ON AIR NOW
Click to Play
Bitcoin Cash: $ USD
The string of overshoots in estimates from the ISM Manufacturing Index to GDP to consumer sentiment indicates we are yet at another economic inflection point in which the economy is rolling over.
A number of economists, investors and financial experts have weighed in on the US debt crisis today, following Friday’s S&P downgrade, warning that economic meltdown is close.
A second recession, what many are calling the double-dip recession, could be on its way, economists warn. And should it come, it will probably be even more devastating than the previous period of economic woe.
That's not a coincidence.
California tends to lead the way for other US states, which in the past was mostly good. But now the Golden State is about to become a Third World country, complete with deteriorating public services and a permanent, volatile underclass.
The history of human behaviour tells us that, unless stopped, the powerful will enslave the weak and America is heading in that direction.
Laffer said the White House called him in the spring and asked him to speak to Obama’s former Council of Economic Advisors’ chairman Austen Goolsbee – and he had told him exactly the same thing. “Reaganomics would fix any economy that’s in the d
Pew came out with a new poll on Monday confirming what we all already knew: The American people think the last several weeks in Washington have been a disgrace.
China warned Wednesday that tortured efforts to raise the US limit on borrowing had failed to defuse Washington's "debt bomb", and signalled it would further diversify its holdings away from the dollar.
China, the largest foreign investor in U.S. government securities, joined Russia in criticizing American policy makers for failing to ensure borrowing is reined in after a stopgap deal to raise the nation’s debt limit.
The debt ceiling agreement that came over the weekend will raise the ceiling by $2.1 trillion – enough to get this issue off the political table until January 1, 2013, which was Obama's desire.
Speaking today in Baghdad, outgoing Joint Chiefs of Staff Chairman Admiral Michael Mullen reiterated his warnings that the national debt is the “biggest threat we have to our national security” because all that debt is getting in the way of increasin
Map has been updated to reflect data through April 2011.
The correlation between consumer confidence and recession might not hold this time — although that would be the first split for 40 plus years.
America's WTF (certainly not to be confused with Winning The Future) economy summarized in one easy chart.
U.S. stocks rallied, extending the biggest two-day advance for benchmark indexes since March 2009, as the largest increase in American retail sales in four months tempered concern economic growth is slowing.
Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.
The chart shows the correlation with sentiment and the consumer component of GDP which is about 70% of the economy and why I say the "recovery" is over.
One of the fascinating aspects of doing the media circuit is the feedback you get. This is especially the case when you drop a truth bomb on people that they are not ready to hear, certainly not accept.
Adjust for population growth and the growth drops to 94%. And when we adjust for both population growth and inflation, retail sales are up only 18.9% over the past two decades.
And how did all this that happen? As I've been repeatedly pointed out, it happened because we failed to force banks and other financial institutions to stop lying about asset valuations, putting a stop to the hiding of both risks and losses.
UMichigan consumer confidence just printed at 54.9, on expectations of 63.0. This is the lowest since May 1980. And what's worse, inflation expectations were unchanged. Looks like those high inflation expectations are starting to get anchored.
1. Arrogance – All of our lives we have been fed the lie that somehow we are better than everyone else. We believe this so much that we feel it is morally acceptable to stick our noses in everyone's business. We have 777+ military bases all over...
The United States isn’t merely double-dipping back into recession, but worse — it's in the early stages of a depression that will strangle the economy possibly for years to come, says Robert Prechter, president of Elliott Wave International.
An alternate housing option with mobility in mind.
"The large banks which dominate most of the lending in the U.S. are effectively zombie banks," she said. "You've got an expense structure that just doesn't match the revenue structure. So it's a classic issue of negative operating leverage.
Host:
Ernest Hancock
Stuart Vener - President of the Wilshire Holding Group, Inc. - Mortgage Rates On Historic Low / Ryan Mott - Iowa's Straw Poll - LOVEvolutionary activist since 2007
Host:
Ernest Hancock
Stuart Vener - President of the Wilshire Holding Group, Inc. - Mortgage Rates On Historic Low / Ryan Mott - Iowa's Straw Poll - LOVEvolutionary activist since 2007
Great chart from JPM (pre August sell off):
If you liked the past two weeks, you're going to love the next two years: welcome to the age of instability. As I explained yesterday, the quasi-religious belief in the stock market as a secure store of wealth has faded, and for good reason...
