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Keyword: obamanomics

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  • For young Americans, living with their parents is now the norm

    05/24/2016 7:46:47 PM PDT · by detective · 30 replies
    CBS MONEYWATCH copied on Truth Revolt blog ^ | May 24, 2016 | By AIMEE PICCHI
    In Obama's America, a third of all young adults between the ages of 18 and 34 are broke, single, and living with their parents. The Pew Research Center released its new study showing that Millennials are tipping the scales for the first time in modern history. From CBS Money Watch: About 32.1 percent of Americans between 18 to 34 years old lived in their parents' homes in 2014, edging out the 31.6 percent who were married or living with a partner in their own household, the analysis of Census data found. The remaining 36 percent either live alone, are single...
  • Caterpillar Retail Sales Fall For Record 41 Consecutive Months

    05/20/2016 6:44:50 PM PDT · by Lorianne · 18 replies
    Zero Hedge ^ | 19 May 2016 | Tyler Durden
    For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back... until December 2012 when comp sales once again turned negative and have been negative ever since. For the past 41 months! The breakdown showed that contrary to popular opinion, there has been no pick up in demand for heavy industrial machinery anywhere around the globe.
  • Pew: Middle class really is eroding

    05/14/2016 1:07:34 PM PDT · by Kaslin · 30 replies
    Hot Air.com ^ | May 14, 2016 | ED MORRISEY
    The rich get richer, the poor get poorer … but what happens to the middle class? It depends, according to a new study this week from Pew. In some metropolitan areas, the middle class move into the richer category, while in others it declines into the poorer. However, Pew’s research makes it clear that the middle class is narrowing: The American middle class is losing ground in metropolitan areas across the country, affecting communities from Boston to Seattle and from Dallas to Milwaukee. From 2000 to 2014 the share of adults living in middle-income households fell in 203 of the...
  • Claims for jobless aid reach highest level since early 2015

    05/12/2016 6:34:19 AM PDT · by Olog-hai · 12 replies
    Associated Press ^ | May 12, 2016 9:26 AM EDT | Paul Wiseman
    The number of Americans applying for unemployment benefits rose last week to the highest level since February 2015, more sobering news for the labor market after a disappointing April jobs report. The Labor Department reported Thursday that applications for jobless aid rose by 20,000 to a seasonally adjusted 294,000. The four-week average, a less volatile measure, rose by 10,250 to 268,250, highest in nearly three months. [] Todays jobless claims report was a surprise, and not a positive one, said Jim Baird, chief investment officer at Plante Moran Financial Advisors. Jobless claims have moved sharply higher in recent weeks, reinforcing...
  • Freight Rail Traffic Plunges: Haunting Pictures of Transportation Recession

    05/06/2016 12:39:42 PM PDT · by Sgt_Schultze · 40 replies
    Wolf Street ^ | Wolf Richter | 4 May 2016
    292 Union Pacific engines idled in Arizona Desert Total US rail traffic in April plunged 11.8% from a year ago, the Association of American Railroads reported today. Carloads of bulk commodities such as coal, oil, grains, and chemicals plummeted 16.1% to 944,339 units. - snip - Only five of the 20 commodity categories saw gains. Of the decliners, coal was the biggest. But petroleum products also plunged 25%, and grain mill products dropped 7%. Even without coal, carloads were down 3% year-over-year.
  • Labor Force Participation Rate Dropped to 62.8% In April: 94,044,000 Out

    05/06/2016 7:30:05 AM PDT · by xzins · 62 replies
    CNS NEWS ^ | 6 May 16 | Susan Jones
    The number of Americans not in the labor force last month totaled 94,044,000, 562,000 more than in March -- and the labor force participation rate dropped to 62.8 percent (near a 38-year low), following four straight months of slight improvement. When President Obama took office in Janaury 2009, the labor force partipation rate was 65.7 percent, after hovering in the 66-67 percent range for much of the George W. Bush presidency. The recession inherited by the Obama administration officially ended in June 2009, but the labor force participation rate continued to drop during Obama's two terms, hitting 62.4 percent in...
  • Sound the Alarm: New Obama Regulations Will Push Private Retirement Savings Into Government Accounts

