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Keyword: bhoeconomy

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  • Number Of Americans Living On $2-A-Day Doubles

    09/01/2015 6:37:50 PM PDT · by Citizen Zed · 35 replies
    cbs news 6 ok ^ | 9-1-2015
    By one dismal measure, America is joining the likes of Third World countries. The number of U.S. residents who are struggling to survive on just $2 a day has more than doubled since 1996, placing 1.5 million households and 3 million children in this desperate economic situation. That's according to "$2.00 a Day: Living on Almost Nothing in America," a book from publisher Houghton Mifflin Harcourt that will be released on Sept. 1. The measure of poverty isn't arbitrary -- it's the threshold the World Bank uses to measure global poverty in the developed world. While it may be the...
  • Day 2 Mega Crash: Dow Closes Down 530 Points

    08/21/2015 1:56:00 PM PDT · by amessenger4god · 39 replies
    That is a 3.12% loss in a single day. 5.18% today and yesterday. To put that in perspective between 750 billion and 1 trillion dollars in market value were just wiped out in two days in the U.S. alone. And it isn't even September yet. It is about to get really, really ugly. CNBC is reporting that China's market is now mirroring 1929, and we could see the Chinese market crash a further 9% over just the next 4-5 days. Again I'll ask you: is your treasure in Heaven or on earth? You can't eat your gold, your silver, or...
  • Macy's cuts outlook as sales, profit slide (Trump Factor??)

    08/12/2015 11:50:56 AM PDT · by ripnbang · 41 replies
    Market Watch ^ | August 12, 2015 | Chelsey Dulaney
    Macy's Inc. on Wednesday cut its sales guidance for the year after reporting steeper-than-expected slides in sales and profit in its second quarter. Chief Executive Terry J. Lundgren said the company was disappointed with its second-quarter results, but said Macy's expects improvement in the second half of the year.
  • The New American Dream Under Obama: Renting

    06/22/2015 4:27:32 AM PDT · by SeekAndFind · 24 replies
    IBD ^ | 06/21/2015
    The heavy federal hand in the housing market has been a disaster. Despite spending more than $13,000 for every household, Washington has record low homeownership to show for it, even among the middle class. In fact, a just-released report by Harvard's Joint Center for Housing Studies not only finds more middle-class families renting but many also struggling to make rent, as homeownership rates plunge lower than ever. This is as shocking as it is depressing. It used to be that the middle class owned homes. Now it's increasingly feeling "the strain of rising rents," the reports says, as foreclosures and...

    05/29/2015 5:47:11 AM PDT · by tellw · 117 replies
    AP ^ | 5/29/2015 | MARTIN CRUTSINGER
    WASHINGTON (AP) -- The U.S. economy went into reverse in the first three months of this year as a severe winter and a widening trade deficit took a harsher toll than initially estimated. The Commerce Department says the overall economy as measured by the gross domestic product contracted at an annual rate of 0.7 percent in the January-March period. The revised figure, even weaker than the government's initial estimate of a 0.2 percent growth rate, reflects a bigger trade gap and slower consumer spending. It marked the first decline since a 2.1 percent contraction in the first three months of...
  • The U.S. economy has left behind 20 million Americans

    05/15/2015 8:00:05 PM PDT · by Lorianne · 16 replies
    Market Watch ^ | 13 May 2015 | Howard Gold
    About 10% of adults of working age have at best marginal ties with the economy ___ Last month, when Baltimore was burning after a young African-American man died in police custody (six officers were subsequently charged), I did a Google search to find what David Simon thought about it. Simon, a former reporter for the Baltimore Sun, was the creator and show runner of “The Wire,” which ran for five seasons on HBO and which Entertainment Weekly called the greatest television show ever. It was a brilliant narrative of the struggle for survival in a violent, drug-riddled Baltimore neighborhood much...
  • US economy rebounding with solid if unspectacular job gains

