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I drink your milkshake! a metaphor for capitalism
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<blockquote data-quote="rickyb" data-source="post: 2157702" data-attributes="member: 56035"><p><a href="http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/?utm_source=nl__linkcoverstory1_041916" target="_blank">http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/?utm_source=nl__linkcoverstory1_041916</a></p><p></p><p> "The Fed asked respondents how they would pay for a $400 emergency. The answer: <strong><em>47 percent</em> of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all.</strong> <em>Four hundred dollars!</em> Who knew?"</p><p></p><p>"Median net worth has declined steeply in the past generation—down 85.3 percent from 1983 to 2013 for the bottom income quintile, down 63.5 percent for the second-lowest quintile, and down 25.8 percent for the third, or middle, quintile. According to research funded by the Russell Sage Foundation, the inflation-adjusted net worth of the typical household, one at the median point of wealth distribution, was $87,992 in 2003. By 2013, it had declined to $54,500, a 38 percent drop. And though the bursting of the housing bubble in 2008 certainly contributed to the drop, the decline for the lower quintiles began long before the recession—as early as the mid-1980s, Wolff says."</p><p></p><p>"“Families have been using their savings to finance their consumption,” Wolff notes. In his assessment, the typical American family is in “desperate straits.”</p><p></p><p>capitalism is making it easy to hate on it. no wonder more democrats prefer socialism over capitalism, even if they dont know what socialism is.</p></blockquote><p></p>
[QUOTE="rickyb, post: 2157702, member: 56035"] [URL]http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/?utm_source=nl__linkcoverstory1_041916[/URL] "The Fed asked respondents how they would pay for a $400 emergency. The answer: [B][I]47 percent[/I] of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all.[/B] [I]Four hundred dollars![/I] Who knew?" "Median net worth has declined steeply in the past generation—down 85.3 percent from 1983 to 2013 for the bottom income quintile, down 63.5 percent for the second-lowest quintile, and down 25.8 percent for the third, or middle, quintile. According to research funded by the Russell Sage Foundation, the inflation-adjusted net worth of the typical household, one at the median point of wealth distribution, was $87,992 in 2003. By 2013, it had declined to $54,500, a 38 percent drop. And though the bursting of the housing bubble in 2008 certainly contributed to the drop, the decline for the lower quintiles began long before the recession—as early as the mid-1980s, Wolff says." "“Families have been using their savings to finance their consumption,” Wolff notes. In his assessment, the typical American family is in “desperate straits.” capitalism is making it easy to hate on it. no wonder more democrats prefer socialism over capitalism, even if they dont know what socialism is. [/QUOTE]
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