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On 11 occasions, similarly rapid advances have been followed by notable corrections, including the collapses that followed the 1929 and dot-com era peaks, as well as the 1987 crash.
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired
That’s 4.5 million homes, and with four people to a household that is eighteen million people. Eighteen million men, women and children put out into the road people who must scramble to find shelter and scramble to find...
The California tent slum depicted in the BBC report is quite different, because they are not migrant workers, so much as locals who have lost their homes. It is hard to tell if the newly dispossessed are all the victims of the subprime market.
I've been saying since the start of this cock-and-bull game being played by the media that there is no real recovery happening in the economy. I can't find it anywhere - I find some evidence of a leveling off of the declines, but that's not the same
The number of homeless senior citizens will likely soar by one third over the next decade as the US population ages, a report by the National Alliance to End Homelessness warned Monday.
California, New York and other states are showing many of the same signs of debt overload that recently took Greece to the brink — budgets that will not balance, accounting that masks debt, the use of derivatives to plug holes, and armies of retired
They are merely preparing for the massive tax hikes which will soon hit them all, as the administration realizes that it must tax the crap out of the S&P companies that have reaped the benefits of the 80% S&P rally.
The Dow was up 9 points on Friday…following a week of big news. Congress passed a bill permitting the US government to take over the health sector…about 17% of US GDP. Let’s see.
With passage of last week’s bill, the American people are now the unhappy recipients of Washington’s disastrous prescription for healthcare “reform.” Congressional leaders relied on highly dubious budget predictions, faulty market assumptions, and
You're sure to profit from the Austrian perspective on the consequences of exploding U.S. government debt, just as Austrian analysis helped forewarn about the mortgage meltdown.
The American Trucking Associations’ advance seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 0.5 percent in February, following a revised 1.9 percent increase in January [revised down from 3.1%].
About half of the small to midsize retail shopping centers in metro Phoenix are in financial trouble, according to Marcus & Millichap’s local office.
The U.S. Department of Energy admits that “a chance exists that we may experience a decline” of world liquid fuels production between 2011 and 2015 “if the investment is not there”, according to an exclusive interview with Glen Sweetnam, main officia
This graph shows the number of banks on the unofficial list. The number has grown by almost 76% since early August 2009 - even with all the bank failures (failures are removed from the list).
The smell of pot hung heavy in the air as men with dreadlocks and gray beards contemplated a nightmarish possibility in this legendary region of outlaw marijuana growers: legal weed.
Nassim Taleb explains the banking system in the second video. He makes the point that banks "eat like chickens, but go to the bathroom like elephants".
Twenty-seven states recorded over-the-month unemployment rate increases, 7 states and the District of Columbia registered rate decreases, and 16 states had no rate change, the U.S. Bureau of Labor Statistics reported today
Personal income in 42 states fell in 2009, the Commerce Department said Thursday. Nevada's 4.8% plunge was the steepest, as construction and tourism industries took a beating. Also hit hard: Wyoming, where incomes fell 3.9%.
One of the nation's largest labor unions, the Service Employees International Union, is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the United
One of the nation's largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new "retirement system" for the
The Wall Street Journal ran an editorial last August pointing out that the American people are just about the only ones fooled by the government's use of off-balance sheet, SIV-type accounting to hide the debts of Fannie, Freddie, Social Security an
Are You Part of the Remnant? - Advice from the Sage of Singapore - Hipsters on Food Stamps - My Inflation Nightmare - The Great British Gold Robbery -
Agorism is a political philosophy that holds as its ultimate goal bringing about a society in which all "relations between people are voluntary exchanges – a free market." The term comes from the Greek word "agora," referring to an open place for as
Facing resistance from the City Council over his renewable-energy plans, Los Angeles Mayor Antonio Villaraigosa has warned that any attempt to overturn higher electricity rates approved last week by the Department of Water and Power board would throw
Rickards builds a foundation that the financial sector has grown to the grotesque. He makes a grand alert that in this dynamically complex system, the size of the maximum potential catastrophe is exponentially greater than ever. He calls it inescapab
Depressions are a thing of the past and housing always goes up.
New home sales drop to a record low adjusted annual rate of 308K. All of the government's housing stabilizing measures are now a disaster, as existing home sales inventory surges to nearly 9 months, not counting the shadow inventory, which is more th
Why isn't Dodd's package going to be a financial panacea? Let me count the ways. 1 Bet on bureaucracy. As I read through the summary and browsed the text of the bill itself, it became painfully obvious that Dodd's bill is long on new b
Dealbreaker subsequently published one report of an inspector general investigation into an SEC regional supervisor who viewed transvestite porn at work as stress relief.
