The gold/oil ratio ends the week at 15.2, meaning the price of gold relative to the price of oil is just about right.
1231.8/81.01 = 15.2.
Friday, October 24, 2014
Bank Failure Friday: the 16th in 2014
The National Republic Bank of Chicago, Chicago, Illinois, failed tonight, costing the FDIC $111.6 million, a fairly big one by recent standards.
The bank was an Indian-American-owned bank, specializing in the hotel and motel lending business.
The rising share of US workers not making the average wage 1990-2013
The raw average of net compensation for Social Security purposes has risen 113% since 1990, from $20,172 in 1990 to $43,041 in 2013.
The share of workers not earning as much as the raw average of net compensation has risen 6% over the period, from 63% of workers in 1990 to 66.9% in 2013.
In 1990 there were 127.5 million wage earners, 63% of whom made less than $20,172. If 63% of workers in 2013 didn't make as much as the average wage of $43,041 instead of the actual 66.9%, they would have numbered 98.1 million in 2013. Instead they numbered 104.2 million.
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