asterisk2a + middleclass   23

Behind the Bond-Stock Divide Is a Big and Risky Bet on Central Banks - WSJ
The idea is that if stocks are rising, bond yields should be climbing too. Here's how to reconcile it. The answer is central banks. If rates are going to stay lower for longer; if more rounds of quantitative easing are coming; if new ways of easing are coming -- the rates should be going down and stocks moving higher. [...] It's about dividends paying more than bonds. 90% of the bond market universe is near 2% or lower. //&! http://www.zerohedge.com/news/2016-07-12/germany-about-sell-zero-coupon-10-year-bonds-first-time-ever //&! http://www.zerohedge.com/news/2016-07-13/we-just-found-out-who-has-been-buying-all-these-record-low-yielding-bonds - When your nation's bonds are trading with a record low 28bps negative yield (10Y JGBs), everything else in the world (aside from Swiss 10Y) is a relative 'value'...
bond  bubble  ZIRP  NIRP  QE  equity  bubble  hunt  for  yield  central  banks  BIS  Fed  BOE  ECB  BOJ  PBOC  secular  stagnation  wage  growth  output  gap  productivity  gap  squeezed  middle  class  working  poor  Precariat  inequality  Gini  coefficient  western  world  rising  middleclass  Asia  BRIC  income  distribution  tax  evasion  tax  avoidance  crony  capitalism  capitalism  in  crisis  capitalism  neoliberal  neoliberalism  globalisation  global  economy  globalization  free  trade  dividends  underinvestment  business  confidence  consumer  confidence  discretionary  spending  disposable  income  student  debt  consumer  debt  car  loan  property  bubble  speculative  bubble  speculative  bubbles  distortion  asset  allocation  austerity  AI  Robotics  automation  augmented  intelligence  Structural  Impediments  imbalance  unemployment  long-term  unemployment  skills  gap  skill-biased  technological  change  skills  shortage  economic  history  Brexit  technological  history  underemployed  underemployment  part-time  deflation  deflationary  JGB 
july 2016 by asterisk2a
Does The Myth of Meritocracy show us how to alleviate inequality?
No debate about social mobility is complete without reference to the supposedly halcyon days of the 1950s and 1960s. The class fluidity of those decades, however, was not the result of professions becoming more meritocratic. It was caused by an unprecedented rise in the number of middle-class jobs: there was more room at the top. [...] Bloodworth writes that 21st-century society is characterised by a dwindling of professional jobs and more people slipping downwards: there is “more room at the bottom”. [...] Globalisation has created what the economist Robert H Frank calls “winner-takes-all” markets
downward  mobility  social  mobility  income  mobility  inequality  Paul  Mason  book  post-capitalism  James  Bloodworth  Gini  coefficient  income  distribution  structural  unemployment  long-term  unemployment  skill  gap  skills  gap  skill  mismatch  skill-biased  technological  change  AI  artificial  intelligence  globalisation  globalization  rising  middleclass  squeezed  middle  class  BRIC  Manufacturing  economic  history  sociology  Brexit  Identitypolitics  Identitätspolitik  career  ladder  education  bubble  education  cost  autonomous  car  autonomous  cars  self-driving  cars  augmented  intelligence  Robotics  Robots  automation  neoclassical  economics  Chicago  School  trickle-down  economics  trickle-down  effect  1%  10%  20%  working  poor  Precariat  credit  card  credit  card  debt  consumerism  consumerist  austerity  bank  bailout  capitalism  in  crisis  neoliberal  neoliberalism  crony  capitalism  tax  evasion  tax  avoidance  Baby  Boomers  babyboomers  Elizabeth  Warren  Joseph  Stiglitz  poverty  trap  poverty  child  poverty  rentier  rent-seeking  winner  take  all  monopoly  monopsony  conglomerate  multinational  Toff  Privileged  Establishment  No  Representation  Politicians  career  politician  Centrist  meritocracy  meritocratic  plutocracy  oligarchy  capitalism 
july 2016 by asterisk2a
Alan Greenspan on Brexit, U.S. Economy, and Inflation (Full Interview) - YouTube
UK out of Euro Currency but part of free trade single market was best option on table. // lack of leadership for political union and fiscal union aka ever closer union. not just currency and trade union (free trade). // GET AT THE ROOT ISSUE; productivity, ageing population (entitlement crisis), stagnant wages, secular stagnation = desperate population // European banks some still burdened by sov debt crisis/NPL (= zombie banks) & NIRP & QE & lack of uptake in business & consumer loans. // no back-up to the ECB (balance sheet) yet. what happens if the EURO stops being a hard currency? get Greece out, is a liability. // EU can not go on in Status Quo indefinitely. ie funding southern states. States have to get on course of economic harmony! everyone has to give up something! // Precariat/Squeezed Middle Class/Social Mobility = creates desperate people. // Entitlements are a legal issues. Productivity and Growth Rates can't fund entitlements. = There will be a crisis. // Career Politicians won't touch it. // History (look at M2) this environment ends up in inflation. not time or data.
