Middle-Class Death Watch: As Poverty Spreads, 28 Percent of Americans Fall Out of Middle Class

From Truth Out: http://www.truth-out.org/middle-class-death-watch-poverty-spreads-28-americans-fall-out-middle-class/1316275699

by: David DeGraw, Amped Status
Saturday 17 September 2011

Middle-Class Americans Often Fall Down Economic Ladder: Study – nearly a third of Americans who were part of the middle class have fallen out of it

“The promise of the American dream has given many hope that they themselves could one day rise up the economic ladder. But according to a study released those already in financially-stable circumstances should fear falling down a few rungs too. The study…  found that nearly a third of Americans who were part of the middle class as teenagers in the 1970s have fallen out of it as adults…  its findings suggest the relative ease with which people in the U.S. can end up in low-income, low-opportunity lifestyles — even if they started out with a number of advantages. Though the American middle class has been repeatedly invoked as a key factor in any economic turnaround, numerous reports have suggested that the middle class enjoys less existential security than it did a generation ago, thanks to stagnating incomes and the decline of the industrial sector.”

Downward Mobility from the Middle Class: Waking Up from the American Dream

“The idea that children will grow up to be better off than their parents is a central component of the American Dream, and sustains American optimism. However, Downward Mobility from the Middle Class: Waking up from the American Dream finds that a middle-class upbringing does not guarantee the same status over the course of a lifetime. A third of Americans raised in the middle class—defined here as those between the 30th and 70th percentiles of the income distribution—fall out of the middle as adults.”

Continue reading at:  http://www.truth-out.org/middle-class-death-watch-poverty-spreads-28-americans-fall-out-middle-class/1316275699

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Wall Street May Be Blocked Off Again as Police Monitor Protests

From Bloomberg Business Week: http://news.businessweek.com/article.asp?documentKey=1376-LRQEAC1A74E901-077URSBAUQIFGNBO0RHC0J96AS

September 19, 2011

Sept. 19 (Bloomberg) — New York City police may limit access to Wall Street for a third day, requiring workers and residents to show identification, after a weekend of protests targeting financial firms.

The arrangements, including the identification requirement, “will be re-assessed” this morning, Paul Browne, a police spokesman, said in an e-mail.

About 300 to 400 people demonstrated near Chase Manhattan Plaza yesterday, down from 1,000 on Sept. 17, for a protest dubbed “#OccupyWallStreet.” A smaller group, followed by a column of police motorcycles, marched uptown on Broadway as people beat drums, strummed guitars and held up signs reading “end corporate welfare” and “we are too big to fail.”

The demonstration aims to get President Barack Obama to establish a commission to end “the influence money has over our representatives in Washington,” according to the website of Adbusters, a group promoting the demonstration that asked protesters to occupy Wall Street “for a few months.”

“People have a right to protest, and if they want to protest, we’ll be happy to make sure they have locations to do it,” New York City Mayor Michael Bloomberg said Sept. 15 at a press conference. “As long as they do it where other people’s rights are respected, this is the place where people can speak their minds, and that’s what makes New York, New York.”

Continue reading at:  http://news.businessweek.com/article.asp?documentKey=1376-LRQEAC1A74E901-077URSBAUQIFGNBO0RHC0J96AS

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Occupy Wall Street US Day of Rage

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