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Middle-Class Shrinking, But Are We Getting Poorer?

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  • Description

    Author Steve Siebold discusses the change in America’s economic situation.

  • Duration 4:30
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-- along with the Census Bureau pew researchers -- from Charles he's they say America's middle class is shrinking and and and you said the same thing I don't know Erica.

-- I think -- We've always so long Africa that pew as you said that -- says the middle class is shrinking about doesn't mean that more Americans are getting poor.

The percentage of the wealthy actually rose from fourteen to 20%.

Bring in Steve -- -- he's the -- all how rich people think he's joining us from Atlanta.

You know.

This this will this view point of view that the middle class is shrinking.

You've written all about rich people what do you make about point that the middle class is shrinking go.

Why don't think we've gotten to the point where people understand that if they're going to have to do something.

They're gonna have to go out on their own they're gonna have to learn how to sell -- gonna have to learn how to.

Produced and come and be entrepreneurs like the people that built this country but it's coming -- it's coming soon.

Do you believe -- -- do you agree with what we've just been talking about.

That if you look at income it's actually declined.

From the end of the recession to now in fact things of golf and -- us.

Is back that's accurate isn't.

I think it's accurate I and I think it's it's it's -- we're going to we're gonna get to the point where people wake up and realize.

They can't retire on 93000 dollars a network which few came out with -- as you guys know yesterday you know -- they're gonna have to do something they're gonna have to take.

What Charles talks about all the time to either got to take responsibility for their own lives and and their own financial futures and it will happen I really believe it.

Right now you'll book is all about getting -- job allayed by going out on your own take and so risk is that correct.

Absolutely though they knew you cannot be in favor of president Obama's economic policies can.

Now I'm not I I I'm -- make Mitt Romney wins I -- really and I think we all -- in business.

Well what's it gonna take to get his back to an entrepreneurial pro prosperity America on the -- an election change.

I think it's gonna be enough pain I mean I hate to say it but I think we're gonna have to feel enough pain.

-- we realize that I'm 65 years old and and I've got 93000 dollars in the bank I can't live on that I'm gonna be eaten dog food unless -- take control.

And not rely on the government which is not government's job to take Jeremy I've got to go on take care myself I've got to become an entrepreneur I've got -- I guess are getting up at 4 in the morning you know and going to work out for myself and and take control -- future could not rely on government do you think has been a real shift in what America really is and all about how would become far more of an entitlement nation and -- less of an entrepreneurial.

Nation have -- -- we have a hundred million people -- hundred million people 33%.

Of the population is on some -- form of up.

Public welfare and it's -- this is not what built this country.

As you guys know very well no I mean -- we've got to get back to that and I think that we get we're gonna have to feel enough pain until we do you think is going to be.

Some kind of trash.

A postal income postal situation crash and that that's what is gonna take.

I think it's gonna be a wake up I think people were whistling past the graveyard.

You know at this point and we we think we're you know we're gonna -- retire on the money we have the middle class -- and I think there's just absolutely no way I don't think people are running the numbers I don't think they're breaking their calculator out because.

There's no way the numbers work you can't live on 101000 dollars a year okay how do you make your money.

-- native signed him to rich corporations which is what I recommend people do.

You know as you guys know corporate America sitting on 2.5 trillion dollars in cash more more cash more liquid assets and and any of our working -- since 1959.

Corporate -- sitting -- over 500 billion dollars and and in liquid assets and cash.

There are -- corporations are rich and they don't know what to do they are lost because they're in they're they're working an unprecedented.

You know time the so used all the business and sold into a big corporations that we did.

Yes -- do that for sixteen years they have speech -- on mental toughness training for sales teams and and critical thinking what -- values values Charles example Valero Spain for example.

You used -- this freaking business and that and then right sell yourself to the big corporations doing the speaking -- -- right.

Yes -- here and write books exactly.

It very interesting -- -- and we appreciate you being with us what's the -- -- again.

How rich people think.

That's a good one all right thanks for much indeed stable C against and I -- thank you.

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