Dec 13 2014

Cronyism and ensuring American taxpayers bailout the finance industry during the next crash: Nostradamus like spending bill will ensure big banks never fail with your money.

Do you smell what is in the air?  Pine trees?  No.  Something with a more pungent smell.  There is a wonderful whiff of cronyism floating around Washington D.C.  In the latest government kabuki theater there was some interesting items being passed.  There were major protections given to banks should trillions of dollars in derivatives blow […]

Dec 7 2014

Social Security helps keep half of elderly Americans from poverty: Social Security has become the de facto retirement plan for millions of Americans.

Social Security was never designed as a long-term retirement plan for millions of Americans.  Yet Social Security has become the default retirement plan for many elderly Americans.  In fact, if it were not for Social Security roughly 44 percent of elderly Americans would be in poverty.  This is calculated by how many Americans receive Social […]

Nov 24 2014

Economic goals of young and old pulling in diverging directions: times will only get tougher for young Americans.

Older Americans tend to vote in larger numbers and are more interested in politics than younger Americans.  In the past the older voting cohort was not as large so politicians were cautious about deviating too far for one group alone.  Today, we are having a large number of older Americans living longer into old age.  […]

Nov 9 2014

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 […]

Nov 4 2014

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 […]

Oct 26 2014

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.  […]

Oct 20 2014

One-third of working Americans support two-thirds of the population: The hidden figures of those not in the labor force and transfer payments.

There still seems to be little acknowledgement of the massive army of people now falling into the category labeled as not in the labor force. Some of this growth is predictable like many older Americans hitting retirement age. But this only explains a small portion of the change since many older Americans are needing to […]

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