Keyword: depression

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  • U.S. GDP Miss Far Bigger Than Announced, Real GDP Is 0%

    04/29/2012 2:37:08 PM PDT · by blam · 19 replies
    TMO ^ | 4-29-2012 | Mike Shedlock
    U.S. GDP Miss Far Bigger Than Announced, Real GDP Is 0% Housing-Market / US Economy Apr 29, 2012 - 10:21 AM By: Mike Shedlock The Advance Estimate for Q1 GDP came in at 2.2%, down from 3.0% in the previous quarter, and below most mainstream media estimates of 2.5%. However, my friend BC notes .... The GDP deflator is reported to have averaged 1.2% annualized in the past 2 qtrs. Had the trend rate from '11 persisted, the deflator would have subtracted 2.6% annualized from real GDP, resulting in a 2-qtr. growth of real GDP of 0%. ECRI's Achuthan would...
  • Economic Nostradamus: We Are Literally Witnessing A Collapse

    04/28/2012 10:36:01 AM PDT · by blam · 50 replies
    SHTF Plan ^ | 4-28-2012 | Mac Salvo
    Economic Nostradamus: We Are Literally Witnessing a Collapse Mac Slavo April 27th, 2012 With the Presidential election cycle in full swing our incumbent administration, the media, and their financial pundits continue to maintain that the US economy’s green shoots have blossomed into fields of golden sunflowers. Despite what we’re being told, however, the actual data tells a stunningly different story. Richard Yamarone, a senior economist for Bloomberg Brief, has been called an economic Nostradamus for his prescient forecasting of the 2008 financial crisis, and now he’s warning that the worst is not over. In a recent interview with King World...
  • The Incredible UK Economic Catastrophe Chart That Everyone Is Talking About (Great Depression)

    04/25/2012 10:14:46 AM PDT · by blam · 10 replies
    TBI ^ | 4-25-2012 | Joe Weisenthal
    The Incredible UK Economic Catastrophe Chart That Everyone Is Talking About Joe Weisenthal Apr. 25, 2012, 10:25 AM Well, everyone is dumping on the UK today after that dismal Q1 GDP number, which confirms that the country has gone into double dip. David Cameron is taking a lot of heat for two reasons: The GDP stallout occurred right after he took office. He continues to be in denial, and so he's bragging a ton about low interest rates. Now here's another chart that everyone is tweeting, and which Paul Krugman has just posted. The UK recovery is now doing WORSE...
  • Did Bernanke Prevent Another Great Depression?

    04/22/2012 11:06:22 AM PDT · by blam · 36 replies
    TMO ^ | 4-22-2012 | Frank Shostak
    Did Bernanke Prevent Another Great Depression? Politics / US Economy April 22, 2012 - 07:02 AM By: Frank Shostak In a lecture given at George Washington University on March 27, 2012, the chairman of the Fed said that the US central bank's aggressive response to the 2007–2009 financial crisis and recession helped prevent a worldwide catastrophe. Various economic indicators were showing ominous signs at the time. After closing at 3.1 percent in September 2007, the yearly rate of growth of industrial production fell to minus 14.8 percent by June 2009. The yearly rate of growth of housing starts fell from...
  • The Anatomy Of Sovereign Debt Default

    04/17/2012 9:41:26 PM PDT · by blam · 8 replies
    TMO ^ | 4-17-2012 | Michael Pento
    The Anatomy Of Sovereign Debt Default Interest-Rates / Global Debt Crisis 2012 Apr 17, 2012 - 12:47 PM By: Michael Pento The three primary factors that determine the interest rate level a nation must pay to service its debt in the long term are; the currency, inflation and credit risks of holding the sovereign debt. All three of those factors are very closely interrelated. Even though the central bank can exercise tremendous influence in the short run, the free market ultimately decides whether or not the nation has the ability to adequately finance its obligations and how high interest rates...
  • I'm Worried

    04/14/2012 6:25:51 AM PDT · by Shane · 11 replies
    Cumberland Advisors ^ | 4/8/12 | David Kotok
    A note to readers. This 2000-word commentary is a longer-term view; think in terms of years, not months or days. The essay is not in conflict with the fully invested position currently held at Cumberland. The words reflect my personal thinking only. Some of my colleagues disagree. In my personal view, the future is uncertain (of course) and may be unattractive for the longer-term outlook. In my view, our American political system is failing us. In my view, we are joining the list of declining world powers. The framework to support that argument follows. "The external menace ‘You'll end up...
  • The Drudge-Romney axis . . .

