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Move Over Mexico: China Now Sends Most Immigrants to US – RALPH TURCHIANO

China has replaced Mexico as the top country of origin for immigrants to the United States, according to a new review of 2013 immigration data. The American Census Bureau study, conducted primarily by statistician/demographer Eric Jensen, was based on annual immigration data collected from the years 2000 through to 2013. It found that of 1,201,000 immigrants in the US, 147,000 …

housing costs

1 in 4 US Renters Must Use Half Their Pay for Housing Costs – JOSH BOAK

More than one in four U.S. renters have to use at least half their family income to pay for housing and utilities. That’s the finding of an analysis of Census data by Enterprise Community Partners, a nonprofit that helps finance affordable housing. The number of such households has jumped 26 percent to 11.25 million since 2007. Since the end of …

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Death Of The Middle Class: Homeownership Rate Drops To 29 Year Low As Average Rent Hits Record High – Tyler Durden

Overnight Gallup released its latest survey which confirmed just how dead the American Dream has become for tens if not hundreds of millions of Americans. According to the poll, the number of Americans who do not currently own a home and say they do not think they will buy a home in “the foreseeable future,” has risen by one third to 41%, vs. …

Why So Many Americans Feel So Powerless – ROBERT REICH

A security guard recently told me he didn’t know how much he’d be earning from week to week because his firm kept changing his schedule and his pay. “They just don’t care,” he said. A traveler I met in the Dallas Fort-Worth Airport last week said she’d been there eight hours but the airline responsible for her trip wouldn’t help …

Trees

Plants may not protect us against climate change – Tim Wogan

Plants are one of the last bulwarks against climate change. They feed on carbon dioxide, growing faster and absorbing more of the greenhouse gas as humans produce it. But a new study finds that limited nutrients may keep plants from growing as fast as scientists thought, leading to more global warming than some climate models had predicted by 2100. Plants …

federal reserve

How the Federal Reserve Is Destroying Your Economic Future – Lynn Stuart Parramore

When it comes to what goes on in the marble corridors of the Federal Reserve, Americans tend to be suspicious. For different reasons, both the right and the left have challenged Fed policies aimed at bolstering the economy in the wake of the Great Recession. In two papers for the Institute of New Economic Thinking’s Working Group on the Political Economy …

The US Boom That Never Was – DEAN BAKER

The Labor Department reported the U.S. economy created 126,000 jobs in March. This was a sharp slowdown from the 290,000 average over the prior three months. This relatively weak jobs report led many economic analysts to comment that the economy may not be as strong as they had believed. This reassessment is welcome, but it really raises the question of …

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Inequality or Living Standards: Which Matters More? – Max Roser, Brian Nolan, Stefan Thewissen

For many years inequality in income and wealth received little attention in public debate and was only a minority interest in the economics profession. GDP per capita was widely considered to be a satisfactory indicator of economic prosperity. Yet, inequality has now become the focus of remarkably wide-ranging attention, from Davos and the State of the Union address to academic …

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We millennials lack a roadmap to adulthood

Life is often referred to as a “highway”, to borrow from Tom Cochrane, and for my generation that hasn’t changed. “Adulthood today lacks a well-defined roadmap”, writes Steven Mintz, in his forthcoming book The Prime of Life. “Today, individuals must define or negotiate their roles and relationships without clear rules or precedents to follow”. This is especially true for us …

food inflation

Food inflation on the rise – list

If you’ve read any economic news lately, you’ve probably been treated to a host of stories touting a “strong” U.S. recovery, really low unemployment, and very little inflation. And, if you’re like most working class Americans, you’ve probably read those stories while shaking your head in disbelief and wondering if the writers are talking about people in another country. Yes, …