Friday's report showed that 58.7% of the civilian adult population of 245 million was working last month, i.e., that 144 million Americans had jobs. Only 116 million were working full-time, however. Thus, according to the data only 47% of adult Americans have a full-time job.
Further, the number of jobs added last month was such that the growth in jobs is not keeping up with new entries into the labor force, the data ignores the shit nature of many of these jobs (and the shit nature of many of the 116 million full-time jobs overall) as low wage, low benefit positions, and the jobs that have been and are in the process of being shipped overseas will never come back.
Finally, the Fed will inevitably ease off the quantitative pedal in the not too distant future, probably depressing home values and markets as a result*, meaning smaller retirement accounts and less home equity for many Americans, generating a negative wealth effect which will lower demand (spending) and thus lead to more layoffs.
The wealthy will always have strategies uniquely available to them for protecting their wealth and well-being, and the poor will likely remain on the government dole due to their being a significant and increasingly large constituent of a certain political party that is likely to be in power for quite a while (since social retards conservatives are busy destroying the alternative from within), plus the fact that bribing them is a way for the government to legitimize capitalism in their eyes and thus avoid social discord, whichever party is in power.
The middle class, meanwhile, has shit and a good chance of being hollowed out. It seems that unless something changes, the country's Thanatos instinct will be in the driver's seat and our empire will erode from within, just as all others have.
God bless you all, and God bless 'Murica.
*If I understand it correctly, the causal chain ought to go as follows: Fed sells off/ceases buying significant amounts of MBS-->MBS prices go down-->MBS interest rates increase-->mortgage rates increase-->home values go down (since home values are supposed to be reflective of discounted future cash flows and an increased mortgage rate increases operating costs and thus reduces future cash flows, the value should go down when mortgage rates go up, ceteris peribus)
