Americans are slowly creeping back to their non-saving and debt based spending ways: Drop in the savings rate and shift in type of debts being taken.
The personal saving rate in the United States is on a multi-decade decline. Part of this has to do with Americans putting their money into alternative savings vehicles like 401ks and IRAs but a large part of this has to do with Americans simply not saving. Roughly one-third of US households have no savings to […]
Why do people feel poor even though the stock market is at a record high? The process of inflating asset bubbles and transferring wealth to targeted groups. S&P 500 up 145 percent from 2009 low.
The stock market provides a beautiful scent of success although most Americans will only catch a whiff of that aroma. The S&P 500 is now up 145 percent from the gloomy low reached in 2009. Even though this unrelenting trend upwards has added wealth to a few, the majority of Americans are still seeing the […]
Spend or be financially doomed: Idolizing the gods of consumption and stoking the fires of debt based speculation. Has the Fed crossed the line of no return?
The Federal Reserve has created the perfect environment where savers are chastised and debt based spending is glorified. Our economic engine is powered by the fires of consumption. This has been true for many decades. What is different about our current space in time is the punishment savers are taking. Many banks through savings or […]
The facts behind the mountain of student debt: 13 percent of students owe more than $50,000 and nearly 4 percent owe more than $100,000. Student debt grew by 284 percent from 2004 to 2013.
Many Americans view a college education as a way to build a better life. College is seen as an avenue for better prosperity and the ability to pull yourself up beyond your current circumstances. In fact, after World War II programs like the G.I. Bill allowed many Americans the opportunity to pursue a college degree. […]