Aug 21 2010

Sin City and Nevada suffer brunt of recession – 25 percent underemployment rate for Nevada reflecting depression like stats. Foreclosure data on home that was picked up for $120,000 but had a second mortgage of $1.2 million.

The great recession has touched every state across the United States with a reverse Midas touch.  Every average American has felt this recession to one degree or another.  Yet few states have felt the economic implosion like Nevada.  Here we have a state that highlights the heavy reliance on the housing bubble, conspicuous consumer spending, […]

Aug 14 2010

Jobs for middle class expansion are long gone – The struggles to create jobs that will create a vibrant middle class have vanished under the foot of banking dominance.

Most Americans realize that having a job is a prerequisite to gaining entrance into the middle class.  If you work hard enough, chances are you would have access to some of the things promised to the middle class; access to affordable housing, a good education, and the ability for some sort of retirement.  That ideal […]

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 […]

Jul 14 2010

Sticking it to small business – Small firms charged an average of $3,224 per month of business expenses on credit cards. Yanking the credit card from small business. $40 billion less to small businesses in Q1 of 2010 compared to 2008.

42 million Americans work in firms that have 99 employees or less.  We are often told how vital small business is to the health of our nation’s economy.  Usually this rhetoric is given to us by banks and Wall Street yet recent data shows a very different attitude.  Words ring hollow when it comes to […]

Apr 8 2010

State and Local Budget Crisis Black Swan – California paying out $100 Million per Day in Unemployment Insurance. Detroit’s Shrinking Population Crushes Revenues. The Employment Situation at a Micro Level.

One stunning statistic that hit this week regards California’s unemployment insurance claims being paid out.  California is paying out some $100 million per day in unemployment benefits.  I’m not sure if I would call it a “benefit” but more as a buffer to get by.  In reality if we really want to get a pulse […]

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