Efforts to cap a leaking oil well in the Gulf of Mexico suffered a major setback Saturday, after ice-like crystals clogged the inside of a massive dome meant to contain an 18-day-long spill.
But here's one slice that wasn't mixed. The number of long-term unemployed is shooting straight up with nary a green shoot in sight.
"Many people haven't woken up to the severity of the US fiscal crisis," Faber said by phone. "The only difference for the US from Greece is that it can print more money."
Try listening to this audio from the "epicenter of the meltdown." (MP3)
USDA estimates enrollment will average 40.5 million people this fiscal year, which ends Sept 30, at a cost of up to $59 billion. For fiscal 2011, average enrollment is forecast for 43.3 million people.
So, there is a massive buildup of public debt. And the lesson of history is that unless this buildup of sovereign debt is tackled eventually by raising taxes and controlling spending, then there are only two outcomes: default or high inflation.
Money flow is slowing during such a period, the money isn't out there to buy the government bonds that various jurisdictions want to issue . It is a situation where government gets squeezed from both sizes, less revenue and less ability to borrow.
It is one thing to make a legitimate profit on an investment. It is another thing entirely for the biggest financial institutions in the United States and our politicians to be making massive amounts of money off of the economic collapse of America.
Today, millions of Americans say that they believe that the United States is on the verge of a major economic collapse and will soon be entering another Great Depression. But only a small percentage of those same people are prepared for that to happ
It's starting over. The NASDAQ is what's really getting crushed, down over 3%. The Dow is moving around, but down over 211.
The short answer: We are now all cash. We have no positions long or short. We are actively looking for shorts.
If you had any doubt about what I have been talking about during this entire ramp job off 666 - that the so-called "bull market" was in fact not much more than a handful of institutions buying shares with free Fed money...
290,000 of which census was 66k and Birth Death was 188k. Hurray -the economy added a real 36k in jobs in April.
NEW YORK – The stock market had one of its most turbulent days in history as the Dow Jones industrials fell to a loss of almost 1,000 points in less than half an hour on fears that Greece's debt problems could halt the global economic recovery.
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The problems in Greece and the other PIIGS are in a certain sense the result of a lack of new money being printed, money which would inflate away the debt problems for the PIIGS. The Federal Reserve is simply not printing money...
The Dow fell 59 points yesterday. It looks to us as though the stock market is finally rolling over…it’s finally putting in a big top after a long, long bounce. But it could be just another temporary setback. We won’t know for a while. In the mea
Troubled US government-backed mortgage firm Freddie Mac on Wednesday asked for an additional 10.6 billion dollars from the Treasury Department to cover losses. Announcing a 6.7 billion dollar loss in the first quarter, Freddie Mac said it would ne
Stocks extended their plunge into a third day Thursday as investors succumbed to fears that Greece's debt problems would spread. The Dow Jones industrial average fell 354 points in afternoon trading. The Dow and broader indexes dropped more than 3%.
According to the data below sourced from CNBC, 15 companies have missed their same store sales expectations vs. 9 meeting or beating expectations.
Granted, there are no easy answers but something’s got to give if we want to avoid the obvious path towards the bankruptcy of many nations. Greece must be viewed as an important wake-up call. Mr. Obama...
Solving the California state budget crisis just got that much tougher. Estimated tax revenues came in nearly $3 billion less than expected wiping out a steady stream of months where things seemed to be improving at least on the revenue front.
What is not discussed in this recession is the working poor and middle class have taken on the burden of this financial calamity disproportionately. We are not all in this equally.
"This is a 3.5 percent decrease from the same quarter of last year but gaming operations are actively working their way back," said Mark Brnovich, director of the Arizona Department of Gaming.
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Gallup's Job Creation Index for April reveals significantly more hiring within the federal government than in the private sector.
The April filing total represented a 15 percent increase from April 2009 total. This is the 2nd highest month since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted.
"The new well, which is in 5,000 feet of water, is planned to intercept the existing well at 13,000 feet — about two miles — below the seabed. It will be used to inject cement to cap the one that is leaking."
This chart compares the stock prices of the two companies after each disaster. The chart is very telling!
In today's financial climate, damn conventional wisdom and full speed ahead. A big part of knowing when to hold 'em and when to fold 'em is realizing you can do either--or maybe something else.