Middle class shuffle – how the banking system has given the illusion of prosperity with debt serfdom to working and middle class Americans. $14 billion in consumer credit yanked from the system last month.
A cold bucket of water was thrown on many middle class Americans when the consumer credit figures for May were released. Analysts were expecting an increase of $1 billion but instead over $14 billion in consumer credit was yanked from the system. You would think that a growing and healthy economy would require more credit [...]
401k retirement account an antiquated investment vehicle? As economy stalls companies stop matching 401k contributions.
Many Americans are questioning the idea of a 401k. As many baby boomer near retirement, their 401k is largely seen as their primary retirement account yet with current stock market fluctuations, many are wondering if staying with a 401k is smart. Many Americans have already seen the gyrations with housing values and don’t want this [...]
Stock market plunge erased 9 months of a rally in a few minutes. On the same day too big to fail amendment shot down by Senate.
It is amazing what occurred yesterday. The media gave such a historical event little play. In the matter of a few minutes the Dow plunged nearly 1,000 points erasing 9 months of stock gains ($500 billion in U.S. stock market wealth). Stocks around the world also sold off on the event since many were left [...]