Middle class shackled by banking debt chains. 113 million households each owe an average of $113,000 in banking debt for mortgages, student loans, credit cards, and auto loans. $45 trillion in household sector debt, government debt, and domestic financial sector debt.
The middle class has been systematically shackled by large amounts of debt, banking debt to be exact in a new form of financial serfdom. Much of this started in the early 1970s on par with the deficits don’t matter policy that engulfed our monetary policy for the next four decades. Like any giant structure built […]
Taxes coming for $1 trillion in commercial real estate. 1.2 million partnerships own over $1 trillion in CRE. Too big to fail dumping CRE debt.
The problems for commercial real estate are deep and significant and have the potential of stifling any sort of recovery. Rather than looking at commercial real estate (CRE) as a reason for more stimulus or bailouts the question should examine why so many CRE locations are defaulting. Can this be a sign that demand for […]
FDIC flashes code red – Banking system insolvent and expecting more bank failures. Since 2008 247 banks with $616 billion in assets have failed. History of Federal Reserve designed to protect the big banks.
The FDIC which technically supports the nation’s banking system is for all practical purposes insolvent. I’m not sure the magnitude of this problem has sunk into the psyche of the American public. The FDIC insures accounts at banks that include checking, saving, and CD accounts from a bank failure. This has occurred with regular frequency […]
Bankruptcy filings reflect a weak economy – 9 percent jump in bankruptcy filing in last month of data. Bankruptcy map shows Nevada and South have highest filing rates per capita. $79,000 income and $11 million in debt?
Bankruptcies are still plaguing this country and show deeper strain in the fabric of the economy. Average Americans are still very much dealing with the challenges of a deep and profound recession. Filing for bankruptcy is usually the end of the financial line for many Americans. Yet in the last month of data for March […]