If you make middle class $ and spend and don't budget you will suffer today. If you make the same ammount of money and save and take care of your self, you should have a great life and minus some horrible situation. The problem is that lots of people who are middle class and rich have the mind set and habits that will lead to poverty, we are just as rich society that buffers them from that.
People can always save money if they just choose to do so. I've worn the same shoes for 5 years and was able to save a lot of money. I always look for the cheapest motels and bought used cars. Learn to live economical.
"Well I suppose over time, thats a possability..." what??? you stupid bitch!!! how helse do you think its done??? no one is gonna hand you the keys to the city if you havent earned them!!! if you work hard, save, save, and save some more, invest, stay off the booze and drugs, dont have kids you cant support, bla bla bla. its there if you want it, but just because you breathe air doesnt mean you're entitled to it!!! get off your ass, make some sacrafices, and get out there and work for it!!!!!!
The "American dream" would be even easier if they did away with subsidies and let the market do it's thing. That people can manage it with today's ridiculous government policies is actually pretty incredible.
I'm a carpet cleaner.... I left socialist England 10 years ago and built a life starting with $200, started my business 4 years ago with $3000, My business is worth $120k.... Why? Because it's a free market. Thank you America and I am a Libertarian.
a major reason why that guy could make it in south carolina is the fact he was single. too many people screw up and have a baby or get married before they're well established. and they would still be stuck working the same job, but now they have more expenses with no room to save
Why should I work hard to move up in the world? They'll take away my welfare checks! We deserve MORE HANDOUTS. It's a basic human right to get everything for FREE!
Adam Shepard lived in a homeless shelter for 2 months. That's a long time. His arrogance is unbelievable. You'd think he would be a little more understanding to people's troubles.
And those ethnic minorities with the dune buggies probably saved up or went into debt.
But the most important aspect. Is to understand that you cannot extrapolate Adam's example. Not everybody is that lucky to get on their feet so quickly. I think it's propaganda. He is a shill for conservatism.
It may be impossible for an American to make it here because they do not have the same hard work ethic as an immigrant... its a totally different upbringing.. This is why immigrants illegal and legal always seem to be working and many become successful business owners..
That book written by Barbara is complete BULLSHIT, if you are poor here in the United States it is you own damm fault for being a lazy fuck. The only exceptions are people with physical disabilites and mental illnesess. She only makes up excuses. THERE ARE NO EXCUSES!!
Somtimes I wonder what is "Making it"? My dad taught me that people don't plan to fail they fail to plan. If you're not willling to plan and sacrifice then please don't complain.
modernmariorc, you sound like the lady in this video. All she was doing is making excuses and whining. The "American Dream" doesn't just happen, you have to work for it and make "Sacrifices" like the kid said. You saying the kid was "strong" and "charming" is just an excuse. Moving furniture was something he chose to do. We live in a country of opportunities, all you have to do is not be a lazy ass that sits at home and watches Opra all day waiting for a government handout.
haha homeless shelter? a woman got raped by an employee there. shelters are full of drunks and heroin addicts and ex cons and you cant get to work if you are in one. this news segment is bs. this white guy had soft skills up the wazoo and he is strong too. he can lift and he is charming. sure you can live for a year on low income, but you cant support kids.
That's why you don't have kids. I manage to pay for my rent and food with a room mate while being a full time student. It's easy if you're not lazy. And I live in a city with high unemployment.
Ehrenreich says the American dream is unattainable, yet by selling millions of books, she has attained it. I just find it ironic that by writing a book about how the American dream is gone she has made the money she says is not there for people like her.
WOW after watching this segment... I feel very optimistic. I am already a cheap person who likes to save money. So when the time comes that there is another recession i hope I have a good decent-paying job.
I just hope that the dollar doesn't collapse. Everything is riding on this. Unfortunately the reality is that I cant find a job.
There has been growth in the middle class but the im sure that revenue to expenses ratio is lower.
1st-thanks for posting this show. I watched all 6 pts. As for this video-I consider myself lower middle class. My husband & I both work-I work part time, but we 'e happy w/ our life. We own a small house worth about $80,000 & we own a 2001 van & a 1999 Mustang & we have 2 kids who dress nicely & have nice things. But we make sacrifices. The problem w/ people is that they expect too much & get disappointed when they don't get it. We expect little & rejoice when we get more than we expected.
that is so bs if it was just hard work alone there be a lot less people living in the urban ghetto areas. from my personal experience i know many people who work a lot harder than most of the managers that they work for. the American Dream does not exist for most people even if they work ten times harder than those who succeed.
This one is tough to swallow. The $25 kid stayed two months in a homeless shelter, essentially living rent free. Someone had to pay for the shelter. He literally took a hand out and lived on someone else's dime in order to save money.
I wish I could do that. Two months rent free?
Is the message: You can make it on America if you "... rely on the kindness of strangers"?
Right. And, let's not forget he is male. Ehrenreich worked mainly in womens' jobs (which are less numerous), so the guy didn't have to deal with discrimination, etc. And although he didn't MENTION his degree, nor did he go after jobs suited to his degree, he still had the benefits of his education to aid him in his resourcefulness, etc. They also fail to mention that the people with the hot cars probably have all those things through SERIOUS debt; vehicles aren't investments.
You didn't have to tell us that you're 17...it is very obvious from what you wrote. Consider these items before you go waving your flag at everyone elses' REAL problems:
--That $1,700 is before taxes.
--You're 17, so (I hope) you don't have children to support.
--You live in your parents' house.
--If you spent your entire career working at McDonald's that $7.25/hr would increase only enough to barely cover the increase of living due to inflation.
while some points about discrimination might be possible you forget that Ehrenreich said her father made it big time so if she failed she could rely on daddies money. face it she chose motels over homeless shelters she squandered more money than hell. also saying that Ehrenreich only worked in female jobs is discrimanatory itslef.
"saying that Ehrenreich only worked in female jobs" I didn't say "only" I said "mainly," and what I said is not discriminatory. She worked for a one company called "Merry Maids," so it's an observation. Try reading what's actually written, not what you wish was written, and you'll find out on your own that you actually have nothing to say.
And try telling the graduating class of Harvard that they should start their careers in the "American Way" by living in homeless shelters.
its alot harder then what stossel points out. the american dream could be alot easier to obtain.. the dollar will soon collapse after whats been happening
I abandoned some of the aspects and characteristics of my minority culture in favor of white American culture and now have a reasonably good paying job. I recently was able to cash in on the lousy housing market and scored a $110,000 house for only $64,700 in a culturally white neighborhood with mixed races that are very considerate of each other. When I realized some of the worst bigots in the country are people of color, it was easy to forget about my minority culture.
... I love Stossel, but he's only about half informed on the economics. That's a half better than nearly every media person or even politician, so I'm not complaining.
And Walmart doesn't offer benefits and is a shitty job compared to corporate jobs average Americans would have held in the 50s.
I think he pretends to be stupid when he asks questions. It's just a way of asking questions in a way that normal Americans. He is perfectly informed, but he can't expect his viewing audience to know what he is talking about if he spoke like informed people.
He plays devil's advocate and some of these viewers just can't grasp that and start insulting him or the show. They 'll assume he doesnt know about economics etc.
We're in for a generation of lower living standards. That supposed standard of living Stossel notes is actually illusionary. It's based on debt, and our standard of livign for nearly 25 years has been subsizided by by debt. True median incomes have not risen in twenty years when adjusted for inflation (as measured the way it was measured before it was doctured by Greenspan and Co.) We truly have seen a shrinking of the middle class, and the gap between the rich and poor has widened.
Yeah but lowered standards of living probably arn't as bad as everyone's making them to be. Smaller houses (as opposed to the god damn McMansions), cheaper cars, less spending on luxury goods. I don't think that the comfortable middle class is going to be living in boxes, it's just that frankly the last generation has lived TOO well, and arn't used to just being comfortable and safe.
