For the Rich, Sleep a Status Symbol

You might lock in those nasty memories: Study

(NEWSER) - Snoozing after experiencing a traumatic event might forge the negative memories and emotions in the brain, a new study suggests. UMass researchers exposed 100 adults to unsettling images and then allowed half to sleep and kept the other half awake. Twelve hours later, the subjects who stayed up displayed a weaker emotional response and weaker memory of the images than the ones who slept, reports ABC News . More»

Definitely consider pre-med

(NEWSER) - Want your kid to make it into the 1%? Then the New York Times ' Economix blog knows which majors you might want to steer him or her toward. In an analysis of census data, it found that the majors with the best chance of making it into that coveted top 1% are:

1. Pre-med: Of those who major in pre-med programs, 11.8% make it into the 1%. However, just 0.9% of all 1-percenters majored in pre-med.
2. Economics: Of those who major in econ, 8.2% reach the 1%. And a relatively large share—5.4%—of 1-percenters are econ majors.

Figures show widening wealth gap, and with it polarization

(NEWSER) - Before he ran for Congress in 1974, Gary Myers was a steel mill worker. His campaign set him back $33,000. Today, Myers’ seat is occupied by Mike Kelly, a wealthy car dealer who married into the Phillips oil fortune. His campaign cost $1.2 million. That contrast is emblematic of the widening wealth gap between members of Congress and their constituents, the Washington Post observes. Between 1984 and 2009, the median net worth of House members more than doubled—from $280,000 to $725,000—even as median household income declined by $100 to $20,500. More»

Stanford study says numbers have dropped sharply since 1970

(NEWSER) - A major new study from Stanford finds that America's middle class is shrinking in a big way, reports the New York Times . The researchers looked at 117 of the nation's biggest metropolitan areas and discovered that 44% of families live in areas defined as middle class, down from 65% in 1970. Meanwhile, the number of families living in affluent neighborhoods doubled to 14%, while those in poor neighborhoods rose from 8% to 17%, notes Reuters . In short, the income gap appears to be widening. More»

Gap has widened in past 25 years: Pew

(NEWSER) - A new analysis by the Pew Research Center shows a widening age gap when it comes to wealth: In 2009, a typical household headed by an adult aged 65 or older had 47 times more net wealth than its counterpart headed by someone younger than 35. That’s a median of $170,494 versus $3,662. In 1984, that gap was $120,457 versus $11,521—a 10-to-one ratio—but between 1984 and 2009, wealth was rising for households headed by older adults while falling for households headed by younger adults. More»