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The Middle Class Is Poorer Than It Has Been in 43 Years — Dollars and Sense

Man with no money
Comstock

The median net worth of working-class Americans is now lingering at a 43-year low of $57,000. According to New York University economics professor Edward N. Wolff, the American population is poorer and less stable than it was in 1969, with nearly 40 percent of all households having less than $10,000 in assets. This includes those households with what the financial world refers to as “negative assets”—or what the rest of us simply call debt.

So, what happened to all of the money? It was absorbed by the wealthiest 1 percent of American households, whose average wealth has increased by nearly 71 percent. Everyone else has grown poorer as a result, dragging down the median amount.

Unfortunately, this trend will not likely go away anytime in the near future. With the average CEO now making a staggering 380 times as much as his typical worker, those workers will be spending less and less, and requiring more and more from government social spending. If consumer spending, which accounts for about 70 percent of GDP, continues to slow, the economy may be in for some long-term trouble.

[Daily Finance]

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Reward Offered In Blinn College Student’s Murder

Blinn College is a small school in Brenham, about an hour and a half outside of Houston.  After a male student was murdered there last month, police are asking for tips as they try to figure out who killed him.  And there's a reward in the case now.

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Category: East Texas News, News Tags:
Getty Images
Getty Images
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Inmate Weddings Are About To Increase In Texas

Up until now, if an inmate in a Texas prison wanted to get married, someone else had to stand in for the prisoner during a ceremony held somewhere outside the prison. That's about to change.

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Abby Snodgrass
WSB
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Teen’s Miraculous Act Saves Baby Who Stopped Breathing at Walmart

A fast-acting teenager became a hero after she stepped in to save the life of a baby.

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Category: News
drinking
Photo: John Lund/Annabelle Breakey
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Where Does Texas Rank in the ‘Most Drunk’ States Survey?

The folks over at Bloomberg just released a survey of the 'Most Drunk' states in the U.S. Where did the Lone Star State wind up?

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Category: East Texas News, Texas News Tags:
Le'Veon Bell, LeVeon Bell
Getty Images
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Le’Veon Bell Leads Steelers Past Titans, 27-24

Le'Veon Bell ran for 204 yards and a touchdown, and the Pittsburgh Steelers rallied past the Tennessee Titans, 27-24, in Nashville on Monday night.

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Category: News, Sports
Waiting Room
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Now Is the Time to Sign Up for Health Insurance

Last year just a handful of people signed up for health insurance on the first day of the national open enrollment period, and this year as signups began on Saturday, the federal government says 100,000 people signed up.

The open enrollment period this year is a lot shorter, so don't be caught by surprise.

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Johnny Depp Hollywood Film Awards
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Watch Johnny Depp’s Weird, Drunken Speech at the Hollywood Film Awards

So this is why we don't see Johnny Depp on stage very often (ever?) at awards shows. Last night at the Hollywood Film Awards, Depp introduced the documentary ‘Supermensch,’ about legendary talent manager Shep Gordon, and immediately made it pretty clear that he was not sober-minded. “That's the weirdest microphone I've ever seen in my life,” he slurs—except, you know, it's just a regular microphone.

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Civil War title treatment
Marvel
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‘Captain America: Civil War’ Casts Daniel Bruhl as Its Villain

Even though the upcoming third ‘Captain America’ movie is based on Marvel’s ‘Civil War’ mini-series, where the heroes of the Marvel Universe faced off with one another in a battle over their right to privacy, the ‘Civil War’ film still needs a villain for Chris Evans’ Cap and Robert Downey Jr.’s Iron Man (and new addition Black Panther, played by Chadwick Boseman) to face off with as well. Although they didn’t reveal the identity of his character, Deadline reports that Daniel Bruhl will play the guy to pester the feuding Avengers.

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Police-Lights
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Police Look For Clues After Texas College Student Is Murdered

Blinn College is a small school in Brenham, about an hour and a half outside of Houston.

After a male student was murdered there last month, police are asking for tips as they try to figure out who killed him.

Read More|Comment

Ryan Tannehill
Getty Images
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Miami Dolphins Rally Past Buffalo Bills, 22-9

Ryan Tannehill threw two touchdown passes, and the Miami Dolphins surged past the Buffalo Bills, 22-9, in Florida on Thursday night.

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Category: News, Sports

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