What's happening to the middle class?

If you have about an hour to waste you might want to check out this speech by Elizabeth Warren on the predicament of the middle class. Pretty sobering stuff.

Great Vid with Economist Michael Hudson

Can the Markets Thrive Without Boomers?

Interesting article on the effect of boomers retiring (if they are lucky enough).

As boomers pull out funds, will they pull down markets?

By: Robert Powell, Marketwatch

"Some economists have warned of the possibility of a dramatic decline in demand as baby boomers sell off their assets to finance their retirement; they assert that the sell-off could cause a dramatic decline in prices," Douglas Elmendorf, director of the CBO, wrote in his report. ''

Read the rest here.

BYE, BYE GM

As of today GM has officially filed for bankruptcy protection. Bye Bye General Motors, hello Government Motors!

The Folly Continues

Another day, another rally, and the bad news continues unabated. GM should be filing for bankruptcy any day now, home prices fell by over 19 percent in the 1st quarter of the year, and the U.S national debt is now well over 11 trillion dollars. The Dow, S&P, and Nasdaq all rallied as a result. Welcome to bizzaro world.

Economist Michael Hudson On U.S Debt

Uh Oh, Looks Like We Might Have Lost Track of a Couple Trillion!