The anger of wannabe consumers who no longer feel they have the wherewithal to feed that most important of American passions is what is fueling the widespread rage against elected officials. The Democrats, being the party in power, are the most popul
Past and current students carry a stunning $829 billion in student loan debt. The cost of a college education has far outpaced the rate of inflation.
Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists.
You mean to tell me that colleges have been getting a kickback on students going into debt on credit cards? So the deeper you go into debt and the more interest you pay, the more the college gets?
This is what happens when you have a gigantic debt pile weighing down your back. According to Gallup, consumer spending declined across the board in August.
• 61 percent of Americans "always or usually" live paycheck to paycheck, which was up from 49 percent in 2008 and 43 percent in 2007. • 66 percent of the income growth between 2001 and 2007 went to the top 1% of all Americans.
The other problem with these numbers is that in order to file for jobless benefits you must have had a job for a continual (and substantial) period of time - typically four quarters (one year) prior to being laid off. Therefore, "re-layoffs" don't..
Today's announcement by the BLS that it decided to flat out estimate nearly a third of all initial jobless claims (courtesy of several large outliers) due to a "clerical holiday" which resulted in a major beat to estimates, caught many off guard...
The BLS has announced that as a result of the Labor Day weekend, 9 states (among which the biggest one California) did not report initial claims data to the bean counters, so instead the government had to "estimate" what the data would have been...
We're in the early stages of a deepening depression to last years
Projected U.S. economic growth for the rest of this year and next was revised down for a third month in a row by a panel of about 50 economists. The latest Blue Chip Economic Indicators report on Thursday said the weaker outlook for second-half 20
This week’s proposals by the Obama administration to deal with the persistent economic crisis will be, as with previous plans that involved trillions of taxpayer dollars, little more than salt in the wounds.
Consumers have had enough of high interest rates on credit cards but its a case of one plastic for another. Bloomberg reports Cardholders Prefer Debit as Credit-Card Use Falls
September 7, 2010 by ppjg | Edit 09 06 10 Confiscation of Private Retirement Accounts By Patrick A. Heller on September 1st, 2010 “The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace
Bah to Obama's "jobs bill", it's time to pull out of the free trade agreements and bring our jobs back!
Last week, in the wake of another uptick in the official unemployment rate, the administration continued to claim that their economic policies were working, just not fast enough. This administration inherited an unemployment rate of 7.7% and
Global stocks rose to a four-week high and industrial metals rallied amid growing optimism about the prospects for economic growth. European bonds rebounded from three days of losses.
Even if the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the "critical list" are likely to go bust, according to renowned economist Nouriel Roubini of Ro
By Arnaud Mares | London - The sovereign debt crisis is not European: it is global. And it is not over. The European sovereign debt crisis of spring 2010 was a misnomer in more ways than one: there was not one crisis but two. And it will continue wel
Thanks to great presidents like Bush Sr., Clinton, Bush Jr and Obama American workers have been sold to the highest bidder.
The financial crisis that rocked the world in 2008 and still reverberates today was "due at least in part" to the Iraq war, which also made it more difficult for the government to react when economic problems happened, argue two prominent policy make
Turns out he is a banker. A hedge-funder formerly with Bear Stearns, Matt, 39, lost his last job some two years ago. He is a soft-spoken man who used to buy and sell companies, and today he has no qualms with the bread line. “There’s no stigma attach
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.2 percent from May, the U.S. Department of Agriculture said today in a statement on its website.
But the reason I won't short them is because the accounting is so bad it's not possible to get your arms around what's going on. Back in the mania I tended to avoid them because they were just financial black holes…
Starting from right now, however, as babyboomers go into retirement or start deligently (perhaps belatedly) saving for retirement, inflationary policy will cause much more pain than ever seen before.
The number of institutions has more than doubled since we started the list in early August 2009 - even with all the bank failures (failures are removed from the list). The number of assets is up 50 percent over the last year.
The bad news is that they accomplished this by essentially throwing trillions of dollars at the problem, and in particular a corrupt and oversized financialization industry, in order to bring the trend back to zero.
Ever get the feeling that the Bureau of Truth is not being completely truthful? Feel like the ADP is to the NFP like the ISM to the regional Fed Surveys, and as the surging Mfg ISM employment diffusion index is to the plunging Service ISM...
These numbers are approaching the dismal employment rates of the early 1980s, when the rate bottomed out at 57.1.
The ECRI Leading Indicator Index just came at -10.1%, a drop from last week's -9.9%, once again inflecting into double dip territory.