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Mark Gongloff
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Mark Gongloff is managing editor for business and technology at The Huffington Post. He was previously a reporter, editor and blogger at The Wall Street Journal and CNN/Money. He can be reached at Mark.Gongloff@huffingtonpost.com. Follow him on Twitter at @markgongloff

Entries by Mark Gongloff

All The Wealth The Middle Class Accumulated After 1940 Is Gone

(0) Comments | Posted October 20, 2014 | 10:36 AM

Here's more proof the middle class is dying.

The middle-class share of American wealth has been shrinking for the better part of three decades and recently fell to its lowest level since 1940, according to a new study by economists Emmanuel Saez of the University of California, Berkeley,...

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Janet Yellen: Rising Income Inequality Could Seriously Harm The U.S. Economy

(125) Comments | Posted October 17, 2014 | 9:14 AM

The Federal Reserve is sounding increasingly alarmed about income inequality.

"The extent of and continuing increase in inequality in the United States greatly concern me," Fed Chair Janet Yellen said in a speech at an inequality conference in Boston on Friday. Her comments come just days after Swiss...

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Dow Has Its Worst Day In Years Amid Global Market Freakout

(180) Comments | Posted October 15, 2014 | 9:57 AM

Markets just had an unusually scary day in a famously scary month.

The Dow Jones Industrial Average fell as much as 460 points, or nearly 3 percent, in early afternoon trading on Wednesday, its worst such swoon since September 2011. That was just part of a broad global piñata-whacking that...

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Key Inequality Measure The Highest Since The Great Depression

(622) Comments | Posted October 14, 2014 | 10:20 AM

You know inequality is getting bad when it's making a Swiss bank uncomfortable.

The ratio of wealth to household income in the U.S., a measure of inequality, is the highest it has been since just before the Great Depression, Credit Suisse noted in a 64-page report on global...

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Germany's Austerity Obsession Could Take Down The Global Economy

(109) Comments | Posted October 13, 2014 | 11:40 AM

Austerity is the opposite of the gift that keeps on giving: It just keeps taking and taking.

Germany, the world's homeland for austerity obsession, is learning this firsthand. Its economy has hit a rough patch lately, likely worsened by its adamant refusal to spend just a little bit more money...

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Carl Icahn Asks Apple To Give Shareholders More Money

(15) Comments | Posted October 9, 2014 | 9:16 AM

Billionaire activist shareholder Carl Icahn wants Apple to give away some of its mountain of cash to shareholders.

In a letter to Apple CEO Tim Cook, Icahn said Apple's stock price was still way too cheap at roughly $100 a share. He thinks it's really worth more than...

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China's Economy Just Overtook The U.S. In One Key Measure

(452) Comments | Posted October 8, 2014 | 8:42 AM

This was inevitable, but it still feels momentous: By one important measure, China's economy is now the biggest in the world, topping the United States.

China's gross domestic product is worth $17.6 trillion, adjusted for China's relatively low cost of living, compared with $17.4 trillion for the U.S., the International...

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U.S. Creates 248,000 Jobs In September; Unemployment Rate Falls To 5.9%

(1202) Comments | Posted October 3, 2014 | 8:33 AM

The job-market recovery from the Great Recession has been frustratingly slow, but it has been steady -- the steadiest job recovery in U.S. history, in fact.

President Obama is chided on the right and the left for the anemic recovery, but he can counter that it has at least...

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JPMorgan Says Data Breach Hit 76 Million Households

(89) Comments | Posted October 2, 2014 | 5:17 PM

A cyber attack at America's biggest bank this summer affected more than half of all U.S. households -- far, far more than previously estimated, and the latest in a string of massive, unnerving data breaches.

The attack at JPMorgan Chase affected the data of 76 million households and 7 million...

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Ebola Stocks Jump On News Ebola Has Hit The U.S.