    04/09/2016 5:29:50 PM PDT · by Libloather · 104 replies
    Townhall ^ | 4/08/16 | Katie Pavlich
    If you thought Obamacare was terrifying, just wait until you read about what President Obama's regulatory agencies are planning to do with your retirement savings. According to an alarming report in the Wall Street Journal, government regulators at the Labor Department will be implementing new rules at the end of the year that will eventually force private retirement investments into government accounts. How? By making private investment options, specifically IRAs, too burdensome, a liability and expensive. Bolding is mine.
  • 19 Facts That Prove Things In America Are Worse Than They Were Six Months Ago

    04/07/2016 9:49:03 PM PDT · by Nachum · 36 replies
    zero hedge ^ | 4/7/16 | tyler durden
    While we all very capable of discerning the 'recovery' facts from the peddled recovery fiction throughout President Obama's reign......a close up over the last six months suggests things are getting worse in a hurry. As The Economic Collapse blog's Michael Snyder details, while most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, that is not true at all. Has the U.S. economy gotten better over the past six months or has it gotten worse? In this article, you will find solid proof that the U.S. economy has continued...
  • Shocker cuts to Q1 growth pace show faltering economy

    03/28/2016 11:01:16 AM PDT · by upchuck · 18 replies
    cnbc ^ | March 28, 2016 | Patti Domm
    First-quarter growth is now tracking at just 0.9 percent, after new data showed surprising weakness in consumer spending and a wider-than-expected trade gap. According to the CNBC/Moody's Analytics rapid update, economists now see the sluggish growth pace based on already reported data, down from 1.4 percent last week. According to the rapid update, economists have a median forecast of 1.6 percent growth in first-quarter GDP, which includes their estimates for data not yet released. "It's not a polar vortex winter. You can't blame the weather this year. It's the consumer. I think there's a problem with the measurement but at...
  • Charlie Daniels: Obama Is Leaving America a Much Weaker and More Divided Nation

    03/03/2016 6:54:34 AM PST · by rktman · 16 replies
    cnsnews.com ^ | 3/2/2016 | Charlie Daniels
    I will be the first to admit that I have been bitterly disappointed in President Obama's tenure. Some of the disagreements are philosophical in nature: the fact that he believes in a different America than the one I believe in. Obamas vision is an America with a bigger government, more bureaucratic control and income redistribution, basically European-style socialism, which, in my opinion, is doing damage to the nation that will take decades to repair.
  • Exclusive: Poverty up, services diminished in Chicago's black neighborhoods - study

    03/02/2016 7:03:21 AM PST · by SoFloFreeper · 34 replies
    reuters ^ | 3/2/16 | MARY WISNIEWSKI
    Predominantly African-American neighborhoods in Chicago have seen poverty rise and services diminish even as the nation's third largest city has become less racially segregated, according to a study released on Wednesday. While Chicago has become more racially balanced over the decades with more neighborhoods showing no majority populations, black areas are seeing economic stagnation or decline, according to the study by the Chicago Urban League, which promotes progress for blacks. "This is not a situation that's getting better. This is a situation that's getting worse," said Stephanie Bechteler, director of research and evaluation for the Chicago Urban League. "We must...
  • U.S. stocks tumble to 22-month low as energy, financials drop

    02/08/2016 7:59:26 AM PST · by John W · 27 replies
    marketwatch.com ^ | February 8, 2016 | Ellie Ismailidou
    U.S. stocks tumbled Monday morning to their lowest level in 22 months as a fresh drop in oil prices amid continuing fears of economic slowdown pushed investors to the perceived safety of government bonds and gold. "Is the market throwing out the baby with the bath water?"said James Meyer, chief investment officer at Tower Bridge Advisors, referring to the "rapid fall in prices for the high flying tech and biotech names that have been leading the market for the past 12 months." "The former leaders of the previous bull cycle are the ones that get taken to the woodshed in...
  • So this is what 'full employment' looks like? [That's essentially what we have today]

