Loading ...
Sorry, an error occurred while loading the content.

We are all in trouble

Expand Messages
  • Sheldon Waxman
    Problem with price inflation (although there is only one inflation--too much money) is that wage inflation does not come about for years after price
    Message 1 of 1 , Sep 14, 2012
    • 0 Attachment
      Problem with "price" inflation (although there is only one inflation--too much money) is that "wage" inflation does not come about for years after price inflation. So we are going to be drastically squeezed.
       
       
      Report: US incomes fall to 1989 levels
      Source: Christian Science Monitor

      "The typical US household saw its income fall last year to 1989 levels. That news, contained in a US Census Bureau survey released Wednesday, points to difficult questions of how the US can get back on a track of job growth and rising prosperity. Median incomes fell 1.5 percent in 2011, while the official poverty rate remained essentially unchanged at 15 percent." (09/12/12)

       

      US households not using banks on the rise
      Source: Atlanta Journal-Constitution
       
      "More than one in four U.S. households are either underbanked or unbanked, the Federal Deposit Insurance Corporation said. Since 2009, when the FDIC did its initial survey on the subject, 821,000 more households have become unbanked, a 0.6 percent increase More than one-half of those households that are unbanked said they don't have a bank account because they think they don't have enough money or they don't want an account. The study also shows that three in 10 households in the U.S. don't have a savings account." (09/13/12)
    Your message has been successfully submitted and would be delivered to recipients shortly.