Middle class dysphoria – What does the new American Dream look like? Inflated college tuition, lower home ownership rates, and compressed wages.
The American Dream was always tied to economic prosperity. The ability to work and save for a respectable retirement seemed cornerstones to this vision of middle class success. The idea that future generations would have it better seemed to also be part of this vision of economic prosperity. The last two decades have seen a […]
The cascading waves of debt implosion – 5 charts looking at debt leverage, velocity of money, and contagion impacts from the European crisis.
If you inject money out of thin air into the banking sector but no quality jobs emerge, is the result a success? The bailout mission statement revolved around keeping credit available for the American public. The absolute opposite has occurred. A massive internal credit deleveraging has been taking place but the banks have simply hoarded […]
The big swindle and a fog of debt – hiding the unemployed in the higher education bubble and three years of economic recovery equates to 11.5 million more Americans on food stamps.
A large part of our recovery is running on public relations trickery and smoke and mirrors debt machinery. Let me explain what I mean by this since on the surface we have been out of a recession since the summer of 2009. Government debt is soaring and public debt in certain sectors is flying off […]
The long debt emergency has arrived – From 1950 to 1980 total US credit market debt to GDP held a ratio of 1.5. Today that figure is above 3.5 with total US credit market debt at $54 trillion.
We are reaching a point of no return with global debt. The US will be running deficits for as far as the indebted eye can see. This isn’t a new or novel trend but the magnitude certainly is. Since we stepped on the deficits do not matter accelerator in the 1980s the US dollar has […]