Everyone misses the point that Nickel and Dimed isnt just about Ehrenreich, but the *other people* who were not engaging in journalistic ventures but rather living hard lives all around her. The people she met while working on the book were not lazy slack-offs expecting a handout; they were hard-working people not paid what they truly earned due to corporate greed.
Adam Shepard is a tool who totally missed the point of Nickel and Dimed.
It's good to know that if you're white, male, English-speaking, have a college degree, and are structurally advantaged in every other way, you can make it in America! Thanks Stossel. Way to miss the point.
My parents learned english, got a degree, and they started from scratch moving to the states and now we live comfortable in a nice large home and speak english to eachother casually. Yeah..
You're proving my point. The system is normative, and your parents had to adopt the ideology of the dominant class to succeed (i.e. they had to learn english, or whatever). They didn't start out this way. That's how class reproduces itself. Thus, the college guy who already embodies the ideology of the dominant class has the easiest time succeeding.
Alright so my parents had to act like a white, male, english-speaking, college graduate to succeed?
I think its essential for anyone to learn the language of where ever you live if you want to succeed there. Education, no matter what country, is important to gain more skill and opportunity. However, my parents went to college after they reached a comfortable lifestyle so its possible for non-graduates.
What should foreigners or poor folk do in America instead to have a good life?
Seiku:good life is a relative term. As pointed out in the vid-we expect more today. One man's "good life" is another man's poverty. It's all in the perspective. I'd love to have a bigger house, but I like having a low payment. I'd like to have a new car, but I like having no car payment. Not having big debt allows us to buy other things for our kids.
Also-family time is important to us, so we make sacrifices. We're content & feel satisfied, but some would feel poor in our situation.
I started off from a mid class family. With no help from my family I took a classes at a community college, started a small busines (I am type1 diabetic and needed more $ than min wage) I then went to a 4 yr college, then grad school. I had to get student loan for my last yr due to time issues (internship)
In 10 yrs I went from a scared HS grad to a Masters level forensic psych.
Now(another 10 yrs later)I have a very nice home nearly paid off.
that just means we'll suck more of us dry supporting a military that is sucking others dry a world away so we can maintain a truly droll life for the "middle class" that perpetuates this through trying to achieve something that is vacuuous
The core of his argument in this last segment is sound. He should have asked all those folks what their debt to income ratios are. It would realign how well they are doing. This last segment is the weakest, but the core argument is very valid. Work hard; live within your means; succeed.
We can't assume they have a heavy debt load. Yes, they are American's, so it's a high probability, but they may have investments, bonuses, ect that we aren't aware of. Plus they only focused on the males and their jobs. If their wives work their income is more like 120k+. They can also assume a higher debt now, and pay it off once the money sucking kids move out. lol
When I graduated college, I was "poor" for five years but I didn't think of myself that way...perhaps that's why I didn't stay that way. I steadily migrated from the 10th percentile to the 90+ percentile but it took many years of...hard work...smart work...passionate work. Combine those three and give it some time and you will succeed.
This last section is some real BS - it's like saying the middle class is sustain-ably better off, because these dumb asses are living above their means (spending 150 K on dune buggies etc)... yeah, check in with them in several years, how's that debt going to be for them then?
For the middle class, that life is not sustainable!
That is how these middle class people are able to "buy" 4-wheelers and dune buggy's for recreations pleasure! He mentions this nowhere in the report. The average American is somthing like 15k in credit card debt alone!
This does not even count mortgage debt and other debt (car, boat, furniture).
You are so right; this country is for now controlled by the ultra rich Washington power base (i.e. banking, health insurance, pharmaceutical companies, big oil and so on) and they keep power by dividing the working class and keeping them in debt. Some people may disagree but I feel we need more labor unions or some other way to organize the working class. Our vote is the only way to have any push back against their lobbying money.
@LeftLiberalSoCal: You have absolutely no idea whether or not any of these individuals in the video are in debt.
For one thing, your facts are wrong, it's $8-10,000, which isn't that much. Second of all, it doesn't change the point presented in this video. Being in debt doesn't mean you're unable to take care of yourself, it just means you spend money on things you typically don't need and you're bad at managing money. That's not the economy's fault.
It doesn't even mean you're bad at managing money. Because of the system in place, debt is seen as "good" as long as it's only a percentage of your income. You can't get a good mortgage without a good credit score. They said the average middle class American makes 79,000/yr. That's 6,583$/month, or 1,519/wk. I dont know about you, but my bills come to 700$/month (i dont drive). If I made that much a year, I'd be able to do all that and more every year. I'd have over 70,000$ extra each year.
Boo Hoo. It takes hard work and sacrifice and patience to succeed.
When I went to grad school I had to pay my own way the first year, borrow money, really impress the graduate committee with perfect grades, and recommendations because my undergrad GPA wasn't perfect.. See, I worked through college and went to a top school for a scientific major without immediate gratification. When I went somewhere else for a Master's though I blew them away, got paid to teach, and will graduate this summer
And btw to all of you 'American Dream' doubters... Shepard's story is irrelevant if u want it to be.. the point is Nickel and Dimed is full of garbage. The lady wanted to fail, and paints a highly distorted image of achieving success. For the most part we live in a meritocracy. Those who remain uneducated and lazy will fail. Those who work hard and seek to expand their professional abilties are MUCH MORE LIKELY to succeed. There are always exceptions, but by and large the smartest advance.
Whoa you son of a bitch, don't associate this kid with Hitler because you have some sort of obsession with how he looks. He didn't use his college degree in any way for his "experiment" and was able to make a decent living.
I am a white guy making 8 dollars an hour and attend college with no student loans or help from family whatsoever. But I'm not a whiny bitch about it, I'm getting a college degree, not because I'm pretty and white. I work damn hard toiling in the sun and scrape by.
they just showed a hispanic male who started as a low level refinery worker who now makes a good living. ethnicity makes no difference if you work hard and are good at what you do. Nobody is a victim in the the modern USA.
Stop this racial class warfare that liberals wage against the american people. We are amercan, not specifically white, black, yellow, or any other color. The truth is most people in this country are all afforded the same opportunities.
the American dollar is worth 99.97% less than the bank notes used in 1777
keep pretending that the new world order is not real
keep pretending that martial law and passport revoking is not coming
keep thinking that the north American union is just a myth
your time is soon at an end, people like you that think Americas going to carry on when its 54 trillion in debt including social security, domestic, military, corporate, and federal debt is added up.
Thank you for the comment we are all AMERICANs my husband is the refinery worker he came to this country knowing no english nor did his parents. Since then his parents have learned and he worked his way up the work ladder and now makes good money. he worked very hard and was dedicated never once complained about working on Christmas just explained to my girls he had to work it to put a roof over there head and to buy the things we wanted. I am glad someone sees eye to eye.
The long term viability of all middle class jobs union and non-union are in danger. We as middle class workers need to organize in some way. We need to have some push back for the downward pressure the ultra rich power base is putting on the workers. We need a organize work force so we have some political power to turn back the one sided trade policies. We have no chance in hell to be completive with Chinese workers that make $35 a month on average.
The free market (or as I see it the free to go one way market) is killing the golden goose for short term gains; our economy is built on a house of cards. Its not working and it is falling apart, wake up people we lost 1.2 million jobs just in 2008 and 16 million since 2000, union and non union. How do you replace those jobs? Please dont tell me high tech; 16 million high tech jobs, I dont see it happening.
