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Keyword: depression

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  • 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...
  • 'Cat ladies' more likely to commit suicide, scientists claim

    07/03/2012 6:06:53 AM PDT · by Perdogg · 27 replies
    Women who own cats are more likely to have mental health problems and commit suicide because they can be infected by a common parasite that can be caught from cat litter, a study has found.
  • Are You the Forgotten Man?

    07/02/2012 2:48:42 PM PDT · by tselatysr · 15 replies
    Tea Party Tribune ^ | 2012-07-02 14:44:06 | Dr. Phil
    By Dr. Phil Taverna I ran across this book in my travels. And it peaked my interest. Who was the Forgotten Man? According to Amity Shlaes, her book, The Forgotten Man  is someone that will peak your interest for sure. When I first saw the expression, I expected to see a book written by a commie liberal and it was about the plight of the blacks and minorities who can't seem to get a fair share no matter how much money we throw at them.This book is mainly about FDR the biggest commie of the 40's but it also gives you...
  • We Are Living in a ‘Modern-Day Depression’: David Rosenberg(1/5 household income from gov)

    06/27/2012 2:52:07 AM PDT · by TigerLikesRooster · 29 replies
    Yahoo!Finance ^ | 06/25/12 | Aaron Task
    We Are Living in a ‘Modern-Day Depression’: David Rosenberg By Aaron Task | Daily Ticker – Mon, Jun 25, 2012 8:13 AM EDT The Federal Reserve cut its growth forecast for the second half of 2012 and 2013 last week, raising concerns yet again about the potential for a "double-dip" recession. While some, notably the cycle watchers at ECRI, believe the U.S. economy is definitely heading for another recession (or already there), Gluskin Sheff's chief economist and strategist David Rosenberg goes a big step further. "We are living in a modern-day depression," he declares. This dramatic statement is based on...
  • The Black Hole Of Deflation

    06/26/2012 4:24:14 PM PDT · by blam · 69 replies
    TMO ^ | 6-26-2012 | Julian DW Phillips
    The Black Hole Of Deflation Economics / Deflation Jun 26, 2012 - 11:42 AM By: Julian DW Phillips The Global Picture and Where We Are Now For the last few years we've watched as the Credit Crunch morphed into the Sovereign Debt crisis in Europe, which may re-cross the Atlantic to hit the U.S. Treasury market. During that time, we have watched a series of patch-up jobs on the crisis that have only succeeded in prolonging the crisis without any real structural remedies. We've also watched how central bankers have seen the 'buck' passed to them, when their role is...
  • America's fearful future

    06/25/2012 1:42:59 PM PDT · by scottjewell · 32 replies
    Renew America ^ | June 25 2012 | Alan Caruba
    It's a cliché that nations and men repeat the same errors, stumbling into various crisises. The locations may change, but the patterns of history remain. The world is teetering on a new Great Depression. Democracies are at risk. In the 1930s there were an estimated two billion people worldwide. Today there are seven billion people in the world; the pressures to feed them and meet their other needs have increased exponentially. It strains relations between nations and within them. In the U.S. the Great Depression began in 1929 and lasted until the Japanese attack on Pearl Harbor in 1941 that...
  • Wealth implosion: It's not just housing

    06/21/2012 6:18:04 AM PDT · by TigerLikesRooster · 52 replies
    CNN Money ^ | 06/19/12 | Tami Luhby
    Wealth implosion: It's not just housing By Tami Luhby @CNNMoney June 19, 2012: 2:32 PM ET NEW YORK (CNNMoney) -- Americans' net worth collapsed in recent years, but don't blame the housing market for it all. A CNNMoney analysis of new Census Bureau data shows that if you strip out the effects of the housing collapse, median household net worth still fell by 25% between 2005 and 2010. The decline was driven largely by the plummeting stock market, which devastated Americans' portfolios and retirement accounts. Overall, median household net worth declined 35% to $66,740 in 2010. The median worth of...
  • Gray Matter: How Depressives Surf the Web

