Welcome back debt! Total household debt rose by $63 billion last quarter pushing total household debt to $12.35 trillion. More than half of the debt increase came through auto loans.
The appetite for debt is now back in a furious way. Total household debt was up $63 billion last quarter driven largely by auto loans. Auto loans increased by $32 billion and the amount of auto debt outstanding is stunning. There is now a total of $1.14 trillion in auto loans floating in our economy. […]
California is land to the $100k minimum wage state worker: 220,000 highly-compensated state employees cost the public $35 billion.
There is one thing to discuss the minimum wage for servers and many others that work in the low paid service industry but it is another thing to discuss “underpaid” state workers. That statement cannot be said for California’s state employees. In a country where the median household income is $52,000 California seems to be […]
While people argue about what is real and fake news the widening gulf of inequality in the real world only continues to expand. This is actually happening and for the ultra wealthy that hold most of the wealth, all of this distraction is a good thing. The latest wealth report from Deutsche Bank Research shows […]
Housing in a time of rising mortgage rates: A big jump in mortgage rates is here to stay for these reasons.
In the midst of everything that is going on, the bond market took a big hit to the tune of $1 trillion. What this means is that mortgage rates tied to Treasury bonds had a massive move, the largest in many years. The 30-year fixed rate mortgage rate jumped to nearly 4 percent, the highest […]
The most expensive housing market in the world: Vancouver levies a $10,000 a year tax on empty homes. Not telling the truth and it becomes $10,000 a day.
While many areas of the US are now back near housing bubble territory after correcting, Canada never corrected and today has seen real estate values inch into the stratosphere. Global wealth, largely from China is fueling the flames of the Canadian housing bubble. While many that live in areas like Vancouver are frustrated in finding […]
94,609,000 adult Americans not in the labor force: In January 2009, 80,529,000 were not in the labor force. Now we’ve added 14 million Americans.
There is truly a silent majority in the United States and those are people that are not in the labor force. It is hard to believe but since January of 2009 we have added a whopping 14 million Americans to the already staggering number of adult Americans that are not in the labor force. Many […]
The story of inflation between 1996 and 2016 is of rising prices in things that you need: Prices skyrocket for middle class goods and services.
Inflation is rarely discussed in the mainstream press. Most people wake up every day and simply believe that prices go up as a natural state. These deeply held assumptions usually crack when new revelations happen like centuries ago with new scientific discoveries showing that our planet is not the center of the universe. Yet somehow […]