hvactec
VIP Member
Foreclosures being down from a year ago, is an artificial statistic. What happened was banks were busted for robo-signing and committing fraud when foreclosing on people. Of course our government is doing little and now banks have a green light to ramp up their foreclosure mills once again. RealtyTrac:
U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork, said James Saccacio, chief executive officer of RealtyTrac. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.
More Chinese Than Americans Can Put Food on Their Table
Here's a prime example of how America has offshore outsourced their economy to other countries. more Americans are going hungry than Chinese:
The number of Americans who lack access to basic necessities like food and health care is now higher than it was at the peak of the Great Recession, a survey released Thursday found. And in a finding that could worsen fears of U.S. decline, the share of Americans struggling to put food on the table is now three times as large as the share of the Chinese population in the same position.
American's Household Income Plummets
A private research group, Sentier, has a new study out showing household income dropped 6.7% but after the so-called recovery.
In the two years after the recession officially ended in June 2009, the median household income continued to plummet, dropping by more than $3,500 to $49,909. That represents a decline of 6.7% in the first two years of the recovery, more than twice the rate of decline experienced during the recession.
2 Million More Unemployed to Stop Receiving Unemployment Benefits
The Wall Street Journal's number of the week shows:
2,153,700: The number of jobless people currently receiving unemployment benefits who will lose them by Feb. 11, 2012 if an extension isnt enacted by Congress by the end of the year.
A Lost Decade for the U.S. Middle Class
It's rare to hear focus on main street in the evening news. This CBS article does a round up of U.S. citizens are suffering facts after it dawned on CBS that their audience is now poor.
Food pantries picked over. Incomes drying up. Shelters bursting with the homeless. Job seekers spilling out the doors of employment centers. College grads moving back in with their parents. The angry and disillusioned filling the streets.
Pan your camera from one coast to the other, from city to suburb to farm and back again, and you'll witness scenes like these. They are the legacy of the Great Recession, the Lesser Depression, or whatever you choose to call it.
read more Saturday Reads Around The Internets - Middle Class Economic Armageddon | The Economic Populist
U.S. foreclosure activity has been mired down since October of last year, when the robo-signing controversy sparked a flurry of investigations into lender foreclosure procedures and paperwork, said James Saccacio, chief executive officer of RealtyTrac. While foreclosure activity in September and the third quarter continued to register well below levels from a year ago, there is evidence that this temporary downward trend is about to change direction, with foreclosure activity slowly beginning to ramp back up.
More Chinese Than Americans Can Put Food on Their Table
Here's a prime example of how America has offshore outsourced their economy to other countries. more Americans are going hungry than Chinese:
The number of Americans who lack access to basic necessities like food and health care is now higher than it was at the peak of the Great Recession, a survey released Thursday found. And in a finding that could worsen fears of U.S. decline, the share of Americans struggling to put food on the table is now three times as large as the share of the Chinese population in the same position.
American's Household Income Plummets
A private research group, Sentier, has a new study out showing household income dropped 6.7% but after the so-called recovery.
In the two years after the recession officially ended in June 2009, the median household income continued to plummet, dropping by more than $3,500 to $49,909. That represents a decline of 6.7% in the first two years of the recovery, more than twice the rate of decline experienced during the recession.
2 Million More Unemployed to Stop Receiving Unemployment Benefits
The Wall Street Journal's number of the week shows:
2,153,700: The number of jobless people currently receiving unemployment benefits who will lose them by Feb. 11, 2012 if an extension isnt enacted by Congress by the end of the year.
A Lost Decade for the U.S. Middle Class
It's rare to hear focus on main street in the evening news. This CBS article does a round up of U.S. citizens are suffering facts after it dawned on CBS that their audience is now poor.
Food pantries picked over. Incomes drying up. Shelters bursting with the homeless. Job seekers spilling out the doors of employment centers. College grads moving back in with their parents. The angry and disillusioned filling the streets.
Pan your camera from one coast to the other, from city to suburb to farm and back again, and you'll witness scenes like these. They are the legacy of the Great Recession, the Lesser Depression, or whatever you choose to call it.
read more Saturday Reads Around The Internets - Middle Class Economic Armageddon | The Economic Populist