    06/17/2012 9:42:41 AM PDT · by thecodont · 83 replies
    The New York Times / NYTimes.com ^ | Published: June 15, 2012 | By SRIRAM CHELLAPPAN and RAGHAVENDRA KOTIKALAPUDI
    IN what way do you spend your time online? Do you check your e-mail compulsively? Watch lots of videos? Switch frequently among multiple Internet applications — from games to file downloads to chat rooms? Enlarge This Image Brian Cronin We believe that your pattern of Internet use says something about you. Specifically, our research suggests it can offer clues to your mental well-being. In a study to be published in a forthcoming issue of IEEE Technology and Society Magazine, we and our colleagues found that students who showed signs of depression tended to use the Internet differently from those who...
  • Carney’s Corner: 'The worst recession since the Great Depression' (video)

    06/12/2012 2:28:14 PM PDT · by Nachum · 7 replies
    Daily Caller ^ | 6/12/12 | Grae Stafford
    Jay Carney holds the position of White House press secretary — a job considered by many to be one of the hardest and most demanding in any administration. It has been held by such illustrious figures as Dana Perino, Ari Fleischer, Dee Dee Myers and, back in President Bill Clinton’s day, one George Robert Stephanopoulos. As press secretary, the job is to be an administration’s public face, and words must be chosen carefully, because the slightest misstep can come back to haunt both the representative and the administration. So, to help out during this election season, The Daily Caller will...
  • Paul Krugman: Economy under Obama in a Depression

    06/11/2012 9:27:14 AM PDT · by Nachum · 46 replies
    Washington Examiner ^ | 6/11/12 | Charlie Spiering
    Economist Paul Krugman had bad news for liberals Netroots Nation on Saturday. During his keynote speech the New York Times columnist admitted that the United States economy was suffering a depression. "We don't have a formal definition, I'd say that a Depression is when things are down, when things are terrible for an extended period of time," Krugman said, reminding them that were even "official" periods of recovery during the Great Depression. "So it is again today," he said. "It's not as bad as the Great Depression - there's a winning slogan," he added cynically.
  • Never-before-seen pictures capture everyday life of destitute Americans during the Great Depression

    06/09/2012 9:30:09 AM PDT · by djone · 80 replies
    Mail Online ^ | 6/8/12 | SNEJANA FARBEROV
    "And you thought it was bad now... Since the onset of the recession in 2007, pundits have compared the crisis to the Great Depression of the 1930s - but this week's release of 1,000 photographs from that bygone era serves as a reminder of how truly harsh that period was. "
  • Why the Job Numbers Are So Bad(Recovery Unemployment: 4/5 is a Drop in Labor Force Participation)

    05/28/2012 7:14:46 AM PDT · by Son House · 14 replies
    CNBC ^ | 4 May 2012 | Peter Morici
    The unemployment rate fell to 8.1 percent because another 522,000 adults quit looking for work and are no longer counted. In the weakest recovery since the Great Depression more than four-fifths of the reduction in unemployment has been accomplished by a dropping adult labor force participation rate—essentially, persuading adults they don’t need a job, or the job they could find is not worth having. In the first quarter, growth slowed to 2.2 percent and was largely sustained by consumers taking on more debt, and additions to business inventory. Gains in manufacturing production have not instigated stronger improvements in employment largely...
  • 2013 coming tax increases (does this math look correct?)

    05/11/2012 10:10:29 AM PDT · by TurboZamboni · 11 replies
    me ^ | 5-11-12 | TurboZamboni
    By allowing the 2003 Bush tax cuts to retire, taxes will be increasing the bottom rate from 10% to 15% and the 20% bracket to 25%.   is this math correct? :    Raising the 10% bracket to 15% represents what percentage of increase? (Hint: The correct answer is NOT 5%)To those moving from the 10% bracket to 15%, their taxes will be increased by 50%!!   Raising the 20% bracket to 25% represents what percentage of increase? (Hint: The correct answer, again, is NOT 5%)it's s a full-blown 25% increase in taxes   Finally, raising the 35% bracket to...
  • Rising US recession risk poses the real threat to Europe

