Over the past week, programmers have been having a huge discussion on the ethics of secretly automating their jobs, after one of them posted a question about it on Stack Overflow, a self-help site for programmers. This anonymous programmer said he was starting to feel guilty about how he quietly turned his whole job into less than two hours of work a week by writing a bunch of scripts. All the work he was hired to do is getting done, but he works from home and hasn't told his boss about the scripts.
It turns out that all Americans, regardless of income, spend a large percentage of their income on luxuries. People who make the most money spend the biggest chunk of their incomes on luxury goods, but even the poorest households spend a significant amount for luxuries, according to an analysis released this week by Deutsche Bank Research. The wealthiest families (the top fifth of earners) spend around 65% of their incomes on luxury goods and 35% on necessities, according to the study, which looked at spending habits between 1984 and 2014. Middle-income households weren’t far behind: They spend 50% on luxuries and 50% on necessities. Even the lowest income families (the bottom fifth of earners)
As car buyers’ obsession with bigger, pricier vehicles grows, so does their willingness to take longer to pay for them, says new analysis from Edmunds.com. The average auto-loan length reached an all-time high of 69.3 months in June. That’s 6.8% longer than five years ago, said the site that provides auto industry statistics and news. The average amount that buyers financed was hit with the biggest uptick for the year last month, at $30,945, or up $631 from May. The financing trend also lead to the highest monthly payments for the year, now averaging $517, which increased from $510 in May. Read: Tesla’s $35,000 car is about to roll off factory lines two weeks ahead of schedule “Stretching out