How is the economy really doing halfway through the year? Here are the ups and downs, in chart form.
Using a site that tracks dollar bills, a theoretical physicist noticed that our state boundaries are rather arbitrary, but that money tends to stay within new, more realistic boundaries.
Can we get along without the U.S. penny? Reportedly, a majority of Americans think we cannot. We’re just used to it. After all, the penny has been around in one form or another ever since George Washington signed An Act to Provide for a Copper Coinage in 1792.
Today’s ranking of the world’s richest people
The U.S. suffers from staggering economic inequality — as staggering, in some places, as Nigeria, El Salvador and the Dominican Republic. Richard Florida ran the numbers and compared cities in the U.S. to highly unequal foreign countries. That colorful map might look pretty, but its implications for U.S. income inequality are not.
Most expensive places to rent an apartment in the DC area. I’m moving to Chantilly now. Eww jk.
How do Americans spend their money? And how do budgets change across the income spectrum?
The graph below answers these questions. It shows average household spending patterns for U.S. households in three income categories — one just below the poverty line, one at the middle of the income distribution and one at the top of the distribution.
American television news outlets continue to devote sparse time to one of largest banking scandals in history. The controversy over whether major banks have been manipulating the LIBOR, a crucial interest rate that banks use to borrow money from one another, has been gathering steam for more than a month since U.S. and U.K. regulators fined British bank Barclays $450 million for its role in trying to rig the rate.
The Guardian's Datastore recently announced the results of the economic recovery visualization competition they ran with Google. We’re going to highlight a different competition entry every Wednesday for the next few weeks. Today’s entry, “Are Connectedness and Transparency the Key to Recovery?" by Ryan Panchadsaram, was chosen as the winner of the competition.
On the Guardian’s Datablog:The Libor rate submissions by each bank, 2005 to 2008 | Interactive guide
Following the Barclays Libor scandal, we have the data for each bank’s submissions to the rate for each day as the markets spun into crisis
The Great Recession notwithstanding, can you still bootstrap yourway to success in America? After all, America is built on the idea of equal opportunity, regardless of economic status at birth. If you work hard enough, even if you were born in poverty, you too can be rich.
Nationally, the U.S. unemployment is high, but that story is wildly different across each state. Whereas Nevada’s unemployment rate is 12%, Nebraska’s—an equally-sized state—is only 4%. The Guardian’s
John Burn-Murdoch*Joe Mako plotted the difference between each state’s unemployment and the national average to highlight the dispersion of joblessness across the U.S.
Not all recessions are the same, however. Each recession affects specific sectors and, therefore, specific states. The recession in the early 80s limited the money supply, so farmers and ranchers had less funds. West Virginia, Alabama, and even Iowa and Wyoming had higher-than-average unemployment rates. The most recent recession which boiled-up through a hot real estate market pushed Nevada’s—who had the largest housing boom—unemployment rate far above the national average.
*No, he isn’t a maniacally evil offspring of Rupert Murdoch and Montgomery Burns.