The Middle Class Is Poorer Than It Has Been in 43 Years — Dollars and Sense
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.
‘Sixty for Sixty’ Campaign for George Strait Falls Short
May 18, 2013 4:00 AM George Strait turns 61 years old TODAY! The "Sixty for Sixty" campaign to get George his 60th #1 single while he was still 60 years old didn't quite make it, "Give It All We Got Tonight" has only made it to #10. But, that's OK, there is no one like George Strait and there quite possibly never will be. Several, I mean tons, of artists made videos to try and urge fans to buy the single. It is very touching. Watch them give love and admiration to the king of country music.
Quadruplets Laughing at Their Dad Will Make Your Weekend
May 17, 2013 8:00 PM This video may not have any real social significance and it's certainly not the most news worthy story of the day. However, with everything going on in the world today and on the nightly newscasts, sometimes we just need something to remind us that life is good and humanity can be a beautiful thing.
Carrie Underwood Not Ready for Kids Yet
Now 30, Carrie Underwood has a thriving career, a bursting bank account and an incredibly supportive hockey playing husband -- and she's content to bask in the joy of her almost three-year marriage... without kids.
Henderson Schools on Lockdown While Police Search for Escaped Inmate
Two schools in Henderson County, Jefferson Elementary and Riverview preschool are on lockdown while police search for a missing inmate.
According to police Nicholas Christian was working at the jail garden and walked off
Songs For St. Jude Free Concert – Jason Sturgeon May 31st At Hawg N Sauce
May 17, 2013 7:05 AM WKDQ is proud to announce this summer's Songs For St. Jude Free Concert Series with Hawg N Sauce BBQ and Grill in Mt. Vernon. We kick off this series with a performance from Indiana native, Jason Sturgeon on May 31st at 7:30pm!
Saturday Is Recycle Day In Vanderburgh County at the 4-H Center
May 17, 2013 4:00 AM If you are like me and have old newspapers, magazines, cardboard and plastic bottles sacked up and ready to recycle - Saturday is the day to clean house!
‘Way Late Play Date’ at cMoe Lets Adults Act Like Kids Again
Grab some friends, send the kids to Grandma's, and get ready to have some adult fun at the Children's Museum of Evansville!
Behold, the Greatest Bird Hunter of All Time
May 16, 2013 11:45 PM Every so often you see a video that makes you say, "no way he just did that." Have you ever heard of noodling? Noodling is basically fishing with your bare hands and believe it or not, but some people are very skilled at this. In fact, I think there is some kind of reality show about noodling. What do you call quail hunting with your bare hands?
The State Where People Swear the Most – F@!#ing Ohio!
May 16, 2013 8:00 PM S*#T! There goes another title that Indiana and Kentucky lose out on. According to a new survey, people swear more in Ohio than any other state in the Union, followed by Maryland and New Jersey...well there's a f@!#ing surprise - what no New York? By contrast, the state with the fewest people who swear and the most goody two-shoes is Washington.
Who Is Batman?
May 16, 2013 5:17 PM It's a question that people in Gotham City have been asking for years. Who is Batman. This mysterious crime fighter, that flies at night has kept his identity concealed, until now, when he showed up at the Townsquare Media Offices, but now there's more mystery than ever before!