European  Union  Brexit  fiscal  Political  Union  ECB  Alan  Greenspan  Fed  Yanis  Varoufakis  Janet  Yellen  PIGS  sovereign  debt  crisis  secular  stagnation  productivity  gap  disposable  income  discretionary  spending  ageing  population  current  account  deficit  budget  deficit  GFC  entitlement  spending  Abenomics  monetary  policy  fiscal  policy  pension  obligation  babyboomers  Baby  Boomers  immigration  NIRP  ZIRP  QE  economic  history  Germany  Angela  Merkel  BOE  Mark  Carney  rising  middleclass  squeezed  middle  class  working  poor  Precariat  populism  demagogue  demagogy  Donald  Trump  western  world  savings  rate  Gini  coefficient  social  mobility  income  mobility  triple-lock  pension  pension  fund  pension  scheme  democracy  Career  Politicians  politician  output  gap  M2  inflation  targeting  M3  commodity  prices  global  economy 
june 2016 by asterisk2a
Buzzfeed reveals that Uber exec boasted of planning smear campaign against Pando EIC, Sarah Lacy | PandoDaily
Uber  Travis  Kalanick  personal  values  corporate  values  corporate  governance  corporate  culture  Hype  Hype  Cycle  transportation  public  transportation  ethical  machine  self-employment  middleman  Niedriglohn  lohndumping  Lohnzurückhaltung  Niedriglohnsektor  precarious  work  Precariat  Prekariat  working  poor  minimum  wage  Lyft  competitive  competitiveness  Silicon  Valley  squeezed  middle  class  middle  class  middleclass  crony  capitalism  profit  maximisation  exploitation  Wall  Street 
november 2014 by asterisk2a
Why Do Americans and Brits Have Different Accents? | When Did American and British Accents Diverge? | English Pronunciation | LiveScience
It was around the time of the American Revolution that non-rhotic speech came into use among the upper class in southern England, in and around London. According to John Algeo in "The Cambridge History of the English Language" (Cambridge University Press, 2001), this shift occurred because people of low birth rank who had become wealthy during the Industrial Revolution were seeking ways to distinguish themselves from other commoners; they cultivated the prestigious non-rhotic pronunciation in order to demonstrate their new upper-class status. [...] However, people in the north of England, Scotland and Ireland have largely maintained their traditional rhotic accents.
middleclass  society  English  Accent  differentiation  differentiate  working  poor  Revolutionary  War  American  English  Accent  working-class  Industrial  Revolution  British  Accent  history  pronunciation  Received  culture 
july 2013 by asterisk2a
The Next Domino: Australia Doubles Tax On Retirement Savings | Zero Hedge
How much do you trust your government? >> Portugal, Ireland, Hungary & Co. raiding savings of ordinary people. raiding long-term funds for short-term holes. Promises are there to be broken. Laws to be rewritten. >> BOJ putting a tax in form of currency debasement (forced inflation / debt monetization) on its savers and pensioners. >> the problem with current form of democracy is - the short-term thinking that went on for 70 years.
currency  debasement  Politics  Europe  transferring-wealth  pension  scheme  IRA  BOJ  political  folly  Cyprus  Australia  democracy  greatrecession  lostdecade  policy  folly  JGB  middleclass  2013  lostgeneration  short-term  thinking  trust  pension  fund  working  poor  confidence  wealth  management  Error  401k  bail-in  trustagent  austerity  middle  class  USA  PIIGS  greatdepression  pension 
april 2013 by asterisk2a
Ökonomen-Konferenz Hongkong: Warum wir immer mehr wollen - SPIEGEL ONLINE
Je größer unser Wohlstand, so das Fazit, umso größer der Anteil unserer Ausgaben, mit denen wir lediglich anderen Menschen nacheifern. [...] Werber wissen intuitiv: Das Versprechen von Status ist eines der wichtigsten Verkaufsargumente überhaupt. [...] Nachahmungstheorie des Kulturwissenschaftlers René Girard: Für ihn zählt der Drang von Menschen, andere in ihrem Verhalten zu imitieren, zu den Grundlagen der Zivilisation. [...] Wie Finanzmärkte neigen auch Konsumgütermärkte zu Spekulationsblasen >> Angewandt auf die Wirtschaftswissenschaften führt Girards Theorie zu beunruhigenden Erkenntnissen: Märkte für Konsumgüter tendieren nicht automatisch zu einem Gleichgewicht von Angebot und Nachfrage, wie gemeinhin angenommen, sondern zu einem immerwährenden Ungleichgewicht. "Ohne Knappheit gäbe es keine Nachfrage." ( http://www.youtube.com/watch?v=-eusHpPO0fI ) - Plays well into anthropology, evolution. Google "chimpanzee imitation"
complexity  advertising  speculative  bubble  western  lifestyle  Jean-Pierre  Dupuy  status  quo  middleclass  status  marketing  INET  society  microeconomics  disequilibrium  philosophy  advertisement  social  science  peterthiel  equilibrium  Nature  evolution  social  study  bubble  René  Girard  imitation  zombie  consumer  economics  western  society  consumerist  culture 
april 2013 by asterisk2a
The Political Changes that Transformed the American Dream - YouTube
For Pulitzer Prize-winning journalist Hedrick Smith, the American Dream depends upon the prosperity of middle class. Ray Suarez talks to Smith about his latest book, "Who Stole the American Dream?" for more on what needs to change to restore the American Dream, economically, politically and culturally.

