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Keyword: depression

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  • Currency Wars and Gold

    12/07/2012 9:07:00 AM PST · by Katechon · 10 replies
    A currency war in the simplest form is basically when there is too much debt and not enough growth. - James Rickards, Currency Wars: The Making of the Next Global Crisis Currency wars are real wars. But they are waged with currencies, stocks, bonds, derivatives, commodities, rather than guns and other kinetic weapons. In a currency war, countries try to manipulate their own currency to gain an unfair trade advantage. There is a currency war when one country tries to devalue its currency relative to others in order to promote exports and create jobs. Let's take an example. Some...
  • Finger Prints of Recession 2013, Recipe for Economic Disaster and Investor Opportunity

    12/06/2012 7:37:34 PM PST · by blam · 3 replies
    TMO ^ | 12-6-2012 | Ty Andros
    Finger Prints of Recession 2013, Recipe for Economic Disaster and Investor Opportunity Economics / Recession 2013Dec 06, 2012 - 03:04 AM By: Ty Andros The verdict is in and the man-made disaster that is creeping socialism just got a green light in the world’s largest economy! The SOMETHING for Nothing society known formally as the United States of America and controlled by what Vladimir Lenin called USEFUL IDIOTS (products of centrally controlled public schools taught the VIRTUES of socialism as beneficial) have now elevated their chosen REPRESENTATIVES as slave masters (at the point of a government GUN) to the last...
  • Investors 'Should Get Used to 1-2% Growth': Pimco's Gross

    12/04/2012 4:42:40 PM PST · by Red in Blue PA · 29 replies
    Investors should get used to one to two percent economic growth for the foreseeable future, Pimco's Bill Gross told CNBC's "Street Signs" on Tuesday. "We think that the United States is in a one to two percent growth environment going forward and investors should get used to it" as structural challenges keep growth in check, the Pimco co-founder and co-chief investment officer said. Earlier Tuesday, Gross released his final investment letter for 2012, where he continued to warn about slower economic growth due to ongoing structural challenges such as high debt levels, a slower growing China and an aging workforce.
  • Fiscal Cliff Debate Is About Size of Government, Not Taxing "the Rich" Thomas Sowell

    12/04/2012 7:22:09 AM PST · by Fred · 9 replies
    real clear pols ^ | 120412 | Thomas Sowell
    Amid all the political and media hoopla about the "fiscal cliff" crisis, there are a few facts that are worth noting. First of all, despite all the melodrama about raising taxes on "the rich," even if that is done it will scarcely make a dent in the government's financial problems. Raising the tax rates on everybody in the top two percent will not get enough additional tax revenue to run the government for ten days. And what will the government do to pay for the other 355 days in the year? All the political angst and moral melodrama about getting...
  • Study: American Households Hit 43-Year Low In Net Worth

    12/02/2012 10:28:58 AM PST · by george76 · 21 replies
    CBS DC ^ | November 30, 2012 | Edward N. Wolff
    The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969. According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole. According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars)...
  • Obama does a little Christmas shopping on "Small Business Saturday" [Vomit Bag Alert]

    11/26/2012 9:20:29 AM PST · by SoFloFreeper · 12 replies
    CBS ^ | November 26, 2012
    Hoping to encourage other Americans to participate in "Small Business Saturday" as an alternative to big chain-friendly Black Friday, President Obama today visited an Arlington, Va., bookstore to cross some items off his family's Christmas list. Accompanied by his daughters Sasha and Malia, the president journeyed across the river to One More Page Books, which the White House described as an "independent, neighborhood bookstore." After consulting his Blackberry for an apparent holiday wish list, he purchased 15 children's books before even browsing the store.
  • Banks told by Fed to test for 12% unemployment

    11/15/2012 3:47:54 PM PST · by Obadiah · 30 replies
    Market Watch ^ | 11/15/2012 | Ronald D. Orol
    The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%. The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.
  • Guns, Gold And Four More Years

