Fed doublespeak and the dismantling of the middle class: Fed states dropping “patient” word doesn’t mean it is impatient on rates. In 1970 roughly 7 percent of all income was earned by the top 1 percent. Today it is closer to 20 percent.
The Fed has taken a page out of George Orwell’s 1984. Doublespeak is all the rage and the Fed’s statements are analyzed as if sifting for gold. Even when they don’t do anything markets jump. The Fed sets the tone on our debt addiction. The Fed dropped the word “patient” in terms of increasing interest […]
The 35 year drought in real wages for American workers: American workers really haven’t had a raise since 1979.
Economic recoveries take on a variety of shape and sizes. With stock markets reaching new highs you would expect that some of the fruits of this boom would trickle down to American workers. But some of the booming trends are continuing on the path of low wage labor and certainly, of turning people into contract […]
A demographic tsunami looms: By 2020 we will have 20 percent of our population 65 and older. Half of elderly Americans would be in financial ruin if it weren’t for Social Security.
Kicking the can down the road has a nice appeal. It is the same allure that comes from procrastinating. Putting off the dirty work for another day. This seems to be the approach we have taken for deficit spending. So it is no surprise that older Americans have followed in the same footsteps and many […]
The largest bracket of tax payers in the United States is made up by those making $15,000 a year or less: Half of all federal taxes paid by those making $250,000 or more. Sample $50,000 budget.
New IRS tax filing data sheds an interesting light on the American economy. Americans for the most part comply with paying their taxes as measured against other countries. However, when we look at tax data we get an interesting picture on the low wage economy. As it turns out, the largest tax bracket comes in […]
Comparing the inflated cost of living today from 1938 to 2015: US Dollar losing an enormous amount of purchasing power since 1938.
People have a hard time understanding how inflation erodes their purchasing power. Little by little the cost of everything goes up and people simply assume this is normal in an economy. The $2 movie ticket becomes a $8 movie ticket. That can of tuna just got smaller but the price remains the same. The cost […]
The American Dream deferred for young Americans: Living in rentals, inflated college tuition, and low wages await millions of young Americans.
The Americans Dream was largely built on a few simple ideals. One was the ability to purchase your own home without needing artificially low rates and dangerously low down payments. Another key aspect of the dream was allowing young Americans to receive a college education to pursue their future. While more Americans are going to […]
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 […]