Allison Schrager: There are worse things than rising inequality
There has been a huge growth in income and wealth in the U.S. in the last 50 years. In 1967, 5% of Americans earned or received more than $150,000. Now more than 30% do. The income distribution curve has flattened as more people have moved into the upper part of the income distribution. Neoliberal economic policies have made most Americans …
Nebraskans voted for Donald Trump in 2024 and Republicans since forever. Now the state's economy is collapsing. Tyson Foods is closing its beef processing plant in Lexington and cutting another 1,700 jobs at its plant in Amarillo, Texas. The cuts will slash the nation’s beef processing capacity by up to 9%. Republicans deny the existence of climate change.
Why you may not want lower prices as much as you think you do
There are exceptions to the rule that everyone wants to lower prices. The average price of a new car, for example, is $50,000. The most recent price of the most recent year is 25 percent higher than it was at the start of the last year.
The 10-year Treasury yield settled at 4.017%, down 0.050 or -1.23%. Lower yields reduce the appeal of government paper relative to a non-yielding asset like gold. Central bank gold buying hit 634 tonnes through Q3 — up 28% from the previous quarter. The bias stays bullish as long as the market expects a December rate cut.
Hard lives in California’s fields: ‘The American dream eats us alive’
As Trump has directed ICE and Border Patrol to nab more undocumented immigrants, dramatic images have focused on raids in cities. Brittny Mejia joined a crew harvesting watermelons and cantaloupes in rural California. She was the only American-born picker there. Some of the workers have legal status.
Study shows negative attitudes toward the news media among 13- to 18-year-old Americans. Many teens don't follow news regularly or learn in school about the purpose of journalism. Many of Lily Ogburn's classmates get their information from social media and their parents didn't watch or read news reports.
Expect a tale of two holiday seasons as the well-off spend and the rest pull back | Gene Marks
This year's holiday season will be two holiday seasons. If your business caters to higher-income individuals or if you're located in a wealthier part of the country, you'll probably have a decent holiday season. In some parts of the U.S. the average household income is over $125,000 - almost $41,000 higher than the national average. For the rest of the …