The hollowing out of the American middle class

Private Equity firms:

Buy up properties in blocks and cause cost of living to go up

Foreign tycoons:

Buy up your local utility company and increase electricity, gas prices

Foreign Sheikhs/Princes with control over natural resources:

Cause wars and cause prices of commodities to go up

Billionaires like Gates:

Buy up land tracts by millions

Big Banks:

Sell you bogus products that aren't inflation indexed

Employers:

Don't increase salaries as per wages

Question: 

What's your game plan when the shits hitting the fan ? 

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Comments (35)

May 19, 2022 - 8:07pm
financeabc, what's your opinion? Comment below:

Stop shitting on the US and get the fuck out of here.  

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May 19, 2022 - 8:21pm
papertiger, what's your opinion? Comment below:
financeabc

Stop shitting on the US and get the fuck out of here.  

So stating pertinent and relevant facts is shitting on the US.

Wow what a crybaby lol. 

May 20, 2022 - 1:34pm
financeabc, what's your opinion? Comment below:
papertiger
financeabc

Stop shitting on the US and get the fuck out of here.  

So stating pertinent and relevant facts is shitting on the US.

Wow what a crybaby lol. 

You have been shitting on the US in other topics/ comments as well.  You have stated that your sole purpose in being in the US is to milk the US for money and have no interest in being part of it for any for any other reason, including getting to know Americans.  If you are going to be a user of the US, you should at least be respectful about it. 

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May 20, 2022 - 10:51am
GoingToBeAnMD, what's your opinion? Comment below:

You pose a good question at the end. I think for most of us here the answer would be "savings" - I'm guessing the average WSO reader has more savings than the average American.

But with that comes the scary realization that most Americans don't have any savings, they don't have an alternate plan. When even the slightest hiccup in the economy happens, things get "dark" really really quickly for most people out there. Sure, some people will say that it's self-inflicted (most Americans pay a $200+ cable bill, etc) but that has the potential to make the country spiral out of control (on many levels) very, very quickly. 

*
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May 20, 2022 - 11:19am
K-Peezy, what's your opinion? Comment below:
MonkeyNoise

Oh look OP must be 20 years old 

I definitely look at this through the adage of "I was left leaning when I was younger, but then I grew up and became conservative"

Funniest
May 20, 2022 - 11:29am
UCSDThrowaway, what's your opinion? Comment below:

I'm voting republican until I no longer have a job, then buying guns and ammo, then voting Bernie sanders. But buying guns and ammo first before voting for Bernie 

Controversial
May 20, 2022 - 1:12pm
BobTheBaker, what's your opinion? Comment below:

Reaganism got us here. I know we'd been headed in this direction since the mid-60s but the naked embrace of corporatism didn't really occur until Reaganism, which accelerated the trend. Greenspan and Reagan are villians lauded as American heroes and it's an embarrassment. This anti-capitalist bullshit started with them and it's devolved ever since. If we are going to recover we need a return to strong labor unions, an increase in the capital gains tax, end ridiculous corporate subsidies, a total reevaluation of corporate taxation, and enforcement of anti-trust laws. Oh, and we need to get corporate money out of politics.

Of course this shit won't happen because the politicians are in the pocket of the corporations.

Array

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May 20, 2022 - 2:33pm
papertiger, what's your opinion? Comment below:
BobTheBaker

Reaganism got us here. I know we'd been headed in this direction since the mid-60s but the naked embrace of corporatism didn't really occur until Reaganism, which accelerated the trend. Greenspan and Reagan are villians lauded as American heroes and it's an embarrassment. This anti-capitalist bullshit started with them and it's devolved ever since. If we are going to recover we need a return to strong labor unions, an increase in the capital gains tax, end ridiculous corporate subsidies, a total reevaluation of corporate taxation, and enforcement of anti-trust laws. Oh, and we need to get corporate money out of politics.

Of course this shit won't happen because the politicians are in the pocket of the corporations.

thanks for your insight. very interesting observation.

May 21, 2022 - 10:24am
K-Peezy, what's your opinion? Comment below:

BobTheBaker

Reaganism got us here. I know we'd been headed in this direction since the mid-60s but the naked embrace of corporatism didn't really occur until Reaganism, which accelerated the trend. Greenspan and Reagan are villians lauded as American heroes and it's an embarrassment. This anti-capitalist bullshit started with them and it's devolved ever since. If we are going to recover we need a return to strong labor unions, an increase in the capital gains tax, end ridiculous corporate subsidies, a total reevaluation of corporate taxation, and enforcement of anti-trust laws. Oh, and we need to get corporate money out of politics.

Of course this shit won't happen because the politicians are in the pocket of the corporations.

I would agree to the rest except the unions piece. Specifically because the unions have morphed into the same rent-seeking parasitic villains they were purported to be created to fight and instead themselves play their part in the charade with the other bad actors you rightly named.

