the so-called economic tsunami started in the middle 2008. People all said the worst had gone and everything shall be better soon. Well, you might have the same feeling like these optimistic economic analyst if you are in the manufacturing business or in the developing countries.
I believe for most people, everyday when they read the newspaper with the " please, getting better" hope, the reality always turn them down, the unemployment rate is still pushing 10% in US, and the Europe is still struggling, especially Ireland, Greece, Portugal and Span,(Setbacks in Portugal and Ireland Renew Worry on Debt Crisis) you may wonder, didn't Greece just got some billion dollar bailout from IMF like half year ago?! Didn't Portugal and Span said they will resize their social expense or budget in order to reduce their sovereign debt? How come the crisis rise again, how come the banks there are facing nationalizing? Well, I may not be able to give you a statistic analysis or a financial studying report, chart to explain all these, but it's apparently that all the strategy are fail in someways, maybe not completely but in part definitely. The billion dollar rescue plan is simply postponed the problem, but the problem is still there.
Not only the banks is falling, people are facing the serious problem called: basic living level problem, how much you earn every month? Do you feel financially secured? Do you plan to get married and get children? How much shall you earn per year in order to reach the safe net?
According to the report, a single worker needs an income of $30,012 a year — or just above $14 an hour — to cover basic expenses and save for retirement and emergencies. That is close to three times the 2010 national poverty level of $10,830 for a single person, and nearly twice the federal minimum wage of $7.25 an hour.
A single worker with two young children needs an annual income of $57,756, or just over $27 an hour, to attain economic stability, and a family with two working parents and two young children needs to earn $67,920 a year, or about $16 an hour per worker.
That compares with the national poverty level of $22,050 for a family of four. The most recent data from the Census Bureau found that 14.3 percent of Americans were living below the poverty line in 2009.
quote from "Many Jobs Seen as Failing to Meet the Basics"
It's not I am a pessimist, but after read the number above, I wonder how many friends of mine are financially qualified to have a kid or whether they can have a retired life with good quality and no need to worry about their kids or grandkids?
How about you then ?