    11/13/2012 8:42:24 PM PST · by Tolerance Sucks Rocks · 5 replies
    Personal Liberty Digest ^ | November 12, 2012 | Sam Rolley
    Most conservatives believe that the re-election of President Barack Obama is going to bring dire economic circumstances over the next four years, which could possibly drive the Nation into total collapse.The belief is likely not far-fetched considering the current state of affairs in American economics as the United States hurls toward a “fiscal cliff” which will combine rising tax rates and government shutdowns, the government prepares to raise its debt limit again to the tune of $2.4 trillion and the number of Americans out of work continues to trend at dismal levels.All of the ominous headlines about the shape of...
  • Vanity: Lincoln Was Wrong

    11/07/2012 3:04:27 AM PST · by canuck_conservative · 13 replies
    Exclusive to FR | Wednesday, November 7, 2012 | cc
    2008 - "You can fool all the people some of the time ..." 2010 - "...and you can fool all of the people some of the time..." But in 2012, Obama and Big Leftist Media managed to fool all of the people all the time! Now it's official, the freeloaders have taken over the country.
  • Some Liberals Actually Think “a record comparable to Franklin Roosevelt’s” Is a Good Thing – Sheesh!

    11/03/2012 12:42:57 PM PDT · by DeprogramLiberalism · 4 replies
    Deprogramming Liberalism ^ | June 15/12 | Jim Autio
    [written September, 2011, but even more applicable today] Re:  Could this time have been different?Ezra Klein     Washington Post columnistEzra Klein: Some partisans offer a simple explanation for the depth and severity of the recession: It’s the stimulus’s fault. If we had done nothing, they say, unemployment would never have reached 10 percent.This is the wrong way to look at it. The unemployment rate numbers are so skewed as to be virtually worthless. For instance, if all of the people that have given up searching for jobs were included in today’s unemployment rate it would be over 11%: Townhall Total employment is...
  • Asking for advice about depression after losing my job

    11/02/2012 11:44:36 PM PDT · by proud American in Canada · 119 replies
    myself
    Hi all, I hesitated for a long time to post this--particularly because our keyboard is so sticky it is difficult to write and post. I was just hoping for some advice. If I posted in the wrong place, I hope the mods will move it. Julie
  • Why the Long Face, Democrats? If You're convinced that Obama will win, why so depressed?

    11/02/2012 1:38:29 PM PDT · by SeekAndFind · 15 replies
    Daily Beast ^ | 11/02/2012 | Michael Medved
    When leading pundits, pollsters and prognosticators seem to agree that the re-election of President Obama is all but inevitable, why do grassroots Democrats seem so anxious and depressed? If the president’s most ardent supporters feel soul-deep certainty that their candidate has richly earned another term in office, then how is it that they universally acknowledge that he’ll draw far fewer votes than he did as an untried freshman senator four years ago? A revealing report by Joe Garofoli in the San Francisco Chronicle found local liberals “so freaked out about the prospect of President Obama losing his re-election bid that...
  • Amity Shlaes: Obama slanders the 1920s, ignore key lessons

    10/26/2012 7:01:28 PM PDT · by TurboZamboni · 6 replies
    pioneer press ^ | 10-26-12 | amity shlaes
    When it comes to our foreign policy, you seem to want to import the foreign policies of the 1980s, just like the social policies of the 1950s and the economic policies of the 1920s," President Barack Obama told Mitt Romney in their final debate. Obama got sloppy here. Presumably, the president was suggesting the 1920s represent economic failure. The decade represents just the opposite, as measured by the very goals on which the Democrats base their 2012 presidential campaign. Growth: Obama has spoken often and forcefully about economic growth. In just one debate, the second one, the president used the...
  • Iconic NY Steakhouse "Gallagher's", Which Survived The Great Depression, Is Closing

    10/26/2012 7:46:56 AM PDT · by Qbert · 8 replies
    Zero Hedge ^ | 10/25/2012 | Tyler Durden
    The Department of Labor's WARN (Worker Adjustment and Retraining Notification) website may have been exempt from layoff notices related to the fiscal cliff, but it still provides a sufficiently (bleak) complete picture about the real nature of layoffs and business cycle in general in America's busiest city. Which is why it was precisely using the WARN website that we learned that one of New York's most historic steakhouses, "NY's Prime Steakhouse since 1927" Gallagher's, located on 52nd street, and which survive the great depression, is shutting down on January 16. Surely neither the surging price of meat, nor the ability...
  • Autumn Leaves: Existing Home Sales Fall -1.7% (M2 Velocity Still Low) - WORST recovery since 1882

