The Widening Gap

Today, I read an article regarding on the U.S. Middle-Class Gloom from The Straits Times newspaper. Currently, mid-class American suffer 3 major nightmares; declining house value, increasing food and energy price and growing unemployment.

The declining house value has cause a person total assets value to shrink. The resell and rental price decline as the results from that. The poor and the lower mid-class receive the most severe pain from increasing food and energy price. They either have to tighten their stomach or save less in order to sustain. The weakening of U.S. economy cause high unemployment in America. A lots of factories and firms are force to close down. Blooming of Asia country and shifting of location out of U.S. territory due to cheaper labor cost has hasten the unemployment rate there. These impacts hit the hardest towards the lower class of the society as the rich try to keep their wealth secure.

Some rich are getting richer for example Warren Buffet become the richest person in the world by overtaking Bill Gates during current depression state. While other rich are not getting richer but they are not turning to poorer as well. However, this scenario is not seen in the lower upper, middle class and the poor. The lower upper has drop to middle class, the middle class drop lower and subsequently. As the result, the financial gap between the society is broadening. This is not healthy at all.

In future, history might repeat again if no action is taken. It will form a modern feudalism - the poor work for the rich (the farmers work for the lord). No more middle class. The status might really become become very clear among the employees and employer. Then, reformation of new concept and society happened again due to rebellion of the workers. Though it might be still far away from as it is still vague.

Since no one is taking action to avoid and to overcome this issue, the only thing we can do is try not to be poor. Try to find a new way to break through unless in 10-20 years time you want to suffer what as U.S. citizen is suffering now.