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. […]
FDIC next government trillion dollar bailout? Since January of 2000 to October of 2007 we had 27 bank failures. From January 2008 to May 2010 the FDIC has closed down 237 banks. Why 1,000 bank failures will occur before the Great Recession is over.
The Federal Deposit Insurance Corporation (FDIC) will be the next billion and possibly trillion dollar government bailout. We have the FDIC that insures over 8,000 banks with an insurance fund that is in the negative. From 2000 to October of 2007 only 27 banks were closed down by the FDIC. Nearly eight full years and […]
5 ways that Wall Street and the U.S. Government punish the American saver – Artificial low interest rates, understating inflation, pushing people into the stock market casino, and destroying yield on traditional safe investment vehicles.
The only savers in the U.S. seem to be the investment banks. Four of the big banks on Wall Street turned out a perfect quarter as they have managed to leverage the zero percent funds from the Federal Reserve into government securities. At the same time, middle class Americans would be lucky to get 0.1 […]