Income Inequality is a Theme that is getting played across the world in developing as well as developed nations.Most of the turmoil in 2011 in the Middle East and the Occupy Wall Street Movement can be attributed to the growing Income Gap between the Have and Have -Nots.The Great Recession in 2008 can also be looked upon as a fallout of this.Gini’s Coefficient which measures the income distribution gap has shown continued deterioration all over the world.The Middle Class is shrinking and growing poor by the day and it is not only the Poor Class that is getting affected.<\/p>\n
The Poor are getting the most affected as Food Prices have increased rapidly.The globalization of agriculture <\/a>is one reason that food prices are going out of hand.Hunger Riots were seen in 2008 and in 2011,expect such movements to continue.The revolution in Egypt was also caused by spiralling prices of wheat .2008 saw a sharp rise in commodity prices everywhere as asset bubbles found their way from commodities like oil,gold etc to food based commodities as well.The sharp increase in food prices has led to massive distress amongst poor population across the world.Riots related to Food Scarcity has been reported across 35 countries which has gone almost unnoticed by the global media.Virtual doubling of food prices in 2008 in a short span of time pushed people living\u00a0 on a day to day basis into starvation.The unrestricted trading of food based derivative contracts had a major role to play in this spurt of prices.With the Lehman Collapse,the Food Prices also collapsed.However the global reflation being practiced by Central Banks is again fueling pressures on Food Prices.High volatility in Commodities which was almost unseen 10 years ago has become the \u201cnew normal\u201d.Its no longer strange to find Oil prices moving 5% on a daily basis.With these commodities being treated more like financial assets rather than critical inputs of daily living,expect more Hunger Riots in the Future.<\/p>\n India<\/strong><\/p>\n Income Inequality in India is quite shocking <\/a>Income Inequality<\/a>\u00a0in India has been rising at an unprecedented rate in the\u00a0 last couple of decades.The opening of the Indian economy has led to even starker levels of income disparity among the very rich and majority of the Indian citizens.The Crushing Income Disparity is seen in the world\u2019s\u00a0most expensive $2 Billion House<\/a>\u00a0set amongst 42% of the world\u2019s hungry children.The latest Forbes report lists 50 Indian Dollar Billionaires with 2 in the Top 10.A 2007 report by the state-run National Commission for Enterprises in the Unorganised Sector (NCEUS) found that 77% of Indians, or 836 million people, lived on less than 20 rupees<\/p>\n USA<\/strong><\/p>\n Once upon a time, the United States had the largest and most vibrant middle class that the world has ever seen.\u00a0 Unfortunately, that is rapidly changing.<\/p>\n #1<\/strong>\u00a0Today, only\u00a055.3 percent<\/a>\u00a0of all Americans between the ages of 16 and 29 have jobs.<\/p>\n #2<\/strong>\u00a0In the United States today, there are 240 million working age people.\u00a0 Only about\u00a0140 million<\/a>\u00a0of them are working.<\/p>\n #3<\/strong>\u00a0According to CareerBuilder,\u00a0only 23 percent<\/a>\u00a0of American companies plan to hire more employees in 2012.<\/p>\n #4<\/strong>\u00a0Since the year 2000,\u00a0the United States has lost 10%<\/a>\u00a0of its middle class jobs.\u00a0 In the year 2000 there were about 72 million middle class jobs in the United States but today there are only about 65 million middle class jobs.<\/p>\n #5<\/strong>\u00a0According to\u00a0the New York Times<\/a>, approximately 100 million Americans are either living in poverty or in “the fretful zone just above it”.<\/p>\n #6<\/strong>\u00a0According to that same article in\u00a0the New York Times<\/a>, 34 percent of all elderly Americans are living in poverty or “near poverty”, and 39 percent of all children in America are living in poverty or “near poverty”.<\/p>\n #7<\/strong>\u00a0In 1984, the median net worth of households led by someone 65 or older was\u00a010 times<\/a>\u00a0larger than the median net worth of households led by someone 35 or younger.\u00a0 Today, the median net worth of households led by someone 65 or older is\u00a047 times<\/a>\u00a0larger than the median net worth of households led by someone 35 or younger.<\/p>\n #8<\/strong>\u00a0Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen\u00a0by about 12 percent<\/a>\u00a0after you adjust for inflation.