Envision Documentary: The Incredible Shrinking Middle Class
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- เผยแพร่เมื่อ 25 ก.ย. 2008
- Nearly 40 percent of San Diegans dont earn enough money to live here, according to a new report. San Diego is the 11th most expensive city in the United States. The Countys unemployment rate is at a 13-year high -- 6.4 per cent, and 100,000 people are looking for work. KPBS reveals why this is happening in a new documentary.
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At 3:00
Woman : I have a masters degree.
Recruiter: Great, you are overqualified.
Even the education system is like this. Either overqualified or under qualified. At the end, they just want to hire family members. 😣🙄It is all bullshit!!!!
Too many people think it will never happen to them. It can happen to anyone.
Yes! The exact words I would use. I'm sick of hearing all the bullshit about "People should just work harder, try harder, not be such lazy asses, blah blah blah *insert more self entitled drivel here*".
All that horseshit just makes me wanna punch the wall so hard my knuckles will bleed.
Exactly when the lower class was being devastated the middle classes laughed at them.
And it does
The best way is to get a degree in engineering and mathematics
@@patrickjones7434 Then once you've chosen the wrong specialty or chose the hardware instead of the software side of electronics years ago you're screwed.
You have to make $34,000 per year to survive in California. What a load of crap. Everything is so expensive in California. You have to make at least $70,000 per year to live in that state.
+Jimmy Flex Totally agree. Also long term residents have benefited from their homes tripling in price in the last 15-20 years so once they die off the only people who can buy those expensive homes would be higher income earners than the previous owners. It doesn't make sense how the next generation will buy homes since wages are stagnant and good paying jobs are on the decline. Maybe investors from China grabbing everything up then renting to everyone??
your totally correct
$34k is too low, but $70k is an exaggeration for SoCal, I'd say that's more on target for the Bay Area, DC, Boston or NYC
As a single person no kids, you can do okay on $50k/yr in LA or SD
FirebirdCamaro1220
I live in the Bay Area, $70k should be the minimum wage here. At that price a single person could have a 1 bedroom apartment, have food, and make a car payment...but there wouldn't be much room for disposable income.
At the very least payroll tax alone will tale almost half of that 70k!!!
Two simple rules for surviving with a low income:
Do not ever have children. Take care of your health.
Have never had them because i cannot afford them!
id say, to get married. Good to have the support and duel income.
Bob Ranch. Until one or both of you gets laid off!
My children are older and can take care of themselves. I’m trying to be healthy
you forgot the third one
don't live in California
In DC, I kid you not, there are jobs here that pay $14 / hr and require you to have a bachelor's degree.
That is pathetic! 😮
@@labadaba5088 That is in South Florida too. It is everywhere.
Still like that in Oregon, now 3 years later since your comment.
What the f#$k !! 🤔
I am surprised someone who makes over $150K/year has limited savings and investments.
Really depends where you live. 150k in bay area is not much money. On the other hand, this would make you very comfortable in somewhere like Idaho. Housing costs are the real issues in America
Bro collage debt interest, credit debt, higher tax on middle class, It all adds up.
because people over estimate what they can afford. Instead of waiting a few years to add debt after getting the 150k job. They go buy a car, buy a house and open several credit cards before they even settled at the job.
ungratefulmetalpansy bro let’s say you go to college and get $100,000 in debt but you only get a job that makes you $30,000 that’s a wast of money. And it’s happening everywhere, people are not making the money to pay off there debts.
Valeriy Keller it depends on the person. When I graduated I made it my mission to not start a family or make any crazy life decisions until I paid off my debt. Graduated in 2006 with 60k in student loans. Half of my entire salary every year went to the principal balance. I was paid off in 5 years. It also depends on the person and how knowledgeable they are. 🤷♂️. It can be done.
Once you hit 50 it's a rap for you. Just like racial discrimination is real so is Age discrimination which affects everybody.
Alex Mundo ageism
The same happens in Australia if you are over 50 then you will be very unlikely to get a job
I disagree!!!!! I'm African American and 52 years old and I just moved from San Diego to San Francisco. I secured a Telecom Voice Engineering job that pays $94K per year. I was making $62K in San Diego.
lol making 94k in San Francisco is living in poverty
I'm 63 making 75,000
Passing out resumes in a mini skirt. She sure wants a job.
Unless the manager likes her ass particularly.
@@bmw803 I don't think she can temp very many.
@@godschildyes probably not.
Not sure you want to see me in a mini skirt...
$195k a year 23 years of experience. Looks like she didn't save for a rainy day.
Hahaha! Some people never save for that rainy day
@American Man *Parted
Her hubby makes more than I've EVER made and he only works part time. I usually work 2 jobs
@@dollhouseq1530 he is a lawyer that has an entire career of experience behind him.
I know. Very sad. The sad truth is that for many the more money people make the more they spend.
This was uploaded 11 bloody years ago and it's still FRESH!! Going through this for more than 10 years!?!?!?!?!? Who has any illusion that things will get better?
The only thing not still fresh is the mention of a Blackberry at 11:15, but other than that, it sounds like today.
@@Illisil I want to sat it's sad but it's infuriating! And, I miss Blackberries!
The dem should be mai
Made to replace all the millions they wasted on the phony impeachment. Come from any and everyone paycheck personally we the taxpayers are tired of waste of money and then debit get larger.
Ya WTF now we as humans are pushed to pay thousands of dollars for phones back then $200 got your far with phones.