The guy with the 3 kids and ATVs that spend $1k when they go out said, I just "work a little harder".....doesn't sound lazy to me. As for Walmart, I can tell you what I see in our town. WM is a huge employer. They makes things more affordable, people are able to stretch their dollars. It forces retailers to be competitive in some way, by cost of product or services. Remove Walmart here and a lot of people hurt. There are WM haters here, let them pay more - they must be able to afford it.
No, but I can't imagine Wal-Mart is the only one getting them. And what are the subsidies for? I can't give you a blanket answer without knowing the facts.
way wrong. americans are some of the most hard working people there are. It comes from capitalism. Socialism makes for lazy people. why work harder when it doesn't get you anything?
great peice,.. I always though John Stossel was more of a joker news reporter but he hammered out some good hard questions. I am very happy with this report.
Unfortunately it doesn't work because in reality most people in America are lazy whiners who love their luxury. Adam said so himself, she didn't succeed because she didn't sacrifice, and this is true for most Americans
You don't need this video to tell you it can be done with sacrifice. It's just common sense, why do you think there are so many immigrants in the first place
They don't steal jobs, they get it because most people won't sacrifice to get it done
He stayed in homeless shelter for 2 months and then he was moving furniture for $8/hour and you think he just got given a job because he was good looking?
I'm just saying this guy didn't succeed because of genetics. He sacrificed to succeed and that is clear by the fact that he lived in a homeless shelter and was moving furniture for a living. No one handed him anything because of his good looks.
All that can be extrapolated from your gold facts sirellyn is that the price of gold per ounce has gone up considerably since the 1950's. Our quality of life has gone up every generation, and the middle class around the world continues to expand. Capitalism works, however cyclical it may be.
Anybody who watches that little kid hapily bouncing across the desert on her four-wheeler has to know that things aren't as bad as our Elect Officials want us to think that it is.
But, of course, unless we believe the worst, we won't let the politicians run our lives.
Life is getting better, DESPITE the government, not because of it. If not for hearing all of the bad news, most of us wouldn't know that there is any bad news.
The liberals have to convince you that you can't make it by your own means. You need a savior and his name is Obama. Without him it's impossible to become anything. The nanny state, liberal utopia. Where you're totally dependent on the government.
In 1950, the middle class family income went from...
Thats BS. First of all, FAMILY income. Your whole FAMILY that didn't work before now has to work. Given that average wages in 1950 were $2992, and say $48,000 in 2007 (single person) You could buy;
74 oz of gold in 1950.
57.6 oz of gold in 2007
Not to mention gold has been manipulated downwards. Many are saying it's worth twice what it's listed.
Use google, break out an excel sheet and do the quick math yourself.
Sirellyn ure economic analysis is absurd. Ure putting the avg purchasing power of a middle class person in terms of ounces of gold. Our purchasing power (CPI) is based a the 'basket of necessary goods' NOT gold. Not 2 mention that the expansion of financial makrets makes gold more accesable (greater demand puts an upward pressure on prices).Those who say its worth 2x as much? They're SPECULATING that our excessive dollar printing will cause investors to flee to gold to hedge against inflation.
Don't use gold if you don't like it. Use eggs, or milk, or oil, or bananas or even big macs to measure. You'll find the results very similar. But use that same thing.
CPI is based on a ever-changing basket of goods. Have you seriously looked at how they calculate CPI? Products are constantly substituted. I've been keep spreadsheets of my own over the last 3 years now. Exactly the same items. And I've used 100 or so. The government CPI is WAY the heck off.
The economy regulates itself when it's value and productivity is determined by hard working people in our own industries and agricultures.The quality of living of the middle class may go up and down at times.But when it's natural ingenuity is influenced by limitless monetary spending by central banks (We've all heard this from Ron Paul) it robs and makes absolutely null and void the blood, sweat and tears of honest laborours.And that is the REAL reason for all the talk about economic "crisis".
Our government has allowed rich private bankers to take the economy that hard working citizens helped found and effectively destroy it's value by printing sickening amounts of paper currency to inflate it and then to rob us in broad daylight with "bailouts" & "economic stimulus" packages.Which are nothing more than horrendous crimes cloaked under the guise of salvaging an imploded market.
And right NOW taxpayers eyes are opening, they are looking around and wondering....where exactly did ALL that money go??? (Besides the bonuses that congress has been examining.)
I've worked jobs that paid around 2 thou a month after taxes. But I stay with my family, where everyone contributes and with live within our means. My sister is about to work at a pharmacy, about to make some serious money - she ain't getting her own place yet.
Roommates can definitely shave your expenses, and if you're discplined enough, you can definitely save up for even 10 bucks an hour. Many immigrants already do this. Drink coffee from home, and don't abuse the credit card.
All the people they interviewed they didnt ask them how much they make a year. Some machinists make $20+ an hour. The income has gone up 3x, but college, health care, and houses have gone up WAY more.
I have been at homedepot for almost 8 years and make around 17k a year before taxes. My dad was a machinist at ESCO and made $10.50 an hour in 1984.
25% of americans make less then 19k a year.
The top 5.9% of americans make 1/3 of all the income in the US.
this was a great presentation. Was a mix of good and bad, and gives an interesting side to the way things are in the States (and some of that can be reflected to here in canada).
And degrees aren't a guarantee for success at all. There is rarely a job I come across that requires a degree that doesn't require experience experience as well.
A smart man like John Stossel should know better than to quote the government's unemployment numbers. Everyone knows that under Clinton, discouraged workers [over 1 year jobless] were taken out of the numbers, which eliminated millions from being reported. If we counted unemployment like we did during the Great Depression, we'd see that we've entered another one.
If we stop making things (business investment) and refuse to save, we wlll continue down the road of service jobs and consumerism. I don't see how that will make successive gerations more affluent.
walmart, another giant corp that pisses me off.....if we had a true free market capitalistic society, walmart would not even be able to survive and thrive the way it does. People dont realize the amount of subsidies it receives from the gov that comes out of your pockets...billions a year, just to support there system...and the way they treat and pay their employees is another abomination...thats why they can charge the prices they can, but the tax payer always makes up for it one way or another
It's kinda hard to cut taxes from the bottom up in America. The bottom 44 percent of Americans have a net zero income tax liability. Cut welfare altogether, for everyone equally. Isn't that what America is supposed to be about, equality? Why treat the rich or the poor any different?
It doesnt really matter if its inherited; its theirs. The reason that many of the upper class do not pay taxes is because they hire excellent tax attorneys. Replacing the income tax with consumption tax would disable them from cheating on taxes.
What do you mean the upperclass doesn't pay taxes? The wealthiest 1% of Americans account for 40% of the Federal Governments revenue. The bottom 50%? less than 5%. Go look up IRS stats.
And yet 90% of our current upper class wasn't born into the upper class.
Excuse me sir, but where are the Rockefeller's and Carnegie's on the top 100 list, hmmm? If wealth is simply inhereted, surely these men would be on top?
Why do we see only a FRACTION (1/10) of the wealthiest having names we recognize as wealthy families?
Thank you John Stossel, for keeping things in perspective. It's easy for the doom and gloom talk of mainstream media to drown out that old American spirit.
this last segment was bullshit....the standard of living for americans has decreased over decades. The value of our dollar has eroded to pennies, and there is no longer and incentive to save, only consume consume consume, and on credit. This is all phony wealth with no intrinsic value, everything paid for by debt. this is economic slavery to highest degree...the middle class has been getting poorer and poorer, inflation, the cruelest tax of all is a bitch huh?
if you want it and you are willing to work for it you can have it that is my opinion, that lady is only trying to get attention and make money sitting on her butt all day and selling her book full of bs, I know lots of her "1 in a million situation" the president of my company started as a part time cleaner in a bank don't tell me that you can't move up in any company
I'm less then middle class, I only make $8.25 an hour and I drive a very nice car compared to alot of my friends, I wear very expensive sunglasses and I am starting a small cleaning business right now and you want to say I'm not very well off, I'm in the process of saving for other equipment I need which costs over $4500 to say it isn't possible to do well with a job like that is bs, I have never been late on my credit card payments and have no debt whatsoever and on and on and on I could go
Unless, you've walked with John Stossel and seen him not give $1 to a man on the street, yes, you are making this up. You have no clue what Stossel's charitible giving situation is like.
