Economy Losing 11,000 Jobs per day since December of 2007. 824,000 Jobs Lost in Statistical Revision: 8 Million Jobs Lost Since Start of Recession. Nationwide Unemployment Rate at 17 Percent.
Since the start of this deep recession back in December of 2007 some 7.2 million jobs have been lost in the official BLS reports. The official non-farm employment has dropped from 138 million to 130 million. Think of it this way, for 21 months we have lost on average over 11,000 jobs per day. As […]
FDIC Insured Institutions have $13.3 Trillion in Assets. 8,195 Banks and 116 Institutions Hold $10.2 Trillion of Those Assets. One out of Four Institutions Unprofitable. 1,000 Banks Will Fail or Merge.
The banking system has taken the country to the financial edge of the greatest recession since the depression. The enormous number of bad loans floating out in the economy only complicates the unemployment situation. When we look into the latest banking data, we realize that over 1,000 of current banks will fail or merge with […]
Going Broke on $50,000: The Story of the Struggling American Middle Class. The $50,000 Median Household Budget.
The recent recession is exposing how many American families have been treading on the edge. Problems were already in the system before the recession began but the downturn in the economy was the ultimate catalyst. Many families were using credit cards as a means of supplementing a decade of stagnant wages. The median household income […]
Demand Destruction Price Deflation: Earnings up when you Fire Employees. California Lowering Tax Brackets. Social Security no Cost of Living Adjustments.
The Consumer Price Index has shown a year over year decline for the first time since the 1950s. This in itself has added fuel to the growing flame of the menace of deflation. Yet what we are seeing in the psychical world in the form of price declines is directly linked to demand destruction and […]