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The Only Thing Keeping our Nation Alive.. Have you Moved back into your Parents House Yet?
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You heard about the wiping out of the middle class, Its a frightening fact, ever since the shutting down of American manufacturing plants and the stock market crash of October 2008. Many businesses have folded and 90 percent of all start ups will fail.
The only way many others are staying alive is in their parents home. I know a poor family, dead broke that had to move into their Fathers beautiful 400,000 dollar home. Its got the luxury kitchen and luxury deck and bathrooms.
I know another family too of a retired doctor that had to take in his children and grandkids into his 1 million dollar home, hes a doctor.
Even if your parents house is valued at only 50-100,000, and the quarters are cramped, the chances of the adult children moving in are high.
Multi generations under one roof is now the norm, not by choice, but by sheer economic survival.
Its only the Elderly who are keeping our nation alive !
They are the only ones that have their house paid for. Even if they are the old houses from the 40's 50's, 60's and 70s, Its all paid for and they are taking in their adult children .
You dont hear fuss and riots yet cause all the broke people found a older relative to live with. You see people still staying afloat, having nice things, cause its only cause of the hard work of their parents before the Big Corps shipped off all the jobs to China, India and Mexico.
The younger boomers and generation x and y still have parents to fall back on. Its the younger generation thats screwed,
Heres shocking statistics from the year 2000
Quote:
The United States has lost an average of 50,000 manufacturing jobs per month since China joined the World Trade Organization in 2001.
*Between December 2000 and December 2010, 38 percent of the manufacturing jobs in Ohio were lost, 42 percent of the manufacturing jobs in North Carolina were lost and 48 percent of the manufacturing jobs in Michigan were lost.
*According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years. During 2010 it got even worse. Last year, an average of 23 manufacturing facilities a day shut down in the United States.
*In all, more than 56,000 manufacturing facilities in the United States have shut down since 2001.
End Qoute
[link to theeconomiccollapseblog.com]
And how about the kids who dont want to be blue collar workers? Harsh fact, More and more University and college students are now so deeply in debt, they have no hope of buying a house.
Student debts of 100,000- 150,000 dollars are now the norm. You hear of all the college graduates having to take waitressing or waiter jobs (pink collar workers) to try and pay off their loan cause they cant find a job that caters to their degree.
I feel sorry for anyone 25 and under, They are the ones with no hope.
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