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Death Of The Middle Class
The cost of living has become absolutely suffocating for millions of Americans. For years, the bureaucrats in Washington have been feeding us numbers that show that the rate of inflation is low, but it is obvious to everyone that what they are telling us is simply not true.
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Older Americans have no idea how different life has become for younger generations. The real cost of living is much higher than the artificial Consumer Price Index typically quoted for mainstream media as “inflation.”
How are ordinary families, especially those raising children, still making ends meet? The uncomfortable reality is that many aren't. They're maintaining the appearance of financial stability by relying on credit cards, extending car loans to six or seven years, splitting everyday purchases into installments, and quietly falling behind on financing everything in their lives.
The real inflation and financial trends paint a very different picture from the optimistic headlines promote on Fox and cable news. Childcare for two children now averages around $28,000 per year, while the average new car payment has climbed to roughly $770 per month. These two expenses can exceed $37,000 annually—before accounting for housing, groceries, healthcare, insurance, utilities, taxes, or any other essential costs. Most younger families will be forever renters in the “You'll own nothing, and be happy.” world order.
The more fixed expenses consume a growing share of household budgets, more families are turning to debt to bridge the gap. Credit card delinquencies have risen close to levels seen during the Great Financial Crisis, and serious auto loan delinquencies have reached multi-decade highs among subprime borrowers. At the same time, Buy Now, Pay Later services have evolved from a convenient checkout option into a significant source of consumer credit.
All these trends suggest that millions of working families are no longer funding their lives primarily from current income. Instead, they are financing essential expenses, which includes childcare, transportation, and everyday consumption with increasingly fragile layers of debt, as politicians pass the Patriot, Inflation Reduction, Genius, and Save America Act that offer like to help the middle class. The more federal debt expands, the more fragile the system becomes, and the higher inflation rises.
While the economy may still appear resilient, it is beginning to show significant cracks beneath the surface. A growing number of households are no longer building financial security or even maintaining it. They are simply delaying the moment when the math can no longer be ignored.
When the math goes, there will be sovereign debt default that will take down the wealth of the older generations that believe they're smarter and immune to the economic chaos. That is when the 2×4 of knowledge comes for them.
We talk about this and a lot more in our numerous
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