My views about why Americans are using credit cards to pay for necessities, new claims for unemployment benefits hitting 400,000 for the 15th consecutive week, Moody’s considering downgrading the AAA bond status of five states (Maryland, New Mexico, South Carolina, Tennessee, and the Commonwealth of Virginia) and the growing economic disparity in the U.S.
Bank of America logs worst-ever loss: $8.8 billion
http://www.lansingstatejournal.com/article/20110720/BUSINESS/107200309/Bank-America-logs-worst-ever-loss-8-8-billion?odyssey=mod|newswell|text|FRONTPAGE|p
Wealth, Income, and Power
2007 TOP 1% population 42.7%
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
Regional factories rebound, jobless claims up
http://www.reuters.com/article/2011/07/21/us-usa-economy-idUSTRE7662I420110721
Consumers Use Credit Cards for Necessities as Inflation Cuts U.S. Incomes
http://www.bloomberg.com/news/2011-07-21/consumers-in-u-s-relying-on-credit-as-inflation-erodes-incomes.html
44.6 million people on Food stamps
http://www.fns.usda.gov/pd/34SNAPmonthly.htm
U.S. loses $1.3 billion in exiting Chrysler
http://money.cnn.com/2011/07/21/autos/chrysler_government_exit/index.htm?cnn=yes&hpt=hp_t2
Ratings agency Moody’s
http://wallstcheatsheet.com/stocks/moodys-now-threatening-downgrade-on-5-u-s-states.html/
What does rise in shoplifting say about the economy?
http://www.usatoday.com/money/workplace/2011-07-17-cnbc-shoplifting-economy_n.htm
POLICE STATE: For all of you people who refuse to admit that America is transforming into a http://www.youtube.com/watch?v=LM1SB8i_IAE&feature=player_embedded#at=31
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