Wealth & Poverty

 

 

According to recent Federal Deposit Insurance Corporation data, eight percent of US households have neither checking nor savings accounts. Even more troubling, among minority households, the figure climbs to more than 20 percent. Raising the question ... how does this occur in the richest nation on earth?

 

 While it is no doubt true some folks distrust banking institutions. The more credible explanation ... greater numbers of Americans are living a hand to mouth existence. Raising from poverty is never an easy task, yet remains attainable given sufficient perserverence and a willingness to live beneath one's means, regardless of means. 

                                                                                 Roger L. Caron

Economic Precipice

Upwards of fifty percent of American households don't have enough savings to cover three months of living expenses. Another way of looking at this ...  nearly half of our  population is now just 90 days away from bankruptcy. Given the average length of unemployment now stands at 10 months, the tenuous financial situation of many consumers and continued weak national economy are indeed worrisome.

                                                                                                      Roger L. Caron