Despite signs of recent progress, "there's no possibility to restore 8 million jobs lost in the Great Recession," a notably candid Vice President Joe Biden said Monday. Friday's jobs report is expected to show overall payrolls declined by 115,000...
Reversing its oft-repeated position that it was acting only on behalf of its clients in its exotic dealings with the American International Group, Goldman Sachs now says that it also used its own money to make secret wagers against the U.S. housing m
Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
Last year, Dan Alpert, described the huge stock market rally that followed the March lows as the "greatest sucker's rally in history." He also produced a fascinating series of news clippings from early 1930, a few months after the historic market cr
In this case, a spendthrift Congress coupled with loose monetary policy at the Fed, effectively encouraged housing and other speculation. The depression we are in now is a result of massively failed policy. The same policy cannot possibly...
The bond market is telling a very important story here and it is one of a deflationary depression. We may not agree with Paul Krugman’s cure of solving a credit collapse by trying to create even more credit, but his diagnosis...
Top flight technician Mary Ann Bartels (BofA/ML) comments on the one-year anniversary of the Golden Cross, and the “Dark Cross” — its evil twin — that is now upon us:
Stabilize public debts by 2016? By then, the US and other major economies will have more government debt than GDP. It is bound to be too late for many of them.
Stocks extended their decline on Tuesday, with the S&P 500 down more than 3 percent, after data showed U.S. consumer confidence plunged in June and on fresh concerns over euro-zone fiscal problems.
Are stocks worth buying today? Rob Bennett says, "No" as the short reply. His longer answer is in today's Investing: The New Rules.
Some random headlines will tell readers about where the U.S. economy is headed--more so than a dozen Joe Bidens preaching the Recovery Summer gospel.
The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.
The Conference Board's consumer confidence index for June dropped sharply to 52.9, which is a horrible underperformance of expectations given that consensus had forecast a reading of 62.
Yet another smackdown on MSNBC by the inimitable Rick Santelli of all that is fiat, and its henchmen. "Go read some Austrian economist instead of the funny pages." Santelli tells Liesman, to which the response is "I am ready to talk about Fred Hayek,
Just looked at gold, it plummeted $20 in two days, but today the market is down 2-3% across the boards in little over two hours after opening.
Each time the day of reckoning is put off, the bigger the price down the road. Thus, we should all be fearing more Keynesian and Monetarist attempts to forestall the inevitable collapse.
The latest from the G20 meeting in Toronto. As you recall, the meeting was billed as a showdown between the Germans and the Americans…that is, between the deficit cutters and the big spenders…
On an aggregate basis, 81% of all loans in the state are ‘underwater’, and the average mark-to-market loan-to-value ratio of Florida loans is 138%. ‘Nearly 40% of all Florida borrowers owe more than 150% of the value of their homes,’ said Slump.
This fiscal year will be a bloodbath for many states and Arizona tops the list of cutters. Arizona -- 35% Cuts FY2011 shortfall: $3.1 billion % of FY2010 budget: 35.3% Previous cuts: $5.1 billion in '10; $3.7 billion in '09
Earth to President Obama: there isn't going to be a next time. This time was enough to git 'er done. Wall Street - in particular the biggest "banks" - packaged up and sold enough swindles to unwind 2500 years of western civilization.
The stock guru's top pupil, baseball star Lenny Dykstra, was secretly paid to plug stocks on TheStreet.com and give access to Cramer, reveals Randall Lane in his new book, The Zeroes.
We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted...
Forty-six states face budget shortfalls that add up to $112 billion for the fiscal year ending next June, according to the Center on Budget and Policy Priorities, a Washington research institution. State spending is 12 percent of U.S. GDP.
“They’re paying all these boats to run around like headless chickens,” Taylor said, as reporters gathered to hear his assessment of the Sound.
In the case of a hurricane hitting the 250-mile wide slick and pushing it over sand dunes and into beach towns, residents fear they’ll face not only mass evacuations, but potential permanent relocation.
There are scores of hard-working well-meaning Americans who base their decisions on what they think is a neutral news source. What they don’t realize is that the Post, as well as most US economists, are merely part of a propaganda machine...
Employment fell in June for the first time this year, reflecting a drop in federal census workers as the decennial population count began to wind down, economists said before a report this week.
So we're stuck with half a trillion dollars of unfunded promises to California's public sector workers, thanks to forecast assumptions so bogus that, rather than merely 'bad' forecasts, they border on being plain lies.
Weather forecasters had earlier said the storm by next week could head for the site of the huge oil slick in the Gulf of Mexico unleashed by the April 20 explosion of the BP-leased Deepwater Horizon rig.
The truth of the matter is that we are nowhere near the recovery agencies like the Federal Reserve told us we were at back in April. Retail sales are falling, the housing market isn't even close to being fully recovered...