The stark reality of the economic downturn is reflected in court statistics showing U.S. bankruptcy filings rose 20 percent from June 2009 to June 2010.
To put it into perspective, single-family starts has been essentially range-bound since the end of 2008, languishing near record lows— even after all the government stimulus.
The Administrative Office of the U.S. Courts reports that personal bankruptcy filings for the year ended June 30, 2010 surged to a five year high, hitting 1.57 million, a 20% increase from the prior year.
America's baby boomers—those born between 1946 and 1964—face a problem that could weigh on the economy for years to come: The longer it takes for the economy to recover, the less money they'll have to spend in retirement.
Farrell asks logically: "Hope? What's that? Good news about markets? You buy, you sell, you hope? Is "hope" America's last market strategy?"
The Dollar Index has fallen for the 10th week in a row, worrying investors and economist all over the world. The data suggests US recovery efforts have yet to set a firm foundation in the worlds largest economy. What does this mean? It means the US i
#1 His basic gist on stocks: Given my outlook on the world, I don't know how you can be long stocks. #2 Japan is toast due to their massive debt and changing demographics. For a long time, Japan has been self-funding, but that's coming to an end.
Will their plan work? I think not, but I’m an optimist (no, really). The pursuit of total control and total power seems rather infantile to me, be it on an impressively psychotic level. Although, if we are made to forget who the real enemy is, then..
Bottom line: The economy in 2008-09 was prevented from properly re-adjusting from previous Federal Reserve money printing induced distortions in the economy.On a short-term basis the government sought to prop up parts of the distorted...
Even the criminals have fallen on hard times in America's poorest city as the long-term unemployed struggle to keep a grasp on normality
Banks will get the biggest benefit from an Obama administration housing program designed to help unemployed homeowners escape foreclosure.
How would you like to begin a peaceful, legitimate political action which could roll back the last 100 years of government growth and national debt along with the hated federal income tax and the Fed?
The U.S. government is going to war with pay-for education companies, targeting their business models due to low repayment rates on government loans.
Just a couple of charts from the St. Louis Fed to indicate what US banks are doing. First: holdings of government securities continue to go on a rocket ride.
The hyperinflationary depression that many western countries, including the US and the UK, will experience is likely to mark the end of an era that has lasted over 200 years since the industrial revolution.
Companies issued risky "junk" bonds at a record clip, taking advantage of keen investor appetite for returns amid declining interest rates and tepid stock markets. The borrowing binge comes as the Federal Reserve keeps interest rates near zero
If the United States is not kaput it is certainly withering away even as a rich upper class enjoys all the things that money buys. There is massive, widespread economic pain inflicting a huge fraction of Americans whRead Letter
The American herd has gone mad. A few people have regained their senses, but the vast majority still exhibits the behavior of sheep being led to slaughter. The ruling oligarchs have utter contempt for the average American, but they fear the masses.
If you are looking for a succinct outline of where the economy stands, then watch David Rosenberg for 2 1/2 minutes starting at 5:33.
But this is a different story. To get back to deregulation, nothing has worked for the consumer since deregulation. Deregulation permitted corporations to impose their c
Using the above logic, it would signify that, unlike Buffett, Gross is now more primed for deflation than ever. In the great inflation-deflation debate, this will be the primetime heavyweight cagematch to watch.
We're beginning to see the data break. Some unusual factors have been at work. I expect an accelerating pace of downturn in the next couple of months. The numbers will turn sharply worse.
The fact of the matter is that the US economy, on a structural basis, is broken. Starting in the early ‘70s, we outsourced our manufacturing and began shifting to a services economy. We also outsourced our wealth to Asia, OPEC, and Wall Street.
Florida is ground zero for Baby Boomer demographics. With 600 seniors for every 1,000 workers now, and the number trending inexorably higher, soon every employed person in the state will essentially have to adopt one senior to care for out of his...
Stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs. In a thinly traded session, indexes posted their fourth day of losses though selling p
Wal-Mart, who has for years touted their prowess at lowering prices, is now doing the opposite. They have raised prices by nearly 6% on average over the past 6 weeks, with some startling individual price hikes.
Deficit spending, which has generated smaller and smaller increases in GDP over time, is now generating a negative impact on GDP due to the costs of servicing the debt.
Judge Andrew Napolitano has Ron Paul and Lew Rockwell on his FOX network show to discuss the federal reserve and our economy, and undeclared war's effect on the economy.
The stock market took a tumble yesterday. The Dow fell 265 points after investors had a chance to ruminate about the Fed’s latest action. It wasn’t what the Fed did or said that discouraged investors. It was what it didn’t say and what it didn’t do.
We're in the early stages of a depression now. It's going to be a horrific experience for average Americans who are going to watch their standard of living plunge. The cost of living is going to escalate dramatically.