Jul 19 2010

Fairytale economics – spending into poverty legend. How the allure and trappings of consumption led the middle class into a modern form of debt servitude.

Ludwig the II of Bavaria is rarely discussed in history class but most would recognize many of his castles especially the one that is replicated in Disneyland (Neuschwanstein Castle).  Ludwig spent money he didn’t have to indulge in his eccentric desire to build opulent castles.  Even wealthy royalty can put their balance sheet into jeopardy […]

Jul 5 2010

American middle class slowly disappearing under mounds of debt – How Wall Street and government sucked working and middle class Americans into perpetual debt serfdom.

People quickly forget about the nearly 1,000 point “flash crash” brought on by glitches in the Wall Street casino machinery.  Still no sensible explanation has been given but today the stock market now stands below the flash crash moment.  The middle class is witnessing the largest wealth transfer in history take place and it is […]

Jun 11 2010

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.  […]

Apr 29 2010

Not all is well on the housing front. Housing still too expensive for middle class Americans – 9 Years of Housing Inventory and 7 Million Homes 30+ Days Late or in Foreclosure. How the government is keeping and encouraging expensive housing.

Since the recession started in December of 2007, over 7 million foreclosures have been initiated.  In no other time in history have we seen this magnitude of problems in the housing market.  And these problems still persist.  It is estimate that another 6 to 9 million homes are at risk of foreclosure in the upcoming […]

Apr 24 2010

The Futile Act of Saving in America Today – No Money Down Car Purchases, Low Down Payment for a big Mortgage, and High Interest Credit Cards for Everyday Spending.

This recession did change spending, at least for a few months.  When the recession hit Americans had a negative savings rate, the first time ever we had the ability to spend more than we actually brought in.  As the recession progressed, Americans did start saving and we took the personal savings rate to 6% (this […]

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