Comparing the inflated cost of living today from 1950 to 2014: How declining purchasing power has hurt the middle class since 1950.
Inflation has a subtle eroding effect that impacts entire economies. In the United States, we have been fortunate to have relatively stable rates of inflation for two generations. Even in times of high inflation like the 1970s, people were able to adjust unlike places that experience uncontrolled inflation like Argentina is currently facing. Also, wages […]
Why millions of Americans will never retire: How the prospect of retirement went from a realistic goal to an outrageous dream for most American families.
Retirement was presented to many Americans as some kind of middle class rite of passage. It was odd to see so many fall under the spell of easy riches and generous retirement math presented to the public from the Wall Street financing machine. Many saw retirement as a distant object so far into the future […]
The acceleration of a global Gilded Age: Half of the world’s wealth now owned by one percent of the population. Bottom half of world population own the same as the richest 85 people in the world.
Wealth inequality across the globe has reached epic proportions. While many bankers roll around in piles of digital million dollar bonuses for basically adding no value to the economy, the rest of the world struggles to enter this modern economic era. The perception is that this is only happening across the world in other nations. […]
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 […]