    10/20/2012 9:39:06 AM PDT · by whitedog57 · 3 replies
    confounded interest ^ | 10/20/2012 | Anthony B. Sanders
    Autumn is here, the leaves are turning color and existing home sales declined -1.7% in September. Here is my Fox Business interview with Laurie Rothman on the the housing recovery (and icebergs in its path). To be sure, there are stil supply problems such as over 2 million foreclosed homes still in pre-sale. Also, problems such as negative equity persist. Until housing prices rise more and negative equity fades away, supply problems are likely to continue in many parts of the nation. This comes on the heels of a excellent housing start report, partly fueled by The Fed’s massive purchase...
  • Creativity Linked to Mental Illness, Study Confirms

    10/17/2012 4:33:24 PM PDT · by Paradox · 38 replies
    Live Science ^ | 16 October 2012 | LiveScience Staff
    Creative types are thought to be more likely to suffer from mental illnesses, such as bipolar disorder and schizophrenia. A new large-scale study of the Swedish population helps confirm this link. Last year, researchers at the Karolinska Institutet near Stockholm found that families with a history of bipolar disorder and schizophrenia were more likely to produce artists and scientists. They built on this evidence in a new study, published this month in the Journal of Psychiatric Research, which covers a larger population sample and a wider scope of psychiatric diagnoses...
  • Destruction of the US Dollar

    10/15/2012 2:04:32 PM PDT · by Tolerance Sucks Rocks · 10 replies
    Patriot Action Network ^ | October 14, 2012 | Roger O'Daniel
    The picture below shows $15 trillion dollars worth of $100 bills on $10 million dollar pallets stacked on top of each other over an area that is one third larger than a regulation football field. An electronics van is parked between the stack and the Statue of Liberty. A single $100 million dollar pallet rests in front of the truck’s cab. See it?Recently, I reported that the Federal Reserve Bank (FED) secretly gave ten trillion dollars of interest-free loans to over a dozen European banks to shore up the Euro and keep them financially solvent. I later found out that...
  • Stress and the city: Urban decay - Scientists are testing the idea that the stress of modern city...

    10/13/2012 9:27:53 PM PDT · by neverdem · 29 replies
    NATURE NEWS ^ | 10 October 2012 | Alison Abbott
    Scientists are testing the idea that the stress of modern city life is a breeding ground for psychosis. In 1965, health authorities in Camberwell, a bustling quarter of London's southward sprawl, began an unusual tally. They started to keep case records for every person in the area who was diagnosed with schizophrenia, depression, bipolar disorder or any other psychiatric condition. Decades later, when psychiatrists looked... --snip-- Yet the results of his study, published last year in Nature (F. Lederbogen et al. Nature 474, 498–501; 2011), clearly showed that people who grow up in cities process negative emotions such as stress...
  • Forward? US Wage Income (% of GDP) at Lowest Level Since 1970

    10/13/2012 9:40:27 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 10/13/2012 | Snakeeyes Econ
    The rise in the consumer confidence rose more than expected. Despite real GDP growth hovering barely above 1% and the crash in durable goods orders, this is indeed a surprise. Or is it another Fed induced bubble? According to University of Michigan, consumer confidence has risen to Bush-era levels of September 2007. Just to put it into context, I put a yellow line through the 100 level. We still have a long way to go to get to 100 from 83.1. Here is a chart of wage income divided by GDP. Why are consumers more confident? Perhaps consumers are reacting...
  • The Largest Economy In The World Is Imploding Right In Front Of Our Eyes

    10/07/2012 6:56:32 AM PDT · by blam · 15 replies
    TEC ^ | 12-7-2012 | Michael Snyder
    <p>A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States - the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either - the economy that I am talking about is more than twice the size of China. You have probably guessed it by now - the largest economy in the world is the EU economy.</p>
  • Ketamine for Depression: The Most Important Advance in Field in 50 Years?

