October 25, 2007
Great article by The Minneapolis Federal Reserve here on why to view common media claims of a middle class falling behind with skepticism. Fed Economist Terry J. Fitzgerald writes:
Americans have experienced steady, gradual improvement in their standard of living since nearly the founding of the country...Gross domestic product per person, one of the mostly widely cited proxies for standard of living, has nearly doubled since 1975. Other measures of national economic performance, such as personal income, compensation of employees and the amount of goods and services consumed, have also risen substantially.
October 3, 2007
Students at 30 colleges can buy a starbucks at the library. (Read Here).
If you cut out the Venti Latte, save five dollars a day, you'll be a millionaire in 41 years. And you could be a millionaire in 34 years if you save $10 a day! (Assuming a 10% return, not 54% in 4 months like Chipolte stock, not at $127 a share. Check out your latte factor here