    05/08/2015 7:20:54 PM PDT · by Olog-hai · 33 replies
    Associated Press ^ | May. 8, 2015 5:05 PM ET | Christopher S. Rugaber
    Rebounding from a dismal start to the year, the U.S. economy added 223,000 jobs in April, a solid gain that suggested that employers are helping fuel a durable if still subpar recovery. The job growth helped lower the unemployment rate to 5.4 percent from 5.5 percent in March, the Labor Department said Friday. That is the lowest rate since May 2008, six months into the Great Recession. The figures provided some reassurance that the economy is recovering from a harsh winter and other temporary headwinds that likely caused it to shrink in the first three months of the year. Yet...
  • Wow. 47 Major Retailers Announce Closing of 6,000 Stores Across the Country

    05/07/2015 6:16:59 PM PDT · by Beave Meister · 39 replies
    You’ll never hear the Obama administration pass on an opportunity to gloat about the miracles they think they’ve managed to pull off over the past seven years to get America’s economy back on track. The only problem with that is, it’s not remotely true. Somehow, the spin doctors at the White House always manage to cherry pick rare instances of economic improvement and turn them into something much bigger. If you want a real indication of how President Barack Obama’s economy is fairing, just look to a recent report that shows a coming “retail apocalypse,” with major retailers across the...
  • Major U.S. Retailers Are Closing More Than 6,000 Stores

    05/03/2015 4:02:11 PM PDT · by dennisw · 142 replies
    zerohedge ^ | 05/02/2015 | Michael Snyder
    Submitted by Michael Snyder via The Economic Collapse blog, If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores? The “retail apocalypse” that I have written about so frequently appears to be accelerating. As you will see below, major U.S. retailers have announced that they are closing more than 6,000 locations, but economic conditions in this country are still fairly stable. So if this is happening already, what are things going to look like once the next recession strikes? For a long time, I have been pointing to 2015 as a...
  • A Weird Discrepancy In The US Economy Has Begun To Work Itself Out ... In A Bad Way

    04/06/2015 7:28:21 AM PDT · by blam · 39 replies
    BI ^ | 4-5-2015 | Sam Ro
    Sam Ro4-5-2015 Since the beginning of the year, the pace of growth in numerous US economic indicators deteriorated significantly, so much so that many of these metrics even fell short of economists' expectations. Weirdly, the pace of jobs growth had been resilient even amid unexpected plunges in key measures like retail sales and durable goods orders, reports which reflected weakness in both consumers and businesses. However, this weirdness has begun to work itself out. On Friday, we learned the US economy added just 126,000 jobs in March, missing expectations for 245,000 new jobs. You have to go all the way...
  • Just When You Thought The Obama Economy Can't Get Any Worse, It's Getting A Lot Worse

    04/03/2015 3:08:49 PM PDT · by Kaslin · 106 replies ^ | April 3, 2015 | Donald Lambro
    In the seventh year of Barack Obama's administration, the economy is still getting failing grades that have been the hallmark of his trouble-filled presidency. While he continues to go about the country telling voters that his policies are working, this week's dreary economic data tell a far different story. The bleak headlines in the nation's major newspapers tell the story in its bluntest terms. "Stocks fall on disappointing economic data," said USA Today. "U.S. stocks fall on weak economic data," blares The Wall Street Journal, with this subhead: "Private payrolls rise less than expected in March, adding to concerns about...
  • Obama's Lies on the Economy Revealed (He just can't help but lie)

    04/03/2015 3:20:49 PM PDT · by Kaslin · 18 replies
    Rush ^ | April 3, 2015 | Rush Limbaugh
    RUSH: It is amazing, folks. It's once again amazing how we were blatantly lied to in January and February about the unemployment numbers and the overall economy. Blatantly lied to. And we're being blatantly lied to about whatever or not is happening in this Iranian deal to boot. JOHNNY DONOVAN: And now, from sunny south Florida, it's Open Line Friday! RUSH: And, of course, the piece de resistance, we are being lied to about what's happening in Indiana. Every day, every day we have to devote time here to straightening out the lies that are told by the Democrat Party...
  • Americans just aren't spending

    04/01/2015 11:27:12 AM PDT · by Lorianne · 30 replies
    CNN ^ | sometime around the end of March 2015 | Paul R. La Monica
    Consumer spending is often called an engine of the United States economy. That engine may be about to blow a gasket. Consumers are sitting on their wallets. The government reported Monday that personal consumption expenditures -- aka consumer spending -- rose just 0.1% in February. That follows two months of declines of 0.2%. It comes at a time when people actually do have a little bit more money to spend. In the same report, the government said disposable personal incomes rose 0.4% in February, after rising 0.5% in January and 0.3% in December.
  • Ex OMB chief Stockman: "It is the biggest speculative disaster in human history."

