Lot’s of interesting/scary stuff lately:
- 16% (12M) of US homeowners owe more on their mortgage than their home is worth.
- The S&P 500 has lost nearly 50% of it’s inflation adjusted value from it’s peak. Has only happened twice in history, 1929 and the mid 70’s.
- The Federal Reserve is lending money directly to businesses, via purchases of short term commercial paper, for the first time since the Great Depression.
- Banks are canceling in progress student loan programs
- US Pension Plans have lost nearly $2T (trillion). Most people from my generation would ask the same question…what the hell is a Pension Plan?
- The US national debt is now over $10T. If you include unfunded social security, medicaire, medicaid and other social obligations it is almost $50T.
Happy Tuesday ! I think I’ll go watch the Presidential candidate debate – I’m sure that will cheer me up.
Posted by strodeunplugged 
Posted by strodeunplugged 
Posted by strodeunplugged 
