Natasha Bach — Millions of Americans Are One Missed Paycheck Away From Poverty, Report Says

The U.S. economy is booming and unemployment is at a low, but that doesn't paint the whole picture of the financial reality of the average American.
According to a new report from Prosperity Now, millions of Americans are one missed paycheck away from poverty.

The report found that 40% of American households are "liquid asset poor," meaning that they don't have enough money put away to make ends meet at the poverty level should their income be suddenly interrupted. That figure jumps to 57% for households of color.

"It was the best of worlds. It was the worst of worlds."  — Charles Dickens, A Tale of Two Cities.

And the trend is accelerating.

Fortune
Millions of Americans Are One Missed Paycheck Away From Poverty, Report Says

Natasha Bach

David F. Ruccio — Socioeconomic position and health

Apparently, measuring the levels of two molecules—an individual’s C-reactive protein and fibrinogen (as in the charts above)—and matching them against their socioeconomic position starts to reveal the hidden mechanisms connecting social inequality and health. And the missing link turns out to be stress.

Debt is a major cause of stress, and a rent-based economy is based on debt. Poverty is another major cause of stress, as is financial and economic precariousness. As more people join the percariat, stress increases and health declines.

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David F. Ruccio | Professor of Economics, University of Notre Dame