Fortune's Rick Ungar has an interesting article on Chris Christie's collapsing (collapsed?) presidential hopes. The interesting point of the article is what Ungar has to say about minimum wage. In a few words he makes it clear that at least 2/3 of our nation's more than 3.5 million minimum wage earners are young women.
What's interesting here is how our minimum wage demographics has changed.
FiveThirtyEight's Ben Casselman writes that in 1990 nearly 25 percent of minimum wage earners were teenagers, or people trying to supplement their income. Today, just 13 percent of our nation's minimum wage earners fit this category. Taking this to another level, census data shows that more than half of all workers who earn below President Obama's proposed $10.10 minimum wage are trying to support themselves.
In spite of what pundits and conservative politicians are saying, minimum wage is not an opening door entry wage for America's youth. It's a way of life anchor that's weighing down America's working poor.
So, once again, a rising tide does not lift all boats. With record corporate earnings and profits - especially in the financial sector - it's clear that tax cuts for the rich (a.k.a. "trickle down" economics) is a farce. It always has been.
How we punish the poor for being poor: The case of predatory subprime auto loans and financial fee games are reviewed here in Talk Poverty. It's really just wealth extraction, with the poor getting the short end of the stick (again). Here's John Oliver's humorous but sad take on payday loans ...
Quick, what did Iraq's Saddam Hussein, Venezuela's Hugo Chavez, and France's Christophe de Margerie, the now former CEO of Total have in common? They all pondered a world where petroleum was no longer paid for in U.S. dollars.
One more thing. They're all dead now.
The Russian Times is reporting that Christophe de Margerie was among four people killed in a business jet crash in Moscow. The plane hit a snowplow on take-off.
While initial reports suggest that the reasons for the plane crash seem "obvious" the fact that Christophe de Margerie did not fully embrace the petrodollar politics surrounding global oil markets raises many issues that the conspiracy theory buffs will be sure to jump on.