Globalization is good for you..
To make ends meet, many American families are going into even more debt and more American families than ever are turning to government assistance. Right now, more Americans than at any other point since World War II are flat broke and have lost hope. Until this changes, the frustration level in this country is going to continue to grow.
Read more: http://www.businessinsider.com/american-families-are-broke-2011-7##ixzz1TfyWM4CZ
A major bear on the housing market, Amherst Securities' Laurie Goodman has predicted since 2009 another housing crash as banks are forced to liquidate tons of bad loans.
Up to 11 million mortgages are likely to default, according to Goodman. This is a frightening figure, seeing as only several million have been liquidated since the crisis began. When it happens, the market will be flooded with supply.
Goodman reached 11 million by projecting default rates for non-performing loans, re-performing loans, and underwater loans. Here's a slide from a recent presentation
Read more: http://www.businessinsider.com/laurie-goodman-11-million-mortgages-2011-7#ixzz1TfxF6AZG
widest wealth gap between US whites, minorities
The wealth gaps between whites and minorities have grown to their widest levels since the U.S. government began tabulating them a quarter-century ago. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.
http://www.taiwannews.com.tw/etn/news_content.php?id=1663005
Vaporizing Middleclass
http://intheendwerealldebt.blogspot.com/2011/07/vaporizing-middleclass.html
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