Tech
Why Americans Feel So Poor | CNBC Marathon
CNBC Marathon explores why American workers’ budgets feel so stretched.
The middle class was once a symbol of the American dream. It meant financial security and an opportunity for a better future. But that portrait of the American middle class is quite different today. A survey in 2018 found that a third of middle-income adults don’t have as much as $400 to cover an unexpected expense. And while the middle-class lifestyle grows more expensive and uncertain, it’s also moving beyond the reach of younger generations.
Maybe the cause is related to American workers’ income? When adjusted for inflation, wages have remained virtually unchanged over the last 50 years, with workers today earning just 12 cents more than they did in 1972. And with inflation at its highest since 1971, Americans are feeling the pain of slow wage growth. Two-thirds of American workers said that inflation has outpaced any salary gains made in the past year. But some economists argue that the concept is merely a myth politicians use to promote their careers. So, how real is wage stagnation in America today and what does it mean for American workers?
And CNBC takes a look at why Americans have so much debt. Household debt in America reached $16.15 trillion during the second quarter of 2022. And debt is likely to grow even further due to soaring inflation. 43% of Americans are expected to add even more debt within the next six months. So why are so many Americans in debt today and what impact does it have on the U.S. economy?
Money can be stressful in the U.S. Americans are more worried than ever about money and the economy. In a survey by the American Psychological Association, 87% of Americans said inflation and the rising costs of everyday expenses were causing them stress. Roughly two out of every five U.S. adults said money is negatively impacting their mental health, according to Bankrate. Watch the video above to learn what’s causing this anxiety around money and how Americans can deal with their stress.
CNBC Marathon brings together the best of CNBC’s coverage of American workers’ financial woes.
Chapters:
00:35 Introduction
00:37 Why The Middle-Class Is Disappearing (Published February 2022)
13:20 Why Americans Aren’t Paid Enough (Published July 2022)
27:34 Why Americans Are Drowning In Debt (Published August 2022)
42:01 Why Americans Are So Stressed About Money (Published May 2022)
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Why Americans Feel So Poor | CNBC Marathon
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Meta has launched Muse Spark, its most powerful AI model yet and the first major product from Chief AI Officer Alexandr Wang’s newly formed Meta Superintelligence Lab. The release comes as the company ramps capital expenditures to as much as $135 billion this year, nearly double last year’s spend, raising the stakes for every product that emerges from Wang’s lab. Unlike Meta’s previous open-source Llama models, Muse Spark will be proprietary, with plans to eventually offer paid API access, opening a potential new revenue stream. Meta says larger, more capable models are already in development and that Muse Spark is just the foundation on the road to what Zuckerberg and Wang call “personal superintelligence.” CNBC’s Julia Boorstin explores why this launch is such a big deal for Meta.
Reporter: Julia Boorstin
Produced by: Stephen Desaulniers
Edited by: Andrew Evers
Senior Director of Video: Jeniece Pettitt
Additional Footage: Getty Images, Meta
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
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Why Meta’s New AI Model Is Such A Big Deal
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Job-seeking impostors, including deepfakes, are exploiting the remote work trend, defrauding U.S. companies and potentially threatening U.S. national security, according to experts.
While fraudulent job seekers can originate from anywhere, fake candidates with ties to North Korea have drawn significant headlines in recent months.
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With EV sales faltering and forecasts lowered, automakers are looking for ways to sell the batteries they are making. CNBC’s Robert Ferris breaks down how and why automakers including General Motors and Ford are investing in a new industry.
