As more Americans save the typical too big to fail banking savings account is paying close to 0 percent in interest. At the same time the average credit card interest rate is over 14 percent.
The one silver lining of this crisis if there is one to be had is that many more Americans are actually saving more money. However the problem that many now face is historically low interest rates through bank savings accounts. Average Americans have few places to go receive a decent return (5% or lower) without […]
Jobs for middle class expansion are long gone – The struggles to create jobs that will create a vibrant middle class have vanished under the foot of banking dominance.
Most Americans realize that having a job is a prerequisite to gaining entrance into the middle class. If you work hard enough, chances are you would have access to some of the things promised to the middle class; access to affordable housing, a good education, and the ability for some sort of retirement. That ideal […]
The great American un-recovery: Banking failures and swindling the wealth from working and middle class Americans. Household assets off by $11 trillion from 2007 peak.
The economic profession and bankers on Wall Street have taken a hit to their credibility with missing the biggest recession since the Great Depression. It is understandable for the average person on the street to miss something as nuanced as a tiny recession but for a group of professionals whose mission statement involves understanding the […]
Middle class in shambles – more debt, more job losses, more deceit. Banks attempt final push to break up the middle class. Housing values down by 30 percent but total household debt only down by 2 percent.
On Friday the grim reality of more job losses for Americans was plastered across headlines. What makes this even more distressing is this is occurring during what is supposed to be a recovery. Yet most Americans realize that there is no recovery outside of Wall Street. If anything, things have gotten progressively worse as foreclosures […]