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Keyword: recession

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  • U.S. bank stocks and bonds clobbered by recession worry

    02/09/2016 4:31:58 AM PST · by EBH · 17 replies
    Yahoo Finance ^ | 2/9/2016 | Caroline Valetkevitch and Will Caiger-Smith
    NEW YORK (Reuters/IFR) - U.S. bank stocks and bonds took a pounding on Monday as recession fears compounded concern about their exposure to the energy sector and expectations that global interest rates are unlikely to rise quickly.... Meanwhile, bonds issued by U.S. banks extended their decline, with the yield premium demanded by investors to hold these securities, rather than safer U.S. Treasury debt, climbing to the highest in three-and-a-half years, according to Bank of America Merrill Lynch Fixed Income Index data. "Investors' attitudes seem to be worsening relative to the likelihood of a global recession. I think that's what financials...
  • Dwindling Jobs... And Attacking the Producers

    02/07/2016 8:54:16 PM PST · by jfd1776 · 8 replies
    Illinois Review ^ | February 6, 2016 A.D. | John F. Di Leo
    How would you react to the following news stories? Former Shoppers Fined $5,000 for No Longer Frequenting Nearby Mall Residents of Anytown, USA were surprised to receive invoices in the mail from their local county government Friday. The county identified people who used to shop in the local mall but, due to reports of muggings, rapes, and vehicle theft at the mall, switched to shopping at other, safer malls, or just doing it online. The thousand dollar a year fine was based on the estimated amount of revenue the mall says it lost due to their departure. Professional economists, when...
  • Portfolio Moves As U.S. Recession Signals Intensify

    02/06/2016 6:13:48 AM PST · by Red in Blue PA · 18 replies
    Signs of recession are intensifying. The global economy is near or in recession, and we’re seeing that pressure begin to appear here in the U.S. It’s important to be on “recession watch” because the stock market suffers significant declines during recessions. However, you can position your portfolio to mitigate downside risk when recession signals are flashing. A few of quick facts: 1.Recessions tend to occur one to two times each decade. 2.The last U.S. recession was in 2008, seven years ago. 3.Economies naturally cycle between growth and recession. 4.The stock market declines more than 40 percent on average during recessions....
  • U.S. Economy Ran Out Of Gas In Q4; Will Consumers Spend In 2016?

    02/01/2016 5:17:25 AM PST · by expat_panama · 30 replies
    Investors Business Daily ^ | 1/29/2016 | CIARAN MCEVOY
    Economic growth decelerated sharply in the second half of 2015 due to the usual suspects: global headwinds, destockpiling and a slumping energy sector. Gross domestic product expanded at a glacial 0.7% annual rate in the fourth quarter, down from gains of 2% in Q3 and 3.9% in Q2, the Commerce Department said Friday. But a recession is highly unlikely, according to most economists, saying consumers will keep the economy plodding along at the so-so pace the country has seen since the Great Recession ended in 2009. Despite some big swings over the past several quarter, GDP grew 2.4% for all...
  • PETER SCHIFF: We're Going To Have An Economic Collapse And Negative Rates Before The Election

    01/29/2016 12:01:58 PM PST · by blam · 82 replies
    BI ^ | 1-29-2016 | Bob Bryan
    Bob BryanJanuary 29, 2016 Based on today's GDP release, it appears that the US economy is slowing but not near any sort of massive collapse. Peter Schiff begs to differ. The CEO and chief global strategist for Euro Pacific Capital, and noted perma-bear, said that serious economic destruction is just a few months away. "I think the Fed is going to have negative interest rates before the election because we're going to be in a serious recession," Schiff told Business Insider on Friday. In fact, Schiff said that we may already be in recession and this one is going to...
  • Corporate Bonds Pass An Ominous Milestone (Recession likely)

    01/28/2016 7:47:24 PM PST · by GilGil · 4 replies
    Felder Report ^ | 1/28/2016 | Jesse Felder
    The spread between the yield on corporate bonds and that on treasuries passed the 2% mark yesterday for the first time in over three years yesterday. In the chart above I’ve annotated with red vertical lines the prior two occasions when spreads widened to this degree for the first time in at least two years. Notice that each of the two prior occurrences led to painful bear markets and recessions. Now this indicator alone isn’t sufficient evidence that another painful bear market and concomitant recession are on their way. However, when you pair it with the all the other data...
  • Outlook 2016: Why economists are starting to use the ‘R’ word again

