The grand financial shift: Rich own assets while poor and working class deep in debt. 70 percent of wealth for the bottom 80 percent locked up in principal residence.
A core reason for the financial crisis was because too much debt was given to those with very little ability to pay it back. Â From the wealthiest banks to those scrimping by on minimum wage. Â The irony of this is that many for-profit colleges for example use government aid to finance the education of those […]
Debt serfdom via student loans: A new class of indentured servants now carry the $1.1 trillion student loan bubble and cracks are already plaguing the system.
$1.1 trillion. That is the amount of student debt being carried on the backs of millions of Americans. Student debt has become a rite of passage for many young Americans. In fact, many Americans establish their first credit line with student debt as they enter college. The crisis is large and has a direct connection […]
How the stock market is a sham for the working and middle class. 53 percent of Americans have no money in the stock market, including retirement accounts. 62 percent of all US wealth owned by top 5 percent.
The growing wealth divide in this country is devouring every piece of the middle class that is currently left. The stock market is largely a sham for most Americans. Why? Many hedge funds and other large Wall Street firms are in the business of making quick profits even if it means destabilizing the underlying economy. […]
A road to unsustainable debt: CBO reports that US is on unsustainable budget course as spending exceeds revenues.
A recent CBO report came out with a rather sobering outlook of our governmental spending habits. The word “unsustainable†is probably not something you want uttered in a report about meeting a budget. Yet that has been our recent trajectory when it comes to spending. The massive financial crisis and subsequent bailouts have resulted in […]