The booming non-labor force in the United States: Those not in the labor force surged by nearly 1,000,000. A large portion of added jobs were in low wage sectors.
Any job is a good job for the headlines. While one part of the BLS survey showed that US payrolls increased by 200,000 last month, another survey finds that nearly 1,000,000 Americans dropped out of the labor force. That is right, a stunning 932,000 Americans simply dropped out of the labor force last month bringing […]
US households cannot avoid soft default consequences of deleveraging: While US households continue to unwind debt total public debt soars out of control.
The US is walking in a financial minefield. The recent government shutdown simply highlighted the mega dysfunction in our Congress run by millionaires. The government is in a deep capture by large financial interests. The IMF now has an indicator looking at household debt measured against GDP. Since the recession, US households have undergone a […]
Means-Tested recovery: Over 108,000,000 Americans received means-tested benefits in latest report from Census Bureau, more than are currently employed full-time.
The Census Bureau released some interesting data in October. One of the pieces of data that we knew was coming was the continuing decline of household income. This decline is in line with the growing income disparity that is occurring in the US. Another piece of data made this trend abundantly clear. The comprehensive data […]
McJobs for McAmerica – Fastest growing jobs in low wage sectors. Of 10 largest occupations in US only one pays more than $35,000 per year.
The end of the Great Recession has done little to protect the middle class. The largest employment growth has come from low wage positions. According to Social Security data on wages the per capita wage for Americans is $26,000. Your typical household is pulling in about $50,000 per year. The growth in low wage jobs […]
Blue pill of debt exchanges temporary increase in debt for inflation: Taking the blue pill of a fabricated world addicted on debt as US standard of living hits 10-month low.
Most of you have seen The Matrix where Neo is given the choice between taking the blue or red pill. The red pill would allow Neo to escape The Matrix and enter reality whereas the blue pill would allow him to stay wandering in the fabricated world of the Matrix. The US government in essence […]
The US cannot avoid a soft default even if a hard default is avoided: Debt ceiling already breached and US Treasury operating in emergency mode while US is paying $415 billion in annual interest expenses.
All the talk has shifted from the government shutdown to the US actually defaulting on outstanding debts. The markets were in deep fear but the last couple of days rumors that the debt ceiling would be raised put the rocket boosters on the stock market. Of course, the majority of Americans have little money in […]
Nothing left to financially lose: Biggest drop in confidence since Lehman Brothers and why some are unmoved by government shutdown.
The government isn’t the only thing that shutdown. Economic confidence in the US has also apparently shutdown as well. Many people, in particular those in the media, seem perplexed as to why and how this can happen. Unfortunately the current financial system has disenfranchised a large number of Americans. Enough to the point that politics […]