Unsocial Insecurity: Social Security Fund loses money for the first time since 1983. The new retirement model will have you working until you fall over from a heart attack.
Social Security was never designed as a long-term pension. It was implemented in 1935 during the Great Depression to assist families from falling into absolute poverty. The large work force dominated by men usually meant that many would die and leave a large family behind with no financial resources. Social Security was there to protect […]
Americans are going to have their wallets rocked in 2016: 7.5 year global business cycle trumps central bank money printing.
Americans are already in the process of having their wallets devoured by shadow inflation and a system that is gutting the middle class like a turkey being stuffed for the oven. We’ve been in recovery according to various money oracles since 2009 but all we got was a drop in the homeownership rate, stagnant incomes, […]
The neo-Gilded Age: 62 richest people in the world have the same wealth as half the world. An economy for the 1 per cent.
The Gilded Age was a period in American history where the few had so much while the majority toiled away in pauper like conditions. One of the reasons often cited for the Great Depression was massive wealth inequality. Well today wealth inequality is at levels that rival the pre-Depression era. And for those of you […]
What is a middle class income in America? A lot less than you think and Americans are getting poorer by the day.
Questions around being middle class are coming up a lot in the last few years. This inquiry is coming up because people are grasping at straws trying to maintain a quality of life that reflects a middle class lifestyle but many have incomes that simply do not support their spending. Americans are set to become […]
The rise of the part-time and disposable employment army: Record number of people now employed in transient labor positions while good paying jobs remain stuck in the mud.
The headline employment numbers present a glamorous picture of the economy but one that is not based on reality. After all, you have over 94 million Americans not in the labor force and this growing army of people is helping to keep the unemployment rate low. And for a growing number of Americans those in […]
Americans are about to get poorer in 2016 as the wealth effect reverses: 63 percent of Americans have no emergency savings.
The year is off to a tumultuous start. Markets around the globe are quickly realizing that hot money is going to hit a wall at some point. Many Americans are coming to the stark realization that the recession that ended in 2009 never really ended for the middle class. In fact, it might have been […]
New Year begins with record number of men not in the labor force: Those not in the labor force increased by 1.9 million last year while the labor force increased by only 1.1 million.
The New Year begins with a record number of men not in the labor force. Those “not in the labor force” remains at a record level and this cannot be explained away simply by shifting demographics. Demographics alone is a convenient explanation for this large number but unfortunately only explains part of the large number […]