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Sub Middle-Class May 23, 2014

Posted by hslu in Economics, jobs, Retirement.
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According to a report by Country Financial, 25% of Americans are not saving for retirement at all.

http://mob.cnbc.com/us_news/101701441

Well, some of them are paying down their student loans. Some of them think retirement is too far away to worry about it now. Some might be paying off their credit card debts because they think life is too short to delay gratification now.

But, these weren’t the major problems at all. The most disturbing finding by the report is that 46% of these people who saved $0 for their retirement said ‘they cannot do so on a middle-class income.’

They have slipped away from the middle-class and into what I called the ‘Sub Middle-Class.’ They have become the slaves of the middle-class dream in the United States. They are slaves of their houses. They are slaves of their cars. They are slaves of their credit cards. They are slaves of their flat TVs and vacations. Everyone around them is doing the middle-class thing and they have to do it too.

Unfortunately the jobs that have been creating middle class dreams in the US are now in China, India, Thailand, Australia, Brazil and Russia.

Money has flowed to greener pastures in foreign countries and many Americans are left behind the middle class gravy train. Their tickets have been invalidated by the structural problems of the US economy.

Well, at least they are the top tier of the low income class. They have become the sub middle-class in the United States.

The standard of living in the US is slowly slipping away.

But don’t worry, America still has many billionaires. Raise their income tax rate to 75%. Tax their wealth and make them give their money to soup kitchens instead of Harvard Endowment Funds. Make everyone

Liberals use Obamacare to re-distribute wealth January 17, 2014

Posted by hslu in Congress, Health Insurance, Obama, Obamacare, Politics.
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I’ve called Obamacare Obamashame in my blog because it hides the real purpose of the Not Affordable Care Act when Obama, Pelosi, Reid and all Democrats in the Congress passed the law despite objection from the majority of the American people.

The real purpose is to re-distribute wealth from people who pay federal tax, the 53%, to almost all people who sign up for the government health care system.

Here is one way liberals take money out of our pockets to many under Obamacare:

If you sign up with Obamashame you are very likely to get a tax credit.

Yeah, you say that you knew that.

But I bet that you don’t even have a clue who qualify for the subside:

Any people who make $94,200 per year for a family of four will get money from other people’s pockets.

Hmm…, that seems a little generous, don’t you think? But since the liberals are spending OPM to buy votes, they might as well cover as many people as they can while they were at it.

But, why $94,200?

It is 400% of the poverty level and it will be indexed to inflation. As this figure is revised up when government reports new income data, more people under Obamacare will get something from the ones who pay federal tax.

I am going to predict that people who make less than $94,200 per year will want to keep OPM coming and the logic conclusion is that they will vote Democrats back to the Congress and the WH.

Here is to the American’s middle class:呜呼哀哉,尚飨!You are forever doomed!

Open you pockets, the liberals are coming!

 

The New vs Old: 7.4% Jobless Rate August 13, 2013

Posted by hslu in Congress, Economics, jobs, Obama, Obamacare.
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US July 2013 jobless rate is down to 7.4%.

Great! The number shows the job market is improving.

Right?

Wrong!

Well, the 7.4% jobless rate isn’t what it used to be.

Here are some facts and charts the liberal media will not tell you

  • Growth of New Jobs Declining

The trend is very clear!

7.5 million fewer people looking for jobs

  • People who are working in US: 155.80 million. But people who are NOT working: 89.96 million

Almost 90 million people not working in the US. Amazing!

Almost 90 million people not working in the US. Amazing!

More part time jobs created due to Obamacare

  • Obamacare cut $716 billion from Medicare – Slows down healthcare job growth
  • New jobs under Obama are low paying jobs
    • Retailers: 47,000 jobs
    • Restaurants: 38,000 jobs.
  • Obama’s policy is hollowing out America from the middle 

Check this out yourselves!

http://finance.yahoo.com/blogs/daily-ticker/become-nation-hamburger-flippers-dan-alpert-breaks-down-145831220.html;_ylt=Aq42wSPHCz9TAvjoTNo8z6ai

What Taiwan and the US have in common? April 27, 2013

Posted by hslu in China, Economics, Global Affair, Politics, Restaurants.
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Hollowing out in the middle! That’s what Taiwan and the US have in common!

It is sad but truth.

The only differences are:

1. Taiwan is in a much advanced stage in this path to destruction while the US is starting to pick up the pace.

2. China did most of this to Taiwan by draining capitals and brain power from Taiwan. Korea and Singapore also contributed to Taiwan’s downfall. 馬英九’s incompetence and gridlock in Taiwan’s government didn’t help either. In the wake of this giant sucking sound since the middle of 1990’s was the flourishing of service-oriented sectors in Taiwan: tourism, restaurants, hotels, taxi, massage parlors and night markets. The riches are richer from their operations pin China while the poor was making lower and lower wages because the service industries don’t pay a lot.

3. Global competition in many sectors has squeezed the American’s middle class out of once good paying jobs. The proof is clearly demonstrated by the 90 million people who are not working but who are not counted as unemployed by the Labor Department. These people have been out of jobs for so long that they are not actively seeking employment any more. They have simply given up looking. Well, that’s why the official unemployment rate in the US is now 7.6% instead of 14+% or so. The Main Street media hides this truth from the American people but the bleeding from the middle has been painfully real.

Just read the article by National Journal and you’ll see the sorry state of the United States.

http://www.nationaljournal.com/next-economy/solutions-bank/being-in-the-middle-class-means-worrying-about-falling-behind-20130425

With Bernanke printing money day and night, the United States is tracing Japanese’s path of lost decade(s) by piling up debt, perpetual anemic growth and ultimately a shrinking economy.

To save or to spend December 7, 2010

Posted by hslu in Congress, Economics, Obama, Politics.
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Assuming the tax cut deal struck between Obama and Republicans survive the objections from Democrats, what will you do with the extra money you are not sending to Uncle Sam?

Will you go out and spend them on something that will make you feel good? Or will you send it to the credit card company to pay down that debt you’ve accumulated over the holidays?

My bet is you will not spend it. Well, maybe a small portion to but juniors something.

Will it make a dent on the high unemployment rate?

No.

The extension of Bush tax cut will only prevent the economy sink even further. It wo’t bring too much of a relieve to the high unemployment figure.

Nonetheless, Obama will claim credit in January 2012 even if the economy stays in the shit hole at that time.

He’ll say that he cares about America’s middle class. He cares about the economy. He didn’t give it a damn to Democrats because they are damaged goods after the mid-term election.

Obama cares more about his re-election more than the future of the Democrat party even though he helped bring the party down to it’s knees.

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