Producer: Robert Ferris
Editor: Natalie Rice
Animation: Jason Reginato
Senior Managing Producer: Tala Hadavi
Additional footage:Ford, Getty Images, GM, Redwood Materials, Tesla
Additional sources: Benchmark Mineral Intelligence, Carnegie Mellon University, Wood Mackenzie
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to get ahead at work with AI? Sign up for CNBC’s new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to boost your productivity today. Use coupon code EARLYBIRD for 25% off. Offer valid from Jan. 5 to Jan. 19, 2026. Terms apply. Sign up today: https://cnb.cx/4qKBe6H
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Why Automakers Want To Power AI Data Centers
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Over the past decade, TJX Companies has nearly doubled its annual sales, crossing the $50 billion mark in fiscal 2024. Consumers are drawn to T.J. Maxx, Marshalls and HomeGoods for their ability to find name brands at a discount and the treasure hunt-like nature of its shopping experience. Experts credit the brand for destigmatizing the discount shopping. Watch the video to learn how T.J. Maxx won over the American consumer.
Chapters:
0:00 Introduction
1:20 Chapter 1: Consumer perception is key
3:45 Chapter 2: Finding the right product
6:20 Chapter 3: Sustaining growth
Produced and shot by: Ryan Baker
Edited by: Kevin Heinz
Senior Managing Producer: Tala Hadavi
Animation: Jason Reginato, Christina Locopo
Additional Footage: Getty Images
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How T.J. Maxx Disrupted The Retail Industry
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There’s a new bottleneck in the AI chipmaking process that happens almost entirely in Asia right now: advanced packaging. It connects smaller chips together into a larger chip like a GPU, so it can communicate with data centers and more. As Nvidia books the majority of capacity, TSMC prepares to break ground on its first U.S. packaging plants, and Elon Musk taps Intel for ambitious custom chip plans in Texas. CNBC got an exclusive interview with TSMC and toured an Intel packaging plant in Arizona to find out exactly how advanced packaging works and why capacity is ramping up fast.
Chapters:
00:00 – Introduction
2:25 – Rise of advanced packaging
5:57 – From 2D to 3D
10:39 – U.S. packaging capacity
Produced and Shot by: Katie Tarasov
Edited by: Evan Lee Miller
Camera by: Marc Ganley, Tony Puyol
Senior Director of Video: Jeniece Pettitt
Animation: Jason Reginato, Emily Park
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About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to get ahead at work with AI? Sign up for CNBC’s new online course, Beyond the Basics: How to Use AI to Supercharge Your Work. Learn advanced AI skills like building custom GPTs and using AI agents to boost your productivity today. Sign up today: https://cnb.cx/4qKBe6H
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Nvidia Booked The Majority Of TSMC’s Capacity Of A Crucial Chipmaking Step
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@cloudatlasminer478
December 19, 2023 at 9:59 am
Can’t have a middle class, if the next generation is not willing to do the work that’s assumed for immigrants.
@kylekelly4979
December 19, 2023 at 9:59 am
Too bad the people with the power don’t give a rats ass
@Hound45
December 19, 2023 at 9:59 am
Because of Biden’s inflation and giving 71 Billion to Ukraine
@lissyperez4299
December 19, 2023 at 9:59 am
1 reason, BIDEN!
@johnwalker3473
December 19, 2023 at 9:59 am
Brandonmics!
@62kevin
December 19, 2023 at 9:59 am
Welcome to Joe Biden's America.
@bmoreblondie6301
December 19, 2023 at 9:59 am
BIDENOMICS 🤷♀️
@cinditrautmann7228
December 19, 2023 at 9:59 am
What happened to the middle class? It’s simple. It was hi jacked in the 80s by Mr Reagan and the rich.
@cinditrautmann7228
December 19, 2023 at 9:59 am
You make too much money to qualify for help, but not enough to actually afford the things that you need, like health insurance.
@daniel-raoulrobert9397
December 19, 2023 at 9:59 am
It's all about money management, never in history of mankind is it easier to earn money through the internet and technology and everyone has thier chance to succeed black/Caucasian /Asian or Latino. 200 hundred years ago you had be born royalty to succeed. What's a million when you can earn billions.
@gregflores8959
December 19, 2023 at 9:59 am
joe 10% biden….= greed,corruption, apathy!