    01/28/2012 12:19:22 AM PST · by dixiechick2000 · 102 replies
    The Damn Dirty Rino ^ | October 4, 2011 | Walt
    . . . of online media manipulation isn’t exactly new. In fact, it goes back well before Romney’s 2008 campaign got underway in earnest. It seems to date back to sometime in 2005, when RNC operatives arranged a meeting between Matt Drudge and Matt Rhodes — a highly placed operative in the Romney organization. Last year, a delegation of RNC officials flew to Miami Beach, where Drudge lives, for a dinner at the Forge steakhouse to introduce the Internet maven to Matt Rhodes, the party’s new opposition research director. Due to Drudge’s now-close friendship with Romney’s chief aide and longtime...
  • Ronnie Montrose’s Death Caused By Self-Inflicted Gunshot

    04/10/2012 7:57:52 PM PDT · by My Favorite Headache · 26 replies
    Ronnie Montrose’s Death Caused By Self-Inflicted Gunshot by: Dave Swanson 5 hours ago Ronnie Montrose Mark Bowman It has been confirmed that Ronnie Montrose’s death last month was not directly due to his long battle with cancer. The San Mateo County Coroner’s Office reports the guitarist instead died from suicide in the form of a self-inflicted gunshot wound. According to family friend Michael Molenda, in a sad and touching article on, the Montrose family knew the findings would be made public soon. So they posted a statement on the guitarist’s website and official Facebook page, which reads in part:...
  • NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed

    04/07/2012 7:05:08 PM PDT · by TigerLikesRooster · 87 replies
    BI ^ | 04/05/12 | Rob Wile NIALL FERGUSON: This Is The Study That Shows Why The US Economy Is Doomed Rob Wile | Apr. 5, 2012, 2:02 PM | 17,651 | 67 A Harvard Business School study that Niall Ferguson pointed us to today shows the U.S. has fallen severely behind in terms of international competitiveness. The study, from January, found that for Harvard alums personally involved in a company relocation decision, 57 percent said the decision "involved the possibility of moving existing activities out of the U.S." Meanwhile, only 9 percent considered moving existing activities from another country into the U.S. "A U.S.-based respondent...
  • Guest Post: Why Is Gasoline Consumption Tanking?

    04/03/2012 7:50:20 AM PDT · by Mechanicos · 98 replies
    Zero Hedge ^ | 02/10/2012 | Tyler Durden
    Retail gasoline deliveries, already well below 1980 levels, have absolutely fallen off a cliff. .... Deliveries in November 2011 were 30.9 MGD, a staggering 47% decline. ..... What other plausible explanation is there for the decline from 42.4 MGD in July 2011 to 30.9 MGD in November 2011 other than a dramatic decline in discretionary driving? That 27% drop in a few months in unprecedented, except in times of war or sharp economic contraction, i.e. recession.
  • Faber Predicts 'Massive Wealth Destruction' Hyperinflation, Social Unrest, Credit Collapse, Etc

    04/02/2012 6:55:24 AM PDT · by blam · 46 replies
    TBI ^ | 4-2-2012 | Joe Weisenthal
    Marc Faber Predicts 'Massive Wealth Destruction' Through Hyperinflation, Social Unrest, Credit Collapse, Or War April 2, 2012Joe Weisenthal Marc Faber was on CNBC this morning, peddling his standard doom He had two good lines: The first was that the #1 question investors should ask themselves is not 'where can I make the most money' but rather 'where can I avoid losing the most money'? He then predicted that the endgame of all this easing will be "massive wealth destruction" through some combination of hyperinflation, credit collapse, social unrest, and WAR! Doom, boom, and gloom indeed. For what it's worth, he...
  • Overcome depression and suicide, easily!

