"Worst Is Yet to Come:" Americans' Standard of Living Permanently Changed

I completely agree with him i've been advocating this for years - I also we will begin to see global wages begin to even out in the next 5-10 years

The prices and salaries in this country need to come down. You should be able to earn a minimum wage and be able to go to school or buy a home!!!

I love these guys who show up late and tell us what we already know like it's news. I can picture this same guy talking in the same way about this new invention called the SUV.

The American standard of living was unsustainable. This is a necessary change, just a bummer that it's happening to us instead of our children/grandchildren!

Trask and Tech Ticker at their very best.

Didn't Peter Schiff say something like this 2 years ago?

With so many unemployed it is only a matter of time before we feel a complete change in standard of living across the board. Prepare to have your relatives ask to move in with you.

Here in Southamerica things are not that bad but it seem they could be as all of this gets worse

Though some may not realize it, this could be a good thing. I've lived and worked overseas, and I don't believe the vast differences between "us" and "them" is either viable or good for the soul of a people.

A few days ago I would say that this guy is way off base. Then today I saw someone stop their car to pick up a road kill rabbit. Last year dead deer would rot by the roadside, not any more.

Agree as well. Consumerism is over, people need to seperate necessity v. luxury. Luxury is a thing of the past.

Most of this financial mess could go away very quickly. Just send every American woman, man, and child a check of $2,666 from the stimulus package. By doing this millions of cars, flat panel televisions, Big Macs, shoes, computers, and the list go on and on. A family of six would receive about $16,000, that would be a great help compared to the $2100 the family received last year, which was nothing more than a high-price-fuel rebate.

Agree with phillip a.... I too want to see Americans paid at banana economy wages. It will be good for us all!

this is one of the best videos and the truth about the economic slowdown in US currently. I like the person being interviewed for being honest about how he feels....everyone in the government still is trying to make the american public believe that we have not hit the worst and that we can be saved. And the Gov't is trying to save us by prompting the consumer to spend more when clearly the consumer is not capable so the gov't wants to give the consumer money to spend by borrowing as stated in the video from our enemies. Let the consumer save and let the economy correct itself for at least a year.

Genius Saves!!!

People! These are the elected officials you PUT in office! Next election vote EVERYONE OUT! This all started with NAFTA, our TRADE policies with CHINA and Illegal immigration! Tell your congressman and senators they can put hundreds of thousand AMERICANS back to work by building our southern fence with MEXICO!

I agree. I see American's are going from "American Consumers" to "American Savers". American's need to know how to save. Save via gold or you will be sorry. Good luck all!

Even after Americans rebuild their savings, globalization will continue to exert the downward pressure on wages so... It seems globalization and "free" trade was just a scam to transfer the wealth of hard-working Americans to the 100's millions of "slave" wage laborers in countries like China. Of course, some of the money saved from transferring high pay mfn jobs to China did go to the "slave" wage laborers, but don't kid yourself, most of the differential went straight into the pockets of the capitalist elites. Extreme leveles of wealth disparity led to the 1930's Depression, it appears things are rapidly heading that way again. Thank the elites for impoverishing their working drones.

Yet another stupid Tech Ticker headline - what a continued waste of progammming by Yahoo.

Agree as well. Consumerism is over, people need to seperate necessity v. luxury. Luxury is a thing of the past. The great depression is now really upon us.