1589 Dollar-US

A couple or three interesting financial factoids in the news recently. Firstly, millionaires are hurting. According to IRS figures, the financial crisis shrunk the list of millionaires by 40%. Sad…
In 2007, 390,000 people reported incomes of a million or more. In 2009, there were only 237,000. Not only that, the number of filers reporting $10 million or more dropped 55%.
Which may explain why one in every eleven shops in traditional malls is empty but outlet malls are thriving. Where's a good Abercrombie and Fitch or Polo store when you need it?
Here's another sad statistic. The poorest fifth of Americans spend roughly 42% of their income on transportation. Folks in the middle income bracket, 22%. Looks like the masses have yet to use mass transit.
Then again, part-time jobs at odd hours and graveyard shifts are tougher for mass transit to serve. It sure shows quite starkly how a rise in gas prices can bring our economy to its knees. Imagine spending almost half on every hard-earned low-wage dollar on getting to and from work.
And a quarter of every dollar ain't no good deal either. People complain about high taxes. But the oil companies are gouging us out with an apple corer. Of course they can use the money they reamed from us to buy the press to redirect our anger at the government.
Lastly, the median price of a tooth has dropped. Even the tooth fairy is pinching her pennies. Another survey determined that the average amount left under a child's pillow dropped from $3.00 to $2.60 last year.
What's the tooth fairy thinking? Round up girl. It's got to be fairy fuel intensive flying around with all that heavy loose change.
And darn those former millionaires, their probably bringing down the average.
America, ya gotta love it.