@benarizola6609
December 19, 2023 at 9:59 am
Americans don't need to buy a NEW home or a NEW car. We are expected to but it is not a necessity. That vanity makes people go into unpayable debt. The only ones winning here are the banks.
@benarizola6609
December 19, 2023 at 9:59 am
Living beyond their means. Credit cards = living beyond their means.
Americans buy stuff they WANT, not things they NEED.
@jamesberonja1539
December 19, 2023 at 9:59 am
Taxes inflation.
@bbjjbb61
December 19, 2023 at 9:59 am
So the rich get richer? F*cking duh.
@glorialovesChrist
December 19, 2023 at 9:59 am
The top 1percent owns more wealth than the whole middle class combined in the USA
@glorialovesChrist
December 19, 2023 at 9:59 am
Inflation is killing the middle class.
@mikeyg1776
December 19, 2023 at 9:59 am
We all know 98% of us are at the bottom. In every race and category we have been robbed of an education that allows understanding of money and wealth. Schools kept the secret from being revealed because successful people hold onto what makes them successful and would never teach everyone to break free from the 9-5 wages with high taxes. We are conditioned to work for specific roles based on districts and income expectancies. The american dream is dead and the congress knows if they lose power it will decay from the inside out. No one wants to serve in the military because you get treated like trash and tossed out if you dont comply with mandated shots. This country is a failed experiment that ruined the planet, society and cultures within. ✌️
@dusklvr
December 19, 2023 at 9:59 am
They want global debt slaves…..for generations
@TSquared2001
December 19, 2023 at 9:59 am
Them wages and that inflation
@danpetrescu4915
December 19, 2023 at 9:59 am
really STUPID QUESTION ? may be because ARE POOR ?
@socksincrocks4421
December 19, 2023 at 9:59 am
I need to work overtime to get ahead, $1k a month just to go to work. $500 in tolls EZPASS, and $500 in Gas per month. $15k in property taxes, $9k in Pre-K… this is all after income and payroll taxes. Then after that Mortgage principle and interest, monthly expenses – e.g insurance, food, toiletries… Absolutely insane… we work to hemorrhage money to the people that control the system. I can't imagine how I would be able to pay for healthcare if I didn't have it through my employer. I would have to pay $4,200 a month for a family plan on my own.
You can see how the system is broken.
@zishere48
December 19, 2023 at 9:59 am
You can no longer have the American dream working a normal job. I always remember reading in the 1960s you could have a house and family working an entry level factory job. Now you would be putting your child into poverty. And working 2 jobs to keep the house.
@nom3nnescio
December 19, 2023 at 9:59 am
So she do pay taxes but gets nothing in return? Wow usa.
@fernandovazquez7272
December 19, 2023 at 9:59 am
The problem is people consider themselves middle class when they aren’t
All those car loans and home loans
They have no assets just loans
@Vggfdd-kj9kj
December 19, 2023 at 9:59 am
Just wait for trump and it will get a lot worse
@kauigirl808
December 19, 2023 at 9:59 am
Because we ARE poor.
@Me-sq9ol
December 19, 2023 at 9:59 am
How’s that republican “trickle down economics” working for you Americans?
@user-qh1jt3cj1g
December 19, 2023 at 9:59 am
Because top 1% owns 50% of all country's wealth
@dj-ii3ep
December 19, 2023 at 9:59 am
JoBama is destroying the economy on purpose for the GREAT RESET!
@muted5370
December 19, 2023 at 9:59 am
Leave America!!!!
@olgakravchuk5228
December 19, 2023 at 9:59 am
Thank to Biden !!
@luisdv5901
December 19, 2023 at 9:59 am
Cheap labor and big corporations think that people can live on a $15-an-hour wage
@rogeliobautista4231
December 19, 2023 at 9:59 am
I earn 3 dollars an hour. Im glad you guys are coming down to earth
@mikerodgers7620
December 19, 2023 at 9:59 am
Americans feel so poor because the Democrats want it that way.