Top 10 percent of US households control nearly 75 percent of all wealth – Average Americans pretend to be temporarily embarrassed millionaires by going further into debt.
We currently exist in a land of financial contradictions. US household incomes adjusting for inflation are back to levels last seen in the late 1980s. However, holiday spending is going strongly largely by people going into big debt. Many are going to be paying for the holiday season of 2013 deep into years to come. […]
The two-income trap for Americans: How dual income households are a financial necessity in a time when the median per capita wage is $27,000.
Recent Social Security data released this month revealed that income disparity is only growing in the United States. The released figures show that the median per capita wage in the US is $27,519. Given the costs for college, healthcare, and housing many households are simply falling out of the middle class. The two income household […]
McJobs for McAmerica – Fastest growing jobs in low wage sectors. Of 10 largest occupations in US only one pays more than $35,000 per year.
The end of the Great Recession has done little to protect the middle class. The largest employment growth has come from low wage positions. According to Social Security data on wages the per capita wage for Americans is $26,000. Your typical household is pulling in about $50,000 per year. The growth in low wage jobs […]
The grand financial shift: Rich own assets while poor and working class deep in debt. 70 percent of wealth for the bottom 80 percent locked up in principal residence.
A core reason for the financial crisis was because too much debt was given to those with very little ability to pay it back. From the wealthiest banks to those scrimping by on minimum wage. The irony of this is that many for-profit colleges for example use government aid to finance the education of those […]
How the stock market is a sham for the working and middle class. 53 percent of Americans have no money in the stock market, including retirement accounts. 62 percent of all US wealth owned by top 5 percent.
The growing wealth divide in this country is devouring every piece of the middle class that is currently left. The stock market is largely a sham for most Americans. Why? Many hedge funds and other large Wall Street firms are in the business of making quick profits even if it means destabilizing the underlying economy. […]
Let us count the ways of inflation: While the CPI understates inflation Americans are living out the days of a contracting standard of living.
Americans are experiencing the impacts of inflationary pressures on their pocketbooks. The Consumer Price Index (CPI) used by the Bureau of Labor and Statistics does a poor job of measuring inflation because it uses derivative measures to reflect the price of things we can readily get. The most obvious example is the measure used to […]
Suppressing wages and increasing corporate profits: The tough math behind the current economic recovery.
It should come as no surprise that the stock market is a very poor barometer on the financial health of Americans. We think of the stock market as a temperature gauge on how well Americans are doing. If that is the case, the record breaking highs in the stock market should reflect a very happy […]