Planning for retirement does not happen overnight. You need to diligently plan and sock away savings like a squirrel stocking up for the season. Many Americans have no retirement savings and more troubling, many near retirement face a compressed timeline where they will need to save or face a massive decline in living standards in […]
Wealth inequality is an extremely touchy subject. The main catalyst for “change” in the recent election had to do with most Americans being dissatisfied with the economy. But how can people be unhappy if the stock market is at a peak and housing values are going up? The reason for this is that most Americans […]
Low wage jobs dominate as waiters and bartenders will soon outnumber manufacturing jobs: Latest jobs report highlights continuing trend in low wage employment.
The trend to low wage employment continues as the latest jobs report shows that wages are being eroded by inflation. Of course, the public is told that inflation is muted but simply looking at your paycheck versus housing costs, healthcare costs, and food would tell you a different story. Americans went to vote with economic […]
The government is already in a soft default and is addicted to low interest rates: Government expenses at $3.87 trillion while receipts enter at $3.29 trillion.
The term default has varying definitions depending on whether you are an individual, a big bank, or the government. For you as an individual, default will occur when you are unable to pay your debts with the income you are generating. You are constrained by your income. As we saw with the housing crisis, when […]
The oxymoron of the labor force when labor means not working: 92 million Americans are not in the labor force with 12 million of those being added only in the last 4 years.
This week we will be getting the employment numbers. The unemployment rate is expected to stay steady or even drop which is comical given that we have 92 million Americans not working today and another 19 million that are fully unemployed. Those not in the labor force continues to grow beyond the basic changes in […]
Is going to college worth it? College tuition has increased at a faster rate than housing, energy, food, and medical care costs over the last decade.
For an entire generation it was an easy question to answer. Is college worth it? Absolutely. There was little debate regarding the “worth” of a college education. Of course this question was usually asked during more affordable times and not when $1.2 trillion in student debt was out sloshing about in the economy. I think […]
Working for peanuts: Half of American workers earn less than $28,031 per year and household income now back to levels last seen two decades ago.
Every fall, two pieces of data are released reflecting the earning potential of American families and workers. The low wage economy has certainly taken a toll on how much Americans earn. Social Security data was recently released and shows that 50 percent of the country earns less than $28,031. This is the per capita wage. […]