Silicon valley sees middle class disappearing..

The rate is alarming..and its should scare the bejesus out of everyone. From the NYT writeup:

The report found that from 2002 to 2006, middle-wage jobs fell to 46 percent of the work force, from 52 percent.

At the same time, while the percentage of higher-end jobs rose slightly — to 27 percent from 26 — lower-wage jobs expanded to 27 percent, from 22 percent of the work force. In all, more than 50,000 middle-income jobs have disappeared over the four years measured by the study.

The vanishing jobs — defined as those paying $30,000 to $80,000 — represent workers who had been in the lower part of the white-collar pyramid, including secretaries, clerks and customer support representatives. The picture was blurred, however, by growth in some blue-collar, middle-income professions like electricians and plumbers, and several white-collar areas like computer support technicians.

It doesn’t take a rocket scientist to know that if the middle disappears, you can not support the top. If my dumb ass can figure that out..why in the blue hell can’t the financial wizards see it?