Economy
Democratic Senator: “Trillions in Debt, ‘Nothing to Show for It”
Michael Bennet, D-Colo,at a town hall meeting in Greeley last Saturday, Aug 21 said we had nothing to show for the debt incurred by the stimulus package and other expenditures calling the recession the worst since the Great Depression. […]
Regarding spending during his time in office he said, “We have managed to acquire $13 trillion […]
Intel CEO Otellini: The Democrats are destroying our economy
Intel CEO: U.S. faces looming tech decline. Intel chief executive Paul Otellini offered a depressing set of observations about the economy and the Obama administration Monday evening, coupled with a dark commentary on the future of the technology industry if nothing changes.
(Excerpt) Read more at news.cnet.com
Small Business CEOs Reveal Why They’re Not Hiring: Economic Contraction, Obama, And Healthcare
In response to Small Businesses are Not Hiring - Should They? I received a couple emails worth sharing. The CEO of a healthcare consulting company writes ….
Hello Mish
You ran a series of articles on small businesses, hiring and expansions. I thought I would add to it.
I run a small firm, with […]
Existing home sales dive to 15-year low (How is Hope and Change Working for you?)
This does not come to us as a surprise. We know it is noise and no action. According to Reuters, existing home sales falls to a 15 year low.
The National Association of Realtors said sales dropped a record 27.2% from June to an annual rate of 3.83 million units, the lowest level since May 1995. […]
Hardship withdrawals from 401(k)’s at record high (Disturbing Trend — and Worse to Come)
As the economy continues to worsen under Obama’s “recovery” plan, more disturbing news emerges. A record number of workers made hardship withdrawals from their 401(k) retirement plans. In fact, “the number of workers borrowing from their accounts reached a 10-year high” and reflects “the financial stress many workers” are experiencing according to Beth McHugh, Fidelity’s […]
And Now We’re Headed For The GREATEST Depression, Says Gerald Celente (Must Read)
The fake “recovery” was nice while it lasted, says famous apocalyptic forecaster Gerald Celente, founder of the Trends Research Institute. But now the fun’s over, and we’re headed for what Celente describes as the “Greatest Depression.”
Specifically, the always startling Celente says the country is headed for rising unemployment, poverty, and violent class warfare as […]
New Jobless Claims Rise to 500,000 …Highest level in 9 months
Initial claims for jobless benefits rose by 12,000 last week to 500,000, the Labor Department said Thursday. It was the fourth increase in the past five weeks and evidence that the economic recovery has weakened.
Read the whole story at Yahoo News
China Overtakes Japan as World’s Second-Biggest Economy
China’s economy surpassed Japan’s as the world’s second-largest – a highly anticipated milestone rich in symbolism for a developing country that began market reforms only three decades ago.
Read the whole story from LA Times
Federal Reserve Downgrades Recovery Outlook
Fed downgrades recovery outlook
Read the whole story at FT.com
Federal Reserve Set To Downgrade Outlook For US
The Federal Reserve is set to downgrade its assessment of US economic prospects when it meets on Tuesday to discuss ways to reboot the flagging recovery.
Faced with weak economic data and rising fears of a double-dip recession, the Federal Open Market Committee is likely to ensure its policy is not constraining growth and to use […]