The Middle Class is Beholden to the Financial Elite

What Does It Mean to be Middle Class in 2010? Beholden to the Banking Elite

April 6, 2010

My Budget 360 - Being middle class today does not carry the financial security that it once carried in the 1950s and 1960s. Interestingly enough, many Americans at that time did not own stocks yet somehow they managed well because they had access to affordable housing without toxic mortgages and many had the ability to work with one company and have some kind of security from their company. It was a mutual relationship as even Henry Ford shook the auto manufacturing world by upping wages for his workers.

Yet today, we are being fed distorted information from Wall Street that we need to have this system where workers are disposable entities only to increase the profits of the corporate class.

If people are hurting so much why are we paying billions in bonuses to a small group of people that really haven’t helped the country? In fact, many of these are directly responsible for our current economic problems. At the root, this has been the cancer that has eaten away at what it means to be middle class. Social government welfare for Wall Street and Darwinian capitalism for the rest of us.

The middle class has it extremely tough today not because of random events but purposeful and directed robbery from Wall Street. This was a methodical and planned dismantling of the system. First, let us walk through some details of the middle class to create a profile ...