Class of Underemployed: Nearly 50 percent of recent college graduates are working in jobs where no college degree is required.
We don’t send our young into the wilderness for a vision quest as a rite of passage. There are few things in modern society that signify a transition into adulthood. Going to college is one of them. And in debt addicted America, it is no surprise that for many, college debt is the first debt […]
Most Americans are too broke to afford to buy a basic home! The typical family is unable to purchase the standard $221,000 priced home. Home prices up 30% since 2012 while incomes are stagnant.
Most Americans still hold tightly that the American Dream involves owning a home. But that dream has come into deep questioning as banks and large investors crowd out the single family home market driving prices to ludicrous levels. Most Americans are scraping by and many need to do their shopping at dollar stores to get […]
The trend for part-time work sweeping the world: Part-time work dominating jobs in the United States, Canada, and Japan.
The employment statistics do a good job concealing the true nature of the workforce. The unemployment rate has dropped dramatically since the recession ended largely because millions of Americans are now no longer considered part of the workforce. This is an easy way to boost the employment rate without actually creating new jobs. Another trend […]
Too broke to leave home even at 35 years of age: Over 30 percent of young adults under the age of 35 living at home. Home ownership rate of young adults continues to plummet.
Young Americans are so broke, they can’t leave home. That might sound like the line of a really bad joke but this is the unfortunate situation in our economy. Many young Americans are saddled with mind numbing levels of student debt. Younger Americans are carrying the heavy burden of the $1.2 trillion in student debt […]
Why is the cost of college education so ridiculously high? Is the current cost of pursuing higher education justified or are we witnessing another bubble?
Last week I had the chance to visit a large and prestigious public university. While walking through the massive football field, one of the tour guides mentioned that they were planning on building another one close by. “What is wrong with this one?” I asked and the tour guide responded that they were looking to […]
Going for broke: The multiple lost decades of US household income. Is it possible to have a recovery while the standard of living collapses?
The recent Census data highlights a stark difference between the stock market and what families are facing across the United States. Households are struggling to keep ahead while the standard of living slowly erodes with the juggernaut that is the banking tide. There will be repercussions for what the Fed has done in terms of […]
The accelerating race to a student debt implosion: Federal student loans rose by $266 billion since 2011. 85 percent of consumer debt growth since 2011 because of student debt.
The Federal Reserve released an interesting report on consumer credit this week. While the mainstream spin is that it is good that consumer loans are growing, the vast majority of the growth is coming from the student debt portion. The student debt problems are starting to become dramatic given rising default rates combined with sub-par […]