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The S&P 500 briefly fell 2 percent as stocks extended losses late on Monday amid concerns about the euro-zone debt crisis and worries about the lack of progress in U.S. budget talks. The Dow Jones industrial average .DJI was down
The White House could resort to an little-known line in the US constitution to prevent a ruinous default if Democrats and Republicans do not agree to raise the debt ceiling by August 2, experts say. The 143-year-old clause, written to address stil
A small team of U.S. Treasury officials is discussing options to stave off default if Congress fails to raise the country's borrowing limit by an August 2 deadline, sources familiar with the matter said on Wednesday.
#9 Only 66.8% of American men had a job last year. That was the lowest level that has ever been recorded in all of U.S. history.
The household survey was even worse. Total employment fell by 445,000. Full-time employment is down by 0.5% in the last year, while part-time is up 3%. David Rosenberg calls this the just-in-time labor market.
When looked at in terms of levels - that is, dollars outstanding - it becomes even more stark what's going on and how badly we're screwing our young adults who simply do not know better and are taking horrifically-bad "advice" doled out...
“Now the policy cupboard is bare, and “we can see what the emperor looks like disrobed. It’s not a pretty picture.”The economy, Dave goes on, is in a very fragile state. Which isn’t all that surprising since it still bears the scars of the credit...
Main Street Depression
We can determine precisely what the Birth-Death contribution to the "jobs added" over the past year has been. The result: 606K, or 52% of the NSA jobs added (and 58% of the actual, seasonally adjusted jobs).
Does anyone seriously believe this rally is based on fundamental strengths in the U.S. and global economy? Uh, sure. Let's be honest, the whole thing reeks of massive goosing by proxies with the goal being perception management.
Transfer payments include welfare (financial aid), social security, and other subsidies by the government to certain businesses (i.e., ethanol). I was amazed to see the above chart. Government transfers now make up 22% of household income...
This chart needs no commentary. At 64.1%, the Labor Force Paritipcation rate just dropped to a fresh 25 year low:
We're confident that we have a new winner. It shows the average duration of unemployment, and it's skyrocketing without any hint of slowing down.
After that miserable jobs report, the pace of the recovery looks as horrible as ever.
This looks like we're just barely positive on employment trends. But that's misleading, and misleading the public is what the media is all about this morning, as they're saying that we had a positive number. We most-emphatically did not.
Absolute disaster. Total jobs per the establishment survey: +18K on expectations of 105K. The household survey was down by 445K from 139,779 to 139,334. Birth death adjustment + 131,000.
Minnesota lost its top credit rating on Thursday as Fitch Ratings downgraded the state's general obligation bonds one notch to AA-plus, citing the budget impasse. Minnesota's state government has been shut since last Friday, when Democratic Govern
It isn’t often that you hear about a stolen laptop being returned to its rightful owner — but still, that’s not really news. Toss in a police raid in Argentina and the recovery of about a $1 million in counterfeit U.S. bills — now you have a story.
Host:
Ernest Hancock
Dave - "Escape Harassment" is a Volunteer Group of Researchers and Educators. / Drew Phillips - Dime Cards at Porcfest / whatisthiscoinworth.info / Sheriff Richard Mack - Grant County, Oregon: The Solution To Tyranny
"The problem is at the consumer level, confidence is low and that is because, as you showed, showed we had underemployment with one out of every six Americans.
The banking system and fractional reserve explained.
A nice, sanely paced sitdown interview with the Conway Daily Sun from Dr. Paul's holiday weekend visit to New Hampshire. VIDEO
If the Great Depression teaches us anything, it is that government spending does not create wealth and does not create economic growth. Both Presidents Herbert Hoover and Franklin Roosevelt followed the recommendation of John Maynard Keynes, a very
To patch a $4 billion budget hole, 1,600 Florida state government employees were laid off, and another 562,000 began paying into their pension plans for the first time in 37 years. The 1,600 are a very small fraction of the state's overall government
The Detroit Three carmakers captured more than half the sales in the US market for the first time since September 2008 amid supply shortages caused by the Japanese quake, industry data showed Friday.
As the deadline to raise the debt ceiling draws closer, many are now wondering if Barack Obama will try to go around Congress if a deal is not reached by August 2nd.
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress...
Host:
Ernest Hancock
Hour 1 - University Concealed Carry 'permit?' - Hour 2 - Porcfest 2011
The Clean Air Act has been expanded and the EPA is in a power grab for jurisdiction over vehicle emissions and is now planning control over utilities.
A feisty President Obama met with reporters Wednesday — a sure sign that the dispute over the debt limit has reached a critical stage. The president, clearly intending to increase pressure on the GOP, lambasted Republicans for, in his words, refusing