@@trailerkeller6760 I still pay 200$. Decent phone.
OMG!! her husband makes $54k parttime and she gets more in unemployment than i make at a full time job!
I WANT THESE PROBLEMS, PLEASE
Joseph Drummond but look where they live California is crazy and those people need to move and help themselves
Not to mention her husband's health - he's a heart attack waiting to happen at 62 and that weight around his belly. I wish PBS will do a followup on these people and find out what happened to them.
Convert
And they never saved, apparently. Maybe Tubby Hubby ate their savings!
If this is the so-called middle class... no wonder it's disappearing.
I live in the San Diego area, and I am moving. I am downsizing. I am not interested being or competing with the Jones. I am ridiculed for my frugal ways here in California. For example, I grow vegetables in my small garden and pots, sew and crochet, have a food stockpile, and turn off the lights. This economy provides an opportunity to be resourceful and creative. I am very grateful. I have seen so many homeless and hungry people in the San Diego area. I am moving for a larger yard and inexpensive housing.
+Adelita Valle That's a good idea since San Diego has gotten insanely expensive. You are working on the part of the equation that too many people overlook because of their pride and laziness: expenses. Since Income - Expenses = Savings, you have to focus on both pieces to be financially free. Corporate America wants us to forget about the Expenses piece so they can churn revenue.
My fiance and I make 6 figures and are looking for a van to live in to escape the rent robbery.
You are part of the solution. :)
@@Briluvr go to trucking school and get a license and live in a truck while making money. I havent paid rent or bills in years. When i feel like getting out of the truck i have enough money for a small vacation or i take a hotel room...havent cleaned a bathroom or done dishes in years either. But i love your van idea. It can be very cozy. I have all the comforts in my truck...tv microwave fridge several appliances that can be plugged in to cook such as crock pots and skillets...living the minimalistic life. I do pay $100 a month for storage that is holding all my household goods for the time i decide to buy a small house and settle down.
@@aqua6613 Thanks for the advice. I wrote that comment 3 years ago, since then my wife and I lived in a van for a year while saving money, that lifestyle really does give up a lot of comforts in life. Now we are in escrow for a house in Los Angeles.
@@aqua6613 maybe you could even give up the rented space - have you seen the prices at goodwill ? If you think 1200 USD in 2 years - you might get a lot 2nd hand (It depends on the value of your possessions and 100 per month is not even much. - Of course it is easier to have your items ready to go so if you move you do not have to search for stuff.
I dont agree the future is high tech jobs. Trade skills like plumbing, electrician, or appliance repair will be around forever because everyone needs these things. You want a job? Become plumber or electrician.
Degrees arent for everyone.
@Mick Mack Thats where new to the industry hires pay their dues. You wouldn't do the grunt work for long, you move up. You can also specialize, job hop to different companies, start your own company etc etc.
Totally agree with you trades are in a really big need
Robots will be the plumbers and electricians of the future.
laughing my ass off at this comment .......you must be a desk jockey
Media always misguide the public.
High tech jobs can be easily outsourced to China or India. The Engineers there works harder and demand much less pay. How do you outsource nurses and Plumbers? Those jobs require physical labourer are harder to be outsource or robotic.
This was made 11 years ago. Now the situation is 10x worst with the COVID-19 outbreak.
I agree and not much has changed. I'm underemployed and certainly under paid but glad to have a job for the last four months. The benefits are great, union jobs doesn't pay a lot but a small pension and good health insurance makes up for it. The sad thing, although I'm grateful it's disheartening that I ended up here. It is what it is.
Sometimes we think we can face silent battles on our own. The truth is--we need each other!
We need each other, or government assistance
Shhh... you can't speak like that in United States... you'll get labeled as a communist or socialist, which is worse than pedophilia and rapist in many states.
@Wally Reyes Atheists are actually more promoters of social welfare and government assistance supporters than the overtly devote religious people are. 🤔The religious only help their own, while atheists actually would help anyone who needs it.
I never made more than $50k but I am now retired with about $1 million in assets + 2 houses. Here's an idea: Don't buy shit you can't pay for.
Wait!? He makes 54k a year (at 6:15ish) and they cannot survive on that? It is just the two of them and the house??? Those college kids can pull their own weight and support themselves. There is no reason two grown adults cannot survive on 54 THOUSAND DOLLARS a year. Sounds to me like they have too much debt and never thought the good times would end.
Do the math. 54 a year wont even buy you a 250,000 house which is average price for a home lol
I see how they cant make it
@@valeriem4022 - They're in their 60s! They should have a paid off house considering how cheap Cali was 30 years ago.
@@signalfire6 Good point!
So that woman working in pharmaceuticals for 20+ years at $195k/year did not manage to save a few million dollars and be financially independent? Who's to blame? Good times ain't gonna last forever.
Depends on where you live, $195K a year in California is NOT going to allow you to save a few million TRUST ME!
espada9
I became a millionaire by 30 but I didn't save it.
Apparently she didn't invest a cent.
David Xu save a few million she made a few million after taxes she's not gonna save 100%. And even if she saved 10k a year you can't retire off of 200k.
Preston Chandler
She would have to invest it.
News flash for you proletariat idiot who never earned enough to be harvested by the regime: the combined taxes from country, state and federal on incomes around $200K are 50% - so your net income, the amount that the regime allows you to keep, is only $100K. Stop with the envy & resentment jihad against the more successful because it won't help you, an turn on your dormant brain, that might help you.
