Hey, its Monday — and you know what THAT means: Let’s catch up with our old friends at the FDIC, and see who they’ve been wagging a finger at:
The basic gist is: The wealthy tend have a lot of flexibility in terms of when they realize their income, and so if they know that big tax hikes are coming down the road, they'll rush to realize income on various investments now, rather than later.
“I don’t want to scare anyone but I am considering investing in barbed wire and guns, things are not looking good and rates are heading higher,” he said.
U.S.’s $13 Trillion Debt Poised to Overtake GDP: Chart of Day By Garfield Reynolds and Wes Goodman June 4 (Bloomberg) -- President Barack Obama is poised to increase the U.S. debt to a level that exceeds the value of the nation’s annual economi
Surprisingly -- as Economix points out -- the biggest public sectors aren't in liberal states like California. They're in states like Kansas, where people often rail against big government.
An entire generation of youths is being trashed
The economy lost 226,000 jobs, while 493,000 people gave up even looking for a job. How does anyone, let alone the president, have the audacity to tell a nation its economy is getting stronger by the day while jobs are lost left, right and center?
By the time, a country has debt equal to 90% of annual economic output, you know the impact is going to start to really hurt. Prior to crossing the Reinhart-Rogoff Line, government debt will still be suffocating to the economy...
The simple addition of the unemployment rate to the inflation rate, as measured by CPI. Note that we have used the U-6 unemployment rate, since the more frequently used U-3 rate data series does not go back to 1900. Without the lies.
The simple addition of the unemployment rate to the inflation rate, as measured by CPI. Note that we have used the U-6 unemployment rate, since the more frequently used U-3 rate data series does not go back to 1900. Looks like 1934 again.
For whatever reason, despite enormous propaganda from across the news media, and I am talking blogs to MSM, the belief is that the Fed has pumped huge sums of money into the system since the financial crisis started, they have not done so.
I also said that if the government did what they've now done, the damage could easily be twice that bad, with a potential 40% decline in GDP in the cards
What really makes the current period stand out is the number of people (and percent) that have been unemployed for 27 weeks or more (red line). In the early '80s, the 27 weeks or more unemployed peaked at 2.9 million or 2.6% of the civilian labor...
What it looks like is that a lot of frustrated workers were sold on the idea that there was some kind of recovery underway, and then realized they'd been lied to.
So the question becomes, what happens when the stimulus goes away in the latter half of the year? Have we gotten the economy to the point where it can grow on its own? To answer that let's take a look at some leading indicators.
Illinois a microcosm of America
Illinois a microcosm of America
Stocks fell sharply today after the Labor Department said hiring remains weak and Hungary became the latest European country to report its economy is in crisis. The Dow Jones industrial average dropped nearly 250 points and fell below 10,000.
Our greed and our debt are literally eating our economy alive. Total government, corporate and personal debt has now reached 360 percent of GDP, which is far higher than it ever reached during the Great Depression era.
We could be headed for a world torn in opposite directions, as if quartered, by very different monetary phenomena. As the developed world keeps interest rates low, in a bid to deep deflationary forces at bay, they will in turn be keeping interest...
So much for that 700,000 expectation. At 431k, less 411k census, and 31k from temporary help services, it sure doesn't look good even without the 215k birth-death adjustment which only conspiracy theorists look at according to Mr. Liesman...
Local governments rely on the $2.8 trillion municipal bond market to raise money for construction projects and fund other budget items. The financial crisis and recession battered governments across the U.S. by cutting into tax collections...
The market is tanking, as the new job creation came in at just 430K, with only 40k or so jobs created in the private sector.
Payrolls rose by 431,000 last month, including a 411,000 jump in government hiring of temporary workers for the 2010 census, Labor Department figures in Washington showed today. Economists projected a 536,000 gain...
Results were particularly weak in the West, which may not bode well for the sector, according to Wall Street Strategies analyst Brian Sozzi.
"It is already ugly," said John Fareed, a partner at Fareed Zapala Koepke. "When it hits, it will be real and will position itself in the psyche of consumers who are getting ready to make vacation plans. It is going to have a huge impact...
That's what Maria Villacreses did when the economy put a hitch in her wedding plans: She used "time dollars" on everything from a wedding-day makeover to an elaborate seven-layer cake. In a modern twist on the ancient practice of barter, people like
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases totaled 40.2 million, up 21 percent from a year earlier and 1.2 percent more than in February, the Department of Agriculture said yesterday...
“Our members are experiencing unprecedented cancellations heading into their peak season, and this advertising campaign is critical to our economic survival,” said Carol Dover, president and CEO of the Florida Restaurant and Lodging...
An incredible simulation from the National Center for Atmospheric Research shows the oil slick getting caught in a loop current and wrapping around Florida and moving on to create a death cloud in the Atlantic.