WHERE WE ARE

via @OccupyWisdom :

1/ OIL

When the economy is doing well, there is a large demand for oil, and oil prices rise. The collapse in oil prices shows we are entering a global slow down.

2/ HOUSING

Only 13% of Americans plan to buy homes next year. This is -50% less than a year ago.

Single family home inventory up 86%

Condo inventory up 188%

Homebuilders and lumber in bear markets

3/ RETAIL

Retailers (particularly malls) are walking away from leases even before they are up (Sears) There will be many defaults. Investors in mortgage bonds and mortgage backed securities are going to be on the hook again.

 

4/ MIDDLE CLASS

A new study suggests 6/10 US Jobs do not pay enough to support a middle class lifestyle

A recent survey suggests 6/10 US citizens do not have even $1,000 in savings

51.7% children in the US live in homes receiving Federal Government Assistance

 

5/ STOCKS

Almost every major index is in, or will be in a bear market shortly.

 

 

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