Nov 5 2009
If Incomes are Down, Where is the Economic Spending coming from? Industrial Production Still Lower, Credit Contraction, and Average Work Week at Record Low. Wells Fargo Considering Converting Option ARMs to Interest Only Loans.
With 8 million jobs lost in this great recession, it is rather surprising to see so many people enter into a deep capture mode of believing in a quick and efficient recovery. If we look at data in the misery index, the average American has a hard time swallowing the jagged economic recovery pill. They [...]
Oct 10 2009
The Disappearing Middle Class Dream – How the Average American is coping with the Recession: Savings, Banking, Housing, and Investing. Over 50 Million Households Living on $52,000 or less a year.
Last month the American Community Survey detailed the painful 2008 year for American households. This is a comprehensive survey looking at multiple financial, economic, and social characteristics of Americans. What we find is that the average American is having a tougher time maintaining a hold on the middle class dream. This isn’t a revelation but [...]
