Thursday, March 3, 2022

"35 Signs That Prove That The Working Class Is Being Systematically Wiped Out"

Full screen recommended.
"35 Signs That Prove That The Working
 Class Is Being Systematically Wiped Out"
by Epic Economist

"The American working class is shriveling up and dying right before our eyes. Without an abundance of good jobs, more and more people are simply exiting the labor force and living off federal assistance programs, a phenomenon experts say is likely to cause a ‘long-term structural problem’ in the U.S. economy.

Millions of Americans are out of work, but official unemployment numbers only show a fraction of what is really going on. The way unemployment data was calculated has changed several times over the past few years, and the figures released by government agencies tend to sugarcoat the reality for entirely political reasons. Last month, hundreds of thousands of people have “dropped out of the labor force”, but labor statistics from January actually suggest that the shortage of workers is actually easing.

Needless to say, that’s far from the truth. In fact, recent surveys have exposed that a staggering number of workers are planning to leave the U.S. workforce in 2022. Recent stats also show that there simply are not enough ‘good jobs’ to go around anymore, and the vast majority of the population is working in low-wage positions. However, working-class Americans seem to be waking up to the fact that the main asset they have to offer in the marketplace is their labor, and their decision to quit their posts to seek better compensation is forcing companies to raise wages.

Over the past few decades, U.S. companies have largely outsourced their production to Asian countries so that they could profit from cheaper labor costs. Millions of factory jobs have been lost in that process as domestic production declined -- and these positions aren’t coming back. But recent events have exposed just how vulnerable supply chains are, and with problems compounding by the day, businesses are having to come up with new strategies to attract American workers back to the labor force.

Unfortunately, up until this point, wage gains haven’t been very impressive and with inflation running at the hottest rate in 40 years, workers are actually losing money as their buying power falls to the lowest level recorded since the 1980s.

At the same time, homelessness and poverty are exploding in every corner of the country as many families that used to have stable lives continue to struggle to make ends meet and are losing their homes due to soaring housing and rental prices. It’s safe to say that the disruptions the industry has faced so far are just beginning. Things are about to get a whole lot worse, and with global tensions escalating and companies shutting down thousands of factories, the labor market is going to get tighter and tighter.

Today, wealth is more centralized than ever before. Most of the wealth being produced by our economy goes to a very small group of people at the very top of the food chain. And while the rich get richer, the working class continues to suffer from debt, surging prices for food, energy, gas, and housing, and low-paid jobs that do not allow them to keep up with the soaring cost of living.

With both the middle and the working class shrinking at an alarming rate, the inequality gap is growing wider in the U.S., leaving most part of the population at the brink of financial ruin. But for the first time in our modern era, companies that have been profiting from overseas labor over the past decades are now realizing that they’ve taken American workers for granted and that worsening conditions in the labor market are leading to significantly lower profits as consumer spending slows down.

America is seemingly headed towards a very dark future, and since the very foundation of our economy is cracking and crumbling, the collapse is going to be much more brutal than most people dare to imagine. For that reason, today we gathered 35 facts that prove that the U.S. working class is being systematically wiped out."

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