    01/28/2016 4:43:53 AM PST · by expat_panama · 30 replies
    Financial Post ^ | January 25, 2016 | John Shmuel
    Big stock market declines are often lead indicators for recession, and global markets are heading into their last week of trading for the month with the risk of seeing one of their biggest ever January declines.Despite a big bounce in markets Friday, which saw the S&P 500 rise two per cent, fear is in the air. Bank of America Merrill Lynch economists said in an update Friday that they now see a 20 per cent chance that the U.S. economy will slip into a recession this year, up from the 15 per cent chance they predicted in December.The rising chance...
  • Recession Indicators Flashing Red

    01/24/2016 1:37:44 PM PST · by EBH · 29 replies
    Wall Street Journal ^ | 1/24/2016 | Josh Zumbrun
    successfully navigated, global growth could be derailed." Of the warning signs, the decline in U.S. industrial production has one of the best track records. The output from mines, factories and utilities has always begun to decline before recession strikes. "Manufacturing tends to lead the economic cycle and it tends to be an indicator of the swings," said Thomas Costerg, senior economist at Standard Chartered. "Manufacturing is struggling." A strong U.S. dollar and weak economies internationally are taking a toll. But unlike past declines in industrial production, today's decline has been driven primarily by the collapse in the oil industry. The...
  • 'Worse than 2007': Top banker warns of looming wave of worldwide bankruptcies

    01/20/2016 11:44:23 AM PST · by Roman_War_Criminal · 27 replies
    Business Insider ^ | 1/20/2016 | David Scutt
    The world's financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, according to a leading global banker. William White, chairman of the OECD's review committee and former chief economist of the Bank for International Settlements, suggests the stresses in the financial system are "worse than it was in 2007." Speaking with the UK Telegraph's Ambrose Evans-Pritchard before the start of the World Economic Forum in Davos, Switzerland, White warned that macroeconomic ammunition to fight further economic downturns was essentially "all used up."
  • 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...
  • The recession of 2016 Central bank bungles, oil price fluctuations and overregulation...

    01/19/2016 4:46:52 AM PST · by expat_panama · 12 replies
    The Washington Times ^ | January 18, 2016 | Richard W. Rahn
    There will be a recession in the United States and much of the rest of the world in 2016. After reading the above sentence, you should be thinking, what possibly could the writer know that the International Monetary Fund, the Federal Reserve and the Obama administration do not know given all their resources and all of their professional economic forecasters? If one looks at the forecast record of the IMF and the Fed over the past several decades, one will not find any case in which a year of positive growth was followed by a year of contraction in which...
  • New Fed Figures Show Manufacturing Nearing a Recession and Automotive in One

    01/16/2016 12:53:20 PM PST · by 2ndDivisionVet · 1 replies
    Equities ^ | January 18, 2016 | Alan Tonelson
    Despite recent gloomy private sector and regional Fed surveys, the Federal Reserve's new December industrial production figures revealed that real manufacturing output dropped a bare 0.05 percent on month, and revisions barely worsened the picture. Yet the weak year-end number left such output down on net for five months - one short of a technical recession. And the automotive sector, which has led industry's post-Great Recession comeback, sank into technical recession. Full-year 2015 manufacturing after-inflation growth of 0.74 percent was the lowest such figure since the last recession began, and less than 20 percent as strong as 2014's 4.16 percent...
  • CSX: Railroads Face Recession-Like Pressures (rail volumes at Recession levels)

    01/13/2016 3:22:14 PM PST · by Red in Blue PA · 43 replies
    CSX Corp. executives said on Wednesday that current pressures on rail cargo volumes are at levels not seen outside a recession. “You have multiple aspects working against you: the low [natural] gas prices, the low commodity prices, the strength of the dollar,” Chief Executive Michael Ward said during an earnings call with analysts. “Except for markets like automotive and housing related, you’re seeing pressure on most of the markets.”
  • The Modern Left and the Crippling of Markets

    01/13/2016 1:50:58 PM PST · by jfd1776 · 8 replies
    Illinois Review ^ | January 13, 2016 A.D. | John F. Di Leo
    Reflections on the last State of the Union Address from Barack Hussein Obama… The modern Democratic Party has made no secret of the fact that they detest the free market. No, not dislike, not disrespect, not even misunderstand... they detest the free market. From Secretary Hillary Clinton haughtily declaring to Senator Bernie Sanders famously declaring that 23 brands of deodorant are … the leading lights of the modern Democratic Party are dim bulbs indeed, when it comes to economics. They proudly refuse to understand the subject, and they set themselves up as superior to its realities. It has long been...
  • Is the Market Swoon Signaling Recession?

