Economy

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FREE BOOK (depressing topic but FREE).

James Kwak's avatarThe Baseline Scenario

By James Kwak

I contributed a chapter to Is U.S. Government Debt Different?, a book published by the Financial Institutions Center of Wharton. It includes chapters by many people more distinguished than I, such as William Bratton, Peter Fisher, James Hines, Howell Jackson, Deborah Lucas, Steven Schwarcz, Richard Sylla, and others. You can download the whole thing for free at the link above. Enjoy.

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The Battered Incomes of the Self Employed | Small Business Trends

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The 2010 Federal Reserve Survey of Consumer Finances – a triennial survey of a random sample of American households conducted for the Fed by a University of Chicago-based survey research group – shows the large drop in self-employment income that occurred during the recent economic downturn.

via The Battered Incomes of the Self Employed | Small Business Trends.

No place to hide in this Great Recession.

Scary Chart Of The Day: When $0.99 Becomes Unaffordable, We Have A Problem | ZeroHedge

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Holy Crap Batman!

So our question is: at what point does the perpetually self-deluded US population finally admit to itself that when even 99 cent meals are no longer affordable, that this country has a problem?

via Chart Of The Day: When $0.99 Becomes Unaffordable, We Have A Problem | ZeroHedge.

It has been a long, long time since I had a Scary Chart post.  Well, your wait is over.