Can you trust national averages? As bad as the jobless data you hear are, you have not been told the whole truth. If you think the terrible impact of America’s Great Recession is shown by an official unemployment rate of about 10 peRead Letter
The bank can immediately close your account without notice AND DEMAND YOU PAY THE ENTIRE BALANCE ON THE ACCOUNT IMMEDIATELY.
Yet this week once again saw a divergence between the Seasonally Adjustment and Non Seasonally Adjusted numbers, where NSA initial claims increased by 17,128, and SA unemployed went up by 24,534 to 5.6 million.
March 28, 2009 - Business Line: Are steel and cement leading a nascent recovery? If the performance of the steel and cement industries is any indication, a nascent recovery in economic activity seems under way.
There’s good news and bad news…and a lot of news in between. Consumers spent a little more than was expected of them. And manufacturing did a little better than expected too.
According to the government, Fort Knox contains about 147 million troy ounces of gold. The government has a total of 248 million troy ounces of gold, mostly in bars that are 400 troy ounces each. Most of the gold in Fort Knox came from melting of the
As an old friend of mine used to say, "don't buy anything big".
Notably, over 10% of total CMBS exposure in the states of Florida, Arizona, Nevada and Michigan are delinquent, with the Phoenix, AZ and Las Vegas, NV MSAs accounting for the top 2 by delinquency exposure at (14% and 14.5% of the MSAs).
ADP's employment report showed 20,000 jobs lost in February, which was in-line with analyst expectations. Thing is, they revised down their January number by a huge margin -- to -60,000 from -22,000.
Jack Gregson (Economic Columnist for FreedomsPhoenix) joins Ernest in Studio to share some of his concerns about new economic threats from the Government in general and the Obama Administration in particular.
Suffering from terrible economic times, more Americans are switching from spending to saving. High unemployment and lower incomes drive saving. But higher rates of saving that keep consumer spending low means that economic recovery remains stalled.
Government also struggles with money, but the struggle centers on how to get more of your money into government coffers. Rather than expanding the Federal budget in the face of economic downturn, we should be focusing on eliminating waste and being
Next think about what the massive wave of boomer retirements might do to boomer spending habits and future tax revenue.
Peter Schiff introduces himself to the Easton, CT Republican Town Committee on 2-25-10. see video
There is every reason for states to panic. Expect nothing less than panic.
That is what happens when we elected to go Japanese rather than Swedish on the financial sector — We saved the Banks, but sacrificed the Banking System.
Currently, 5.6 million people are accessing one of the federal extensions (34-53 weeks of Emergency Unemployment Compensation; 13-20 weeks of Extended Benefits, a program normally funded 50 percent by the states).
Warren said that half of commercial real estate mortgages will be underwater by the beginning of 2011. A fifth of residential mortgages are underwater now, she said.
There have been numerous reports about the sharp decline in bank lending since the beginning of the financial crisis. The War Street Journal, for example, on Wednesday reported in an article entitled "Lending Falls at Epic Pace" that last year's
"Short selling restrictions are a great indicator of imminent market crashes. The biggest market declines in history all happened shortly after short selling restrictions were introduced."
Mr Dimon told investors at the Wall Street bank's annual meeting that "there could be contagion" if a state the size of California, the biggest of the United States, had problems making debt repayments.
Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year. The rescue of Fannie Mae and Freddie Mac is turning out to be
Isn't that nice? So AIG insists that we trust them, and in addition, that everyone else trust them, as to the precise composition of these "assets", their performance, and who is on the other side of the transaction. Oh, it gets better.
On Thursday, President Obama used an executive order to create a debt commission. The commission will be charged with “taking on the impossible” and designing a plan to reduce the federal deficit. To lead the commission Obama chose former Sen. Alan
Vice President Joe Biden on Friday proposed new rules to help protect U.S. workers' retirement savings as part of a broader government effort to bolster the finances of middle class voters.
Just take a look at that happy talk. There is every reason to think this may be the start of a double-dip recession. All we have seen is inventory replenishment, government spending, and various stimulus measures like cash-for-clunkers...
This is how it all starts. One person inspires another to act. Please consider the following Email from a reader in Phoenix. Won't Be Bullied In Phoenix Alan who lives in Phoenix was inspired too. Alan Writes ...
In the week ending Feb. 20, the advance figure for seasonally adjusted initial claims was 496,000, an increase of 22,000 from the previous week's revised figure of 474,000.
While bank bailouts fatten Wall Street, states continue to battle the credit crisis. In the search for innovative solutions, some political candidates are proposing that states generate their own credit by setting up their own banks.
Two events took place last week that would have been inconceivable a year ago. Ron Paul won CPAC's straw poll for 2012. And the president of the Fed of Philly gave a speech hostile to Federal Reserve policy.