    02/07/2016 7:29:45 AM PST · by SeekAndFind · 25 replies
    CNBC ^ | 02/07/2016 | Jeff Cox
    For more than seven years, Federal Reserve officials have touted their progress toward achieving "full employment," with the most recent target a 4.9 percent unemployment rate. With Friday's nonfarm payrolls report showing that the goal has been achieved, perhaps the Fed can raise the "Mission Accomplished" banner along with a welcome mat to the world of "full employment." The jobless rate last reached this level in February 2008, following a run from June 2005 to April 2008 during which unemployment never eclipsed 5 percent. Getting a "4-handle" on the number -- using Wall Street lingo -- was supposed to represent...
  • Why doesn't 4.9% unemployment feel great?

    02/07/2016 7:05:54 AM PST · by Citizen Zed · 27 replies
    cnn money ^ | 2-6-2016 | Heather Long
    1. Only 62.7% of adult Americans are working. The so-called Labor Force Participation rate hasn't been this low since the late 1970s. ... 2. Long-term unemployment is still high. ... About 2.1 million Americans have been unable to get a job for over half a year. The government calls these people the "long-term unemployed." ... 3. Wage growth is anemic. ... The typical take home pay (often called "median income" by the Census Bureau) is about the same today as it was 20 years ago, once you adjust for inflation. In other words, middle class families aren't really getting ahead....
  • Dow logs nearly 300-point loss as oil sinks below $30

    02/02/2016 2:24:13 PM PST · by John W · 21 replies
    marketwatch.com ^ | Februry 2, 2016 | Ellie Ismaildou
    Wall Street stocks ended sharply lower Tuesday as investors unloaded energy and financial stocks amid a selloff in crude-oil futures, which settled below $30 a barrel. The downdraft in energy shares and banks offset strong gains in Google parent Alphabet Inc.-which officially surpassed Apple Inc. to become the most valuable company in the world-toy maker Mattel, and fashion retailer Michael Kors. A fresh 5.5% slump in oil prices following a 6% slide Monday, weighed on energy companies' stocks. The energy sector had the worst performance of the S&P 500's 10 sectors, down 3.3%, followed by financials, declining 2.6%.
  • U.S. stocks fall after Fed statement

    01/27/2016 11:50:47 AM PST · by John W · 14 replies
    marketwatch.com ^ | January 27, 2016 | Anora Mahmudova & Sara Sjolin
    U.S. stocks moved back into the red Wednesday after the Federal Reserve left interest rates unchanged and said "economic growth slowed" since its last meeting in December. "Inflation is expected to remain low in the near term," the Fed said in new, more cautious language, that suggests the central bank won't be quick to raise interest rates again. "Lower oil prices and weak global economic growth would make the Fed more cautious about its tightening policy. The second interest rate increase in March has become unlikely," said Jia Liu, research fellow at the American Institute for Economic Research in emailed...
  • Economic Activity Is Slowing Down Much Faster Than The Experts Anticipated

    01/25/2016 5:44:17 PM PST · by SkyPilot · 66 replies
    The Economic Collapse ^ | 25 Jan 16 | Michael Snyder
    We have not seen global economic activity fall off this rapidly since the great recession of 2008. Manufacturing activity is imploding all over the planet, global trade is slowing down at a pace that is extremely alarming, and the Baltic Dry Index just hit another brand new all-time record low. If the "real economy" consists of people making, selling and shipping stuff, then it is in incredibly bad shape. Here in the United States, the dismal economic numbers continue to stun all of the experts. For example, on Monday we learned that the Texas general business activity index just...
  • Obamanomics in Catastrophic Action: New mortgage program steering toward another housing collapse

