The current median income of an American household is $46,326. As you can see from the above chart over the past 40 years the top 10 percent of households have seen steady gains (the chart is based on 2003 dollars) while the other 90 percent of our population has seen virtually stagnant growth. That is why most American families may have more money on a nominal level but are actually poorer. What this graph displays is a disappearing of the middle class.
Stagnant wages are also part of the global market landscape. It is hard for American workers to compete with low wage nations yet our insatiable appetite for consumer goods has also led to this downfall. Look at the stock price of Wal-Mart. While the stock market is tanking they are up 14% on the year.
Although many like to beat on the global drum of keeping jobs here in the country, silently Americans are still voting with their pocketbook and buying foreign goods. It is hard to blame the middle class since they are being pinched from every different angle. The economic condition of many reflects this struggling sense of uncertainty.
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