Is the California True Unemployment Rate at 18.47 Percent? The 10.1% Headline Number is the Highest Rate in Over a Quarter Century. 1.8 Million Workers Unemployed in one State. How Many are Partially Employed or Have Given up Looking for Work?
California is a microcosm of the entire United States. The most populous state with a GDP of $1.8 trillion, much of what happens in California does spread throughout the country. California’s employment situation is deteriorating at a breathtaking speed. The latest employment numbers were released after the bell closed on Friday, which now seems to […]
American International Group: AIG Founded in Shanghai China in 1919. Who are we Bailing out Here?
American International Group, AIG was founded in 1919 by Cornelius Starr who established the agency in Shanghai, China. The business took off and was very successful in Asia. Later, Starr expanded the company to Latin America, Europe, and the Middle East. It is fascinating how many in the media are portraying AIG as some homegrown […]
Homeowner Affordability and Stability Plan: California and Florida you are Financially on Your Own.
I was cautious about the details in the new Homeowner Affordability and Stability Plan which was announced on Wednesday. It is going to use $75 billion from the additional $350 billion in TARP funds while accessing the $200 billion in backstops to Fannie Mae and Freddie Mac. Yet one key point, and probably a reason […]
Suburb Cat Thousandaire: How Americans Lost a Decade of Wealth through Debt and Listening to the Banking and Housing Industry.
Not all that glitters is gold. And not everyone touting to be a financial expert should be regarded as such. Americans have lived in what could be considered a decade built on a debt façade. As many Americans strolled their neighborhoods, possibly taking the dog out for a walk, many suddenly would come across a […]