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 MORESteve Hargreaves - Nov 13, 2013 10:36 AM ET
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 MORESteve Hargreaves - Oct 17, 2013 5:00 AM ET
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 MORESteve Hargreaves - Oct 11, 2013 5:26 PM ET
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 MORESteve Hargreaves - Sep 5, 2013 9:00 PM ET
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 MORESteve Hargreaves - Aug 20, 2013 12:48 PM ET
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 MORESteve Hargreaves - Jul 26, 2013 10:00 AM ET
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 MORESteve Hargreaves - Jun 27, 2013 6:00 AM ET
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