Here's some articles summarizing the class struggle here in the U.S.A.
First, this must-read article by Elizabeth Warren on the withering middle class
American Without a Middle Class
This article from the Financial Times looks at the growing underclass of working poor who are unable to get banking accounts and rely on other expensive alternatives like pawn shops to survive:
Report Reveals Vast Banking "Underclass" in U.S.
According to the article, The FDIC found that some 17m US adults are in households without any bank accounts. Another 43m had accounts but were "underbanked", relying on non-bank services such as pay-day lenders and pawn shops.
The number of underbanked Americans dwarfs the estimated 46m citizens who lack health insurance. Barack Obama has staked his presidency on bringing that group into the system.
The FDIC survey revealed vast racial disparities in access to financial services.
Almost 22 per cent of black households had no bank account compared with 3.3 per cent of white households.
Food Stamp Use Soars, Stigma Fades
DSA Growing Strong!
1 month ago