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Do GOP voters save better than Democrats? from marketwatch: The survey itself didn’t shed light on why Republicans begin saving earlier, however, and Allianz said it couldn’t identify specific causes. So to find some possible explanations, Encore did some lighthearted digging into the sociological and scientific literature. Wealth. To cite the most obvious factor, research shows that higher-income voters are more likely than the less affluent to identify themselves as Republicans; and in [...] From FT: By turning its back on white working-class men the Democratic party created a political vacuum Republicans have been all too eager to fill. Whether through racism, xenophobia, or homophobia, or by means of right-wing evangelical Protestantism, the GOP have found scapegoats. Blacks, immigrants, gays, and women seeking abortions aren’t responsible for the declining real wages of white men without college degrees, of course, but they are convenient targets of [...] From Jeff Clark in the S&A Digest: Ben’s parents looked like they wanted to kill me. Ben graduated from high school last week. He’ll be going to UCLA in August to study finance. Ben wants to trade stocks and options for a living. So at a fancy dinner party last week, while he was surrounded by family and close friends, Ben asked my advice on what classes to take at college. Without thinking, I [...] Robert Reich, Contributor
Members of the Class of 2012, As a former secretary of labor and current professor, I feel I owe it to you to tell you the truth about the pieces of parchment you’re picking up today. You’re f*cked. Well, not exactly. But you won’t have it easy. First, you’re going to have a hell of a hard time finding a job. The job market you’re heading into is still bad. Fewer than [...] by Michael
-Globalization -Inflation -Taxes Labor has become a global commodity, and American workers are often 10 to 20 times as expensive as workers on the other side of the world are. Middle class jobs (such as manufacturing, etc.) have been leaving this country at an astounding pace. Competition for the jobs that remain has become extremely fierce, and this has driven wages down. The following is from a recent article in the New York [...] So much for ditching ramen.
Nearly 3 million college-educated New Yorkers report having difficulty affording food, according to a new report by the Food Bank For New York City. One in three expressed concerns that they might need assistance, a stat that’s increased 6 points for those with bachelor’s degrees and from 2 points for those with graduate degrees. The number of affected residents making between $50,000 and $75,000—and therefore not eligible for food assistance programs—increased [...] I have a couple friends who have been out of work for nearly 2 years, both with college degrees and who work in the medical field. One also taught and the other even has 20 years experience as a paramedic before getting his radiologic sciences degree. One lives in Phoenix and the other in San Antonio, both places where you were able to get a job at the drop of [...] From Casey’s Daily Dispatch: In the world of finance, there is always talk of bubbles – mortgage bubbles, tech stock bubbles, junk bond bubbles. But bubbles don’t develop only in financial markets. In recent years, there’s been another one quietly inflating, not capturing the attention of most observers. It’s an education bubble – just not the one of student debt that has graced the pages of the New York Times and so many other [...] #1 Only 55.3% of Americans between the ages of 18 and 29 were employed last year. That was the lowest level that we have seen since World War II. #2 Today, there are 5.9 million Americans between the ages of 25 and 34 that are living with their parents. #3 The economic downturn has been particularly tough on men. According to Census data, men are twice as likely to live with [...] A new Gallup poll reveals that voters who identify as more conservative, do not have college degrees and who make less than $24,000 annually are more likely to support former Alaska governor Sarah Palin over Mitt Romney for president in 2012. Romney, on the other hand, has evidently fared better with voters who describe themselves as “liberals to moderate”, have received degrees of higher learning and who make at least $90,000 a year. The [...] Here are just some of the sobering facts: – There are 8.5 million people receiving unemployment insurance and over 40 million receiving food stamps. – At the current pace of job creation, the economy won’t return to full employment until 2018. – Middle-income jobs are disappearing from the economy. The share of middle-income jobs in the United States has fallen from 52% in 1980 to 42% in 2010. – Middle-income jobs have [...] The gap between employed women and men with college degrees has widened, according to data from the Census Bureau today. Thirty-seven percent of employed women have a bachelor’s degree or higher, compared to 35 percent of men, according to 2010 census figures. - ABC News You know, where you can hop on a plane in any city, and catch a flight anywhere in the world within 24 hours? Where you can pick-up a phone and call someone on the opposite side of the globe for pennies? Where you can turn on your TV and find five hundred channels? Where you can attend the best universities in the world? Where even your smallest local grocery store has [...] |
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