The law school bubble – At 50 law schools, 20% of the students are either unemployed, flunked out, or are unknown yet data does not show up in national rankings. Many more pass bar exam than actual job openings in legal field. Legal bubble is another tangent of the higher education bubble.
The higher education bubble has gotten a solid amount of press coverage in the last couple of years. Even with student loan debt lurching towards the $1 trillion mark the higher education bubble train keeps moving along. Part of this has to do with the odd financialization of higher education where things are so extreme [...]
The university of financialization – science and math graduates opt to go into the gambling fields of Wall Street banking instead of building productive jobs for society. Many non-tech majors choose lower paying fields while going into massive debt. Youth summer employment drops from 60 to 46 percent in last decade.
Going to college has always been a dream for many Americans. Parents have high hopes for their children going to a good school and coming out with a degree that has made them more well rounded as citizens. But this desire may not be coinciding with the marketing jargon that spews out from the industry. [...]
The great deleveraging event – household debt has fallen 4 percent since recession hit. Household debt has fallen dramatically from the peak when household debt aligned itself with annual GDP.
The debt bubble bursting has jammed the bottom line of American households. Debt and money are synonymous for many households in our current economy. The ability to spend, or buying capacity, is looked at in the same light as savings from many in the financial sector. This is why data recently released shows the balance [...]
The catastrophe of our economy for the young American worker. Average college debt higher than typical new automobile cost, annihilation of pensions, and younger Americans moving back home because of financial necessity.
The economy for young Americans might as well be in a parallel universe to the stock market run since early 2009. Talks of recovery must fall on confused ears as many young college graduates compete for fewer jobs with higher amounts of student debt. In the last decade college graduates have encountered the highest tuition [...]
The sordid details of the employment market – Before recession hit 5,000,000 job openings were available while today there are 3,000,000. 1,000,000 Americans have completely quit looking for work and average duration of unemployment is 40 weeks, twice the amount of the 1980s recession.
There is a growing disconnect in America as the middle class is hollowed out. Many Americans hear talks of a recovery that is now going on three years but look at their tight monthly budgets and wonder what recovery is being discussed. The median household income is roughly $50,000 and with rising food, healthcare, energy, [...]
EBT Nation – Electronic Benefit Transfer. Since the recession ended in summer of 2009 we have added 14,000,000+ Americans to food stamp programs. Family Dollar Stores up 23 percent in 2011 while overall stock market flat.
They say a nation is not measured on how it treats its wealthiest, but on how it treats those that are struggling. From this base the mission of the United States is becoming muddied by the large scale financial speculation that has fractured the core of our economic system. Everywhere you look you are starting [...]
Las Vegas real estate and the dynamics of a lower priced housing market – With median home prices around $100,000 they now reflect the reality of a lower paying service sector economy. Foreclosures and short-sales make up over 70 percent of all sales activity.
Las Vegas is a case study in the limits of the housing bubble but also the reflection of a new economy driven by a demand for lower price real estate. Wedged in the story of a collapsing real estate market is a new reality that many families are craving lower priced properties. Few places in [...]
Is college worth the money and debt? The cost of college has increased by 11x since 1980 while inflation overall has increased by 3x. Diluting education with for-profits. and saddling millions with debt.
Is a college degree worth it? Since the debt bubble burst spectacularly in 2007 many more prospective students are questioning the worth of a college degree. For so many decades it was simply taken at face value that getting a college degree, any college degree would be worth it. Slowly this perception has morphed when [...]
Welcome to the new model of retirement. No retirement. In 1983 over 60 percent of American workers had some kind of defined-benefit plan. Today less than 20 percent have access to a plan and the majority of retired Americans largely rely on Social Security as their de facto retirement plan.
As many Americans enter into retirement they are realizing one unfortunate thing. The new retirement plan is no retirement at all. Over the last few decades Americans were promised the idea of a comfortable retirement yet none of this has materialized because of financial swindling and a real estate bubble that will go down in [...]