WWII is still reshaping our economic reality. The massive global loss of life in WWII and its birth dearth during the war created a demographic hole (unusually high death / unusually low births over a 5 to 10 year period). The subsequent baby booms in the US and globally in Japan, Europe, and so many more locations which were affected by the war created a “pig in the python” moment.
The gap between America’s upper-income and middle-income families has reached its highest level on record. In 2013, the median wealth of the nation’s upper-income families ($639,400) was nearly seven times the median wealth of middle-income families ($96,500).
Excerpted from Hand to Mouth: Living in Bootstrap America by Linda Tirado. Out now from Putnam. I once lost a whole truck over a few hundred bucks. It had been towed, and when I called the company they told me they’d need a few hundred dollars for the fee. I...
Silicon Valley, the epicenter of the tech industry, is one of the wealthiest and fastest-growing regions in the country. But the rapid development and influx of tech workers has revved up competition for housing and a growing income divide. Special correspondent Scott Shafer of KQED reports on the demolition of a notorious homeless encampment in San Jose. Continue reading →
The Department of Treasury is spending $200,000 on survival kits for all of its employees who oversee the federal banking system, according to a new solicitation. As FreeBeacon reports, survival kits will be delivered to every major bank in the United States and includes a solar blanket, food bar, water-purification tablets, and dust mask (among other things). The question, obviously, is just what do they know that the rest of us don't?