By Michael Snyder – End Of The American Dream
Are you living “the American Dream”? If so, you should consider yourself to be very fortunate, because most Americans are not. In fact, as you will see below, a new survey has found that there is nowhere on the entire planet where the average wage earner is making enough money to live “the American Dream”. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now the middle class makes up a minority of the population, 51 percent of all American workers make less than $30,000 a year, and poverty is growing rapidly. The American Dream is essentially dead, and even the mainstream media is starting to figure this out.
Just today, someone sent me a U.S. News & World Report article entitled “Even Americans Can’t Afford the American Dream”. The following is an excerpt from that article…
The study goes country by country, factoring in average local wages and prices to calculate the regional costs of luxuries such as midsize homes (by U.S. standards, 1,480 square feet); electricity and high-speed Internet; cars and enough money for gasoline; food for a family of four; and enough disposable income to periodically dine out and attend movies or other events.
Researchers ultimately found there isn’t a country on the map whose average wage earner could afford all of these expenses together. What’s more, average consumers in Saudi Arabia and Oman are actually closer to financing these socioeconomic goals than the average American. The average Saudi household would only need to see monthly salaries climb by about $74 to realize the American dream in their own country, while U.S. workers would need hundreds of dollars in additional income.
Isn’t that alarming?
The American Dream is out of the grasp of most people living in America, and there isn’t anywhere else on the globe where a majority of the workers are experiencing it either.
That same article also contained a few other facts that are truly sobering…
Continue reading at End Of The American Dream: The American Dream Is Dead, And Now Even The Mainstream Media Is Starting To Admit It
About the author:
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
Read his new book The Beginning of the End
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