The Unemployment and Jobless Recovery Myth – California Average Underemployment Rate for 2009 at 21 Percent. The Middle Class Destruction through Unemployment Corporate Jargon.
It is amazing how many financial analysts usually from the too big to fail banks have gone onto the media circuit to claim that employment is always a lagging indicator in economic recoveries. They preach this belief as if it were a law like thermodynamics. These same people who never envisioned a stock market collapse rivaling the Great Depression now want the public to believe their flawed doctrine of economic prosperity. Yet the question is prosperity for who? How are we supposed to trust an industry filled of self-labeled experts that missed the biggest financial crisis in modern times? This is like a pharmacist who doesn’t know what drug to give you or a baseball player who can’t swing a bat. We can’t trust Wall Street for a variety of reasons including they are part of the nucleus for this economic calamity.
Game Over for the American Middle Class – Inflation Adjusted Wages up 20 Percent in Last 20 Years While Housing Costs are up 56 Percent and Healthcare Costs are up 155 Percent.
The struggle for average Americans to keep up is largely becoming an act of will power and force in this current grand recession. Now you wouldn’t think that there is a definite war raging against the middle class if you simply follow the mainstream media but the facts speak to a more distilled and corporatized method of debt slavery. Americans are working more hours trying to stay in the same place that they believe would keep them on pace to having the American Dream. And this dream is merely the ability to afford a home, provide your children with a good education (public or private), and save enough to have a retirement that doesn’t require you to eat cat food after a lifetime of working. That is at the root of what most average Americans would want after a full working career.
Commercial Real Estate and Tishman and Blackrock Walking Away from a $4.4 Billion CRE Deal. How to Lose 66 Percent on an 11,000 Unit Property. Why Walking Away from CRE is no different from Walking Away from Residential Real Estate.
It is becoming more of a preferred strategy to systematically walk away from commercial real estate debt. We have now had two large Wall Street organizations in Morgan Stanley and Tishman and Blackrock Inc. deciding, by voluntary choice, to walk away from their contractual obligations on commercial real estate. Now much has been made regarding the commercial real estate debacle because some $3.5 trillion in commercial real estate debt is outstanding. This number is enormous and many of the bank failures that we’ll be seeing on Fridays this year will come from bad loans in the commercial sector.
The Rise of the Cashier and Retail Salesperson Economy – Employment and the Evolving Job Market of the United States – 8 Million Jobs Lost in this Recession but Deeper Financial Changes are Coming.
The recession that started in December of 2007 is still causing jobs losses even after 25 long and agonizing months. Most Americans still feel that the economy is deep in the midst of a serious correction. Since the recession started non-farm employment has shrunk from 138.152 million to 130.91 million. Officially over 7.2 million jobs have been lost but a coming revision next month will show that 8 million people have fallen off the non-farm payroll figure. Many are trying to figure out how the bailout of Wall Street and the banking sector has improved the underlying system holding up the economy. Recent political movements show that Americans are still not satisfied with how the economy is being handled. One thing not being covered by the media is that anger among the population is coming from the poor state of the economy. Other factors are important but the economy is the number one topic on the minds of most Americans.