Many Americans spend every dime they make, and usually way beyond what they make. It’s not because they have confidence in the economy. They don’t! The gap in consumer confidence between these folks and those with higher incomes is at an all-time record!
It’s been glorious: global M&A in Q2 soared 47% to $1 trillion, highest since 2007, just before the financial crisis. But in California, 30% of the people making less than $40k were in worse financial shape than last year, despite all the bubbles around them.
“We fear that, once the effects of monetary stimulus disappear in the US, the weakness of the economy due to income inequalities may suddenly be revealed.”
By Alex Hillsberg and David Adelman: The tricks that ads use to fools us would be hilarious, if it weren’t so serious. These photos of ads and reality will make you laugh, squirm, and gnash your teeth all at the same time.
It was a very basic question: Have there been times when you did not have enough money to buy the food you or your family needed? In wealthy countries, the percentages should be small, and given all the money-printing, it should be zero, you’d think.
I’m a coffee lover, and this is getting personal: our latte, espresso, or just plain good coffee is going to bite fiercely into our already mauled pocket book. In one crazy chart.
Teachers are a symbol of the middle class. In California, they earn on average $69,300 annually, fifth highest in the country. Not exactly a pittance. But it is a ludicrous pittance if they’re trying to buy a home.
With over 6,400 stores in 26 countries outside the US, Walmart International has smacked into the same problems Walmart has encountered in the US: it’s tough out there.
Rising household debt would be a hopeful sign that consumers are again living beyond their means, finally spending money they don’t have in a heroic effort to stimulate Wall Street, corporate earnings, and the Fed’s self-esteem. So we jubilate. We’ve waited for it too long.
By Don Quijones: Governments are seeking to reduce cash transactions. The reasons are obvious: as most countries struggle to rein in public spending, governments are frantically surveying their surroundings for anything of value to steal or pawn.