(Source: pbs.org)

Chairman and chief executive officer of JPMorgan Chase, Jamie Dimon, in this morning’s testimony over the $2 billion loss from derivative trades the company announced earlier in May.

Paul Taylor, Pew Research Center:

We have now had more than a decade where median household income has not returned to an earlier peak. Never seen this since the Great Depression. So, everything — everybody has taken a big bite…It’s hurt the most in the middle. It’s hurt people of color more than whites. It’s hurt young more than old.

To the extent that anyone was a little bit sheltered, older folks were somewhat sheltered. Those who were retired didn’t have jobs to lose. Many of them purchased their houses at pre-bubble prices. Many of them had already paid off their houses. So they were not quite as exposed as the people who bought at bubble-inflated prices, when the market collapsed.

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The faces of student-loan debt

restorationcalls:

Okay, look. I don’t even know what recession means, because I’m only 13 years old. What I do know is that we need to make some sort of change. I feel like the U.S. isn’t even united anymore. You may say “How would you know anything about this stuff?” But I’ve been in social studies class for 7 years now, and I know how we used to be. When I read about how we used to be, I feel like there was a huge arm wrapped around us, hugging us all together. I felt like instead of being divided, we were welded together for eternity. I just want the world to become one again, so that my children and their children and so on can feel the same way I do when I read those history books. 

From beautyandablog

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