The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: BWAC who wrote (295492)	12/3/2010 5:37:52 PM
From: pstuartb	Read Replies (2) of 306849

The ZH post has a link to the SNAP report. If you divide the number of people receiving food stamps by the number of households receiving them, you get about 2.1 people per household. If you have 2 people in your household, to qualify for assistance the household's gross monthly income has to be less than $1313. That's $15,756 per year gross income for the household of 2. And we have 43 million Americans, or 15% of the country, qualifying at that kind of income level. That doesn't include illegal aliens, or people on strike, or people without social security numbers, or people who don't want to apply for assistance for whatever reason. So, call it at least 20% of the country living at roughly that income level. And QE is supposed to save the economy because people feel better about their 401k balances. What a crock. QE is about saving the biggest banks from having to admit they're insolvent. It's also about trying to keep interest payments on the federal debt from exploding. If the Fed is going to spend trillions to save the banksters while nearly a quarter of the populace sinks deeper into the ash heap, at least they should come up with a more believable lie.

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