STURVING: America’s Middle-Class Pronounced DEAD!
The mainstream financial press is always ten steps behind the curve. It’s such a contrarian indicator – whatever they love is the next thing to crash, and vice versa. This time, they’ve flipped to the bullish side of the stock market, just when they should be warning that this extended rally is bound for a breather. What they’re neglecting to report is that the economy does not equal the stock market, and that the reality is much gloomier for Main Street America.
Since the top 10% of households control around 84% of the stock market, it won’t be much of a victory for America even if the major indices hit fresh highs; it serves the elite. That’s the main point Pure Blockchain Wealth emphasizes – that the wealth gap is alive and well. Stocks continue to climb, making the rich richer and widening the gap in what was once the world’s most prosperous nation.
Forget about thriving – just surviving is a struggle for millions of Americans, with their total household net worth (assets minus debts) declining in Q4 of 2018 by the largest amount since the Q4 of 2008, when the nation was SINKING into the Great Recession. Unbelievably, American households lost $3.7 trillion in net worth during that quarter – a 3.5% decline.
Meanwhile, the wealthy are doing just fine. The richest 1% of American households own 40% of all household wealth (a share that’s bigger than it has been at any point since at least 1962). The next 9% of families hold an additional 39% of the nation’s household wealth. That leaves just 21% of the country’s net worth to be shared among the remaining 90% of American families. I have no problem with wealth. I have done extremely well myself. What does make me mad is that people don’t have the OPPORTUNITY to change their situation in today’s world.
No matter how we slice the pie, the middle class is going hungry while the corporate elites enjoy an all-you-can-eat feast. It’s a debt-fueled system where 4 out of every 10 adults wouldn’t be able to produce $400 in an emergency, and 25% have nothing saved at all for retirement. Worst of all, the American Dream has become an exclusive club – and you’re not invited.
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The reality is that the middle class is evaporating in America, and the old avenues to wealth have been shut off to hardworking citizens. However, there is an alternative to the established plutocratic monetary system: the blockchain movement and the growing adoption of cryptocurrency are providing a non-fiat solution to America’s inflation and debt quagmire.
Bitcoin, the mothership of all cryptocurrencies, is taxiing down the runway and preparing for liftoff in a basing process that has tested the psychologically significant $4,000 level multiple times:
This chart is standard procedure for asset breakouts: important resistance levels will be tested multiple times before the big move happens. The more the excitement builds, the bigger the move will be – and the history of Bitcoin shows that the big moves are really big.
The charts are signaling what sophisticated investors already know: cryptocurrency adoption is expanding at a record pace. The numbers are indisputable: blockchain spending is projected to grow by almost 89% in 2019, and blockchain investments are expected to reach $2.9 billion this year ($1.1 billion of it coming from the financial sector), and $12.4 billion in 2022.
The movement is in full swing even as I write this. Just today, Invesco, a large U.S.-based investment management company, is launching a blockchain exchange-traded fund (ETF) on the London Stock Exchange. It will be called the Invesco Elwood Global Blockchain ETF, and it will target 48 blockchain technology companies, including Apple, Intel, AMD, CME Group, and Taiwan Semiconductor Manufacturing.
It’s another step forward towards a new economy – one that Main Street can participate in.
The blockchain revolution is inclusive, not turning away people based on their credit score, their financial situation, or their lack of connections. It values contribution, decentralization, and hard work. This is the key to America’s prosperity if it wants to remain a leader in this century as well.
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.Please read our full disclaimer at PureBlockchainWealth.com/