Although Bush is the 1st 8-year President to have the DOW lower when he left office than the day he took office, the price of milk, meat, bread, fruits & vegetables all doubled during his 8 yrs -- not good!
Artificial bubble? No, an artificial bubble would be the Tech bubble that burst towards the end of Clinton's administration. The DIJA under Bush started dropping around 6 months after the Dems took over the House and Senate. Coincidence? I don't think so.
hey buddy, guessed you just missed the artificial housing bubble and credit bubble that has recently imploded in your face which still hasnt reaced its low...yea you can thank the federal reserve for inflating the crap out of the dollar, pyramiding debt, and granted unlimited credit to banks...please dont give me this nonsense of dems vs repubs...these issues go wayyyyyy back....coincidence? i dont think so...
I agree. The CRA began under Clinton and it was been enforced since through Bush, dems and reps. All politicians who haven't spoken out about this are to blame.
You mean the artificial housing bubble brought on by the CRA? Nope. Didn't miss it. As a matter of fact, I"ve mentioned it on a couple of the other segments of B&B.
lol...if you think the CRA played the biggest factor in this, then id advise you to go get your head examined. Go study monetary policy and how the federal reserve truly operates and you will have your answers. HR 1207 needs to get passed
thoughts, expectations, and beliefs create your life. you can see that clearly through this video
creativeElemental 2 months ago
@creativeElemental Very well said!
wisted 2 months ago
If you make middle class $ and spend and don't budget you will suffer today. If you make the same ammount of money and save and take care of your self, you should have a great life and minus some horrible situation. The problem is that lots of people who are middle class and rich have the mind set and habits that will lead to poverty, we are just as rich society that buffers them from that.
EasyEs 3 months ago
@EasyEs Good points EasyEs!
wisted 3 months ago
@wisted Why thank you
EasyEs 3 months ago
It all depends how you save and invest your money
katmancon 5 months ago
People can always save money if they just choose to do so. I've worn the same shoes for 5 years and was able to save a lot of money. I always look for the cheapest motels and bought used cars. Learn to live economical.
jpzxcvbnm 8 months ago 2
these liberal embarrass me i fuking hate them
samantha34ize 8 months ago
"Well I suppose over time, thats a possability..." what??? you stupid bitch!!! how helse do you think its done??? no one is gonna hand you the keys to the city if you havent earned them!!! if you work hard, save, save, and save some more, invest, stay off the booze and drugs, dont have kids you cant support, bla bla bla. its there if you want it, but just because you breathe air doesnt mean you're entitled to it!!! get off your ass, make some sacrafices, and get out there and work for it!!!!!!
prosteelheader 10 months ago 3
The "American dream" would be even easier if they did away with subsidies and let the market do it's thing. That people can manage it with today's ridiculous government policies is actually pretty incredible.
Jotto999 10 months ago
I'm a carpet cleaner.... I left socialist England 10 years ago and built a life starting with $200, started my business 4 years ago with $3000, My business is worth $120k.... Why? Because it's a free market. Thank you America and I am a Libertarian.
TheCarpetG 1 year ago 8
a major reason why that guy could make it in south carolina is the fact he was single. too many people screw up and have a baby or get married before they're well established. and they would still be stuck working the same job, but now they have more expenses with no room to save
loveforthegame31 1 year ago
@loveforthegame31 That's because they're stupid. How hard is it to use a condom?
Drahthaar422 1 year ago
john's got a really great moustache.
thanks~
Lifesucksdie123 1 year ago
You can't make it in America if you're an unreasonable dumbass. Period.
pSychOAtDawn 1 year ago
Why should I work hard to move up in the world? They'll take away my welfare checks! We deserve MORE HANDOUTS. It's a basic human right to get everything for FREE!
publicanimal 1 year ago
John Stossel is an idiot. No, I will not explain.
catsuzuma 1 year ago
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@catsuzuma Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow Meow
kubaniski 1 year ago
@catsuzuma John Stossel does whine a lot.
dutytocareforothers 1 year ago
let me get this straight he proved a white male can succeed in America...Amazing
therealallpro 1 year ago
@therealallpro
you're a racist
branchbros 1 year ago
Adam Shepard lived in a homeless shelter for 2 months. That's a long time. His arrogance is unbelievable. You'd think he would be a little more understanding to people's troubles.
And those ethnic minorities with the dune buggies probably saved up or went into debt.
But the most important aspect. Is to understand that you cannot extrapolate Adam's example. Not everybody is that lucky to get on their feet so quickly. I think it's propaganda. He is a shill for conservatism.
dutytocareforothers 1 year ago
It may be impossible for an American to make it here because they do not have the same hard work ethic as an immigrant... its a totally different upbringing.. This is why immigrants illegal and legal always seem to be working and many become successful business owners..
linkspider 1 year ago
That book written by Barbara is complete BULLSHIT, if you are poor here in the United States it is you own damm fault for being a lazy fuck. The only exceptions are people with physical disabilites and mental illnesess. She only makes up excuses. THERE ARE NO EXCUSES!!
laetrille 1 year ago
Somtimes I wonder what is "Making it"? My dad taught me that people don't plan to fail they fail to plan. If you're not willling to plan and sacrifice then please don't complain.
Zeeroyuy 1 year ago
modernmariorc, you sound like the lady in this video. All she was doing is making excuses and whining. The "American Dream" doesn't just happen, you have to work for it and make "Sacrifices" like the kid said. You saying the kid was "strong" and "charming" is just an excuse. Moving furniture was something he chose to do. We live in a country of opportunities, all you have to do is not be a lazy ass that sits at home and watches Opra all day waiting for a government handout.
Orangeokie7 1 year ago
Who is that Wal-Mart CEO that use to work as an hourly worker? I can't dig up any info on him....
asianmacker 2 years ago
Were you ever to find any info on him?
freelily36 1 year ago
@asianmacker it's wal mart international he's working in china right now as ceo international operation you can watch cnbc wal mart edition by faber
kyotoloto 1 year ago
haha homeless shelter? a woman got raped by an employee there. shelters are full of drunks and heroin addicts and ex cons and you cant get to work if you are in one. this news segment is bs. this white guy had soft skills up the wazoo and he is strong too. he can lift and he is charming. sure you can live for a year on low income, but you cant support kids.
modernmariorc 2 years ago
Ehrenreich would never get raped, she is much too ugly.
mcdonalds411 2 years ago
That's why you don't have kids. I manage to pay for my rent and food with a room mate while being a full time student. It's easy if you're not lazy. And I live in a city with high unemployment.
AshillaBeige 2 years ago
@modernmariorc You sound like a lazy person
laetrille 1 year ago
Ehrenreich says the American dream is unattainable, yet by selling millions of books, she has attained it. I just find it ironic that by writing a book about how the American dream is gone she has made the money she says is not there for people like her.
londawg2869 2 years ago 33
@londawg2869
Reminds me of Aging Hippie Liberal Douche (micheal moore), hates capitalism, although it's made him a millionaire.
-_-
IndividualParties 7 months ago
the only ones who are strugling are the lazy fucks
laetrille 2 years ago 3
This video is not realistic and very biased.
THE1CALLEDJ 2 years ago
Tell me friend, what makes something not biased? Is it even possible since everyone has personal opinions?
JKRoar 2 years ago
the nazi scumbag teaching how to be a little person...
