The big swindle and a fog of debt – hiding the unemployed in the higher education bubble and three years of economic recovery equates to 11.5 million more Americans on food stamps.
A large part of our recovery is running on public relations trickery and smoke and mirrors debt machinery. Let me explain what I mean by this since on the surface we have been out of a recession since the summer of 2009. Government debt is soaring and public debt in certain sectors is flying off […]
The long debt emergency has arrived – From 1950 to 1980 total US credit market debt to GDP held a ratio of 1.5. Today that figure is above 3.5 with total US credit market debt at $54 trillion.
We are reaching a point of no return with global debt. The US will be running deficits for as far as the indebted eye can see. This isn’t a new or novel trend but the magnitude certainly is. Since we stepped on the deficits do not matter accelerator in the 1980s the US dollar has […]
Low wage America and the working poor – US has one of the highest number of employees working in low wage jobs of high paying industrialized nations. 1 out of 4 Americans employed work in jobs that pay less than $10 per hour.
Low wage jobs have been a big part of the so-called recovery. What they also signify is a more troublesome trend that continues to eat away at the middle class in this country. I’ve noted that the per capita average income for Americans is $25,000 and many seem to be shocked when they hear how […]
Educating students to debt – Student loan debt now second largest sector of household debt approaching $1 trillion. 14 percent of consumers have one account in collections.
College debt is fueling the out of control higher education bubble. The Federal Reserve tracks most household debt sectors very carefully including mortgage debt, auto debt, and credit card debt. You would think that they would follow student loan debt carefully. That was not the case until recently. More disturbing however is that student debt […]