“A solid majority of restaurant operators reported negative same-store sales and traffic levels in November, while nearly one-half expect their sales in six months to be lower than the same period in the previous year.”
Only a government totally oblivious to reality would imagine that Russia’s Putin, whose nose is rubbed in excrement every day by the US government, will permit America to transit Russian territory to resupply US imperial legions in Afghanistan.
Unemployment nationally in the USA is now touching 16%. The officially posted number is somewhere near half of that. By the fall of 2009, American real unemployment will be near the all time 1930′S Great Depression high of 25% unemployed. Sadly
The trillions President-elect Obama plans on spending to "cure" our economic malaise will prove poisonous to the dollar, with hyperinflation an inevitability. Whether this reaches Weimar levels remains to be seen, but one can easily imagine
Companies in the U.S. eliminated an estimated 693,000 jobs in December, the most since records began in 2001, a private report based on payroll data showed.
Merckle, whose estimated $9.2 billion fortune put him 94th on Forbes’ list of the world’s richest people, was hurt by bets on Volkswagen AG, a drop in the value of HeidelbergCement stock and increasing debt. The family’s spiraling debt threatened hol
“The total value of the bailouts undertaken by the federal government in 2008 now exceeds the combined cost of every major war the United States has ever engaged in, according to a comparison of war costs calculated by the Congressional Research Serv
Ivy Zelman stated her opinion during this morning's interview that the housing market would be much worse in 2009 when compared to 2008
Let your kid tell the world on a nationally televised commercial that "It's not their debt!" This video brought to you by http://FreedomsPhoenix.com "It's not my debt"
Dr. Paul speaking at 28 minutes and 1:41 into hearing. Of course the CON-gressmen of the committee shows how they must improve legislation so that the investor CON-fidence is restored in the schemes. Dr. Paul mentions on the record that the biggest
Every time a geo-political event, or a serious economic happening, such as the collapse of Bear-Stearns, causes gold to rise, (as it would be expected to do since it has always been a ‘safe haven investment’), the price immediately gets trounced, and
By participating in the AOCS, you have immediate access to the thousands of participating merchants across the country, as well as the approved Mints that will craft your private currency. AOCS Merchants are enrolled to accept any AOCS-approved curre
Chrysler LLC said Monday that U.S. December sales fell 53% to 89,813 vehicles from 191,423 a year ago. From a year ago, U.S. December sales of Chrysler-branded vehicles dropped 60% to 19,453 vehicles, Jeep-branded vehicles fell 48% to 23,091...
“If consumer confidence doesn’t snap back soon, it’s going to be difficult for the automakers,” said John Wolkonowicz, an analyst with IHS Global Insight. “It isn’t just GM, Ford, Chrysler that are suffering from this. It is the entire auto industry
The California 2010 deficit is now projected to be $25 billion, a whopping 24.8% of the Fiscal Year 2009 General Budget. However, how can anyone have any confidence in the numbers when the projected deficit is revised higher every month?
President-elect Barack Obama and Congressional Democrats are considering a major expansion of government-assisted health care insurance and unemployment benefits as part of a two-year economic recovery program.
The U.S. economy probably lost more jobs in 2008 than in any year since the end of World War II as firings rippled from homebuilders and automakers to banks and retailers, a government report may show this week.
The SEC imposed the temporary ban under intense pressure from the Federal Reserve and Treasury Department which insisted it was crucial to the short-term survival of these institutions, Cox said. A few weeks after the temporary ban was lifted, global
In this nine minute interview Nassim N. Taleb and his mentor Benoit Mandlebrot discuss the seriousness of America's financial situation and how little we understand of its possible outcome. Video interview from 12-21-08.
"We are facing an economic downturn that is worse than anything I have seen in the post-war period," Feldstein said. "American households have lost more than $10 trillion of net worth in the stock market and housing prices. Watch the v
Blagojavich stood up to the Bank...I think everyone knows the rest of the story.
Dr. Parks is the Executive Director of the Foundation for the Advancement of Monetary Education (FAME), whose Board of Advisors includes Ron Paul, Lew Rockwell, Edwin Vieira. He wrote the highly acclaimed book "What Does Mr. Greenspan Really Th
A group of Democratic governors warned Friday that without as much as $1 trillion in federal assistance, many states will not be able to pay their bills in the next year.
2008 saw the greatest financial losses in generations, as $6.9 trillion poured from investors' coffers in the worst series of cascading disasters since the Great Depression. The resulting panic was met with equally drastic action by the US Treasu
[buried] Obama aides said the president-elect will make an all-out push to convince Americans the government must spend $1 trillion to create jobs, provide cash for spending and shore up the finances of the state governments.
Global economic imbalances helped to foster the credit crisis by pushing down global interest rates and driving investors towards riskier assets, outgoing US Treasury Secretary Hank Paulson told the Financial Times. In a valedictory interview, Mr
U.S. regulators working to untangle Bernard Madoff’s alleged $50 billion Ponzi scheme are probing other money managers suspected of using similar tactics, two people with knowledge of the inquiries said.
The decline in U.S. manufacturing deepened in December as demand for such products as cars, appliances and furniture reached the lowest level since at least 1948, signaling further cutbacks in factory jobs and production this year.
New York's police chief warned Wednesday that banks need to beef up security as thieves respond to the recession with a wave of heists. "We have seen an up tick in bank robberies," Commissioner Raymond Kelly told CNN.
Renowned financial publication The Economist reports that, based on the characteristics of the current financial crisis, the U.S. is in a depression, not a recession.