    01/12/2016 7:10:42 AM PST · by SeekAndFind · 8 replies
    RCM ^ | 01/12/2016 | Robert Samuelson
    It's hard not to wonder: Is the stock market telling us something? True, the market's record in forecasting recessions is horrendous. Stocks often move according to whim or fad. But just because the market is wrong much of the time doesn't mean it's wrong all the time. Could last week's turbulent trading be one of the times it's right? By Friday's close, stocks had dropped 6% for the week, a paper loss of $1.5 trillion, says Wilshire Associates. Are we staring at the next recession? The selloff originated in China with a weaker-than-expected report on manufacturing activity. This triggered a...
  • Shipping Said to Have Ceased… Is the Worldwide Economy Grinding to a Halt?

    01/12/2016 6:35:38 AM PST · by Bloody Sam Roberts · 26 replies
    The Dollar Vigilante ^ | 1/11/16 | Jeff Berwick
    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 waters. Instead, they are anchored. Unmoving. Empty.
  • Is The Stock Market Swoon Foretelling Recession?

    01/12/2016 3:25:07 AM PST · by expat_panama · 62 replies
    Investors Business Daily ^ | 01/11/2016 | Robert Samuelson
    It's hard not to wonder: Is the stock market telling us something? True, the market's record in forecasting recessions is horrendous. Stocks often move according to whim or fad. But just because the market is wrong much of the time doesn't mean it's wrong all the time. Could last week's turbulent trading be one of the times it's right?... Behind this chain reaction is a huge transfer of economic power from advanced countries (mainly North America, Europe and Japan) to "emerging-market"... The trouble is that their growth is slowing... One is high debt levels... The other problem is the legacy...
  • 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...
  • Climate Change and the Lessons of a Winter Storm

    12/30/2015 2:56:58 PM PST · by jfd1776 · 9 replies
    Illinois Review ^ | December 30, 2015 A.D. | John F. Di Leo
    On Monday, December 28, 2015, Chicagoland was hit by a particularly unpleasant ice storm. No, not a blizzard – we get them every year – this was an ice storm, the kind where you’re peppered by tiny bits of ice as you walk or run to your car, the kind that leaves inches of slush and ice on the ground instead of nice soft snow. The kind that’s even more painful, even more dangerous, than most snowstorms. The kind that weighs down power lines, causing them to collapse and leave whole towns without power. It wasn’t the worst of the...
  • Christmas Shopping in Chicago - In Line or Online, How Times Have Changed

    12/25/2015 7:20:46 AM PST · by jfd1776 · 14 replies
    Illinois Review ^ | December 24, 2015 A.D. | John F. Di Leo
    If you regularly drive north from Chicago to Milwaukee on I-94, as I do, you have watched Amazon’s Kenosha distribution center grow by leaps and bounds. The parking lot is full, day and night, as it is in online retailers’ similar facilities all over the country nowadays. They may be on the outskirts of a metro like the Kenosha one, or in the heart of town, like Amazon’s 26 urban fulfillment centers in Houston, New York, San Francisco, Miami and Atlanta, often saving a blighted neighborhood by new construction and new jobs that no other business could justify bringing there....
  • Pew Trust: American Finances on Uncertain Footing

    12/14/2015 6:08:56 PM PST · by Red in Blue PA · 7 replies
    A surprisingly large share of Americans are in a precarious financial state, according to a new, detailed study from The Pew Charitable Trust. For its study, Pew sampled nearly 8,000 individuals, and it found that the typical American household’s finances have not recovered in any substantial way since the downturn, especially in regards to income, savings and covering emergency expenses. Pew’s conclusions have strong implications for the future of housing, so we have spotlighted several of the study’s most notable findings: 1. Income Instability – For the typical U.S. family, earnings have grown just 2 percent from 1999 to 2009, and more than half of U.S....
  • Warning: Half of oil junk bonds could default

    12/09/2015 10:02:37 PM PST · by PAR35 · 13 replies
    CNN ^ | December 10, 2015: 12:36 AM ET | Matt Egan
    ... It's fueling financial turmoil on Wall Street with Standard & Poor's Ratings Service recently warning that a stunning 50% of energy junk bonds are "distressed," meaning they are at risk of default. Overall, about $180 billion of debt is distressed. It's the highest level since the end of the Great Recession and much of it is in energy companies. ... Not a repeat of 2008...
  • Watch for U.S. recession, zero interest rates in China next year, Citi says

    12/02/2015 7:41:48 AM PST · by xzins · 20 replies
    Reuters ^ | 2 Dec 15 | Jamie McGeever
    The outlook for the global economy next year is darkening, with a U.S. recession and China becoming the first major emerging market to slash interest rates to zero both potential scenarios, according to Citi. As the U.S. economy enters its seventh year of expansion following the 2008-09 crisis, the probability of recession will reach 65 percent, Citi's rates strategists wrote in their 2016 outlook published late on Tuesday. A rapid flattening of the bond yield curve towards inversion would be an key warning sign.
  • The Long, Cold Winter Ahead (Zero Hedge)

