Econ70
Census reports that 97.3 million Americans are now classified as low-income; earning between 100% and 199% of the poverty level. Together with the 49.1 million who are at or below the poverty level, these groups total 146.4 million Americans; 48%…
Read MoreWith the troops all out of Iraq, we can now ask what the war cost. While not easy to estimate, if you include spending to date, VA costs, veterans disability payments, interest on the war debt, foreign assistance, future medical…
Read MoreThe Friday File: Times are so tough the Queen of England is feeling it. She is set to receive £30 million/year for the next several years, down from the £77.3 million she received some time ago. Worse, Prince Charles who…
Read MoreThe Friday File: Times are so tough the Queen of England is feeling it. She is set to receive £30 million/year for the next several years, down from the £77.3 million she received some time ago. Worse, Prince Charles who…
Read MoreSince the Super Committee failed $1.2 trillion in mandatory budgets cuts, starting in ’13 and running through ’21, will commence. But, the $1.2 trillion in cuts are actually only $984 billion! The law assumed that by not borrowing $984 billion,…
Read MoreIn DC there are 8,600 cabs for 600K people; plenty of cabs and a hacker license is cheap. In Chicago there are restrictions; only 6,951 cabs for a population of 3 million, and a license costs $200,000. In Boston, there…
Read MoreConsumers are spending but for how much longer? Over the past year disposable income is down, savings has fallen from 5.3% to 3.5%, household net worth has fallen by $2.4 trillion as house prices keep falling and credit card debt…
Read MoreOver the six quarters ’09Q2 through ’10Q4 corporate profits captured 88% ($464 billion) of the growth in real national income ($528 billion) while wages and salaries accounted for slightly more than 1% of the growth ($7 billion). Through ’11Q1 corporate…
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