<\/p>\n #9<\/strong>\u00a0The total value of household real estate in the U.S. has declined from $22.7 trillion in 2006 to\u00a0$16.2 trillion<\/a>\u00a0today.\u00a0 Most of that wealth has been lost by the middle class.<\/p>\n #10<\/strong>\u00a0Many formerly great manufacturing cities are turning into ghost towns.\u00a0 Since 1950, the population of Pittsburgh, Pennsylvania has declined\u00a0by more than 50 percent<\/a>.\u00a0 In Dayton, Ohio\u00a018.9 percent<\/a>\u00a0of all houses now stand empty.<\/p>\n #11<\/strong>\u00a0Since 1971, consumer debt in the United States has increased by a whopping\u00a01700%<\/a>.<\/p>\n #12<\/strong>\u00a0The number of pages of federal tax rules and regulations has increased by18,000%<\/a>\u00a0since 1913.\u00a0 The wealthy know how to avoid taxes, but most of those in the middle class do not.<\/p>\n #13<\/strong>\u00a0The number of Americans that fell\u00a0into poverty<\/a>\u00a0(2.6 million) set a new all-time record last year and\u00a0extreme poverty<\/a>\u00a0(6.7%) is at the highest level ever measured in the United States.<\/p>\n #14<\/strong>\u00a0According to one study, between 1969 and 2009 the median wages earned by American men between the ages of 30 and 50 dropped\u00a0by 27 percent<\/a>\u00a0after you account for inflation.<\/p>\n #15<\/strong>\u00a0According to U.S. Representative Betty Sutton, America has lost an average of\u00a015 manufacturing facilities a day<\/a>\u00a0over the last 10 years.\u00a0 During 2010 it got even worse.\u00a0 Last year, an average of\u00a023 manufacturing facilities a day<\/a>\u00a0shut down in the United States.<\/p>\n #16<\/strong>\u00a0Back in 1980,\u00a0less than 30%<\/a>\u00a0of all jobs in the United States were low income jobs.\u00a0 Today,\u00a0more than 40%<\/a>\u00a0of all jobs in the United States are low income jobs.<\/p>\n #17<\/strong>\u00a0Most Americans are scratching and clawing and doing whatever they can to make a living these days.\u00a0 Half of all American workers now earn\u00a0$505 or less<\/a>\u00a0per week.<\/p>\n #18<\/strong>\u00a0Food prices continue to rise at a very brisk pace.\u00a0 The price of beef is up9.8%<\/a>\u00a0over the past year, the price of eggs is up\u00a010.2%<\/a>\u00a0over the past year and the price of potatoes is up\u00a012%<\/a>\u00a0over the past year.<\/p>\n #19<\/strong>\u00a0Electricity bills in the United States have risen faster than the overall rate of inflation\u00a0for five years in a row<\/a>.<\/p>\n #20<\/strong>\u00a0The average American household will have spent a staggering\u00a0$4,155<\/a>\u00a0on gasoline by the end of 2011.<\/p>\n #21<\/strong>\u00a0If inflation was measured the exact same way that it was measured back in 1980, the rate of inflation in the United States would be\u00a0well over 10 percent<\/a>.<\/p>\n #22<\/strong>\u00a0If the number of Americans considered to be “looking for work” was the same today as it was back in 2007, the “official” unemployment rate put out by the U.S. government would be up to\u00a011 percent<\/a>.<\/p>\n #23<\/strong>\u00a0According to\u00a0the Student Loan Debt Clock<\/a>, total student loan debt in the United States will surpass the 1 trillion dollar mark at some point in 2012.\u00a0 Most of that debt is owed by members of the middle class.<\/p>\n #24<\/strong>\u00a0Incredibly, more than one out of every seven Americans is on food stamps and\u00a0one out of every four<\/a>\u00a0American children is on food stamps at this point.<\/p>\n #25<\/strong>\u00a0Since Barack Obama took office, the number of Americans on food stamps has increased by\u00a014.3 million<\/a>.<\/p>\n #26<\/strong>\u00a0In 2010,\u00a042 percent<\/a>\u00a0of all single mothers in the United States were on food stamps.<\/p>\n #27<\/strong>\u00a0In 1970,\u00a065 percent<\/a>\u00a0of all Americans lived in “middle class neighborhoods”.\u00a0 By 2007, only\u00a044 percent<\/a>\u00a0of all Americans lived in “middle class neighborhoods”.<\/p>\n #28<\/strong>\u00a0According to a recent report produced\u00a0by Pew Charitable Trusts<\/a>, approximately one out of every three Americans that grew up in a middle class household has slipped down the income ladder.<\/p>\n #29<\/strong>\u00a0In the United States today, the wealthiest one percent of all Americans have a greater net worth\u00a0than the bottom 90 percent combined<\/a>.<\/p>\n30 Statistics That Show That The Middle Class Is Dying Right In Front Of Our Eyes As We Enter 2012<\/a><\/h4>\n