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That means a total of 10.2 million men aged 25-54 – or one out of every 6 men in his prime working years – are not holding jobs in the U.S. economy today
The economy grew at an annual rate of 4.6% between January and March, below analysts' forecasts and the same pace as the previous quarter.
For the full 2013-14 financial year, growth was 4.7%, the second straight year of sub-5% expansion.
The 4.4 percent annual decrease in retail sales was more than the median estimate for a 3.3 percent decline, and marked the biggest drop since a devastating earthquake and tsunami in March 2011.
Eurozone recovery takes a knock as economy grows just 0.2% in last quarter, with many countries disappointing
Last year, about 1 in 7 people in the U.S. received food stamps, or SNAP benefits, as they're called. That's almost 48 million people, a record high.
Still, Rosenbaum says only 79 percent of those eligible for food stamps receive them.
The rich get richer, or so they say. It’s the rich who have the cash for a down payment and the good credit to qualify for a mortgage, so the one segment of the housing market seeing the most activity is the top 1%. For everyone else, the housing recovery is something they only read about in the financial media, but it doesn’t really impact them.
With the current political and financial regime in place, the 1% benefit the most. Federal reserve policy provides cheap debt to inflate asset values, and since the 1% owns most of these assets, they benefit the most from these policies. Tax rates are low by historic standards, and with capital gains taxes at 20%, the rich escape the more onerous income taxes when they sell their profitable assets and move money into real estate. Unless we elect a true populist president and Congress that favors the middle class and the poor over the rich, the 1% will continue to do well, and so will their real estate markets.
Home sales are up for the top 1%, the bottom 99%, not so much
Since average wage earners are effectively frozen out of the market, that leaves current homeowners who are selling and "moving up". Oops: 20% of all homeowners are effectively underwater and cannot sell/buy another home.
the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year.
Given the lag in commodity costs impacting prices on grocery store shelves, annual U.S. food inflation is now running at +22% and rising.
originally posted by: SubTruth
a reply to: AnIntellectualRedneck
I also wanted to add the unemployment extension that never passed. This is huge people 3.5 million and counting starving and losing everything. This could very well be a tipping point in itself. Every week more and more people lose the little bit of money they need to survive.
This money goes right back into the economy and without it millions of families are on the verge. I am surprised the mainstream media is not looking at this it could very well crash the entire darn system. If the president was a smart man he would champion this cause..........Oh well.