In a study released Wednesday, the nonpartisan Public Policy Institute of California reports that the proportion of households it defines as the middle class — those with annual incomes between $44,000 and $155,000 — has dropped below half, to 49.7 percent.
Households below that level account for 36.6 percent of Californians, and those above account for 13.7 percent.
The percentage of Californians in the middle class is the lowest in at least 30 years, the report says, and has consistently fallen since its peak of 60 percent in 1980.
Fewer than half of Californians can now be called ‘middle class’ » Ventura County Star (via shorterexcerpts)
"The bottled-water industry, air and water purifiers, electronic security systems, residential backup electric generators, (possibly revived) paid “trusted traveler” programs at airports, and congestion charges, road pricing, and sale of passes for previous high-occupancy vehicle (HOV) lanes — all use advanced technology to insulate those who can pay from everyone else."
— Does Technology Insulate Elites Dangerously? - Edward Tenner - Technology - The Atlantic (via infoneer-pulse)
"The future of ice cream is having trouble surviving today. Dippin’ Dots Inc., the self-described “ice cream of the future,” filed for Chapter 11 bankruptcy protection Thursday in U.S. Bankruptcy Court in Paducah, Ky., near its headquarters, after fighting off foreclosure efforts from Regions Bank for more than a year, according to court documents. At the time of the filing, the company owed about $11.1 million to the bank."
Dippin’ Dots Files for Bankruptcy - WSJ.com
I have always thought that the Dippin’ Dots slogan (“Ice Cream of the Future”) was genius, because kids of all ages think it’s brand new, and cool. Plus it sets targets for commercial success way out, well, in the future.
Though it appears that future may not come after all.
"The one precedent you might consider is 1937, when there was also a premature withdrawal of fiscal stimulus, and the economy fell into another recession more painful than the first."
A Second Recession Could Be Much Worse Than the First - NYTimes.com (via mikehudack)
Not so happy Monday morning reading.
"The city is so hard up for cash that it’s rationing toilet paper in women’s public restrooms — to the point where bathroom attendants are doling out a few measly squares per patron — along the world-famous Coney Island boardwalk."
Bathroom attendants rationing toilet paper - NYPOST.com (via rubenfeld)
Times are tough all around. And yet, this seems like the perfect kind of story for the Post.