Federal Government Budget Deficit in October is Three Times the Annual Budget Deficits of the Banana Republic of California.
California has been the poster child of ineffective state government. Bickering politicians, constant spending, and budget deficits that baffle the economic bottom line. But California isn’t alone in this spend more than you earn reality. Last year, California had to patch up $60 billion in budget deficits. A large and historical sum no doubt. Yet […]
Lining up at Midnight at Wal-Mart to buy Food is part of the new Recovery. Banks offering Mattress Interest Rates. The Invisible Recovery Outside of Wall Street.
There seems to be a growing divide in the current U.S. economy. On the one hand, you have the financial sector swimming in their bailout-induced profits like a modern day Scrooge Mcduck. In their circles, it appears as if the recession is over. On the other hand, you have average Americans seeing access to credit […]
The Balance Sheet Recession: $4.2 Trillion Lost in Residential Real Estate Value. Yet Mortgage Debt Down by $140 Billion.
What we are experiencing is a balance sheet recession. The reality of our current economic funk is highlighted by the growing unemployment rate and the diminishing purchasing power of many Americans. What is going to make this economic crisis drag out like a painful Hollywood divorce is the inability to reconcile the past with our […]
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 […]