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Author Topic: Misery Index: The Obama Depression - "Private sector doing just Fine"  (Read 61127 times)
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« Reply #1525 on: October 15, 2014, 12:41:11 PM »

http://www.businessinsider.com/reasons-for-oct-15-sell-off-2014-10


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« Reply #1526 on: October 17, 2014, 09:38:00 AM »


Census Bureau: California still has highest U.S. poverty rate



By Dan Walters -
dwalters@sacbee.com
 
 10/16/2014 11:25 AM
  | Updated: 10/16/2014 11:25 AM
 





 
   

 

In this still frame from video provided by the Kasakari For Governor campaign, Neel Kashkari, the Republican candidate for California governor, speaks to the camera during a week he posed as a homeless and unemployed person on the streets of Fresno.       
   

In this still frame from video provided by the Kasakari For Governor campaign, Neel Kashkari, the Republican candidate for California governor, speaks to the camera during a week he posed as a homeless and unemployed person on the streets of Fresno.AP
   

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California continues to have – by far – the nation’s highest level of poverty under an alternative method devised by the Census Bureau that takes into account both broader measures of income and the cost of living.

Nearly a quarter of the state’s 38 million residents (8.9 million) live in poverty, a new Census Bureau report says, a level virtually unchanged since the agency first began reporting on the method’s effects.

Under the traditional method of gauging poverty, adopted a half-century ago, California’s rate is 16 percent (6.1 million residents), somewhat above the national rate of 14.9 percent but by no means the highest. That dubious honor goes to New Mexico at 21.5 percent.

But under the alternative method, California rises to the top at 23.4 percent while New Mexico drops to 16 percent and other states decline to as low as 8.7 percent in Iowa.

























The only other state to approach California in the alternate rankings is Nevada at 20 percent, although Washington, D.C., is close at 22.4 percent.

Ever since the Census Bureau first published its “supplemental poverty measure” rankings that placed California at the top a few years ago, poverty has evolved into a political issue.

It’s now routinely cited in official reports and legislative documents, and Neel Kashkari, the Republican candidate for governor, has tried to make it an issue in his uphill challenge to Democratic Gov. Jerry Brown, even spending several days in Fresno posing as a homeless person to dramatize it.

The Public Policy Institute of California used a similar methodology last year to gauge poverty in the state’s 58 counties, called a California Poverty Measure.

It pegged the statewide poverty rate at 22 percent and found some of the highest rates in the San Francisco Bay Area and coastal communities usually considered affluent due to their high costs of housing. Los Angeles had the highest rate in the state, 26.9 percent, followed by Napa at 25.5 percent.







Call The Bee’s Dan Walters, (916) 321-1195. Back columns,

Read more here: http://www.sacbee.com/news/politics-government/capitol-alert/article2916749.html#storylink=cpy
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« Reply #1527 on: October 20, 2014, 08:17:24 AM »

http://www.breitbart.com/Big-Government/2014/10/20/Politico-Poll-64-Believe-America-is-Out-of-Control


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« Reply #1528 on: October 22, 2014, 08:18:08 AM »

http://www.nytimes.com/2014/10/22/us/nations-confidence-ebbs-at-a-steady-drip.html?_r=0



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« Reply #1529 on: October 28, 2014, 09:28:33 AM »

http://www.telegraph.co.uk/news/worldnews/barackobama/11192438/Life-under-Obama-sucks.-And-these-numbers-prove-it.html
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« Reply #1530 on: October 28, 2014, 10:55:20 AM »

US Homeownership Rate Drops To 1983 Levels: Here's Why
Zero Hedge ^  | 10/28/2014 | Tyler Durden

Posted on ‎10‎/‎28‎/‎2014‎ ‎12‎:‎32‎:‎40‎ ‎PM by SeekAndFind



The last time US homeownership declined down to 64.4% (which the Census Bureau just reported is what US homeownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983.



It goes without saying that this is about the bearishest news possible for those few who still believe in the American homewonership dream.

Of course, those who have been following real-time rental market trends would be all too aware there is no rebound coming to the homeownership rate. The reason is simple: increasingly fewer can afford to buy, instead having no choice but to rent, which in turn has pushed the median asking rent to record highs. In fact in the past two quarters, the asking rent was just $10 shy of its time highs at $756 per month.



 

But capital allocation preferences aside, while explaining the disparity between rental and homeownership in a world where Renting is the new American Dream, what the charts above don't explain is why there is no incremental demand from all those millions of young Americans who enter the population and, eventually, the workforce. At least on paper.

Earlier today, Bank of America in its Chart of the Day earlier was confused by precisely this:








Population growth of 25-34 year olds outpacing growth in the housing stock: The primary driver of household formation is population growth among 25 to 34 year olds. There is notable divergence with the growth in this age group and the growth in the housing stock. This suggests greater doubling up of households as a result of the recession and weak recovery. Unless doubling up turns into tripling up, household formation should recover over time, creating a need for greater building. Given tight credit conditions, this will tend to drive apartment construction more than single family construction. Either way, the housing stock is lagging well behind demographic fundamentals.

 



Yes, in theory, in a normal world, demand should increase over time. But the world is anything but normal.

Enter: the Millennials.

For the benefit of a very confused Bank of America, and everyone else who missed out weeked chart porn on the financial state of the Millennial, here are some of the key charts which explain why owning a home in the US has become a mirage for an entire generation of Americans. Incidentally, the largest generation in US history.

This is what is happening:









 

And this is why:









 

Bottom line: they may be homeless, but Millennials sure love their smartphones...



Much more here.
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« Reply #1531 on: October 29, 2014, 06:45:23 AM »

http://www.cnn.com/2014/10/29/politics/cnn-poll-economy/index.html?hpt=hp_t2
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« Reply #1532 on: November 03, 2014, 12:17:08 PM »

http://blogs.wsj.com/economics/2014/11/03/share-of-first-time-home-buyers-hits-27-year-low/?mod=WSJ_hpp_MIDDLE_Video_second
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« Reply #1533 on: November 17, 2014, 09:34:34 AM »

http://www.huffingtonpost.com/2014/11/17/child-homelessless-us_n_6169994.html



Child Homlessness at record levels.   Angry
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« Reply #1534 on: November 17, 2014, 02:35:00 PM »

http://freebeacon.com/issues/the-guy-in-america/
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« Reply #1535 on: November 20, 2014, 08:22:54 AM »

http://www.breitbart.com/Big-Government/2014/11/19/America-Among-Least-Happy-Countries


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