Shrinking Middle

Middle class is defined as adults with household incomes between two-thirds and twice the national median, or between $40,000 and $120,000 today. In 1971, 61% of adults were middle class, 14% were upper class and 25% were lower class. Today, just 51% are middle class, 20% are now upper class, and 29% lower class. Even…

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The Game of Life

If you follow these rules: complete a high school degree, work full time, and wait until 21 to get married and have a baby, then you have only a 2% chance of being in poverty and a 72% chance of joining the middle class (earning $55,000+). However, if you violate all three rules, you have…

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Shop or Drop?

Consumers 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 is up. Luxury spending is strong but chain-store sales were down in Oct and Nov…

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