The poverty rate in the U.S. rose by one percentage point in 2020 for the first time in five years, according to the U.S. Census Bureau.
Bloomberg reported that those in the U.S. are considered to be living in poverty if they live in a two-parent household with two children and a household income of less than $26,246 per year, which is a remarkably low bar.
The poverty rate in the U.S. rose to 11.4 percent. It is scary to imagine the percentage if the bar was set at $40,000 per year for those families.
David Johnson, a research professor at the Institute for Social Research and Ford School of Public Policy at the University of Michigan, told the news outlet that the old standard seems to be outdated and should not be used to “examine public policy.”
The Trends Journal has been reporting on the economic shift in the country during the COVID-19 outbreak that has seen the rich get richer and the poor get poorer. (See: “COVID WAR MAKES THE RICH RICHER,” “SLAVELANDIA: RICH GET RICHER, POOR GET POORER,” and “LOCKDOWNS LEAVE 22 MILLION JOBLESS IN RICH COUNTRIES,”)
There are 37.2 million Americans living in poverty in the U.S., which marks a 3.3 million jump since 2019. The report pointed out that married families had the lowest level of poverty at 4.7 percent.
Homes with single mothers are on the other end of the spectrum and account for 23.4 percent of household poverty. The report pointed out that every household income had seen a drop in the past year except for the top 5 percent.
As we have reported since governments imposed lockdowns on all non-essential businesses and permitted only the big box stores and other multinational “essentials” to do business when they launched the COVID War, the rich have gotten richer while the rest of the world has gotten poorer. (See “$4 TRILLION FOR BILLIONAIRES AS MIDDLE CLASS SHRINKS.”)
TREND FORECAST: As Gerald Celente has long said, “When people lose everything and have nothing left to lose, they lose it.” Therefore, as socioeconomic conditions continue to deteriorate, “NEW WORLD DISORDER,” one of our 2020 Top Trends, will escalate as billions take to the streets, demonstrating against the lack of basic living standards, crime, violence, and government corruption.
Also, the poorer and more desperate people become, the more they will do to flee their homeland, thus increasing the refugee and migrant crisis, which, in turn, will accelerate populist movements in nations not wanting foreigners to enter their country.