More evidence points out that the so called recovery of jobs and the economy is just a paper product like the derivatives that killed the market in 2008.
The article posted yesterday pointed to a 11% year over year increase in the cost of a two bedroom in Los Angeles. I’m not sure about you but I don’t get 11% annual raises. Factor in the increased cost of healthcare and heaven forbid you are footing the bill for college student and there’s no way an average household can keep up with inflation. Shit is fucked up.
Today’s good news post is regarding a gallup poll on how people feel about their economic standing:
The percentage of Americans who say they are in the middle or upper-middle class has fallen 10 percentage points, from a 61% average between 2000 and 2008 to 51% today.