    03/31/2015 7:59:48 PM PDT · by concernedcitizen76 · 52 replies
    Zero Hedge ^ | March 01, 2015 | Tyler Durden
    David Alan Stockman interviewed on CBS-TV 60 Minutes (October 2010) Highlights of recent interview by Harry Dent. David Stockman: People don't want to hear the reality and the truth that we're facing. But I think there is an enormous appetite out in the country to get a different perspective than what you have from the media day in and day out, so I say the fed is out of control. Its balance sheet is exploded. It's printing money like never before. Zero interest rates for 70 months have basically destroyed the pricing function in the financial markets. I said...
  • Underwater Homeowners "Here To Stay" Zillow Says

    03/21/2015 7:16:01 PM PDT · by Lorianne · 33 replies
    Zero Hedge ^ | 20 March 2015 | Tyler Durden
    A few weeks back we commented on the rather disturbing news that repeat foreclosures jumped in January: (link at source) Now, a new report from Zillow seems to offer further evidence that the US housing market may not be the picture of health after all (as if we needed more proof after housing starts cratered 17% in February). The percentage of homeowners underwater in the US was flat from Q3 to Q4 which doesn’t sound all that terrible until you consider that this figure had fallen for 10 consecutive quarters. Things look particularly bad in Florida and the midwest where...
  • Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece

    03/10/2015 3:11:57 PM PDT · by Jan_Sobieski · 86 replies ^ | 03/09/2015 | Barbara Hollingsworth
    ( -- The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25. “The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today. "Indeed, it may well be in worse fiscal shape than any developed country, including Greece," he said. (See...
  • The US recovery story is a fraud: SocGen bear

    02/27/2015 1:41:27 PM PST · by Lorianne · 3 replies
    CNBC ^ | 26 February 2015 | Matt Clinch
    Societe Generale's notoriously bearish strategist, Albert Edwards, has poured scorn on the belief that the U.S. economy is recovering and predicts "violent" reactions in asset markets during the second half of 2015. "The downturn in U.S. profits is accelerating and it is not just an energy or U.S. dollar phenomenon – a broad swathe of U.S. economic data has disappointed in February," he said in a research note published Thursday. U.S. indexes have continued to hit all-time highs this year and the Nasdaq is also looking to break through a level last seen at the peak of the tech bubble...
  • Billionaire Tells Americans to Prepare For 'Financial Ruin'

    02/26/2015 11:05:29 AM PST · by Ghost of SVR4 · 24 replies
    NewsMax ^ | Feb 25 2015 | Newsmax Wires
    In a recent interview for his book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting as soon as next year.” When the host questioned such wild claims, Wiedemer unapologetically displayed shocking charts backing up his allegations, and then ended his argument with, “You see, the medicine will become the poison.” The interview has become a wake-up call for those unprepared (or unwilling) to acknowledge an ugly truth: The country’s financial “rescue” devised in Washington has failed miserably.
  • Billionaires Dumping Stocks, Economist Knows Why

    02/26/2015 12:18:13 PM PST · by Citizen Zed · 52 replies
    newsmax ^ | 2-26-2015
    A handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Buffett’s holding company, Berkshire Hathaway, has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold...
  • Gallup CEO: I May “Suddenly Disappear” For Telling Truth About Obama (Video)

    02/08/2015 10:18:53 AM PST · by Reverend Saltine · 47 replies ^ | February 8, 2015 | Jim Hoff
    Gallup CEO: I May “Suddenly Disappear” For Telling Truth About Obama Unemployment Rate (Video) Gallup CEO Jim Clifton told CNBC he might “suddenly disappear” for telling the truth about the Obama unemployment rate. The real Obama unemployment rate has never recovered and is still above 10%. unemployment obama Wall Street on Parade reported: Years of unending news stories on U.S. government programs of surveillance,rendition and torture have apparently chilled the speech of even top business executives in the United States. Yesterday, Jim Clifton, the Chairman and CEO of Gallup, an iconic U.S. company dating back to 1935, told CNBC that...
  • Gallup CEO: "America's 5.6% Unemployment Is One Big Lie"

