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Weekend Reading: Social Benefits Nation

Written by Jesse Colombo | Mar, 9, 2018

Chart of the Day

Today’s chart of the day shows U.S. social benefits as a percentage of real disposable income, which comes from Lance Roberts’ must-read piece “Sex, Money & Happiness.” As U.S. economic vibrancy continues to erode throughout the decades and debt saturates practically every sector of our society, American citizens have become increasingly reliant on government transfer payments to survive. As recently as the 1970s, government transfer payments amounted to less than 5 percent of real disposable incomes, but now amount to nearly 1 in 4 dollars worth of real disposable income! How can this situation be sustainable considering how much debt the U.S. government is in, at all levels? The answer is simple: it’s not.

Social Benefits vs Incomes


Economy

42 percent of Americans have less than $10,000 saved and may retire broke (CNBC)

Turns out the ‘great inflation scare of 2018’ didn’t happen. Wages still not rising rapidly (MarketWatch)

Why our economy is driven by dangerous asset bubbles (Macromon)

The U.S. Income Inequality Crisis: The American Dream Vanishing? (The Gold Telegraph)

The End of Cheap Debt Will Bring a Wave of Bankruptcies (Mises.org)

The Middle Class Might Nearly Disappear In The Next Decade (Forbes)

Is Your Paycheck Safe From Robots? (Daily Reckoning)

Uber Self-Driving Trucks Delivering Goods in Arizona (Mike “Mish” Shedlock)

Burger Flipping Robot Starts First Shift at California Restaurant (Mike “Mish” Shedlock)

U.S. household debt grows at fastest rate in 11 years (MarketWatch)

All the crazy things happening in San Francisco because of its out-of-control housing prices (Business Insider)

Toys R Us could close all 800 of its US stores (Business Insider)

Abercrombie is closing 60 stores in 2018 (Business Insider)

The Gig Economy Won’t Save American Workers At $3.37 An Hour (Forbes)

Are Subprime Debt Slaves, a Leading Indicator, Worrying the Fed? (Wolf Richter)

Signs Of The Peak: 10 Charts Reveal An Auto Bubble On The Brink (ZeroHedge)

Jim Rickards: China’s Coming Meltdown Will Rapidly Spread to U.S. (Daily Reckoning)

Yield curve still has power to predict recessions, San Francisco Fed paper says (MarketWatch)

The Home-Price Surges in 100 Cities since Housing Bubble 1.0 (Wolf Richter)

Why Another U.S. Housing Collapse Is Coming Right Up (Mike “Mish” Shedlock)

Watch These Triangle Patterns In Stocks And Crude Oil (Jesse Colombo)

Trump’s Volley – Hoover’s Folly? (Michael Lebowitz)

Divorced From Reality: Prices & Fundamentals (John Coumarianos)

4 Ways To Plan For The “Retirement Apocalypse” (Richard Rosso)

Yield Spread Sends “Recession Warning” (Jesse Colombo)

Technically Speaking: Eating Sardines (Lance Roberts)

Mr. Market – “You’re The Top! You’re The Louvre Museum” (Doug Kass)

Sex, Money & Happiness (Lance Roberts)

The Day Liquidity Died (Doug Kass)

S&P 500 Monthly Valuation & Analysis Review (J. Brett Freeze)


Jesse Colombo

Jesse is an economic analyst and Forbes columnist who was recognized by the London Times for warning about the U.S. housing and credit bubble as a university student. Jesse continues to warn about dangerous post-2009 economic bubbles and has over 100,000 social media followers. Jesse graduated with a Bachelor of Science (cum laude) from Stony Brook University.

2018/03/09
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