Sat Apr 13, 2019, 09:26 PM

Americas Upper Middle Class Feeling the Pinch Too

(Bloomberg) -- Newly available net worth data from the Federal Reserve suggests that the “left-behind” contagion has spread to all Americans aside from the top 10 percent. While still wealthier overall than most other groups, even the upper-middle class is feeling the pinch of income stagnation. The growth rate of this group’s incomes is lagging behind that of those both lower and higher on the socioeconomic ladder.

The cost of many products and services the upper middle class buys, from autos to college educations, is outpacing overall inflation. While having access to credit, these households are increasingly tapping into costlier forms of debt.

These five charts shed light on current trends:

Over the past decade, household debt composition, in aggregate, has shifted away from home mortgages -- as the main item in the overall debt portfolio -- to credit with higher financing costs.

An analysis of more than 87 million U.S. single family homes by ATTOM Data Solutions found that in 2018 property taxes rose by four percent annually on average.

As of February, only incomes among the top 25 percent surpassed this rate an an annual basis, according to the Atlanta Federal Reserve. This means that for the rest, a greater share of income must go toward property taxes, leaving a smaller slice for everything else.



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Reply Americas Upper Middle Class Feeling the Pinch Too (Original post)
RCW2014 Apr 2019 OP
Grumpy Pickle Apr 2019 #1
def_con5 Apr 2019 #2
Grumpy Pickle Apr 2019 #3
planetX Apr 2019 #4

Response to RCW2014 (Original post)

Sat Apr 13, 2019, 10:43 PM

1. The Globalist Federal Reserve was established to suck all the wealth out of the US

and create as many debt slaves as possible.

My father was a banker....he told me the inside story of this POS institution.

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Response to Grumpy Pickle (Reply #1)

Sun Apr 14, 2019, 08:02 AM

2. In that case you might enjoy

creature from jekyll island by G. Edward Griffin

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Response to def_con5 (Reply #2)

Sun Apr 14, 2019, 04:59 PM

3. Yep...read it.

Today is the 106th anniversary of the sinking of the Titanic.

Some people think that the Titanic may have been deliberately sunk by J.P. Morgan to kill off John Jacob Astor and Benjamin Guggenheim who both opposed a central banking system in the US. Morgan had a ticket on the Titanic , but canceled at the last minute. The Federal Reserve Charter was passed the next year.

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Response to RCW2014 (Original post)

Sun Apr 14, 2019, 05:16 PM

4. hella yes

my perty taxes have hit over 5k, doubled here in the past couple of years. All those illegal aliens don't come cheap, you need ESL teachers in all the schools .

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