    02/03/2015 9:49:47 AM PST · by SeekAndFind · 36 replies
    Zero Hedge ^ | 02/03/2015 | Tyler Durden
    The biggest threat to a corrupt regime is when truth moves away from the "conspiracy theory" fringes and into the mainstream. Which is why we thank Jim Clifton, Chairman and CEO of Gallup, for daring to tell the truth to those who care to listen.Posted first on LinkedInThe Big Lie: 5.6% UnemploymentHere’s something that many Americans -- including some of the smartest and most educated among us -- don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading.Right now, we’re hearing much celebrating from the media, the White House and Wall Street...
  • Manufacturing showing signs of sputtering

    02/02/2015 7:36:00 AM PST · by george76 · 10 replies
    MarketWatch ^ | Feb 2, 2015 | Steve Goldstein
    Two measures of manufacturing sentiment in January matched their worst performance in a year, a sign that sputtering overseas growth as well as the rapid deterioration in commodity prices is hurting U.S. businesses. The Institute for Supply Management’s manufacturing index slowed to a reading of 53.5% from 55.1% in December, a reading that was below the MarketWatch-compiled consensus for a reading of 55%. U.S. stocks SPX, -0.41% moved lower in the immediate aftermath of the report. What has been good news for the U.S. consumer — tumbling gas prices — isn’t proving to be as good for U.S. business. That’s...
  • IBM Layoffs 2015: Here's What You Need To Know -- Big Blue's employees bracing for massive job cuts

    01/29/2015 7:55:50 AM PST · by SeekAndFind · 30 replies
    Talkin Cloud ^ | 01/29/2015 | CJ Arlotta |
    The VAR Guy reported last week that IBM's massive layoffs would begin this week — and this seems to be the case. Word surfaced last weekend that IBM is prepping to layoff up to 26 percent of its global workforce, or some 100,000 workers.Many of these layoffs come on the heels of Lance Crosby's resignation. Crosby, the founder of SoftLayer, a company IBM acquired for around $2 billion in July 2013, said in a statement that he was taking some time off before pursuing his "next challenge."Here's what you need to know about IBM's most recent round of layoffs....
  • IBM denies rumor of 100,000 layoffs but confirms ‘several thousand’ layoffs

    01/27/2015 10:45:27 AM PST · by SeekAndFind · 34 replies
    The Examiner ^ | 01/27/2015 | Tina Burgess
    IBM denies the rumor about the layoffs of more than 100,000 IBM employees. The company says that only “several thousand” IBM employees will be affected by the layoffs. In an email statement from IBM to Reuters, IBM officially denied the rumor concerning as many as 112,000 employees. According to the Jan. 26 Reuters report, “IBM is in the process of layoffs, as disclosed in its latest earnings report last week, but it will affect ‘several thousand’ employees only.” The layoffs of as many as 112,000 of the company’s employees would affect 26 percent of its global workforce. Robert Cringely, a...
  • More homeless camps are appearing beyond downtown L.A.´s skid row

    01/25/2015 4:26:48 PM PST · by Nachum · 25 replies
    L.A.Times ^ | 1/25/15 | Gale Holland
    Evicted four months ago from their Highland Park apartment, Louis Morales and his 18-year-old stepson, Arthur Valenzuela, live half-hidden by brush along the nearby Arroyo Seco riverbed. Morales, 49, keeps a framed bible verse and a stuffed monkey in his tent. Water hauled by bike from a park heats up on the camp stove. Next door, their friend Johnny Salazar fixes bikes and shattered computer screens on the cheap for people who live in the neighborhood. A brother and sister Morales has known for years live up the river, and three couples stay down by the bridge. "Everybody here is...
  • Obama Is The Main Obstacle To Economic Growth

