BoingBoing: Americans have no savings, with good reason: housing, education and health care costs are out of control, wages are stagnant, and the Fed has suppressed interest rates…. basically you're going to die broke


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America’s Wage Hope Hammered – Real Earnings Suffer Longest Slump Since 2009

For the first time since November 2009, real average hourly earnings tumbled for the 4th month in a row.

Despite all the hype, all the hope, and all the Phillips-curve-ian academic discussion…

 
Real wage growth just is not there

 

Inequality report also shows UK’s 50,000 richest people have seen their share of the country’s wealth double since 1984

 
The richest 0.1% of the world’s population have increased their combined wealth by as much as the poorest 50% – or 3.8 billion people – since 1980, according to a report detailing the widening gap between the very rich and poor.
The World Inequality Report, published on Thursday by French economist Thomas Piketty, warned that inequality had ballooned to “extreme levels” in some countries and said the problem would only get worse unless governments took coordinated action to increase taxes and prevent tax avoidance.

 
 

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