Has the recession ended? If not, do “green shoots” foretell a recovery’s advent in the near term? The answer, of course, depends on which indicators we check.
A law took effect in Pennsylvania with the goal of ensuring that students leaving high school are prepared for college and the workplace. But critics say the requirement has been so watered down that it is unlikely to have major impact.
The U.S. trade deficit jumped to the highest level in 10 months as an improving U.S. economy pushed up demand for imports. However, exports rose as well, boosted by a weaker dollar, supporting the view that American manufacturers will be helped by a
n 2009, the 14 million cars scrapped exceeded the 10 million new cars sold, shrinking the U.S. fleet by 4 million,
"I want to be clear here that the blame, to the degree that there was, is largely in the United States, not in Europe, not in Britain," Schmidt said. "And it was fundamentally because a low-interest policy created too much money. It was an easy-money
Ken Schoolland is presently an Associate Professor of Economics and Political Science at Hawaii Pacific University. He is an economist, academic, author, and political commentator. Schoolland is also a Member of the Board of Directors for the Interna
The economic health of America is dire and worsening
In 2009, the United States maxed out, hit the wall, smashed on the brakes, screamed into the abyss. Results: 15 million unemployed Americans; 35 million subsisting on food stamps; $12 trillion debt.
Take the pledge to Move Your Money! In the past week, Move Your Money evolved from a New Year's Resolution into a national movement. Press coverage spans the spectrum from mainstream outlets to advocacy blogs and progressive organization -- fro
Who better to talk up a new "twist" in the Medicare program than 60s singer Chubby Checker. The twist is that as of Jan. 1, more than 1 million low-income seniors are newly eligible for more generous prescription drug benefits under the "extra hel
Employers slashed another 85,000 jobs in December, the government said Friday, a greater than expected number that nonetheless points to the trend of diminishing layoffs. The report from the Bureau of Labor Statistic also revised November job figu
Today, Paul Farrell quoted Barton Biggs as predicting the breakdown of civilization and anarchy: In his 2008 bestseller "Wealth, War and Wisdom" former Morgan Stanley research guru Barton Biggs warns us to prepare for a "breakdown of civilizati
As U.S. Senator Christopher Dodd attempts to seal his legacy by pushing through sweeping financial reform legislation this year, the real changes that threaten financial firms' bottom lines lie in the ever-shifting hands of regulators.
Enron? Bear Stearns? Bernie Madoff? They’re all big stories about big losses and have hurt a lot of employees and investors. But none come close to getting my vote for the decade’s most dastardly deception...
Throughout the year, the Clerk of Court’s office reported long lines of people and attorneys trying to file bankruptcy cases. "The filings continued to climb, unfortunately as a reflection of our economy," said the court's chief deputy clerk.
Behind the Christmas Eve taxpayer massacre at Fannie and Freddie.
Well, that was it for 2009. Whew! Another great year for gold. But it wasn’t a bad year for stocks either. The NASDAQ rose 45%. The Dow went up about 20%.
Columnist and leading Keynesian economist Paul Krugman called it the Big Zero. He wrote that "there was a whole lot of nothing going on in measures of economic progress or success" which is true. Krugman continues to misleadingly blame the free mark
Underneath its glitzy casinos, far from the bright marquees, there is another Las Vegas, a pitch-black, dank underworld virtually unknown and unseen by those who live, work and play above. About 300 people - mostly men battling demons of various a
The stock market closed out a remarkable 2009 with a loss as investors bet the improving economy will lead the government to pull back on its stimulus measures. But stocks still managed their best year since 2003 as they recovered from the financial
Few analysts forecast this year's remarkable stock market rebound as major indexes were plunging to 12-year lows last March. Now, with most experts predicting the pace of stocks' gains will slow in 2010, there's reason to believe they will be correct
This is a Service Sector Economy, considerably different from the industrial economy of ages past. Read the live thread here http://www.godlikeproductions.com/forum1/message955759/pg1
Some banks were only too happy to take big bets from Goldman against the housing market. Merrill Lynch, the biggest player in the offshore market, remained bullish on the subprime mortgage market until late 2007 and plunged $369 million into a de
The use of credit-default swaps, or private, insurance-like contracts, exploded in recent years into a murky, $60 trillion worldwide market with little government scrutiny. Under such contracts, the buyers agree to pay premiums, as often as month
Goldman Sachs' chief spokesman, Lucas van Praag, issued the following statement in response to the latest installment in Greg Gordon's investigative series on the Wall Street firm, "Investors only could lose in Goldman's Caymans deals," published on
A top executive at American International Group Inc has resigned because of pay curbs imposed by the Obama Administration's pay czar, the insurer said. Anastasia Kelly, AIG's vice chairman for legal, human resources, corporate affairs and corporate c
2010 may be to appliance buyers what 2009 was to car buyers: time for government rebates. Modeled after the Cash for Clunkers program, a federal appliance rebate program offers cash to people buying clothes washers, refrigerators and other appliances
When financial titan Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that many of the deals were so risky that they could end up losi
To close out 2009, I decided to do something I bet no member of Congress has done -- actually read from cover to cover one of the pieces of sweeping legislation bouncing around Capitol Hill. Hunkering down by the fire, I snuggled up with H.R. 4173, t
After all the taxpayer heists and multimillion dollar bonuses, you still don't have your money in one of the TARP banks, do you?Entered By: Trouser Chili