How much money have you saved?

Posted this earlier today and shared the wrong ig post from CNBC. My apologies, didn't catch onto this sooner.

I've been doing much better saving money over the last four years and hopefully I'll look much better over the next four years. At least you couldn't coun't me in the 35% with less than $1k in savings or the 34% who has ZERO.

It takes some discipline to put some money away at least every pay period. Then scrimp and scrape as you spend money. Though as far as spending I'm still learning. A never ending process.

Funny thing, I used to complain about how my mother didn't want to spend money on things. Now I've acquired some of those habits.

69% of Americans have less than $1,000 in their savings accounts. What's more, 34% have no savings at all. If your bank account balance is looking sad, you're not alone.

A post shared by CNBC (@cnbc) on Apr 11, 2017 at 6:18pm PDT

Although I said enough #Cubs posts...

Sloopin has a post about the championship rally for the Cubs last Friday. An estimated 5 million came to Chicago to see the parade and the rally in downtown Chicago. The 7th largest gathering of humans in the world. A lot of people have been waiting to see the unthinkable - a Cubs world series championship.

Consider this a mental break while we wait for more states to be called in this presidential election. There has been some interesting results, I was never sure what was going to happen but the results was never what was expected.

College Grads May Be Stuck in Low-Skill Jobs

As a college graduate who isn't exactly in a high-skill job this article is depressing. This is a week economy and if college grads are in the running for these low-skill jobs then there's another side effect.

The recession left millions of college-educated Americans working in coffee shops and retail stores. Now, new research suggests their job prospects may not improve much when the economy rebounds.

Underemployment—skilled workers doing jobs that don't require their level of education—has been one of the hallmarks of the slow recovery. By some measures, nearly half of employed college graduates are in jobs that don't traditionally require a college degree.

Economists have generally assumed the problem was temporary: As the economy improved, companies would need more highly educated employees. But in a paper released Monday by the National Bureau of Economic Research, a team of Canadian economists argues that the U.S. faces a longer-term problem.

They found that unlike the 1990s, when companies needed hundreds of thousands of skilled workers to develop, build and install high-tech systems—everything from corporate intranets to manufacturing robots—demand for such skills has fallen in recent years, even as young people continued to flock to programs that taught them.

"Once the robots are in place you still need some people, but you need a lot less than when you were putting in the robots," said Paul Beaudry, an economist at the University of British Columbia in Vancouver and the paper's lead author. New technologies may eventually revive demand for advanced skills, he added, but an economic recovery alone won't be sufficient.

David Autor, an economist at the Massachusetts Institute of Technology who has studied issues of skills and education, called Mr. Beaudry's thesis "provocative" but also "speculative." There is no question, Mr. Autor said, that the wage premium enjoyed by college graduates hasn't grown as quickly during the 2000s as in earlier decades. But whether that is the result of a glut of degree holders or some other explanation isn't yet clear.

And now the side effect:

Better-educated workers still face far better job prospects than their less-educated counterparts. The unemployment rate for Americans with at least a bachelor's degree was 3.8% in February, compared with 7.9% for those with just a high school diploma. College-educated employees also tend to earn more and advance more quickly even when they are in fields that don't require a degree.

But as college-educated workers have been forced to take lower-level jobs, they have displaced less-skilled workers, leaving those without degrees with few job options. "You eventually push the lowest skilled out of the market," Mr. Beaudry said.

WOW! Here's hoping you're not in this boat.

Via Instapundit!

NRO: The Death of the Family

Finding this article via Newsalert the title from there was "Single Mothers Mean Welfare State". Then I see that this piece written by Mark Steyn in fact starts off talking about gay marriage. What is Steyn saying?

Which of these alternative scenarios — the demolition of marriage or the taming of the gay — will come to pass? Most likely, both. In the upper echelons of society, our elites practice what they don’t preach. Scrupulously nonjudgmental about everything except traditional Christian morality, they nevertheless lead lives in which, as Charles Murray documents in his book Coming Apart, marriage is still expected to be a lifelong commitment. It is easy to see moneyed gay newlyweds moving into such enclaves, and making a go of it. As the Most Reverend Justin Welby, the new Archbishop of Canterbury and head of the worldwide Anglican Communion, said just before his enthronement the other day, “You see gay relationships that are just stunning in the quality of the relationship.” “Stunning”: What a fabulous endorsement! But, amongst the type of gay couple that gets to dine with the Archbishop of Canterbury, he’s probably right.

Lower down the socioeconomic scale, the quality gets more variable. One reason why conservative appeals to protect the sacred procreative essence of marriage have gone nowhere is because Americans are rapidly joining the Scandinavians in doing most of their procreating without benefit of clergy. Seventy percent of black babies are born out of wedlock, so are 53 percent of Hispanics (the “natural conservative constituency” du jour, according to every lavishly remunerated Republican consultant), and 70 percent of the offspring of poor white women. Over half the babies born to mothers under 30 are now “illegitimate” (to use a quaintly judgmental formulation). For the first three-and-a-half centuries of American settlement the bastardy rate (to be even quainter) was a flat line in the basement of the graph, stuck at 2 or 3 percent all the way to the eve of the Sixties. Today over 40 percent of American births are “non-marital,” which is significantly higher than Canada or Germany. “Stunning” upscale gays will join what’s left of the American family holed up in a chichi Green Zone, while beyond the perimeter the vast mounds of human rubble pile up remorselessly. The conservative defense of marriage rings hollow because for millions of families across this land the American marriage is hollow.

