Black Friday's retail shoppers hunting for holiday bargains won't be enough to stave off what's likely to become the next economic crisis. Malls are entering foreclosure, commercial victims of the same events poisoning the housing market.
New economic data show that last month consumers were not tempted by retailers offering deep discounts. They were not enticed by lower home prices. And even though falling gas prices made their wallets a little fatter, they held on to their newfound
[Can you believe this ignorant sack of drivel?] Libertarians, like their fellow travelers in the conservative movement, are at a loss on how to move forward. The growing consensus in America is that Obama must act as boldly as FDR did to save industr
In this 9 minute interview economist Robert Shiller describes the comparisons between the current crisis and the Great Depression of the 1930s.
In part 2&3 of this video interview Robert Shiller talks about changes in the zeitgeist, culture and how 'Bubble Thinking' took hold in residential real estate.
Student advocacy groups are urging the Treasury Department to prevent a new $200 billion consumer-lending program from benefiting private student lenders, which they say are largely unregulated and prey on students with risky, high-interest loans.
Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure.
Experts say discounts are only going to get even better as stores resort to more extreme measures to clear out unsold items. The value of coats and sweaters drops dramatically as the winter months wear on.
In an internal note, Citigroup has predicted a “gloom” and “doom” scenario, of inflation, depression, and potentially war. DBKP takes a look at the period before the Great Depression, the Roaring Twenties, to see if there are any “similarities” to ou
The housing numbers are as grim as expected. The CAR housing numbers reflect Oct 2008 which are actual sales in late August and September . The price declines range from 30% to 60% with median price declines between $130,000 and $800,000.
Peter Schiff "on the money" again! [ed] An aggressive discussion on Bloomberg Tv with Peter Schiff and some other market "experts".
I suppose it's highly traditional for an American author to wax nostalgic on a holiday. Time to think of traditions that tie us to the past, that tie us to family and community. Time to put aside the cares of the world and make time for what'
For the first time since last spring, the Dow Jones industrial average and the Standard & Poor’s 500-stock index managed to advance for four consecutive days.
Nov. 26 (Bloomberg) -- Capital ratios at Citigroup Inc. and other U.S. banks will fall and the government’s cash injections just “plug holes” in the companies’ balance sheets, Oppenheimer & Co.’s Meredith Whitney said.
The top financial officers of Corporate America seem to have some doubts about whether the money being earmarked by the federal government to bail out banks will be used wisely, according to a survey.
Even though gas prices fell and airlines offered last-minute deals, many Americans appeared to be skipping trips this year. San Francisco resident Sharon McKellar called the Miami airport "shockingly quiet" after flying in overnight to visi
Is it just us or is the American response to the “global financial crisis” starting to sound a lot like that song by The Who?
One of the questions I seem to be getting all the time is “When is this recession going to end?”
When government knuckleheads interfere with capitalism, you can bet the law of unintended consequences will be quick to rear its head.
Orders for U.S. durable goods fell twice as much as forecast in October as the credit freeze deepened and sales tumbled.
Sales of new one-family houses in October 2008 were at a seasonally adjusted annual rate of 433,000. This is 5.3 percent below the revised September of 457,000 and is 40.1 percent below the October 2007 estimate of 723,000.
It seems that eventually the entire economy is going to be blanketed over with Federal Reserve notes. Most in Washington are completely oblivious as to why this model of money creation and spending is so dangerous.
The four moving average is at 518,000 - above the highest levels of the '91 and '01 recessions, and the highest level since 1983
One of the world's foremost authorities on derivatives Nassim Nicholas Taleb explains (together with the creator of fractal theory and chaos theory, Dr. Mandelbrot) that the financial crisis will be worse than the Great Depression because of deri
Nixon's Keynesian conversion looks positively quaint compared with the fiscal and monetary stimulus that is about to be brought to bear on the US and global economy. I doubt even Keynes himself could have imagined the scale and scope of what'
The Federal Reserve and the Treasury announced $800 billion in new lending programs, sending a message that they would print as much money as needed to revive the nation’s crippled banking system. [we call that HYPERINFLATION]
Several of you sent me this from Yahoo.com's headlines page -- Economy Hitting Women Hardest, Say Experts (11/21/08). It's a variation on the "Nuclear Holocaust Kills Billions--Women Hit Hardest" theme. If the Ms. Foundation for Wom
Joining with Treasury Secretary Henry Paulson, President-elect Barack Obama has announced new hope and change for alcoholics.
When General Motors left Washington empty-handed last week, among the lingering questions was whether its huge pension fund could topple and crush the government’s pension insurance program.
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.