by Wolf Richter • • Comments Off on Economic Growth in America’s “Two-Tiered Society”
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.
by Wolf Richter • • Comments Off on This Chart Is The Fate of Housing In America As Student Loans Bankrupt A Whole Generation
The equation might not have gone so horribly awry if each class of graduates had seen their incomes skyrocket in line with their student debt. But that’s a crummy joke in America.
by James Murray • • Comments Off on Why Fast-Food Workers Are An Endangered Species
By James Murray: 30 years ago, if you’d told me I’d go to a fast-food joint, order on a tablet, and eat a machine-made burger, I would have said, “No way.” And today?
by Wolf Richter • • Comments Off on They Actually Don’t Have A Clue About Employment And Jobs, Not In California
California is at it again. It released its employment and jobs reports today, in parallel with the national reports released by the Bureau of Labor Statistics. What a doozie. Is the California boom already over?
by Wolf Richter • • Comments Off on Why My BS-O-Meter Redlined In The Minimum-Wage War
“There is never a good time to raise the minimum wage,” explained Joseph Sabia, an associate professor of economics at San Diego State University. The Capitol Hill briefing was co-sponsored by the Employment Policies Institute, which is tied to the fast-food industry.
by Wolf Richter • • Comments Off on Fed Flails About To Squash “Misleading” (Very Inconvenient) Unemployment Measure
The Fed uses the easing unemployment rate as proof that its heroic policies are successful and that Bernanke could ride off into the sunset with a nimbus above his head. Other official measures are less gung-ho. And the most important one has become the Fed’s nightmare.
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