The day the credit markets awake from a slumber – $1 trillion in consumer debt currently delinquent. Student debt continues to grow adding fuel to the higher education bubble.
With much of the attention being diverted to the cascading financial crisis in Europe something was missed in the United States. The incredibly important quarterly consumer credit report released by the Federal Reserve highlighted some disturbing trends. The first overall point is that the American consumer continues to deleverage. Yet with a system built on […]
The chicanery between the Fed and ECB – twin balance sheets near peak levels and many European nations back in recession. Methods of understating US unemployment rates.
The Fed and ECB (European Central Bank) have taken notes from the exact playbook in dealing with the global financial crisis. People tend to believe that these are somehow fully set government agencies but in reality, they are designed to protect their number one constituency group. The Fed and ECB have the primary mission of […]
Middle class dysphoria – What does the new American Dream look like? Inflated college tuition, lower home ownership rates, and compressed wages.
The American Dream was always tied to economic prosperity. The ability to work and save for a respectable retirement seemed cornerstones to this vision of middle class success. The idea that future generations would have it better seemed to also be part of this vision of economic prosperity. The last two decades have seen a […]
How does an America with no middle class look like? Bureau of Labor and Statistics projects top two jobs for the next decade will pay roughly $20,000 a year. Approval rating of Congress at 10 percent. In comparison, Americans approved of BP’s handling of the Gulf oil crisis at a 16 percent rate.
A strong middle class has been at the core of what has been promoted as the American Dream. How would America look like if the middle class simply vanished? We may not need to wait too long at the current rate since we are quickly siphoning people off the middle class and throwing them into […]