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Keyword: recession

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  • One Weird Chart That Explains the Great Recession

    10/01/2015 8:05:57 AM PDT · by SeekAndFind · 10 replies
    American Thinker ^ | 10/01/2015 | Christopher Chantrill
    Everybody knows that “greedy bankers” were to blame for the Crash of 2008. The Democrats and their willing accomplices told us that years ago and they are sticking to their story. But there is another suspect that ought to be right in the dock along with the bankers. Its mild-mannered name is “agency debt.” It’s the debt of federal agencies and government-sponsored enterprises (GSEs) that is not included in the National Debt. In other words, when you go to the U.S. Treasury’s Debt to the Penny page, and find that on September 27, 2015 the debt was $18,151,073,031,331.50 you...
  • Philippines seen among least at risk

    09/30/2015 8:34:10 PM PDT · by 2ndDivisionVet · 15 replies
    Business World ^ | September 30, 2015 | Mikhail Franz E. Flores, Senior Reporter
    THE PHILIPPINES appears least vulnerable to major risks that could darken the economic growth outlook and affect the sovereign credit scores of emerging markets, debt watcher Standard & Poors Ratings Services said in a new report. In a Sept. 29 report, titled: Whos at Risk? Emerging Market Sovereigns are Facing Adverse Global Trends, S&P cited three risks on the growth prospects of 22 emerging economies: capital outflows from developing to advanced markets once the Federal Reserve hikes interest rates, unwinding of domestic credit built up in recent years and Chinas economic growth slowdown. Among 22 markets it assessed, the Philippines...
  • The Stock Markets of the 10 Largest Global Economies Are All Crashing (And the media is silent)

    09/28/2015 6:25:25 AM PDT · by xzins · 55 replies
    Charisma News ^ | 28 Sep 15 | MICHAEL SNYDER
    You would think that the simultaneous crashing of all of the largest stock markets around the world would be very big news. But so far, mainstream media in the United States are treating it like it isn't really a big deal.Over the last 60 days, we have witnessed the most significant global stock market decline since fall 2008, and yet most people still seem to think that this is just a temporary "bump in the road" and that the bull market will soon resume. Hopefully they are right.When the Dow Jones Industrial Average plummeted 777 points on Sept. 29, 2008,...
  • Imagining the first term of a Trump presidency

    09/14/2015 2:56:54 PM PDT · by Kaslin · 42 replies
    Hot ^ | September 14, 2015 | JAZZ SHAW
    Marc Ambinder, writing at The Week, seems to have taken the next leap in the evolution of American politics this season and – at least as an exercise in theory – asked us to consider what a Trump presidency would look like. While the primary could still play out in any number of interesting ways, it seems well past the point where such a future can be entirely written off so Marc isn’t submitting this to some science fiction outlet. It’s true that supporters of the more “conventional” candidates could all coalesce around one Anti-Trump over the fall and winter...
  • Pain for Many on Labor Day

    09/09/2015 10:35:27 AM PDT · by Kaslin · 21 replies ^ | September 9 | Stephen Moore
    My 22-year-old son lives at home and still depends on his old man for spending money. My profoundest fear is that like Will Ferrell's character in "Wedding Crashers," he will never leave the nest. I'm not alone. There are some 20 million college grads living at home. A 2014 study reported by CNNMoney found that half of kids who are two years out of college rely on their parents to pay some or all of their bills. It's the new normal for 20-somethings. Gee, parents sure are getting a great financial return on the $150,000 they've shelled out for...
  • Canada PM pledges rebound as recession rocks reelection bid

    09/03/2015 7:08:22 AM PDT · by mac_truck · 3 replies
    Reuters ^ | 9/1/2015 | Leah Schnurr
    OTTAWA (Reuters) - Having staked his reputation on strong economic management, Canadian Prime Minister Stephen Harper has decided that the best way to win re-election when the headlines say recession is to convince the country it is no longer in one. Tuesday brought the worst kind of news for a prime minister campaigning for a rare fourth term in office: government data that confirmed Canada's economy contracted for the second quarter in a row, the technical definition of recession. But Harper shrugged off the data from the first half of the year, saying Canada had a "couple of weak months,"...
  • The main problem is not China but Obama financial regulations

