Alex Yen

510 Flips | 1 Magazine | 1 Following | 714 Followers | @alexhyen | Keep up with Alex Yen on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Alex Yen”

The economy is booming, yet Americans are struggling. An award-winning author explains why

The unemployment rate fell below 4 percent in July, the lowest it's been in nearly two decades. The job market is booming and the economy seems …

Income Inequality

Study: Asians displace blacks as most economically divided group

Income inequality has been growing steadily among all Americans since the 1970s. But within racial groups, the gap between rich and poor is growing most rapidly among Asians in the U.S., according to a new study.<p>Asians continue to rank as the highest-earning racial and ethnic group in the U.S. on …

Where Financial Inequality Is Rampant [Infographic]

A recent OECD paper made the point that there is now widespread recognition that GDP measures or GDP per capita are insufficient when it comes to understanding households economic well-being. As a result, the research focused more on household income with a particular emphasis on income inequality. …

You'll Need a $22/Hour Wage to Afford a Two-Bedroom Rental in the U.S.

There is nowhere in the U.S. where a full-time worker earning the federal minimum wage of $7.25 could afford a two-bedroom rental apartment working …

The 9.9 Percent Is the New American Aristocracy

The class divide is already toxic, and is fast becoming unbridgeable. You’re probably part of the problem.<p>1.<br>The Aristocracy Is Dead …<p>For about a week every year in my childhood, I was a member of one of America’s fading aristocracies. Sometimes around Christmas, more often on the Fourth of July, my …

Extensive Data Shows Punishing Reach of Racism for Black Boys

A study of 20 million children shows the fragility of the American Dream.

This Map Shows the Average Income in Every State—and What It's Really Worth

$50,000 goes further in Ohio than New Hampshire.<p>Geography can transform a paycheck. That is: How much your wages are actually worth depends largely …

Silicon Valley is so expensive that people who make $400,000 a year think they are middle-class

Some wealthy residents of Silicon Valley may be falling out of touch with how the rest of the US thinks about money.<p>The Palo Alto Weekly, a community newspaper published in Palo Alto, California, surveyed more than 250 residents in December and January. Among the questions: "How do you define your …

Silicon Valley

A War on the Rich Won’t Help the Poor

Oxfam notes that poverty has declined sharply, then ignores the quickest way to reduce it even more.<p>By<p>David R. Henderson<p>The antipoverty charity Oxfam recently published a 76-page report, “Reward Work, Not Wealth,” that advocates taxing the rich to reduce inequality and help the poor. But the …

How rich are the rich? If only you knew

“If poor people knew how rich rich people are, there would be riots in the streets.”<p>Actor and comedian Chris Rock made this astute statement during a …

Ahead of Davos, even the 1 percent worry about inequality

By Heather Long<p>, Reporter<p>Billionaires heading to Davos, Switzerland, this week for the annual retreat at a luxurious ski resort in the Alps have every reason to be jubilant. Stock markets are at record highs, corporate taxes in the United States and Britain are falling, and every major economy is …

Income Inequality

In booming economies, food banks are busier than ever

<b>(CNNMoney) —</b> Robbie Rodriguez works two jobs and makes a decent living. He also uses a food bank to help feed his family.<p>He's a special education teacher at a public school in Los Altos, California, during the day, and works nights and weekends as a data analyst<b>.</b> He takes home roughly $2,500-$2,700 …

San Francisco

Warren Buffett Destroys Trump's Economic Policy Without Mentioning Him Once

Warren Buffett has a message for the Trump White House: trickle-down economics don’t work.<p>As the third-richest man in the world with a net worth of …

The two Americas: Why, now more than ever, inequality must be confronted to protect economic…

“Average statistics camouflage what is happening in the economy, which could lead to dangerous miscalculations,” Bridgewater’s Ray Dalio wrote in a …

Rent for the Poor Really Is Too High

Are poor Americans doing better than they used to, or worse? It’s hard to know, because so many important things in life -- social status, emotional …

