The Big Change: Massive financial volatility and the occupation of Wall Street – when the middle class breaks protests will hit the financial streets. Poverty in the suburbs and rising food costs.
When the basic costs of living move up there is bound to be shocks deep in the economy. As we mull over the humbling Census data, it is clear that many Americans are struggling in this modern day economy that protects the banks at the cost of the majority. Let us call a spade a […]
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 […]
Low wage capitalism – Newly added jobs are coming from lower paying sectors while productivity increases and profits filter to the top of the economic class. 3,500,000 high-wage jobs lost during recession and only 179,000 have been added so far.
One of the most troubling aspects of this “recovery†is how it is being achieved. We keep hearing about the wonderful Wall Street recovery yet a large portion of this is being created by extracting productivity from workers and stifling wages. Obviously if you scare the working and middle class and give them no job […]
The housing gamble: What if home prices remained stagnant until 2020? 6 charts laying out the argument for stagnant or declining home prices for another 10 years. Peak in dual income households, home prices still inflated relative to incomes, Federal Reserve unable to hold mortgage rates low forever.
What would happen if home prices remain stagnant for another decade? It is hard to imagine that the cornerstone of the American dream would somehow become a bad investment for the next decade. For decades every generation was conditioned into believing that housing was the best investment a family could make. For many it provided […]