Rocky Vega

The economy is still in tatters. Despite the bailout-fueled “rally,” there are a couple of shoes that have yet to drop and, according to Financial Armageddon, there are about 23 of them. In its recent post, “the sum total of all that is wrong,” it highlights 22 major areas in which the economy is completely broken and needs a major overhaul.

Here are the top ten problems…

1. A broken global credit market that has not fully recovered.
2. Lack of transparency in Mortgage-Backed Securities and other re-packaged debt instruments.
3. The increasing Federal debt, which is growing at an unprecedented rate.
4. Mountains of consumer and corporate debt.
5. The Federal budget deficit.

6. Ever-expanding bailouts.
7. Monetization of the National Debt.
8. The destruction of the American consumer economy.
9. Chronic unemployment, possibly much higher than officially reported.
10. More than $500 Billion USD in hedge funds that have borrowed short and lent long.

The full list of 22 reasons for why this recession is different originally comes from SurvivalBlog. Financial Armageddon adds an important 23rd factor that Agora Financial editors frequently mention but is often overlooked by the mainstream media — the nation’s decrepit infrastructure.

Rocky Vega

Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let?s Go Publications, Harvard Student Agencies, and The Harvard Advocate.

Recent Articles

Extra!
Missing Money: What Government Accounting Really Looks Like

Jeff Desjardins

Everyone knows how comically terrible government accounting is, but few people may realize just how bad it's gotten... This infographic shows how trillions of dollars of government money has gone missing money over the last several years. And what's worse... that no one seems to care where it went...


Sage Advice for Bored Investors

Chris Mayer

It's amazing what some people will do out of sheer boredom. Investors, for example, will often throw money around, simply because they have nothing better to do - as if making MORE moves automatically translates to MORE money. Today, Chris Mayer explains why this emotion is so dangerous and how staving it off can save you a ton of money...


The One Word Every IPO Investor Needs to Know

Jonas Elmerraji

When a big company IPOs, investors can hardly contain their excitement. In a flash of exuberance, they throw money at a company they've already decided is worth something... even if the market hasn't made up its mind yet. Today, Jonas Elmerraji explains how one simple word can change the fate of every IPO investor. Read on...


How to Escape Obamacare in One Bold Move

Chris Campbell

Think it's impossible to escape the throes of Obamacare? Think again. Today, Chris Campbell relays the story of one man was able to get out from under the (un)Affordable Care Act, and how you can do it too. Don't see another doctor, take another pill, or shop around for better medical insurance until you read his story...


Let the Alibaba IPO Show You Where the Market’s Headed

Greg Guenthner

For the last few days, the market has been buzzing with excitement over the Alibaba IPO. Well, the day is finally here. And while some investors line up with their lotto tickets, ready to snatch it up no matter what the price, Greg Guenthner suggests a slightly more restrained approach. Read on...