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View Diary: First-time claims for unemployment benefits rises steeply after steeply dropping last week. (23 comments)

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  •  Fun 50% facts (18+ / 0-)

    Half of all Americans are one financial shock away from poverty

    The bottom 50% of Americans own 1% of the nations wealth

    Half of all Americans die with no financial assets.

    Proud to live in America where at least I know I'm free.

    A standing army is like a standing member. It's an excellent assurance of domestic tranquility, but a dangerous temptation to foreign adventure. Elbridge Gerry - Constitutional Convention (1787)

    by No Exit on Thu Jan 31, 2013 at 08:50:50 AM PST

    •  Only half? (0+ / 0-)

      Or does that not count Americans already in poverty, which is around 15%, or was as of september 2011, the most recent stats I can find.

    •  A couple of devils advocate comments: (0+ / 0-)

      1. Most Americans in their young adult years creep forward a decade or more "one financial shock away from poverty" or, IOW, they're starting out. Most financially secure people lived the first third or even half of their lives from check to check.

      2. To die with no financial assets is a key goal of good retirement planning, or IOW, having exactly enough to live out one's years to the end and still spend enough in your lifetime to have the quality of life one wishes.

      3. Around 60% of all Americans are not in the workforce (e.g., children, elderly, retirees, disabled, unemployed) and are dependents of either other working adults, living "off the grid", or recipients of federal transfer payments. Therefore it's impossible to find the meaning or value of the "The bottom 50% of Americans own 1% of the nations wealth" statement.

      None of my comments is meant to excuse wealth or income inequality, a primary and growing fatal flaw in the US economy, beyond its immorality.

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