The decimation of the middle class as we knew it two decades ago:
The middle class lost half of their wealth with the bursting of the housing bubble according to the Federal Reserve’s comprehensive Flow of Funds report. Nationwide, the housing value lost an average of 30%. Some areas of the country lost anywhere from 10% to 30% but some areas of the country lost over 50% of their housing value. The group hardest hit in this downturn is the middle class because the middle classes’ wealth is their equity in their home. The middle class lost $7.38 trillion when the housing bubble busted.
The middle class kept the economy growing by borrowing from their equity to buy cars, boats and take vacations. Now the middle class is broke and they are being very careful in spending their money so they can keep their heads above water. The middle class that was living comfortably prior to the bursting of the bubble is now struggling just to make ends meet because of the price of groceries, gasoline, taxes, and inflation in general.
The wealthy also lost money during this downturn in the economy but their losses where mainly in a form of paper. They have recovered their losses with the recovery of the stock market. The recovery for middle has no end in sight and especially when you take into account the number of people who have lost their homes or are about to lose their homes.
The middle class continues to lose ground with no hope of recovery:
As the unemployment rate continues to stay above 9%, the middle class is slowly being squeezed out of the workforce. Those individuals that have lost their employment are having a hard time getting back in the workforce. Also, employees in general are having a hard time staying above water because the companies and the government agencies are not giving raises to keep up with the current inflation. Teachers, police, firefighters and other federal and state employees are either being laid off or their salaries are being frozen. The middle class is losing grounds every day in this economy.
This problem will continue as long as the number of upside down mortgages continue to haunt the middle class. The middle class is very careful with how much money they spend on groceries, gasoline and other recreational expenses.
Free groceries and free gasoline is a possible solution to this sluggish economy:
With the current economic situation, many people are looking to save money on groceries and gasoline. One of the ways to save on groceries is to shop for bargains at the big discount stores. Another way is to use the rewards programs at your local grocery stores and try to shop the sale items and avoid the impulsive buying whenever possible. The best way to save money is not to frequent the grocery store as often as you did before the downturn in the economy.
Another way to save on groceries and gasoline is find a way that you can get your groceries and gasoline at a discount or get free groceries and free gasoline. There is a home grocery delivery company out of Pensacola, Florida who created a program last year where you can make a one-time purchase of groceries and meet a couple of requirements to earn free groceries and free gasoline. This is not gimmick or a get rich quick scheme because you will have to put some effort and time in order to earn free groceries and free gasoline.
To learn more, click here or click on the link below to get more information on how you can get free groceries and free gasoline.
www.gasolineandgroceriesforfree.com
Leonel DaRosa