    09/02/2015 8:41:08 AM PDT · by se99tp · 2 replies
    Deflationary Thoughts ^ | 09/02/2015 | Deflationary Thoughts
    What is the topic that dominates today conversations in financial circles? It isnt Greece, or the U.S. economy, or ChinaIt is the lack of liquidity in the markets and what this might mean for the world economyand their businesses. Market veterans say they have never experienced anything like it.
  • 12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

    08/16/2015 4:24:40 AM PDT · by SkyPilot · 49 replies
    Economic Collapse ^ | 11 Aug 15 | Michael Snyder
    Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not...
  • New Study Finds CRA 'Clearly' Did Lead To Risky Lending [Daniel 4]

    08/04/2015 7:52:58 AM PDT · by Jan_Sobieski · 24 replies
    Investor's Business Daily ^ | 12/20/2012 | PAUL SPERRY
    Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime mortgage crisis and recession. But a new study by the respected National Bureau of Economic Research finds, "Yes, it did. We find that adherence to that act led to riskier lending by banks." Added NBER: "There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts," or predominantly low-income and minority areas. To satisfy CRA examiners,...
  • U.S. factory activity dips; consumer spending cools

    08/03/2015 1:18:48 PM PDT · by BenLurkin · 7 replies
    reuters ^ | Mon Aug 3, 2015 2:02pm EDT | Lucia Mutikani
    The Institute for Supply Management said its national factory activity index fell to 52.7 last month from a reading of 53.5 in June. A reading above 50 indicates expansion in the manufacturing sector. A gauge of new orders received by factories rose to a seven-month high, while inventories continued to decline. There was growth in 11 of the 18 manufacturing industries, including furniture, fabricated metal products, electrical equipment, appliances and components, and transportation equipment. Five industries including machinery reported that production had contracted in July. Manufacturing has been hobbled by a strong dollar, which has pressured the profits of multinational...
  • Canada is in recession

    07/31/2015 7:14:19 AM PDT · by SeekAndFind · 28 replies
    Business Insider ^ | 07/31/2015 | Sam Ro
    Canada is in recession. Canadian GDP unexpectedly fell 0.2% in May. This was worse than the 0.0% expected by economists. "The economy has contracted in 6 out of the last 7 months," BNP's Derek Lindsay noted. The resource rich economy has felt the crushing pain of falling commodity prices as global demand for raw materials has decelerated. And relief doesn't seem to be coming any time soon. "We continue to see falling commodities prices weighing heavily on the economy, with mining, utilities, and manufacturing presenting biggest drags on the goods side," Lindsay said. And this probably means more easy monetary...
  • P&G results raise concerns about pace of turnaround (6 straight quarters of falling sales)

    07/30/2015 12:05:57 PM PDT · by Red in Blue PA · 13 replies
    (Reuters) - Procter & Gamble Co (PG.N) reported its sixth straight quarter of falling sales, hurt mainly by the stronger dollar. Even after stripping out the impact of the dollar and acquisitions, sales rose just 1 percent, raising concerns about the slow pace at which P&G is turning around its business. The company's shares fell as much as 4.3 percent in morning trading on Thursday, after it said sales would fall by a low-to-mid single-digit percentage in the year ending June 2016.
  • US cuts estimates for economic growth over past 3 years

    07/30/2015 7:12:17 AM PDT · by Red in Blue PA · 28 replies
    WASHINGTON (AP) -- The U.S. economy grew more slowly over the past three years than the government had previously estimated, held back by more frugal consumers and steeper spending cuts by state and local governments. Related Stories 1. US economy likely rebounded to solid growth rate in spring Associated Press 2. Chinas Stocks Drop for Second Day Before Economic Growth Data Bloomberg 3. Services, Finance and Oil Drive U.K. Growth to 0.7% Bloomberg 4. China June exports up 2.8 percent, imports down 6.1 percent Associated Press 5. Singapore Economy Contracts Most Since 2012 on Manufacturing Bloomberg The economy expanded at...
  • The 9-to-5 office workday is dying in America

