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 […]
The biggest export from America? The middle class. The tradeoff for cheap goods and financial cronyism is coming back in a big way.
There is always a tradeoff in economics. The adage about a free lunch comes to mind to the rise of low wage capitalism in America. It is a complicated web driven by financial cronyism and a system largely driven by ignoring the plight of the working class. The story of US manufacturing is probably one […]
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 […]
Arrested economic development: 36 percent of Millennials living at home delaying financial adulthood. Less than one-third of Millennials employed.
Young Americans are living at home in record numbers. Millennials are living at home for much longer because of the poor economic conditions for the young. Think about the perfect storm of financial pain for young Americans. College costs are astronomical and many are going into massive debt to pursue a college education. If not, […]
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 […]