    01/22/2016 8:42:52 AM PST · by SeekAndFind · 23 replies
    FrontPage Mag ^ | 01/22/2016 | John Perazzo
    Remember a few years ago, when the American housing market collapsed as a direct result of government policies that—in the name of racial justice—pressured banks to approve mortgage loans for massive numbers of underqualified nonwhite applicants? Remember how that collapse set in motion the financial crisis that then-presidential candidate Barack Obama repeatedly called “the worst economy since the Great Depression”? And remember how Obama—who had long been a leading proponent of precisely the policies that had triggered the crisis—cast himself as the savior who was going to restore fiscal sanity and untangle the whole big mess? Well, now Savior Obama...
  • Stockman: We are at peak debt headed for a recession

    01/21/2016 8:22:39 PM PST · by Pan_Yan · 59 replies
    CNBC ^ | January 21, 2016 | David Stockman
    Video at link. David Stockman (Office of Budget and Management, Reagan Administration) explains why the market will not be going up any time soon.
  • CBO Issues Dire Warning on U.S. Government finances

    01/20/2016 5:27:15 PM PST · by Lorianne · 38 replies
    China Money Report ^ | 20 January 2016 | D. Collins
    Government estimates of debt over the next decade have gone from adding $1.5 trillion in debt to $9.4 trillion due to recent tax legislation. That will put the country up over $30 trillion in debt assuming there are no further recessions. This is the decade of no return. Seems blowing up peoples countries and importing their poor and putting them on benefits is no longer working. We have also tried closing all our factories and letting the world scam us out of jobs in the “free trade” system. World’s highest tax rates…not seeming to help either. Cramming people into “universities”...
  • CEOs Around the World Are Running Scared

    01/20/2016 12:02:23 PM PST · by TigerClaws · 12 replies
    Confidence is at a low. The Davos man is, once again, less confident than he was a year ago. Only 27% of CEOs around the world think the global economy will improve in 2016, according to a new survey by PricewaterhouseCoopers. That was down from 37% a year ago; confidence peaked 2014 at 44%. The accounting and consulting firm released the survey of more than 1,300 top executives on the first official night of the World Economic Forum, the global confab held each year in Switzerland.
  • Markets In TurmOIL: Futures Plunge, Japan Enters Bear Market, Crude And Commodity Currencies Crash

    01/20/2016 4:51:34 AM PST · by Zakeet · 34 replies
    ZeroHedge ^ | January 20, 2016
    It all started early last night when the front month oil contract dipped below $28 giving a taste of what was to come. It was all downhill from there. First Chinese stocks ended the recent ramp higher, with the Shanghai Composite closing down 1% back under 3000, then Japan's rout accelerated with both the Nikkei (-3.7%) and the Topix Index sinking into bear markets, both falling more than 20% from their 2015 highs. [Snip] Yields on 10-year Treasuries dropped below 2 percent and the yen jumped to a one-year high. "It's back to oil and that's what is driving everything...
  • A key US economic indicator is on an ugly streak that has never occurred outside a recession

    01/19/2016 1:44:56 PM PST · by Nachum · 26 replies
    Yahoo ^ | 1/19/16 | Bob Bryan
    There has been increasing focus on the US economy's probability of heading into a recession. According to John Hussman of Hussman Funds, it's not just probable; it's nearly guaranteed. "Since October, the economic evidence has shifted from supporting a growing risk of recession, to a guarded expectation of recession, to the present conclusion that a US recession is not only a risk but an imminent likelihood, awaiting confirmation that typically only emerges after a recession is actually in progress," Hussman said in a post Monday. His key piece of evidence stems from Friday's US report on industrial production. The data...
  • All Stock Markets Down (noon, EST): DOW -475,NASDAQ,AMEX, S&P -175..."Not Oboma's Fault" ABCNNBCBS

    01/15/2016 9:52:43 AM PST · by Robert A. Cook, PE · 10 replies
    http://www.nasdaq.com/markets/ ^ | 01-15-2016 | RACookPE1978
    Not much to say ... Only another few trillion lost from the pension funds, IRA's and 401K invested "for the future" ... So, when will the powers-that-be decide that "money" trumps "their liberal ideology" so the money stops protecting and defending democrat politics?
  • Dow plunges 500 points as fear grips markets

