Dec 27 2010

Retirement account fantasy and middle class erosion – 1 out of 3 Americans has zero dollars in a retirement account. From 1950 to 1989 top 1 percent earned roughly 7 to 8 percent of nationwide income. Today it is inching closer to 20 percent resembling pre-Great Depression levels.

Many Americans live precariously close to the edge of financial insolvency flirting with economic disaster daily.  If you casually browse mainstream articles and watch any amount of television you would think that the US still had a vibrant and strong middle class.  When we pull back the covers on the current financial situation we realize […]

Sep 25 2010

Wealth inequality rivals the months prior to the Great Depression – Americans would prefer a more evenly distributed wealth system. Over 80 percent of Americans still feel we are in a recession.

The official announcement that the recession is over underscores the massive disconnect between Wall Street and the rest of America.  Wealth inequality in America is at levels last seen right before the Great Depression ravaged our economy.  Yet the inequality has grown even more intense as this crisis has gone forward.  43 million Americans are […]

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, […]

Jun 29 2010

Stock market volatility reflects a weak economy and the end of a generational bull market. S&P 500 back to 1998 levels. Middle class thrown to the wolves in this stock market.

The economic crisis has ushered in the end of a generation long bull market.  Most average investors ignore the fact that heavy market volatility is a sign of an unhealthy stock market.  The stock market since the lows reached in 2009 has been on an unstoppable bull run.  Yet the real economy where most Americans […]

Jun 14 2010

Fooled by financial randomness – Number of millionaires back to late 1990s levels and the end of a 30 year bull market. Real estate and stock market speculators luck out but want to believe in Wall Street religion.

It is hard to convince a generation of Americans built on the “greed is good” motto that we have just lived through a once in a lifetime bull market in stocks and real estate.  I’m reminded of Michael Lewis and his semi-autobiographical book Liar’s Poker printed in 1990 that was to serve as a warning […]

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