Stock Market Hustle – Three Ways Wall Street has Created a New American Serfdom. The Overly Expensive Mortgage Deduction, Wall Street Pseudo-Rally, and Attacking the Poor.
Last week the S&P 500 almost reached an impressive 80 percent gain from the red abyss seen in March of 2009. This puts this stock market rally up in the ranks of the strongest and fastest market turnarounds in history. Yet on Friday news of Goldman Sachs betting on toxic mortgages sold to clients brought […]
The Great American Bank Heist – On the Day we Reach a Monthly Foreclosure Filing Record Banks Announce Record Profits and the Stock Market is up 80 Percent.
It is rather fitting that on the day we hear about banks reaching record profits once again, because after all it is so difficult to borrow at zero percent and gamble in the stock market and make a gain, that we also find out that March was the highest month of foreclosure filings ever (and […]
The Invisible Recovery – 40,000,000 Americans Receiving Food Stamp Assistance – Since 2000 23 Million Americans have been added to the Food Assistance Program.
The latest food stamp data for January of 2010 shows that 39,430,724 Americans are receiving food stamps or are part of the supplemental nutritional assistance program (SNAP). If you make the acronym and name long enough and with a neutral undertone average Americans won’t fret that 40 million of their fellow neighbors are one government […]
State and Local Budget Crisis Black Swan – California paying out $100 Million per Day in Unemployment Insurance. Detroit’s Shrinking Population Crushes Revenues. The Employment Situation at a Micro Level.
One stunning statistic that hit this week regards California’s unemployment insurance claims being paid out. California is paying out some $100 million per day in unemployment benefits. I’m not sure if I would call it a “benefit†but more as a buffer to get by. In reality if we really want to get a pulse […]