Why Should You Be Freaked Out About Greece? Remember, The Great Depression Had Two Parts
Apr. 28, 2010, 4:37 PM
The most terrifying words I’ve seen written so far about the growing crisis in Greece were penned by Yves Smith yesterday: “So the whole idea that the financial crisis was over is being called into doubt. […]
How bad is the job market?Here’s Mike “Mish” Shedlock of Sitka Pacific with an update:
Want a job scooping poop? 260 people do. They applied for a job opening on Craigslist posted by Guy Palumbo, owner of Roscoe’s Ranch, a 24-kennel outfit.
You want to be the kennel helper? You’re on the hook for the poop. You’ll […]
Sales of previously occupied homes took the largest monthly drop in more than 40 years last month, sinking more dramatically than expected after lawmakers gave buyers additional time to use a tax credit.The report reflects a sharp drop in demand after buyers stopped scrambling to qualify for a tax credit of up to $8,000 for […]
Morgan Stanley’s Steven Roach thinks it’s pretty unfair of politicians to be putting so much blame on banks alone for the financial crisis, as if to forget the role ratings agencies and government itself. Moreover, he also thinks a double dip recession is pretty likely:
Starting at 2:00:
* “The banks didn’t do it alone [the […]
U.S. Chamber of Commerce President Tom Donohue warned the U.S. faces a double-dip recession because of the taxes and regulations under consideration by the Democratic Congress and President Barack Obama.
“Congress, the administration and states must recognize that our weak economy simply could not sustain all the new taxes, regulations and mandates now under consideration. It’s […]
Much has been written about the Great Depression and the present crisis. There is much that is similar and some that is not. The differences explain why events have unfolded differently. The similarities explain why the end will be the same.
Deflationary depressions occur after the collapse of large speculative bubbles. The collapse of the 1920s […]
Speaking in the heart of America’s biggest lender, President Obama told Fox News in an interview Wednesday that the piling on of U.S. debt could drag the country into a “double-dip recession,” though he said he’s still considering additional tax incentives for businesses to reverse the rising unemployment rate.
The president, who is in China as […]
Roubini: Bad news for the unemployed: The Worst Is Yet To Come! (W Shaped Recession. Enough of Hope and Change)
Roubini is back!
After a summer of mixed messages, he’s now firmly back to stark warnings, most recently sounding the alarm about a massive bubble due to the dollar carry trade.
And today in the Daily News he has some bad news for the unemployed: the worst is yet to come.
Also, remember: The last recession ended in […]
If you think the recession has hit hard where you live, consider the little Northern Illinois town where almost half the working age adults are out of work. It’s called Pembroke. CBS2’s Mike Parker reports.
Imagine a community so deep in the hole, the government has fired the police force and closed two of three elementary […]
It’s about to become official: The recession is over — but not the pain.The government will release figures this week expected to show that the economy has awakened from its deepest slump since the 1930s and is in the early stages of a recovery. But the following week, the government will issue another set of […]
he $787 billion economic recovery package also is stimulating growth in the federal government as agencies hire thousands of workers and spend millions of dollars to oversee and implement the package, according to government records and spokesmen.
Fourteen of the top federal agencies responsible for spending under the American Recovery and Reinvestment Act say they’ve hired […]