Skyman46 2 years ago
WOW after watching this segment... I feel very optimistic. I am already a cheap person who likes to save money. So when the time comes that there is another recession i hope I have a good decent-paying job.
I just hope that the dollar doesn't collapse. Everything is riding on this. Unfortunately the reality is that I cant find a job.
There has been growth in the middle class but the im sure that revenue to expenses ratio is lower.
BigBoss1991 2 years ago
This has been flagged as spam show
GOD BLESS AMERICA!
papeluso 2 years ago
1st-thanks for posting this show. I watched all 6 pts. As for this video-I consider myself lower middle class. My husband & I both work-I work part time, but we 'e happy w/ our life. We own a small house worth about $80,000 & we own a 2001 van & a 1999 Mustang & we have 2 kids who dress nicely & have nice things. But we make sacrifices. The problem w/ people is that they expect too much & get disappointed when they don't get it. We expect little & rejoice when we get more than we expected.
GenevaPilgrim 2 years ago
that is so bs if it was just hard work alone there be a lot less people living in the urban ghetto areas. from my personal experience i know many people who work a lot harder than most of the managers that they work for. the American Dream does not exist for most people even if they work ten times harder than those who succeed.
deathiswaitin 2 years ago
This one is tough to swallow. The $25 kid stayed two months in a homeless shelter, essentially living rent free. Someone had to pay for the shelter. He literally took a hand out and lived on someone else's dime in order to save money.
I wish I could do that. Two months rent free?
Is the message: You can make it on America if you "... rely on the kindness of strangers"?
jgpenate 2 years ago
I guess you are right. But as long there is kindness here, there will be opportunity for the ones who tries
siggensax 2 years ago 2
@siggensax i dont think the issue is if there is opportunity or not, but how much.
Xenthoid 1 year ago
Right. And, let's not forget he is male. Ehrenreich worked mainly in womens' jobs (which are less numerous), so the guy didn't have to deal with discrimination, etc. And although he didn't MENTION his degree, nor did he go after jobs suited to his degree, he still had the benefits of his education to aid him in his resourcefulness, etc. They also fail to mention that the people with the hot cars probably have all those things through SERIOUS debt; vehicles aren't investments.
jamesharrel 2 years ago
Bullshit I am 17yrs old and i have made 1700 dollars in a month and a half working at mcdonalds for 7.25 an hr and I am not working full time.
laetrille 2 years ago
You didn't have to tell us that you're 17...it is very obvious from what you wrote. Consider these items before you go waving your flag at everyone elses' REAL problems:
--That $1,700 is before taxes.
--You're 17, so (I hope) you don't have children to support.
--You live in your parents' house.
--If you spent your entire career working at McDonald's that $7.25/hr would increase only enough to barely cover the increase of living due to inflation.
Get off the Internet and go do your homework.
jamesharrel 2 years ago
Thats why i will go to college and hopefully get a Doctorate.
laetrille 2 years ago
I wish you luck.
jamesharrel 2 years ago
dont get into the debt trap.
modernmariorc 2 years ago
while some points about discrimination might be possible you forget that Ehrenreich said her father made it big time so if she failed she could rely on daddies money. face it she chose motels over homeless shelters she squandered more money than hell. also saying that Ehrenreich only worked in female jobs is discrimanatory itslef.
iggsta3o5 2 years ago 2
"saying that Ehrenreich only worked in female jobs" I didn't say "only" I said "mainly," and what I said is not discriminatory. She worked for a one company called "Merry Maids," so it's an observation. Try reading what's actually written, not what you wish was written, and you'll find out on your own that you actually have nothing to say.
And try telling the graduating class of Harvard that they should start their careers in the "American Way" by living in homeless shelters.
jamesharrel 2 years ago
Maids make $15 an hour where I live... Just putting that out there.
AshillaBeige 2 years ago
its alot harder then what stossel points out. the american dream could be alot easier to obtain.. the dollar will soon collapse after whats been happening
thelumberjackjohn 2 years ago 20
I abandoned some of the aspects and characteristics of my minority culture in favor of white American culture and now have a reasonably good paying job. I recently was able to cash in on the lousy housing market and scored a $110,000 house for only $64,700 in a culturally white neighborhood with mixed races that are very considerate of each other. When I realized some of the worst bigots in the country are people of color, it was easy to forget about my minority culture.
Vearrow 2 years ago 2
When Stossel said "Now, more bull!" I'm pretty sure he was talking about his own report.
DonJack1776 2 years ago
... I love Stossel, but he's only about half informed on the economics. That's a half better than nearly every media person or even politician, so I'm not complaining.
And Walmart doesn't offer benefits and is a shitty job compared to corporate jobs average Americans would have held in the 50s.
razerfish 2 years ago
I think he pretends to be stupid when he asks questions. It's just a way of asking questions in a way that normal Americans. He is perfectly informed, but he can't expect his viewing audience to know what he is talking about if he spoke like informed people.
frionelhero 2 years ago 2
He plays devil's advocate and some of these viewers just can't grasp that and start insulting him or the show. They 'll assume he doesnt know about economics etc.
Seiku 2 years ago
@Seiku I like John Stossel but he plays devil's advocate in the most irritating manner.
dutytocareforothers 1 year ago
@dutytocareforothers i can agree with that sentiment
Xenthoid 1 year ago
We're in for a generation of lower living standards. That supposed standard of living Stossel notes is actually illusionary. It's based on debt, and our standard of livign for nearly 25 years has been subsizided by by debt. True median incomes have not risen in twenty years when adjusted for inflation (as measured the way it was measured before it was doctured by Greenspan and Co.) We truly have seen a shrinking of the middle class, and the gap between the rich and poor has widened.
razerfish 2 years ago 3
Yeah but lowered standards of living probably arn't as bad as everyone's making them to be. Smaller houses (as opposed to the god damn McMansions), cheaper cars, less spending on luxury goods. I don't think that the comfortable middle class is going to be living in boxes, it's just that frankly the last generation has lived TOO well, and arn't used to just being comfortable and safe.
MrWolf316 2 years ago
Everyone misses the point that Nickel and Dimed isnt just about Ehrenreich, but the *other people* who were not engaging in journalistic ventures but rather living hard lives all around her. The people she met while working on the book were not lazy slack-offs expecting a handout; they were hard-working people not paid what they truly earned due to corporate greed.
Adam Shepard is a tool who totally missed the point of Nickel and Dimed.
Steven2480 2 years ago
It's good to know that if you're white, male, English-speaking, have a college degree, and are structurally advantaged in every other way, you can make it in America! Thanks Stossel. Way to miss the point.
xchontox 2 years ago
My parents learned english, got a degree, and they started from scratch moving to the states and now we live comfortable in a nice large home and speak english to eachother casually. Yeah..
Seiku 2 years ago 2
You're proving my point. The system is normative, and your parents had to adopt the ideology of the dominant class to succeed (i.e. they had to learn english, or whatever). They didn't start out this way. That's how class reproduces itself. Thus, the college guy who already embodies the ideology of the dominant class has the easiest time succeeding.
xchontox 2 years ago
Comment removed
Seiku 2 years ago
Alright so my parents had to act like a white, male, english-speaking, college graduate to succeed?
I think its essential for anyone to learn the language of where ever you live if you want to succeed there. Education, no matter what country, is important to gain more skill and opportunity. However, my parents went to college after they reached a comfortable lifestyle so its possible for non-graduates.
What should foreigners or poor folk do in America instead to have a good life?
Seiku 2 years ago
Seiku:good life is a relative term. As pointed out in the vid-we expect more today. One man's "good life" is another man's poverty. It's all in the perspective. I'd love to have a bigger house, but I like having a low payment. I'd like to have a new car, but I like having no car payment. Not having big debt allows us to buy other things for our kids.
