Money, money, money. Studies, studies, studies.
Do you want to be well off, young man? Then have your dad get you into his workplace, preferably one he is the owner of. A new study using data from Canada and Denmark, both countries known for comparatively reasonable levels of opportunity and equality, indicates that nepotism is a major strategy for maintaining family wealth and privilege.
Income Inequality, Equality of Opportunity, and Intergenerational Mobility
29-page .pdf file from author Miles Corak’s blog
image: DJ Shin via Wikimedia Commons
Postmedia, an entity at the centre of Canada’s mainstream mass media gets big kudos from suburban-poverty.com today. Through a freedom of information request they went after a presentation given to the country’s federal Minister of Neo-Conservative Finance just recently and got hold of a copy. That’s what you call journalism, everybody! The presentation ought to concern all Canadians, including the government officials we privilege with leadership roles. The topic was middle class crisis. The rich are doing well here and even the poorest have caught some teensy little breaks lately. The middle class? Not so hot, they are dying under their debt loads. Jim Flaherty got a full-on briefing on this matter in October.
Income growth for Canadian middle-class families lags behind other groups: report National Post
image: Joshua Sherurcij via Wikimedia Commons
When it comes to wielding a skill set that defines reality it is usually hard to beat the accountants. The Certified General Accountants Association of Canada have just shown us ourselves in the form of a new report. The bacon-and-eggs therein consist of the fact that a third of us merely live from one paycheque to the next. The cost of living and aspirational consumption is preventing many of us from saving any money at all.
In a word: precarity.
Nothing new really, including the fact this is worrisome and that for most of us this kind of insecurity still seems contrary to the very idea of life here in a prosperous, peaceful, youthful, developed country like this one still is intended to be.
Building nest egg not a high priority for most Canadians cga-canada.org
A third of Canadians living paycheque to paycheque: survey thestar.com
See also: (282) It’s more than poverty
image: Canadian Tire money by Shuki via Wikimedia Commons