Middle Class Holding Cash?

[Birchtree]

EWGuy.

When you are magnanimous you have to look for the Karma. When you are a grandfather you won't have far to travel. Because you are going to do well in your TSP account, you'll be able to peel off profits for many to come special occassions.

The global village will provide potential to everyone - the kids could each make $60,000 working fast food in the Katrina war zone. It's all in the sacrifice.

And don't be overly concerned about the less fortunate, with food stamps they do get the steaks, price is no deterrent.

And besides, the military branches are paying a fair wage - pluse shelter, it's all in the sacrifice.

 

[Fivetears]

This is Not News.

17 February 2006 WASHINGTON (Reuters) — Rising prices for electricity, food and autos pushed wholesale prices up 0.3% in January while prices other than food and energy climbed 0.4% — twice market expectations and the fastest wholesale inflation in a year, a government report showed today.
This is no news to folks like us. The middle class has been getting gouged; for nearly a year. These figures actually seem very low. My Health & Auto insurance, gasoline and food bills went up a hell of a lot more than the above stated percentages. John Whitecollar & Jimbo Numbercruncher need to back away their SIMS games. These are living & breathing families they are dealing with.

 

[Fivetears]

Don't drop your wallet.

U.S. consumer prices surged 0.7 percent last month. Retailers are passing higher prices to consumers to boost profit margins. Over the past year, consumer prices have climbed 4.0 percent, the largest 12-month increase since October 2005 and an acceleration from December's 3.4 percent increase. The rise in consumer prices since January 2005 is well above the 3.6 percent increase in average weekly earnings in the same period. Consumer budgets are not keeping pace with rising prices.

The rise in overall consumer prices in January was driven by a 5.0 percent increase in energy costs. Gasoline prices rose 6.4 percent, electricity prices advanced a record 5.5 percent and natural gas prices were up 1.7 percent last month. That was only slightly offset by a 1.9 percent decline in the cost of fuel oil. These higher energy prices are being passed on to consumers as well.

Holding on to your cash yet? Big Business is trying real hard to get it from us; one way or another.

 

[Fivetears]

Middle Class Incomes Dropped 2.3% 2001-2004

23 February 2006, Associated Press
WASHINGTON — The average (or otherwise refered to as Middle Class) income of American families, after adjusting for inflation, declined 2.3% in 2004 compared with 2001 while their net worth rose but at a slower pace.

The Fed survey found the share of Americans' financial assets invested in stocks fell to 17.6% in 2004, from 21.7% in 2001.

The percentage of Americans who owned stocks, either directly or through a mutual fund, fell 3.3 percentage points to 48.6% in 2004, down from 51.9% in 2001.

Stock ownership rates were highest in 2004 among families with higher incomes and families age 55 to 64.

With the first baby boomers turning 60 this year and nearing retirement, the survey found the percentage of families with some type of tax-deferred retirement account, such as a 401k, fell 2.5 percentage points to 49.7% of all families. Those who had retirement accounts saw their holdings increase.

The Fed survey found that debt as a percent of total assets rose to 15% in 2004, from 12.1% in 2001. Mortgages to finance home purchases were by far the biggest share of total debt at 75.2% in 2004, unchanged from 2001.

Feeling a pinch yet? Keep in mind, this information does come from Washington, and it's likely watered down a bit to dilute larger numbers, and appease the rich, who are in denial of all this.

 

[Fivetears]

Waiting for the holiday, are we?

NEW YORK (Reuters) - Harsh winter weather chilled U.S. retail sales in February, and industry leaders said March results would be hurt by a later Easter holiday. Wal-Mart, the world's largest retailer, and rival Target were among those warning that sales could be weak this month as consumers delay their spring buying, waiting for the holiday. Easter, which fell in March last year, is on April 16 this year. "The Easter effect is a reality," said Pacific Growth Equities' Chen. "If you go on vacation later, you postpone your shopping."

I tell ya, if the financial naysayer’s can't blame Americans for not showering retailers with cash on the weather... they'll blame it on all the wrong reasons for celebrating Easter.