Also-family time is important to us, so we make sacrifices. We're content & feel satisfied, but some would feel poor in our situation.
GenevaPilgrim 2 years ago
Indeed.
Seiku 2 years ago
I started off from a mid class family. With no help from my family I took a classes at a community college, started a small busines (I am type1 diabetic and needed more $ than min wage) I then went to a 4 yr college, then grad school. I had to get student loan for my last yr due to time issues (internship)
In 10 yrs I went from a scared HS grad to a Masters level forensic psych.
Now(another 10 yrs later)I have a very nice home nearly paid off.
With work, the AM dream is alive and well
shananagans5 2 years ago 3
Watch the obama deception and learn the truth about what is going on, buy it or rent but watch it!
stntx04 2 years ago
that just means we'll suck more of us dry supporting a military that is sucking others dry a world away so we can maintain a truly droll life for the "middle class" that perpetuates this through trying to achieve something that is vacuuous
JANXDPDX 2 years ago
The core of his argument in this last segment is sound. He should have asked all those folks what their debt to income ratios are. It would realign how well they are doing. This last segment is the weakest, but the core argument is very valid. Work hard; live within your means; succeed.
taw00 2 years ago 2
We can't assume they have a heavy debt load. Yes, they are American's, so it's a high probability, but they may have investments, bonuses, ect that we aren't aware of. Plus they only focused on the males and their jobs. If their wives work their income is more like 120k+. They can also assume a higher debt now, and pay it off once the money sucking kids move out. lol
bbg5000 2 years ago
Another insightful special from John Stossel. The Scratch Beginnings story was very interesting. Thanks for uploading this!
waste234 2 years ago 2
When I graduated college, I was "poor" for five years but I didn't think of myself that way...perhaps that's why I didn't stay that way. I steadily migrated from the 10th percentile to the 90+ percentile but it took many years of...hard work...smart work...passionate work. Combine those three and give it some time and you will succeed.
matildaz 2 years ago
This last section is some real BS - it's like saying the middle class is sustain-ably better off, because these dumb asses are living above their means (spending 150 K on dune buggies etc)... yeah, check in with them in several years, how's that debt going to be for them then?
For the middle class, that life is not sustainable!
Checker222 2 years ago
DEBT! DEBT! DEBT!
That is how these middle class people are able to "buy" 4-wheelers and dune buggy's for recreations pleasure! He mentions this nowhere in the report. The average American is somthing like 15k in credit card debt alone!
This does not even count mortgage debt and other debt (car, boat, furniture).
All if you have to do is add up the numbers!
LeftLiberalSoCal 2 years ago
LeftLiberalSoCal
You are so right; this country is for now controlled by the ultra rich Washington power base (i.e. banking, health insurance, pharmaceutical companies, big oil and so on) and they keep power by dividing the working class and keeping them in debt. Some people may disagree but I feel we need more labor unions or some other way to organize the working class. Our vote is the only way to have any push back against their lobbying money.
FluxCapacitor2008 2 years ago
@FluxCapacitor2008: No, the country is controlled by the government.
Companies keep individuals in debt? Really? How? They just FORCE them to buy things?
People put themselves in debt, not corporations.
verdantina 2 years ago
@LeftLiberalSoCal: You have absolutely no idea whether or not any of these individuals in the video are in debt.
For one thing, your facts are wrong, it's $8-10,000, which isn't that much. Second of all, it doesn't change the point presented in this video. Being in debt doesn't mean you're unable to take care of yourself, it just means you spend money on things you typically don't need and you're bad at managing money. That's not the economy's fault.
verdantina 2 years ago
It doesn't even mean you're bad at managing money. Because of the system in place, debt is seen as "good" as long as it's only a percentage of your income. You can't get a good mortgage without a good credit score. They said the average middle class American makes 79,000/yr. That's 6,583$/month, or 1,519/wk. I dont know about you, but my bills come to 700$/month (i dont drive). If I made that much a year, I'd be able to do all that and more every year. I'd have over 70,000$ extra each year.
bbg5000 2 years ago
Comment removed
andrewclunn 2 years ago
Boo Hoo. It takes hard work and sacrifice and patience to succeed.
When I went to grad school I had to pay my own way the first year, borrow money, really impress the graduate committee with perfect grades, and recommendations because my undergrad GPA wasn't perfect.. See, I worked through college and went to a top school for a scientific major without immediate gratification. When I went somewhere else for a Master's though I blew them away, got paid to teach, and will graduate this summer
EuphemiseThis 2 years ago
Now if only we could get the FED to stop printing dollars and causing inflation.
anarchylogic 2 years ago 2
And btw to all of you 'American Dream' doubters... Shepard's story is irrelevant if u want it to be.. the point is Nickel and Dimed is full of garbage. The lady wanted to fail, and paints a highly distorted image of achieving success. For the most part we live in a meritocracy. Those who remain uneducated and lazy will fail. Those who work hard and seek to expand their professional abilties are MUCH MORE LIKELY to succeed. There are always exceptions, but by and large the smartest advance.
AgentMikeScott 2 years ago 2
I think from a leftist perspective the human archetype is a half-witted minority who needs to be babied.
fomastephanovitch 2 years ago 5
if you look like ADAM SHEPARD blond, tall, white, educated, privileged, the dream of Hitlers master race then yes the American dream is still alive.
read the book "survival of the prettiest" beautiful white people are 70% more likely to get promoted than a minority.
his experiment is flawed, yes he only had 25$ in his pocket but how many poor people leave their parents house with a privileged college degree.
godscuttingyoudown 2 years ago
Whoa you son of a bitch, don't associate this kid with Hitler because you have some sort of obsession with how he looks. He didn't use his college degree in any way for his "experiment" and was able to make a decent living.
I am a white guy making 8 dollars an hour and attend college with no student loans or help from family whatsoever. But I'm not a whiny bitch about it, I'm getting a college degree, not because I'm pretty and white. I work damn hard toiling in the sun and scrape by.
bigsmallfish 2 years ago
they just showed a hispanic male who started as a low level refinery worker who now makes a good living. ethnicity makes no difference if you work hard and are good at what you do. Nobody is a victim in the the modern USA.
Stop this racial class warfare that liberals wage against the american people. We are amercan, not specifically white, black, yellow, or any other color. The truth is most people in this country are all afforded the same opportunities.
Obscuros8 2 years ago
keep living in lala land
the American dollar is worth 99.97% less than the bank notes used in 1777
keep pretending that the new world order is not real
keep pretending that martial law and passport revoking is not coming
keep thinking that the north American union is just a myth
your time is soon at an end, people like you that think Americas going to carry on when its 54 trillion in debt including social security, domestic, military, corporate, and federal debt is added up.
godscuttingyoudown 2 years ago
Thank you for the comment we are all AMERICANs my husband is the refinery worker he came to this country knowing no english nor did his parents. Since then his parents have learned and he worked his way up the work ladder and now makes good money. he worked very hard and was dedicated never once complained about working on Christmas just explained to my girls he had to work it to put a roof over there head and to buy the things we wanted. I am glad someone sees eye to eye.
Brianaliz11 2 years ago 2
I bet he bought those ATV's with credit. I am middle class and every month I watch my bills go up and my income stay the same.
Cypressmyst 2 years ago
that's because stossel is like Micheal Moore, playing with the facts.
godscuttingyoudown 2 years ago
The long term viability of all middle class jobs union and non-union are in danger. We as middle class workers need to organize in some way. We need to have some push back for the downward pressure the ultra rich power base is putting on the workers. We need a organize work force so we have some political power to turn back the one sided trade policies. We have no chance in hell to be completive with Chinese workers that make $35 a month on average.
