Economy

I was listening to an economist talking about China’s emerging middle class of 300 million and how they are running China’s economy while 50% of their nation lives in dire poverty, and I realized this is the same ratio we have here in America.

China has 1.3 billion people, 10% of which are the wealthy, 15% who are above the upper middle class, but below the wealthy, and 25% who are this upper middle class. The other 50% are in poverty.

In U.S. terms
10% are earning over a million a year
10% are between the 100K and million mark
30% are in this so called “middle class” that earns above 30K

The rest of us are on the bottom and really don’t matter much.

When I hear news stories about the economy here and how bad it is because of high gas prices and how people are feeling the pinch, I don’t see it translated out in the world, and I think I know why.

The “middle class” and above are not effected by this rise in cost, not really effected.
A good example of this is the lines at the gas station. More gas is being sold now then ever before. There are more gas tankers then I have ever seen. Demand is way up. Stores are jammed. You can rarely find a parking spot anywhere near the stores.

Now people may be buying generic on some items, but they are not shopping less. This middle class that has both people working, they both have cars, some even have 2 cars and a third or fourth vehicle, and the 3 kids all have cars.

In most suburban neighborhoods parking is a real problem. I see many homes with 2 car garages with 3 or 4 cars parked in the driveway. These people have the money to spend for gas, at any cost.

Speaking of cost, I noticed the price per gallon has not gone up even though the price per barrel has risen 10.00. So I’m not sure what to make of that.

Now I know the Dow has gone down, but looking over the long term it’s not really down. Now if it were to drop another 5000 points, then I would say we have a problem, but this only affects the upper class that have stock. The guy making 8 bucks an hour is not affected. Sure they could fire him, but since they are down to only 1 person running most places, that would not be possible.

I went out tonight at midnight to do my grocery shopping, figuring that there would not be anyone on the roads or in the store. I was wrong. On a Sunday night, at midnight, the stores should be empty, the roads should be empty. There not. It makes no sense. Obviously, some people have money to spend.

The night clubs & bars that 3 years ago were closed on Sunday night’s for lack of business are packed. I just don’t understand. And I swear to you that the traffic lights, that a few months ago were green at night unless there was traffic from the side streets, they are on fast red / green cycles, even with no traffic.

Every one of those lights I have to stop for. And the police are out with the radar like never before. I don’t want to sound like a nut, but it seems like they want the poor off the streets and out of the way.