The "importer of last resort based on credit" scheme is unraveling, as the U.S. allowed its own production capacity to be hollowed out and replaced by ever-higher and more burdensome credit-based consumption.
One mind-boggling result cited by Alan of the banks becoming prey to the casino mentality is that dollar trading volume now weighs in at four times gross domestic product — that’s right, quadruple GDP — and up a full tenfold what it was...
Financial stocks are getting demolished today, primarily because of their exposure to the Eurozone debt crisis.
Pension funds in developed economies are facing a new crisis as falling equities and tumbling bond yields widen their deficits, threatening the incomes and retirement dates of future retirees. At the heart of their problems is a steady move by pen
Right now the US Government is spending over a trillion and a half dollars more than they are taking in – but that's as good as it's going to get. We're already in the best of all possible worlds, considering what's happened. It gets vastly worse...
How do these “labor cost is destiny” advocates explain the continued success of export powerhouse Germany? Finally, the offshoring,/outsourcing vogue ignores the riskiness and lower flexibility of extended supply chains.
Given the situation, it's not unthinkable that self-styled Texas secessionist Rick Perry could be the next president. On top of that, the guy is a Christian Dominionist nut. This outfit wants to capture all politics, culture, and media in what is...
According to new data released by the Bureau of Labor Statistics today, North Dakota had an unemployment rate of just 3.3 percent in July—that’s just over a third of the national rate (9.1 percent), and about a quarter of the rate of the state with t
It is Labor Day weekend, 2011, but labor has nothing to celebrate. The jobs that once gave American workers a stake in capitalism have left and gone away.
A more interesting question might be if the US economy ever came out of recession in the first place? Recession: A decline in GPP for two consecutive quarters. Recession: When your neighbor loses his job. Depression: When you lose your job! E
That means it could cut over 10% of its 288,000 employees worldwide, making BofA the bank with the most brutal layoff plans we've heard yet, second only to HSBC's plans to layoff 30,000 of its 300,000 strong workforce.
The data suggests that the economy fell off a cliff in August.
With housing in most markets not having bottomed, the overwhelming majority of consumers having taking a wealth hit, businesses not investing and government not taking up the slack, where exactly is growth supposed to come from? The tooth fairy?
Virtually all of the activity that took place during the boom years was based on two ridiculous premises: one, a house was viewed to a large degree as an entitlement, when the government contended (and still does) that a certain number of mortgages s
Dear Wall Street Journal Letters Editor: With all due respect and humility, I beg to differ with the awesome intellect of Nobel economics laureate Gary S. Becker. In comparing market failures with government failuresRead Letter
I must stress, as the Journal does, that no action of this sort appears to be imminent. However, Bank of America’s mortgage woes appear to be worsening by the day. If Europe goes into a full-blown crisis, investors will dump investments...
Disaster: Zero new jobs created in August. A big fat goose-egg.
Instead of studying what makes Gibson (guitars) special, the Obama administration has decided to make it a target of more moron driven buffoonery.
Roy Miller Phoenix AZ 85007 Can Hurricane Irene Actually Be Good For Us Even though I confess to being a regular listener to National Public Radio it is sometimes a downright embarrassing experience. This week I had to listen to otRead Letter
An informative walking tour of the damage done to my hometown of Scottsdale, Az., from Hurricane Fannie Mae, a hurricane that has caused more damage to housing across the land than hurricanes Katrina and Irene combined. You’ll enjoy the tour.
Most of the worst financial panics in history have happened in the fall. Just recall what happened in 1929, 1987 and 2008. Well, September 2011 is about to begin and there are all kinds of signs that the financial world is about to hit the big red pa
Productive wealth has been trapped in a web of parasitic theft, counterfeiting, liability evasion, non-regulation, and prosecutorial non-accountability. All the fundamental attributes of a functioning exchange economy have been warped to reward...
A company that served as a showcase for the Obama administration’s effort to create jobs in clean technology shut down Wednesday, leaving 1,100 people out of work and taxpayers obligated for $535 million in federal loans.
Under a new state law in New Jersey, lunch-line bullies in the East Hanover schools can be reported to the police by their classmates this fall through anonymous tips to the Crimestoppers hot line. In Elizabeth, children, including kindergartners,
Obama has accepted Speaker John Boehner's request to postpone his planned jobs speech by a day, after the White House announced Wednesday that it was scheduling the address for the same night as a GOP 2012 primary debate in California.
“Maybe one of the solutions here is that they work a year or two longer,” he said. “Do we really think we are going to have a lot of 80-year-olds in the workforce? It sounds good until you start thinking about the practicalities of it.”
Home builder KB Home (KBH) is seeing increased demand for what it calls double master suites, two large bedrooms with attached bathrooms to accommodate parents living with their adult children...
Race and Economics - Let's tell the truth, shall we? Article by Walter Williams. / Forget Calories and Exhausting Exercise - To lose fat, eat fat. Don Miller, MD, talks to Lew Rockwell. / The Trouble With Egalitarianism - It justifies the total state
This article in the UK Telegraph takes a dim view of the "recovery" that the West is supposed to be enjoying. In fact, it cites a good deal of evidence to show the West's economic situation is about to get even worse.
Despite the mind-numbing mantra we constantly hear from our political leaders and central bankers that inflation does not exist, there are certain parts of our lives where even a freeze-dried coffee bean can see that prices are clearly rising: At the