Detroit files for bankruptcy while S&P 500 hits record high: The bifurcation of the American economy and the long decline of the American manufacturing base.
The US is full of economic dichotomies. The DOW hit a peak when food stamp usage peaked. Incomes for the wealthiest are reaching record levels while the median household income has fallen back to levels last seen in the mid-1990s. And today, the once manufacturing powerhouse of Detroit is filing for bankruptcy at the exact […]
Part-time nation: What does it say when a vast portion of our society is now working at part-time jobs? 2013 scorecard: Minimum wage restaurant jobs added: 239,000. Manufacturing jobs added: 13,000.
One of the more troubling pieces of economic data I have seen is that excluding restaurant and bar employment, we are actually down nearly 2 million jobs in the private industry going back to the start of this long drawn out recession. This is probably one of the narrowest recoveries in our nation’s history focused […]
The debt reckoning has arrived: Total debt owed now approaches $60 trillion while Fed wrestles with interest rate confidence game.
Some people may be oblivious to the recent historical interest rate moves being experienced in the bond markets. Many on Wall Street probably assumed that the Fed had an unlimited ability to pull the wool over the eyes of the American public. Yet the reaction with interest rates concludes an interesting chapter in American central […]
How much do Americans earn? How the other half lives and examining income growth and median income for US households in 2013.
How much do Americans earn? Such an important and pivotal question is rarely examined in the mainstream press. It almost appears to be a forbidden topic of discussion. You would think that this question would warrant deeper examination given that income is the driving force of our consumer hungry economy. Yet many people are driven […]