    01/15/2016 9:50:06 AM PST · by dragnet2 · 131 replies
    CNN.com ^ | 1/15/2015 | Matt Egan
    The Dow plunged 500 points on Friday afternoon, leaving it on track for the worst day since the late August market freakout. The S&P 500 fell 3.3%, while the Nasdaq lost 4%.
  • Dow briefly falls 500; S&P takes out Aug. low, falls 3%

    01/15/2016 9:46:33 AM PST · by TigerClaws · 16 replies
    U.S. stocks traded sharply lower Friday after a slew of disappointing U.S. data, a fresh plunge in oil, taking it below $30 a barrel, and a sell-off in Chinese stocks added to mounting concerns about slowing global growth. The S&P 500 fell below its August low of 1,867, briefly trading 3.5 percent lower in midday trade. The Nasdaq composite lost more than 4 percent in midday trade. "I think it means we can continue to go lower. ... Crude continues to struggle as we continue to get mixed signals from China," said JJ Kinahan, chief strategist at TD Ameritrade.
  • DJIA -496 (-3%)

    01/15/2016 9:47:19 AM PST · by kidd · 117 replies
    MSN ^ | 1/15/2016 12:45 (EDT) | MSN
    Opened at 16,354.33 Down 496.57 Down 3.03%
  • The State of the Nation: A Dictatorship Without Tears

    01/13/2016 8:56:06 AM PST · by Perseverando · 5 replies
    The Rutherford Institute ^ | January 11, 2016 | John W. Whitehead
    “There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution.”—Aldous Huxley There’s a man who contacts me several times a week to disagree with my assessments of the...
  • Tavis Smiley: On Every Leading Economic Issue Black Americans Have Lost Ground Under Obama [video]

    01/12/2016 7:27:04 AM PST · by grundle · 17 replies
    Getaway Pundit ^ | January 11, 2016
    On Monday night urban radio show host Tavis Smiley told Megyn Kelly Barack Obama has failed black Americans as president. Megyn Kelly: On the subject of race, are we better off today that seven years ago? Tavis Smiley: I'm not sure we are and I think ultimately the president missed a moment... On every leading economic issue, in the leading economic issues Black Americans have lost ground in every one of those leading categories. So in the last ten years it hasn't been good for black folk. This is the president's most loyal constituency that didn't gain any ground in...
  • 'Nothing Is Moving,' Baltic Dry Crashes As Insiders Warn 'Commerce Has Come To A Halt'

    01/11/2016 12:07:50 PM PST · by Gritty · 54 replies
    Zero Hedge ^ | 01/11/2016 | Tyler Durden
    The continued collapse of The Baltic Dry Index remains ignored by most - besides we still have Netflix, right? But, as Dollar Vigilante's Jeff Berwick details, it appears the worldwide 'real' economy has ground to a halt!! Last week, I received news from a contact who is friends with one of the biggest billionaire shipping families in the world. He told me they had no ships at sea right now, because operating them meant running at a loss. This weekend, reports are circulating saying much the same thing: The North Atlantic has little or no cargo ships traveling in its...
  • Bill Clinton’s damning indictment of Obamanomics (Hussein sucks?)

    01/09/2016 3:38:50 PM PST · by Libloather · 4 replies
    NY Post ^ | 1/08/16 | Deroy Murdock
    Bill Clinton flew to New Hampshire and unsealed an indictment against Obama's economy. Campaigning in Exeter, Hillary's "secret weapon" told Granite State voters Monday, "I think this election is about restoring broadly shared prosperity, rebuilding the middle class, giving kids the American Dream back." The former president may have seemed to hammer some far-Right Republican president who gleefully impoverishes average Americans while enriching his fellow plutocrats. However, a far-Left Democrat has been president for seven years this month. Thus, the economic stagnation that Clinton critiqued is Obama's. In Obama's first or second year, Clinton might have managed to blame Baby...
  • The U.S. Economy’s Latest Growth Is Looking Increasingly Frail

