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#middleclass

5 posts5 participants1 post today

Eaton's, Marks and Spencer Canada, Target Canada, Zellers, Sears, Kmart, Woolco, Woolworth's, and now HBC. If you think the Middle Class in Canada is doing well, then look around. Collapsing aggregate demand, povertization, immiseration, the rise of the precariat, and monopolies and oligopolies fleecing the public.
#Canada #HudsonBay #economics #retail #MiddleClass #microeconomics #collapse #PrivateEquity #business
nytimes.com/2025/06/01/world/c

Clothes hangers and ladders, all offered for sale, took over part of the men's wear department during the final week of operation of Hudson’s Bay Company store in downtown Ottawa.
The New York Times · Hudson’s Bay Stores to Close in CanadaBy Ian Austen

The #MiddleClass is a phenomenon of #growth.

A #nation that is growing like #China or #India have a growing middle class, and there's nothing abnormal about this.

A nation that is shrinking will have a shrinking middle class, and there's nothing abnormal about this.

It's a problem for a shrinking middle class, because it often happens to a generation that did not #experience the growth, and so they don't know how to cut back and live within their means. This is also #normal.

Continued thread

“Service to your country for many #BlackAmericans is also seen as an entrée into #Middleclass. Whether you only served one enlistment or made it a career, having #military service on one’s résumé or job application was seen as a plus for African Americans whose work ethic & experience were always seemingly in question. The military also provided training & job experience that—especially in the 1950s, ’60s & ’70s—Black Americans were not able to easily obtain in the civilian world.
#Trump #racism

A shocking analysis by the CBO warns that House Republicans' reconciliation package could cut Medicare by over $500 billion. Requested by Rep. Brendan Boyle, the analysis coincides with a hearing on a bill that may hike the deficit by trillions while favoring tax cuts for the wealthy. Boyle argues this proposal jeopardizes essential services, and aligns with former Trump promises to protect Medicare. Click for details on this troubling development. alternet.org/trump-medicare/ #MedicareCuts #RepublicanBudget #CBO #PAYGO #Congress #MiddleClass

Alternet.org · Trump 'lied': Shock as GOP bill would trigger more than $500 billion in Medicare cutsBy Jake Johnson
Continued thread

As it grows it beats the confidence out of the #tax paying #middleclass as it cant cope with #inflation anymore and it starts seeking freebies from the rich with tax breaks and thr gov ,instead of their rights
Basically the very spine to argue about their rights breaks down and thats the backbone of any economic productivity

Continued thread

I'm feeling like no one actually sees my posts or else most don't care

Only those struggling most have been sharing

Those who are #disabled, in #poverty, facing dangers of #racism, #ableism, #sexism, #bigotry

People talk of the #middleclass growing ever smaller

Yet those who are struggling most are increasingly condemned to die

Meanwhile #consumerism continues

A new #Nintendo Switch dropped & I'm sure those who "can't help" will get one

Ah yes, #globalization didn't erode the American middle class – it simply handed them the world's smallest violin and told them to play some #blues instead 🎻. The article boldly declares #protectionism a myth, because clearly the magic of 'reindustrialization' and cheering for Biden and Trump alike is the real solution 🙄.
noahpinion.blog/p/globalizatio #middleclass #reindustrialization #politicalcommentary #HackerNews #ngated

Noahpinion · Globalization did not hollow out the American middle classBy Noah Smith