In Case You Forgot: Many In Middle Class Living On Edge Of Knife

Time magazine is reporting on a new study that finds that many of your neighbors are slogging through the same garbage that you are, living hand to mouth. You probably already knew that, or at least suspected it. Well, now you can believe it. Nearly Half of America Lives Paycheck-to-Paycheck The economic picture is looking brighter these days. The federal government announced Thursday that economic growth had picked up to its fastest pace in two years, while employment growth over the past five Read more […]

Less Affordable Housing In 20 Cities In 2014 Is Not Good Economic News

Apparently the essence of financial wisdom in the Western World is to learn nothing from the housing boom and bust leading into the 2008 recession. All anyone can do is simply hope for the government to somehow take us back in time to 2006. Many of us who own homes are, of course, wishing we could think of these homes as an asset rather than a liability. I sympathize. I’m in that group with many other. But the entire way of life is toxic and we need to wish it dead, even if it is going to mean Read more […]

The Housing Implosion: Here It Comes?

From Money News under the headline: “New Wave of US Mortgage Trouble Threatens Banks. U.S. borrowers are increasingly missing payments on home equity lines of credit they took out during the housing bubble, a trend that could deal another blow to the country’s biggest banks. The loans are a problem now because an increasing number are hitting their 10-year anniversary, at which point borrowers usually must start paying down the principal on the loans as well as the interest they had been paying Read more […]

Obama Nominee To Aid In Next Housing Collapse

President Barack Obama has nominated Rep. Mel Watt to be Director of the Federal Housing Finance Agency.  If his appointment is upheld, Watt may well lead America into another housing collapse. Watt is the Democratic Representative from the 12th district of North Carolina.  He has been in Congress now for 20 years and is well versed in the Democrat’s Washington political ways.  Besides being a member of the Congressional Black Caucus, he is also a member of the Congressional Progressive [socialist] Read more […]