    01/06/2016 3:30:47 PM PST · by Citizen Zed · 3 replies
    wsj ^ | 1-4-2016 | JOSH MITCHELL
    The first week of 2016 has brought sinking temperatures and stocks-and now weaker estimates of economic growth for the fourth quarter. Before Monday, the U.S. economy appeared to have ended 2015 on solid, though unspectacular, footing. Many economists were estimating that the nation's gross domestic product-or the sum of all goods and services produced-grew at an annual pace of roughly 2% in October through December. That would match the third quarter's pace and fall roughly in line with average growth throughout the current expansion. But those estimates are falling, due to weak readings Monday morning on the nation'd manufacturing and...
  • Most Americans are one paycheck away from the street

    01/06/2016 11:30:32 AM PST · by Citizen Zed · 80 replies
    MarketWatch ^ | 1-6-2016 | Quentin Fottrell
    Why aren't people saving? Millions of Americans are struggling with student loans, medical bills and other debts, says Andrew Meadows, a San Francisco-based producer of "Broken Eggs," a documentary about retirement. Central bankers hiked their short-term interest rate target last month to a range of 0.25% to 0.50% from near-zero, but that's still a small return for savings left in bank accounts. Indeed, personal savings rates as a percentage of disposable income dropped from 11% in December 2012 to 4.6% in August 2015, according to the Bureau of Economic Analysis , and now hover at 5.5%. More money and education...
  • US Factory Orders Deep In Recession - Tumble YoY For 13th Month In A Row

    01/06/2016 8:03:12 AM PST · by GilGil · 23 replies
    Zero Hedge ^ | 1/6/2016 | Tyler Durden
    US factory orders have never dropped this far for so long without the US economy overall being in recession. November's 4.2% YoY drop is the 13th consecutive monthly drop. Revisions to durable goods data shows a 1% drop in new orders ex-defense in November after rising 1.4% in October.. and as a reminder, this data was buoyed by a 46.9% surge in defense aircraft and parts orders to all-time highs. Factory Orders are flashing deep red recessionary indicators...
  • Internet and work

    01/04/2016 6:12:11 PM PST · by saleman · 86 replies
    Me
    I'm in the Automobile business and have been for about 25 years. Believe it or not the Auto business has gotten into the internet age. Big time! Heck, our dealership has only had a website for....maybe 8 years? Something like that. We don't have an internet dept. Salespeople receive internet leads based on a round robin type of thing. When an internet lead is sent then the first thing sent is an auto response. Then the salesperson responds with a template and if a phone number is included, a call. Here's the thing. As of today, sales people are required...
  • U.S. ISM manufacturing PMI falls to lowest since 2009 in December

    01/04/2016 8:55:17 AM PST · by tcrlaf · 7 replies
    Investing.com ^ | 1-4-2015 | Investing.com
    Manufacturing activity in the U.S. contracted at the fastest pace since July 2009 in December, dampening optimism over the strength of the economy and adding to uncertainty as to how fast the Federal Reserve will raise interest rates next year, industry data showed on Monday. In a report, the Institute for Supply Management said its index of purchasing managers fell to 48.2 last month from a reading of 48.6 in November. Analysts had expected the manufacturing PMI to inch up to 49.0 in December. The New Orders Index registered 49.2, an increase of 0.3 points from the reading of 48.9...
  • Cuomo orders homeless to seek shelter during cold spells

    01/03/2016 6:18:54 PM PST · by PROCON · 46 replies
    UPI ^ | Jan. 3, 2016 | Brooks Hays
    ALBANY, N.Y., Jan. 3 (UPI) -- On Sunday, New York Governor Andrew Cuomo signed an executive order require all homeless people to seek shelter when temperatures drop below freezing. The order directs state agencies -- including police, social services and others -- to take "all necessary steps to identify individuals reasonably believed to be homeless and unwilling or unable to find the shelter necessary for safety and health in inclement winter weather, and move such individuals to the appropriate sheltered facilities." The directive goes into effect Tuesday. A 2015 count tallied 88,250 homeless people in New York, statewide -- the...
  • Puerto Rico Is Greece, and These 5 States Are Next To Go

