Retirement account fantasy and middle class erosion – 1 out of 3 Americans has zero dollars in a retirement account. From 1950 to 1989 top 1 percent earned roughly 7 to 8 percent of nationwide income. Today it is inching closer to 20 percent resembling pre-Great Depression levels.
Many Americans live precariously close to the edge of financial insolvency flirting with economic disaster daily. If you casually browse mainstream articles and watch any amount of television you would think that the US still had a vibrant and strong middle class. When we pull back the covers on the current financial situation we realize […]
The red queen race of debt – US public debt set to pass US annual GDP. The 100 percent GDP to public debt threshold is quickly approaching.
People may not even realize that during the Great Depression, US Federal debt as a percent of GDP did not even reach 40 percent. Part of this was because the size of government was much smaller in military, public services, and entitlements. The only time in history that the US as a whole spent more […]
The growing chasm between rich and poor in America – Latest data shows that 500,000 people were added to the food assistance program in one month. 6 million Americans added over the last year. Those that buy diamonds versus those that barely have enough to buy soup.
The shrinking of the American middle class is painful to watch. Shopping at the grocery store I’ve noticed more and more people with unique debit cards that don’t look like your typical debit or credit card. These are actually the modern day food stamps and help to take away the stigma of pulling out a […]
How much does the average American make in 2010? Examining new data on U.S. household income numbers and high income earners. 100 million Americans make less than $39,999 per year.
Examining the average income for Americans sheds a very troubling light on what has happened to income over a very financially destructive decade. If we look at the median household income in the U.S. this actually underplays the falling behind of wages because we are looking at households with multiple people working. Without a doubt […]