    10/06/2012 4:37:30 PM PDT · by Renfield · 67 replies
    Time Healthland ^ | 10-05-2012 | Maia Szalavitz
    In any given year, 7% of adults suffer from major depression, and at least 1 in 10 youth will reckon with the disorder at some point during their teenage years. But about 20% of these cases will not respond to current treatments; for those that do, relief may take weeks to months to come. There is one treatment, however, that works much faster: the anesthetic and “club drug” ketamine. It takes effect within hours. A single dose of ketamine produces relief of depression that has been shown in studies to last for up to 10 days; it also appears to...
  • JOHN HUSSMAN: We Are Already In Recession, And The Economists Just Don't Know It Yet

    10/01/2012 3:54:57 AM PDT · by blam · 9 replies
    TBI ^ | 10-1-2012 | Joe Weisenthal
    JOHN HUSSMAN: We Are Already In Recession, And The Economists Just Don't Know It Yet Joe WeisenthalOct. 1, 2012, 5:00 AM In his latest weekly letter, investor John Hussman reiterates his belief that we are already in recession. In regard to a U.S. recession, keep in mind that the consensus of economic forecasters – not to mention central bankers - has never recognized the start of a recession in real-time, largely because their assessments typically revolve around a “stream of anecdotes” approach that treats each new economic report with equal weight, without distinguishing leading/lagging and upstream/downstream structure. For example, we’ve...
  • A Call for Caution on Antipsychotic Drugs

    09/24/2012 10:12:40 PM PDT · by neverdem · 41 replies
    NY Times ^ | September 24, 2012 | RICHARD A. FRIEDMAN, M.D.
    You will never guess what the fifth and sixth best-selling prescription drugs are in the United States, so I’ll just tell you: Abilify and Seroquel, two powerful antipsychotics. In 2011 alone, they and other antipsychotic drugs were prescribed to 3.1 million Americans at a cost of $18.2 billion, a 13 percent increase over the previous year, according to the market research firm IMS Health. Those drugs are used to treat such serious psychiatric disorders as schizophrenia, bipolar disorder and severe major depression. But the rates of these disorders have been stable in the adult population for years. So how did...
  • Obama’s Hidden Bread Lines

    09/24/2012 11:52:02 AM PDT · by arthurus · 41 replies
    Right Side News ^ | 24 September 2012 | Terresa Monroe-Hamilton
    Americans are experiencing sticker shock and it is about to get a whole lot worse thanks to Obama. Between gas and groceries, our household is sinking fast. My husband works about 35 miles from here, so gas is an issue. For a household of three, where two drive for work, our gas bill this month will be close to $900. Groceries will come in at a modest $1000 since we have cut back. And folks, we live in a state that has reasonable pricing. Inflation is just clearing her throat and getting ready to sing, so this is going to...
  • More Americans Now Commit Suicide Than Die in Car Crashes as Miserable Economy Takes Its Toll

    09/22/2012 10:38:53 PM PDT · by DogByte6RER · 53 replies
    The Daily Mail (UK.) ^ | 22 September 2012 | Daily Mail Reporter
    $56 million suicide prevention programme launched as study reveals more Americans take their own lives than die in car crashes Suicide is a bigger killer than car crashes, according to an alarming new study. The number of people dying from suicide has drastically increased, while car accident deaths haven lessened, making suicide the leading cause of injury death. Suicides via falls or poisoning have risen significantly and experts fear there could be en more going unrecognised, specifically in cases of overdose. 'Suicides are terribly under-counted,' said Ian Rockett, author of the study, published on Thursday in the American Journal of...
  • Dalio Fears Social Unrest That Led to Hitler’s Rise

    09/22/2012 5:58:26 PM PDT · by Kartographer · 36 replies
    CNBC ^ | 9/21/12 | Maneet Ahuja
    In a worst case scenario, he painted a much darker picture. “When people get at each other’s throat, the rich and the poor and the left and the right and so on, and you have a basic breakdown, that becomes very threatening,” Dalio told CNBC in an exclusive interview on “Squawk Box.” “For example, Hitler came to power in 1933, which was the depth of the Great Depression, because of the social tension between the factions. So I think it very much is dependent on how the people work this through together and worry about the social elements.”
  • Mort Zuckerman: Welcome to the Modern-Day Depression