    11/22/2015 8:17:22 AM PST · by citizen · 28 replies
    Zero Hedge ^ | 11/22/2015 | Tyler Durden
    If you recall, the popular storyline since late last year has been that the U.S. economy is moderately improving while the world’s other major economies – Japan, China, and Europe – are rolling over. The U.S. economy would power through. Moreover, stock prices had achieved a permanently high plateau.
  • Global Trade In Freefall:

    11/04/2015 2:11:03 PM PST · by amorphous · 38 replies
    Zero Hedge ^ | 4 Oct 201 | Tyler
    Over the past year we have regularly contended that a far greater threat to the global economy than either corporate earnings, currency devaluations, rate cuts (or hikes), reserve outflow, or even the stock market, is the sudden, global trade crunch which has been deteriorating rapidly since late 2014 and has seen an even more dramatic drop off as 2015 is winding down. Actually, that is incorrect: global trade is merely a manifestation of the true state of the above listed items. ... We have in the past joked that the only thing that could possibly save the world from what...
  • The Recession Fearmongers Might Have It Dead Wrong

    10/31/2015 8:34:12 AM PDT · by blam · 30 replies
    BI ^ | 10-31-2015 | Akin Oyedele
    Akin OyedeleOctober 31, 2015We recently detailed why some economists are spooked about the economy. Harvard professor Larry Summers also noted that the consensus of economists has failed to forecast a recession one year in advance in post-war America. So, once again, we may not know for sure until we are really close to an economic downturn, or even in one. However, it doesn't exactly look like we're there. If you were, however, trying to build a case that we're near recession, the manufacturing sector is where you'd start. It's A Services Economy "We are seeing questions come up as to...
  • Orders for U.S. durable goods fizzle again

    10/27/2015 12:58:40 PM PDT · by MNJohnnie · 14 replies
    U.S. orders for long-lasting goods such as heavy machinery or airplanes fell in September for the second month in a row, offering little evidence that manufacturers are ready to rebound after a prolonged bout of softness. Durable-goods orders fell a fell a seasonally adjusted 1.2% in September following an even sharper 3% decline in the prior month, the Commerce Department said Tuesday. Previously the government had said orders dropped 2.3% in August.
  • Economic Forecasts and Faux Surprise

    10/27/2015 9:06:28 AM PDT · by jfd1776 · 1 replies
    Illinois Review ^ | October 26, 2015 A.D. | John F. Di Leo
    As this is championship season in sports (yes, its always championship season for some sport), lets begin our discussion with a sports analogy. Over the course of a game, we have seen our beloved Home team riddled with injuries. Our star players have been physically and emotionally clobbered, as the Visitors have used every tool at their disposal against us, regardless of the rule book. They tripped and tackled our starters, given us two broken legs and three broken arms, driving five of our best out of the game. Kicking our boys during time outs, shooting darts from dart guns,...
  • LARRY SUMMERS: The global economy is facing a 'dangerous' situation

    10/24/2015 10:50:17 AM PDT · by ForYourChildren · 37 replies
    Business Insider ^ | October 24, 2015 | Akin Oyedele
    During HSBC's Global Investment Seminar in New York this week, Harvard professor and economist Larry Summers brought up secular stagnation. In 2013, Summers revived the phrase, which, over time, has come to mean all sorts of things to different people. But at its core, secular stagnation refers to a global economy growing at a slow rate because there is too much saving and not enough investment. And right now, a lot of savings (and other monies) are heading out of emerging markets and into the developed world. "I would suggest that the defining financial development of the last year is...
  • Global Trade Is Collapsing As The Worldwide Economic Recession Deepens

    10/20/2015 11:08:42 AM PDT · by Perseverando · 10 replies
    The Economic Collapse ^ | October 19, 2015 | Michael Snyder
    When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers are more difficult to fudge. Today, China accounts for more global trade than anyone else on the entire planet, and we have just learned that Chinese exports and Chinese imports...
  • The Numbers Say That A Major Global Recession Has Already Begun

    10/19/2015 9:37:03 AM PDT · by SeekAndFind · 32 replies
    The Economic Collapse Blog.com Archives ^ | By Michael Snyder, on October 13th, 2015 | Michael Snyder
    The biggest bank in the western world has just come out and declared that the global economy is “already in a recession”. According to British banking giant HSBC, global trade is down 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent. So those that are waiting for the next worldwide economic recession to begin can stop waiting. It is officially here. As you will see below, money is fleeing emerging markets at a blistering pace, major global banks are stuck with huge loans that will never be repaid, and it looks like...
  • 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 Air.com ^ | 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
    Townhall.com ^ | 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...