Middle class is evaporating.

Everyone knows the middle class is being squeezed.  It's been all over the news for years, but what does it really mean?  It means that the middle class, the people that work hard to provide a decent way of living for themselves and their families, are going in the opposite direction from the way it historically has gone due to the depreciation in the value of their incomes.  The middle class does not make enough to overcome the rising living costs which just causes a slow decline into the “working poor” pool.

Remember the times when a head of a single income household, working an average full time job ,could afford to buy a house, have health insurance, go on vacations, pay for kids college, and still save for retirement?  What happened?  I think it can be traced to the easier access to more and more credit so that the “middle class” could live farther and farther beyond their means, resulting in too much inflation and more of their paychecks going into paying interest to the wealthy that were giving out these loans.  Essentially, a slow decline in real expendable income of the average working American and at the same time a massive transfer of assets from the middle class to the wealthy.  People need to start living off their earnings instead of off credit.  It looks like with the current economy their not really going to have much choice about it.

The gap between average folk and super wealthy is at an all time high in America, and it will continue to grow if allowed.  And this can't be at all good for America.  Of course not, how can it?