    09/20/2012 12:47:18 PM PDT · by lbryce · 6 replies
    US News and World Report ^ | September 19, 2012 | Mortimer B. Zuckerman
    We Need to Recover from the Obama Economic Recovery How do you recover from a recovery? Just how bust the nation's "recovery" has been is painfully documented in the latest news, just two months before the election. The Census Bureau validated what middle-class Americans know all too well from their week to week, month to month struggle to make ends meet. The typical family is back to where it was in 1995. The analysis of annual data collected by the bureau indicates that median income in 2011 had fallen to $50,054, the fourth straight year of decline in well-being, and...
  • The “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report

    09/19/2012 12:15:19 PM PDT · by grundle · 50 replies
    hillbuzz.org ^ | Sseptember 18, 2012 | Kevin DuJan
    Full title: Ground Reports from the “Depression that Shall Not Be Named” — things we notice that the corrupt media won’t report that show this is indeed a Depression On my desk, just under the computer monitor, I have a little box full of slips of scrap paper. I’ve been doing this since I was a kid because the nuns who taught me in Catholic School refused to ever waste paper. Anything that comes into my home that’s blank on one side and has outlived its usefulness is drawn and quartered and spends some time as scrap paper in that...
  • China And Russia Are Ruthlessly Cutting The Legs Out From Under The U.S. Dollar

    09/12/2012 9:19:48 PM PDT · by Tolerance Sucks Rocks · 33 replies
    The Economic Collapse ^ | September 11, 2012 | The Economic Collapse
    The mainstream media in the United States is almost totally ignoring one of the most important trends in global economics. This trend is going to cause the value of the U.S. dollar to fall dramatically and it is going to cause the cost of living in the United States to go way up. Right now, the U.S. dollar is the primary reserve currency of the world. Even though that status has been chipped away at in recent years, U.S. dollars still make up more than 60 percent of all foreign currency reserves in the world. Most international trade (including the...
  • The Terrifying Line in Obama's Speech That Everyone Missed

    09/09/2012 2:51:11 PM PDT · by IBD editorial writer · 83 replies
    Investor's Business Daily ^ | 09/07/2012 | IBD Staff
    His Agenda: President Obama's convention speech got rough reviews, and rightly so. He offered little but tired bromides and recycled promises. But critics overlooked one promise that will guarantee an even bleaker future. There was plenty to dislike in Obama's speech. The language was flat, his delivery languid. The speech was stuffed with standard Obama chestnuts about the smallness of politics, the corrupting influence of money in politics, and how cynicism is our worst enemy. [snip] But while everyone was picking apart these and other flaws in Obama's speech, they overlooked the most frightening line of all.
  • Recovery will require Depression-repairing level of effort, Obama tells national convention

    09/06/2012 6:00:12 PM PDT · by SeekAndFind · 54 replies
    Washington Post ^ | 09/06/2012
    CHARLOTTE, N.C. — His re-election in doubt, President Barack Obama conceded only halting progress Thursday night toward solving the nation’s economic woes, but vowed in a Democratic National Convention finale, “Our problems can be solved, our challenges can be met.” “The path we offer may be harder, but it leads to a better place,” Obama said in advance excerpts of a prime-time speech to delegates and the nation. The president’s speech was the final act of a pair of highly scripted national political conventions in as many weeks, and the opening salvo of a two-month drive toward Election Day that...
  • The Quadrillion Dollar Deflationary Debt Raft

    09/05/2012 11:07:56 AM PDT · by blam · 3 replies
    TMO ^ | 9-5-2012 | Raul I Meijer
    The Quadrillion Dollar Deflationary Debt Raft Interest-Rates / US DebtSep 05, 2012 - 02:03 AM By: Raul I Meijer Our Down Under roving reporter Skip came up with a few interesting questions when watching an interview that Russia Today recently ran with economist Richard Duncan. Where doth debt take us going forward, and, for that matter, where has it - really - taken us so far? If and when Japan implodes, does that force the US out of the possibility of moving - or already being - into the Japanese deflationary scenario and into something more sinister? Will it be...
  • Ex-Marine tweeted about killing co-workers in '09

    09/01/2012 5:34:32 AM PDT · by markomalley · 13 replies
    AP ^ | 9/1/2012 | KATIE ZEZIMA and SAMANTHA HENRY
    Unhappy with his life as a Marine stationed in California, Terence Tyler posed a question three years ago on Twitter: "is it normal to want to kill ALL of ur coworkers?" Struggling with depression, he left the Marines and recently started working at a supermarket in New Jersey. On Friday morning, Tyler shot two co-workers and himself, police said. The 23-year-old, clad in desert camouflage gear, opened fire at a Pathmark store in Old Bridge Township, authorities said. Authorities are investigating his motive, but family members said Tyler was discharged from the Marines two years ago after suffering from depression...
  • U.S. On The Highway To Hell

