God help us all.

~NightSky

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It is that time of the year again. The Social Security Administration has finally released the final wage statistics for 2023, and they are quite sobering. According to the report, last year the “median wage” in this country was just $43,222.81. In other words, half of all American workers made less than $43,222.81, and half of all American workers made more than $43,222.81. That is terrible news, because the cost of living has been rising much faster than paycheck have. More people are being squeezed out of the middle class with each passing day, but most Americans don’t even realize that this is happening because the media isn’t really talking about it. Poverty, homelessness and hunger are all growing all around us, and if we stay on the path that we are on the middle class will continue to be systematically eviscerated.

Once upon a time, the vast majority of the country could afford to live a middle class lifestyle.

But now those days are long gone.

A study that was recently released found that it now takes more than $100,000 a year for a typical U.S. household to live “the American Dream” in all 50 states, and in 29 U.S. states it takes more than $150,000 a year…

A household would have to spend more than $150,000 a year to live the dream in 29 of the 50 states, according to an analysis published in April by the personal finance site GOBankingRates.

According to the report, the optimal American lifestyle would cost $137,842 a year in Ohio, $147,535 in Texas, $159,932 in Florida, $194,067 in New York and $245,723 in California.

The state that has the lowest cost of living is Mississippi.

Living the American Dream only costs $109,516 a year in that state.

Needless to say, someone earning $43,222.81 a year is not going to be able to live the American Dream anywhere in the nation.

Even if there are two people earning $43,222.81 a year in the same household, that still isn’t going to get you anywhere close to living the American Dream.

When I was growing up, my father worked and my mother stayed home with the kids, and we were still able to live a middle class lifestyle.

But now most households cannot afford to live a middle class lifestyle even if both parents are working.

After reading that, is there anyone out there that would like to disagree with me about the fact that we have been experiencing a long-term economic decline?

What I have been warning about all these years has been slowly but steadily playing out right in front of our eyes.

Not too long ago, a Wall Street Journal/NORC poll found that only about one-third of the entire U.S. population actually believes that the American Dream “is still alive”…

Only about a third of U.S. adults believe the American dream is still alive, a Wall Street Journal/NORC poll published Wednesday found.

A survey of 2,501 people conducted by the Public Religion Research Institute twelve years ago found more than half of respondents believed the American dream “still holds true,” but now only a third feel that way, according to a recent WSJ/NORC poll of 1,502 adults. The study also found an increasingly large gap between people’s economic goals and what they think is actually attainable — a trend that was consistent across gender and party lines, but was especially common amongst younger generations.

Nobody out there can deny what is happening.

This is our country now, and conditions are getting worse with each passing day.

One of the biggest reasons why the American Dream is out of reach for most of the population is because home prices have gone absolutely haywire over the last four years…

Twenty-four percent of likely voters who rent their homes said that “the cost of housing” is the most important economic issue they’re considering as they decide their vote, according to a CNN poll conducted by SSRS between September 19 and 22.

That’s no surprise: The US is facing a once-in-a-generation housing affordability crisis. In the four years through August 2024, national home prices have risen 45%, according to the S&P CoreLogic Case-Shiller Home Price Index. According to the National Association of Realtors, the median sales price of a home in the US hit a record high this summer and now hovers just below that level.

Renting used to be an affordable alternative for many people, but these days close to half of all renters in this country “spend more than 30% of their income on housing”…

Nor has renting become any easier than buying. Nearly half of US renters spend more than 30% of their income on housing, qualifying them as “cost-burdened,” according to US Census data from September.

In September 2024, the median rent in the U.S. was $2,050 a month.

How are you supposed to be able to afford that if you are making just $43,222.81 a year?

Increasingly, America is being divided into the “haves” and the “have nots”.

If you don’t know which group you belong to, let me clue you in. If you are not making more than $100,000 a year, you are definitely among the “have nots”.

Unfortunately, economic conditions are rapidly getting worse, and we are seeing high profile bankruptcies happen at a pace that we haven’t seen since the global financial crisis. For example, one of the largest crafting chains in the U.S. just filed for bankruptcy…

Joann — the craft store chain formerly known as Jo-Ann Fabrics — has filed for bankruptcy amid ongoing financial troubles.

But DIYers need not worry just yet: The company’s more than 800 stores nationwide will remain open and its website will stay active as the Hudson, Ohio-based company restructures its finances.

As hordes of businesses fail all over the nation, our historic commercial real estate crisis just continues to intensify.

If you doubt this, just check out these numbers…

The delinquency rate of office mortgages backing commercial mortgage-backed securities (CMBS) spiked to 9.4% in October, up a full percentage point from September, and the highest since the worst months of the meltdown that followed the Financial Crisis. The delinquency rate has doubled since June 2023 (4.5%), according to data by Trepp, which tracks and analyzes CMBS.

I don’t even have to tell many of you what those numbers mean.

We are headed for a historic meltdown, and it is going to absolutely devastate small to mid-size banks from coast to coast.

Meanwhile, most Americans are just barely scraping by from month to month as our standard of living steadily deteriorates.

We are in far more trouble than most people realize, and the months ahead are going to be extremely challenging.