The world didn’t completely fall apart in 2015, but it is undeniable that an immense amount of damage was done to the U.S. economy. So don’t be fooled by all the happy talk coming from Barack Obama and the mainstream media. When you look at the cold, hard numbers, they tell a completely different story. The following are 58 facts about the U.S. economy from 2015 that are almost too crazy to believe...
Sure, the stock market had a great October with the Dow Jones Industrial Average jumping by 8.5%, but the disconnect between Wall Street and Main Street is too stark to ignore, and the Federal Reserve is about to pop the easy-money financial bubble.
"Eternal happiness can wait. Millennials are much less likely to be married than their parents were at their age, and marriage often serves as an impetus to move out."
Why is the deal particularly notable? Because Zell has traditionally had a very keen nose about such things as "market peaks": the 74 years old is credited with calling the top of the real-estate market in 2007, when he sold another of his companies, Equity Office Properties Trust, to Blackstone for $23 billion. Soon after, the commercial-property market crashed as prices fell and debt defaults surged when it became apparent that subprime was not contained.
The Mystery Of The "Missing Inflation" Solved, And Why The US Housing Crisis Is About To Get Much WorseSubmitted by Tyler Durden on 09/21/2015 22:32 -0500
Forget about a housing recovery: for the vast majority of Americans, the housing crisis is about to get worse. Much worse.
"What happens in any bull asset bubble such as what we've seen is you run out of buyers. It's hard to get deals done if the bottom third can't get a mortgage."
The biggest surprise in today's NAR release came from the following Larry Yun statement: "Uncertainty in the equity markets — even if the Fed raises short-term rates in September — could stabilize long-term mortgage rates and preserve affordability for buyers." So with China, Larry Summer and the IMF now calling for a rate hike, the NAR - of all entities - is suddenly quite happy to see the recent market rout continue, which would keep rates lower and promote "affordability." Guess nobody tell Larry that China has now started dumping bonds.
How bad is America's $1.3 trillion student loan problem, you ask? As WSJ reports, "nearly seven million Americans have gone at least a year without making a payment on their federal student loans, a staggering level of default that highlights how student debt continues to burden households despite an improving labor market."
“Over the past five years, our businesses have created more than 11 million new jobs. Our economy is growing and creating jobs at the fastest pace since 1999.” - President Obama
Despite those feel-good headlines, the average American is far, far from solid financial footing.
Characterizing the upward transfer of virtually all American wealth to a handful of oligarchs a “recovery,” represents a grotesque insult to the english language as well as common sense. The writing was on the wall from the very beginning. We knew as soon as TARP passed that we as society would regret the day we bailed out the bankers who destroyed the world economy. It didn’t take long.
US Middle Class Stays Dead: Homeownership Drops To 48 Year Low; Median Asking Rent Soars To All Time HighSubmitted by Tyler Durden on 07/28/2015 10:17 -0500
Earlier today, the US Census released its latest homeownership data, which confirmed that for what is left of America's middle class, owning a home has become virtually impossible, with the homeownership rate plunging from the lowest level since 1986, or 63.7%, to just 63.4% the lowest reading since the first quarter of 1967. And the punchline, which should come as no surprise to anyone: with housing no longer affordable to most, the median monthly asking rent just rose to a record $803 across the US.
When we discuss an "economic collapse," most people think of a collapse of the financial markets; and without a doubt, one is coming very shortly. But let us not neglect the long-term economic collapse that is already happening all around us. If you stand back and take a broader view of things, what has been happening to the U.S. economy truly is quite shocking. The following are 12 ways that the U.S. economy is already in worse shape than it was during the depths of the last recession...
"Racial and ethnic minorities now surpass non-Hispanic whites as the largest group of American children under 5 years old, the Census Bureau said Thursday. The demographic rise of minorities comes at a time when heightened racial tensions make headlines from St. Louis to Charleston, South Carolina, and as minorities lag in education, earnings and labor market outcomes."