Housing’s Treacherous Path: From 44 Percent Homeownership to 70 Percent. The Levittown Dream and Nothing Down Madness. How a Nation lost its way with Homeownership.
It is a fascinating case study in the perceived power of homeownership that even after our economy was brought to its economic knees by a massive housing bubble that the government, Wall Street, home buyers, and sellers somehow view homeownership as our ticket to getting out of the financial mess. That is, the housing poison [...]
Economic Backward System: Better News for Employment if you work in the Financial Sector and U.S. Dollar Means Bad News for Wall Street. Financial Sector adds 86,000 workers while Manufacturing Slashes another 41,000.
The drop in the unemployment rate I’m sure is taken as good news by any American. No one wants to see their neighbors, family members, or fellow citizens lose their jobs. Yet seeing that the unemployment rate dropped to 10 percent and the U-6 rate came down to 17.3 percent, it is important to see [...]
FDIC too broke to Takeover Banks? No Bank Failure Friday on Black Friday. Can 5,300 Employees Deal with $5.3 Trillion in Deposits?
The Federal Deposit Insurance Corporation (FDIC) was hammered this week when a third quarter report demonstrated that the FDIC was running in the red to the sum of $8.2 billion. This is troubling since the FDIC protects deposits in member banks up to $250,000 and funds covered by the deposit insurance fund (DIF) are over [...]