Economic news that may surprise you

Kevin G. Hall, a reporter in the Washington bureau of the McClatchy newspaper company, reports thatBushecon the
prices of milk, eggs and other essentials in the American diet are shooting up by double digits. But hold on to your seats, here’s the real shocker in his article:

Half the nation’s families earn below the median family income of about $56,000. [Link, last paragraph]

The median family income is expected to increase next year, but leading
economists believe that half the nation’s families will STILL be below
it. Even more stunning, perhaps, is their dire prediction that one out of every four Americans will remain among the bottom 25 percent of wage earners. But on the positive side, they predict that the average American family will earn as much money in the first quarter of 2008 as they will in January, February and March combined.

If you enjoyed this piece, you'll love Melvin's novel Bala Takes the Plunge, available in North America through Amazon.com and McNallyRobinson.com You can also find it at major bookstores in India and Sri Lanka or online at FlipKart, IndiaPlaza, FriendsofBooks or other sites. A number of readers have written reviews of the novel. An excerpt of the novel can be read here.

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