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THE 5 percent of Americans with the highest incomes now account for 37 percent of all consumer purchases, according to the latest research from Moody’s Analytics. That should come as no surprise. Our society has become more and more unequal.
I’d love to be wrong about this and see another buoyant September in the tradition of 2010 or 2009 but something tells me we will not be quite so fortunate this year.
Initial jobless claims missed expectations, jumping 414K. That's worse than the 405K that analysts had expected, and the upwardly revised 412K from last week.
Eastman Kodak Co. (EK) may hold patents worth five times more than the business itself, making the 131-year-old camera company a target in the billion-dollar hunt for inventions used in mobile phones.
The American Institute of Architects (AIA) reported the July ABI score was 45.1 – the steepest decline in billings since February 2010 – after a reading of 46.3 the previous month. This score reflects a continued decrease in demand for...
Customers are still consolidating trips due to higher year-over-year gas prices. The swings in sales due to paycheck cycles remain pronounced, and our stores must staff and stock for the volatility both up-and-down.
40 years ago today former President Nixon was fighting inflation and overwhelming war costs and with that he ended the last remnants of the gold standard. At that time Nixon claimed he was defending the dollar but his critics said it was one of the m
Fitch Ratings confirmed the United States' top-notch credit rating and, in blatant disagreement with rival Standard & Poor's, gave a vote of confidence to Washington's deficit-reduction efforts. Fitch also kept a stable outlook on its U.S. AAA rating
Host:
Ernest Hancock
Charles Goyette - In Studio - "The End Is Nigh" - New York Times bestselling author: "THE DOLLAR MELTDOWN" / Ryan Mott - LOVEvolutionary activist since 2007 was at the Iowa Straw Poll
Host:
Ernest Hancock
Charles Goyette - In Studio - "The End Is Nigh" - New York Times bestselling author: "THE DOLLAR MELTDOWN" / Ryan Mott - LOVEvolutionary activist since 2007 was at the Iowa Straw Poll
The loss of market confidence in economic leadership in key countries like the United States and Europe coupled with a fragile economic recovery have pushed markets into a new danger zone...
As an economist Mr. Krugman, you need to begin to be intellectually honest with the general public, as the majority of our politicians seem to be struggling with that aspect of their public service. Continuing to support the obvious failed Keynesian
Read LetterB.A.R.T. Blocks Cells, Obama Hits New Low and Krugmanapos;s Idea: Aliens
The problem is that everyone drank the Kool Aid and BofA didn’t take aggressive enough action, either on boosting its equity or shrinking its balance sheet, when times were better.
Economic Depression
Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard & Poor's downgraded the US debt ratings anyway
Most people, including some very prominent economists are not thinking under the right conditions when coming to the conclusion that government must continue to spend to solve the current state of affairs. That it is the lack of enough spending, as o
Read Letter
Markets have certainly fallen quickly. It was only on 12,721 on July 21 and now we are looking at a low close of 11.269 after a 500-point PPT arrangement.
This video shows Nixon announcing that the dollar will no longer be backed up by gold in international transactions. The alarming event sparked the political career of a doctor named Ron Paul.
What is surprising is not that the current outlook is deteriorating, but that for the first time, the future index finally cracked as the hopium has finally ran out: "The future general business conditions index fell twenty-four points to 8.7...
The signs and stages of economic collapse and how to prepare for a post-collapse world.
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.
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.
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.
