Tip of the Hat to Contributing Editor Berto Jongman
Eagle: Charles Hugh Smith on What Killed the Middle Class (Government Legalization of Banking and Corporate Crime)
If the four structural trends highlighted below don’t reverse, the middle class is heading for extinction.
Everyone knows the middle class is fading fast. I’ve covered this issue in depth for years, for example: Honey, I Shrunk the Middle Class: Perhaps 1/3 of Households Qualify (December 28, 2015) and What Does It Take To Be Middle Class? (December 5, 2013)
This raises an obvious question: what killed the middle class? While many commentators try to identify one killer cause (for example, the U.S. going off the gold standard in 1971), the die-off of the middle class is more akin to the die-off in honey bees, which is the result of the interaction of multiple causes (factors that increase the toxic load dumped on bees and other pollinators by modern agriculture).
Eagle: Charles Hugh Smith on Making It in a Collapsing Economy — Create a Local Business, or Volunteer for a Global Charity
In the age of automation, what’s scarce are problem-solving skills.
there are two avenues: volunteer for an organization you believe in that happens to be woefully understaffed, or start your own enterprise, no matter how small.