FluxCapacitor2008 2 years ago
The free market (or as I see it the free to go one way market) is killing the golden goose for short term gains; our economy is built on a house of cards. Its not working and it is falling apart, wake up people we lost 1.2 million jobs just in 2008 and 16 million since 2000, union and non union. How do you replace those jobs? Please dont tell me high tech; 16 million high tech jobs, I dont see it happening.
FluxCapacitor2008 2 years ago
Er what? The free market has done no such thing. Government intervention however has done EXACTLY what you've said.
You think power is wielded by the government for the weak. How quaint.
logrusmage 2 years ago
americans are just lazy plain and simple . we live in a technology world.
rextony22 2 years ago
The guy with the 3 kids and ATVs that spend $1k when they go out said, I just "work a little harder".....doesn't sound lazy to me. As for Walmart, I can tell you what I see in our town. WM is a huge employer. They makes things more affordable, people are able to stretch their dollars. It forces retailers to be competitive in some way, by cost of product or services. Remove Walmart here and a lot of people hurt. There are WM haters here, let them pay more - they must be able to afford it.
mzm1219 2 years ago
mzm1219
Wal-Mart also gets millions of dollars in taxpayer-funded subsidies. Can you justify that?
JasonQLD 2 years ago
No, but I can't imagine Wal-Mart is the only one getting them. And what are the subsidies for? I can't give you a blanket answer without knowing the facts.
mzm1219 2 years ago
Sounds like the "Free Market" at it's fullest, right?
Doesn't look that way to me...
BTbass 2 years ago
way wrong. americans are some of the most hard working people there are. It comes from capitalism. Socialism makes for lazy people. why work harder when it doesn't get you anything?
rationalCrash 2 years ago
great peice,.. I always though John Stossel was more of a joker news reporter but he hammered out some good hard questions. I am very happy with this report.
teflondon91 2 years ago
they call that a pool at the end?
wow, I can get that at walmart for $50
smartfunbuy 2 years ago
Comment removed
Brianaliz11 2 years ago
This proves Capitalism can work :)
Unfortunately it doesn't work because in reality most people in America are lazy whiners who love their luxury. Adam said so himself, she didn't succeed because she didn't sacrifice, and this is true for most Americans
You don't need this video to tell you it can be done with sacrifice. It's just common sense, why do you think there are so many immigrants in the first place
They don't steal jobs, they get it because most people won't sacrifice to get it done
viperx00 2 years ago 3
Yes,thats great but Adam is a pretty good looking tall young white boy...im sorry i dont buy that totally
volumedealer1 2 years ago
He stayed in homeless shelter for 2 months and then he was moving furniture for $8/hour and you think he just got given a job because he was good looking?
thomasw78 2 years ago 5
Are you retarded?
You're going to get father just cause of your genetics.
Can you get by sure,you would have to handle a lot to go to a homeless shelter.
volumedealer1 2 years ago
wtf are you talking about
thomasw78 2 years ago
Im sorry cannot work past a type-o
Are you retarded?
You're going to get farther just cause of your genetics.
Can you get by sure,you would have to handle a lot to go to a homeless shelter.
volumedealer1 2 years ago
I'm just saying this guy didn't succeed because of genetics. He sacrificed to succeed and that is clear by the fact that he lived in a homeless shelter and was moving furniture for a living. No one handed him anything because of his good looks.
thomasw78 2 years ago 5
All that can be extrapolated from your gold facts sirellyn is that the price of gold per ounce has gone up considerably since the 1950's. Our quality of life has gone up every generation, and the middle class around the world continues to expand. Capitalism works, however cyclical it may be.
AgentMikeScott 2 years ago 3
Anybody who watches that little kid hapily bouncing across the desert on her four-wheeler has to know that things aren't as bad as our Elect Officials want us to think that it is.
But, of course, unless we believe the worst, we won't let the politicians run our lives.
Life is getting better, DESPITE the government, not because of it. If not for hearing all of the bad news, most of us wouldn't know that there is any bad news.
SoloPilot6 2 years ago 2
There's a reason they call it, entry-level
gerkmonster1 2 years ago
The liberals have to convince you that you can't make it by your own means. You need a savior and his name is Obama. Without him it's impossible to become anything. The nanny state, liberal utopia. Where you're totally dependent on the government.
iron1215 2 years ago
great im sure that book is producing tons of liberals
theconservativemind 2 years ago
In 1950, the middle class family income went from...
Thats BS. First of all, FAMILY income. Your whole FAMILY that didn't work before now has to work. Given that average wages in 1950 were $2992, and say $48,000 in 2007 (single person) You could buy;
74 oz of gold in 1950.
57.6 oz of gold in 2007
Not to mention gold has been manipulated downwards. Many are saying it's worth twice what it's listed.
Use google, break out an excel sheet and do the quick math yourself.
sirellyn 2 years ago
Sirellyn ure economic analysis is absurd. Ure putting the avg purchasing power of a middle class person in terms of ounces of gold. Our purchasing power (CPI) is based a the 'basket of necessary goods' NOT gold. Not 2 mention that the expansion of financial makrets makes gold more accesable (greater demand puts an upward pressure on prices).Those who say its worth 2x as much? They're SPECULATING that our excessive dollar printing will cause investors to flee to gold to hedge against inflation.
AgentMikeScott 2 years ago
Don't use gold if you don't like it. Use eggs, or milk, or oil, or bananas or even big macs to measure. You'll find the results very similar. But use that same thing.
CPI is based on a ever-changing basket of goods. Have you seriously looked at how they calculate CPI? Products are constantly substituted. I've been keep spreadsheets of my own over the last 3 years now. Exactly the same items. And I've used 100 or so. The government CPI is WAY the heck off.
Believe what you want to.
sirellyn 2 years ago
The economy regulates itself when it's value and productivity is determined by hard working people in our own industries and agricultures.The quality of living of the middle class may go up and down at times.But when it's natural ingenuity is influenced by limitless monetary spending by central banks (We've all heard this from Ron Paul) it robs and makes absolutely null and void the blood, sweat and tears of honest laborours.And that is the REAL reason for all the talk about economic "crisis".
cowtipper99 2 years ago 3
Our government has allowed rich private bankers to take the economy that hard working citizens helped found and effectively destroy it's value by printing sickening amounts of paper currency to inflate it and then to rob us in broad daylight with "bailouts" & "economic stimulus" packages.Which are nothing more than horrendous crimes cloaked under the guise of salvaging an imploded market.
cowtipper99 2 years ago 3
And right NOW taxpayers eyes are opening, they are looking around and wondering....where exactly did ALL that money go??? (Besides the bonuses that congress has been examining.)
cowtipper99 2 years ago 3
Arthur Brooks made a good point that people's expectations have risen a lot faster than their wealth over generations
andrewh817 2 years ago
I've worked jobs that paid around 2 thou a month after taxes. But I stay with my family, where everyone contributes and with live within our means. My sister is about to work at a pharmacy, about to make some serious money - she ain't getting her own place yet.
Roommates can definitely shave your expenses, and if you're discplined enough, you can definitely save up for even 10 bucks an hour. Many immigrants already do this. Drink coffee from home, and don't abuse the credit card.
j95lee 2 years ago
All the people they interviewed they didnt ask them how much they make a year. Some machinists make $20+ an hour. The income has gone up 3x, but college, health care, and houses have gone up WAY more.
I have been at homedepot for almost 8 years and make around 17k a year before taxes. My dad was a machinist at ESCO and made $10.50 an hour in 1984.
25% of americans make less then 19k a year.
The top 5.9% of americans make 1/3 of all the income in the US.
ilikehwy40 2 years ago
Try managing pools. I got paid over $20000 a year when I was 18.
2ndTreatise 2 years ago
Everyone must watch The Obama Deception!
