Reposted with the kind permission of Charles Hugh Smith The essence of debt serfdom is debt rises to compensate for stagnant wages. I often speak…
Is the U.S. really a post-oil economy?
One way to gauge the real economy is to look at charts of the GDP, wages, household debt and the price of oil; another way is to correlate all of these on one chart. The following chart (courtesy of freq…
Meet Darren Flenoy, a Bay Area security guard who lives 40 miles from work. Gas costs him about $500 a month. His car payment is another $500. On top of that, he spends $80 per month on insurance and $180 on tolls. In total, Darren’s commute costs …