You Going Broke is Not My Problem, But It’s Gonna Be!

Do most of you, who earn little to no more than you did twenty years ago, (especially when adjusted for inflation) not worry about our, not to mention your future?

The statistics are out there. You exist. And you are not alone. The chances are most of your neighbors are in exactly the same boat. But you seem, to the outside world, to be doing so well.

How is that possible?

How is it you can drive a beautiful SUV, yet struggle to pay your monthly bills?

How is it you have a beautiful and beautifully decorated home, yet avoid opening your credit card statement?

How is it you and your family seem to be living the American dream to the fullest, yet the idea of paying for your children’s college, allows you to skip going to the doctor for that very important, yet very expensive test?

Most of us are living in this manner. We have become a nation of debtors.

The intersection of low interest rates, cheaper international goods, and the desire of the American people to be, or at least look successful, have created a destination of disaster, because you are spending more but making less money.

Did you know, annual yearly wages for the top 1% of our population is $718K per year.

For the top 10% it drops to $136K.

But for the overwhelming rest of the population, the other 90%, those wages drop to a staggering $36K per year.

Out of that 36K, you need to pay for your home, you need to pay for your transportation, and you need to pay for your food.

Out of those expenses, whether renting or owning, whether a gas guzzler or rice burner, and whether blue apron or blue-plate specials, how much do you think is left over for the rest of life?

How much is left over for clothing your children? Or for tutoring them in math? Or for tuition?

How much is left over for paying for a triennial pap smear? Or that colonoscopy at age 50?

How much is left over for paying for those cancer treatments later?

Now look, this is about the time you expect me to blame Republicans for this mess. I’m not going to do that. I’m not going to blame Democrats either.

It’s not their fault. It is simply economics. And it’s not the first time our nation has been top heavy as far as wage distribution.

From about the Civil War to around 1937, an era of Rockefellers and Carnegies, the top 1% earned roughly 18% of all income. It was the age of the Robber Barons.

But for the next three decades that number would drop significantly. What happened I wonder?

World War, labor unions and New Deal policies.

But those days are over. And income disparity, at an even greater level, is back.

So what are we going to do? Do you know?

I don’t.

We are in such a political dystopia right now, I don’t know how we can ever figure a way out.

So since they aren’t going to solve it for you, it’s probably a good idea for you to start digging out yourself.

And as much as I hate to say this, listen to Dave Ramsey. Quit spending so much, pay off your credit cards and reduce your debt. Otherwise the next contraction in our very fragile economy, may be your last.