And so the double dip confirmation resumes, with the Richmond Fed printing at -10, the lowest since June 2009, well below consensus of -5, a collapse from June's -1, and the lowest since June 2009.
What they don't admit to is that they're simply pyramiding debt upon debt, goaded on by a tax system that has encouraged profligacy, immaturity and a mathematically-inevitable economic collapse.
The thinking is that the boomers will divest themselves of stocks as they retire and eat into their savings. This is an old argument, but I still found it interesting.
If the Super Committee doesn't come up with the necessary cuts, discretionary spending gets cut across the board, but half of that or $500 billion over ten years will be cut from Defense, which would be a threat to national security.
The current decade not only starts with very rich valuations, but also comes at a time when peak earnings of boomers have passed. Those boomers are now heading into retirement and will need to draw down savings, not accumulate large houses...
The GOP doesn't care, the Democrats don't care, and you're going to get creamed.
S&P's President, Deven Sharma, is stepping down. It is written that "Mr. Sharma was leaving the firm to pursue other opportunities." So the Indian who brought the U.S. to its knees is paying the price. That happened quicker than expected.
According to the openly avowed Socialist Senator from Vermont, Bernie Sanders, the first time the Federal Reserve System has been officially audited by the Government Accounting Office and the results have been made public.
#1 According to a shocking AARP survey of Baby Boomers that are still in the workforce, 40 percent of them plan to work “until they drop”.
The aging of the U.S. baby boom generation may slow an already weak recovery as boomers sell stocks to pay for retirement, according to research released Monday from the San Francisco Federal Reserve Bank.
All week long we have been witnessing a breakdown in global markets, or perhaps better stated – general public confidence. Gee, why would that be, we wonder? Why is it that the general public is not so easily convinced that all will be okay?
This week we learned a few tricks for surviving a bad job, removed forgotten security tags from our clothing (without ruining our stuff), learned all about how to make the most of our routers, and more. Here's a look back.
Loss of confidence in the dollar is accelerating and it effectively sits now on what amounts to a trap door. US debt downgraded by S&P was a big story.
Financing The Revolution - Secure, private value transactions using digital cash
If it turns out that this is insider trading on material non-public information and BofA collapses - it is time for every American to cease working and go sit in Washington DC on the Mall - and refuse to leave until the FOMC, Treasury and Obama...
Citigroup and Bank of America were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest US banks and brokerage firms to their best year ever with $104 billion of profits. By 2008, the housing market’s collapse force
When the nearly 300 students of the Irene-Wakonda School District returned to school this week, they found a lot of old friends, teachers and familiar routines awaiting them. But one thing was missing: Friday classes.
Paul Krugman of Princeton University has come up with the ultimate solution to our fiscal problems: Space Aliens.
The U.S. Department of the Treasury issued a Final Rule making non-bank providers of pre-paid financial instruments subject to comprehensive Bank Secrecy Act (BSA) regulations similar to depository institutions.
Notice that with Rosie’s combined index where it is today, we are either at the beginning of a recession or already in one. And the Philly Fed Index is consistent with a 90% chance of a recession.
The survey found that for many Americans, the foundation of their retirement strategy is simply not to retire, to work considerably longer than the traditional retirement age, or work in retirement:
The situation is completely out of control – the U.S. financial house of cards is irredeemable at this point, even with interest rates at close to zero. The whole financial structure is close to collapse, and that’s why I think we’re exiting the eye
This nation deserves an all-on economic and political collapse. I don't want to see one, as I know that what comes from it will be horrifying, but we have no argument at a moral, ethical or for that matter Biblical level for avoiding it any longer.
The tragedy that's unfolding is shed in an even clearer light when we expand the stats series to include the longer term, in this case 5 years.
An ex-Moody's Corp derivatives analyst said the credit-rating agency intimidated and pressured analysts to issue glowing ratings of toxic complex, structured mortgage securities.
It must be just makeup, er...somethin', cause to me this sounds just like Ernie..
So, Doug London has suffered more damage from recent rioting than from anything else since the Blitzkrieg; the stock market had its most volatile week in years; gold shot well north of $1,800; and the U.S. government almost crashed into its debt ceil
11,015.78 -394.43 (-3.46%)
But America IS a Police State - Steve Greenhut on our overlords. / Libertarian Vampires - Anthony Gregory on the importance of freedom sci-fi. / The Media Are Paid To Lie for the State - As the case of Ron Paul proves, says Scott Lazarowitz.