    01/03/2016 6:22:48 PM PST · by SeekAndFind · 31 replies
    Zero Hedge ^ | 01/03/2016 | Tyler Durden
    <p>As Wilbur Ross so eloquently noted, for Puerto Rico "it's the end of the beginning... and the beginning of the end," as he explained "Puerto Rico is the US version of Greece." However, as JPMorgan explains, for some states the pain is really just beginning as Municipal bond risk will only become more important over time, as assets of some severely underfunded plans are gradually depleted.</p>
  • US jobless claims rise to nearly 6-month high

    12/31/2015 12:01:58 PM PST · by Olog-hai · 8 replies
    The number of Americans filing for US unemployment insurance benefits jumped to a nearly six-month high last week during the Christmas holiday season, the Labor Department reported Thursday. Initial jobless claims rose by 20,000 to 287,000 in the week ending December 26. That marked the highest level of new claims, a sign of the pace of layoffs, since the first week of July. ...
  • Pending sales of previously owned homes unexpectedly fall

    12/30/2015 10:15:53 PM PST · by BenLurkin · 14 replies
    link only - Bloomberg
  • Lower Jobless Claims Don’t Point to Robust Labor Market

    12/24/2015 11:06:17 AM PST · by Steelfish · 7 replies
    Wall S. J ^ | ERIC MORATH
    Lower Jobless Claims Don’t Point to Robust Labor Market ERIC MORATH Dec. 24. The fewest Americans since 1973 will seek new unemployment benefits this year, but that doesn’t mean the labor market is back to full health. In total, less than 15 million American will make first-time requests for government assistance this year—about half as many claims as were made in 2009—and far fewer than the number filed during the 1980s and 90s when the economy was expanding at a stronger clip. But “the labor market is certainly not the healthiest it’s been since 1973,” said Goldman Sachs economist Zach...
  • We Are Now Entering The "Discovery" Phase Of Financial Collapse

    12/21/2015 9:36:56 AM PST · by Perseverando · 22 replies
    Zero Hedge ^ | December 21, 2015 | James H. Kunstler
    Theory du jour: the new Star Wars movie is sucking in whatever meager disposable lucre remains among the economically-flayed mid-to-lower orders of America. In fact, I propose a new index showing an inverse relationship between Star Wars box office receipts and soundness of the financial commonweal. In other words, Star Wars is all that remains of the US economy outside of the obscure workings of Wall Street — and that heretofore magical realm is not looking too rosy either in this season of the Great Rate Hike after puking up 623 points of the DJIA last Thursday and Friday. Here...
  • 'Fediculous!' Why the Fed's Loose Money Sank the Economy

    12/17/2015 5:30:29 AM PST · by xzins · 27 replies
    CBN ^ | 12-17-2015 | Stephen Moore
    Nothing is more bungled in Washington than the role of money in our economy- and that's saying a lot. Almost no one understands how our dollar policy works, and those that say they do are the ones who screwed things all up. The Fed has today bid farewell to seven years of its zero interest rate policy. Hooray. Wall Street is petrified because investors have become hyper-dependent on this zero rate scheme and the floods of dollars injected into the economy just as an addict craves crack cocaine. But the high from easy money, just as with any hallucinogenic drug,...
  • Consumers shutting down as US economy deflates

    10/15/2015 9:16:50 AM PDT · by Lorianne · 91 replies
    CNBC ^ | 14 October 2015 | Jeff Cox
    The math is pretty simple: A lack of purchasing power for consumers has led to a lack of pricing power for companies. When it comes to the U.S. economy big-picture outlook, the ramifications are more complicated, and not particularly pleasant. Wednesday's producer price index reading, showing a monthly decline of 0.5 percent, demonstrates a larger problem: At a time when policymakers are hoping to generate the kind of inflation that would indicate strong growth, the reality is that deflation is looming as the larger threat. Declining prices often would be treated as a net positive by consumers, but income weakness...
  • Record Homelessness in Los Angeles -- But Nobody Blames the Democrats