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May 20, 2022 - 1:12pm
Lancer, what's your opinion? Comment below:

Is the "Foreign Tycoon buying local utility" thing actually widespread? My local utility is part of a US listed company, and rates are pretty heavily related. 

May 20, 2022 - 2:01pm
papertiger, what's your opinion? Comment below:
Lancer

Is the "Foreign Tycoon buying local utility" thing actually widespread? My local utility is part of a US listed company, and rates are pretty heavily related. 

Happened in the UK and Australia. The local grid is actually owned by some Mongloid named Li Ka Shing in Hong Kong. 

Most Helpful
May 20, 2022 - 8:59pm
Hölder, what's your opinion? Comment below:

My brother in Christ, shit IS hitting the fan as we speak. I'll tell you what I did about it:

Back in late 2020 (shortly after the stock market miraculously recovered from its initial COVID dump) I liquidated all of my stock holdings. With half of the world shut down, I considered it a miracle that the stock market had recovered enough for me to sell with an actual profit instead of a loss. Then in 2021 I saw how my boys Joey B and JPow started printing printers that printed money with no sign of stopping. The stock market went up like crazy and I was there holding a bunch of fiat and some crypto like some kind of retard. Still, I waited patiently. I was NOT going to buy these fake prices J&J were dishing out so I decided I would wait until the right opportunity came. 

Then came mid-2021. I started re-evaluating my assumptions about the market. I remembered after graduating (think 2018-2019) thinking that you should not buy a house in your early 20s because that was the period of your life in which your income accelerated the fastest. You could buy a house in one year, only for your income to have gone up like 50% the next year which would mean that you could buy an ever bigger house but now you were stuck with a huge liability. Of course, in theory you can sell your old house and then use the $ to pay for the new one but I wasn't about to become the fool that paid in transaction costs for the salaries of real state retards. While I was thinking, of course the wonder couple J&J were still printing money like their life depended on it and then it hit me. There was no fucking way that these retards knew what they were doing. We were at all time highs with 90% of the world economy still recovering from a pandemic. This meant that soon the stock market was gonna crash but even more importantly, the dollar was going to crash even harder than stocks. And here I was holding over 90% of my net worth in a savings account. I decided to break my rule and just buy a fucking house. I went back down to like 20% of my net worth in cash and now I can save on living expenses (i.e. no need to pay rent or any of the sort). The funniest part is that a month after I closed the deal, JPow stopped being a fucking pussy and admitted that inflation was not transitory and everyone was about to get their ass fucked by the invisible cock of the market. 

So here I am now. Thanks to the FED being run by literal retards I now own a house. And as I knew it would happen, now my income has gone up by over 50%. But well, now interest rates are also up the ass so it doesn't make too much of a difference. I'm glad I could get out of both stocks and dollars before it was too late. One of these days I'll start consulting for tiger cubs to teach them how to manage money because fuck are they retarded too. 

May 20, 2022 - 10:40pm
UFOinsider, what's your opinion? Comment below:

If things continue on the current trajectory, it's going to be in a lot of people's interest to move to Europe.  And even if it doesn't....NO ONE actually wants to retire to America and there's a reason for that.

Get busy living
May 21, 2022 - 9:10am
financeabc, what's your opinion? Comment below:

UFOinsider

INO ONE actually wants to retire to America and there's a reason for that.

There is not true.  Most people who live US, think America is the center of the Universe and would not have any interest in retiring outside the US (unless they have roots in another country).  WSO is kind of an international place but views here are not representative of the vast majority of the US population. 

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May 21, 2022 - 4:00pm
UFOinsider, what's your opinion? Comment below:

financeabc

UFOinsider

INO ONE actually wants to retire to America and there's a reason for that.

There is not true.  Most people who live US, think America is the center of the Universe and would not have any interest in retiring outside the US (unless they have roots in another country).  WSO is kind of an international place but views here are not representative of the vast majority of the US population. 

You're free to tell yourself anything you want but as soon as people have some money they GFTO.  Ask anyone where their dream vacation is…double or nothing it's NOT here.  Who are you even trying to kid 🤪

I'll give you this much though: people with roots elsewhere….they figure this out a lot faster

Get busy living
May 21, 2022 - 4:43pm
UFOinsider, what's your opinion? Comment below:
MonkeyNoise

Well this is a pretty dumb post on several levels

Yes, it is.  Next time use your brain before speaking 🎃

Get busy living
May 21, 2022 - 12:34pm
IncomingIBDreject, what's your opinion? Comment below:

BobTheBaker response is the best one here.

Unfortunately this is being orchestrated by the political and business elites, and there's very little any of us can directly do. The best you can do is to make yourself marketable and valuable so those elite people will at least increase your salary YoY to match inflation (front office finance, SWE, etc.). For the rest of society it's going to get more and more difficult. I do not know what the end game is but it does not look good.

Array

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May 21, 2022 - 4:41pm
UFOinsider, what's your opinion? Comment below:

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Get busy living
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