    03/25/2012 8:55:06 AM PDT · by fabian · 78 replies · 1+ views
    me ^ | 03/24/12 | Fabian
    This is my first youtube about a very effective,simple and perfect way to overcome the negative stresses of living in an almost totally socialist nation. It is being used widely by our troopers now and can be heard for free! Please listen.
  • U.S. Economy Dead Man Walking, The Crash Of 2012

    03/23/2012 5:33:57 PM PDT · by blam · 11 replies
    TMO ^ | 3-23-2012 | Casey Research
    U.S. Economy Dead Man Walking, The Crash Of 2012 Economics / US Economy Mar 23, 2012 - 03:32 PM By: Casey Research Doug Casey, Casey Research writes: In an interview with Louis James, the inimitable Doug Casey throws cold water on those celebrating the economic recovery. [Skype rings: It's Doug Casey, calling from Cafayate, Argentina. He sounds tired, but pleased with himself.]Doug: Lobo, get out your mower; it's time to cut down some green shoots again, and debunk a bit of the so-called recovery. Louis: Ah. I have to say, Doug, the so-called recovery is looking more than "so-called" to...
  • Recovery 2020! We're Barely on Pace to Close the Jobs Gap This Decade

    03/13/2012 11:53:40 AM PDT · by SeekAndFind · 7 replies · 1+ views
    The Atlantic ^ | 03/13/2012 | Derek Thompson
    The labor market is in full-blown recovery mode right now, with the economy adding more than 200,000 net new workers each month for the past three months. At this rate, we'll close the jobs gap in roughly ... eight years.Eight years!?Yep, that is the conclusion from Michael Greenstone and Adam Looney at the Hamilton Project. Today the country faces a 11 million-person jobs gap. This "jobs gap" represents the number of jobs that the U.S. economy needs to return to pre-recession employment rates while also (this part is key!) absorbing everybody joining the labor force.It's not just enough to make...
  • Vitamin D Deficiency and Fibromyalgia: Lessening the Pain and Depression

    03/12/2012 6:37:19 AM PDT · by stillafreemind · 23 replies
    Yahoo ^ | March 12, 2012 | Sherry Tomfeld
    Two years ago, I started reading about vitamin D deficiency. In articles by Dr. Frank Lipkin and on Natural News, they explained the symptoms of vitamin D deficiency. Guess what? To my surprise and curiosity, a lot of the symptoms were like fibromyalgia. I went back through my paperwork and saw that the nurse had indeed told me to take vitamin D.
  • No Matter How Much Food You’ve Got Stored, It Will Eventually Run Out in a Full-Blown Collapse

    03/01/2012 10:29:42 AM PST · by blam · 212 replies · 26+ views
    SHTF Plan ^ | 3-1-2012 | Joe Alton, M.D.,aka Dr. Bones
    No Matter How Much Food You’ve Got Stored, It Will Eventually Run Out in a Full-Blown Collapse Joe Alton, M.D.,aka Dr. Bones March 1st, 2012 The following article has been generously contributed by Joe Alton, M.D., aka Dr. Bones, of Doom and Bloom Nation where you can find strategies to stay healthy that include traditional medicine, alternative remedies, and medicinal/survival gardening. For the best in emergency and long-term disaster medical preparedness we encourage you to check out The Doom and Bloom Survival Medicine Handbook and follow Dr. Bones and Nurse Amy on their weekly podcast. -------------------------------------------------------------------------------- To Survive, How Much...
  • (Vanity) How do you do it? Current News vs. Depression

    02/24/2012 9:52:17 AM PST · by hoagy62 · 57 replies
    2/24/2012 | Hoagy62
    As a citizen of this country, I feel it is my duty to keep informed and not be ignorant of what's going on around me. Anyone who calls themselves a conservative (I believe) should stay informed as to what's going on around them. 'Situational awareness' is important. With that being in the hell do you keep up with the news and not get totally and completely depressed? I see the insane policies of the current administration, the overwhelming ignorance of the electorate who put them there, and the generally deteriorating state of the world. Closer to home, I see...
  • Treating Depression: Is there a placebo effect? (PROZAC, OTHER SSRIs VIRTUALLY WORTHLESS)

