Arrested economic development: 36 percent of Millennials living at home delaying financial adulthood. Less than one-third of Millennials employed.
Young Americans are living at home in record numbers. Millennials are living at home for much longer because of the poor economic conditions for the young. Think about the perfect storm of financial pain for young Americans. College costs are astronomical and many are going into massive debt to pursue a college education. If not, […]
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 […]
The Rise of a Semi-employed America: Amazon to hire 70,000 part-time workers while Merck will fire 8,500 full-time employees. Before recession 4 million part-time workers today over 8 million.
The US is seeing a dramatic rise in the number of part-time workers. The reason many employers are going with part-time hiring is that they usually forgo any benefit payments but also have more flexibility in firing these workers when they no longer need them. This may also explain the rise in renting households as […]
Modern day financial repression and disinformation: Financialization of America creates incentives for massive income inequality.
America in the last couple of decades has undergone a massive reformation when it comes to the financial system. The ability to convert everything and anything into a tradable security has been the biggest goal of Wall Street and has captured our entire economy like a starving grizzly bear chowing down on Alaskan salmon. Even […]
The consequences of bubblenomics: Fed balance sheet increases to $3.5 trillion, negative interest rates since 2009, and part-time employment at record high.
While the Federal Reserve mumbles about tapering back quantitative easing, the balance sheet the Fed is carrying tells us an entirely different story. The latest report shows that the Fed has grown its balance sheet to a stunning $3.5 trillion. The ability to travel with an economic blindfold has been a strategy the Fed has […]
Bread, butter, and food stamp economy: Is the US developing a permanent under-class of citizens economically?
The American economy has developed a deep disconnect between its financial markets and the working and middle class. The stock market has soared by 138 percent from the low reached in 2009. Yet very little of this has trickled down to the majority of Americans. In fact, most Americans actually saw little to negative growth […]
Americans are slowly creeping back to their non-saving and debt based spending ways: Drop in the savings rate and shift in type of debts being taken.
The personal saving rate in the United States is on a multi-decade decline. Part of this has to do with Americans putting their money into alternative savings vehicles like 401ks and IRAs but a large part of this has to do with Americans simply not saving. Roughly one-third of US households have no savings to […]