Wednesday, February 12, 2020

WORKING FOR A LIVING ... NOT NECESSARILY GOOD IN AMERICA


According to Brookings, more than 53 million Americans – or about 44% of the workforce – qualify as “low-wage” income earners. Their median hourly wages are $10.22, which means they earn about $18,000 per year. 

In other news, U.S. households are now sitting on a record $14 trillion in mortgage, credit card, student loan, and other forms of debt. This is about $1.3 trillion higher than the previous peak, set in 2008, right before the market collapse.


Oh yeah, with a "booming" stock market, we're supposed to believe everything's just fine. 

OK, I guess I feel a little better ... 😐.

- Mark

Silver lining? You be the judge ... the ratio of "required household debt payments" (minimum payments) is lower than it was before the 2008 market collapse (12.8% to 9.69%). If you're not impressed you're not alone.

No comments:

Post a Comment