Breaking the American Bank – Banking Propaganda and Using the American Middle Class as a Credit Card for Wall Street Excess. How About we let the Average American Borrow from the Federal Reserve at 0 Percent and cut out the Loan Shark?
Banks are showing their true colors and what little regard they have for the average American. As they advertise with cute and friendly faces assuring consumers they are looking out for their best interest, behind their backs they send in a locust of lobbyist onto Washington to do everything in their power to gut any sensible financial regulation. The vultures are picking off every piece of what used to be the middle class. This is the model of the new banking and financial system that many will have to contend with. Americans have seen their access to loans and credit contract at the fastest pace in history while banks have now opened up an unlimited credit card with the taxpayer paying the bill for too big to fail. Banks are doing their best to create a narrative that “if we didn’t bailout the banks then the world would have ended storyline†but the vast majority of Americans did not support the banking bailout.
Squeezing the Last Drop of Productivity from the American Working Class – 18 Percent National Underemployment and why Wall Street and the Government are Cheering Your Financial Failure.
The American financial press cheered on Friday when “only†36,000 jobs were lost in February. This if you haven’t noticed now passes for good economic news. The unemployment rate remained unchanged because the actual workforce continued to show a decline yet Wall Street somehow viewed this as positive developments. And why not? The middle class is under assault from every angle. Things are so twisted with propaganda that many Americans now believe that the banking elite are actually looking out for the well being of American workers. As news of the job losses somehow echoed as positive developments, more and more Americans are continually being kicked out of their homes from banks they helped to bail out. Irony has no meaning to Wall Street.
The Middle Class Financial Compact Being Washed Away – Income Dilution and the Saving Disparity. 57 Million Households Live on $52,000 Per Year or Less.
The middle class is finding itself struggling to keep what was once seen as staples of a burgeoning working class in our country. Part of this battle has come from a system that has rewarded easy finance on the backs of the working class. Take for example residential real estate. For decades, this was probably one of the most boring and dull sectors of the economy. Residential real estate, if you were lucky, only tracked the overall inflation rate. That was the case until the banking system figured out a way to securitize bread and butter mortgages and turn them into securities for global consumption. Yet that game is now coming to a quick end. The middle class are literally being squeezed out of their homes. Healthcare costs are also cutting deeper into the wallets of most American families and many are finding that they have no coverage as unemployment is still at record levels. This decade will be a struggle for the middle class to save and prosper.
Commercial Real Estate Problems in Financial Purgatory – $3.4 Trillion Debt Market and Expansion of Interest Only Loans to Finance CRE Deals. CRE Debt Found its way into Pension Funds.
The Congressional Oversight Panel put out a daunting report regarding the commercial real estate market. Commercial real estate is an enormous market with $3.4 trillion in debt secured by office space, malls, and apartment complexes to name a few examples. Commercial real estate does a fairly good job as being a barometer for the actual recovery on the ground that most average Americans will feel. If middle class Americans feel ready to spend again and are expanding their consumption, then more and more office space will be occupied. But looking at current vacancy rates we get a diverging picture of the recovery we keep hearing about but seem to escape the grasp of 95 percent of the population.