Dec 5 2009

Bankruptcy Filings up 100 Percent from 2007: Americans Financially Unable to Meet Current Debt Payments. 85 Percent of Chapter 7 Filings are Classified as No-Assets.

The U.S. Courts released data last week closing out the 2009 fiscal year.  In the release we find that bankruptcy filings are up 100+ percent from 2007.  No other economic vehicle shows deeper signs of financial strain than bankruptcy.  Bankruptcy is the end of the road for many Americans.  Although businesses file for bankruptcy as […]

Dec 3 2009

FICO and the Credit Card Financial Prison: How a Three Digit Credit Score Reflects Consumerism and not Financial Independence.

Americans carry $900 billion in credit card debt.  Approximately 75 percent of all those eligible for credit, those that are 18 years or older, have a credit rating score at any given time.  This mysterious three digit score named a FICO Score is the basis for loans, interest rates, and should reflect your ability to […]

Nov 2 2009

Bankruptcy Filings to Match Divorce Filings in 2009: 1.5 Million. 35.8 Million Americans on Food Stamps – 11 Percent of the Population. The 5 Indicators of the Misery Index.

It is a sobering fact that in 2009, there will be as many people filing for bankruptcy as those filing for a divorce.  We are on track to seeing an average of nearly 5,900 bankruptcy filings a day for 2009.  While some people use the stock market as their barometer of economic recovery, there are […]

Nov 1 2009

Plan C as in Commercial Real Estate – FDIC: 115 Bank Failures in 2009. Total Assets of FDIC Insured Banks $13.3 Trillion. $3 Trillion Backed by Shaky Commercial Real Estate.

It is one thing when a few analysts say that commercial real estate, that $3 trillion elephant in the room, is going to experience trouble starting next year.  It is another thing when billionaire investor Wilbur Ross comes out and states that commercial real estate is going to crash and burn.  We’ve been looking at […]

Oct 29 2009

How 56.5 Million Households Live: $52,000 Median Household Income in 2009 Crushed by a Decade of Debt. A Decade of Lost Wages and Financial Debt Servitude.

The recent American Consumer Survey had some thought provoking data regarding the typical American household.  Wages over the past decade have been stagnant.  At least that is what is propagated in the common datasets but in reality, not only has income not grown it has actually declined.  The U.S. dollar during this time has been […]

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