photo by Kirk Horsted
This darn recession shows little sign of mellowing. Oh sure, the economic indicators and trading markets look better. But without the infusion of massive (borrowed) cash courtesy of Uncle Sam, we’d still be sinking. Just ask the Average American—who volunteered this depressing assessment of their major holdings…
- 25 percentage of Americans who owe more on their mortgage than their home is worth
- 70 percentage of Americans who aren’t sure they’ll save enough for retirement
Is there a silver lining here? Possibly, but remember that silver isn’t worth much compared to America’s gold-standard lifestyle. Perhaps the best hope is that the cycle has to end someday. And then home prices will again start rising, mortgages will seem more worthwhile, and retirement accounts will be both higher in value and priority.