“What I have seen in my interviews is that the working class feels a very strong sense of betrayal…”

March 23 Comments Off on “What I have seen in my interviews is that the working class feels a very strong sense of betrayal…” Category: Feed, Tumblr

“What I have seen in my interviews is that the working class feels a very strong sense of betrayal […] Betrayed by the institutions that should help them get ahead. They feel betrayed by school because they think it should have helped, and they were told it would, and they feel betrayed by work.”

–

Jennifer Silva, a sociologist at Bucknell University who studies changing class identities among millennials

via NBC.

“And then there’s everyone in the middle class. They don’t have much hope of wage growth.”

January 29 Comments Off on “And then there’s everyone in the middle class. They don’t have much hope of wage growth.” Category: Feed, Tumblr

“And then there’s everyone in the middle class. They don’t have much hope of wage growth.”

– Glenn Kelman, chief executive of Redfin, a real-estate brokerage in Seattle that operates in 25 states. Via WSJ – How a Two Tier Economy is Reshaping the US Marketplace.

“We pay banks for the privilege of fleecing us, a fact made obvious by the growing slice of corporate…”

September 29 Comments Off on “We pay banks for the privilege of fleecing us, a fact made obvious by the growing slice of corporate…” Category: Feed, Tumblr

“”We pay banks for the privilege of fleecing us, a fact made obvious by the growing slice of corporate profits generated by the financial sector. Employment in the financial sector hovers around 5 percent of the American workforce, while they skim a third of all corporate profits off the top. They create nothing and add nothing, so in essence, a massive chunk of American profit is made up of handling fees.””

– The big “middle class” rip-off: How a short sale taught me rich people’s ethics.

The Trade Tax, Fear Index, and Obama’s Common Man

January 14 Comments Off on The Trade Tax, Fear Index, and Obama’s Common Man Category: The Economy, UPIU

The latest proposal on the table from President-elect Obama’s advisers is taxing market trades. This is a spectacularly bad idea. In a recent article in The New York Times, op-ed columnist Bob Herbert laid out the reasons behind the recently proposed tax on “the sale or transfer of stocks, bonds and other financial assets, including the seemingly endless […]