    06/28/2015 4:43:41 PM PDT · by CorporateStepsister · 42 replies
    MSN News ^ | June 28 2015 | Max Nisen
    With the rise of flexible working schedules, the freelance economy, and video conferencing, more Americans are getting their jobs done without ever heading into an office, according to new data from the American Time Use Survey released by the Bureau of Labor Statistics. Among all workers, 23% report spending all or part of their day working from home. Thats up from less than 19% in 2003, the first year for which theres comparable data.
  • China central bank eases policy again to support economy

    06/28/2015 11:15:02 AM PDT · by BenLurkin · 3 replies
    reuters. ^ | Sat Jun 27, 2015 9:00am EDT | Kevin Yao and Nicholas Heath
    China's central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century. Saturday's combined easing highlights Beijing's concerns that money isn't flowing to some of the most-needed sectors in the economy and that stubbornly high borrowing costs that could fuel bankruptcies and job losses. The last time the central bank simultaneously cut interest rates and reserve requirements was at the height of the global financial crisis in late 2008....
  • Yet Another Double Standard in American Politics

    06/12/2015 11:04:44 AM PDT · by jfd1776 · 6 replies
    Illinois Review ^ | June 12, 2015 A.D. | John F. Di Leo
    In America, when friends learn that a woman is being abused by her husband or boyfriend, what do they do? They stage an intervention, help her find a lawyer, get a restraining order, get her out of there as fast as possible. When a son or daughter learns that an elderly parent is receiving bad care at a nursing home, what do they do? Pack up Dads or Moms stuff, help them move to a better, safer place, file a complaint with the states attorney or the board of health, press charges, but first and foremost, get them out of...
  • Americas lost decade

    06/05/2015 9:42:01 PM PDT · by 2ndDivisionVet · 7 replies
    NetRightDaily ^ | June 2, 2015 | Robert Romano
    The U.S. economy contracted at an inflation-adjusted 0.7 percent in the first quarter, the Bureau of Economic Analysis reports in its latest update. The bad news flies in the face of economic projections by the U.S. Federal Reserve, which had been predicting 2.6 to 3 percent growth for 2015 in December. That was downgraded to 2.3 percent to 2.7 percent in March. That had been considered a weak outlook at the time, with the economy not getting above 3 percent any time soon. And now, just to get to that modest 2.3 percent for the year, the economy will need...
  • It's Time To Call Off The Recession Watch

    06/05/2015 10:36:13 AM PDT · by blam · 19 replies
    AET/BI ^ | James Pethokoukis
    James Pethokoukis American Enterprise InstituteJune 5, 2015,a>nonfarm payrolls,American Enterprise Institute  That negative first-quarter GDP report now seems far less worrisome and far more an outlier than it did initially. Recently Goldman Sachs said “that given the uncertainty around GDP it is better to focus on other indicators—especially employment—to gauge the cumulative progress of the recovery and the remaining amount of slack.” By that measure, the U.S. economic recovery continues to plow forward after a slight early-year stumble. Nonfarm payrolls increased 280,000 in May, the largest gain since December, the Labor Department said this morning. Although the unemployment rate rose...
  • IMF Panics - Slashes US Growth Forecasts, Demands Fed Stay On Hold For Another Year

