As we celebrate Occupy Wall Street’s first birthday, the movement's pivoted from financial regulation to focus on crushing consumer debt. While reforming debt is crucial (particularly student debt), finance remains an imminent threat to the American economy. We shouldn't forget it.
Four years ago today, Lehman Brothers collapsed as Hank Paulson and his colleagues made the fateful decision that free market principles demanded that at least one bank crippled by the deteriorating financial system had to be sacrificed at the altar of moral hazard. These “deciders” had no idea of the firestorm they were igniting. They did not foresee that the financial system that had evolved during 30 years of deregulation (based on specious economic theory and ideology) was so interconnected that it would collapse like a house of cards. Within a few weeks, the U.S.
A study by Demos, a liberal research center, found that a median-income couple that invested in 401(k)’s for 40 years with fees averaging 1.6 percent a year would achieve $354,850 in assets at average savings rates, but only after paying $154,794 in investment fees.
Elisabeth Badinter is picking a fight with her book The Conflict, in which she demonizes pretty much every form of maternal bonding. And I was pleased to see Sarah Blustain give it to her in “Mère Knows Best”, rightly mocking Badinter’s attacks on social science, breast-feeding, and ecology. No writer should get away with defending the cancer-causing chemical BPA in the name of feminism, and Blustain doesn’t let her.
Something that you hear about quite a lot these days is the "all of the above" energy plan. The phrase is in both party platforms with the general idea being that our energy needs should be met by using all forms of energy available -- coal, oil, gas, nuclear, renewables, biofuels, etc. Diversifying our energy sources and moving away from strictly relying on fossil fuels is a good idea.
NEW YORK – As millions of young adults begin their fall semesters across the nation, new findings from a national survey by policy center Demos reveal the relationship between college costs and credit card debt, and its impact on students and their parents.
Give states additional Child Care and Development Block Grant funding to double the number of children served by child care assistance, make the federal Child and Dependent Care Tax Credit refundable, and expand Head Start and Early Head Start.
Home ownership is commonly understood as the quintessential marker of having arrived in the middle class: a family’s home is often the single largest asset that they own and has traditionally served as an important vehicle for wealth accumulation and economic security.
The United States needs to be reimagined. A recent study from the Pew Research Center tells us that in economic terms the middle class "has suffered its worst decade in modern history." It's shrinking.
With jobs scarce, wages declining and the nation's wealth concentrating ever more intensely at the top, the middle class has shrunk in size for the first time since World War II.
Many Florida families have been paying up to 25 percent of median income for public in-state college costs — out of reach for some middle-class parents who have taken recent pay cuts or lost jobs, according to a new study.
Despite some rain showers, over 60 percent of the country is still suffering from drought conditions and nearly a quarter is suffering from extreme or exceptional drought. We’ve detailed how this has impacted agriculture and ranching and over 60 percent of Iowa’s land is still classified as being in either extreme or exceptional drought.
MIAMI – In just three years Florida’s higher education funding per student decreased 40 percent, according to a new report by national public policy center Demos and the Florida-based Research Institute on Social and Economic Policy (RISEP). As a direct result, Floridian families now spend 25% of median income on the cost of a single year of attendance at a public four-year college. The situation is only looking grimmer, with the recent $300 million cut to public four-year universities.
Some eight years ago, I was at a presentation by Vanguard founder Jack Bogle at a business journalists' conference in Denver, and when his PowerPoint crashed, and he had to use transparencies on a vintage 20th-century overheard projector. After the presentation, he let me keep them, and they still serve as a sort of Rosetta Stone for me for enlightened investing.
Investors who were paying attention got a cold slap of reality this spring when the progressive think tank Demos released a study showing that the median household could expect to pay more than $150,000 in 401(k) fees over the course of a working lifetime, or about a third of potential investment returns. What's more, about two-thirds of 401(k) investors had no idea that they were paying such fees.
Washington, DC - The United States Student Association (“USSA”), the nation’s oldest and largest student-run, student-led organization, yesterday filed a brief amicus curiae supporting the constitutionality of the University of Texas’ undergraduate admissions program, which is being challenged before the U.S. Supreme Court in Fisher v. University of Texas, No. 11-345. USSA is comprised of more than four million students with diverse backgrounds who are currently enrolled in American colleges and universities.
When I was a student, my English-major friends warned me that economists were people who didn’t have enough personality to become accountants. It seemed like a terrible accusation at the time. Today, I worry less about the personality than the efficacy of both professions.