As more Americans save the typical too big to fail banking savings account is paying close to 0 percent in interest. At the same time the average credit card interest rate is over 14 percent.
The one silver lining of this crisis if there is one to be had is that many more Americans are actually saving more money. However the problem that many now face is historically low interest rates through bank savings accounts. Average Americans have few places to go receive a decent return (5% or lower) without […]
Middle class financially squeezed by the plutocracy – 13 million people added to food assistance from 2007 to 2010. Nearly 40 percent of all unemployed have been out of work for 27 weeks or more.
The mainstream press and their lack of focus or even caring about a shrinking middle class is disturbing. Yet this shouldn’t be a surprise given that their focus of appeasing their sponsors is directly focused at keeping people stuck in a debt induced sleepwalking financial nightmare. Wall Street has successfully infiltrated our government and most […]
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 […]
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 […]