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Waging a losing battle »

Posted by: engineer 1 year, 2 months ago

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Sandra Baxter complains she has no money, and in New Jersey she is not alone. Despite living in a state with one of the highest income levels in the country, most families say their earnings cannot keep up with the rising cost of living in New Jersey, according to a poll conducted by Monmouth University and New Jersey Monthly.

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engineer1 year, 2 months ago

Wages are not keeping up with inflation no matter what the government is telling you. Savings rate is negative 1 and credit debt is going up.
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engineer1 year, 2 months ago

One other problem is that the falling price homes does not allow people to borrow against the equity in their homes as they did.
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Radiofreeeuropa1 year, 2 months ago

I live in New Jersey, the cost of living has dramatically increased, wages have not, the industries that were doing ok (construction, real estate) have come to a grinding halt.
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  engineer1 year, 2 months ago
  
  I'm in NJ also and am going through the same problem
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texangelwings1 year, 2 months ago

Thanks engineer!
This is becoming a problem nationwide. My dad warned me about economic troubled time ahead, before he passed away a few years ago! (dad lived through the Great Depression 1929)
More and more people are relying on different charities for food, help with their utilities and rent. Most seniors find it difficult to ask for help. Jobs around here do not pay enough to cover expenses for most people. And prices have been rising for a long time!
And this is suppose to be a "good economy"? I am still trying to figure out for whom the economy is good?

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  engineer1 year, 2 months ago
  
  This is not a good economy unless you are in the top 1%!
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