Saying goodbye to the middle class concept of retirement – many workers plan to work up until they are 80 well beyond the typical life expectancy of Americans. How long will $25,000 last in retirement?
The romantic concept of being able to retire on a sunny beach with endless drinks is a modern notion largely pushed by mainstream advertising. It is hard for many middle class Americans to imagine a world where retirement is a luxury for the very few. However that is the path we are now following. The […]
The compression of generations – 25 million adults live at home with parents because they’re unemployed or underemployed. The crushing cost of a college education today.
The thought of moving out on your own and making your individual way in the world is very much an American trait. Certainly movies and television shows almost always assume every American has moved out on their own once adulthood is reached. What this recession has taught us is never take anything for what is […]
A new gilded age shines on America – 50 million Americans roam the countryside uninsured. 45 million Americans receiving food stamps up by 18 million since the Great Recession began in late 2007.
Much of the country is in psychological denial to the damage being created by the current recession. Some even believe that we are fully in a recovery. Part of this has to do with the way the safety net is designed but also the lack of coverage presented in the media. We have over 45,000,000 […]
The 20 year financial depression in American real estate. Why housing will remain a poor investment well into 2020.
The American housing market is floundering like a fish out of water. The economy is puttering along as middle class Americans confront a quality of life that is declining. Household incomes have fallen for well over a decade yet the dialogue from Wall Street and their political partners seems to focus on home prices rising. […]
The new Gilded Age – The psychology behind the aspirational rich in America and how people allow banks to swindle their financial security away.
A couple of weeks ago a survey of the ultra-rich by Fidelity Investments showed that most of these millionaires did not feel rich unless they had $7.5 million. Keep in mind that one out of three Americans do not have one penny to their name, not even stashed in the beat up mattress. It is […]
Collective financial insanity – FDIC backing $5.4 trillion in total deposits on pure faith – US banking operating with negative deposit insurance fund and massive debt leverage. The greatest Ponzi scheme known in the financial world.
People psychologically are programmed to believe in financial realities that benefit their own cause even if they have no merit in empirical data. Many also forget that banks, especially the investment kind have a notorious track record of running amok when allowed to. The FDIC and US banking is a perfect example of a system […]
Las Vegas is to the real estate bubble what Detroit was to the US automobile industry – Empty condo projects, apartments poorly built to face the desert sun, and the collapse of commercial real estate.
If Wall Street is the hub of American finance then Las Vegas was the manifestation of credit dreams going viral. Las Vegas, the beating heart of Nevada had a tremendous boom with the real estate bubble because it played into the narrative of making it big. Where else can unknowns strike it big and have […]