Un-preparing the future with the higher education bubble – graduating students with more debt and with degrees that have little demand in the marketplace. For-profits now account for nearly 10 percent of all undergraduate enrollment when in 1997-98 they accounted for 3 percent.
The higher education bubble only continues to spiral out of control because the profits are so good for the massive banking industry that is pushing student loan debt to the trillion dollar level. At the same time the return on investment in education has been slowly diluted as more for-profit degrees enter the market place […]
The punishment of the American saver – JP Morgan Chase CEO makes 843 times the median household income and pays his Chase customers 0.01 percent on their savings.
The current financial system is designed to punish old school savers. By definition in our debt based economy those who save are actually taking fuel out of the consumption based economy. Spendthrifts are the high octane that keeps things spinning even if it comes with a high debt price tag. You see this occurring in […]
A new gilded age shines on America – 50 million Americans roam the countryside uninsured. 45 million Americans receiving food stamps up by 18 million since the Great Recession began in late 2007.
Much of the country is in psychological denial to the damage being created by the current recession. Some even believe that we are fully in a recovery. Part of this has to do with the way the safety net is designed but also the lack of coverage presented in the media. We have over 45,000,000 […]
While D.C. and Wall Street burns the middle class flails – top 10 percent control 98 percent of all financial security wealth. For stocks and mutual funds bottom 90 percent controls only 19 percent of total assets.
Part of the unfortunate theatre being played out in the political arena is that little focus and energy is being placed on the issues plaguing the middle class. The interests of the big financial banks continue to dominate what politicians will discuss and the media seems content at rehashing the argument over and over like […]