Jun 24 2014
The chasm between the real economy and stock market: Baltic Dry Index down 60 percent and CNBC viewership near record lows. Where is the wealth in the US?
There is a continuing divide between the stock market and what is happening in the US economy. Many of the S&P 500 companies derive a large portion of their profits from growth abroad and many companies have increased their bottom-line by slashing wages, hours, and benefits domestically. Not exactly a plus for working and middle […]
Aug 24 2013
Wealth distribution in US rivals a modern day Gilded Age: In 2013 wealth inequality at record levels. 72 percent of wealth in US held by 5 percent of the population.
Americans continue to live through a modern day Gilded Age. Wealth inequality is at its highest levels since the Great Depression, when names like Mellon and Morgan plastered the headlines. Yet this time around, the availability of debt provides the illusion that the playing field is even. Americans are massively in debt and when we […]