America is Cashing Out

As we enter the 21st Century, it seems like a subset of Americans are done investing in its shared future.<p>The United States is beginning to look more …

Your financial fate is sealed by the time you turn 25

There are two downbeat facts about the US economy which you hear often lately: incomes are stagnant and inequality is rising. More specifically, the average American man hasn’t gotten a raise since the 1970s (adjusted for inflation) and the gap between high and low earners has been growing wider …

Income Inequality

Millennials Are Screwed - The Huffington Post

Credits<p>Story - Michael Hobbes<p>Michael is a contributing writer for Highline.<p>Typography - Jason Wong<p>Jason is an art director and graphic designer based in suburban New Jersey.<br>He is also a part of the lettering sketch blog Friends of Type.<p>Spiritual Guide - Becky<p>Becky is an 8-bit creation living in …

New Jersey

Alabama Has the Worst Poverty in the Developed World, U.N. Official Says

<i>Updated</i> | A United Nations official investigating poverty in the United States was shocked at the level of environmental degradation in some areas of …

Boston. Racism. Image. Reality: The Spotlight Team takes on our hardest question

Google the phrase “Most racist city,” and Boston pops up more than any other place, time and time again.<p>It may be easy to write that off as a …

Most Americans aren't benefiting from the stock market boom

The stock market's record-breaking ascent this year has become a favorite topic for President Donald Trump.<p>"With the great vote on Cutting Taxes, this could be a big day for the Stock Market - and YOU!" he tweeted on Monday morning.<p>It's true -- the S&P 500 is up 17.4% since the beginning of the …

Stock Markets

The middle class is disappearing, which makes dollar stores very happy

As more and more US department stores close and malls are mothballed, Amazon is being blamed for the “retail apocalypse” (paywall). But there’s another dynamic crippling American retailers—a shrinking middle class exacerbated by a widening inequality gap. Between 1971 and 2015, the share of US …

Middle-class

Lost Einsteins: The Innovations We’re Missing

Much of human progress depends on innovation. It depends on people coming up with a breakthrough idea to improve life. Think about penicillin or cancer treatments, electricity or the silicon chip.<p>For this reason, societies have a big interest in making sure that as many people as possible have the …

New Jersey

Myths of the 1 Percent: What Puts People at the Top

Income inequality inspires fierce debate around the world, and no shortage of proposed solutions. As global billionaires bid up the price of a da Vinci painting on Wednesday, to $450.3 million, Congress debated tax reforms that many analysts said would give the largest benefits to the richest 1 …

Americans who haven't gone to college are way worse off today than 40 years ago

Several decades ago, regular Americans could get by with a decent job and a decent wage with only a high school diploma.<p>But things are very different today.<p>In a note to clients, Bank of America Merrill Lynch's Michelle Meyer and Anna Zhou shared a chart showing trends in real wages broken down by …

Demographics

'We still need to eat': Tech boom creates working homeless

MOUNTAIN VIEW, Calif. (AP) — In the same affluent, suburban city where Google built its headquarters, Tes Saldana lives in a crowded but tidy camper …

Silicon Valley

The year's biggest data leak is about one thing: growing inequality

Thanks to yet another massive data leak, the world has been gifted more secretive information about how the rich move their money around the world, avoiding taxes and hiding their association to dodgy financial deals. Featuring intel on everyone from the British queen to close aides of Donald …

Corruption

Our Biggest Economic, Social, and Political Issue

The Two Economies: The Top 40% and the Bottom 60%<p>To understand what’s going on in “the economy,” it is a serious mistake to look at average …

The founder of the world's largest hedge fund just shared brutal analysis of the US economy

Brutal.<p>There's no other word for Ray Dalio's latest note on the US economy, and the situation it describes. The founder of Bridgewater, the world's largest hedge fund with about $160 billion in management, posted the note on LinkedIn on Monday, and sets about splitting the US economy in two: the …

Hedge Funds

Our Broken Economy, in One Simple Chart

This chart captures the rise in inequality better than any other chart that I’ve seen.

Equality