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The poll shows a "significant uptick" since last July in the percentage of Americans blaming Obama at least a moderate amount (from 32% to 50%), but a decrease, however slight, for George W. Bush (from 80% to 75%).
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Legendary investor Jim Rogers gives his analysis on currency markets, inflation, and commodities, and provides solutions to the economic problems in the US.
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The big story in the March PPI was wholesale food prices, which rose 2.4%, matching the biggest gain in 26 years. Prices of fresh and dried vegetables soared 49.3%, the most in 16 years.
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Is Goldman Sachs a breeding ground for speculative booms and busts that have harmed America, as critics assert? Or does the work of Goldman Sachs create a vital foundation for economic growth?
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Bill Black's eye-popping opening statement at House Financial Services hearing on Lehman Bros. failure.
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Economy - Economics USA
Host:
Ernest Hancock
Mike Shedlock is a registered investment advisor rep. for SitkaPacific Capital Mangmt. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction. (Issue: Goldman Sachs)
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"What I object to the current government intervention in so-called 'solving the crisis', (is that) they haven't solved anything. They've just postponed it."
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However, outstanding consumer credit in the US contracted another $11.5 billion in February, marking the twelfth decline in 13 months and demonstrating that the household sector is still undertaking balance sheet adjustments.
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Michigan, which has an unemployment rate of 14 percent, has been particularly hard hit by the economic downturn. Virg Bernero, mayor of Lansing, the state’s capital, and a leading Democratic candidate for governor, proposes to relieve the state’s eco
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The truth, as Richard Koo points out, is that were the FASB to show the real sad state of affairs, the two core industries in the US - finance and real estate, would be bankrupt.
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The truth, as Richard Koo points out, is that were the FASB to show the real sad state of affairs, the two core industries in the US - finance and real estate, would be bankrupt.
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President Obama and congressional leaders vowed tough budget discipline when they approved a "pay as you go" requirement, but they've avoided paying for major programs twice. They've also let the deadline for producing a budget outline pass
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Heavily indebted rich countries may need to weaken their currencies to promote exports because reducing government debt will probably slow domestic growth, an IMF official said on Wednesday.
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The Russians have been out there saying they’re buying gold, Canadian bonds, and diversifying their positions. Well, here they are doing it. At some point, enough people around the world will say they don’t want to be in dollars anymore...
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... their usual sources of revenue — state money and local property taxes — have been hit hard by the recession. In addition, federal stimulus money earmarked for education has been mostly used up this year.
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The April 19 Consumer Comfort Index number dropped back to -50, a 2010 low, just 4 points from its all-time low in 24 years of weekly polls, -54 in January 2009 and December 2008. 92% of those polled said the national economy’s in bad shape.
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A majority now says that someone in their household has been without a job or looking for work (54%); just 39% said this in February 2009.
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In 2008 distressed sales were only 4% of all sales, in 2009 nearly 20% of all the repeat sales transaction were classified as distressed. In February 2010, the percent of distressed sales jumped to a record 32%.
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Now, these obscure and largely unregulated securities - more than $600 trillion of which are tucked into investors' portfolios, according to the Treasury Department - are at the center of the fight over financial reform led by the Obama administratio
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The weekly ECRI leading economic indicator (see second chart below) has also receded discernibly from the recent peak and the smoothed index is down to its lowest level since last July.
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As the DOT noted, miles driven in February 2010 were down -2.9% compared to February 2009. If vehicle miles continues to decline on a year-over-year basis, it might suggest high gasoline prices are starting to impact the economy.
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Unfortunately, the U.S. economy is going to get a whole lot worse, and very few of the politicians in Washington have the guts to tell the American people the truth.
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University of Arizona economist Marshall Vest says the recession officially ended in Arizona several months ago, although it will be months before a recovery is evident and years to repair all the damage that's been done.
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"Who are they trying to kid?" Bittner says. "Are they trying to make you think it's better so you'll go out and spend?" Well, yes. The nation's fragile consumer confidence, which sank to a record low about a year ago, could keep the fledgling economi
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Busy weekend for the boys:
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Payroll employment made its first substantial contribution to the coincident economic index, suggesting a recovery that is beginning to gain traction."
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Goldman Sachs is expected to earmark about $5B for staff pay and bonuses this week, days after being accused of securities fraud by the US regulators, fueling the controversy over bankers' rewards in the teeth of the financial crisis.
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More young people are living with their parents instead of moving out, postponing the creation of their own households. Meanwhile, more families are combining households for economic reasons, including the loss of a home due to foreclosure...
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The Employment Development Department estimates that about 100,000 Californians will have exhausted their benefits by this weekend.
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States’ personal income-tax revenue fell 7.1 percent in January and February from the same period in 2009, and there is a risk the slide will extend into this quarter...