Im looking at the 2nd lady who was making 195,000 a year and living in a shack. Move people Move. The rest of the country is not as expensive as california and new york
I hope she was saving during this time she was employed
I had a friend who seriously struggled with his job search during the recession. He applied to fast food restaurants, despite having a Bachelor's in Science and a Master's in Mathematics. He was frequently told he was over qualified, though he kept saying he just wanted to work.
How's he doing now?
Removed the degree and apply at a temp agency...
@@nihilisticbarbie My apologies, as I just saw your comment. He passed away from an infection in his body, which the doctors said they couldn't find the source.
I have to laugh. You can't expect a degree to launch you into a high paying job. The generation before us sure had it good!
They also were able to find a decent job to live middle class not working class.
Y not? That paper is very important !(😂😂😂😂🤩)
Don't need a degree at all
@@kitterglitter7777 a
@@leeave17 everyone has got a degree
She states at 5:20 that she loves her weekends off....What a privileged individual....What if I offered her a clerk job on third shift? She'd say F-off...I have worked third shift 5 times in fourteen years through my promotions at my agency.She wants to PICK her job, not land a job....
Sad to say is that about 40% of Americans can't afford to live ANYWHERE in the USA because of our growing Poverty Rate. Even those slightly above the "official" Poverty Rate are wretchedly Poor. I don't have the answers but we know that Welfare is a trap and we need to find a better way for people to EARN a decent living. Our problems seem systemic and handing out Welfare is only a temporary way to relieve people of homelessness and hunger but is NOT a cure. A cure is beyond me, and apparently beyond any of our current politicians whether Republican or Democrat. The USA of the 1950's was far superior for the average person than what we have now...
Getting $3-400 per month for a family of three isn't something that's going to "trap" anyone. That's the average Temporary Aid to Needy Families payment. The worst states only provide $175/month while a very few provide up to $7-800/month (such as Alaska where most people who use TANF are living in the Alaska Bush and food costs 4-6 times as much.) "Welfare" is a temporary aid that provides just a small amount of assistance.
Randy109 you are exactly correct, anyone who disputes this should look at a almanac.
randy109 superior maybe economically, but not necessarily culturally or environmentally. Willful ignorance on racial inequality under laws and zoning and disregard for the health of the environment got us where we are today.
How in the hell can you be over qualified? It's like you're damn if you do and you're if u don't.
It means you know more than they do and are a threat to their position.
"Over qualified" is just another way to discriminate, a company is never going to tell u the real reason....
Over qualified means youll want more pay than the company is willing to pay someone who will work in that position
If you're over-educated, middle-age and middle-class and you lose or naively quit your job without first getting another, be warned: Employers may see you as past your use-by date!
If ur at this age, make sure to have a 5 yr savings....this is how long it could take if ur over the age of 50 to find another job...
Or you can work for Amazon.
10 years later its still not any better
It is only going to get worse. The US is a declining, dying giant.
I laugh now when I hear the average prices on this video.. only $1700 mo for healthcare for a family of 5... this was clearly pre ObamaCare! I pay $2500 month for 3
@@JenX422 fuck me. 2500 for 3. That's a mortgage...lol.
Robert Preskop I come from the future. You are correct
@@robertpreskop4425 The US is now a third world country!
Jenny Carroll-Powers was totally not dressed properly for a job fair. She looked like she was going shopping at Walmart. A professional image is crucial.
I couldn't believe what she was wearing!
You haven't been to a Walmart lately.
It's crap that image is more important than results and/experience but it is true.
That may have been all she had at the time......
I agree. She wasn’t even wearing shoes; she had on sneakers!
OMG $450 a week on unemployment! I wish I could go home to my big house and spend time gardening and not have to work 2 jobs and make time to study for the LSATS... I barely make that much a week and I work 40+ hours a week. But then again... it's 2018.. the hustle nowadays is HARD.... P.S. I still live with my mom.
I think people are too focused on college degrees. I have a bunch of them already, but I wish I had learned a skilled trade instead. Study to be a master electrician or plumber or HVAC technician or welder. Join a union or a company that pays well. No student loan debt and no shortage of work.
I have some college but no degree and have done pretty good...but i think today, it's much harder than it use to be....
I used to live in San Diego county, so this really hit home for me. San Diego is a very expensive state to live in. The cost of living is very high, which is one of the reasons why I left. I empathize with everyone in this broadcast. Since the cost of living is so high in citites like San Diego, scrapping by gets harder and harder to do. I know that this is from 2008, but I think that a lot of what is in the broadcast is still true today.
MissNayNay let’s cut to the chase. If it’s expensive leave,relocate. The state loses tax revenue. Business files bankruptcy. Only the extremely wealthy remain but they alone have to support state spending with higher taxes. Their accounts tell them to move for the tax savings. The only ones left are government employees who will soon stop getting paid because the wealthy left. The state files bankruptcy and all debts are erased,along with pension benefits for all the government employees. China shows up at the bankruptcy auction and purchases California with shiny beads and the promise of setting aside a small section of wasteland for the remaining inhabitants.
It is time to loose greed, envy and gluttony. Many of us are not able to spend as the 80's and 90's allowed people to-money is wasted on first world ridiculousness that many of us would be embarrassed to share to someone out there in a country who has one pair of shoes a year.
D'ah. Thanks. It's one of my favorite comics and Lori was perfect 😉
Kari Bennett so true about gluttony..
I also expect it will be remade soon.
As a second generation native San Diegan, I am very distressed how the county has let itself overbuild, letting too many people move in, and not creating an environment that would provide enough jobs and reasonably priced living availability. My relatives and myself are the last to have been able to enjoy the best of SanDiego from the 40s thru the early 90s. My grandparents and parents lived in modest homes and raised their families in the middle of the growing city limits. I grew up in a family of 4 in El Cajon which was a wonderful community to grow up in. I never had a problem finding a job and enjoyed a nice life in my 20s and 30s. I moved to Riverside county in '93 and now live in Texas. Sadly, I will never be able to return to my favorite town due to SanDiego not thinking of how the overgrowth would ruin what the city had to offer to those who moved and lived there originally.
Carol Powers has a loving family. Even if they lose everything, she's got it all.
When FDR signed the living wage, republicans said it would destroy the economy. Every time the minimum wage was raised republicans said it would destroy the economy. He law was written to go up with the rate of production. If it had, the minimum wage would be over $23.00 an hour. Republicans have stopped raising the minimum wage since the 70’s. Reagan shifted the tax burden from the top wage earners to the middle class. Reagan’s voodoo trickle down economics destroyed the middle class. We now have the working poor where we once had a middle class.
This is it in a nutshell. It all started with Reagan, including the mortgage industry crash.
Ronnie Baker I agree 100%
Rasing taxes globally killed middle class globally moron . USA has the biggest middle class per capita
@@coopsnz1 The USA has a pay gap of 287 to 1. the largest by far in the world, shit-for-brains. The French Revolution was fought over a 35 to 1 inequality. I know you low IQ white nationalist think "Murica" is the greatest country in the world but unfortunately it just isn't true. The USA don't have the highest taxes but the USA but it is the only country in the industrialized world that has for profit healthcare and free healthcare isn't covered by taxes. The US is 37th in health care
I heard what she said. I also don't have enough income to live in San Diego. That's why I live in North Carolina. It's great here! Come and visit.
She says she does not want to be rich take a look at that house do they think their poor.
Seems like the reason the middle class is disappearing is our lack of savings...that causes desperation in the job market. We all need to spend less and save more removing that smell of desperation and giving us some control back.
I thank Dave Ramsey for showing me this. Borrow his book, Total Money Makeover, from the local library it will change your life. If all Americans did this it would change the market! When you carry no debt and know you have a saftey net the world can see you walk taller.
Me to I'm doing ok as are millennial . 150 k net worth . I also own one of my dream cars
never finance are car privately
No lmfao over millions of jobs lost gm and factorys
You people are uneducated and don't know whats going on.
saving sucks. Inflation,deliberate by your government is the culprit. You must invest in something. When you could get 5% interest,you could have made out,savings made sense, If you did not live within your means, you will regret it.
what really scares me is how many people work at REAL jobs for less than $12 an hour. We need more people that can do blue collar jobs, plumber,electrician,mechanic. those people can make some serious trash. I recently found out the lady that trims my hair at the mail makes on average $200 a day . Shes the one whose smart
@@ALCAN52 - Alaska's COL and wages don't translate to anywhere else in the States.
I feel for these folks. Here we are, 11 years later, and times are still tough for the working class and the middle class. My sister got laid off from 2 different jobs over the span of 3 years. The 2nd job had her uprooting her life and moving across the country, only to be laid off within 6 months, because the company had not been forthright about its financial difficulties.
We should all be so lucky as this first couple! They make over $4,000 a month with the wife on unemployment. I have a nice college education and only earn a little under $900 a month. Poor my @$$!
How can so many defend the system? It's like being friendly with a spider. It may nor bite you first, but it will bite you. NAFTA sent our jobs overseas, and anyone that doesn't believe that is willfully blind and ignorant. Also a tad arrogant if you don't believe that it can happen to you. It doesn't matter how much you have saved up if your source of income dries up on you, and you have to dip into your savings eventually you will spend until there is no more savings left. The only exception is for the independently wealthy. Most people don't have that luxury. It's wrong to imply that anyone that has fallen on hard times is somehow beneath you. I don't understand where all of the nastiness comes from, but I've sure seen it in many of the comments posted on this video. You can presuppose all you like, but unless you've walked in another person's shoes there is no way to know what they are going through.
+happy2bme 2001 a guy that went through a civil war once told me : when ever a revolution happens its worse after . that why so many people defend the system they live in because by the time thing get better they wont be there to enjoy it
+Michel Nadon That makes sense to me.
+Mr. R I'm not on hard times myself, but I still care about those who are.
***** IT boggles the mind. More importantly it confounds the heart.
More important than that is that it will lead to a heart attack from stress.
Middle class jobs are disappearing because they were outsourced to India and Philippines as they speak English. That needs to stop.
outsourcing is a done deal, it's being replaced with automation and no workers regardless if they speak English or not will actually benefit in the long run.
Duane Locsin Then according to your logic, manufacturing should continue to be outsourced too. To Trump, it's not a done deal. I do think the professional jobs should come back to the states.
I'm talking about automation. that's not the same as manufacturing, although it is an integral part to manufacturing.
what I am trying to explain is the costs saving of outsourcing is obvious to large companies that do it, to Trump it is a done deal.
Trump is not going to have jobs come back from outsourcing (that's just standard political pandering), what actually will happen is 'Manufacturing will come back to the US via automation'
politically you can say - jobs have come back and are created, but if you look deeper they are not for people as it it will be automated.
a perfect example is Apple bringing their manufacturing back to the States, but it will be largely automated.
Why have automation in the states as opposed to having automation in some place in Asia?
political points, but there can be reduced costs such as shipping and logistics.
the costs of goods and services that may increase as a result of coming back to the States can simply be stated as.
"bringing jobs back to America has increased costs, therefore you will pay more for goods and services" and most American's will just be happy with the justification because there are more jobs now, but in reality there isn't.
Just so you know, no one has the time to write or read essays on TH-cam. Everyone has their own perspective and we're not out to persuade anyone else. It's not a matter of right or wrong. It's a matter of what we want to achieve. Not everything that we want to achieve can be justified by costs. It's not about politics, and it's not always about costs.
Its a correction. Americans are over valued and India and Philippines are under valued.
5:45 "and now works part time earning $54,000 dollars a year" WHAT! HOW!
Lawyer, probably gives legal advice part time.
Exactly!! How? I’ve been working for ten years and make a little over that 😞
Ashley Long very easy, he is an attorney.
I was in lending for 30 years, now own my own business; lending has become very corrupt and political.
Sub prime loans and the housing bubble were the nails in our coffin.
That Chris dude is delusional, how are you over qualify when you are a recent graduate with no work experience just book theory knowledge from a university.
Well some places will not hire you for lower end jobs if you are over qualified ie. they know you are just biding your time for something better. I left out some of my qualifications when I needed a lower end job.
That Chris dude is a hot piece 👌🔥 of azzz...
He said he is overqualified for a job he applied he may meant jobs like janitorial,construction etc.
It's a catch 22 to get experience someone has to give you a chance to gain it but many dont want to give a chance. I had this problem after college I ended up in a completely different field it worked out but no one gave a chance in my actually career
@10:54 She made $195,000 a year and she is broke?
+Josseph Woolfork $200k as truckers" Right.
Then they pay for fuel ,food, insurance ,truck payment on and on.
+SUPERSPORTS You've never lived in southern california have you?
ZetterStudios
It doesnt matter where you live . If you make over $100,000 a year and you cant make ends meet then you are a ridiculously poor money manager
+SUPERSPORTS you are right. but 100k is gross you forgot about the taxes on that income that the person pays.
well if your assuming your going to have a certain amount to spend and something happens where you'll get less. Yes you will be broke no matter the gross. It takes time to sell assets. The money isn't going to just be sitting in a bank. If I think I'll get 1 mill a year. I'll probably spend 900 thousand. But should something go wrong and I loose my job I'll be in the red like anyone else and paying tons of money out because I established my life under false pretense. Lots of rent maintenance of cars school tuition etc. I've seen boats that are 500 thousand a year just in maintenance and take years to sell and by the time they've scaled their lives down they're in the whole for millions.
If you voted for a democrat or a republican, you voted for this.
Making 200K a year is not as important as, did she live "below" her means by saving every a lot of her paycheck - not listen to professional salespeople (brokers lie all the time) and putting MOST of her money in cash, stay out of debt, stop shopping for nonsense. I'm a retired lawyer, drive a VW Bug - almost 10 years old, house paid off, save everything by living well below my "assets". There are too many lawyers - some get paid 10 dollars and hour and take the job. Never have more than 2 kids. Never take a humanities college degree - worthless in a math/tech World. I would never recommend law school unless you get into a top one. I would say, math, math, physics, or medicine - they can't outsource those careers yet. Remember, you are competing globally now. I was a maritime lawyer and saw the destruction of shipbuilding - all foreign built now - except military (U.S. Flag) crew labor - all foreign flag (no Americans needed!) even scrapping ships is done where there are not EPA rules. Only maritime jobs are from the Jones Act (protectionist laws) Trades. We don't build commercial ships anymore, no U.S. union labor, but we are the tourists that go on these ships. Sorry for the essay. Job counselors should only be paid when you land a job. San Diego is a Navy town - I lived there for a year. I lived in a closet but was young. Rainy day is now rainy century for American middle-class. Take that 10 an hour job if you must.
+SassyHershsey SassyHershey I grew up in San Diego and my dad is a corporate lawyer. He urges me to go to lawschool but I am not the most dedicated student so I'm not sure about getting into a good law school like he did. He's making 7 figures now and thinks that anyone can with a bit of work.
I've been working in sales and saving a whole bunch of money which is nice though, enough to buy a decent house in cash at this point.
Briluvr My father was Yale 1932 class and a lawyer before anybody even went to college - he encouraged me to go to law school, I don't regret it, but it is like college then in value. Sure, I'd be a hypocrite to tell you not to apply since I got my seed money from law - made my millionaire status from high risk gambling on the internet before it was called that in 1990. My father was also an entrepreneur - 1950 invested in solid rocket fuels - big then with the Cold War - 1960 they went from 4 MIT scientists in 1948 to hiring 6000 workers in VA Atlantic Research Co. Built those solid rockets on the Space Shuttle for example - that changed his life he was an "insider" I was not. But absent some lucky investment - law is no joke, law school is hard, the bar exam is hard. Now at 59 I still hold that a physics degree or Medical School is better, any Medical School - heck, as you dad?
SassyHershsey Universities and other educational institutions hardly teach you how to get things done.They don't teach you to be Street smart. Your best University, my friend, is your dad. He knew how the system actually works on the inside.
How about blacks, majoring in Black History. Ohio is full of them.
193,000K a year...... and you don't have 6 months of living expenses saved? like srsly?
These people had incredible foresight. It went all the way down after 2008.
Insufficient incomes aren't the main crux of the problem. Excessive spending is. I can't put much stock in someone complaining about their income when they hit the bars every weekend, smoke a pack a day, eat out four times a week and have to go to Starbucks every morning.
How about when your rent and living expenses exceed 60-70% of your wage.
force the rich to pay their fair share of taxes and fair wages, it has been done before, 1940s-1980.
you must be poor...
That did work in the 40s. It didn't work in the 80s. Jeff Bezos is 3x poorer than he should be.
wtfhappenedin1971.com/
scroll down on the page and find the "New York and Boston" chart, it's insane. The richest man alive is under 1/2 as wealthy as the richest man in the 1930s, adjusted for inflation. Something happened in 1971, and I don't know what it is.
We need a labor movement badly, but even with 7 billion humans in which we can extract value from, as opposed to 2 billion people in the 30s, and technologies, and fast communication, even our elites don't wash up to anything like the wealthy people from the past. The median wage isn't tracking the growth of GDP.
It shouldn't take 30 years of wage slaving to buy a home. If you left me in the forest with an axe and told me to build a home with plumbing/electricity/wi-fi/etc, I'd probably find a way to get what I needed in less than 10 years. But now it costs you 30 years mortgage to buy a house.
Why? People are PRODUCING more than EVER. Where is it all going? HOW.?
They just pass down the taxes to the consumer , in the end the system is designed to make you fail but , there’s still a way out.
Online shopping killed retail stores
Yeah but there are still shoppers out there that want their products as soon as they pay for it and don't wanna wait to get it, I'm myself one of them
No greed killed the retail stores. They over charged us for years. I remember going to Borders Books near the end and their books were still way overpriced and their CD's were like $20 bucks a piece.
@@rudistorm3348 government ... In majority countries high taxes on purchases , higher regulations on business = higher price locally that socialism
I am 66 years old I have never ever ordered anything online if I can't find it local I can live without it
My first "permanent" position (as opposed to part-time "gigs" at the university in which I completed my graduate study) looked promising, but the company downsized after I was there almost 2 years, and I and half the others became unemployed. It took me 17 months to obtain another job, in another state. (I envy people who are only unemployed 6 months!). I was thrifty, and with my unemployment I was able to get along until moving for the new job. However, I decided I would never be at the mercy of a paycheck, so I lived below my means, stayed single and only rented inexpensive apartments (sharing one during much of this time) and bought used cars which I kept for a long time, so I ended up being able to retire at 60 with a healthy portfolio. I worked continuously after finding the job after unemployment, changing only once during that time because the first job was funded by "soft money".
Sounds a lot like my history.
this is capitalism
rich and poor and no midlle class.
this is just the beggining.
prepare for the worst.
the end of human industrial civilization.
if you know what that mean.
its a self fulfilling system. Employ as few people for as cheap as possible and sell for as much as possible. in the end the few jobs get filled by the most qualified and it becomes an arms race to be the most qualified
TheWhoDatWhoady your screwed my apologies
Capitalism has been good before..
starts good when people are held in check by morals and laws
V TheC Productive capitalism is still good. Speculative capitalism, which is basically a glorified game of Monopoly, is destructive.
$195,000 a year, more than 20 years employed and worried that if she remains unemployed for 6 months, she doesn't have money to pay the bills? Not that I'm blaming her but this is telling that she made wrong decisions along the way.
190k Per year? and shes worked for 23 years? Where did she spend all that money?even 5 years worth of that salary would put may people in a position to retire comfortably?
New merc every 3 years
*****
same ....same...
she probably wasn't making 190k every of those 23 years.
Not that much $$ for San Diego
She assumed her income would keep going up or the job would never go anywhere or downsize her. It sucks always preparing for the worse but it's nice having some cash to hold you over if your job goes away or your wages or hours are cut.
Girl, put on some clothes and look professional. That is, if you want a JOB.
put on your costume and put on an act. pimp yourself out for a dime
Lol
I would be interesting to have a follow up report on these people and San Diego county realities.
Jane, you have a beautiful home! And a beautiful family! You are blessed.
Rome 2.0, have any of you guys ever studied the last days of the Roman Empire? The policies, decadence, characteristics, and moral decay are very familiar to what is happening in all of the Western Countries today? Its creepy! If we don't take heed and change the Path we are walking down we will have not learned anything from History. Is it by design? How can all of them be doing the exact same thing? I looked at the Upload Date of this Vid, and said, " little did we know what kind of Leadership, and Corruption would come and what it would do to us after the 2008 Election in America." Much love.
neweyes777 WELL SAID!!!
After 2008 we recovered thanks to good leadership all to be squandered with the Trump administration.
WTF? $11/hr in unemployment for doing nothing! Wow, i could live on that lol
Wth $10/hour and it calls for a college degree 😯 I work as a home health aide making $12/hour without a college degree.
I make $14 without a college degree, but I recently went back to school. Not bad, but I don't want to stay here forever either.
I make 31hr high school diploma
My husband doesn't have a degree either and we joined together to run a trucking business and now earn over $150k salary a yr each
Ha! Tell em to get out. Man, I've been to San Diego on several occasions and I'm glad to hear that there's finally some excitement.
When being white just don't cut it
Looks like that tax cut stimulus plan of Dubya's worked like a charm.
This is great.
I am 34 years old I don't have children and still in the struggle. I've stopped going to school. I totally give up. Mathematian, actuarial science.
I can relate with u. Just get a job that's easy to do, or easier for the mean time.)
You need to be a life-long learner.
Baby boomers don't understand that.
@@sfab5039 neither do a lot of Generation Xers.
@Bonnie Holman okay Karen.
Maybe they don't choose overly qualified people because they know that they will quit when they find a job.
Yeah, employers want employees who can't do any better so that they are desperate and loyal.
I remember last year, when my pay was cut by 30% in a company wide cost cutting move, and I put in my two weeks that day, my boss was actually shocked that I followed through and did quit when I said I would, I now make more than him lol
THX
PLEASE make an updated version/review of the siruation
i am touched listening to what she said at 11:49 that she missed to be with people.
Seemed a bit emotionally fragile - people shouldn't invest their entire social connections into their job, even though that's the majority of their time. She never married, no boyfriend? No other friends outside of work? Time to branch out even if it means volunteering. Take in a roomie, share expenses. People need to think outside of the box. And don't remodel your bathroom if you're out of work, jeezus.
being a lifelong learner is so important.
Gandhi in India started disobedient movement to get freedom. Unemployed ,underemployed around the world ,start disobedient movement to win employment issues. Problem is
30 years old.
This was at the beginning of the economic melt down, and the first lady worked for one of the first banks to get shut down. She was in an industry that tanked for several years later... This is why it's vital to live in an area where you can live, live debt free (in your 50's), have cash set aside for rainy days and have a retirement account that's very well funded at this point of your life. BTW, her husband is a attorney who ELECTED to be a public defender... his choice, and makes less than $60,000 at the peak of his career. CHOICES matter...
@17:30 She made $195k recently and has been working for 23 years. No she is not struggling financially.
Americans traded freedom for security by choosing to work for some employer.
Started viewing this in 2023. I guess this is more than actual today than it was 15 years ago when this video was uploaded.
Lots of bad choices for the people they interview.
First woman: about to retire before 60... now husband works part time- dun dun dun!
second lady: was earning almost 200g/year. That's not middle class
college graduate: complaining he didn't get a job he was overqualified for. Of course grocery store wont hire college graduate- you will leave first chance you get and will be hunting for new job on day 1.
+Collin Spelts But why is that the graduate's responsibility to make sure he doesn't leave an entry level position and the company has to find someone new? That mentality is hardly a justification to bring immigrant workers ignorant to the reality that the middle class rungs are missing. So what if a new grad only works there for six months to a year? That business is getting 6 months to a year of a good worker. That is the way it goes.
+Collin Spelts people are dumb enough to beleive they will be selected for a job they are overqualified for and then end up with nothing. That's what university does to many people: it fries the common sense that they once might have had when they were born.
As opposed to apprenticeships,community college tech partnerships and training. And IF you really want to go to a uni,then follow a path that there is demand for.
I'm in the same boat as the college graduate in this program; I have a Bachelor's Degree and I've had to take a job in fast food to help pay the bills (my husband works 40+ hours/week in healthcare). Unless you've been in his position, don't judge. Sometimes you have to take the minimum wage job to make ends meet; that's just the way it is now. Unless your degree is in Nursing or some sort of computer programming, you're stuck. He may be "overqualified" for said position, but if certain stores - retail, fast food, ect - need people, they'll hire just about anyone.
Moral of the story, don’t live in California, don’t get a degree, volunteer, hustle, or work in a low paying job, live below your means, and never ever get married.
The lady who washed out of WAMU mortgage had a hand in the mortgage fraud leading to the collapse of the bank and then the economy as a whole. How you like that karma?
So she is working $190k per year, for the past 23 years, and she does not have at least 4 million saved,. SAD
We don't know her whole story, but she is definitely a product of the consumption society and never learned proper financial management.
The problem with a degreed person applying for lower level employment is that most employers know you will leave them when something better comes along. Some employers will actually demand a degreed person in their ads for clerk positions, but this will hurt them later.
In order to accomplish shit you will often have to give years of effort to the process, but your life can still fall apart in 1 second
This documentary only looks at San Diego. The cost of living is rising in California due to housing demand exceeding supply, causing a shortage. This problem is especially bad in the bay area where the tech industry caused demand to skyrocket to a point where it's become a crisis. The Northeast and West Coast are generally expensive places to live.
What I'm trying to say is that if you live in California and feel that you are paying too much money for what was much more affordable in your parents' heyday, it's best to move to another city like Phoenix, Boise, or Las Vegas.
would of liked an update on them
I think that woman in pink is pretty rich to me, nice house and garden, 2 kids in college. Time to sell the house or something! Or start a small business.
one of the problems is that the areas where the jobs are, also have the highest prices, because the businesses bring with them wealth, driving up housing prices and prices in general. New york is a great example of this. all the wealth being brought to the city skyrockets prices to the point where employees with modest wages cant afford to live where the jobs are.
normally, in a market system this would cause prices to lower, as demand falls, but americans have borrowed trillions of dollars in order to remain in these affluent areas. i find it funny when so many are concerned with the public debt, which is now 20 trillion dollars, but ignores the 35-38 trillion dollars of private debt. sooner or later, the credit is going to run out...
it's because not enough housing (mainly apts and condos) isn't being built, thank NIMBYs
Demand increases in this situation, not falls. Primarily housing demand yet supply is limited. Bay area is a great example where housing costs so much even those making 100k are shut out forcing them to rent. So many foreign cash investors will offer more than market price for homes just to gobble them up.. Now you have a rental market where average vacancies are less than 1%, driving up rental costs.
And the Super-Rent the foreign investors charge both for domestic and commercial property has destroyed the economy: Rising minimum wage or even UBI would be ate up by greedy landlords. The answer is draconian rent controls to lower the "rent tax" and deprive these parasites of their unearned income.
Here in Central/Coastal California you need over $70K to live in the "middle Class", and I should say LOWER middle class because you can't own a home if you make less than $100K, and that is just an older smaller home. My son in-law makes $75K and my daughter is a teacher and makes close to $50K. The two of them have 3 kids and must rent because the lowest priced homes would take up the majority of their income to pay the mortgage. I make about $73K and must rent an apartment so I can save for retirement. My son and his wife and 2 kids live near the SF bay area and they do ok because he is a Mechanical Engineer and makes $67 an hour and my daughter in-law is a Biologist and makes about $50K (part time). For the poor bastards that make $20 an hour and have kids I don't know how they even get by...
If you can’t afford to stay in California....move somewhere else!Its call Freedom 🧐
@Leilababy89 Easy you put your Cali house up for sale. When it sells you buy the same house in Kansas or Mich etc... Say you sell your cali house for 500K you buy another house for 250K and invest or live off the money until you get settled with a new job.
Ianthia, hi there :) in some way, you're right, a certain degree, won't bring much, when you aim for what many called much.Look and reach, persevere for not of the "much" but always of the plenty for many shall be derived from being plenty.
who else is watching this in while quarantine and on un employment
And Ten Years later ...it is way worse!
The top squeezing the middle to make .01% more...problem is...when the middle class are the consumer engine that drives sales and they can't spend like they used too, then the sales figures drop.
This leads to a cycle - dropping middle class leads to fewer middle class jobs leading to lower sales...
You're forgetting developing countries are growing rapidly. American middle class are not the only ones who can spend money nowadays like it used to be.
@@zuzanazuscinova5209 you are correct, there is in every nation a growing demographic of consumers that can drive sales. however the US is not a major player in manufactured goods going to these emerging markets, China and India are.
The situation is very frustrating. The man who came late in the story, did not give any specify detail addressing the problems presented in the video. More education is not a solution, it only creates more debts.
Problems are created by business men, and the financial system. They are not trying to solve the problems either. Private corporations control the government. So, government cannot create jobs also. Therefore the solutions are left to the people, and they do not know what to do. The situation will continue downward.
The root cause of all problems is money. Why not get rid of money and create money-less economy (MLE). There is no need for money to run an economy. MLE will immediately solve all of the following problems: poverty, unemployment, discrimination, racism, religious violence, gun violence, wars, terrorism, migration, pollution etc. MLE will give you full democracy and any lifestyle you want. Take a look at the MLE chapter in the free book at theoryofsouls.wordpress.com/
How do some of these people have these jobs and a strong income and yet NO FINANCIAL PLANING!!!
I think the first thing I would do is move. I learned years ago to live below my means and save whatever I could .The most I've ever made is $13.80 an hour after quitting a job of 20 years earning no pension. Currently living on just Social Security carry no debt no house loan or car payment small IRA and 401k. I realize a lot of people have not been as fortunate as myself I feel very blessed.
The Middle Classes is getting older lets tell the truth.... More middle class people are retiring from there jobs. There more then enough money to go around in America TRUST ME AMERICA HAS ALL THE MONEY.
The Biggest problem in America is the lack of educating how to invest there money and not relying on 1 income. When you talk to a wealthy man or Rich person they have more than 1 income stream.
+Tyrell the money at the top 6 people has more money than the bottom 45% in the USA . Walmart
and getting billions from the tax payer each year
+Tyrell world wide 32 trillion super rich hiding offshore bank accounts preventing 280 billion in Taxes
+Tyrell America 18 trillion in Debt 130 trillion unfunded liabilities and so on
US Government pay 400 to 500 billion on interest payment on there debt with rates at 0 each year
+sha370z not true at all. Here are the facts 78% lack the education on investing there money and time. 60% of Americans lack the education on purchasing a home. Money is a tool, a lot of people don't respect there money. People waste there money on things that not bringing them any returns or gains. This is true. The middle class is not getting wiped out at all. the poor class is growing because lack of education on how to invest there money. There are tons of books and classes and millions of mentors out there teaching people about the economy. Learn how to save and invest in you community. Teach the community.
Tyrell why did the banks and wall street and the US Government need all that QE 85 to 100 billion each mo for 7 years
and rates at 0 ? Glass Steagall act remove 1999 . Libor scandal . The crash of 2008
11 years nothing has changed. That's sad that when another recession happens same cycle will happen an infinite loop.
Looking good Canelo.
So sweet together it will go a long way
If you can't afford to live in San Diego, then move to Detroit!!!
yt ofso Baltimore is a nice choice as well.
move to thailand.
AcaJudi JudiJudiJudi Sri Lanka
+yt ofso
No move to Springfield MO,Tulsa OK,Topeka KS,or Evansville IN etc .
+Patchuchan those places all blow dogs for quarters, if it was a choice between Tulsa or starving to death, I'd starve