Middle Class Erosion: 33 Million Americans Won't Travel During The Holidays Because They Can't Afford To

Zero Hedge | 10/10/2018 | Staff
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We have repeatedly been told that the U.S. economy is “booming”, but meanwhile the middle class in the United States continues to be hollowed out.

The financial bubbles that the Federal Reserve has created have been a great blessing for those at the very top of the economic pyramid, but most of the country is still deeply struggling. According to one survey, 78 percent of all full-time workers in the U.S. live paycheck to paycheck, and that doesn’t even include part-time workers or those that are unemployed.

Unemployment - Numbers - Age - Americans - Job

We have also been told that unemployment is “low”, but the real numbers tell us that there are more working age Americans without a job in 2018 than there was at any point during the last recession. Most of the people that my wife and I know are struggling, and I continually get emails from readers all over the country that are struggling. The sad truth is that the middle class is slowly but surely dying, and more people are falling into poverty with each passing day.

Wallet Hub’s Winter Travel Survey has revealed a disturbing trend: 33 million Americans won’t travel this winter because they can’t afford it.

Americans - Pinch - Pocketbook—part - Interest - Rates

However, Americans are still feeling the pinch of the pocketbook—part of that has to do with rising interest rates.

“U.S. consumers will be shelling out billions of dollars in extra charges they otherwise could be spending on other things such as travel,” said Mark A. Bonn, director of the resort and vacation rental management program at Florida State University. “This makes it difficult to travel now, let alone after the holiday spending has ended.”

Course - Truth - Americans - Interest - Rates

But of course the truth is that most Americans were deeply struggling long before interest rates started to rise.

Those of us in our prime working years can try to work even harder to make...
(Excerpt) Read more at: Zero Hedge
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