    08/28/2012 3:04:26 PM PDT · by blam · 65 replies
    TMO ^ | 8-28-2012 | Chris Kitze
    U.S. On The Highway To Hell Politics / US Politics Aug 28, 2012 - 02:19 AM By: Chris Kitze (Monty Perlerin / EconomicNoise.com)The Role of The Government in The Economic Crisis At this point, everything the government is doing – and not just the US government but governments everywhere − is not only the wrong thing but exactly the opposite of the right thing. They’re passing more laws, raising taxes, creating more currency and incurring more debt. They should be doing the opposite. We’re currently still in the eye of the storm. Their actions guarantee that when we go back...
  • Forsaken And Forgotten

    08/26/2012 7:32:21 AM PDT · by ex-Texan · 18 replies
    The Economic Collapse ^ | 8/25/2012 | Staff Members
    America is becoming a very cold place. If you don't have money, you don't really matter much in our society. The ads on television aren't for you - they are directed at people that actually have good jobs and that can afford to buy the nice little "extras" in life. The politicians aren't really interested in you either - they figure that they can buy your vote with all of the money that they are getting from the wealthy people. When you don't have money, even friends and relatives start to distance themselves from you. Perhaps they are afraid that...
  • Bill Gross: "Normal" Economic Growth Impossible Now: 90% of the Media Now Controlled by 6 Companies

    08/23/2012 3:04:20 PM PDT · by lbryce · 4 replies
    Money Morning ^ | August 23, 2012 | Terry Weiss
    Legendary market maven Bill Gross, the so-called "King of Bonds," said investors will flat-out lose money if they continue employing the "buy and hold" strategies of the past. In his August Investment Outlook, Gross told investors that "financial repression, QEs of all sorts and sizes" and low interest rates will "dominate the timescape" for decades, maybe longer. Investors must adjust to the new world order to avoid being the loser in this zero-growth environment, Gross warned. Ultimately, Gross said, the stock market's historical, inflation-adjusted 6.6% annual growth rate is unsustainable. Gross, of course, is a bond man. In March, he...
  • A Big Version of the Biggest, Most Important Chart in American Politics

    08/18/2012 7:26:57 AM PDT · by lbryce · 6 replies
    AEI Ideas ^ | August 18, 2012 | Saturday, August 18, 2012 Facebook Twitter Print Pethokoukis
    I’ve gotten a few requests for an embiggened version of the infamous jobs chart prepared by Obama administration economists Jared Bernstein and Christina Romer back in January 2009 (and updated by me). You know, the chart that predicted what the unemployment rate would be if Congress passed the Obama stimulus plan. Well, here you go. Click it once, let the next page load, and then click it again.
  • Gallup:August Unemployment Not Looking Good

    08/18/2012 6:55:54 AM PDT · by lbryce · 18 replies
    Gallup.com ^ | August 17, 2012 | Staff
    New Gallup unemployment data suggest an increase in the government's seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7. During recent months, Gallup's measurements have been more optimistic than those of the BLS. Barring a sharp reversal in this relationship, the government's unadjusted unemployment rate might be expected to stay the same or increase in August. Gallup's Daily tracking of the unemployment situation is based on interviews with more than 30,000 adults over the 30 days ending Aug. 15, and shows essentially no change in the unadjusted unemployment rate at 8.3% compared to 8.2% in...
  • Patrick Kennedy: Rep. Jackson in 'deep' depression

    08/16/2012 6:48:36 PM PDT · by NormsRevenge · 43 replies
    SFGate.com ^ | 8/16/12 | Michelle R. Smith and Sophia Tareen - Associated Press
    CHICAGO (AP) — U.S. Rep. Jesse Jackson Jr. is in a "deep" depression and has "a lot of work" ahead of him on the road to recovery, former Rhode Island U.S. Rep. Patrick Kennedy said Thursday after visiting the hospitalized Chicago Democrat. Jackson has been on a secretive medical leave since June 10, when family members said he collapsed at their home in Washington. He is currently being treated for bipolar disorder at the Mayo Clinic in Rochester, Minn. But neither his office nor family members have said much about his medical condition. The visit from Kennedy — who has...
  • Five years on, the Great Recession is turning into a life sentence

