40 years of housing data – U.S. homes still too expensive for typical families. In 1970 the median home could be purchased with 657 ounces of gold. Today, it only requires 155 ounces. The erosion of the U.S. dollar
The last 40 years have seen the U.S. housing market transform into a market largely driven by incredible amounts of debt. The credit card companies understood the basic notion that the monthly payment drove most financial decisions. Even though people purchase a home with a 30 year mortgage, the implicit understanding was that in a […]
FDIC flashes SOS – 1,000 bank failures before recession is over – FDIC not too far away from tapping into U.S. Treasury $500 billion taxpayer lifeline. Georgia leads the pack with 40 bank failures since 2008.
By the end of the recession, there will be approximately 1,000 bank failures. Does this sound extreme? It should but the numbers don’t cover the entire story. Since 2008 the number of bank failures has reached 269 and this doesn’t include consolidations done through the FDIC where bigger banks ate up smaller banks before they […]
Broken financial generations – U.S. households only have a median of $2,000 saved in retirement accounts. The median net worth for those 25 to 34 is $3,700. Which generation will support the economy going forward? Social Security beneficiaries make up 19 percent of all Americans.
I recently had a conversation with a retired neighbor, a former Navy vet who worked most of his life at a local grocery store. I wouldn’t call him wealthy but he has his financial house in order; he paid off his home in the early 1990s, has no other debts, and lives well below his […]
Middle class financially squeezed by the plutocracy – 13 million people added to food assistance from 2007 to 2010. Nearly 40 percent of all unemployed have been out of work for 27 weeks or more.
The mainstream press and their lack of focus or even caring about a shrinking middle class is disturbing. Yet this shouldn’t be a surprise given that their focus of appeasing their sponsors is directly focused at keeping people stuck in a debt induced sleepwalking financial nightmare. Wall Street has successfully infiltrated our government and most […]