When peak credit implodes on the consumer balance sheet – $1 trillion in consumer debt has been removed from the market since 2008. Only consumer debt category growing is student loan debt.
The U.S. insatiable consumer machine has reached a peak debt scenario. Household balance sheets are simply unable to take on more debt on their already financially sore shoulders. At the core of the Federal Reserve quantitative easing actions is the mission to lower the interest rate since consumers simply are unable to borrow more. By […]
California facing $20 billion budget deficits deep into 2016 – $25 billion budget deficit starring California in the face for the next fiscal year and overly optimistic economic predictions.
California, the wealthiest state in our nation is facing some Herculean financial troubles yet again. As the elections came to a dramatic close, it was announced that a $6 billion budget deficit emerged from “miscalculations†of potential revenue streams. The current Governor was overly optimistic in many respects including an expectation that the Federal government […]
The stalling of the California housing market – California Foreclosure Prevention Act has institutionalized a drawn out foreclosure process. 470,000 MLS listed and distressed homes in the state. California construction industry employing the same number of workers as it did in the early 1990s.
The state of California continues to grapple with the collapse of the enormous housing bubble. The Governor earlier in the week called for a special emergency session to deal with a $6 billion deficit that emerged just weeks after the state budget was signed and the ink dried. States with a large dependence on the […]
Dark Ages for a modern Middle Class – Modern day debt serfdom and rising prices not seen through the consumer price index. Coffee up 50 percent for the year.
Most Americans enjoy a good cup of coffee. Yet very few realize that coffee futures are now up over 50 percent for 2010. Creative packaging that includes smaller quantities but offers the same price helps delude many Americans into thinking their dollar still has the purchasing power of better days. This all occurs in a […]