    06/04/2015 8:50:33 AM PDT · by tcrlaf · 15 replies
    Zerohedge ^ | 6-4-2015 | Durden
    Anxiety over financial stability and shadow banking risks appear to have force Christine Lagarde and her fellow extrapolators to hit the panic button: -IMF CUTS U.S. 2015 GROWTH FORECAST TO 2.5% FROM 3.1% -FED SHOULD WAIT FOR TANGIBLE SIGNS OF WAGE, PRICE GAINS: IMF -DOLLAR `MODERATELY OVERVALUED, CURBING U.S. GROWTH, JOBS: IMF -IMF URGES FED TO DELAY FIRST RATE INCREASE UNTIL 1H 2016 Adding that they viewed the Dollar as "moderately overvalued" and any more appreciation would be "harmful," it seems global disinflationary pressures have left the IMF no choice but to say publicly what everyone has uttered under their...
  • Failure To Thrive

    05/30/2015 5:35:02 AM PDT · by NOBO2012 · 1 replies
    Michelle Obama's Mirror ^ | 5-30-2015 | MOTUS
    Unprecedented! The U.S. economy has failed to thrive under Big Guy’s careful care and tending. First Quarter growth, originally reported to have at the robust pace of 0.2% in the first quarter, actually {{{horrors!}}} shrunk by 0.7%. That was far worse than the agency’s initial estimate that showed 0.2% growth, marking an abrupt reversal from the prior nine months when growth surged and the economy appeared on the verge of a long-delayed breakout.Long-delayed indeed: the recovery we've HOPEd for has been lurking around the corner for 6 years now. Yes, there’s light at the end of the tunnel, let’s hope...
  • Why dont Americans feel better about the economy?

    05/29/2015 11:16:11 PM PDT · by 2ndDivisionVet · 37 replies
    The Washington Post ^ | May 19, 2015 | Chico Harlan and Sarah Halzack
    If there was any time for American consumers to feel good, it would be this moment. Job growth is brisk. Paychecks are finally nudging up. And a surprise drop in gas prices has given the average household an extra $700 a year. But six years after the end of the Great Recession, Americans are startlingly anxious about their economic prospects. They are sitting on their money in a way that suggests that the consumer psychology may have fundamentally changed, with people less willing to spend than they were during other periods of economic prosperity. Government data released Friday showed that...

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

    05/28/2015 8:30:56 PM PDT · by SaveFerris · 28 replies
    Business Insider ^ | Thu, May 28, 2015, 11:30pm EDT - US Ma | By Myles Udland
    We're about to get some terrible news about the US economy. Sort of. On Friday morning at 8:30 a.m. ET, the Bureau of Economic Analysis will release its second estimate of first quarter GDP, which is expected to show the economy contracted 0.8% in the first quarter. The initial reading on first quarter GDP, released on April 29, showed the economy grew just 0.2%. Ahead of that report, Wall Street expected the economy grew 1% to start 2015. Subsequent data, however, showed that the economy was likely even weaker than first estimated to start the year. Some economists, however, either...
  • HSBC fears world recession with no lifeboats left

    05/26/2015 6:06:34 PM PDT · by 9thLife · 42 replies
    Telegraph ^ | 5:00PM BST 24 May 2015 | Ambrose Evans-Pritchard
    The world economy is disturbingly close to stall speed. The United Nations has cut its global growth forecast for this year to 2.8pc, the latest of the multinational bodies to retreat. It leaves a thin safety buffer against any economic shock - most potently if China abandons its crawling dollar peg and resorts to 'beggar-thy-neighbour' policies, transmitting a further deflationary shock across the global economy. ... Each of the past four US recoveries has been weaker than the last one. The average growth rate has fallen from 4.5pc in the early 1980s to nearer 2pc this time. ... The US...
  • US weekly jobless claims total 274,000 vs 271,000 estimate

    05/21/2015 5:30:16 AM PDT · by Red in Blue PA · 3 replies
    First-time claims for state unemployment benefits were expected to total 271,000 in the most recent week, up from 264,000 reported a week earlier.
  • 40 percent of unemployed have quit looking for jobs

