Sep 25 2010

Wealth inequality rivals the months prior to the Great Depression – Americans would prefer a more evenly distributed wealth system. Over 80 percent of Americans still feel we are in a recession.

The official announcement that the recession is over underscores the massive disconnect between Wall Street and the rest of America.  Wealth inequality in America is at levels last seen right before the Great Depression ravaged our economy.  Yet the inequality has grown even more intense as this crisis has gone forward.  43 million Americans are […]

Sep 22 2010

The big banking sham and how the recession is over for the top 1 percent – Top 1 percent of banks control 80 percent of banking assets while household net worth is down $12.3 trillion from the peak.

The headlines read that the recession is over.  In fact, the recession has been deemed over since June of 2009 by the National Bureau of Economic and Research (NBER).  Yet the fact of the matter is working and middle class Americans are solidly in a deep recession.  There was a town hall that was televised […]

Aug 10 2010

The great American un-recovery: Banking failures and swindling the wealth from working and middle class Americans. Household assets off by $11 trillion from 2007 peak.

The economic profession and bankers on Wall Street have taken a hit to their credibility with missing the biggest recession since the Great Depression.  It is understandable for the average person on the street to miss something as nuanced as a tiny recession but for a group of professionals whose mission statement involves understanding the […]

May 30 2010

The great American debt purge – Americans more stressed out about debt. Mortgage, credit card, student loan, and auto loan debt up to $13.5 trillion. Average debt per household at over $120,000.

Every man, woman, and child would owe an average of $43,000 if we divided up mortgage, credit card, student, and auto debt in the United States.  Of course, this is based on the current population of 309 million.  But we know this isn’t exactly accurate since an infant really didn’t charge up a credit card […]

Feb 25 2010

The Ultimate Ponzi Scheme – FDIC is Backing $5.3 Trillion through the Deposit Insurance Fund that now has a Balance of -$20.8 Billion. FDIC has Cash and Marketable Securities of $66 Billion. Is that Really Enough to Back Every Account for $250,000?

The FDIC is running the biggest confidence game in the country.  The FDIC is now protecting through the Deposit Insurance Fund (DIF) some $5.3 trillion in deposits in banks across the country.  All of this is secured by an insurance fund that is now in the negative by $20.8 billion.  In the middle of this […]

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