The Ladder

Speed of Light

from Flickr user Albert K Law

I have a pet theory that time speeds up after Thanksgiving and slows down again after New Year's Day. Data supporting this theory includes this week, when there's been a tremendous amount of news, releases and interesting developments and not nearly enough time to keep up with it all. The only way to keep up with the increased pace is a list, and, gasp, bullet points:

Inequality continued to be a major theme:

• The OECD debuted a new report on (record high) income inequality in member nations. The report is called "Divided We Stand" and OECD was good enough to make a helpful primer video.
• President Obama made a big speech in Kansas this week and highlighted inequality, saying:

"This is the defining issue of our time. This is a make-or-break moment for the middle class, and for all those who are fighting to get into the middle class. Because what’s at stake is whether this will be a country where working people can earn enough to raise a family, build a modest savings, own a home, secure their retirement."

• Recent guest Robert Frank rolled out a series on inequality in Slate:
  • Part 1--How "Expenditure Cascades" are Squeezing American the Middle Class
  • Part 2--Why Has Inequality Been Growing?
  • Part 3--The Progressive Consumption Tax
• We found out that, in 2007, six members of the Walton family had the same amount of wealth as the bottom 30% of the population.
• The racial income gap is breathtakingly large in DC, though a lot of progress can be seen in some of the close-in suburbs.
• We rolled out a series of short interviews stemming from our event, "Poverty, Inequality, Mobility, Oh My!" To try and answer the question "How are Families Really Doing?" Rachel Black sat down and talked with:
  • Matt Unrath about economic insecurity;
  • Melissa Boteach about poverty;
  • Erin Currier about economic mobility, and there's one more to come, when she sits down with Indi Dutta-Gupta to talk about income inequality.

The CFPB was all over the news this week as well:

• The White House signaled they were ready to fight over Richard Cordray's nomination to the CFPB by releasing a report on the importance of the office.
• President Obama upped the ante in the aforementioned speech:

"The fact is that financial institutions have plenty of lobbyists looking out for their interests. Consumers deserve to have someone whose job it is to look out for them. And I intend to make sure they do. And I want you to hear me, Kansas: I will veto any effort to delay or defund or dismantle the new rules that we put in place."

• In spite of the hot rhetoric, the Senate GOP filibustered Mr. Cordray's nomination. President Obama let the rhetoric get hotter, saying "every option is on the table."
• Jonathan Bernstein says the GOP's actions are "radical."
• Meanwhile, the CFPB continued to go about its business, unveiling a new, model, credit card disclosure form. It's pretty. Easy to read too. Not sure that's the ne plus ultra of reform, but it is a step in the right direction.

Like I said, things seem to move pretty fast this time of year. It's tough to keep up, but we're trying, and hopefully we're helping you to keep up as well.