The Post-Boomer Economy
Here's a very interesting take on the post-boomer economy by Conor Sen, a former hedge fund analyst.
Nightmare Economy to Have ‘Indelible Impact’ on How Young People Think About Money
The jumps in rates of borrowing to rates of saving for young people are huge, and Moody’s economist Mark Zandi thinks it’s because we’re scared, which: we are. Yes. That is a true assumption. “It is unclear how long this heightened risk aversion will last, but I suspect the last few years will have an indelible impact on how younger households think about their finances.” NO DUH MOODY’S.
Sandy, the U.S. Economy, the Election, and “Our Portfolios”
Lastly, the call concluded with: "There are no actionable changes to clients portfolio." No need to do anything with our portfolios, you guys. Sandy didn't do a thing to them!
Spinning Those Jobs Numbers
The unemployment rate has fallen below 8 percent for the first time in four years to 7.8 percent.
The Economic Narrative of ‘Game of Thrones’
The Harvard Crimson compared the narrative in Game of Thrones to the economic narrative the U.S. experienced because, well, the Crimson has nerds writing for them (j/k, we love you nerds).
Is Income Inequality Expanding? (Yes.)
According to the Economic Policy Institute, a non-profit, non-partisan think tank that "believes every working person deserves a good job with fair pay, affordable health care, and retirement security" (agreed!), wage inequality has expanded during 2009-2011 economic recovery.
She Left Her Country to Look for a Job
This post from a father in Spain about watching his daughter get fed up with applying for jobs in a country where the unemployment rate for young people is 50 percent and being forced to look for opportunities abroad is very good.
Robert Reich Talks Fast, Draws Pictures, Makes Points
I haven’t read a lot of the articles about raising the minimum wage because it is just so stupidly obvious that the fact that it didn’t already happen yesterday makes me exhausted. But it’s still a thing people are talking about and writing about because it’s still a thing that isn’t settled yet (RIDICULOUS) so Robert Reich made a video with Move On that goes over the pros and debunks the cons in 2 minutes and 25 seconds. Shorter version: DUH.
Heidi Is Not Impressed
Heidi N. Moore has lots to say—and nothing good—about the fiscal cliff deal (“deal”) passed by the Senate early Tuesday morning: “So, after a day, and week, and year filled with manufactured drama, the US Senate not only failed its only goal – reducing the US deficit – but also built a mountain range out of the molehill of budget talks.”
And if you’re in the mood for more good (“good”) news, her piece about the longterm unemployed and how a real deal likely wouldn’t help them anyway is a doozy (“The predicament of the long-term unemployed only has a passing relationship to the fiscal cliff. There happens to be no one in the government who can put their hand up and protect the unemployed”).
