This is a syndicated repost courtesy of Money Morning – Only the News You Can Profit From. To view original, click here. Reposted with permission. The federal government would love nothing more than to apply the 35% corporate tax to the estimated $1.7 trillion in cash U.S. multinational companies have designated as foreign investments –…
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This is a syndicated repost courtesy of Money Morning – Only the News You Can Profit From. To view original, click here. Reposted with permission. Republicans will vote tomorrow (Wednesday) on a debt ceiling bill that will give Congress nearly four months to make some major budget decisions – or risk losing out on pay.…
U.S. President Barack Obama often makes a point of talking about how important our country’s middle class is to our economic growth – something he reiterated yesterday (Monday) in his second inauguration speech.
“Our country cannot succeed when a shrinking few do very well and a growing many barely make it,” President Obama said. “We believe that America’s prosperity must rest upon the broad shoulders of a rising middle class.”
But the financial reality that currently faces the U.S. middle class is not one that can support a country’s economic future.
For example, many middle-class workers have lost jobs or taken a pay cut since the president took office in 2009, and the 7.8% unemployment rate is the same as when President Obama first took office.
The labor force participation rate – the percentage of working-age people who are employed or actively seeking jobs – is at its lowest level in over 30 years, and those who are working are making a lower median income than they did 10 years ago.
At the same time, almost half of Americans are unprepared for financial emergencies. About 49% of Americans don’t have enough money saved to cover three months of expenses and 28%don’t have any money saved, according to a survey by consumer financial services firm Bankrate.com.
Here are five startling charts that outline a middle class decline that’s taken shape under President Obama.
This is a syndicated repost courtesy of Money Morning – Only the News You Can Profit From. To view original, click here. Reposted with permission. Republicans this week will vote on a short-term debt ceiling increase that gives Washington three more months to agree on budget cuts. The GOP would approve the short-term increase with…
This is a syndicated repost courtesy of Money Morning – Only the News You Can Profit From. To view original, click here. Reposted with permission. There was short-term optimism about the U.S. economy after the fiscal cliff deal, but there’s still a looming problem for this year that can’t be avoided: automatic spending cuts to…
When you’ve been working the markets as long as I have, you learn that the biggest dangers are always found in a place just over the horizon.
It’s why I spend my time hunting for stories, news items and opinions that in the old days were considered far “below the fold.”
Invariably, what I am looking for is the stuff that everybody else has missed.
Because I believe that’s where the real information is — especially when it comes to uncovering profitable opportunities others don’t yet see or understand.
It’s the story behind the story that interests me. To find it, you need to go beyond the headline news.
In that spirit, here’s my take on five things that I’m thinking about right now.