This is pretty startling, especially the statistic that a quarter of the 100k-150k households couldn't come up with two grand in an emergency.I define abject poverty as lacking shelter and sufficient food to stave off hunger. By this simple measure, abject poverty is rising in the U.S. even as Wall Street pockets billions in bonuses, the government squanders $2 billion a day in Afghanistan and trillions more on toxic mortgage securities and other bailouts of the Power Elites. ...
The reality is better captured by this item from BusinessWeek's December 16 issue:Almost half (46%) of 2,148 consumers surveyed recently said they weren't confident they could come up with $2,000 within a month in a crisis--from savings, family, friends, credit cards or other sources.
Even among those earning $100,000 to $149,000 a year. almost 25% doubted they could raise it, according to the survey conducted by research firm TNS with academics from Harvard Business School and Dartmouth College. "We wanted to know if people could fix a broken car or furnace," says Harvard finance professor Peter Tufano, who adds that most studies he has seen measure "how much cash people have... not how much they can access." ...
.Let's follow the idea that 25% of households earning $100,000+ can't lay their hands on a meager $2,000. First off, only about 20% of households earn above $100K. Most households make do on a sum closer to the national median of $46,000. --snip--
Or it may just be that the majority of Americans are essentially one paycheck or unemployment check away from homelessness and hunger, and thus the social networks of most households are populated by others in the same general economic situation.
http://www.oftwominds.com/blogdec09/poverty12-09.html
What this means is that literally half of this nation is in really deep trouble if their car breaks down, or they need a root canal, the furnace goes on the fritz, you name it. No wonder everything is just in time delivery and so few people stock up on food -- they can't afford to plan any further than the next paycheck.