(6) Comments | Posted September 30, 2014 | 6:07 PM

Now that the deadly Ebola virus has arrived in the United States, there is only one logical thing to do: Buy stocks!

Yes, shares of companies that make, or are trying to make, Ebola vaccines and treatments jumped in after-hours trading on Tuesday on news of the first...

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'The Ray Rice Video For The Financial Sector Has Arrived'

(73) Comments | Posted September 26, 2014 | 8:44 AM

We always pretty much knew that our banking regulators were captured by the industry they regulate, and now we apparently have proof.

"The Ray Rice video for the financial sector has arrived," famous author and finance-explainer Michael Lewis declared on Friday morning. He was referring to a

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Apple Stock Slammed By 'Bendgate,' iOS 8 Upgrade Glitches

(186) Comments | Posted September 25, 2014 | 11:57 AM

Apple shares are sinking under the weight of too many -gates.

Apple's stock price was down 3 percent on Thursday morning. This is probably because you can't fly a dead-cat-copter without hitting some story about problems with Apple's new phones and software. Here is a chart, courtesy of...

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Company You've Never Heard Of Is Now Bigger Than Facebook

(275) Comments | Posted September 19, 2014 | 12:05 PM

The Chinese company Alibaba started trading on the New York Stock Exchange Friday after the biggest initial public offering in human history. It immediately won ALL OF THE MONEYS.

At its opening price of $92.70 a share -- representing an immediate 36 percent windfall for insiders...

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Here Are The Richest And Poorest Big Cities In America

(53) Comments | Posted September 18, 2014 | 11:42 AM

Washington, D.C., rules everything, apparently:

These numbers come from new Census Bureau data on...

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45 Million Americans Still Stuck Below Poverty Line: Census

(228) Comments | Posted September 16, 2014 | 10:23 AM

Despite five years of economic recovery, poverty is still stubbornly high in America.

More than 45 million people, or 14.5 percent of all Americans, lived below the poverty line last year, the Census Bureau reported on Tuesday. The percentage of Americans in poverty fell from 15 percent in...

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Tesla Shareholders Suddenly Realize They May Have Gone Too Far

(30) Comments | Posted September 15, 2014 | 3:27 PM

Elon Musk tried to warn you.

Tesla's share price fell about 9 percent on Monday after Morgan Stanley declared that the recent frenzied lust for the electric-car maker's stock had gotten juuuuust a bit ridiculous. Musk, Tesla's founder, made a similar observation a couple of weeks...

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How The New York Times Overhyped The Benefits Of Fracking

(56) Comments | Posted September 11, 2014 | 11:44 AM

If America's fracking boom is creating a job boom, it's hard to tell.

Maybe you've heard of the miraculous job-creating powers of fracking. President Barack Obama has claimed fracking could create 600,000 jobs. The Chamber of Commerce has declared that fracking creates "millions of jobs." This...

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Turns Out Ditching America To Dodge Taxes Isn't Always Great For Business

(163) Comments | Posted September 10, 2014 | 2:02 PM

We've been doing it wrong. Instead of trying to shame American companies into not buying foreign companies to avoid taxes, we should tell them it's bad for business.

sadobama

President Obama is disappointed in you, tax inverters.

Tax-dodging deals known as "tax inversions" could...

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America's 'Job Creators' Would Rather Do Anything But Create Jobs: Survey

(145) Comments | Posted September 8, 2014 | 11:06 AM

America's capitalists take every chance they get to remind us that they are our "job creators," but it turns out that their least-favorite thing on earth to do is create jobs.

Most U.S. business leaders would rather build robots, outsource work or use part-time employees than hire workers full-time, according...

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Economy Barely Budges In Disappointing Jobs Report

(362) Comments | Posted September 5, 2014 | 8:41 AM

Like the monster at the end of a horror movie, the lame, sluggish recovery that we thought was dead just crawled out of the grave to give us another scare.

The job market was lousy again in August after several months of decent growth. Employers added just 142,000 jobs to...

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