    01/21/2015 1:58:41 PM PST · by Kaslin · 8 replies ^ | January 21, 2015 | Donald Lambro
    WASHINGTON -- No matter what President Obama said about the state of our union Tuesday night, the economy's prognosis is not good. Who says so? A hefty majority of the American people in a new Washington Post/ABC News poll that sought their opinion about the economy's health. Roughly six in 10 said it was "not so good" or "poor." Six years into Obama's painfully slow recovery, jobs are hard to come by in many parts of the country and wages remain flat. Hourly earnings actually fell last month, the U.S. Labor Department reported last week. It's gotten so bad that...
  • American Express Is Slashing 4,000 Jobs

    01/21/2015 2:40:22 PM PST · by SeekAndFind · 6 replies
    Business Insider ^ | 01/21/2015 | AKIN OYEDELE
    American Express will slash 4,000 jobs, even as the company reported that fourth quarter earnings were dented by foreign currency movements. Bloomberg reported that the job cuts are part of a restructuring, and a spokesperson said they will cut across the company. In its earnings release, the company said it is taking a pretax restructuring charge of $313 million to "improve operating efficiencies." After the bell Wednesday, American Express reported that fourth quarter profits rose 11% to $1.45 billion, or $1.39 a share, versus an expected $1.38 per share. Revenues rose to $9.1 billion from $8.5 billion, a 7% increase,...
  • Big layoffs planned at eBay [7% of the workforce]

    01/21/2015 2:47:49 PM PST · by SeekAndFind · 35 replies
    CNN Money ^ | 01/21/2015 | By Katie Lobosco
    Big layoffs are coming to eBay. The company is planning to slash 2,400 workers across the eBay and PayPal parts of the business. The cuts will impact 7% of the workforce. The layoffs will be made before the end of March. EBay said it was "simplifying organizational structures" in its quarterly earnings released Wednesday. A company spokesperson told CNNMoney that some of the cuts were to unfilled positions, but would not say how many.
  • 50,000 Wall Street jobs cut [There’s blood on the Street]

    01/19/2015 6:15:07 AM PST · by SeekAndFind · 31 replies
    New York Post ^ | 01/19/2015 | By John Aidan Byrne
    There’s blood on the Street. In a wild swing of the ax that has shocked many pundits, Wall Street’s biggest banks have slashed nearly 50,000 jobs, and bonuses and expense money are being cut as profit opportunities dry up. And there’s no easy way out, analysts say, because the Fed’s quantitative easing that once rescued the financial system with trillions of cheap dollars is — at least for now — history. But while some analysts were unnerved by the carnage announced by banks last week during their earnings calls, the warning signs were there before — from lower trading and...
  • Jacksonville-based Body Central closing all of its 265 stores; 2,500 out of work

    01/14/2015 6:34:44 PM PST · by 2ndDivisionVet · 5 replies
    The Florida Times-Union ^ | January 9, 2015 | Roger Bull
    Just two days after it warned that it might file Chapter 11 bankruptcy, Body Central is shutting all of its stores and headquarters completely. The chain’s 265 stores are running “aggressive promotional sales through Sunday,” Gardner Davis, an attorney representing the Jacksonville-based chain of clothing stores geared to young women and teens, said on Friday afternoon. It has stores in the The Avenues and Orange Park malls and River City Marketplace. The company’s headquarters and warehouse closed Friday, he said. “It’s tragic that the company’s 2,500 loyal employees are losing their jobs,” he said. About 185 of those employees worked...
  • U.S. stocks sell off; S&P 500 below 2,000

    01/06/2015 10:53:32 AM PST · by John W · 5 replies ^ | January 6, 2015 | Carla Mozee
    NEW YORK (MarketWatch) — Selling pressure on Wall Street intensified on Tuesday, sending the S&P 500 below the 2,000 level, as slumping oil prices and weaker-than-expected economic reports sent investors running for cover. Tuesday’s selling action comes on the heels of a brutal sell-off on Monday, which saw the closely watched Dow Jones Industrial Average shed 331 points. Investors were scouring for safe industries such as utilities as well as U.S. Treasurys, pushing yields to the lowest levels since the Oct.15 mini-flash crash.
  • "We Are Extremely Over-Retailed" Picturing The Death Of America's Malls

