Economy
Tax Hikes and the 2011 Economic Collapse
People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.
It shouldn’t surprise anyone that the nine states without an income tax are growing far faster and attracting more people than are the nine states with the highest income tax rates. […]
Europe, Jobs Could Weigh On Stocks This Week
Europe, Jobs Could Weigh On Stocks This Week Retail sales, consumer sentiment reports should give clues to spending
By Caroline Valetkevitch
NEW YORK - U.S. stocks could face further pressure next week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.
Reports on retail sales and consumer […]
50 Statistics About The U.S. Economy That Are Almost Too Crazy To Believe
Most Americans know that the U.S. economy is in bad shape, but what most Americans don’t know is how truly desperate the financial situation of the United States really is. The truth is that what we are experiencing is not simply a “downturn” or a “recession”. What we are witnessing is the beginning of the […]
Countdown To U.S. Economic Collapse
Economics / US Economy
Jun 03, 2010 - 10:59 AM
By: Pravda
Michael Snyder writes: So just how bad is the U.S. economy? Well, the truth is that sometimes it is hard to put into words. We have squandered the great wealth left to us by our forefathers, we have almost totally dismantled the world’s greatest manufacturing […]
Here We Go: Market Makes Big Move Down, Dow Off 160, Oil Falls Below $70
Here We Go: Market Makes Big Move Down, Dow Off 160, Oil Falls Below $70
Joe Weisenthal
May. 17, 2010, 12:04 PM
After see-saw action in the morning, the bulls are definitely making a serious move right now.
The Dow is off another 160, or more than 1.5%. The NASDAQ is also oss 1.5%.
Oil is below $70 now, a […]
US faces same problems as Greece, says Bank of England
Well, “Duh.” As long as we are governed by people who want us to be more like Europe, we will become more like Europe.
Mervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe.
(Excerpt) Read more at moneyrunner.blogspot.com
Fears over Greek bailout send shares and euro tumbling (House of cards)
Share prices have dropped across Europe and the euro has slid to an 18-month low against the dollar on fears that the eurozone bailout of Greece will fail and reports that French president Nicolas Sarkozy threatened to pull his country out of the single currency altogether to force Germany to agree to the rescue plan.
The […]
Depression 2010?
It is now conventional wisdom that the world has avoided a second Great Depression. Governments and the economists who advise them learned the lessons of the 1930s. When the gravity of the financial crisis became apparent in late 2008, the response was swift and aggressive. Central banks like the Federal Reserve and the European Central […]
Greek Debt Woes Ripple Outward, From Asia to America
The fear that began in Athens, raced through Europe, and finally shook the stock market in the United States is now affecting the broader global economy, from the ability of Asian corporations to raise money to the outlook for money-market funds where American savers park their cash.
What was once a local worry about the debt […]
Consumers shine despite slower-than-expected GDP
WASHINGTON (Reuters) - The economy grew at a slightly slower-than-expected pace in the first quarter, held back by inventories and exports, but resurgent consumer spending offered evidence of a sustainable recovery, a government report showed on Friday.
Gross domestic product expanded at a 3.2 percent pace, the Commerce Department said in its first estimate — marking […]
Fox News Poll: 79% Say U.S. Economy Could Collapse
Most American voters believe it’s possible the nation’s economy could collapse, and majorities don’t think elected officials in Washington have ideas for fixing it.
The latest Fox News poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats (72 percent), Republicans (84 percent) and independents (80 percent).
Just […]
America’s Richest Counties (Washington D.C. Suburbs Top The List)
The country’s fattest paychecks are brought home to these high-end suburbs.
The country may have started its long haul back to economic recovery — if recent news that consumer spending increased slightly in January is any indication. But even so, most Americans still aren’t ready to brag about their paychecks.
Except, perhaps, in Loudoun County, Va., […]
Organized crime: The ‘looting’ of $11 trillion from the U.S. economy
The following is based on a report by Cliff Kincaid for Accuracy in Media.
The New York Times is quoting a spokesman for George Soros as saying that the well-known hedge fund operator is guilty of no wrong-doing in connection with the financial upheaval currently affecting Greece and Europe as a whole.
But Zubi Diamond, author of […]
Economists Warn Another Financial Crisis On the Way
Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
In the report, the panel, that […]
US senator warns of ‘financial meltdown’ risk (Don’t worry, Liberals will continue to Tax and Spend)
The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire.
In a robust and at times testy video interview for the Financial Times’s View from DC series, Mr Gregg also complimented China for showing rising alarm about the US’s mounting levels […]
Jobless claims up 12% in past 2 weeks (Welcome to Obama America)
The number of Americans filing for initial unemployment insurance surged to just below the 500,000 level last week, and have climbed more than 12% over the past two weeks, the government said Thursday.There were 496,000 initial job claims filed in the week ended Feb. 20, up 22,000 from a revised 474,000 the previous week, the […]
SHOCKING REPORTS: CITIGROUP Warns Customers It May Refuse To Allow Withdrawals
The image of banks locking their doors to keep customers from making withdrawals during a bank run is what immediately came to mind when we heard that Citigroup was telling customers it has the right to prevent any withdrawals from checking accounts for seven days.
“Effective April 1, 2010, we reserve the right to require (7) […]
32.8 Million Americans Are Now on Food Stamps - Set Ever-higher Record (One out of 10 Americans is on food stamp)
A record 38.2 million Americans were enrolled in the food stamp program at latest count, up 246,000 from the previous month and the latest in record-high monthly tallies that began in December 2008.
Food stamps are the primary federal anti-hunger program, helping poor people buy groceries. The Agriculture Department updated enrollment data on Friday with a […]
Economic Report: Jobless claims at highest since mid-December
First-time filings for state unemployment benefits climbed to their highest level since mid-December last week, defying the forecasts of economists who had expected a sharp downturn, government data showed Thursday. For the week ended Jan. 30, initial claims rose 8,000 to stand at 480,000, according to the Labor Department.
Read the whole story at MarketWatch.com
Barney Frank:Fannie Mae, Freddie Mac Should Be Eliminated
By NICK TIMIRAOS And MICHAEL R. CRITTENDEN
A top House Democrat on Friday said his committee was preparing to recommend “abolishing” mortgage-finance giants Fannie Mae and Freddie Mac and rebuilding the U.S. housing-finance system from scratch.
“The remedy here is…as I believe this committee will be recommending, abolishing Fannie Mae and Freddie Mac in their current form […]