    02/19/2012 6:07:06 PM PST · by MindBender26 · 121 replies
    CBS 60 Minutes ^ | Tonight | Lesley Stahl
    (CBS News) Do antidepressants work? Since the introduction of Prozac in the 1980s, prescriptions for antidepressants have soared 400 percent, with 17 million Americans currently taking some form of the drug. But how much good is the medication itself doing? "The difference between the effect of a placebo and the effect of an antidepressant is minimal for most people," says Harvard scientist Irving Kirsch. Will Kirsch's research, and the work of others, change the $11.3 billion antidepressant industry? Lesley Stahl investigates.
  • Obama: You should re-elect me because I have no idea what I am talking about

    02/18/2012 4:13:16 PM PST · by Starman417 · 6 replies
    Flopping Aces ^ | 02-18-12 | DrJohn
    The most brilliant man in the universe said in 2008: "We are in the worst financial crisis since the Great Depression..." "The worst financial crisis since the Great Depression."Sure sounds like he meant "the worst financial crisis since the Great Depression."Now he says he had no idea how bad it was. "So, the die had been cast, but a lot of us didn't understand at that point how bad it was going to get. That increases the deficit because less tax revenues come in, and it means that more people are getting unemployment insurance, we're helping states more so they...
  • Magic mushrooms point to new depression drugs (Hope yet for Reid, Pelosi & Debbie Blabbermouth?)

    01/23/2012 6:57:34 PM PST · by NormsRevenge · 35 replies · 1+ views ^ | 1/23/12 | Reuters
    LONDON — The brains of people tripping on magic mushrooms have given the best picture yet of how psychedelic drugs work and British scientists say the findings suggest such drugs could be used to treat depression. Two separate studies into the effects of psilocybin, the active ingredient in magic mushrooms, showed that contrary to scientists' expectations, it does not increase but rather suppresses activity in areas of the brain that are also dampened with other anti-depressant treatments. "Psychedelics are thought of as 'mind-expanding' drugs so it has commonly been assumed that they work by increasing brain activity," said David Nutt...
  • U.S. unlikely to fully recover, Carney warns

    01/23/2012 3:17:04 PM PST · by Dallas59 · 26 replies
    Vancouver Sun ^ | 1/23/2012 | Robert Hiltz
    Canada needs to look beyond its southern neighbour for markets because the United States economy is unlikely to ever fully recover, Bank of Canada governor Mark Carney said Sunday. In an interview with CTV's Question Period, Carney said that it is vital for Canada to look for new trading partners in the Asia-Pacific region and elsewhere to prevent the economy from being dragged down by the U.S. "It's going to take a number of years before they get back to the U.S. that we used to know - in fact, they are not, in our opinion, ultimately going to get...
  • 22 Signs That We Are On The Verge Of A Devastating Global Recession

    01/12/2012 5:36:41 PM PST · by blam · 13 replies
    TEC ^ | 1-12-2012 | Michael Snyder
    22 Signs That We Are On The Verge Of A Devastating Global RecessionJanuary 12, 2012Michael Snyder 2012 is shaping up to be a very tough year for the global economy. All over the world there are signs that economic activity is significantly slowing down. Many of these signs are detailed later on in this article. But most people don't understand what is happening because they don't put all of the pieces together. If you just look at one or two pieces of data, it may not seem that impressive. But when you examine all of the pieces of evidence that...
  • How To Prepare For The Difficult Years Ahead

    01/10/2012 11:28:44 AM PST · by blam · 77 replies · 1+ views
    TEC ^ | 1-10-2011 | Michael Snyder
    How To Prepare For The Difficult Years AheadMichael SnyderJanuary10, 2012 How should people prepare for the difficult years that are coming? I get asked about that a lot. Once people really examine the facts, it is not too hard to convince them that an economic collapse is coming. But once they accept that reality, most of them want to know what they can do to prepare themselves and their families for the hard times that are ahead. Well, the truth is that it does not have to be complicated. Many of the things discussed throughout this article are things that...
  • Sixth straight month of solid hiring expected when government reports on December job growth

    01/06/2012 4:15:37 AM PST · by Recovering_Democrat · 14 replies · 1+ views
    .....[Economists] predict that the unemployment rate ticked up to 8.7 percent from 8.6 percent, which was the lowest rate since March 2009.
  • Welfare Lines Overflow

