We have endured two cataclysms in which a regulatory agency upon which our nation's economy and environment depended failed to meet even the minimum requirements for doing its job.
PS: If the economy is recovering why are sales tax receipts down 6.9% from last year - the supposed "bottom" in the recession?
$166 billion jump spurs concerns over policy. And your family's share is only $104,000+
Given the headwinds in this economy, the lack of jobs, the falling consumer confidence numbers, falling new home sales, and falling leading indicators, today may be the last hurrah for retail sales for quite some time.
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Not only is it easy to beat record low comparisons of a year ago, same store sales are rising in part because stores are closing like mad.
This is the scary chart I’ve been sitting on for about a year and I now reluctantly post it. It shows a potential head and shoulders pattern with a possible target of approximately 1,300
In the sushi again…just like we said! The US stock market managed a weak rally yesterday. The Dow rose 56 points. Gold fell, closing the day below $1,200. This morning, stocks are generally going down again all over the world.
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There's growing evidence of a generational impact from the crisis, similar to how the Great Depression created a generation of penny pinchers.
The recession has directly hit more than half of the nation's working adults, pushing them into unemployment, pay cuts, reduced hours at work or part-time jobs, according to a new Pew Research Center survey.
The internal numbers from yesterdays Consumer Confidence Survey were really very ugly. The American public has no interest in buying a house or car, and their view of the economy is down right bearish.
When the government began rescuing AIG from collapse in the fall of 2008 with a $182 billion lifeline, AIG was required to forfeit its right to sue several banks over any irregularities with most of the mortgage securities it insured in the precrisis
Yet another huge disappointment for markets to digest -- ADP's June employment report showed just 13,000 new jobs were added from May to June on a seasonally-adjusted basis, vs. 61,000 expected. That's clearly a huge miss.
Despite signs of recent progress, "there's no possibility to restore 8 million jobs lost in the Great Recession," a notably candid Vice President Joe Biden said Monday. Friday's jobs report is expected to show overall payrolls declined by 115,000...
Reversing its oft-repeated position that it was acting only on behalf of its clients in its exotic dealings with the American International Group, Goldman Sachs now says that it also used its own money to make secret wagers against the U.S. housing m
Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.
Last year, Dan Alpert, described the huge stock market rally that followed the March lows as the "greatest sucker's rally in history." He also produced a fascinating series of news clippings from early 1930, a few months after the historic market cr
In this case, a spendthrift Congress coupled with loose monetary policy at the Fed, effectively encouraged housing and other speculation. The depression we are in now is a result of massively failed policy. The same policy cannot possibly...
The bond market is telling a very important story here and it is one of a deflationary depression. We may not agree with Paul Krugman’s cure of solving a credit collapse by trying to create even more credit, but his diagnosis...
Top flight technician Mary Ann Bartels (BofA/ML) comments on the one-year anniversary of the Golden Cross, and the “Dark Cross” — its evil twin — that is now upon us:
Stabilize public debts by 2016? By then, the US and other major economies will have more government debt than GDP. It is bound to be too late for many of them.
Stocks extended their decline on Tuesday, with the S&P 500 down more than 3 percent, after data showed U.S. consumer confidence plunged in June and on fresh concerns over euro-zone fiscal problems.
Are stocks worth buying today? Rob Bennett says, "No" as the short reply. His longer answer is in today's Investing: The New Rules.
Some random headlines will tell readers about where the U.S. economy is headed--more so than a dozen Joe Bidens preaching the Recovery Summer gospel.
The two primary ingredients for a depression are debt and fear, and the reality is that we have both of them in abundance in the financial world today.
The Conference Board's consumer confidence index for June dropped sharply to 52.9, which is a horrible underperformance of expectations given that consensus had forecast a reading of 62.
Yet another smackdown on MSNBC by the inimitable Rick Santelli of all that is fiat, and its henchmen. "Go read some Austrian economist instead of the funny pages." Santelli tells Liesman, to which the response is "I am ready to talk about Fred Hayek,
Just looked at gold, it plummeted $20 in two days, but today the market is down 2-3% across the boards in little over two hours after opening.