    08/12/2012 5:35:34 PM PDT · by bruinbirdman · 8 replies
    The Telegraph ^ | 8/12/2012 | Ambrose Evans-Pritchard
    Five years into the Long Slump it almost seems as if we are back to square one. China is sufficiently alarmed by the flint hardness of its "soft-landing" to talk up trillions of fresh stimulus. The European Central Bank is preparing to print “whatever it takes”to save Spain and Italy. Markets are pricing in an 80pc chance of yet more printing by the US Federal Reserve in September or soon after. There is no doubt that the three superpowers acting in concert can launch a mini-cycle of growth early next year - assuming they deliver on their rhetoric - but...
  • Wife of Congressman Jesse Jackson Jr. calls his depression debilitating, says he collapsed

    08/04/2012 4:26:16 PM PDT · by ButThreeLeftsDo · 64 replies
    StarTribune.com ^ | 8/4/12 | AP
    Congressman Jesse Jackson Jr. is suffering from debilitating depression and even collapsed at his home in Washington two months ago, his wife said in an interview published Saturday that revealed new details about his secretive leave of absence. Sandi Jackson, who is a Chicago City Council member, told the Chicago Sun-Times that contrary to rumors, her husband did not try to kill himself and was not being treated for alcohol or drug addiction. "No, no, none of that is true," she said. The Chicago Democrat and son of civil rights leader the Rev. Jesse Jackson has been off the job...
  • The Myth of Wartime Prosperity

    07/28/2012 11:02:35 AM PDT · by arthurus · 22 replies
    The American Connservative ^ | July 10, 2012 | Robert P. Murphy
    When pressed for a “success story” of their policies, Keynesians point with pride to World War II. They claim that it is the perfect illustration of the ability of massive government spending to lift an economy out of the doldrums. In the effort to battle this myth, Steve Horwitz and Michael J. McPhillips offer an interesting new article that analyzes diaries, newspapers, and other primary source documents from the wartime era. They show that average Americans on the home front certainly did not think they were living amidst a great economic recovery. Yet as I’ll show in this article—relying on...
  • Jesse Jackson Jr. in Mayo Clinic being treated for depression (found him for sure this time)

    07/27/2012 9:11:51 PM PDT · by Zakeet · 42 replies
    Fox News ^ | July 27, 2012
    Illinois Congressman Jesse Jackson Jr., whose whereabouts haven't been disclosed since he mysteriously took a medical leave several weeks ago, is being treated for depression at the Mayo Clinic in Rochester, Minn., according to a statement Friday from the hospital. Jackson is undergoing an extensive inpatient evaluation for depression and for gastrointestinal issues, according to the statement, which also provided the first details about his medical condition. But it provided no details about where the congressman, the son of civil rights leader Jesse Jackson, had previously been staying. [Snip] The timing of [Jackson's] leave has raised questions, in part because...
  • Spain unemployment hits new high of 24.6%

    07/27/2012 5:26:22 AM PDT · by moonshot925 · 6 replies
    BBC ^ | 27 July 2012 | Staff
    Some 5.7 million Spaniards, equivalent to almost one in four, are now seeking work, according to official figures. The country's unemployment rate rose to 24.6% during the April to June quarter, up from 24.4% during the previous quarter. Separately, Spain's third largest bank reported an 80% fall in net profits. CaixaBank said net profits fell to 166m euros ($203m; £129m) during the January to June period. CaixaBank also set aside 2.7bn euros against its property assets, in accordance with reform requirements stipulated by the government in May. On Thursday, Spain's biggest bank, Santander, reported that its profits halved during the...
  • Bank of America Has One Million Customers Who Missed at Least Two Payments

