Social Security helps keep half of elderly Americans from poverty: Social Security has become the de facto retirement plan for millions of Americans.
Social Security was never designed as a long-term retirement plan for millions of Americans. Yet Social Security has become the default retirement plan for many elderly Americans. In fact, if it were not for Social Security roughly 44 percent of elderly Americans would be in poverty. This is calculated by how many Americans receive Social […]
Economic goals of young and old pulling in diverging directions: times will only get tougher for young Americans.
Older Americans tend to vote in larger numbers and are more interested in politics than younger Americans. In the past the older voting cohort was not as large so politicians were cautious about deviating too far for one group alone. Today, we are having a large number of older Americans living longer into old age. […]
Low wage jobs dominate as waiters and bartenders will soon outnumber manufacturing jobs: Latest jobs report highlights continuing trend in low wage employment.
The trend to low wage employment continues as the latest jobs report shows that wages are being eroded by inflation. Of course, the public is told that inflation is muted but simply looking at your paycheck versus housing costs, healthcare costs, and food would tell you a different story. Americans went to vote with economic […]
The government is already in a soft default and is addicted to low interest rates: Government expenses at $3.87 trillion while receipts enter at $3.29 trillion.
The term default has varying definitions depending on whether you are an individual, a big bank, or the government. For you as an individual, default will occur when you are unable to pay your debts with the income you are generating. You are constrained by your income. As we saw with the housing crisis, when […]