.
Again, stop and think about that. This is the once great United States we’re talking about.
I’m not shocked very often when it comes to bad economic news coming out of the Western world, but this week I was legitimately surprised. These numbers are absolutely horrible, folks.
Want a sobering comparison? As I type these words, I’m in Singapore. The economy here is booming so crazily that I’ve had very serious trouble finding office space during my stay here. Everywhere I check, office companies are telling me, “Sorry, we have no vacancies. Business is good here.”
The West falls, the East rises. That’s why I’m in the East right now, building business foundations here instead of in the Slowly Sinking Ship that is America/Europe.
And no, neither Donald Trump nor Bernie Sanders have any hope in hell of turning any of this around. Dream on.