“The best use of money as a motivator is to pay people enough to take the issue of money off the table: Pay people enough so that they’re not thinking about money and they’re thinking about the work. Once you do that, it turns out there are three factors that the science shows lead to better performance, not to mention personal satisfaction: autonomy, mastery, and purpose.”—Daniel Pink on the surprising science of motivation.
Millenials Aren't Lazy: They're Fucked
This is a chapter from my new book, Life Begins At Incorporation, which I am releasing in light of TIME’s trolling ass cover story on lazy, entitled Millenials. I don’t live with my parents and will not “save us all.”
“How come all we do is talk about money?” — Richie Rich
The Great Recession officially ended in 2009. How’s everybody doing? Did you need help uncorking the champagne?
Unless you are a one-percenter who followed an errant link on Twitter, you probably aren’t ordering Cristal for the table.
Our economy has been slowly gaining ground since we bottomed out in the 2008 job-pocalypse. That oughta be good for people, right? But, turns out 121 percent of income gains made in the recovery went to the top one percent of the country’s earners. I’m not sure how you can capture more than 100% of something. It sounds kind of greedy to me. An economist at Berkeley got to that number when figuring in the fact that incomes for most everyone else have dropped. Wages are down, household incomes are down, but don’t worry, these are the job creators were talking about. If you don’t have an employment scenario figured out just yet, wait a few minutes. I’m sure some rich guy needs someone to give his shoe-shine 121 percent of their effort.
Jobs, jobs, jobs! They’re everywhere. The problem with all this job-creation is the new jobs are all worse than our previous jobs, which, to be honest weren’t all that rad in the first place. Some jobs, they don’t even pay money, which is still a thing you need some of to live.
My mother spent the recession in multiple jobs, the most recent of which paid federal minimum wage. $7.25, baby! This is the reason why, when I hear well-paid pundits say that no one except high school kids work for minimum wage, I want to fly to their home, poop on their doorstep, and set it on fire.
Why does the Federal Reserve continue to insist that the economy is “improving” when it obviously is not?Fed finds economy improving across U.S.
by Paul Davidson
The nation’s economy proved surprisingly resilient the past six weeks despite the budget standoff in Congress, with activity expanding in all 12 Federal Reserve districts, the Fed said Wednesday.
The Fed’s Beige Book report said the New York and Philadelphia Federral Reserve bank districts have rebounded from the near-term effects of Superstorm Sandy, and the pace of growth picked up in the Boston, Richmond and Atlanta regions while slowing in St. Louis.
Still, uncertainty among businesses because of the so-called fiscal cliff of tax hikes and spending cuts — which was partially resolved early this month — dampened the retail outlook in some areas and prompted some employers to hold off hiring. And the economic slowdown in Europe hampered some manufacturing exports.
The Reality (are we a third world country?)….35 Statistics About The Working Poor In America That Will Blow Your Mind
by Michael Snyder
In America tonight, tens of millions of men and women will struggle to get to sleep because they are stressed out about not making enough money even though they are working as hard as they possibly can. They are called “the working poor”, and their numbers are absolutely exploding. As a recent Gallup poll showed, Americans are more concerned about the economy than they are about anything else. But why are Americans so stressed out about our economic situation if things are supposedly getting better? Well, the truth is that unemployment is not actually going down, and the real unemployment numbers are actually much worse than what is officially being reported by the government. But unemployment is only part of the story. Most American workers are still able to find jobs, but an increasing proportion of them are not able to make ends meet at the end of the month. Our economy continues to bleed good paying middle class jobs, and to a large degree those jobs are being replaced by low income jobs. Approximately one-fourth of all American workers make 10 dollars an hour or less at this point, and we see them all around us every day. They flip our burgers, they cut our hair and they take our money at the supermarket. In many homes, both parents are working multiple jobs, and yet when a child gets sick or a car breaks down they find that they don’t have enough money to pay the bill. Many of these families have gone into tremendous amounts of debt in order to try to stay afloat, but once you get caught in a cycle of debt it can be incredibly difficult to break out of that.
The following are 35 statistics about the working poor in America that will blow your mind…
#1 According to the U.S. Census Bureau, more than 146 million Americans are either “poor” or “low income”.
#2 According to the U.S. Census Bureau, 57 percent of all American children live in a home that is either “poor” or “low income”.
#3 Back in 2007, about 28 percent of all working families were considered to be among “the working poor”. Today, that number is up to 32 percent even though our politicians tell us that the economy is supposedly recovering.
#5 In Arkansas, Mississippi and New Mexico, more than 40 percent all of working families are considered to be “low income”.
#6 Families that have a head of household under the age of 30 have a poverty rate of 37 percent.
#7 Half of all American workers earn $505 or less per week.
#8 At this point, one out of every four American workers has a job that pays $10 an hour or less.
#9 Today, the United States actually has a higher percentage of workers doing low wage work than any other major industrialized nation does.
#10 Median household income in the United States has fallen for four consecutive years.
#11 Median household income for families with children dropped by a whopping $6,300 between 2001 and 2011.
#12 The U.S. economy continues to trade good paying jobs for low paying jobs. 60 percent of the jobs lost during the last recession were mid-wage jobs, but 58 percent of the jobs created since then have been low wage jobs.
#14 According to the U.S. Census Bureau, the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.
#15 There are now 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.
#18 According to one survey, 77 percent of all Americans are now living paycheck to paycheck at least part of the time.
#19 Millions of working poor families in America end up taking on debt in a desperate attempt to stay afloat, but before too long they find themselves in a debt trap that they can never escape. According to a recent article in the New York Times, the average debt burden for U.S. households that earn $20,000 a year or less “more than doubled to $26,000 between 2001 and 2010”.
#21 According to the Economic Policy Institute, the wealthiest one percent of all Americans households on average have 288 times the amount of wealth that the average middle class American family does.
#22 In the United States today, the wealthiest one percent of all Americans have a greater net worth than the bottom 90 percent combined.
#23 According to Forbes, the 400 wealthiest Americans have more wealth than the bottom 150 million Americans combined.
#24 The six heirs of Wal-Mart founder Sam Walton have a net worth that is roughly equal to the bottom 30 percent of all Americans combined.
#25 Sadly, the bottom 60 percent of all Americans own just 2.3 percent of all the financial wealth in the United States.
#26 The average CEO now makes approximately 350 times as much as the average American worker makes.
#28 Today, 40 percent of all Americans have $500 or less in savings.
#29 The number of families in the United States living on 2 dollars a day or less more than doubled between 1996 and 2011.
#31 Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, about one out of every 6.5 Americans is on food stamps.
#32 More than one out of every four children in the United States is enrolled in the food stamp program.
#33 Incredibly, a higher percentage of children is living in poverty in America today than was the case back in 1975.
#34 If you can believe it, the federal government hands out money to 128 million Americans every single month.