Falling off the American Dream treadmill – Real median U.S. household income falls under $50,000. Poverty rate has grown exponentially since 2000, during the housing bubble.
The U.S. Census Bureau recently released troubling data on the status of American families. The first disturbing point was that 43.6 million Americans now fall under the poverty category. This works out to 1 out of 7 Americans. The growth has come from many people falling off the middle class treadmill. While the echoes of […]
The persistent and sticky unemployment of the American worker – To get back to 5 percent unemployment we would need to add 285,000 jobs per month for 5 consecutive years.
The biggest problem facing many working and middle class families is the structural changes in our employment base. By this point in any “recovery†the private sector would be adding a tremendous amount of jobs. Yet there really is very little recovery for the typical American. The stock market is performing “well†for the moment […]
How we lost 1.3 million households from 2008 to 2009. New Census figures show a large decrease in U.S. household count.
Preliminary Census data is now coming out showing the effects of the recession on a macro scale. The 2008 Census figures don’t highlight the deep capital loss that was experienced by middle class families over the last two years. We now have data showing how deep the recession has gotten. From 2008 to 2009 the […]
Sin City and Nevada suffer brunt of recession – 25 percent underemployment rate for Nevada reflecting depression like stats. Foreclosure data on home that was picked up for $120,000 but had a second mortgage of $1.2 million.
The great recession has touched every state across the United States with a reverse Midas touch. Every average American has felt this recession to one degree or another. Yet few states have felt the economic implosion like Nevada. Here we have a state that highlights the heavy reliance on the housing bubble, conspicuous consumer spending, […]