Oct 3 2010

The status of the working and middle class American worker for fall 2010 – 42 percent of unemployed persons had been jobless for 27 weeks or more. Young workers have the highest unemployment rate on record at 19.1 percent.

There can be no sustained recovery without putting Americans back to work.  We live in an odd time where GDP can be going up while middle class America is slowly dismantled.  Let us be clear that the employment situation hasn’t improved.  The recent job gains are largely part of the Census hiring that is now […]

Sep 29 2010

Plundering the middle class – 35 percent of American households live on $35,000 or less each year. Bailouts a success for the wealthiest 5 percent of Americans.

The middle class is being slowly dismantled piece by piece.  New Census data released this week highlights a continuing trend that is pushing more average Americans into a perpetual struggle to stay financially afloat.  New data shows that the median household income is $50,221 in 2009 which is down from $52,029 in 2008.  This drop […]

Sep 22 2010

The big banking sham and how the recession is over for the top 1 percent – Top 1 percent of banks control 80 percent of banking assets while household net worth is down $12.3 trillion from the peak.

The headlines read that the recession is over.  In fact, the recession has been deemed over since June of 2009 by the National Bureau of Economic and Research (NBER).  Yet the fact of the matter is working and middle class Americans are solidly in a deep recession.  There was a town hall that was televised […]

Sep 17 2010

Falling off the American Dream treadmill – Real median U.S. household income falls under $50,000. Poverty rate has grown exponentially since 2000, during the housing bubble.

The U.S. Census Bureau recently released troubling data on the status of American families.  The first disturbing point was that 43.6 million Americans now fall under the poverty category.  This works out to 1 out of 7 Americans.  The growth has come from many people falling off the middle class treadmill.  While the echoes of […]

Sep 14 2010

The persistent and sticky unemployment of the American worker – To get back to 5 percent unemployment we would need to add 285,000 jobs per month for 5 consecutive years.

The biggest problem facing many working and middle class families is the structural changes in our employment base.  By this point in any “recovery” the private sector would be adding a tremendous amount of jobs.  Yet there really is very little recovery for the typical American.  The stock market is performing “well” for the moment […]

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