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Wage Erosion Resumes

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from Lakshman Achuthan, Co-Founder and Chief Operations Officer of ECRI

The Fed may welcome higher inflation, but it is important not to forget what inflation does to real wage growth - which is what folks on Main Street depend on. Inflation eats away at wages, and as a result, real wage growth has been declining since last fall.

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What We Read Today 27 May 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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 more features, analysis, studies, and news published in the last week

How Did The Great Recession Affect Payday Loans?

from the Chicago Fed

-- this post authored by Sumit Agarwal, Tal Gross, and Bhashkar Mazumder

The sharp decline in the U.S. economy that began in 2007, commonly referred to as the Great Recession, made it very difficult for many Americans to borrow. According to the Senior Loan Officer Survey conducted by the Board of Governors of the Federal Reserve System, banks across the country dramatically tightened credit card standards during the first two years of the Great Recession. From 2008 to 2010, the average number of credit cards per person fell from roughly 2.2 to 1.7, and the total limit on all credit card balances fell from around $25,000 to $21,000.

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Infographic Of The Day: Best Bike Cities In The US

Seattleites looking to hop on their bikes for National Bike to Work Week are in luck: The city ranks as the No. 1 bike city in the U.S. followed by Portland and San Francisco, according to a Zillow analysis.

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Video of the Day:

Make a tiny solar car for about $1. Easy and fun!


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The Platinum Doubler Of The Year, Courtesy Of Gold?



 more opinion

Martin Feldstein On Government Debt Does Not Make Sense

from Dirk Ehnts, Econoblog101

This is from his article at Project Syndicate:

In the United States, the Congressional Budget Office estimates that the federal government debt doubled over the past decade, from 36% of GDP to 74% of GDP. It also predicts that, under favorable economic assumptions and with no new programs to increase spending or reduce revenue, the debt ratio ten years from now will be 86% of GDP.

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 USA economy at a glance (boxed items are updates in last 7 days)

20 May 2016: ECRI's WLI Growth Index Unchanged

ECRI's WLI Growth Index which forecasts economic growth six months forward expanded marginally and remains in positive territory for the ninth week - after spending the previous 34 consecutive weeks in negative territory.

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