    01/05/2012 12:34:41 PM PST · by WOBBLY BOB · 13 replies · 1+ views
    Growing numbers of New Yorkers seeking food stamps have created an unwelcome spillover effect at some of New York City's job centers: overcrowding that in some cases has grown so severe, benefits were jeopardized. The crush of people grew so large at one Brooklyn center in November that the Fire Department intervened and prevented anyone from entering the building.
  • The Long, Long Depression

    01/02/2012 5:58:18 PM PST · by dynachrome · 10 replies · 1+ views
    National Review Online ^ | 1-2-12 | Matthew Lynn
    The markets were on a roll. New companies were being listed every few days. Germany had a new currency, and its mighty exporters were doing business around the world. Greece had merged its currency with that of France and Italy in a bold experiment in monetary union. A massive new continental economy was flooding the world with cheap goods, disrupting old industries. And new technologies were creating global markets, where money and information zipped from bourse to bank virtually instantaneously. Until the crash came, it seemed as if everyone would keep on getting richer and richer forever. You could be...
  • The spectre of 1932: [2012 the most frightening year in living memory?]

    01/01/2012 12:27:30 PM PST · by thouworm · 14 replies
    UK Daily Mail ^ | Dec 31, 2011 | Dominic Sandbrook
    Meanwhile, as the eurozone slides towards disaster, the prospects for Europe have rarely been bleaker. Already the European elite have installed compliant technocratic governments in Greece and Italy, and with the markets now putting pressure on France, few observers can be optimistic that the Continent can avoid a total meltdown.... For the most chilling parallel, though, we should look back exactly 80 years, to the cold wintry days when 1931 gave way to 1932. Then as now, few people saw much to mourn in the passing of the old year. It was in 1931 that the Great Depression really took...
  • The spectre of 1932: How a loss of faith in politicians and democracy could make 2012 the most

    01/02/2012 9:11:45 AM PST · by Texas Fossil · 31 replies
    Daily Mail on-line (UK) ^ | 31st December 2011 | Dominic Sandbrook
    The dawn of a new year is usually a time of hope and ambition, of dreams for the future and thoughts of a better life. But it is a long time since many of us looked forward to the new year with such anxiety, even dread.
  • The Obama Nation: Even More Debt And Even More Store Closings

    12/28/2011 4:21:47 PM PST · by blam · 5 replies
    TEC ^ | 12-28-2011
    The Obama Nation: Even More Debt And Even More Store ClosingsDecember 28, 2011 Well, it is time to raise the debt ceiling again. Right now we are about to hit the current limit of $15.194 trillion and the Obama administration is going to ask that it be raised by another 1.2 trillion dollars. Unfortunately, Congress has already promised not to stand in the way, and so soon the debt limit will be raised to a staggering $16.394 trillion. Considering how much debt we have already placed on the backs of future generations, what is another 1.2 trillion dollars? After all,...
  • America’s Best Kept Secret: Rising Suburban Poverty

    12/27/2011 2:12:04 PM PST · by SeekAndFind · 52 replies · 1+ views
    Fiscal Times ^ | 12/27/2011 | Michelle Hirsch
    For years, the food pantry in Crystal Lake, Ill., a bedroom community 50 miles west of Chicago, has catered to the suburban areas’ poor, homeless and unemployed. But Cate Williams, the head of the pantry, has noticed a striking change in the makeup of the needy in the past year or two. Some families that once pulled down six-figure incomes and drove flashy cars are now turning to the pantry for help. A few of them donated food and money to the pantry before their luck soured, according to Williams. “People will shyly say to me, ‘You know, I used...
  • It's The Math, Stupid!: 7 Devastating Facts About 2012

    12/27/2011 9:43:31 AM PST · by redstateone · 60 replies
    Breitbart News ^ | December 27, 2011 | Wynton Hall
    As we enter 2012, the presidential candidates would do well to wrap their minds and messages around these seven mathematical facts: 1. Every day, the U.S. government takes in $6 billion and spends $10 billion. This means that every day the federal government spends $4 billion more dollars than it has. 2. The real unemployment rate is a jaw-dropping 11 percent. 3. Every fifth man you pass on your way to work is now out of work. 4. College graduates are now 34% less likely to find a job under Obama than they were under President George W. Bush. 5....
  • A simple HTML tag will crash 64-bit Windows 7