Also:

Underneath all this apparent “fairness” is a lot of unfairness. Entire new categories of crime have arisen in the wake of familial collapse, like the legions of adolescent daughters abused by Mom’s latest live-in boyfriend. Millions of children are now raised in transient households that make not just economic opportunity but even elementary character-formation all but impossible. In the absence of an agreed moral language to address this brave new world, Americans retreat to comforting euphemisms like “blended families,” notwithstanding that the familial Cuisinart seems to atomize at least as often as it blends.

Meanwhile, social mobility declines: Doctors who once married their nurses now marry their fellow doctors; lawyers who once married their secretaries now contract with fellow super-lawyers, like dynastic unions in medieval Europe. Underneath the self-insulating elite, millions of Americans are downwardly mobile: The family farmers and mill workers, the pioneers who hacked their way into the wilderness and built a township, could afford marriage and children; indeed, it was an economic benefit. For their descendants doing minimum-wage service jobs about to be rendered obsolete by technology, functioning families are a tougher act, and children an economic burden. The gays looked at contemporary marriage and called the traditionalists’ bluff.

Then finally Newalert lifts this conclusion from the final paragraph:

The most reliable constituency for Big Government is single women, for whom the state is a girl’s best friend, the sugar daddy whose checks never bounce. A society in which a majority of births are out of wedlock cannot be other than a Big Government welfare society. Ruining a nation’s finances is one thing; debauching its human capital is far harder to fix.

The article starts off with a conversation Steyn has who notes that gay marriage is an attack on marriage. Instead of this article being an attack of gay marriage it notes the many sociological issues that are occuring in this nation.

It seems to me the Christian right makes a big issue about marriage. From them we might hear that getting married has economic benefits and social stability. Although increasing Americans aren't going out of their way to get marriage they just simply shack up.

In this case, it's safe to say that this article is attempting to look at the big picture. The next question is, I can only wonder how the Supreme Court is going to rule on gay marriage.

Black college graduates may find more success in self-employment

Well I hope they have skill which could ensure  success. I imagine it's easier to be an entrepreneur if you had a law degree or a business degree. It's just one start among others.

Recent data from the Bureau of Labor Statistics reveals that black self-employment has been on the rise. The number of self-employed blacks grew by 5.7% from 2007 through 2009, in contrast to the 3.4% experienced by self-employed whites. Some minority entrepreneurs have found a substantial amount of success using social media. Twenty-four year old minority alum of the  University of California at Berkeley alum, Charlie Fyffe, started his dessert business, Charlie’s Brownies, on Facebook. “I started my business initially on Facebook, marketing through a fan page for four years before getting a real Web site,” he said in an interview. “As social media has become a societal norm, the popularity of my brand naturally grew with it.”

You know that just means I need to find a way to start my own business. Should've started in high school because if I had more interest, who knows where things would be today!

What's a liberal arts degree worth nowadays?

I went to a liberal arts college - Morehouse College - and well I hear a lot about those students who graduated and are doing very well in their lives. What most students who attend and eventually graduate may not hear the reality. That is how to many of them start off before they do very well? 

Doomsayers be damned: America’s higher-education model, and its price tag, ain’t broke. So says Northwestern University President Morton Schapiro. In a recent op-ed for the L.A. Times, Schapiro and Lewis & Clark College President Barry Glassner argue that the college premium — the ratio of college earning to high school earnings — justifies the investment in higher education. Individuals with a college degree now make almost 85 percent more over a lifetime than those with only a high school diploma.

But statistics are tricky — while one economist opts to focus on the long-term returns, another is focused on the immediate future, which, for many recent college graduates, is bleak. More than 50 percent of bachelor’s degree-holders under the age of 25 were jobless or underemployed in the last year. So if and when a college graduate gets a job, he’s likely to earn, on average, $20,000 more annually than a person with a high school diploma. But when the average student is graduating with $25,000 in student-loan debt, he or she might be a bit more focused on getting a paycheck, any paycheck.

This might explain why, as Ohio University economics professor Richard Vedder is quick to point out, there are 80,000 bartenders and 115,000 janitors with bachelor’s degrees.

Looking at a graphic at the WBEZ article, I chose the wrong major. Should've majored in a science or engineering related field. If only I hadn't been so intimidated by science and math when I was in school!

BTW, to be fair I wasn't as aggressive as other graduating seniors when it came to looking for the next step in their futures. I never thought seriously about law school or graduate school in any way. It was more important to me to find a job, however, my search didn't really start until I finally graduated. Safe to say the ball was dropped and the situation today is what it is. 

Via Newsalert!