    09/23/2015 12:41:21 PM PDT · by Kaslin · 25 replies
    Rush Limbaugh.com ^ | September, 23, 2015 | Rush Limbaugh
    RUSH: Los Angeles. This is the LA Times: "LA to Declare 'State of Emergency' on Homelessness, Commit $100 Million -- Los Angeles elected leaders," as opposed to the unelected leaders, "announced yesterday that they would declare a 'state of emergency' and devote up to $100 million" toward housing and other services for homeless people. I know. I mean, there's all kinds of lines here just waiting. Why don't they disguise themselves as immigrants? Why don't they go pitch their tent or their shopping cart, whatever, near the border like they're immigrants. "The proposal, which was presented at the City Hall...
  • Study shows employers shifting more medical costs to workers

    09/22/2015 12:57:16 PM PDT · by Olog-hai · 27 replies
    Associated Press ^ | Sep. 22, 2015 3:22 PM EDT | Tom Murphy
    Employers are leaving a bigger chunk of the bill for care to workers who use their health insurance, and benefits experts see few signs of this trend slowing. Most companies now offer health coverage that requires employees to pay an annual deductible before insurance kicks in, and the size of that deductible has soared in the past decade, according to a survey released Tuesday by the Kaiser Family Foundation and Health Research & Educational Trust. The average general deductible for workers with single coverage totaled $1,077 this year, compared to only $303 in 2006. That deductible has climbed nearly seven...
  • Obama's Recovery In Just 9 Charts (must bookmark alert)

    09/16/2015 12:16:09 PM PDT · by Zakeet · 34 replies
    FRED = Federal Reserve Economic Data This is the perfect handout for just about discussion of the Democrats' libtard agenda!
  • Obama's Persistent Economic Malaise: An economy worse than any of his predecessors since FDR

    09/09/2015 7:37:02 AM PDT · by SeekAndFind · 11 replies
    American Thinker ^ | 09/09/2015 | Jeffrey Folks
    The August jobs report was hardly reassuring. On Friday, the Bureau of Labor Statistics reported net job creation of 173,000, far below estimates. There's no way to sugar-coat it, though White House officials attempted to do just that. They pointed out that the unemployment rate had fallen to 5.1%. But that was because another 200,000 workers had simply given up trying to find a good job. Good jobs are not being created because economic expansion has stalled. And expansion has stalled because Obama has presided over the greatest assault on free enterprise in our nation's history. It didn't...
  • 698K Native-Born Americans Lost Their Job In August

    09/07/2015 4:55:41 PM PDT · by SkyPilot · 36 replies
    Zero Hedge and Drudge ^ | 7 Sep 15 | Tyler Durden
    698K Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue...
  • Displaced Disney Cast Member: How They Replaced Me, Other Americans, With Cheap Foreigners On H1B...

    09/07/2015 11:07:16 AM PDT · by Enlightened1 · 138 replies
    Breitbart ^ | 09/07/15
    <p>As a patriotic and proud citizen of the United States, I have a story to share that has not only impacted my family, hundreds of colleagues, but also current and future United States workers.</p> <p>As I watched the grim faced Disney Executive, it was obvious that bad news was going to be delivered. The dead silence was broken when the Disney Executive made a harsh announcement. All of you in this room will be losing your jobs in the next 90 days. Your last day of employment for this company will be January 30, 2015. Your jobs have been given over to a foreign workforce. In the meantime you will be training your replacements until your jobs are 100 percent transferred over to them and if you dont cooperate you will not receive any severance pay. Also, if we dont feel confident that we have captured everything that you do we can, at our discretion, keep you longer than the 90 days until we have captured everything that you do with this job. Dont discuss this meeting with anybody else in the company. Everybody in the room was appalled at the message. I was completely silent thinking how this was going to affect my coworkers and how I was going to break the news to my wife and children back at home as I was the only person in my home with a steady job. How would I pay for all the expenses that go along with a home, a wife, and children?</p>