- A new Pew Research Center study notes that the lower 93% of households saw their wealth decline by 4% during the "recovery" from 2009-2011. Meanwhile, the top 7% saw their wealth increase by 28% during the same period:
From the end of the recession in 2009 through 2011 (the last year for which Census Bureau wealth data are available), the 8 million households in the U.S. with a net worth above $836,033 saw their aggregate wealth rise by an estimated $5.6 trillion, while the 111 million households with a net worth at or below that level saw their aggregate wealth decline by an estimated $0.6 trillion.1The upper 7% saw its share of the nation's total wealth increase from 56% in 2009 to 63% in 2011.
- Are you a GenX'r? If you plan to retire at 65, your benefits will be cut by 18% under current law because full benefits do not kick in until 67. If you wait until age 70, you will get 8% more. Of course, most of you will be saying "Retirement? What's that?" and will work until you drop dead.
- Those of you born after 1980 have lived your entire lives in the era of neoliberal economics. Tax cuts for the rich, free trade, and limited government have been in effect during your entire existence. For the youngest among you millennials, if you're a teenager aged 16-19 your unemployment rate is 24.2%. Your welcome. Signed, your elders.
- You still ought to move your money, if you have any.
- Good news: The U.S. has jumped from 12th place to 8th in the nations with the fastest broadband rankings. We have an average Mbps of 7.4. I have never seen my Optimum cable modem get 7.4, and never the 15 Mbps that is promised.
- Children given an allowance less likely to save?
- Old film noir recommendations are back!
This week I'm recommending The Blue Gardenia (1953) starring Anne Baxter and directed by the great Fritz Lang. You might know Lang's work in his more famous work The Big Heat, but this is one my Lang favorites. This is one of what I call a "Why not?" films. As in, why not watch it despite it not being a truly film noir jump off and more of an early 50's style mystery. However, Anne Baxter is young and beautiful which is good enough for me. And there's a special cameo by Nat King Cole!
Wednesday is May Day.
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Angie in WA State, eeff, oceanview, Redfire, KayCeSF, lyvwyr101, historys mysteries, YucatanMan, fou, blueoasis, gpoutney, kurt, pgm 01, Cronesense, JeffW, pickandshovel, JamieG from Md, thomask, DRo, Mentatmark, anodnhajo, We Won, nellgwen, Ginger1, rat racer, Rich Lyles
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