In case you didn’t know, we surpassed the $20 trillion mark in debt. Like many recent college grads or new homeowners, the United States has piled on more debt than what it brings in every year. In fact, the government debt is larger than the amount of goods and services we produce in a year! In 2016, the Gross Domestic Product, or GDP for the U.S. was around $18 trillion; $2 trillion less than the total debt. Continue reading “Slow-Boiled By Good Intentions”
“We need to hold universities accountable!” This buzz phrase has taken hold of Gen Y as they take on the student debt crisis facing our nation. Continue reading “Who To Blame? The Student Debt Accountability Question”
As payday lenders and check-cashing stores continue to feel the wrath of government regulation, it’s important to understand why they exist in the first place. Continue reading “Payday Loans Filling the Void”
To update, the Fed has increased the fed funds rate 25 basis points to 1 percent as of March 15. Read more here. Continue reading “The Silver Fox Gets Us Ready For A Rate Hike”
Though it doesn’t paint the whole picture, financial capital represents a whole lot of the influence behind economic mobility. The last, and most obvious, installment in our analysis of economic capital’s effect on realizing the American Dream explores financial capital. Continue reading “Financial Capital: Moving Up The Ladder In The Modern Economy”
The student loan debt crisis is not exclusive to Gen Y. A new report claims that of the student loans taken out by folks over the age of 60, 40 percent of them are in default. This will turn out to have some serious implications for not only their well-being but for Gen Y’s ability to become economically mobile in the future. Continue reading “Our Parents And Grandparents Are Sharing The Struggle With Student Loans”
Previously posted on GenFKD.
Our exploration of the formation of the modern economy picks up in the aftermath of the dot-com crash that cost our drunk uncle a pretty penny. Our rollercoaster economy spent the early years of the millennium clinking and clanking back up to the top of the track. But, it was the stomach-churning drop into the Great Recession that defined our generation’s entrance into the workforce. Continue reading “How the Great Recession Shaped Millennial Careers”