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 […]
American middle class slowly disappearing under mounds of debt – How Wall Street and government sucked working and middle class Americans into perpetual debt serfdom.
People quickly forget about the nearly 1,000 point “flash crash†brought on by glitches in the Wall Street casino machinery. Still no sensible explanation has been given but today the stock market now stands below the flash crash moment. The middle class is witnessing the largest wealth transfer in history take place and it is […]
Current state of the American housing market. What foreclosures and distressed borrowers tell us in hidden data. 2010 on path to having 4 million foreclosure filings. HAMP call center data at record levels while loan modifications dwindle.
Trying to get honest data from the banking industry regarding the current state of housing is a monumental task. We are left using multiple data sources to get an accurate picture of the current state of the American housing market. Even then, we are left trying to piece together data that is largely incomplete. For […]
Fooled by financial randomness – Number of millionaires back to late 1990s levels and the end of a 30 year bull market. Real estate and stock market speculators luck out but want to believe in Wall Street religion.
It is hard to convince a generation of Americans built on the “greed is good†motto that we have just lived through a once in a lifetime bull market in stocks and real estate. I’m reminded of Michael Lewis and his semi-autobiographical book Liar’s Poker printed in 1990 that was to serve as a warning […]