    05/20/2015 9:30:24 PM PDT · by Red in Blue PA · 36 replies
    At a time when 8.5 million Americans still don't have jobs, some 40 percent have given up even looking. The revelation, contained in a new survey Wednesday showing how much work needs to be done yet in the U.S. labor market, comes as the labor force participation rate remains mired near 37-year lows. A tight jobs market, the skills gap between what employers want and what prospective employees have to offer, and a benefits program that, while curtailed from its recession level, still remains obliging have combined to keep workers on the sidelines, according to a Harris poll of 1,553...
  • How Government Inaction Ended the Depression of 1921

    05/20/2015 7:42:14 AM PDT · by all the best · 4 replies
    Mises Institute ^ | May 20, 2015 | Llewellyn Rockwell
    As the financial crisis of 2008 took shape, the policy recommendations were not slow in coming: why, economic stability and American prosperity demand fiscal and monetary stimulus to jump-start the sick economy back to life. And so we got fiscal stimulus, as well as a program of monetary expansion without precedent in US history. David Stockman recently noted that we have in effect had fifteen solid years of stimulus not just the high-profile programs like the $700 billion TARP and the $800 billion in fiscal stimulus, but also $4 trillion of money printing and 165 out of 180 months...
  • Shares struggle after data raises more questions on U.S. economy (U.S. economy shrank 0.9 percent?)

    05/17/2015 6:07:46 PM PDT · by Red in Blue PA · 16 replies
    Coming on the heels of weak retail sales and producer inflation data, the reports stoked concerns that the U.S. economy is hardly gaining momentum after disappointing 0.2 percent annualized growth in January-March. "U.S. GDP will likely be revised down in the next update to show a contraction. We estimate the U.S. economy shrank 0.9 percent," said Shuji Shirota, head of macro economics strategy group at HSBC in Tokyo.
  • The U.S. economy has left behind 20 million Americans

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

    05/15/2015 8:44:52 AM PDT · by Theoria · 29 replies
    WSJ ^ | 14 May 2015 | Ben Leubsdorf
    The U.S. economy had a really bad March, the worst since the financial crisis. But dont panic.The broadest gauge of U.S.economic output, from theCommerce Department, tracks the economy on a quarterly basis. The private forecasting firm Macroeconomic Advisers provides a measure to track gross domestic product on a monthly basis, highlighting some of the volatility that gets smoothed out in the official quarterly figures.Macroeconomic Advisers on Thursday said its monthly estimate showed GDP fell an inflation-adjusted 1% in March, the largest drop since December 2008, when the U.S. economy was in the throes of recession, the firm said. Monthly GDP...
  • Fox News Poll: Voters believe White House incompetent, US still in recession and ISIS has moved

    05/14/2015 11:05:21 PM PDT · by Olog-hai · 28 replies
    Fox News ^ | May 15, 2015 | Dana Blanton
    Majorities of voters feel the country is still in recession, think terrorists are living in their hometown and rate the Obama White House handling of the government as incompetent. Those are some of the findings from the latest Fox News poll released Thursday. Six in 10 voters think it is likely terrorists are living in their hometown (60 percent). Thats up from 48 percent who felt that way in 2007, the last time the question was asked, and back to about what it was nine months after the 9/11 terrorist attacks. In June 2002, 58 percent thought terrorists were in...
  • U.S. capital spending seen falling to four-year low in 2015

    05/14/2015 4:09:32 PM PDT · by Red in Blue PA · 1 replies
    NEW YORK, May 14 (Reuters) - U.S. corporate spending on capital projects could fall this year to the lowest level since 2011, with steep reductions by the energy industry and companies in other sectors cutting spending amid broad concerns about global growth. Among the S&P sectors, only the materials and financials sectors expect to spend more in 2015 than they did last year, according to a Thomson Reuters analysis of spending outlooks from the 255 S&P 500 companies that have offered guidance on their capex for the year.
  • Markets More: HSBC Bearish HSBC WARNS: The world economy faces a 'titanic problem'

