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This isn't about politics but about the fact that America may well as the article suggest have two economic realities very different from each other. Our lives in that reality can create a very different retirement mentality, life style and mind set about it all.
And buried in the Census Bureau’s new report on income, poverty and health insurance, released Tuesday, are two piece of further bad news for rural America—trends that could keep shaping politics well after November’s election.
For Americans living in metropolitan areas, inflation-adjusted household income rose by 6 percent from 2014 to 2015—a robust bounce back from the recession. But for those living outside those areas*—totaling more than 40 million Americans—household income actually fell by 2 percent. The numbers on poverty reveal a similar trend. The number of people in poverty in rural areas did fall by 800,000, but that doesn’t appear to be because people are escaping poverty: Instead, people are simply leaving. The rural population, in that span of time, declined by five million people. Taken in total, the rural poverty rate actually rose slightly, by 0.2 percentage points. In the rest of country, the poverty rate declined by 1.4 percentage points.
For most of the country, 2015 was a great economic year, according to the new Census figures. Inflation-adjusted median household income rose by 5.2 percent, the official poverty rate fell by 1.2 percentage points and the percentage of people without health insurance fell to 9.1 percent. Income gains were strong across the entire income distribution, with the household income of the bottom 10 percent growing 7.9 percent.
Perhaps in one area a retirement income of 50k is satisfying and in another area couples need a lot more to feel comfortable and meet THEIR expectations.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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It's no secret the USA is full speed ahead to a 2 class society, as is much of the undeveloped world, and many nations with very corrupt governments.
Many of the rural retirees we help live on far less than $30k/ yr, and we are in a relatively expensive locale. It seems amazing to me that they have beeh retired on so little since the 1970's. They are very happy and well adjusted; & active in the community.
StealthRabbit has it right. Countries from the US to Mexico, to China and India are experiencing the same thing.
The technology world does not lift up those at the bottom. Those who work with their hands need the blue collar manufacturing jobs to support a family. The global economy is shipping those jobs to the cheapest labor countries and they continue to move them around. I think it is safe to say that these jobs wont come back without a virtual wall around out country to prevent foreign made goods from coming in. Many ordinary Americans don't understand what this would mean to their goods and prices. Think rationing and super high inflation. Think pain beyond imagining.
I think thrift, frugality, saving, making do, using up, mending, etc. are going to be the catchwords we hear more and more. Or should be.
It's no secret the USA is full speed ahead to a 2 class society, as is much of the undeveloped world, and many nations with very corrupt governments.
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Or just anywhere that doesn't have a huge system to fakely equalize everyone.
Bc frankly, left to human nature, natural differences in abilities/ambition, etc, there is ALWAYS a dichotomy.
Hmmm. Regardless of the percentage, 40 million people is a lot of people to let fall through a crack, and IMHO are a harbinger of where things are headed thanks to the government and industries removing manufacturing from the US. Should I Be spun up about that small crack that's been growing in that very large dam?
I am surprised the numbers were that strong for 2015. It didnt feel like that good of a year. Though I am confused on the part that said Trumps supporters have high income, but come from depressed areas.
SR is right, there very much is a shrinking of the middle class, but its not just based on income and education. In some cases the difference is wisdom or foolishness. Probably a majority of the poor are poor because they were lazy, wasteful, drug or alcohol abusers, or criminals. Lots of middle class people have done well,not because of white privilege or any such thing, but they stuck with a conservative lifestyle, little drinking and smoking, saved and invested, lived under their means, paid off their house, stayed married, worked hard in their career.
Now doubt about it, rural America is .... depending on your point of view .... changing rapidly or dying. Agriculture and ranching have become big businesses with lots of mechanized equipment and fewer workers. The large increases in minimum wage and the prospect of limiting illegal alien workers will provide a further push to eliminate jobs. The small rural towns used to be retail centers. That too is changing rapidly as the whole nature of retailing changes and brick and mortar stores vanish. At one time there were lots of small, local banks and insurance companies and other service companies which are also vanishing. Our shrinking world and internet buying will finish off many of them. So what is left? Healthcare? Not really, the local family doc is something of the past. Now we live in the world of specialists and scans and major medical centers.
The vast majority of the new jobs are urban. They involve college level or high levels of trade skills, and working in groups for large, efficient businesses. More than ever, education is the key to getting a decent job and establishing a career. For a great many professions, unemployment has been at 3% or less for many years. The jobs are there but only for those with the right skills. Without education, it is becoming harder than ever to move off the farm or out of the ghetto and get a good job. Those with obsolete or no skills find life getting harder and harder.
Trump wants to roll the clock back and somehow restore the past. Clinton is sympathetic and has a do gooders approach. Sanders at least recognized the need to improve access to college, but then thought passing out money would fix everyone's issues. Unfortunately, the trends are beyond politics. The trends are not going to reverse. We are not going back to a world with great middle class jobs for those without education or skills. Having compassion, increasing the minimum wage and passing out benefits are not going to reverse the trends.
At least when it comes to retirement, we have choices. With some money, we can live in or near the cities, with their cultural and educational opportunities or we can choose the quieter life of the country.
We certainly need some kind of UBI in the near future. Humans are not robots, everyone has different skills and abilities. We're trying to force college (particularly STEM) on everyone when not all are capable of it. There needs to be jobs that fit different skill levels and abilities. I think less than 30% of America has a bachelors degree. And even many in that 30% struggle to find living wage employment already.
Last edited by s1alker; 09-20-2016 at 06:30 AM..
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