Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Marguerita Cheng, a certified financial planner and CEO of Blue Ocean Global Wealth, has a client in the Washington, DC area who makes $450,000 to $600,000 a year but lives paycheck to paycheck. He spends a lot of it on keeping peace with his ex-wife. Related: Guardian readers: US middle class is ‘living from one…
Duration matters: The longer someone was out of work, the more likely it is that they’ve quit looking. Of the total, 55 percent who were unemployed for more than two years fell into the category; 32 percent of those idle for 13 to 24 months and 34 percent out for seven to 12 months had…
Excerpted from John Hussman’s Weekly Comment, The atmosphere is getting thin up here, and every ounce counts triple when you’re climbing in rarefied air. While near-term market dynamics are more likely to be impacted by Friday’s employment report than any other factor, our broad view remains that stocks are in the late-stage top formation of…
Check if there is a lead inset render main article body Ever since the global financial crisis, economists have groped for reasons to explain why growth in the U.S. and abroad has repeatedly disappointed, citing everything from fiscal austerity to the euro meltdown. They are now coming to realize that one of the stiffest headwinds…
Neel Kashkari, the at-the-time little-known Goldman Sachs banker who was put in charge (by Treasury Secretary and former Goldman Sachs CEO Hank Paulson) of the Troubled Asset Relief Program (that is, the bank bailouts) in 2008, has been named the new president of the Minneapolis Federal Reserve Bank. As head of TARP, Kashkari was responsible…
Back in college, while my friends mostly held down jobs in retail, worked at restaurants, or picked up random gigs through temp agencies, I worked as a nanny. And while a lot of those friends hated their jobs, I was kind of obsessed with mine. I spent my days and evenings with two fiercely smart,…
New Line Cinema/youTubeOrcs.Albert Edwards has central banks in his sights again. Societe Generale’s bearish strategist wrote a note to clients Thursday going back to what he calls, “my favorite pastime — kicking the Fed.” This time Edwards said that the Fed and other central banks have waited too long to raise interest rates, allowing companies to…
A couple of weeks ago President Obama mocked Republicans who are “down on America,” and reinforced his message by doing a pretty good Grumpy Cat impression. He had a point: With job growth at rates not seen since the 1990s, with the percentage of Americans covered by health insurance hitting record highs, the doom-and-gloom predictions…
For millions of Americans, it’s not getting better. While the national unemployment rate has been on a downward trend in recent years—after reaching a high of 10 percent in October 2009—not everyone has been able to enjoy those benefits. According to a recent report from the Orlando Sun-Sentinel, the paper found that food stamp rates…
Submitted by Michael Snyder via The End of The American Dream blog, We just got more evidence that the middle class in America is dying. According to brand new numbers that were just released by the Social Security Administration, 51 percent of all workers in the United States make less than $30,000 a year. Let…