Consumer sentiment and overall market optimism in the face of bad fundamental economic data in the US is discussed in this essay
(Publisher: My niece sent this to me. She had a very stressful Student Loan squabble with her school that eventually got resolved, but she thought you would benefit from the following information that she wishes she had during that time)
Some Arrived As Early As Friday Armed With Blankets Hoping To Get 1 Of 750 Applications For Elevator Industry Job
Propaganda and "confidence-building" are constantly substituted for reality. The problem, we are repeatedly told, is a "lack of confidence." Consumers' and corporations' accounts are bulging with idle trillions awaiting "renewed confidence" to gush..
Here are two articles showing how far some people are willing to go to push the idea that the economy is improving. The ABC Consumer Confidence survey has been very accurate, while the Conference Board Survey is in "Fantasy Land".
Bottom line: This recovery is going to stall in the second half of 2010 unless… But, Obama probably doesn’t get that. As for investors, Edwards says: The trend is your friend until it meets a bend, that trend is now the investor’s enemy.
The Chicago Tribune had an excellent set of charts this weekend in A Tsunami of Red Ink regarding US government debt and who owns it, and also a comparison of US debt to the national debt of other countries.
Crowd sourcing is the act of taking a job traditionally performed by an employee and outsoucring it to an undefined group of people on a project-by-project basis, in the form of an open call.
While the SEC is busy investigating Goldman Sachs, it might want to look into another Goldman-dominated fraud: computerized front running using high-frequency trading programs.
This sucker is going down because the train of bankruptcies underway has a remorseless self-reinforcing power to provoke more and more bankruptcies at every stop along the line as every promise to pay is welshed on.
Worse, in North America (that's here!) machinery sales were down 15% with dealer inventories half of year ago levels. That is, not only is heavy equipment not selling, dealers don't think it will be in the near future either.
“We helped to get you into office, and we got a good memory,” she says matter-of-factly to the elected officials outside the shot. “Come November, if you don’t back our program, we’ll get you out of office.’
Exactly how "fair" is it to the vast majority of borrowers, who make their payments on time and on the money, to allow bad borrowers to make consequence-free changes to their mortgages?
National League of Cities calculates that state and local governments will lay off as many as 1.5 million people between 2010 and 2011.
Vice President Joe Biden predicted Friday the U.S. economy would create 100,000 to 200,000 jobs next month, with a rise to 250,000 to 500,000 jobs per month soon afterward, according to a press pool report.
According to a new report based on U.S. Census Bureau data, only 26 percent of American teens between the ages of 16 and 19 had jobs in late 2009 which represents a record low since statistics began to be kept back in 1948.
Workers in the lowest income decile faced a Great Depression type unemployment rate of nearly 31% while those in the second lowest income decile had an unemployment rate slightly below 20% ....
‘Well, what if we created a ‘thing,’ which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?’” Watching the index fall is “a little like Frankenstein turning against his own inventor.”
At least 60% of state's 100 largest employers reduced, kept workforces the same last year.
Frustrated by the pace of the sale of GMAC's struggling mortgage company, Residential Capital, the US Treasury is considering sweeteners, including government-funded guarantees, in order to lure offers, sources have told The Post.
"The recession has hit them hard," says Jose Garcia, associate director of policy and research at Demos, based in New York. "It affects their income potential, their saving potential and their career-ladder potential."
Gallup's poll of employed Americans found that 21% think it is likely they will be laid off in the next year. Only 38% are confident they won't be laid off. Both indicators are at record levels and getting worse.
Economist and real-estate investor Elliott Pollack agrees with Vest that the state's economy has started growing. He expects that by the third quarter the state will start to see jobs increasing compared with the previous year.
New orders for manufactured durable goods in March decreased $2.2 billion or 1.3 percent to $176.7 billion, the U.S. Census Bureau announced today. This decrease followed three consecutive monthly increase...
Twice in the past 10 days, Obama has claimed his pledge applied only to income taxes. In his April 10 Weekly Radio Address, Obama said: “And one thing we have not done is raise income taxes on families making less than $250,000. That’s another promis
"The absence of fear in the current economy is discussed as a delusion brought on by the excessive touting of the Great Correction and economic recovery."
If you get the sense that a storm is swirling in the not too far off distance, you are correct. You have an edge, though, the people walking by you on the sidewalks for the most part don't have a clue. Cash is going to be king for awhile and then...
One of my old colleagues who is from another country described America to me with the following statement: “it’s like “Disneyland.” I never fully understood what he meant until the last couple of years.
It is already way to late to prevent a massive derivatives blowup of some sort. The only question is when that blowup happens. It could be next month or years from now.
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%).