[expat_panama]

...percent median of the average has been falling at a steady rate for decades...

...the average Joe’s investment portfolio and home value has steadily increased...

Most people (me included) get turned around when the words 'median' and 'average' are on the table.  

Our always truthful friends at the Census.gov (/sarc) say we're getting increasing income inequality so that means the median incomes (half richer & half poorer) is becoming smaller and smaller relative to the size of the average incomes (total incomes divided by population).  So what we're hearing from the press is that this is some kind of new thing, but reality is that it's been going on for decades.

imho income inequality is a good thing.  Only a Marxist would want everyone to get paid the same amount.

[expat_panama]

Watson the game's afoot!  While this morning's futures are cautious w/ metals up and stocks weak, Market Watch said it best:  "Get ready for 48 hours — and a little more — of the most intense outpouring of information on the U.S. economy you’re likely to ever see."  (econ calendar here)    This morning's buzz:

• New headache for Putin as court awards Yukos shareholders $50 billion   Fortune
• Europe subdued, Russia shares tumble on new sanctions Economic Times - 2 hours ago LONDON: The euro was stuck near its lowest level since November and Russian shares tumbled for a third straight day on Monday as new European sanctions for Moscow chilled the already frosty relationship between the two.
• Emerging-Market Stocks Advance on China Economic Growth Optimism Businessweek - 4 hours ago Emerging-market stocks rose, extending a weekly gain, as a gauge of Chinese mainland shares traded in Hong Kong headed for a bull market.
• Ex official: Obama could curb corporate 'inversions' on his own President Barack Obama could act without congressional approval to limit a key incentive for U.S. corporations to move their tax domiciles abroad in so-called "inversion" deals, a former senior U.S. Treasury Department official said.
• Bloomberg Gold bulls boost bets on rally as prices extend drop
• Corporate Artful Dodgers Leave Taxes To the People - Paul Krugman, NYT
• How Paul Krugman Fudged the Truth on U.S. Debt - Gene Epstein, Barron's
• This Week's FOMC Won't Be Totally Uneventful - Richard Moody, Regions
• Will Real GDP Please Stand Up - John Mauldin, Thoughts from the Frontline

[M Kehoe]

Good afternoon. Thanks for the thread.

imho income inequality is a good thing. Only a Marxist would want everyone to get paid the same amount.

Goes against nature and the law of supply and demand: how many people can do heart surgery, vs. how many people can do burgers.

So you need a heart transplant? Go to McDonalds.

5.56mm