The government this week reported the U.S. poverty rate has risen to 15.1%, the highest since 1993, while 22% of children are living below the poverty line. Meanwhile, average median U.S. income fell 2.3% to $49,445, roughly 7% below the 1999 peak and a level not seen since 1996 on an inflation-adjusted basis. (See: As America's Middle Class Shrinks, P&G Adopts "Hourglass" Strategy)
If you think that's bad, just listen to what trend watcher Gerald Celente has to say in the accompanying video.
"Things are going to get much worse," Celente says. "Society is breaking down on every level: socially, economically, politically and it's not just the U.S. It's worldwide."
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