> baby boomers heading for poor retirement, poverty, forced to live off social security
> increase in productivity kept going, but not wages in appropriate manner
> middle class economics - prosperity - dependent on power. power over time shifted to corporates who overshadow policy making in Washington with their lobbying.

+

Obama wanted to close the revolving door between corporates and Political Policy making in Washington, cutting off the force of the corporate lobby - he fail miserably by hiring from a pool of corporate thought leaders during his election campaign 2008 and while in office.

Capitalism ran wild. And when it was down, we fed it with bailouts to stand up again.
accountability  transparency  barackobama  presidency  government  governance  Politics  lobbyist  Lobbying  lobby  productivity  prosperity  middleclass  socialsecurity  pension  scheme  babyboomers  401k  book  economic  history  USA 
october 2012 by asterisk2a
Americans Facing More Inequality, More Debt and Now More Trouble? - YouTube
Middle Class, keeping up with the Jonses.

Did America's record-high level of economic inequality in 2007 help cause the financial crisis of 2008? With Americans' borrowing back on the rise and signs that economic inequality is growing, could there be another financial crisis in the near future? Paul Solman continues his series of reports on U.S. economic inequality.
income-gap  income  inequality  debt  debtoverhang  USA  public  private  economics  living-standard  household  crisis  credit  creditcrisis  GFC  subprime  middleclass  homeownership  creditcard  payday-loan 
august 2011 by asterisk2a
The Threat of 'Screwflation' - Barrons.com
The economic beating that the middle class has taken over the past 30 years, combined with the threat of inflation, is adding to the nation's miseries.

Back in 1980, the richest 1% of Americans captured 9% of national income. Today, the richest 1% receive about a quarter of national income.

On the expense side, there has been an acceleration in the rate of increase in commodity prices over the past several years. This rise falls more heavily on low- and middle-income families, who spend most of their money on the necessities of life. Add rising health care, education and other costs to commodity prices, and the result is a poor foundation for growth.
stagflation  USA  UK  greatrecession  recovery  2011  middleclass  inequality  rich  poor  economics  growth  economy  inflation  monetary  fiscal  policy  QE-2.0  QE  stimulus  presidency  barackobama 
june 2011 by asterisk2a
Losing Our Way - NYTimes.com
Welcome to America in the second decade of the 21st century. An army of long-term unemployed workers is spread across the land, the human fallout from the Great Recession and long years of misguided economic policies. Optimism is in short supply. The few jobs now being created too often pay a pittance, not nearly enough to pry open the doors to a middle-class standard of living.