    12/21/2011 10:18:07 AM PST · by ShadowAce · 55 replies
    The Register ^ | John Leyden
    An unpatched critical flaw in 64-bit Windows 7 leaves computers vulnerable to a full 'blue screen of death' system crash. The memory corruption bug in x64 Win 7 could also allow malicious kernel-level code to be injected into machines, security alert biz Secunia warns. Fortunately the 32-bit version of Windows 7 is immune to the flaw, which has been pinned down to the win32k.sys operating system file - which contains the kernel portion of the Windows user interface and related infrastructure.Proof-of-concept code showing how to crash vulnerable Win 7 boxes has been leaked: the simple HTML script, when opened in...
  • Is America On The Verge Of Irrelevance? (The view from Europe?)

    12/21/2011 10:34:56 AM PST · by 2ndDivisionVet · 32 replies
    Worldcrunch / Die Welt ^ | December 21, 2011 | Alan Posener
    Essay: Are we witnessing the U.S. empire head into its final decline? Obama is drifting. Republican candidates inspire little confidence. But viewed from Europe, which is more skeptical than ever, it’s worth taking a closer look at a nation with the Peter Pan gift of never growing up. ******** BERLIN -- When it’s not busy with its own problems, Europe looks across the Atlantic and shakes its head. America would appear to be on an unstoppable downward spiral. While neo-conservative dreams of the “unipolar moment” disperse, troops are withdrawn from Iraq and Afghanistan, the ups and the downs of the...
  • Financial Panic Sweeps Europe As The Head Of The IMF Warns Of A “1930s Depression”

    12/17/2011 3:23:42 PM PST · by blam · 83 replies
    Financial Panic Sweeps Europe As The Head Of The IMF Warns Of A “1930s Depression”December 17, 2011 Are we on the verge of another Great Depression? Christian Lagarde, the head of the IMF, said this week that if dramatic action is not taken immediately we could actually see conditions "reminiscent of the 1930s depression" and that no country on earth "will be immune to the crisis". Right now, financial panic is sweeping across Europe, but most Americans are not too concerned about it because they simply don't understand how important the EU is. The truth is that the EU has...
  • More Upside For Gold As Government Spending Continues Unabated

    12/16/2011 4:51:46 PM PST · by blam · 7 replies
    The Daily Reckoning ^ | Bill Bonner
    More Upside For Gold As Government Spending Continues Unabated By Bill Bonner 12/16/11 Baltimore, Maryland – Have yourself a merry little depression. Dow up 45 points. Gold down $9. We’re still waiting for a major correction in the gold market. Each time one begins, it seems to run out of steam before doing any real damage. At yesterday’s closing price, $1,577, gold is still solidly ahead for the year. So, where’s the soft spot? Where’s the test? Where will it come from? When? Don’t worry, dear reader, Mr. Market will test us. He’ll throw his curve ball. We have to...
  • IMF chief warns of new Great Depression

    12/16/2011 10:31:50 AM PST · by Olog-hai · 17 replies
    EU Observer ^ | 16.12.2011 @ 09:29 | Valentina Pop
    International Monetary Fund (IMF) chief Christine Lagarde has warned the Great Depression of the 1930s may repeat itself unless the EU pulls together and gets foreign help. Fresh unemployment statistics added to the gloom by highlighting the social cost of austerity. “If the international community does not work together, the risk from an economic point of view is that of retraction, rising protectionism, isolation. This is exactly the description of what happened in the Thirties and what followed is not something we are looking forward to," Lagarde said in a speech delivered to the US State Department on Thursday (15...
  • Are We At The Beginning Of A 25-Year Recession?

    12/15/2011 6:50:51 PM PST · by blam · 12 replies
    The Week ^ | 12-15-2011
    Are We At The Beginning Of A 25-Year Recession?The world economy faced a similar slump in the 19th Century. And it wasn't pretty posted on December 15, 2011, at 10:39 AM Our currency economic crisis has some troubling historic parallels with the "Long Depression" that began afflicting America in the 1870s. The current economic slump won't end any time soon, says Matthew Lynn in MarketWatch. The current crisis eerily resembles one that brought the financial world to its knees in the 1870s. A new industrial power — back then it was Germany, now it's China — had rocketed to the...
  • 'Dismal' prospects: 1 in 2 Americans are now poor or low income