    01/06/2015 7:33:54 AM PST · by SeekAndFind · 109 replies
    Zero Hedge ^ | 01/05/2015 | Tyler Durden
    Starting in the mid-1990s, "the mall genie was out of the bottle," says one mall analyst, "and it was never going to come back." While about 80% of the country’s 1,200 malls are considered healthy (vacancy rates of 10% or less), that compares with 94% in 2006; and more than 30 million square feet of malls are more than 40% empty, a threshold that signals the beginning of what one one analyst called "the death spiral." As The NY Times reports, like beached whales, dead malls draw fascination as well as dismay, "nobody ever thinks a mall is going to...
  • Obama Will Trumpet Economic Recovery in State of the Union Runup

    01/03/2015 2:30:03 PM PST · by PROCON · 33 replies ^ | Jan.3, 2014 | Zeke J Miller
    The President will head to Detroit, Phoenix and Tennessee next week, touting economic growth under his administration Two weeks before he is set to deliver the State of the Union Address, President Barack Obama will embark on a tour to highlight the nation’s economic progress and preview his agenda for the coming year. The White House said Obama will trumpet the recovery of the nation’s automotive sector in a speech in the Detroit area on Wednesday, just one day after the new Republican-controlled Congress holds its first meetings of 2015.
  • Welcome To The Recovery: US Box Office Spend Plunges To Lowest Since 2000

    12/22/2014 7:26:22 PM PST · by Nachum · 80 replies
    zero headge ^ | 12/22/14 | tyler durden
    While the cancellation of 'The Interview' wiped billions off the US Box Office take in 2014 (), ticket sales in North America will total roughly $10.5 billion, according to The NY Times, the lowest since 2000 (after inflation). Regal Cinemas and AMX Theatres have seen profits collapse and Carmike Cinemas has plunged to a loss as major movie delays (from Pixar and Universal), "pirating" of several movies (The Expendables 3 and Annie) before their release, and studios suffering one dud after another (Warner Bros.) the 4% YoY decline - for what is ultimately an affordable luxury - suggests the gas-price-savings...
  • 1 in 5 Millennials Live in Poverty, Census Bureau Says

    12/16/2014 12:02:35 PM PST · by Olog-hai · 41 replies
    Cybercast News Service ^ | December 15, 2014 - 1:09 PM | Ali Meyer
    One in five young adults—ages 18 to 34 years old—live in poverty, according to data from the U.S. Census Bureau. “More millennials are living in poverty today, and they have lower rates of employment, compared with their counterparts in 1980,” the Census states. “One in five young adults lives in poverty (13.5 million people), up from one in seven (8.4 million people) in 1980.” …
  • Sears to accelerate closings, shutter 235 stores

    12/04/2014 12:42:34 PM PST · by Hojczyk · 133 replies
    CNBC ^ | December 4,2014 | Krystina Gustafson
    Sears shares fell Thursday, after the struggling department store announced an adjusted net loss of $296 million—in line with the updated guidance it gave in November. The retailer also said it's accelerating the number of stores it plans to close this year, boosting its list from the 130 underperforming stores it announced in its second-quarter earnings release, to a total of 235 stores. Analysts called the move a step in the right direction for the company, which has been tapping into its real estate in creative ways to compensate for downward-spiraling sales. Still, they said the haircut won't be enough...
  • 24 Reasons Why Millennials Are Screaming Mad About Our Unfair Economy

    11/17/2014 11:28:21 AM PST · by SeekAndFind · 96 replies
    TEC ^ | 11/15/2014 | Michael Snyder
    Do you want to know why Millennials seem so angry? We promised them that if they worked hard, stayed out of trouble and got good grades that they would be able to achieve the "American Dream". We told them not to worry about accumulating very high levels of student loan debt because there would be good jobs waiting for them at the end of the rainbow once they graduated. Well, it turns out that we lied to them. Nearly half of all Millennials are spending at least half of their paychecks to pay off debt, more than 30 percent of...
  • Dow now down 434...? Thanks Obama!