    05/14/2015 6:15:18 AM PDT · by bushwon · 32 replies
    Business Insider ^ | 5/13/2015 | Stephen King
    HSBC chief economist Stephen King is already thinking about the next recession. In a note to clients Wednesday, he warns: "The world economy is like an ocean liner without lifeboats. If another recession hits, it could be a truly titanic struggle for policymakers." Here's King (emphasis added): Whereas previous recoveries have enabled monetary and fiscal policymakers to replenish their ammunition, this recovery both in the US and elsewhere has been distinguished by a persistent munitions shortage. This is a major problem. In all recessions since the 1970s, the US Fed funds rate has fallen by a minimum of...
  • Q2 GDP Forecast Cut To 0.7% By Atlanta Fed

    05/13/2015 11:34:01 AM PDT · by tcrlaf · 4 replies
    Zerohedge ^ | 5-13-2015 | Durden
    Zero Hedge first brought attention to the Atlanta Fed over two months ago, when the first massive divergence between bullish consensus and objective reality appeared. Since then it has been nothing but a downhill race for reality, with consensus scrambling to catch up. Moments ago, the Atlanta Fed just cut its Q2 GDP forecast once more, this time to 0.7% from 0.8%. This is on the back of a Q1 GDP which as of this moments is around -1.0%. From the Atlanta Fed: The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the second quarter of...
  • The US Is In Recession According To These 7 Charts

    05/13/2015 8:23:50 AM PDT · by SeekAndFind · 17 replies
    Zero Hedge ^ | 05/13/2015 | Tyler Durden
    The evidence continues to mount..."Most since Lehman" has become the new meme for macro-economic data in the US as day after day brings another lacklustre superlative to be dismissed with some excuse by the cognoscenti of sell-side economists...Of course, that is aside from anything related to aggregate jobs that is spewed by the government's official ministries of truth... (do not look at this chart)* * *So here are seven charts that scream "recession" is here...Retail Sales are weak - extremely weak. Retail Sales have not dropped this much YoY outside of a recession...And if Retail Sales are weak, then...
  • The Pain the Job Numbers Dont Show: Core of Americas workforce hasnt recovered from recession.

    05/09/2015 10:19:05 AM PDT · by SeekAndFind · 9 replies
    Fiscal Times ^ | 05/09/2015 | By Rob Garver
    It seems almost ungrateful to complain about the announcement that the U.S. added 223,000 jobs to the economy in April, dropping the official unemployment rate to 5.4 percent, particularly after the dismal showing in March. Economists saw those numbers as reason for a sigh of relief, as one put it. But the truth is that for many American workers, the jobs recovery hasnt yet provided real relief and there is still a lot of ground to cover before the country can be said to have truly recovered the losses from the Great Recession. The labor force participation rate remains...
  • Obama: I should have said that the recovery would take a really long time in 2008

    04/11/2015 5:22:22 AM PDT · by SeekAndFind · 37 replies
    Hotair ^ | 04/11/2015 | NOAH ROTHMAN
    Regrets, he’s had a few. But most of them have had to do with the rosy picture he painted of what the economy would look like following a swift infusion of “Obamanomics.” The president spent much of his time on the post-campaign campaign trail in 2009 promising that the unprecedented sum of money passed by Congress as part of the American Recovery and Reinvestment Act (the stimulus) would have a speedy and positive effect on the economy. Roads, bridges, and “shovel-ready” jobs would quickly put Americans back to work. When that massive sum of borrowed money failed to have...
  • Why the middle class is doing even worse than you think (the "green shoots" are long dead)

    04/08/2015 3:58:23 PM PDT · by Red in Blue PA · 14 replies
    One of the great mysteries about the U.S. economy today is the discrepancy between the objective and subjective pictures we have of the middle class. The numbers say that the middle class is doing OK or even improving its lot; middle class families themselves say they're being crushed under economic hobnail boots. ..... They combine the approaches and solve the mystery. In effect, they've shifted from defining middle class as merely anyone earning a middle-income to defining the class as a fairly stable demographic group and looking at how it's doing relative to middle income. By defining the middle class...
  • Something weird is going on --Investor Thread March 29, 2015

