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Tag: Savings

Why the Racial Wealth Gap Is Widening—and Some Steps to Reverse It (Video)

By Robert Reich

Unless you earn enough to be able to begin to accumulate wealth, you can’t get ahead. That’s why kids from low-income families start out in life at a huge disadvantage—especially children of color.

Posted on May 2, 2016 WATCH & LISTEN


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An Open Letter to Fed Chairwoman Yellen From America’s Beleaguered Savers

“Start imagining what we, the savers, have to endure because of plutocratic, crony capitalism for which the Federal Reserve has long been a leading Tribune.”

Posted on Oct 31, 2015 READ MORE



The Insider’s Economic Dictionary: S Is for Saint-Simon

Sex: The topic that has proved strong enough to displace religious and academic discussion about property and wealth as the driving force in human affairs and evolution.

Posted on Aug 9, 2014 READ MORE


Economic Mood Swing









Posted on Oct 1, 2010 ENLARGE


401-GOP









Posted on Oct 26, 2008 ENLARGE


piggy bank
astoriafederal.com

Americans Prefer Swiping to Saving

The annual savings rate dropped to the lowest level in 74 years, the Commerce Department has reported. On average, Americans saved a “negative 1 percent” in 2006, meaning people not only didn’t save but dipped into their savings and borrowed in order to spend more than their income.

Posted on Feb 1, 2007 READ MORE


Family Savings Look Scary Across the Board

The Federal Reserve finds that the average family has only about $3,800 in the bank, no retirement account and no stocks or bonds, and can’t pay off a $2,200 credit card balance.
Pretty grim…. But don’t fear. Tax cuts for the rich will make everything all better.

Posted on Mar 5, 2006 READ MORE


New York Times Roundup

The Gray Lady publishes a slew of important and underreported stories its Saturday edition:

  • Two federal courts strike down the Partial Birth Abortion Act because it doesn’t have an exception for the life of the mother.
  • Yahoo and AOL are going to introduce digital postage stamps that companies can buy to ensure delivery of their e-mail.
  • Most Internet users have no idea how easy it is for courts to get ahold of their personal information.
  • The personal savings rate of Americans falls below zero for the first time since the Great Depression.
  • Now James Frey’s editor says that he, too, was fooled by the fabricating fabulist.

  • Posted on Feb 4, 2006 READ MORE


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