Economy Now

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Author Archives: Steve Hargreaves
  • America's most unequal cities

    And the most unequal city in America is… Atlanta! Where the rich earn nearly 19 times the poor.

    A new study from the Brookings Institute analyzed data from the U.S. Census Bureau and ranked America's 50 largest cities. It compared the household income of the richest in each city -- defined as the 95%th percentile -- with that of the poorest, or the bottom 20% of households.

    But the reason Atlanta is so MORE

    - Feb 21, 2014 12:40 PM ET
  • Making it into the middle class

    It's nice to think one can easily go from being dirt poor to filthy rich, but it doesn't usually work that way.

    Of people born into lower income households, few will ever make it into the middle class, according to a recent study from Pew Charitable Trust. Only a tiny percentage rise into the highest income bracket.

    Of those that did move into at least the middle class, they had these traits MORE

    - Nov 13, 2013 10:36 AM ET
  • Putting U.S. debt in perspective

    The recent shutdown spat and debt ceiling brawl in Washington was about many things – pride, power, a hatred of big government, Obamacare, perhaps Obama himself. But nestled among those concerns is debt – specifically, a fear that we're borrowing more than we can afford.

    So how bad is it?

    The raw number looks pretty bad.

    But before people go cutting up social security cards or building doomsday shelters, consider this: most nations MORE

    - Oct 17, 2013 5:00 AM ET
  • Shutdown week 2: Still hurts

    As the government shutdown finishes its second week, many Americans are feeling the pain.

    Paychecks getting hit

    Furlough days sliced $600 from Tammy Woodard's paycheck as a contracting specialist at Aberdeen Proving Ground in Maryland. The mom of two-year-old twins needs that money to pay for daycare and doctor visits for her sons Levi and Preston. Also, the mounting furlough days, from both the sequester and the shutdown, has made it tough MORE

    - Oct 11, 2013 5:26 PM ET
  • Why Syria matters to oil markets

    As a U.S. military strike against Syria grows increasingly likely, oil prices have slowly crept higher.

    Syria itself produces very little oil.

    But its neighbors produce a lot of it. The fear is that these neighboring countries could get dragged into the conflict, and oil production and transport may be interrupted.

    The possibility of these counties becoming engulfed in the war is remote, which is why U.S. oil prices rose only $5 a MORE

    - Sep 5, 2013 9:00 PM ET
  • Where U.S. aid to Egypt goes

    In the photos and television footage of the military takeover in Egypt over the last few weeks, it's impossible not to notice how many of the weapons on the ground are U.S.-built. Humvees, armored personnel carriers -- protesters have certainly noticed the "made in the USA" stamps on tear gas canisters.

    But this is actually the small stuff. For the last few decades the United States has given Egypt billions in MORE

    - Aug 20, 2013 12:48 PM ET
  • China, OPEC and the future of energy

    Already guzzling more energy than the United States to feed its power-hungry manufacturing sector, China is expected to use twice as much energy as the United States by 2040.

    This from the U.S. Energy Information Administration's latest International Energy Outlook, released Thursday.

    The central theme, which hasn't changed much in the last several years, is that under current policy, the world will use a lot more energy and emit a lot more MORE

    - Jul 26, 2013 10:00 AM ET
  • U.S. leads global arms exports surge

    Worldwide arms exports are surging. They're up nearly 30% since 2008, according to a new report from defense analyst IHS Jane's.

    Weapons exports totaled $73 billion in 2012, up from $57 billion four years earlier. Total worldwide defense spending in 2012 was $1.6 trillion.

    The United States far outpaced the pack, and is projected to hold that lead in 2021.

    Unsurprisingly, the BRIC countries -- Brazil, Russia, India and China MORE

    - Jun 27, 2013 6:00 AM ET
  • Let China pump Iraq's oil

    A big chunk of Iraq's oil production is going to China, according to a story Monday in the New York Times. That may be a good thing for both U.S. companies and consumers.

    The Times reported on what has been an ongoing trend -- companies from China and elsewhere winning Iraqi oil contracts. According to the story, nearly half of Iraq's oil now goes to China.

    The article played up the seeming MORE

    - Jun 3, 2013 1:46 PM ET
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  • Women tackle rig work (and bias) in oil industry

    On Tuesday, CNNMoney ran a story on how women are landing a big share of new jobs in the oil and gas industry -- 46% according to one recent survey.

    One expert said he thought most women are gravitating toward more brainy jobs like geologist or engineer, as well as jobs in offices. Anecdotal evidence suggests that's true -- the woman we profiled worked as a liaison between engineers MORE

    - May 29, 2013 11:29 AM ET
    Posted in: ,
  • Are you working less but maintaining the same lifestyle?

    CNNMoney's #YourEconomy series moves beyond the numbers to look at the people who make up our economy.

    Some people have been able to put in fewer hours on the job while maintaining the same or better lifestyle, be it through a generous pension plan, smart investments, or some other wealth building strategy. Is this you? If so, tell us how you did it.

    Your name and comments will not be published without MORE

    - May 29, 2013 9:56 AM ET
  • Does your profession have a demeaning nickname?

    CNNMoney's #YourEconomy series moves beyond the numbers to look at the people who make up our economy.

    Does your profession have a demeaning nickname? Examples include pig (cop), hack (journalist), ambulance chaser (lawyer), etc. Do people in your profession talk about it? Does it bother you?

    Share your story with our reporters using the form below and you could be featured in an upcoming CNNMoney article. Your name and comments will not MORE

    - May 28, 2013 2:33 PM ET
About This Author
Steve Hargreaves
Steve Hargreaves
Senior Writer, CNNMoney

Steve Hargreaves is a senior writer covering economic, energy and environmental issues at CNNMoney. Previously, he worked out of Istanbul and Bangkok, and has been published in the Village Voice and the Australian Financial Review. He tweets at @HargreavesCNN

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