Wealth inequality rivals the months prior to the Great Depression – Americans would prefer a more evenly distributed wealth system. Over 80 percent of Americans still feel we are in a recession.
The official announcement that the recession is over underscores the massive disconnect between Wall Street and the rest of America. Wealth inequality in America is at levels last seen right before the Great Depression ravaged our economy. Yet the inequality has grown even more intense as this crisis has gone forward. 43 million Americans are […]
The big banking sham and how the recession is over for the top 1 percent – Top 1 percent of banks control 80 percent of banking assets while household net worth is down $12.3 trillion from the peak.
The headlines read that the recession is over. In fact, the recession has been deemed over since June of 2009 by the National Bureau of Economic and Research (NBER). Yet the fact of the matter is working and middle class Americans are solidly in a deep recession. There was a town hall that was televised […]
U.S. home prices will resume price decline after year of banking and government intermission. Multiple signs point to another year of slow home price growth and U.S. home values over priced by 20 percent.
Home sales follow very seasonal patterns. Yet much of this natural mechanism was stunted by banks delaying foreclosures and the government artificially stimulating home sales. Now that much of the stimulus has been exhausted, it is clear that home prices are correcting once again. It is hard for many to imagine that home prices can […]
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 […]