    07/19/2012 9:36:36 PM PDT · by lbryce · 12 replies
    OC Housing News ^ | July 11, 2012 | Staff
    Banks are slowing foreclosure rates yet again, and it isn’t because they are out of borrowers to foreclose on. With the settlement earlier this year, banks began to clear out their existing REO inventory, and they slowed foreclosures in the Southwest in order to modify mortgages to meet their requirements under the settlement (note the uptick in cancellations last month). Ideally, the banks would like to modify loans to keep borrowers in place and complete short sales for those who want to leave. They don’t want to resolve there legacy toxic loans by foreclosure. Unfortunately, borrowers are not cooperating....
  • BofA: QE3 Is Coming In September

    07/11/2012 9:37:58 PM PDT · by blam · 6 replies
    TBI ^ | 7-11-2012 | Sam Ro
    BofA: QE3 Is Coming In September Sam Ro July 11, 2012, 7:25 PM Economists spent the afternoon thumbing through the minutes of the June Federal Open Market Committee (FOMC) meeting. They were searching for clues on what the Fed's next move might be. Bank of America's economics team led by Michael Hanson and Ethan Harris think that the next move is QE3, a form of monetary policy that involves buying certain securities to lower interest rates. From this afternoon's note to clients: The minutes from the June FOMC meeting revealed a larger number of Fed officials either favoring or willing...
  • ROUBINI: Next Year Could Be A Global Perfect Storm—Much Worse Than 2008

    07/09/2012 4:44:55 AM PDT · by blam · 17 replies
    TBI ^ | 7-9-2012 | Henry Blodget
    ROUBINI: Next Year Could Be A Global Perfect Storm—Much Worse Than 2008 Henry Blodget Jul. 9, 2012, 6:07 AM NYU Professor Nouriel Roubini is in Aix-en-Provence. But the French countryside hasn't cheered him up any. In fact, in a new video interview with Bloomberg's Caroline Connan, Professor Roubini has outdone himself, issuing a forecast so apocalyptic that even devout Roubini-ites will be startled by its pessimism. (It's the smoothness, eloquence, and utterly matter-of-fact delivery that makes it so alarming). The fun starts at the 5-minute mark. Here are the highlights, which are delivered in perfect bullet-point format by Roubini, one...
  • Fighting this Depression with the Last Depression's Tactics is a Recipe for Disaster

    07/07/2012 4:24:57 AM PDT · by OwenKellogg · 18 replies
    American Thinker ^ | July 6, 2012 | Col. Frank Ryan, CPA, USMCR (Ret.)
    In Chairman Bernanake's doctoral thesis, he "focused on the role of monetary policy in affecting economic activity, and on the historical analysis of the causes of the Great Depression." His thesis and resulting understanding of the negative impact that uncertainty has on business cycles should provide insight on the actions needed by government to resolve our current economic difficulties. In short, Dr. Bernanake understood that "[i]t is shown that increased uncertainty provides an incentive to defer such investments in order to wait for new information" (page 2 of the dissertation). In the same paper, he wrote, "Uncertainty is seen to...
  • Will This Be America’s Last Independence Day?

    07/04/2012 11:58:31 AM PDT · by Hojczyk · 61 replies
    Gateway Pundit ^ | July 4,2012 | Jim Hoft
    How many of you out there today are asking the same question? Will today be America’s last Independence Day? After three and a half years of Barack Obama the economy is in ruins. The regulations more oppressive. The government is more intrusive. And the future looks bleak. Think of this – Just three and a half years ago– ** In President Bush’s last year in office, 2008, the deficit reached $459 billion. Today, for the third year in a row, the US deficit is over a trillion dollars (and Obama still says it’s Bush’s fault). This is after he promised...
  • Happy Dependence Day (Vanity best wishes)

    07/04/2012 4:06:40 AM PDT · by Freedom_Is_Not_Free · 7 replies
    Vanity | July 4, 2012 AV | Me, Jim F.
    Happy Dependence Day! That is Dependence, D-E-P-E-N-D-E-N-C-E , with a capital "D". Prompted by the Treason of the US Chief Justice in support of a radical communist Muslim US president whose assigned mission is to collapse the US economy and install socialist government infrastructure at every level, while signing over US sovereignty to a child-molesting atheist mental-case in Belgium, I just want to wish Freepers everywhere a Happy Dependence Day. By the power invested in me by my dog, Ranger, I hereby unilaterally declare that July 4th shall henceforth be known as "Dependence Day", when we celebrate the loss of...