The message is straightforward: They're in no position to be raising cash when the oil spill is hitting the state's beaches, threatening tourism, and hammering business
It's the worst of times. America is plunging back into Depression. Only one out of every two Americans of working age has a job. Forty years ago that would have been okay. Dad went to the factory. Mom stayed at home to mind the kids.
In June, 29% of small business owners said they believe the overall economy is getting better, falling from 35% in May. Meanwhile, 51% said the economy is getting worse, steady from the previous month, and 16% see the economy as the same...
PROVIDENCE, R.I. — It was a finely honed machine, this United States Census team, and it had a good run. But in the coming days and weeks, many of its members will experience the pain of unemployment — once again.
Figures provided by FICO Inc. show that 25.5 percent of consumers — nearly 43.4 million people — now have a credit score of 599 or below, marking them as poor risks for lenders. It's unlikely they will be able to get credit cards...
“There is a cliff we are racing toward — it’s huge,” said Richard Barwell, an economist at Royal Bank of Scotland and formerly a senior economist at the Bank of England, Britain’s central bank. “No one seems to be talking about it that much.”
The heads of President Obama's national debt commission painted a gloomy picture as the United States struggles to get its spending under control. Curtailing popular tax breaks, such as the home mortgage deduction, and instituting a financial trigger
Mike Prokosch is among the organizers of the 25% Solution campaign in Massachusetts, which aims to cut a quarter, or about $250 billion, from the Pentagon and other military agencies and institutions. The campaign wants to redirect this money to soci
That's a 17 percent drop in an industry that seemed impervious to the weakening economy just a few years ago. The total haul of $965.5 million was the lowest for the first half of the year since 2005 when gross revenue was $730.9 million.
I have a vending business here in Florida. I service manufacturing and many general businesses. All are laying off workers. I have machines that were taking in 100.00 plus dollars a week that are now doing only 5.00 per week.
#50) In 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined. #49) It is being projected that the U.S. government will have a budget deficit of 1.6 trillion dollars in 2010.
The same-store sales gainers benefited by the general reduction in store locations. Essentially, survivorship bias is skewing the numbers. If somehow you could take into account all the locations that had been shuttered...
Take cover when you hear a political leader talking about economic affairs. You can bet a bad decision is incoming.
Most Americans are too busy or distracted to realize the world economy now sits on an unprecedented abyss.
"The optimism out there is rather insane," he says. There’s only a 15-20% chance of the market rallying, Mish tells guest host and Business Insider deputy editor Joseph Weisenthal. "It's more likely we go down there and test the March lows...
Florida's Atlantic Coast: “I’m just picking up the pieces and I can’t believe how big they’re coming in, and it’s all over the beach,” a beachgoer said on Tuesday.
The US has a stay of execution while the European crisis unfolds, but at some point the nasty fiscal arithmetic will get everyone, including the U.S… Treasuries are a safe haven the way Pearl Harbor was a safe haven in 1941. It’s safe until it’s not
Former Federal Reserve Chairman Alan Greenspan said the U.S. economy may be undergoing what he called a “pause,” and that he can’t rule out the possibility of a so- called double-dip recession.
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The ECRI Leading Indicators just can't stop falling. From a revised annualized -7.6% drop last week, this week the index dropped to a fresh low of -8.3%. Should be sufficient for another major leg higher in stocks.
Three months ago, everyone was jubilant: The economy was headed for a v-shaped recovery, job growth was kicking in, and consumers were about to start spending, spending, spending again.
“I’ve never seen the wealthy hit like this before,” Mr. [Ken] Lowman [a real estate agent in Las Vegas] said. “They made their plans based on the best of all possible scenarios — that their incomes would continue to grow, that real estate would never
"It's a bad sign," said Susan Woodward, an economist who tracks small business employment for Intuit. "Small businesses hire first — and they're losing their steam."
Consumer credit has fallen an unprecedented 7 consecutive quarters. Moreover, credit is poised to plunge further as consumer spending plans are falling through the floor.
The balance between spending to stimulate the economy and putting budgets in order has vexed countries around the world as the recovery has looked more and more precarious.
Austrian theory acknowledges both the “seen” and the “unseen” effects of government policy, while Keynesian theory ignores the unseen in the pursuit of managing this thing we call “GDP” at all costs.
The biggest hit was, as usual, experienced by revolving credit accounts, which fell by a 10.5 annualized rate to $830.8 billion, from $838.2 billion in April, and just north of $910 billion a year earlier. The bottom line is that consumers retrench..
Hmmm… “Five states had to be estimated… including California?” That’s interesting how a real number increase of 22,560 turns into a seasonally adjusted decrease. The week ending July 3 was a full week. It will be interesting to see how they manipulat
A day of reckoning is rapidly approaching.
The bigger picture is that the U.S. economy is more over-leveraged than it ever has been before, and we are caught in a debt spiral that is basically impossible to unwind.