"... if you think public pension plans are having a rough time, imagine what it is like for ordinary people (actually, most of you don’t have to imagine)."
"The general burden of the American worker is the daily task of squaring the difference between the booming economy reported by the government bureaus and the dreary economy reported in their biweekly paychecks."
As one would expect, pay/salary was at the top of the list across all respondents but what followed varied by generation and gender, with some surprising shifts.
The latest Flow of Funds report from the Fed shows a surprising revision: instead of buying corporate bonds as previously disclosed, Pension funds were buying Treasurys explaining the relentless bid for the long end.
... while the “median” income has broken out to all-time highs, the reality is that for the vast majority of Americans there has been little improvement.
Bankers' pay accounted for one-fifth of the total taxable income earned in New York State last year, even as just 5% of workers were employed in the financial services industry...
"There is a big movement of working-class women brewing. They are banking that in the age of #MeToo customers will not tolerate this kind of behavior."
"One of most fascinating characteristics of progressives (also known as 'liberals') is the blindness they display to the adverse consequences of their very own government programs."
