Apr 25 2013

The incredibly uneven recovery: Net worth of bottom 93 percent declines by $0.6 trillion while top 7 percent net worth increases by $5.6 trillion. Why? Most Americans don’t own a sizable amount of stocks and bonds.

One unique signature of this economic recovery is how narrow it is.  When we look at actual wealth, the net worth figures of Americans, we see some dismal numbers.  In fact, what we find really isn’t a recovery at all if we look at 93 percent of the country.  Then again, with most of Congress […]

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Apr 22 2013

Reinventing GDP: US GDP to be revised in July by adding “intangibles” to the tune of $500 billion. The make believe economy.

The US debt-to-GDP ratio is now quickly reaching insurmountable levels.  It is interesting that a paper citing this issue is now being openly discredited as if this is reason enough to put on the rocket boosters of quantitative easing.  Japan has gone so far off the deep end that they are now intervening in their […]

Apr 19 2013

US households are tapped out on debt: While US households are forced to eat austerity measures financial institutions load up on debt and purchase assets at rock bottom prices.

US households are tapped out with debt.  Debt matters.  Contrary to what is being spouted out over the airwaves having too much debt does cause problems.  American households tipped over this point when total household debt reached annual GDP.  This is a critical juncture and results in massive deleveraging.  There doesn’t seem to be answer […]

Apr 15 2013

The coming deleveraging for Canada – Unit labor costs in manufacturing above US labor costs and household debt-to-income at 160 percent.

Our neighbors to the north in Canada are going to face a serious deleveraging shortly.  This isn’t hyperbole or some off the wall call but based on evidence of what happens when economies get into too much back breaking debt.  If the largest trading blocs, the US and Europe had to have their day of […]

Apr 12 2013

Does inflation matter? The real cost of living for middle class Americans. Fed on path to growing balance sheet to $4 trillion.

Does inflation matter?  If you ask this question to the Fed, it appears like it doesn’t.  The Fed is doing everything it can to stoke the fires of inflation.  Instead, what it is doing is causing further asset bubbles and misallocation of capital in markets.  For most people the cost of living is becoming more […]

Apr 8 2013

Food service workers at a record high in US economy: Record percent of Americans now employed in food services as a share of total employment coupled with peak food stamp usage.

One of biggest contributors to jobs over the last few years has come from the low-wage food service sector.  A record 7.6 percent of Americans now work in food services and drinking places.  Given that we have 47+ million Americans on food stamps and this figure has boomed in the last decade, it should come […]

Apr 6 2013

Where did the American worker go? 663,000 people were removed from the labor force pushing the figure to 90 million Americans not looking for work.

The employment report was very weak no matter how you sliced it.  The unemployment rate fell but this was largely driven by an incredibly large number of people dropping out of the labor force.  This recession has been extremely tough on US households.  The recession was technically over in the summer of 2009 which seems […]

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