Looking for Work? If you’re unemployed, don’t apply

This is absolutely insane.  Who needs a job more than someone who doesn’t have one?  In a cruel twist of logic, some employers aren’t taking applications from the unemployed as a “culling” mechanism to manage the inundation of resumes and applications they receive for job openings.  The idea is that the best employees are those … Continue reading

Employed but still homeless

  A very interesting article out of the New York Times about the employment/homelessness situation in North Dakota.  Apparently, North Dakota has a very low unemployment rate (about 4%) due to the growing oil service industry but also a limited housing stock just due to an acute shortage of housing.  There have been an influx … Continue reading

The Crisis: Long-term structural unemployment

I ran across a couple of articles today on unemployment; one from the New York Times and another from the Atlantic.  The focus of both articles was on the nature of the unemployment situation we have at hand, which is projected to persist for the long-term (next 10 years) and is structural in nature. That’s … Continue reading

The Great Recession: How to Survive

  The employment outlook is generally bad, but depending on how one is positioned, it can be much worst as described by this article in Time.  The headlines have cheered lately around the unemployment rate dropping a half percent to 9.7%, but for construction workers, the official unemployment rate jumped to 24.7% and according to … Continue reading

Another Picture Worth a Thousand Words: The Coming Mortgage Default Tsunami

At the chance of sounding like a broken record, I must talk again about the coming problems we’re going to have on the housing and banking fronts.  The chart above is extremely disconcerting.  It depicts the coming wave of option payment ARM mortgage resets.  Option payment ARM’s allowed folks to effectively pick a payment; a … Continue reading

Great Recession Leaving Tracks

    At his rented home in Lehigh Acres, James Mould sells items that families in the area tossed out before moving As  the Great Recession/Depression II plays out, it’s leaving tracks almost everywhere imaginable.  How this event impacts any particular person really depends upon how leveraged (indebted) one was and whether or not one was … Continue reading

Obama fires back: Responds to African-American Critics

Over the past few weeks, Obama has come under intense fire from prominent African Americans ranging from Cornel West to Danny Glover, Jesse Jackson and the Congressional Black Caucus.  The basic complaint is that Obama has ignored the plight of African-Americans and some think that some special dispensation needs to be given as a salve … Continue reading

States that rank last in happiness rating

There’s been a study recently completed ranking the states and the District of Columbia from high to low based on how residents felt about their quality of life and overall happiness.  Half of the states ranked in the bottom ten were on the east coast (PA just missed the bottom ten; it was ranked the … Continue reading

Debtor’s Dilemma: Pay the Mortgage or Walk Away

Well, in the post immediately preceding this one, we see that there are people whose financial situation is such that they have to worry about eating between getting their monthly food stamp allotment.  That’s not the full story of the financial crisis as we’ve another group of people who, while not needing to concern themselves … Continue reading

Midnight in the food-stamp economy

I read an interesting article from Reuters on the food stamp economy.  Retailers like Costco and Walmart have had to upgrade their point of sale systems to handle food stamp EBT cards.  Clearly, the job situation has driven droves of people onto the public assistance rolls.   Ultimately, people are going to have to come up … Continue reading