Gallup

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These Are The Top Financial Concerns Of Ordinary Americans





While institutional investors and money managers have a very specific list of worries when it comes to their "financial concerns" such as Fear Of Missing Out (FOMO), monthly/quarterly performance and redemption requests, losing top traders, what the year end bonus will be, order fill slippage, being frontrun by HFT algos, what the Fed chairwoman may say any given day, whether it is 3:30pm or if it is a Tuesday, ordinary Americans have a far simpler list of concerns. According to a recent Gallup poll, the one thing that has most Americans very/moderately worried is "whether or not they have enough money for retirement."

 
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Average Retirement Age In America Hits Record High





The average age at which U.S. retirees report retiring is 62, the highest Gallup has found since first asking Americans this question in 1991. While not a total surprise, given our previous discussion of the rise in employment that is so focused on the elder cohorts of society as they smash headlong into the realization that they have no retirement plan. As we pointed out here, the typical worker near retirement only has about 2 years of replacement income saved, or about 15 years short of the median lifespan post-retirement. What is perhaps more worrisome is the rapid rise that Gallup notes in the last few years, as we have pointed out in the past that in fact, over 60% of workers accumulated more debt than they contributed to retirement savings between 2010 and 2011.

 
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12 Numbers Which Prove That Americans Are Sick And Tired Of Politics As Usual





The American people are increasingly waking up to the fact that nothing ever seems to change in Washington D.C. no matter which political party is in power.  In fact, as you will see later on in this article, an all-time high 53 percent of all Americans believe that neither party "represents the American people". The mainstream media would have us believe that the Republicans and the Democrats are constantly fighting like cats and dogs, but the truth is that the Republicans want to take us to the same place that the Democrats want to take us - just a little more slowly perhaps. In the final analysis, it is hard to be optimistic about a political solution to any of our major problems in the near future.  Most of our politicians are deeply corrupt, the American people are incredibly angry and are deeply divided, and the vast majority of campaigns for federal office are won by the candidate that raises the most money.

 
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The Middle Class In Canada Is Now Doing Better Than The Middle Class In America





For most of Canada's existence, it has been regarded as the weak neighbor to the north by most Americans.  Well, that has changed dramatically over the past decade or so.  Back in the year 2000, middle class Canadians were earning much less than middle class Americans, but since then there has been a dramatic shift.  At this point, middle class Canadians are actually earning more than middle class Americans are.  The Canadian economy has been booming thanks to a rapidly growing oil industry, and meanwhile the U.S. middle class has been steadily shrinking.  If current trends continue, a whole bunch of other countries are going to start passing us too.  The era of the "great U.S. middle class" is rapidly coming to a bitter end.

 
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Keynesian Knightmare: US Savers Outnumber Spenders By Record Numbers





"Janet, we have a problem," is the resoundingly loud message from the latest Gallup poll of Americans preference (and relative enjoyment) of "saving" vs. "spending". It seems, despite all the hoop-la and exuberance about an 'economic recovery' that is pent-up due to weather but about to break out to escape velocity, the majority of Americans continue to enjoy saving money more than spending it, by 62% to 34%. The 2014 saving-spending gap is the one of the widest since Gallup began tracking Americans' preferences in 2001. How long before a discussion of negative rates re-appears as the rich and powerful Oz-ians contemplate the latest effort to 'change' people's mass psychology...

 
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Consumer Spending "Recovery" Stalls As Pent-Up Demand Fails To Appear





For the first time since the 'recovery' began, Gallup reports that consumer's average daily spending flatlined year-over-year. As Gallup concludes, at a daily rate of $87, Americans' average daily spending in March looks positive by comparison to spending over the past five years. But the stall in spending, both month-over-month and compared with a year ago, most likely signals a continuation of the lackluster retail sales seen so far in 2014. While government data suggested that retail sales rebounded in February (though still the weakest YoY since Nov 2009), the Gallup data appears to confirm the post-weather pent-up-demand has failed to arrive.

 
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30 Survey Results That Sound False But Are Actually True





You will be shocked at what some Americans actually believe.

 
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19 Signs That The U.S. Consumer Is Tapped Out





You can't get blood out of a rock.  Traditionally the United States has had a consumer-driven economy, but now years of declining incomes and rising debts are really starting to catch up with us.  In order to have an economy that is dependent on consumer spending, you need to have a large middle class.  Unfortunately, the U.S. middle class is steadily shrinking, and unless that trend is reversed we are going to see massive economic changes in this country.  Incomes are going down, the cost of living is going up, and debts are skyrocketing.  The following are 19 signs that the U.S. consumer is tapped out...

 
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55 Things About America You May Not Know





Is America the greatest nation on the planet? The reality is that the United States is in a deep state of decline, and it is getting harder to deny that fact with each passing day.

 
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The Russian Perspective: "There Will Be War In Ukraine"





"Will there be war in Ukraine? I am afraid so. After all, the extremists who seized power in Kiev want to see a bloodbath. Only fear for their own lives might stop them from inciting such a conflict... Russia will not annex Crimea. It has enough territory already.

At the same time, however, it will also not stand by passively while Russophobic and neo-Nazi gangs hold the people of Crimea, Kharkiv and Donetsk at their mercy."

 
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Futures Tread Record Territory Water Following Overnight China, Ukraine Fireworks





In addition to the already noted fireworks out of China, where the Yuan saw the biggest daily plunge since 2008 and the ongoing and very rapid newsflow out of the Ukraine, focus this morning was very much of the latest Eurozone CPI data, which despite matching previous low levels, came in above expectations and in turn resulted in an aggressive unwind of short-EUR bets as market participants were forced to re-asses the likelihood of more easing by the ECB. Still, even though the Euribor curve bear steepened and Bunds came under significant selling pressure, the EONIA forward curve remained inverted, signifying that there is still a degree of apprehension over what is unarguably very low inflation data.

 
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HAA HAA: Will Another Creditanstalt Be Revealed Once The Hypo Alpe Aldria "Black Box" Is Opened?





It would indeed be supremely ironic if the "strong" foreign law bond indenture would be tested, and breached, not by Greek bonds, as so many expected in late 2011 and early 2012, but by one of the last contries in Europe which is still AAA-rated. We would find it less ironic if the next leg of the global financial crisis was once again unleashed by an Austrian bank: after all history does rhyme...

 
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Americans Are Angrier & More Frustrated Than Ever: 19 Furious Facts





Have you noticed that people are becoming angrier?  You can see it everywhere – in our homes, in our schools, in our workplaces, in our television shows, in our movies, and certainly in Washington.  In fact, many have said that there is an “epidemic” of anger in America today.  And it is undeniably true.  As you will see below, a whole host of surveys and opinion polls show that America has become a seething cauldron of anger and frustration unlike anything that we have ever seen before. The very fabric of our society is coming apart at the seams and the thin veneer of civilization that we all take for granted is beginning to disappear.  What is America going to look like if we continue to go even farther down this road?

 
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The True State Of The Economy: Record Number Of College Graduates Live In Their Parents' Basement





Scratch one more bullish thesis for the housing recovery, and the economic recovery in general.

 
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