    03/28/2015 3:17:44 PM PDT · by expat_panama · 81 replies
    Weekly investment & finance thread ^ | Mar. 29, 2015 | Freeper Investors
    (excerpt from) Something weird is going on in the US economy, and it's not good...Despite experiencing a healthy pace of job growth, the US economy has largely disappointed economists' expectations by delivering a series of weaker-than-expected economic reports. The unexpected plunges in retail sales and durable goods orders stand out as they reflect weakness in both consumers and businesses. On Wednesday, Bloomberg LP Chief Economist Michael McDonough tweeted a chart of the unprecedented divergence between job growth and retail sales growth. This is concerning as personal consumption accounts for roughly 70% of US GDP. It's particularly concerning considering all...
  • McDonald's Latest Sales Are Worse Than Expected

    03/09/2015 4:13:51 PM PDT · by SkyPilot · 212 replies
    Forbes ^ | 9 March 15 | Staff
    McDonald's MCD +0.6% worldwide sales fell a more than expected 1.7% in February, marking nine consecutive months of declines. This comes a week after new CEO Steve Easterbrook assumed the top job. Easterbrook, who has said he considers himself an internal activist, is faced with reviving the lagging sales that cost previous CEO Don Thompson his job. U.S. sales fell 4%, as the fast food giant continues to face heavy competition from fast casual chains like Chipotle and Panera. Consumer needs and preferences have changed, said the company in a statement. McDonalds current performance reflects the urgent need to evolve...
  • New Orders Look Recessionary [So Why Is The Financial News Astonishingly Rosy?]

    03/09/2015 8:34:01 AM PDT · by SeekAndFind · 13 replies
    Of Two Minds ^ | 03/09/2015 | Charles Hugh-Smith
    The financial news is astonishingly rosy:record trade surpluses in China, positive surprises in Europe, the best run of new jobs added to the U.S. economy since the go-go 1990s, and the gift that keeps on giving to consumers everywhere, low oil prices. So if everything is so fantastic, why are new orders cratering?New ordersare a snapshot of future demand, as opposed to current retail sales or orders that have been delivered. Like most other economic data, the series is noisy, meaning there are plenty of spikes up and down. To cut through the clutter, we look for trends and patterns,...
  • Soft U.S. data hints at near-term hiccup in economic growth

    03/05/2015 12:59:56 PM PST · by Red in Blue PA · 12 replies
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid. They were also little perturbed by other data on Thursday that showed factory orders fell in January for a sixth straight month and fourth-quarter productivity declined by more than initially thought.
  • An economic riddle: Where are all the construction workers?

    02/28/2015 10:57:18 AM PST · by posterchild · 48 replies ^ | Feb 27, 2015 | Michael Santoli
    The housing bust and Great Recession might have scared a generation of would-be construction workers away from the building trades. Thats the strong suggestion of some new research by the Federal Reserve, which explored why shortages of construction workers are emerging even as large numbers of people who seem good candidates for that type of work remain under-employed. A working paper by Fed economist Andrew Paciorek notes that construction employment growth has badly lagged the recovery in the labor market as a whole.
  • Another Recession is on the way

    02/28/2015 9:43:53 AM PST · by Kaslin · 22 replies ^ | February 28, 2015 | Mike Shedlock
    In 2006-2007 I called for a recession. We got a big one. I called for another one in 2011, as did the ECRI. That recession never happened. 50% is not a very good recession predicting track record except in comparison to consensus economic opinions that have never once in history predicted a recession. Consensus opinion is batting a perfect 0.00% Investigating the Record By the way, the ECRI was late in calling the recession of 2007. They still deny it. And questions regarding the 2001 recession and ECRI have still not been answered. I have talked about all of this...
  • Greenspan: Effective demand as weak as during Depression

