Jul 26 2016

The largest pension fund in the country CalPERs continues to underperform: Weakest return since 2008-09 financial crisis.

The two largest public pensions in the U.S. are Calstrs and Calpers and collectively they oversea $484 billion for public workers in California.  Pensions have a hard time surviving in a low return world.  For example, these pensions seek out a 7.5% annual return which is simply unrealistic to do in a market that is […]

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Jul 19 2016

Gallup Economic Confidence Index plunges while stock market near record: Stock Market decoupled from financial well being of average Americans.

Gallup releases an Economic Confidence Index which should reflect the overall sentiment of Americans as it pertains to the economy.  With the stock market near record highs and the housing bubble market soaring, you would expect average Americans to be smiling from ear to ear with glee.  But when you click on over to Gallup, […]

Jul 12 2016

With a recovery like this, who needs a recession: 62 percent of Americans don’t even have $1000 in savings.

The stock market just hit another record high.  Yet only half of Americans actually own any stock.  Real estate prices are ebbing closer to their previous bubble peak.  Yet the homeownership rate is down.  The unemployment rate is down dramatically but we have over 94 million Americans not in the labor force.  This recovery seems […]

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Jul 6 2016

Those not in the labor force grows by 25,000,000 people from 2000 to 2016: During this same period those employed grew by 15 million and those unemployed grew by 6 million.

The unemployment rate looks dramatically better than it really is because of some funny accounting.  Our labor force looks dramatically different from what it did in 2000.  A large part of the low unemployment rate is coming from those not in the labor force.  I’m fascinated with this aspect of the employment situation because it […]

Jun 30 2016

The math on income inequality: Average annual income of the top 1% is $1,153,293 while that of the bottom 99% is $45,567.

Part of the challenge with distorted income distributions is that it hollows out the middle class.  The middle class in the United States is now a minority.  We have more people making higher incomes and more people making way less and this group is growing much faster.  Our economy has taken a bimodal distribution with […]

Jun 22 2016

Spending it all on rent: 11 million Americans spend half their income on rent. Another 21 million spend over 30 percent of their income on rent, a record high.

The financial raiding of the American middle class is moving full steam ahead.  The ridiculous structure of the banking bailouts and artificially low interest rates caused hot money from banks and big investors to crowd out regular families in the housing market.  Now here we are 7 years after the official conclusion of the Great […]

Jun 16 2016

Too damn broke to afford a house: Americans are largely missing out on home equity gains and there is little they can do about it.

The housing market is once again too expensive for most American families.  During the last housing bubble, many Americans were able to partake in the mania and enjoy equity gains even if they were as fleeting as a petal in the wind.  This time around most of the gains are going to investors and large […]

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