This does not bode well for the fabric of American society…4 in 10 Americans in financial stress in 2013

Greetings,

This does not bode well for the fabric of American society. The people are getting restless and they are pointing fingers towards their government and leaders for their misery and bad fortunes. This has all the makings of civil strife.

This great noise will cause more division as the list of the have nots grow, and those who have grow richer.

 ….”According to radio and television, and according to individual conversation — and according to conversation heard between government officials concerning their problem of trying to find a way to peace for their people — and a way to find stoppage of the fall of their money market and unemployment — and a stoppage to the revolutions between the dissatisfied and the dissatisfied — and to find a way to be able to eat — and to keep the hungry eating from his own labor — pacification is offered but it does not satisfy.”–pg.255(tfoa)

This is the sword within America that’s ripping her apart:

4 in 10 Americans in financial stress in 2013: Government report

Almost four in 10 Americans were suffering financial stress in 2013 and more than a third said they were worse off than they were five years earlier.

Almost four in 10 Americans were suffering financial stress in September 2013 and more than a third said they were worse off than they were five years earlier, a new Federal Reserve report on US household finances showed today.

One-fourth of respondents reported they were “just getting by” financially and another 13 percent said they were struggling to do so, the Fed said. Thirty-four percent were worse off financially than in 2008, 34 percent were about the same, and 30 percent were better off, according to the report.

“The survey found that many households were faring well, but that sizable fractions of the population were at the same time displaying signs of financial stress,” researchers wrote. “For some, perceived credit availability remains low.”

One-third of those who applied for credit were denied or given less credit than they requested, the survey showed. Twenty-four percent reported having education debt of some kind, with an average unpaid balance of $27,840.

The central bank said its Report on the Economic Well-Being of US Households is a snapshot of financial and economic well-being of US households to help monitor their recovery from the recession and “identify perceived risks to their financial stability.” It aimed to gather household data not readily available from other sources.

The report prepared by the Fed Board’s Division of Consumer and Community Affairs collected data from 4,100 respondents in September and October last year on housing and living arrangements, credit access and behavior, education and student loan debt, savings, retirement and health spending. Bloomberg

Click here for reuse options!
Copyright 2014 Hiram's 1555 Blog