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Opinion •
Global
As you wrote recently in The Wall Street Journal, you want the federal government to reinstate the estate tax and plunder peons like me. Like your fellow Democrats, you justify the expropriation with platitudes about fairness and about the USA being
News Link •
Global
In a normal economy that isn’t run by a bunch of criminals, we should expect to see price deflation as malinvestment is wiped out. Since our money is based on debt, as debt is reduced though defaults and write-downs, the monetary base should...
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Global
Should he and the republicans be unable to find a compromise and all tax cuts expire, the impact to the economy could be so vast that America's breezy depression will become a full blown hurricane, possibly worse than anything the nation has ever...
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Is this the change that Barack Obama promised America?
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Prepare To Be Betrayed, Lew Rockwell on the Tea Party -
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We cannot export our wage deflation to China, because it winds up reflecting here and destroys the capability for Americans to earn a decent wage. At the same time despite claims of "zero inflation" food, energy and other essentials continue...
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Global
For the economy, this slow process of muddle along championed by Summers and Geithner will ensure that Barack Obama becomes the Herbert Hoover of the Democratic Party.
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The latest weekly ABC Consumer Comfort Index poll, which incidentally dropped from -43 to -46, just inches away from the 2010 lows, but more importantly, just inches away from the lows seen throughout the entire depression...
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Global
This is a classic "death spiral" situation and equity valuations are in a severe bubble as a consequence of all the government "cheese", despite "appearing" to be "cheap."
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A total of 27 states reported higher unemployment rates in August, nearly double the 14 that saw increases in July, the Labor Department said in its monthly report on state unemployment Tuesday.
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Global
How bad is the nation's debt? The official number -- $13.4 trillion -- is frightening enough, the actual figure is much, much higher. The government pretends certain obligations and expenditures don't exist. We really owe closer to $60 trillion,
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Global
if the 2010 contraction we are now monitoring in consumer demand for discretionary durable goods scales to the full economy as faithfully as the "Great Recession" did, the second dip will, at minimum, be 33% more painful than the first dip in 2008...
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Global
Well, the National Bureau of Economic Research (NBER) made it official yesterday, and told us what Statistics Canada apparently knew back in April — the recession ended in mid-2009. The equity market rejoiced, which itself is amusing...
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“Hit the economy with enough misery and enough disruption, destroy the currency, and God knows what happens,” Munger said. “So I think when you have troubles like that you shouldn’t be bitching about a little bailout. You should have been thinking...
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Marshall Vest, a University of Arizona economist, said that in April he determined the national recession ended in June 2009. He contends that the recession in Arizona ended around the end of 2009 or the beginning of 2010...
Feature Article •
Global
The recession indeed ended. The depression is just beginning
News Link •
Global
Corporate insiders bought $1.4MM in shares in a whopping 7 different companies. This was just marginally offset by sales of $441MM in 98 different companies, a ratio of 290 to 1 of stock notional sold to bought.
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Commercial real estate prices (as measured by this index) fell 7% combined in June and July. The index is now down 43.2% from the peak in October 2007.
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Global
Know How To Start a Fire Without Matches? - Fat Doesn't Make You Fat, Fructose Does - The Feds Have Driven Us into the Ditch - The $6 Trillion 401K Grab - You're Being Robbed by Banksters - We Can't Afford This Government!
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JPMorgan Brings Foreclosure Case In Mortgage In Which It Was Just A Servicer, Court Finds Bank Committed Fraud
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Brian Sack has just injected a record for QE Lite $5.2 billion in stock, in order to complete all the elements of today's orchestrated Obama Town Hall meeting, during which the president is now fully expected to announce that he...
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Global
Well, brace yourself for a wild season. The Pequod is going down and the crazed harpooners are looking to slaughter everyone on board. Captain Ahab is down below the quarterdeck brooding on the mysteries of the cosmos...
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The NBER has finally announced the most worthless and overdue piece of data, namely that somehow, miraculously, the US recession that started in December of 2007 ended in June of 2009.
News Link •
Global
The recession ended in June 2009, making it the longest downturn since World War Two, the National Bureau of Economic Research said. They chose that month based on data including gross domestic product, employment and personal income.
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Global
Inside the great investment houses on Wall Street, business has taken a surprising turn — downward. Even after taxpayer bailouts restored bankers’ profits and pay, the great Wall Street money machine is decelerating.
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Within weeks, many Republicans and Democrats were expressing opposition to ideas that had won support in the past, such as tax cuts or broader economic stimulus, and voters were signaling alarm over the debt in national polls. Adding to the nation
News Link •
Global
This is a politically dangerous predicament because the reality is we are on the cusp of an imminent and significant collapse in the standard of living for most Americans.
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Sometimes, the simplest solutions are the ones least likely to be considered by Big Government.
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People across the country tightening their belts in order to pay down their mortgages and credit-card balances. A closer look, though, suggests a different picture: Some are defaulting, while the rest aren’t making much of a dent in their debts...
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American consumers do not expect to be feeling any more confident in six months' time, a widely-watched index revealed today, underlining the hurdles facing a recovery in the world's biggest economy.
