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After scrutinizing his record for four years, UCLA economists Harold L. Cole and Lee E. Ohanian concluded in a new study that the policies FDR signed into law 71 years ago thwarted economic recovery for seven long years.
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In a sign of bad economic times, more than 40,000 show up when a Weld family invites people to gather surplus produce.
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WASHINGTON (AP) — Rushing to rescue Citigroup, the government agreed to shoulder hundreds of billions of possible losses at the stricken bank and to plow a fresh $20 billion into the company.
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The Free Lakota Bank is the world's first non-reserve, non-fractional bank that issues, accepts for deposit, and circulates REAL money...silver and gold. All of our deposits are liquid, meaning they can be withdrawn at any time in minted rounds
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It’s not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday.
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"Every week at church, somebody else is out of work," Jones said. "I've been a homeowner a long time -- the last 10 years as a single mother -- and I never missed a payment. Now look at me. And it could be you -- any middle-class p
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Home resales in the U.S. dropped in October and prices fell by the most on record, signaling a deepening housing recession going into 2009.
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The builders' lobby is ramping up its sales pitch for a $250 billion stimulus package called "Fix Housing First," arguing that financial markets won't recover until home prices stop falling.
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Those are some ugly numbers and I’ll explain why. Citigroup’s leverage ratio of 56 means that the bank has $56 of assets for every $1 of common equity. If the value of those assets falls 2%, then common stockholders are wiped out.
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Words Eye View
In George Orwell’s political novel 1984 he mentioned often the “Ministry of Truth.” We call it today “the media” such as, CBS, NBC, ABC, CNN, MSNBC, CNBC, FOX NEWS and all of the rest of the alphabet soup channels, along with the various other n
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GM spokesman Tony Cervone acknowledged today that the board has examined the possibility of bankruptcy as an option the automaker may need to pursue should it not receive its share of a $25 billion low-cost loan package the Detroit automakers are see
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The tax cuts were instated by President Bush and discontinuing them was a key promise of Obama's campaign for the presidency.
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ZURICH, Switzerland (AFP) — The IMF's chief economist has warned that the global financial crisis is set to worsen and that the situation will not improve until 2010, a report said Saturday.
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A lecture delivered at the Gold and Monetary Conference, New Orleans, November 10, 1977. It made its first appearance in print in the Journal of Libertarian Studies, Volume 3, Number 1.
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many Americans are hoping the new administration will solve the economic problems we face. That’s not likely to happen, because the economic advisors to the new President have no more understanding of how to get us out of this mess than previous admi
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Yet Oliver Stone-style sleuths are digging for something darker, like regulatory missteps or the federal government sacrificing WaMu to pressure Congress to approve a multibillion-dollar bailout for the financial industry.
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Today the Downey Financial is finally gone. Long live Jim Cramer!
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In this November 5th interview on CNBC Meredith stated that $2 trillion would be withdrawn from credit card lines of credit, and that financial stocks could fall in the neighborhood of 70% due to falling revenue.
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This is a great interview, it is too bad the lady who followed didn't get included who literally said, "What your prior guest Mr. Schiff said." Note the panelists sneering, ticked off that he has the nerve to say what he says.
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President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.
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“It’s getting really ugly out there,” it said. “It may be true that we have passed the first phase of this crisis, but that does not mean the next phase will not be worse, perhaps very much worse.”
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Good article on the global work force and the american worker and how the policies of greed and what not got us into this point of looking into the abyss
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Freddie’s common stock has traded below $1.00 per share for the past 30 days, prompting the warning. The GSE said its common and preferred stock would potentially be suspended and delisted unless it provides a plan by Dec. 2
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[draining unemployment funds] With no end in sight to economic bad news, President George W. Bush on Friday ensured that millions of laid-off workers will keep getting their unemployment checks as the year-end holidays approach.
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It was the sharpness of the drop rather than the absolute level that was most disturbing, according to Mish. Moves of this speed are extremely rare.What followed in September is, of course, well documented. The 2nd and 3rd charts are interesting.
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Afshin Rattansi in Tehran talks to Max Keiser in Paris about the end of Wall Street, dollars and toilet paper - and Morgan Stanley and Goldman Sachs no longer being investment banks. [this is olde but good]
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Wall Street plunged more than 5% on Wednesday to its lowest level in over five years on rising economic worries. October consumer prices fell 1% on the month before - the biggest such fall in 61 years, which has reinforced fears of rapid slowdown.
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In the center of the vortex is Citigroup, whose stock-market plunge accelerated, sending shock waves through the financial world.The shares slumped 26% Thursday; the bank has lost half its value in just four days.
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Fannie Mae and Freddie Mac, the two biggest U.S. home loan finance companies, said they would suspend foreclosures of occupied homes until early 2009, as the government moves to stem the tide of home losses plaguing the economy.
