Category Archives: Middle Class

What if Housing is Done for a Generation?

From twitter @mark_neely “What if Housing is Done for a Generation?” by Tyler Durden points to some pretty scary economics (I take exception to his federal deficit talk – it isn’t the issue – but in the main my sense is he’s on to something).  A key quote: “Without going into too much detail, we […]

Median American Household Income Dropping Since 70s

Today’s Bruce Bartlett post on Economix “Fanning the Flames of Class Warfare” gives some interesting basic information – using a calculator from the Economic History Association we can see that the median American family income in Bartlett’s example of 1974 ($13,000) ranges in income or wealth value (depending on what type of value you’re interested […]

Busking Behavior – Neil Young, Joshua Bell and the Case for Public Art

This video of Neil Young busking in Glasgow in 1976 incognito before a concert is worth a look (especially if you’re a fan of his early work like me) It reminds me of the Washington Post’s experiment with the great violinist Joshua Bell (very much worth reading/seeing the video).  In the experiment Bell, one of […]

Summers Memo – Can’t Get Passed the Basics

The bottom line for me with Summers memo is that when it came to bailing out the American people – who were facing a massive financial crisis often through no fault of their own – there were all sorts of reasons not to go full-bore, and ultimately those reasons prevailed. Barack Obama was elected president […]

Spare Change? The Stimulus And Bailouts Are Too Valuable

Almost absent from the dominant discussion of the federal stimulus package (and bailouts) is any attempt at progressive change that goes beyond the surface of ‘what we buy.’ I spoke yesterday about tying taxpayer expenditures to a living wage – but I’ve been thinking about this type of thing for a while agreeing with Matthew […]

Local Version – If You Like What’s Happening, Vote Republican

It’s interesting that even in local races, in the face of a hiring freeze in Naperville and a budget requiring cuts, in the face of a recent county-level budget meltdown requiring record property tax increases, etc. that the claim is made that things are going great in Naperville and DuPage and to continue them, continue […]

New Study Shows Wealth Gains Over Last Two Decades Lost In Housing Bubble

[Hat tip Doug May] The Center for Economic and Policy Research (CEPR) study by Dean Baker and David Rosnick, “The Impact of the Housing Crash on Family Wealth.” shows that over the last two decades (from 1989 to the projected 2009) median wealth for people age 35 – 54 was flat or declining assuming another […]

One Of The More Powerful Critical Pieces On America I’ve Read In A Long Time

Charlie Pierce has written an extremely powerful piece, “The Cynic and Senator Obama,” in this month’s Esquire. Whatever you may think of it – it’s an important criticism, made more moving by Pierce’s love for an America lost (and feared forever lost). I got there via Ezra Klein’s post, which is also well worth a […]

Good Paying American Jobs For Americans

“I’ve been ungodly blessed, you know, I just happened to be born at the right time in the right place. I tell people if I’d been born a few thousand years ago I would have been some animal’s lunch, because I can’t run very fast or jump very high. Or if I’d been born in […]

Was Charlie Gibson Right About $200,000 Being A “Middle-Class” Income?

The short answer is “no” – and Media Matters, Matthew Yglesias and others have properly taken news anchor Charles Gibson to task for suggesting that $200,000 is a “middle-class” income. But even if Gibson is wrong about “two professors” at St. Anselm College making that amount, or was wrong because, as Media Matters points out, […]