The U.S. has not just misplaced its priorities. When the most powerful country ever to inhabit the earth finds it so easy to plunge into the horror of warfare but almost impossible to find adequate work for its people or to properly educate its young, it has lost its way entirely.

The current maldistribution of wealth is also scandalous. In 2009, the richest 5 percent claimed 63.5 percent of the nation’s wealth. The overwhelming majority, the bottom 80 percent, collectively held just 12.8 percent.
USA  lostdecade  middleclass  decade  greatrecession  monetary  fiscal  policy  presidency  barackobama  war  Iraq  Afghanistan  Libya  Fed  society  culture  inequality  poor  rich  politics  leadership  GE  jeffreyimmelt  tax  taxevasion 
march 2011 by asterisk2a
Generation 30: Hört auf zu jammern! - Familie - Gesellschaft - FAZ.NET
Warum also dieses Unwohlsein? Wie fügen sich die ökonomischen Statistiken zu der latenten Unzufriedenheit? „Das ist ein Wahrnehmungsproblem“, so lautet die nüchterne Antwort des Soziologen Heinz Bude. „Es hat noch nie eine Generation gegeben, die so wenig an ihre eigenen Chancen glaubt wie diese.“

Zudem verweist Generationenforscher Bude auf eine scheinbar paradoxe Gesetzmäßigkeit in Bildungskarrieren: Die heute 30-Jährigen sind Kinder einer Aufsteigergeneration. Kinder von Aufsteigern schaffen es in der Regel aber nicht, abermals die eigenen Eltern zu übertreffen.

Zurückzubleiben hinter den Eltern tut weh, egal wie hoch und angenehm das Niveau tatsächlich ist - Eltern wie Kinder empfinden dies als Versagen. Eine Schmach, die es um jeden Preis zu vermeiden gilt.

„Die 30-Jährigen starten reich in das Berufsleben. Das ist ein vergiftetes Geschenk“, sagt der Philosoph Dieter Thomä.
germany  paradox  generation  rich  middleclass  society  parents 
july 2010 by asterisk2a
Video - Man With a Plan - WSJ.com
Finance professor Raghuram Rajan saw the global credit crisis coming. Now, he sees ways to avoid a repetition of the big meltdown, reports Barron's Clare McKeen
outlook  income  distribution  middleclass  usa  germany  wages  wage  future  trends  rich  taxation  policy  mistake  economic 
july 2010 by asterisk2a
Summers: GDP ‘Favorable,’ but More Effort Needed - Real Time Economics - WSJ
But he said the administration isn’t satisfied, and that President Barack Obama is focused on tackling the “profoundly serious” problems of unemployment and weak income growth for the middle class cited in the State of the Union address.

For the dollar to remain a reserve currency, however, U.S. policymakers must pursue measures that create strong fundamentals, the former Treasury secretary said.

“That’s why the emphasis on budget deficit reduction was such an important component of the president’s State of the Union [on Wednesday],” said Summers.
middleclass  USA  recession  2009  2010  GDP  larrysummers  unemployment  income  barackobama  presidency  recovery 
january 2010 by asterisk2a
Looming Credit Crunch: Merkel Government Urges Banks to Lend More - SPIEGEL ONLINE - News - International
But now many are warning it is too early to celebrate. Fears are running high that the recovery could be derailed by a possible credit crunch, with Germany's all-important small- and medium-sized companies finding it increasingly hard to access loans.

Chancellor Angela Merkel met with employers groups, labor unions and more than 30 company bosses on Wednesday to evaluate the risks to Germany's economic health and look at how to boost access to finance.
2010  germany  recession  creditcrunch  lending  creditline  middleclass  SMB  smallbusiness  mittelstand 
december 2009 by asterisk2a
Elizabeth Warren: America Without a Middle Class
Today, one in five Americans is unemployed, underemployed or just plain out of work. One in nine families can't make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. More than 120,000 families are filing for bankruptcy every month. The economic crisis has wiped more than $5 trillion from pensions and savings, has left family balance sheets upside down, and threatens to put ten million homeowners out on the street.
middleclass  USA  unemployment  recession  creditcard  bankruptcy  foodstamps  foreclosure  savings  2009  2010  infographics 
december 2009 by asterisk2a

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