Middle class annihilation one penny at a time – 64 percent of Americans do not have adequate savings for an unexpected $1,000 expense. The crushing blow to income and household wealth.
The American middle class is furious and this is reflected in how people perceive their failed government but also a financial system that has largely profited from the failures of millions. A recent Gallup poll shows that only 13 percent of Americans actually approve of Congress and the way they are handling their job. This […]
The rise of the new gilded age – Massive market volatility is a dramatic sign of an unhealthy economy – 14 of the 28 biggest percent declines since 1950 in the S&P 500 have come after 2008. Two of those volatile days have occurred in August of 2011.
Massive stock market volatility is not a good sign for the economy and like an EKG is telling us something is troubling the heart of the nation. The most tumultuous times in the stock market have occurred during times of great economic uncertainty. August of 2011 has quickly brought back the troubling memories of 2008 […]
The next massive debt bubble to crush the economy – 10 charts examining the upcoming implosion of the student loan market. $1 trillion in student loans and defaults sharply increasing.
In the land of predatory bubbles it looks like higher education is now fully caught up in the credit market implosion. In the same debt produced vein as housing, college used to be a relatively cheap bet with decent results in the long-term. Even if you went to public universities and picked up a degree […]
The four horsemen of the middle class apocalypse – what does it say that we as a nation bailed out the financially wealthy too big to fail banks yet failed to bail out the middle class?
What made the U.S. the envy of the world was the belief that if you worked hard enough and had the right kind of grit and intelligence that you would be able to enjoy the fruits of your labor. This is what built the solid middle class after World War II. The majority of people […]