    02/26/2015 5:41:52 PM PST · by Red in Blue PA · 25 replies
    The fact that the market is anticipating that the Federal Reserve will raise interest rates, yet the yields on the 10- and 30-year Treasurys are falling is an indication of how weak the overall global economy is, former Fed Chairman Alan Greenspan told CNBC on Thursday. In fact, effective demand is extraordinarily weak, he said. "The way I measure it, it's probably tantamount to what we saw in the later stages of the Great Depression," Greenspan said in an interview with "Closing Bell." That said, he acknowledged "it's not anywhere near what the problems were back then but we haven't...
  • Federal Reserve Insider Alan Greenspan Warns:There Will Be a Significant Market EventSomething Big

    With the Federal Reserve printing trillions upon trillions of dollars to keep the economic system afloat, many investors and financial pundits have surmised that the fundamental economic problems facing the United States during the crash of 2008 have been resolved. Stocks are, after all, at historic highs. But the insiders know different. And if theres any single person out there who understands U.S. monetary policy and its long-term effects on domestic and global affairs its former Federal Reserve chairman Alan Greenspan. As the head of the worlds most powerful central bank for nearly two decades hes privy to the insider...
  • Jeb Bush cannot escape his brother's undeniably disastrous presidency

    02/17/2015 4:08:57 AM PST · by 2ndDivisionVet · 27 replies
    The Week ^ | February 17, 2015 | Ryu Spaeth
    Earlier this year, Mitt Romney had a Galadriel moment. He appeared to be briefly seized by a vision of himself as an all-powerful, world-striding President Romney, before turning away from temptation and settling for the plain old Mitt Romney he has always been. It was political theater at its most bizarre, a flack-driven frenzy that doubled as a flashback to the self-delusion that blinded the Romney 2012 campaign in its final days. With Romney now out of the way, Jeb Bush has consolidated the support of the GOP's moneyed class with surprising alacrity. As Politico noted last week, the contest...
  • Japan's Recession Is Over

    02/15/2015 4:22:40 PM PST · by blam · 13 replies
    BI ^ | 2-15-2015 | Leika Kihara and Tetsushi Kajimoto, Reuters
    Leika Kihara and Tetsushi Kajimoto, Reuters Februry 15, 2015 TOKYO (Reuters) - Japan's economy rebounded from recession to grow an annualized 2.2 percent in the final quarter of last year, giving a much-needed boost to premier Shinzo Abe's efforts to shake off decades of stagnation even as the global outlook deteriorates. But the expansion was smaller than a 3.7 percent increase forecast in a Reuters poll, suggesting a fragile recovery for the world's third-largest economy as consumer mood remained soft and uneven global growth weighed on exports. Still, the return to growth will allow the Bank of Japan to hold...
  • The Latest Merger... and the Big Lie of the Obama Recovery

    02/13/2015 10:57:33 AM PST · by jfd1776 · 9 replies
    Illinois Review ^ | February 13, 2015 A.D. | John F. Di Leo
    This weeks business news concerns yet another high profile corporate merger. Less than two years after office supply and computer retailers Office Depot and Office Max were forced into a merger, it now looks like Staples will be acquiring them. Where once there were three retailers, soon (or eventually, since such consolidations do take time), there will be only one. The Resident of the White House, no doubt remembering that the success of Staples was an early credit to his rival Mitt Romneys storied career as an investment wizard, lost no time in taking pot-shots against Staples for its employee...
  • Net U.S. Job Gains Since The Recession Have Gone To Foreign-Born Workers

    02/06/2015 3:08:39 PM PST · by Nachum · 11 replies
    Breitbart ^ | 2/6/15 | Caroline May
    In the months and years since the recession began in December 2007, foreign-born workers have experienced a net increase in employment, while native-born Americans have experienced a net loss. The Bureau of Labor Statistics released updated employment data Friday. The new BLS figures reveal that since the start of the recession in 2007 which is said to have ended in June 2009 the number of foreign workers employed in the United States rose by 1.7 million. In December 2007 the number of foreign-born workers was 22,810,000 by January 2009 the number has increased to 24,553,000. Meanwhile the number...