The working few and the inverted pyramid of labor: 1 out of 3 Americans financially carry the other two-thirds.
Last month a record 93,194,000 Americans were counted as not being in the labor force. Counted might be the wrong word since this group is largely erased from any employment figures. In fact, this is a large reason why the unemployment rate has fallen so dramatically. Yet one grim financial reality remains. That reality includes […]
Two-thirds of Americans don’t understand how credit cards work: The debt addiction in your pocket.
There is something alluring about swiping a card and making a purchase. It almost seems euphoric and fun. Credit cards come in a variety of sleek designs to help you part with your current and future income. Americans are deeply in debt. Mortgages, student loans, auto debt, and credit cards consume a large portion of […]
The economically lost generation of Millennials: taking a look at net worth data, living arrangements, and student debt.
Young Americans probably missed the memo regarding the economic recovery that has been taking place since 2009. Apparently massive student debt, living at home, and a market full of low-wage jobs isn’t exactly the picture perfect ideal of a booming economy. Millennials are facing an uphill battle. The market has virtually eliminated the pension system […]
The next bailout will be with student loans: White House takes first steps in allowing a bankruptcy option for student debt. $1.2 trillion in student debt outstanding.
It truly is absurd when you hear people moralizing that people should pay their student debt when virtually every other debt class can be discharged through bankruptcy. You can go to Las Vegas, run up $50,000 in credit card debt for a wild night, and if you are unable to pay it back, no problem. […]