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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.
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Articles about events, conflicts and disease around the world
Fewer Americans Identify as Middle Class in Recent Years (Frank Newport, Gallup) Hat tip to Sig Silber. Americans are considerably less likely now than they were in 2008 and years prior to identify themselves as middle class or upper-middle class, while the percentage putting themselves in the working or lower class has risen.
Other Economics and Business Items of Note and Miscellanea
Pimco Total Return Fund loses world's biggest bond fund title (Reuters) Vanguard Total Bond Market Index Fund had $117.3 billion as of April 30, according to a Vanguard spokesman, putting it ahead of Return Fund as of Monday 04 May 2015, The Pimco Fund continues to experiemce substantial withdrawals.
Global stock market cap reaches record $75 trillion (Nikkei Asian Review) The global stock market cap peaked at $64 trillion in October 2007 and declined before setting a new record in November 2013. The market cap topped GDP in 1999 during the dot-com bubble and again during 2006-2007, before the financial crisis. The total capitalization has again reached the approximate value of global GDP.
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