The 35 year drought in real wages for American workers: American workers really haven’t had a raise since 1979.
Economic recoveries take on a variety of shape and sizes. With stock markets reaching new highs you would expect that some of the fruits of this boom would trickle down to American workers. But some of the booming trends are continuing on the path of low wage labor and certainly, of turning people into contract […]
Subprime lending at highest level since financial crisis hit: The three leading subprime categories are auto loans, credit cards, and student debt. $189 billion in subprime loans made in 2014.
The euphoria is bleeding into every corner of our debt driven economy. Access to credit is being given to consumers but unfortunately, the loans are tied to items that are counter to becoming financially healthy. More to the point, subprime loans have reached levels that were last seen only during the financial crisis. As fewer […]
The revival of the American debt machine: auto loans, student debt, and credit card debt surge in latest report. Total non-housing debt now at $3.15 trillion.
Last week while going through mountains of credit cards offers, it felt as if we were in 2005 and 2006. Even last year, the cold calls started and it seemed like the debt machine was back and alive. This is helpful news for consumers given that half of Americans are living paycheck to paycheck. Now […]
A demographic tsunami looms: By 2020 we will have 20 percent of our population 65 and older. Half of elderly Americans would be in financial ruin if it weren’t for Social Security.
Kicking the can down the road has a nice appeal. It is the same allure that comes from procrastinating. Putting off the dirty work for another day. This seems to be the approach we have taken for deficit spending. So it is no surprise that older Americans have followed in the same footsteps and many […]