Financial capability for all

Millions of U.S. families find themselves in precarious financial circumstances, living on the wrong side of the growing income and wealth divide. Despite the recent economic recovery, average wages buy about the same amount of goods and services as they did 40 years ago. The federal minimum wage, adjusting for inflation, buys less today than it did in 1968. Income increases have mostly gone to top income earners. Meanwhile, household wealth is even more concentrated. The top 20% of households own 90% of wealth, with an average net worth of nearly $3 million in 2016. Meanwhile, net worth for the bottom 40% of households is negative $8,900, that is, they owe more than they own.

Serena redux: waiting to exhale

B y now, much has been written about the Serena Williams-Naomi Osaka-Carlos Ramos fiasco at the 2018 US Open. During the women’s final, the umpire, Carlos Ramos, issued Williams a warning for suspected coaching from her player’s box. When Williams strongly denied she was being coached, which is strictly prohibited in tennis, Ramos levied another penalty against her, stripping her of a single point. However, during a critical juncture in the second set, Williams revisited the discussion and demanded an apology from Ramos for suggesting she cheated. Ramos ultimately took a game away from Williams making the score 3-5 and placing Williams at a deficit from which she could not recover. Taking a game away from a player in this manner has never happened in a Grand Slam final.