    10/15/2014 10:21:18 AM PDT · by AngelesCrestHighway · 82 replies
  • Clinton: "Nobody Believes" Economy Is Coming Back "Because you Don't Feel It"

    10/07/2014 5:45:06 AM PDT · by Haiku Guy · 43 replies
    Real Clear Politics Video ^ | 10/6/14 | Ian Schwartz
    Former President Bill Clinton was in his home state of Arkansas today to campaign for Sen. Mark Pryor. At a rally in Conway, Clinton said, "the economy is coming back but nobody believes it yet because you don't feel it." Clinton also touted his record as president. "I don't expect anybody to vote on it or be happy because middle class incomes haven't risen, the average family is making less adjusted for inflation than they were the day I left office," he said. (ship) --- VIDEO AT LINK ---
  • Billionaires are hoarding piles of cash

    09/22/2014 4:15:05 PM PDT · by SkyPilot · 87 replies
    CNBC ^ | 22 Sep 14 | Robert Frank
    Billionaires are holding mountains of cash, offering the latest sign that the ultra-wealthy are nervous about putting more money into today's markets. According to the new Billionaire Census from Wealth-X and UBS, the world's billionaires are holding an average of $600 million in cash each—greater than the gross domestic product of Dominica. That marks a jump of $60 million from a year ago and translates into billionaires' holding an average of 19 percent of their net worth in cash. "This increased liquidity signals that many billionaires are keeping their money on the sidelines and waiting for the optimal moment to...
  • Media Desperately Spinning Bad Jobs Report

    09/06/2014 10:52:10 AM PDT · by SeekAndFind · 16 replies
    Frontpage Mag ^ | 09/06/2014 | Daniel Greenfield
    Shockingly enough the numbers are bad and performing below the usual optimistic expectations. Just like every other time.I’ll just give you the headlines for a taste of how frantically the media is spinning the bad news. A Disappointing Jobs Report May Mask Economy’s Strength – NPRJobs Report: Not Good, but Not Terrible Either – New York TimesDon’t freak out about bad jobs report – Washington PostWhy weak August jobs report probably a fluke – MarketWatchThe Awful New Jobs Report Has One Silver Lining – New Republic It’s a fluke! There’s a silver lining! The bad news is really good news!...
  • Fed says Americans are hoarding cash

    09/04/2014 12:10:11 AM PDT · by Citizen Zed · 49 replies
    msn money ^ | 9-3-2014
    One of the great mysteries of the post-financial crisis world is why the U.S. has lacked inflation despite all the money being pumped into the economy. The St. Louis Federal Reserve thinks it has the answer: A paper the central bank branch published this week blames the low level of money movement in large part on consumers and their "willingness to hoard money."  The paper also cites the Fed's own policies as a reason for consumers' unwillingness to spend. Though American consumers might dispute the notion that inflation has been low, the indicators the Fed follows show it to be running well...
  • zuckerman: obama ‘has lost the confidence of the business community’

    08/30/2014 5:45:29 PM PDT · by Hojczyk · 34 replies
    Breitbart TV ^ | August 30,2014
    US News and World Report Chairman and Editor-in-Chief and publisher of The New York Daily News, Mort Zuckerman argued that President Obama “has lost the confidence of the business community” on Friday’s broadcast of “The McLaughlin Group.” “[The economy] has...grown by about 2%, 2.1%, for the last five years, which is the lowest rate of growth coming out of a recession we have had ever, since the Great Depression. And what’s more, that only took place, not because of the fact that the economic environment was that good, it's because we have a hugely stimulating monetary policy and fiscal policy....
  • Almost Half of America on Welfare

    08/24/2014 7:03:44 AM PDT · by Kaslin · 34 replies ^ | August 24, 2014 | Mike Shedlock
    Breakdown by Category 82,679,000 Medicaid51,471,000 Food Stamps22,526,000 Women, Infants and Children Program20,355,000 Supplemental Security Income13,267,000 Public Housing or Housing Subsidies 5,442,000 Temporary Assistance to Needy Families 4,517,000 Other Forms of Federal Cash Assistance Population Estimates (2013 estimates) California 38,332,521Texas 26,448,193New York 19,651,127Florida 19,552,860 Those four states have a population of 103,984,701. Those on welfare nearly totals that amount. Full Time Employment BLS figures show 115.735 million "usually" working full time at the end of 2012. There are currently 118.489 million "usually" working full time. Obamacare Welfare Expansion Inquiring minds may be asking "How did Obamacare effect welfare numbers?" Let's take...
  • Office Depot to close 165 stores this year; settles lawsuit for $80 million

