Our Culture will Collapse by 2030. (26)

When I was seventeen, in 1955, my dad, working at Lockheed Aircraft, as an Upholstery Trimmer, was able to buy a modest 3 Br. house in Glendale, with a rental in the back for $12,500, 4 — 5 times his annual salary, while mom ran the household for the four of us. They had a paid for ‘52 Chevy, and no debts. I bought a 1951 Lincoln Coupe Lido for cash earned from three years of work on my Summer jobs. I’m telling you this to compare it to today. A blue collar job today pays about $37,400. ($18 hr.) A comparable 3 Br. house in the greater L. A. area is in the $800,000 -$900,000 range. A 3 year old Chevy, $20,000. -$30,000. I can’t even guess what a teenager could save at an $8.00 an hour Summer job. So, back to the subject of why our culture is collapsing by 2030, something got out of whack. A shift in the relationship wages had to the cost of what we buy with them occurred. It’s no longer possible to do what my dad did, as a sole provider for a family of four, on his blue colar factory worker’s pay. The next economic down turn, if it’s a mild one, will raise unemployment a bit. Our unemployment averages today are at a 65 year low of 3.8%, up slightly from last July’s 3.5%. Raising the rate from 3.8% to 6% — 10.5% is 3.7 million to 13.9 million more unemployed workers, varying by state. The unemployment benefits paid to unemployed workers varies from state to state, but at best equals from 40 to 30% of their former wages. Supplemental payments from the Fed are unlikely this time. The increased numbers of unemployed will seriously affect home owner’s payment delinquencies and renter payments alike. An estimated 80% of wage earners have less than 1 paycheck in savings. About 5 million households were already behind on their mortgages as of June 2023, according Statista Research. <a href="https://medium.com/@janslort/our-culture-will-collapse-by-2030-26-9e01edb4ba7b">Read More</a>