Too broke to leave home even at 35 years of age: Over 30 percent of young adults under the age of 35 living at home. Home ownership rate of young adults continues to plummet.
Young Americans are so broke, they can’t leave home. That might sound like the line of a really bad joke but this is the unfortunate situation in our economy. Many young Americans are saddled with mind numbing levels of student debt. Younger Americans are carrying the heavy burden of the $1.2 trillion in student debt […]
How many Americans live paycheck to paycheck? A nation living precariously close to the financial edge.
The fuel that drives our economy is spending. There are few nations that rival our ability to spend. We spend with the gusto of a shop-a-holic. The assumption is that we simply have the money lying around to spend at this level. That is simply not the case since most Americans are flat broke by […]
Goodbye American middle class: New report reveals that 62 percent of Americans earn $20 or less per hour. Household income stuck in neutral for a generation.
The latest figures from the Bureau of Labor and Statistics (BLS) reveals that 62 percent of Americans earn $20 or less per hour. And this only examines those that actually have a job. Most of the new jobs added since the Great Recession ended have come in the low-wage segment of our economy which seems […]
Hand-to-mouth nation: Roughly 40 percent of US households living paycheck to paycheck but two thirds of these families are not considered poor by economic definitions.
People have a hard time believing that in the wealthiest country in the world, we have close to half of our population living hand-to-mouth bouncing from one paycheck to another. A recent paper released by the Brookings Institution’s BPEA conference shows that people living hand-to-mouth are largely those with “middle class” incomes. Of course middle […]
Middle class acquiesces through the looking glass of financial mediocrity: The financial system continues to pillage the wealth of working and middle class Americans.
2013 can be remembered as a year where the markets fully disconnected from Main Street. The trickle down promises are all empty and hollow words. For example, we had one of the best stock market rallies ever yet most Americans are not seeing any wage growth. The housing market boomed but more than 30 percent […]
The tax consequences of a shrinking middle class – Nearly half of Americans do not pay income taxes because they earn too little or are flat out on Social Security.
Recently the topic of taxes has been put on center stage again. Aside from the political bickering the data shows us an even more disturbing trend. The middle class is demonstrably shrinking at a time that the government is spending money it doesn’t have while the Fed is digitally printing money to save its allied […]
When the financial clock strikes zero – Half of Americans pass away with nearly zero wealth. The middle class has contracted by ten percent in the last 40 years.
A recent study demonstrates the precarious financial position many Americans find their lives in. The National Bureau of Economic Research found that nearly half of Americans pass away penniless. The exact figures were sobering stating that many of these Americans end up with no financial assets including home wealth and typically rely heavily on Social […]