    12/15/2011 8:31:39 AM PST · by Qbert · 43 replies · 1+ views
    AP via MSNBC ^ | 12/15/2011 | AP
    WASHINGTON - Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income. The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.
  • Unpopular Cures For Unemployment And Economic Depression

    12/14/2011 3:22:56 PM PST · by blam · 1 replies
    The Daily Reckoning ^ | 12-14-2011 | Bill Bonner
    Unpopular Cures For Unemployment And Economic Depression By Bill Bonner 12/14/11 Baltimore, Maryland – So far, so good. Things keep happening, more or less as they should. That is, the US and European economies keep falling apart. And the fixers keep failing to put them back together again. Just as we expected. Trying to fix a depression it is not only expensive…. The US government spends $1.60 for every $1 it receives in taxes. This is a recipe for a disaster, not for a recovery. Worse. It actually prevents a real recovery from happening, by blocking the market’s natural self-healing...
  • Kitco Metals Roundup:Comex Gold Hammered Lower, Hits 3-Month Low, On Panic Selling

    12/14/2011 1:41:43 PM PST · by Mariner · 45 replies · 1+ views
    Kitco News ^ | 12/14/2011 | Jim Wyckoff
    (Kitco News) - Comex February gold futures prices careened lower and hit a fresh nearly three-month low on follow-through selling pressure from the strong losses posted in afternoon trading Tuesday. It was a “risk-off” trading day in the market place Wednesday, and that was very bearish for the precious metals. A stronger U.S. dollar and sharply lower crude oil prices were also major bearish factors for gold Wednesday. Fresh, serious near-term technical damage has been inflicted in gold this week. February gold last traded down $76.80 at $1,586.60 an ounce. Spot gold last traded down $47.00 an ounce at $1,584.50....
  • Barack Obama on economic crisis: 'We didn't know how bad it was'

    12/13/2011 5:24:27 PM PST · by ColdOne · 62 replies
    Politico44 ^ | 12/13/11 | JENNIFER EPSTEIN
    President Barack Obama said Tuesday he wishes he knew the full extent of the economic crisis when he took office, if only so he could have let Americans know just how tough the coming years would be. "I think we understood that it was bad, but we didn’t know how bad it was,” Obama said in an interview with KIRO in Seattle. "I think I could have prepared the American people for how bad this was going to be, had we had a sense of that." Obama’s comments came as he sat down with a string of local TV reporters...
  • What Happens When World’s Economic Growth Engine Goes Kaput

    12/10/2011 4:42:48 AM PST · by blam · 20 replies
    Daily Reckoning ^ | 12-9-2011 | Daily Reckoning
    What Happens When World’s Economic Growth Engine Goes Kaput The Daily Reckoning Dec. 9, 2011, 2:53 PM Europe is the world’s biggest economy. It is menaced by bank and government debt defaults. It is growing old and has far more social spending obligations than it can afford. It is paralyzed by competing national governments and decentralized financial institutions. It can say ‘drop dead’ in 17 different languages. And if Europe goes into a deep or prolonged economic slump, the rest of the world follows. Because Europe is a big customer, not only for Asia, but for America too. The only...
  • New economic indicators point to “decelerating” economy

    12/05/2011 9:35:25 AM PST · by Hojczyk · 5 replies
    Hot Air ^ | December 5,2011 | ED MORRISSEY
    First, the report from Commerce on durable-goods orders offers a wan outlook on manufacturing: New orders for manufactured goods in October, down two consecutive months, decreased $1.6 billion or 0.4 percent to $450.0 billion, the U.S. Census Bureau reported today. This followed a 0.1 percent September decrease. Excluding transportation, new orders increased 0.2 percent. Shipments, up five consecutive months, increased $2.6 billion or 0.6 percent to $455.4 billion. This followed a 0.3 percent September increase. Unfilled orders, up eighteen of the last nineteen months, increased $1.8 billion or 0.2 percent to $885.9 billion. This followed a 0.6 percent September increase....
  • STEVE KEEN: The Best We Can Hope For Is Japanese Style Stagnation (Already In Depression)

