Americans Are About to Get Poorer in 2016 as the Wealth Effect Reverses
63 percent of Americans have no emergency savings.
from My Budget 360
The year is off to a tumultuous start. Markets around the globe are quickly realizing that hot money is going to hit a wall at some point. Many Americans are coming to the stark realization that the recession that ended in 2009 never really ended for the middle class. In fact, it might have been the nail in the coffin for the middle class. Much of the fragile gains really went to a small fraction of Americans and the financial system is predicated on siphoning off wealth from the working class. Many Americans are still living on the financial edge. A recent survey found that 63 percent of Americans have no emergency savings. Forget about having a robust nest egg. The retirement plan for many Americans is to work until they fall over dead. While the last few years brought in spending with debt this of course was set to reverse once the market had its first tiny correction since 2009. Americans are about to feel and become poorer in 2016.
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Source: http://financialsurvivalnetwork.com/2016/01/americans-are-about-to-get-poorer-in-2016-as-the-wealth-effect-reverses/?utm_source=rss&utm_medium=rss&utm_campaign=americans-are-about-to-get-poorer-in-2016-as-the-wealth-effect-reverses
