Poverty spreading in suburbs
• ReutersPoverty in the United States is spreading from rural and inner-city areas to the suburbs, according to a study, a situation that can worsen as the economy confronts what may be a protracted recession.
Contents Pages by Subject
Economy - Economics USA
Next Round Of Foreclosures To Hit Retail
• CBS/APBlack 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.
Consumers Forgoing Retailers' Discounts
• Washington PostNew 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
Does the Libertarian party still matter?
• The Guardian[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
Robert Shiller: The Economic Crisis May Run For "Years and Years" - Part 1
• CalculatedRisk.blogspot.comIn this 9 minute interview economist Robert Shiller describes the comparisons between the current crisis and the Great Depression of the 1930s.
Robert Shiller: Economic Crisis May Run For 'Years and Years' - Part 1 - 2 & 3
• econvideo.blogspot.com/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.
Groups Urge No Bailout Benefit To Private Student Loan Lenders
• Washington PostStudent 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.
Shopping Malls: May soon start going dark from coast to coast
• hosted.ap.org/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.
For stores, the holiday season may already be over
• money.aol.com/news/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.
Citigroup: Gold Over $2,000, Massive Inflation, Depression, and Civil Disorder
•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
Real Estate: Case Shiller and CAR Analysis November 2008 Release
• Michael Shedlock / MishThe 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 Bloomberg TV
• www.youtube.com/Peter Schiff "on the money" again! [ed] An aggressive discussion on Bloomberg Tv with Peter Schiff and some other market "experts".
How much thanks are you giving?
Found ZeroI 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'
Stocks Post Their Fourth Straight Increase
• NY TimesFor 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.
Meredith Whitney Says Citigroup, Bank Capital Ratios Will Fall
• Bloomberg.comNov. 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.
Many CFOs Cynical on Banker Bailout Plans
• CNBC.comThe 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.
Roads, skies less full as Thanksgiving rush starts
• Breitbart.comEven 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
Meet The New Boss, Same As The Old Boss
• www.fitsnews.comIs it just us or is the American response to the “global financial crisis” starting to sound a lot like that song by The Who?
Barry Ritholtz: ECRI Leading Indicators Fall to Lowest Level Ever
• ritholtz.com/blog/One of the questions I seem to be getting all the time is “When is this recession going to end?”
Bill Fleckenstein: The meddlers can't tame the market
• articles.moneycentral.msn.comWhen government knuckleheads interfere with capitalism, you can bet the law of unintended consequences will be quick to rear its head.
U.S. Durable Orders Fall Twice as Much as Forecast
• Bloomberg.comOrders for U.S. durable goods fell twice as much as forecast in October as the credit freeze deepened and sales tumbled.
October New Home Sales: Lowest Since 1982: Off 40 Percent From 2007
• CalculatedRisk.blogspot.comSales 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.
The Bailout Surge<p>by Ron Paul
Powell GammillIt 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.
Weekly Initial Unemployment Claims: 4-Week Moving Average at 25 Year High
• CalculatedRisk.blogspot.comThe four moving average is at 518,000 - above the highest levels of the '91 and '01 recessions, and the highest level since 1983
How Could It Be Worse Than the Great Depression
• GeorgeWashington2.blogspot.comOne 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
Keynes on Steroids<br>by Steven Pearlstein
• Washington PostNixon'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'
U.S. Plans $800 Billion in Lending to Ease Crisis
• NY TimesThe 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]
Economy Hitting Women Hardest, Say Experts...
• www.glennsacks.comSeveral 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
Obama and Paulson to give free alcohol to alcoholics
Menckens GhostJoining with Treasury Secretary Henry Paulson, President-elect Barack Obama has announced new hope and change for alcoholics.
G.M.’s Pension Fund Stays Afloat, Against the Odds
• NY TimesWhen 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.
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