    08/24/2014 3:45:11 AM PDT · by 2ndDivisionVet · 18 replies
    The Fort Lauderdale Sun-Sentinel ^ | August 5, 2014 | Marcia Heroux Pounds
    Boca Raton-based Office Depot said Tuesday it would close 165 stores during 2014 — up from the 150 estimated earlier this year — but stuck with a total count of 400 store closures through 2016, the company said. The office-supply retailer, which merged with OfficeMax last year in a $1.2 billion transaction, said it has completed its analysis of which stores will be closed across the U.S. and Canada. Locally, the retailer has closed two OfficeMax stores, in Coral Springs and Deerfield Beach. The company also announced on a conference call following its second-quarter earnings announcement that it has settled...
  • More Than A Thousand Stood Under Heat & Sun For Free Food In Miami

    08/22/2014 12:54:49 PM PDT · by SoFloFreeper · 71 replies
    CBS Miami ^ | 8/22/14
    More than a thousand locals lined up Friday morning for several hours under the scorching sun and heat in Miami for a box full of food. The event located at the Central Shopping Plaza at 3825 NW 7th Street started at 9:00 a.m.
  • 30 Facts That Prove The American Middle-Class Is Being Destroyed

    08/21/2014 8:10:45 PM PDT · by Nachum · 25 replies
    zero hedge ^ | 8/21/14 | tyler durden
    Submitted by Michael Snyder of The Economic Collapse blog, The 30 statistics that you are about to read prove beyond a shadow of a doubt that the middle class in America is being systematically destroyed. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a staggering pace. Yes, the stock market has soared to unprecedented heights this year and there are a few isolated areas of the country that are doing rather well for the moment. But overall, the long-term trends that...
  • Welcome to Juristic Park

    08/18/2014 4:07:24 AM PDT · by Kaslin · 2 replies ^ | August 18, 2014 | Katie Kieffer
    Steven Speilberg directed Jurassic Park 21 years ago. Barack Obama is now directing Juristic Park. Hold onto your popcorn. T. Rex is back. The Tyrannosaurus Rex is one of the most dangerous land carnivores in world history. In the 1993 movie Jurassic Park, a genetically engineered T. Rex viciously attacks the park’s tourists after a duplicitous park employee deactivates the park’s electric fences. Fast forward to 2014. A clone of T. Rex is prowling America for red meat. This time, “T. Rex” particularly craves the blood of Americans who are entrepreneurs. Juristic Park is a great metaphor for the state...
  • Five years after recession, most households still not better off

    08/07/2014 6:38:47 PM PDT · by Citizen Zed · 14 replies
    Fortune ^ | 8-7-2014 | Tom Huddleston, Jr.
    More than a third of all respondents said they were worse off financially than five years ago. Another third said that they were doing about the same. Only 10% of respondents felt they were doing much better than they had been in 2008, highlighting the dual nature of the recovery. Twenty percent more said they were somewhat better off. Most households surveyed didn’t complain much about their finances. Sixty percent said they were either “doing okay” or “living comfortably” when asked how they were managing financially. Meanwhile, many respondents said credit was hard to come by. Nearly one-third of those...
  • Luck and a Little Mystery: The Economy Grows Faster Under Democratic Presidents

    08/06/2014 12:33:05 PM PDT · by SeekAndFind · 42 replies
    New York Times ^ | 08/06/2014 | Jared Bernstein
    Though I typically resist, my wife often tries to get me to put down the laptop and enjoy the Zen of gardening with her. So you can imagine her surprise when she returned from a trip to find a beautiful clump of nonwild flowers planted in her garden. She loved the welcome-home gift and was ready to bestow upon me many valuable (and increasingly elusive) good-husband points. The thing is, I have no idea how those flowers got there. And like George Washington, I could not tell a lie. But had I in fact been an actual president, I probably...