Fooled by financial randomness – Number of millionaires back to late 1990s levels and the end of a 30 year bull market. Real estate and stock market speculators luck out but want to believe in Wall Street religion.
It is hard to convince a generation of Americans built on the “greed is good†motto that we have just lived through a once in a lifetime bull market in stocks and real estate. I’m reminded of Michael Lewis and his semi-autobiographical book Liar’s Poker printed in 1990 that was to serve as a warning […]
The financial raid against the middle class – 9 of the 10 largest occupations in the U.S. have median wages between $8 per hour and $14per hour. The middle class is inheriting a new serfdom drowning in mountains of debt. The new two income trap.
The war against the middle class is silent and has grown since the recession started. We don’t hear much about this because in large part, those falling out of the middle class don’t have the funds to purchase airtime with the media who is wedded to Wall Street. 40 million Americans now receive food assistance. […]
Blame the real estate bubble on California and New York. Why the housing bubble centered around 4 states and spread across the nation. The Southwest and Florida sunshine real estate infatuation. 45 percent of foreclosure filings come from 4 states.
When we hear about the foreclosure crisis we tend to paint with a very broad real estate brush. Without a doubt the housing bubble bursting is rippling throughout the country. Yet to assume all states are being impacted equally is absolutely incorrect yet mainstream media analysis usually talks about the “foreclosure crisis†as if it […]
Bankruptcy filings reflect a weak economy – 9 percent jump in bankruptcy filing in last month of data. Bankruptcy map shows Nevada and South have highest filing rates per capita. $79,000 income and $11 million in debt?
Bankruptcies are still plaguing this country and show deeper strain in the fabric of the economy. Average Americans are still very much dealing with the challenges of a deep and profound recession. Filing for bankruptcy is usually the end of the financial line for many Americans. Yet in the last month of data for March […]