    05/20/2012 4:43:23 PM PDT · by bruinbirdman · 11 replies
    The Telegraph ^ | 5/20/2012 | Ambrose Evans-Pritchard
    The US economy has slowed to stall speed. A few lonely forecasters fear that America has already fallen back into recession, replicating the terrible double-dip of 1937. Obama's intended success? The Philly Fed’s manufacturing index dropped suddenly to minus 5.8 in May. The US Conference Board’s index of leading indicators fell in April. Job creation has slipped from 250,000/month to nearer 130,000 in March and April. The Economic Cycle Research Institute (ECRI) says post-War personal income growth in the US has never been this weak for three months in a row without triggering a recession. It has happened ten out...
  • What Happens When the World Economy “Goes Japan”

    05/16/2012 4:52:50 PM PDT · by dennisw · 15 replies
    dailyreckoning ^ | By Bill Bonner
    The Dow sinking.Gold sinking.Oil sinking.Copper sinking.Yields sinking.  We struggled with this, Dear Reader. We meditated. We prayed. We drank heavily.And finally…we overcame the rank desire to say: “We told you so!”As you know, Martin Wolf, of The Financial Times, is the voice of The Economics Establishment. All that is great and good in the field — which isn’t very much — is given voice by Wolf. Then, it is acceptable for policymakers, Treasury ministers, and central bankers, not to mention the people you talk to at cocktail parties.And lo! Here cometh the neo-Keynesian economist. What saith he?He says the world...
  • Correction Fighting: How Feds Prolong Economic Depressions

    05/16/2012 2:50:32 PM PDT · by blam · 1 replies
    The Daily Reckoning ^ | 5-16-2012 | Bill Bonner
    Correction Fighting: How Feds Prolong Economic Depressions By Bill Bonner05/16/12 Baltimore, Maryland – “Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate… it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.” — Andrew Mellon Down, down, down… Oil is at a 5-month low. Russian stocks are 20% below their high. Commodities are back to 2010 levels. Everything is going down. Even gold. Wait a minute. Since we...
  • The All-Important Question, Are Major Economies in Recovery?

    05/15/2012 8:10:37 PM PDT · by blam · 18 replies
    TMO ^ | 5-15-2012 | David Galland
    The All-Important Question, Are Major Economies in Recovery? Economics / Global Economy May 15, 2012 - 04:58 PM By: David Galland David Galland, Casey Research writes: For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses. Stating the obvious, if the broader economy really is in recovery, then investors would be well served by investing in...
  • Flashback: Bill O'Reilly: What Presidents Obama and Carter Do Not Understand

    05/02/2012 9:42:57 AM PDT · by Son House · 6 replies
    FOXNEWS ^ | September 16, 2011 | Bill O'Reilly
    You don't see much of President Carter these days. At 86, he keeps a rather low profile. But he does believe Barack Obama will win re-election next year, even though he seems to understand that Mr. Obama is in deep trouble. In fact, Carter believes the president is facing the same dilemma he did: JIMMY CARTER, FORMER PRESIDENT OF THE UNITED STATES: Sen. Ted Kennedy had decided to run against me, and some of the more liberal Democrats didn't want to see me have successes. So I experienced a little bit of what President Obama experiences every day; that is...
  • Obama Spam (3 in one day!) + bonus [Barf Alert]

    04/30/2012 8:38:19 PM PDT · by FreeAtlanta · 5 replies
    Obama spam email | 04/30/2012 | Obama Spam
    The first 3 are from today, the bonus is from yesterday. Maybe, it is a sign of desperation? I hope.First: [sucker] - I've been getting a ton of questions about the George Clooney contest -- what are the odds? Will you pick my mom? Can staff win? (For the last time, the answer's no.) Honestly, I really don't care who wins unless you're talking about Election Day. But if you're counting the hours to when the winners are picked, I won't judge -- and congrats if you're one of them. What I'm counting is how many people step up between...
  • 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 GuitarPlayer.com, 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
    http://www.businessinsider.com/study-company-us-2012-4 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...