    12/03/2011 5:27:09 AM PST · by blam · 9 replies
    TBI ^ | 12-3-2011 | Gus Lubin
    STEVE KEEN: The Best We Can Hope For Is Japanese Style Stagnation Gus Lubin Dec. 3, 2011, 6:45 AM If you haven't heard of him, think of Steve Keen as the Nouriel Roubini of Australia: a vocal economist who pissed people off for predicting the recession before it happened, and is still pissing people off predicting further economic crisis. In fact Keen says the world in another Great Depression, where developed countries would be lucky to come out as easily as Japan. Here's an excerpt from his interview with BBC's HardTalk: HT: Do you really think we’re headed for another...
  • Fed Warns Unemployment May Double Great Depression

    11/27/2011 5:29:36 AM PST · by radioone · 103 replies
    Big Government ^ | 11-25-11 | Chriss W. Street
    I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then on Wednesday, the Federal Reserve rocked financial markets by forcing America’s 31 largest U.S. banks to “stress test” balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.
  • Bix Weir and the RoadtoRoota

    11/27/2011 6:14:23 AM PST · by appeal2 · 1 replies
    Bix Weir of joins us today to talk about gold and silver manipulation and the impending collapse of the world fiat money system. Bix has been studying economic history and the markets for a long time and has arrived at the conclusion that once the collapse occurs, it will be the largest debtors who fare the best. And of all the debtor nations, the United States stands head and shoulders above the rest. According to Bix gold and silver are still screaming bargains who's time will soon come. He believes that eventually the gold to silver ratio will go...
  • Trouble

    11/25/2011 1:47:55 PM PST · by blam · 14 replies · 1+ views
    TEC ^ | 11-25-2011
    TroubleNovember 25, 2011 The global economy is heading for a massive amount of trouble in the months ahead. Right now we are seeing the beginning of a credit crunch that is shaping up to be very reminiscent of what we saw back in 2008. Investors and big corporations are pulling huge amounts of money out of European banks and nobody wants to lend to those banks right now. We could potentially see dozens of "Lehman Brothers moments" in Europe in 2012. Meanwhile, bond yields on sovereign debt are jumping through the roof all over Europe. That means that European nations...
  • Dow, S&P Log Worst Thanksgiving Week Since 1932 (CNBC)

    11/25/2011 12:49:30 PM PST · by tcrlaf · 18 replies
    CNBC ^ | 11-25-11 | By: JeeYeon Park
    Stocks closed in negative territory in thin, shortened trading Friday as investors were reluctant to go long ahead of the weekend and amid ongoing worries over the euro zone. The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis. The Dow Jones Industrial Average erased their gains to finish lower, led by H-P [HPQ 25.39 -0.39 (-1.51%) ] and Chevron [CVX 92.29 -1.46 (-1.56%)]. The S&P 500 and the Nasdaq also ended lower, logging a seventh consecutive decline. Some traders are watching for 1,150 on the S&P as the next key level. The...
  • This Is What People Ate When They Had No Money During The Depression

    11/18/2011 7:47:54 PM PST · by blam · 494 replies
    TBI ^ | 11-18-2011 | Vivian Giang
    This Is What People Ate When They Had No Money During The Depression Vivian Giang Nov. 18, 2011, 12:25 PM Image: Library of Congress, Prints & Photographs Division, FSA-OWI Collection If you've ever visited anyone's house for dinner and a big, sloppy "secret family recipe" dish is flopped down in front of you, chances are high that the messy goodness could have originated from the Depression era. Families were taught to creatively stretch out their food budgets and toast, potatoes and flour seem to be the popular, inexpensive ingredients. Expensive meat was typically eaten only once a week. Some foods...
  • The Mother Of All Dreads, Global Economy On The Brink

    11/18/2011 6:58:12 PM PST · by blam · 30 replies
    TMO ^ | 11-18-2011 | Ramy Saadeh
    The Mother Of All Dreads, Global Economy On The Brink Interest-Rates / Global Debt Crisis Nov 18, 2011 - 11:22 AM By: Ramy Saadeh Ramy Saadeh writes: The World is on the brink of a cataclysmic spiral that could make the Greek crisis look like a walk in the park. Interestingly, markets still seem very hushed about the emerging risks ahead; the final bell hasn’t rung yet, can this be it?The trigger of the dreadful events could come as soon as the 23rd of November 2011, as the “Super Committee”, who is expected to set forth a long awaited plan...