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More telling perhaps for economic forecasts is that the longevity of the current contraction is somewhat rarer than its nominal severity. Our 183-day moving 'two consecutive quarters' growth index would place that 6-month span in the 4th percentile..
In other words, our bloated financial sector has been sucking the life-blood out of the U.S. economy for years, and recent decisions insure it will continue to feed off taxpayers, while the host economy struggles for life.
The US consumer is done (there are only so many iPads a bankrupt mortgage holder can buy), and no matter how fast the Dow hits 36,000, nothing will change this.
The West is only half the way through a 20-year secular downturn that will not end until the children of the US baby boomers begin to flex their financial muscle in about 10 years time, according to Robin Griffiths, a technical strategist at Cazenove
The latest Wells Fargo/Gallup small business survey is out and it's UGLY. In keeping with other indications that the state of small business is very bad, the survey indicates a level of pessimism about future results that's worse...
The stock market in the US was flat on Friday. Gold rose $13. China edged out Japan to become the world’s second largest economy. Bonds rose. And the dollar fell.
Raul Castro said Sunday that his government will scale back controls on small businesses, lay off unnecessary workers and allow more self-employment — significant steps in a country where the state dominates nearly every facet of the economy.
My timing is notoriously faulty, they say, but I can't ignore the sensation of being seasick-on-dry-land that tells me something awful is at hand. President Obama appears more and more Gorbachev-like to me, a well-intentioned functionary sailing...
Today, I wish to examine a column by Mr. Economic Brilliance Himself, Bob Herbert, who claims that American corporations have caused the current economic downturn to be worse because they are not hiring enough workers.
Many people view asset protection as the playground for the super rich. Some hear the words and cringe with fear. In reality, we should try to emulate the tools the super rich use to not only create wealth, but keep it as well. I mean honestly, do yo
The signals emanating from the global economic matrix that can be considered realistic, unbiased and leading indicate strongly that we’re edging closer to another brink of some sort. Nobody can see over the edge, but if the last cataract shot by our
What we are now witnessing are the early stages of the complete and total breakdown of the U.S. economic system. The U.S. government, state governments, local governments, businesses and American consumers have collectively piled up debt...
For more than a year, senior researcher Dr. Walter Ewing and research associate Seth Hoy analyzed and compiled data on every state in the US to track the powerful impact immigrants have on this country. The result: A recent study released by the Immi
Ascendancy of a financial-speculative elite which has pillaged trillions of dollars from savers, investors, mortgage carriers, consumers and the state, siphoning enormous resources from the productive economy into the hands of a parasitic elite...
Amusingly, several properties reported loss percentage of 100%, and in some cases the loss came as high as 132.4%, which would be quite hilarious to watch all those preaching the V-shaped recovery explain away.
If the Fed has difficulty explaining why banks are unwilling to lend to consumers when there is over $1 trillion in cash sitting and collecting dust, the problem gets even thornier when Bernanke has to defend 4 times this number.
This episode of fraud is still playing itself out now. And to fail to understand the depth and breadth of this madness is to place oneself in peril, and in the power of those who are twisting the Western economic and political system even now to...
Thanks to Al Franken and Chris Dodd, the Securities and Exchange Commission gets to hide what the hell they're doing (like watching kiddie porn);...Ron Paul seeks to change that.
Barry Ritholtz "I honestly have no idea what this means, but jeez, how is this for some cliff diving" --- "I think it means we are seeing the $2.5 trillion dollar drop in credit lines Meredith Whitney has been warning of for 9 months." Jack Gregson
Why does this matter? Now that NINJA loans are verbotten, this pretty much means that “one in four Americans won’t be able to borrow money to make a major purchase in the foreseeable future.”
The public relations campaign promoting the idea that the bank bailouts are done and successful, and that the US made money on this egregious abuse of public monies is patently false, and probably can be described as corporatist propaganda.
The list total finally pushes through the much anticipated 800 level and finishes the week at 808 with aggregate assets of $414.8 billion.
Nonetheless, we can say there has never been a WLI plunge in history of this depth and duration, nor any dip at all below -10 that has not been associated with a recession.
They will change the statement to signal that the balance sheet will remain expanded, and change policy around the MBS program to start reinvesting paydowns." Should the Fed telegraph further easing, expect stocks to surge at least another 10%
The fact that the market is so one sided in its quote stuffing patterns is sufficient reason to worry of a concerted effort to push stocks higher, initiated from the very top, and effected by not only the Primary Dealer community but by the end...
The U.S. financial system remains fragile and banks subjected to additional economic stress might need as much as $76 billion in capital, according to the results of International Monetary Fund stress tests.
The Commerce Department, in revisions issued Friday, estimates the economy shrank 2.6 percent last year -- the steepest drop since 1946. That's worse than the 2.4 percent decline originally estimated.
"The question here is really, with the Dow below 1,000, what kind of dollars – and especially what kind of dollar credits – will survive," Faber said. "It is safe to assume that almost all banks in the world, and almost all governments, will be bust.
Hank Paulson, the criminally inept Treasury Secretary who shoveled trillions of taxpayer dollars to insolvent banks, facilitated the grand theft of some near $20 billion dollars from AIG by Goldman Sachs , is attempting to change the narrative...
Apparently the "Great Recession" has been worse than our government has previously reported. And the recovery's brightest moment, Q4 2009, has been revised down from 5.6% to 5.0%. Similarly Q3 2009 dropped from 2.2% to 1.6%. And so on...
