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At the end of December, 61 percent of Americans were living paycheck to paycheck, a LendingClub survey found, slightly less than the high of 65 percent reported in 2020.
We reported the financial straits of so many U.S. households in “Paycheck to Paycheck: The American Way” (29 Jun 2021).
Although workers’ pay rose 4.7 percent nationally last year, prices ballooned 7 percent through the year, eroding household purchasing power by 1.7 percent, according to the U.S. labor department.
Among households earning six figures, 42 percent are living hand to mouth, according to the poll.
Wages are expected to grow 3.4 percent on average this year, CNBC reported, but Americans need an annual income of $128,000 to feel financially secure, as we highlighted in “Middle Class? Forget About It. Americans Need $128,000 a Year to Feel Secure” (18 Jan 2022).
That figure is almost twice the 2020 U.S. median household income of $67,521, the most recent figure the census bureau has compiled.
TREND FORECAST: As we have detailed to great extent, in the New World Order, the rich get richer and the middle Class keeps shrinking. As a result of these vast “Off with their heads” inequities, we forecast growing anti-establishment political movements in countries that are called “Democracies” but are in function, fascist states. Indeed, according to Benito Mussolini, fascism is the merger of state and corporate powers… and as the evidence clearly illustrates, they have “merged.”
These are just a few of our articles that state the facts: