Unspeakable: the American middle class could not get $ 400 emergency money

Updated: May 22, 2016  Views: 208

The Fed recently released survey results show that nearly half of Americans even $ 400 (about 2602 yuan of emergency could not get the money, the wealth of the middle class has shrunk dramatically. American << >> Atlantic Monthly said, more and more debt, saving less and less, the middle class has become 'unspeakable secrets.'

Data for

Living in poverty is a kind of stigma, silence is the only protection

Has written five books, hundreds of articles, won many awards and a minor celebrity, but also spare time to teach part-time, to write the script, American writer Hugh Craig Qimo (Hugh Kretschmer know myself wealthy gap very far, but he believed himself to be 'a solid middle class.'

However, the reality gave him a first strike.

After graduate school, do some time teacher Craig Qimo writing career officially began. After they married, he found a job in television, the couple in Brooklyn, New York lower prices to buy a small apartment, two daughters, subsistence order to send their children to expensive private school tuition, they decided to sacrifice their comfort of life, 'and, like many Americans, I want my children worse than others, in the future to become well-educated elite' .

Since moving to New York, an affluent area of East Hampton, all the 'accident' after another began to fall Craig Qimo head. He bought a new house, but the old house is sold, can only long for the two suites, the wife also when this time resign and stay home to take care of the children, and finally sell the old house, the New York real estate market deterioration cost him a lot, he lost his television work, had to rely on Royalty-time payment of living, which means he has to be turned over more taxes than others, even the most education spending two daughters, had to rely on old grandparents funding.

Let Clay Qimo pleased that the two daughters had shown great promise. Eldest daughter was admitted to a master's degree from Stanford University and Harvard Medical School, the second daughter was admitted to Emory University and a master's degree at the University of Texas, but for this result, Craig Qimo depleted savings.

Even more disturbing is that although Craig Qimo income remained stable, but the actual purchasing power of the family so that inflation declining, the only thing he can do is to work longer hours to make up for this loss. Clay Qimo working seven days a week from morning to night almost constantly, but still not enough.

According to the US << >> Atlantic Monthly reported that in order to save money, the couple learned to 'live cheaply.' They drive has run 160,000 miles (about 257,000 kilometers, the road nearly 20-year-old Toyota, which Craig Qimo is inherited from the hands of his father's death. they have 10 years without a vacation, two or three months before they can eat a meal on the outside, buying discounted merchandise every supermarket, unless a last resort will not repair the house and cars , prudent to count every coin, no credit cards and debit cards, the little retirement savings are spent on her daughter's wedding. Although Craig Qimo is a veteran film critic, but he now rarely go the cinema to see a movie.

About five years ago, Craig Qimo began to stop using credit cards, and with the help of financial advisers next little debt. He did not save not believe they can rely forever on credit or extravagant, but because of a very simple reason - too little income to spend too much.

Craig Qimo does not require or expect any sympathy, he just can not figure out how he had come to this point, because the choice in the end is the writer of such a ho no secure job in the economy, choose to live in New York rather than in the lower cost place, or because birth to two children?

In order to maintain itself as a proud male, Craig Qimo told his wife that he can feed the whole family a person to those closest to hiding the true financial situation. For him, living in poverty is a scandal, and the silence is the only protection .

Many American families into a 'desperate plight'

Out of this sense of shame, even to the most intimate friend, Craig Qimo also never mentioned their economic plight, until he realized that such a thing happened in the millions of Americans who - not only those difficult to sustain livelihoods of the poor, but also the middle class or even upper class.

Survey results show that many Americans personal financial situation can be described as cautious. According to reports >> << Atlantic Monthly, starting in 2013, the US Federal Reserve and the economic situation consumer financial investigation, the latest results in a data order shocked: 47% of the people in answer to how to respond to an emergency spending $ 400, said, only to borrow money or sell something, or simply take no money.

Craig Qimo need to continue to urge others to pay him to pay someone else. He is afraid mailbox view, because there are always new bills coming out did not check, he did not know that they have no money for the wedding daughter, sometimes we have to borrow money to refuel daughter.

2014 survey results Brankrate information consulting firm to some extent confirms the Fed's conclusion that only 38 percent of Americans from personal savings account expenditures of $ 1000 (about 6500 yuan for medical aid, or $ 500 ( liquidity or about 3257 yuan for the repair. Pew charitable trusts released two reports last year that 55 percent of households do not have enough to compensate for loss of income a month, 56% of people are really worried about their financial situation 71% of people are afraid of not having enough money to pay living expenses.

George Washington University Anna Maria Lusardi (Annamaria Lusardi, Peter Tufano Oxford University (Peter Tufano and Princeton University in the United States Daniel Schneider (Daniel Schneider also reached a similar conclusion. Nearly half of US university graduates unable to pay for car repairs, emergency and other expenses. revenue 100,000 to $ 150,000 (about 650,000 yuan to 98 million households in the United States, only a quarter can be raised within a month to $ 2,000 (about combined 13,000 yuan, only 19% of pawn property or wait payroll.

Lusardi that the financial world has become more complex, the American financial knowledge but not with the times. By compounding risk diversification, inflation and other basic financial knowledge of the study, she found that 65 percent of 25 to 65 years old year-old American is 'financial illiteracy.' consumer Federation of America and the financial planning Association found that 21 percent of people think that to get hundreds of thousands of dollars 'most realistic' approach, it is winning the lottery.

Indeed, in recent years, television, computers and other durable goods prices gradually decline, clothing prices, prices remained stable, but they are not all of life. Once bad things happen, it will have unexpected costs, and unexpected events are often not available avoid. Pew Research Center, conducted last year, 60% of respondents said that in the past 12 months had suffered some form of 'economic impact.'

New York University economist Edward Wolff (Edward Wolff, said many in the 24 to 55 years old working-age Americans gold, only enough savings to maintain normal consumption 5.3 months, many American families into a 'desperate plight.'

The poor poorer, the rich get richer, the middle class shrinking

According to the US National Public Radio (NPR reported that Americans have been living in a middle class family-oriented society, neither rich nor poor, but comfortable enough. However, the Pew Research Center survey found that in December last year, many American people no longer think of themselves as middle class, the middle class from 1971 was reduced to about 2/3 less than half in 2014, which 'could herald a turning point.'

<< >> In the New York Times, the US middle class shrinking for obvious reasons - revenue declined .21 century, the United States an unprecedented slowdown in wage growth, more young families to bear the severe impact of the economic slowdown in the United States in the country. CNBC (CNBC that the average income of middle-income families in 2000 and 2014 declined by 4 percent and the average wealth of 28%.

According to US News And World Report << >> reported that since the turn of the century, the United States wages stagnant, the Great Depression of the labor market so that workers' wallets shrink significantly high income earners fell by 3% in value, the middle class decreased by 4%, while the median income of low-income plunged more than 9.5%, almost all US households have experienced a long-term decline.

Richest Americans have more wealth than a few decades ago. In 2013, the median net worth of high-income families is seven times the middle-income families and nearly 69 times more low-income families, while in 1983 this figure were 3-fold and 28-fold. 'feeding America' organization noted that within a year there are 46 million Americans received food aid banks. US census data agency noted that 20 percent of children benefiting from public funding agencies to support food relief supply and before the financial crisis, relying on relief food children eat only 12%.

Accordance with the standards of the Pew Research Center, a single individual annual income of $ 24,000 - 72,500 (approximately between RMB 157,000 ~ 473,000 yuan, or a family of three annual income of 4.2 million to US $ 125 000 (about RMB 27.4 between million to 815,000 yuan, was considered a middle-income class. but for most people, the concept of class is blurred, especially in everyone will be treated like their middle-class America.

According to the Brookings Institution website reported that in 2014, 85 percent of American adults will be described themselves as 'middle class', a figure unchanged since 1939. Gallup poll found that 88% Americans consider themselves middle class, self-identification and the reality gap, to many people enormous psychological pressure.

American Psychological Association's annual Stress Survey results show that 54 percent of Americans barely monthly income to meet basic needs, and therefore at least 72% of adults felt 'pressure Alexander', nearly one-quarter think the pressure unbearable pressure course not conducive to health, 32% of respondents were unable to maintain a healthy lifestyle, 21% of the difficult financial situation of the people have to give up treatment.

As the American financial psychologist Brad Krantz (Brad Klontz said, financial security and depression, anxiety and marital quality are closely related. Maybe money can not change everything, but money can certainly ruin everything. It makes one awake at night daytime lethargy, a sense of self-worth devouring, confidence, energy and hope. << >> New York Times poll in 2014 showed that only 64 percent of Americans still believe in the American dream, which is nearly 20 years to the lowest value.


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Traditional Chinese: 難以啟齒:美國中產階級拿不出400美元救急錢


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