Learn more about the endgame, watch ENDGAME. All on YouTube.
montrosey 2 years ago
Obviously propaganda but with a lot of facts and truth, but over-exagerated at points.
Disneyworld99 2 years ago
Nice Sand car!
kwmount 2 years ago
great show, thanks for posting
HarryNRubin 2 years ago
this was a great presentation. Was a mix of good and bad, and gives an interesting side to the way things are in the States (and some of that can be reflected to here in canada).
spiderweb20 2 years ago
So when do we stop telling students that degrees are absolutely necessary for casual adult living?
Efferts 2 years ago 3
And degrees aren't a guarantee for success at all. There is rarely a job I come across that requires a degree that doesn't require experience experience as well.
Scott89878 2 years ago
Good job Stossel!
rambo26 2 years ago 4
I think Stossel should have been the moderator at all the presidential debates
huckbeduck 2 years ago 13
thanks for posting these vids
billtblackman 2 years ago
A smart man like John Stossel should know better than to quote the government's unemployment numbers. Everyone knows that under Clinton, discouraged workers [over 1 year jobless] were taken out of the numbers, which eliminated millions from being reported. If we counted unemployment like we did during the Great Depression, we'd see that we've entered another one.
joespoon04 2 years ago
If we stop making things (business investment) and refuse to save, we wlll continue down the road of service jobs and consumerism. I don't see how that will make successive gerations more affluent.
seminar7 2 years ago
Thank you Mr Stossel and Mr Carey.
This is a much needed TV show - please spread it around folks.
cowbot2 2 years ago 2
That lady is a fucking socialist tool... on the order of a Micheal Moore or a James Taggert.
She's on TV all the time w/ a best selling book. Yep! Can't get ahead can you!
liquidflorian 2 years ago
walmart, another giant corp that pisses me off.....if we had a true free market capitalistic society, walmart would not even be able to survive and thrive the way it does. People dont realize the amount of subsidies it receives from the gov that comes out of your pockets...billions a year, just to support there system...and the way they treat and pay their employees is another abomination...thats why they can charge the prices they can, but the tax payer always makes up for it one way or another
gsrxx420xx 2 years ago
gsrxx420xx
I couldn't agree more, from here in Australia I don't get why Americans allow Wal-Mart to collect taxpayer-funded subsidies every year.
Cut taxes from the bottom up, cut welfare from the top down.
JasonQLD 2 years ago
It's kinda hard to cut taxes from the bottom up in America. The bottom 44 percent of Americans have a net zero income tax liability. Cut welfare altogether, for everyone equally. Isn't that what America is supposed to be about, equality? Why treat the rich or the poor any different?
johnebii 2 years ago 2
johnebii
Why treat the rich or the poor any different? Because the rich have more money, and a lot of it was not earned, but merely inherited.
For some strange reason Americans think that anyone who's rich started out with nothing and earned every dollar themselves. Nonsense.
I would encourage you to watch the documentary Born Rich on YouTube. It will shatter any beliefs you may have about meritocracy in America.
JasonQLD 2 years ago
It doesnt really matter if its inherited; its theirs. The reason that many of the upper class do not pay taxes is because they hire excellent tax attorneys. Replacing the income tax with consumption tax would disable them from cheating on taxes.
grahamcrackerlvr4578 2 years ago
What do you mean the upperclass doesn't pay taxes? The wealthiest 1% of Americans account for 40% of the Federal Governments revenue. The bottom 50%? less than 5%. Go look up IRS stats.
AgentMikeScott 2 years ago
And yet 90% of our current upper class wasn't born into the upper class.
Excuse me sir, but where are the Rockefeller's and Carnegie's on the top 100 list, hmmm? If wealth is simply inhereted, surely these men would be on top?
Why do we see only a FRACTION (1/10) of the wealthiest having names we recognize as wealthy families?
logrusmage 2 years ago
Thank you John Stossel, for keeping things in perspective. It's easy for the doom and gloom talk of mainstream media to drown out that old American spirit.
l337cyclist 2 years ago
this last segment was bullshit....the standard of living for americans has decreased over decades. The value of our dollar has eroded to pennies, and there is no longer and incentive to save, only consume consume consume, and on credit. This is all phony wealth with no intrinsic value, everything paid for by debt. this is economic slavery to highest degree...the middle class has been getting poorer and poorer, inflation, the cruelest tax of all is a bitch huh?
gsrxx420xx 2 years ago
Adam is so friggin hot
kthankxbye 2 years ago
if you want it and you are willing to work for it you can have it that is my opinion, that lady is only trying to get attention and make money sitting on her butt all day and selling her book full of bs, I know lots of her "1 in a million situation" the president of my company started as a part time cleaner in a bank don't tell me that you can't move up in any company
cumminsturbofan101 2 years ago
I'm less then middle class, I only make $8.25 an hour and I drive a very nice car compared to alot of my friends, I wear very expensive sunglasses and I am starting a small cleaning business right now and you want to say I'm not very well off, I'm in the process of saving for other equipment I need which costs over $4500 to say it isn't possible to do well with a job like that is bs, I have never been late on my credit card payments and have no debt whatsoever and on and on and on I could go
cumminsturbofan101 2 years ago
When I see videos by John Stossel I'm reminded of the story Jesus told about THE GOOD SAMARITAN.
John Stossel screams out:
"I'm not the Good Samaritan!
I'm the Levite!
I'm the Levite who turned his head the other way & walked on by!"
John Stossel wouldn't give even an amount as small as even $1 to a man on the street!
I'm not making this up!
DillonX 2 years ago
Unless, you've walked with John Stossel and seen him not give $1 to a man on the street, yes, you are making this up. You have no clue what Stossel's charitible giving situation is like.
EatPez 2 years ago
Although Bush is the 1st 8-year President to have the DOW lower when he left office than the day he took office, the price of milk, meat, bread, fruits & vegetables all doubled during his 8 yrs -- not good!
DillonX 2 years ago
The economy tanked due to government interference, not just Bush but all of the corrupt politicians the morons vote into office.
antimarxism 2 years ago
absolutely, central economic planning does not work...their only responsibility is to enforce contracts and penalize frauds, and that is it....
gsrxx420xx 2 years ago
He's also the 1st President to have the DIJA peak at over 14K+ pts.
Stryder46 2 years ago
Comment removed
gsrxx420xx 2 years ago
yea an artificial bubble that popped nicely huh??
gsrxx420xx 2 years ago
Artificial bubble? No, an artificial bubble would be the Tech bubble that burst towards the end of Clinton's administration. The DIJA under Bush started dropping around 6 months after the Dems took over the House and Senate. Coincidence? I don't think so.
Stryder46 2 years ago
hey buddy, guessed you just missed the artificial housing bubble and credit bubble that has recently imploded in your face which still hasnt reaced its low...yea you can thank the federal reserve for inflating the crap out of the dollar, pyramiding debt, and granted unlimited credit to banks...please dont give me this nonsense of dems vs repubs...these issues go wayyyyyy back....coincidence? i dont think so...
gsrxx420xx 2 years ago
ps, i am also not a fan of dems, but that is besides the issue...
gsrxx420xx 2 years ago
I agree. The CRA began under Clinton and it was been enforced since through Bush, dems and reps. All politicians who haven't spoken out about this are to blame.
antimarxism 2 years ago
Actually, it began under Carter and Clinton loosened the regulations even more.
Stryder46 2 years ago
You mean the artificial housing bubble brought on by the CRA? Nope. Didn't miss it. As a matter of fact, I"ve mentioned it on a couple of the other segments of B&B.
Stryder46 2 years ago
lol...if you think the CRA played the biggest factor in this, then id advise you to go get your head examined. Go study monetary policy and how the federal reserve truly operates and you will have your answers. HR 1207 needs to get passed
gsrxx420xx 2 years ago