U.S. employers cut jobs for a sixth straight month and service industries shrank in June, signaling that the economic slowdown may deepen as the impact of federal tax rebates [ha ha ha] fades. Payrolls fell by 62,000 after a 62,000 drop in May that w
1. Ann Taylor closing 117 stores nationwide A company spokeswoman said the company hasn't revealed which stores will be shuttered. It will let the stores that will close this fiscal year know over the next month. 2. Eddie Bauer to close more sto
I am told the Bernanke will inflate our way out of this mess. When? How? Your answer needs to address jobs, wages, interest rates, the impact of those interest rates on housing
A weaker dollar cannot be blamed for soaring oil prices as policymakers around the world tussle with the twin specters of rising inflation and slowing growth, U.S. Treasury Secretary Henry Paulson said.
U.S. private-sector employers slashed 79,000 jobs in June, the largest drop since November 2002, according to a report by ADP Employer Services that may spell bad news for the government's labor market report later this week.
"At one master plan community, the entire development appeared to be vacant -- with the exception of crews working on new construction, it was a ghost town."
Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of
Democrats in the U.S. Congress are gearing up to pass a second election-year economic stimulus package, but unlike the $152 billion measure that passed in February, they are not counting on getting the support of President George W. Bush.
The Federal Reserve has auctioned another $75 billion in loans to squeezed banks to help them overcome credit problems and announced it will provide a fresh batch of the loans this month.
(NOW YOU KNOW THE END IS NEAR)
Ford is the first automaker to report sales data Tuesday. Industry analysts expect June to be a dismal month for the industry with sales down double digits from last June.
Rising fuel prices are putting a pinch on the world’s oldest profession. Nevada brothels that cater to long-haul truckers are offering gas cards and other promotions after seeing business decline as much as 25 percent from a year ago, industry offici
The position of American households is so fragile that major institutions might fail. Washington Mutual, America's largest thrift institution, is now trading at a tenth of its 2007 stock price. It is not clear whether any other institution is wil
MyGallons.com allows drivers to fill up their tanks sometime in the future but at current prices, using a debit-like card which banks gallons rather than dollars. [You too can be a fuel speculator.]
Jim Rogers, who in April 2006 correctly predicted oil would reach $100 a barrel and gold $1,000 an ounce, said investors should steer clear of the dollar as the US economy slows and favor commodities this year. The dollar has slipped 7.7%
Few are still alive that went through the great depression. That is the nature of the game. People have to forget what a depression is like to bring about the conditions that cause them. And they did. And they made the same mistakes over again, excep
-In 2002, payments for the median home reached the upper end of affordability at the time. All of a sudden in mid-2002 the intermediate-term 3/1, 5/1, 7/1 and 10/1 fully amortized and interest only loan programs were introduced.
There was a record 2325 NOTs issued is June 2007. As of last Frday, there were 6668 NOTs issued in Maricopa County for the month of June, and there is still one business day left.
The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier, the biggest since 1940-42,
American supermarkets are epics of excess: it often seems like every item in the store comes in a "Jumbo" size or has "Bonus!" splashed across the label. But is it possible that the amount of food Americans are buying is, in fact.
The Fed is in a bind. If it keeps rates low and loans plentiful to combat a recession, inflation could worsen. If it raises rates and tightens the money spigot to fight inflation, the downturn could be deepened and prolonged.
The Revolutionary Guards said Iran would impose controls on shipping in the vital Gulf oil route if Iran was attacked and warned regional states of reprisals if they took part. "Every country under attack by an enemy uses all its capacity to con
Eventually the strong become weak because of these actions. Bernanke's actions suggest there is no bank strong enough to take over the banks are about to fail.
The former Fed chairman sharply criticizes President Bush for not vetoing bloated spending bills and for adding prescription drug benefits to Medicare even though the budget surplus had disappeared and deficits were mounting.
Barclays Capital has advised clients to batten down the hatches for a worldwide financial storm, warning that the US Federal Reserve has allowed the inflation genie out of the bottle and let its credibility fall "below zero".
U.S. stocks fell, pushing the Dow Jones Industrial Average to the brink of a bear market, on concern subprime-related writedowns will worsen and record oil prices will reduce profits at consumer companies. The Dow extended its retreat from an October
Oil futures climbed to a new record near $143 a barrel Friday as the dollar weakened against the euro, confirming expectations that the falling greenback, a major factor in crude's stratospheric rise, will extend its decline and add to oil
[About midday] I received a phone call from the Lord of the Dark Matter, who began the conversation: "It's about to blow!" He then repeated himself.
If gold is signaling anything right now, it is the further destruction of fiat credit (deflation) as we move from disinflationary conditions to deflationary ones.
Ron Paul discusses rising energy costs and Iran. From the House floor.