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Keyword: recession

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  • "Seasonal Adjustment" Swings Initial Jobless Claims From 6-Month Highs To Cycle Lows

    07/17/2014 3:15:10 PM PDT · by Perdogg · 3 replies
    Once again we were spot on. Because as the DOL just reported, yet again the fate of the US economy is left to seasonal adjustments. Non-seasonally-adjusted initial jobless claims surged over 47,000 this week to its worst in 6-months. But by the magic of PhD adjustment, this translated into 3,000 seasonally-adjusted drop from last week, beating expectations and printing near 'recovery' cycle lows. We can only imagine the adjustments needed to cope with Microsoft's layoffs. 2014 has seen the smallest percentage drop in initial claims since the crisis began.
  • U.S. Economy-Plunge, Stagnation & Turning Down Anew-John Williams

    07/14/2014 10:21:03 AM PDT · by GilGil · 19 replies
    USAWatchdog.com ^ | 7/1/2014 | John Williams
    Back in 2013, Williams predicted that it would be “game over” in 2014. What are the statistics showing him now? Williams says, “They are showing the economy continues to weaken, and it never recovered. A second quarter contraction here would most assuredly be recognized as a new recession, and I contend we never got out of the old recession. We had plunge, stagnation and, now, we are turning down anew.”
  • This One Market Measure Has A Perfect Track Record For Predicting US Recessions

    07/08/2014 6:11:42 PM PDT · by SeekAndFind · 9 replies
    Business Insider ^ | 07/08/2014 | Sam Ro
    There are very few market indicators that can predict recessions without sending out false positives. The yield curve is one of them. At a breakfast earlier today, LPL Financial's Jeffrey Kleintop noted that the yield curve inverted just prior to every U.S. recession in the past 50 years. "That is seven out of seven times — a perfect forecasting track record," he reiterated. The yield curve is inverted when short-term interest rates (e.g. the 3-year Treasury) are higher than long-term interest rates (e.g. the 10-year Treasury yield). "The yield curve inversion usually takes place about 12 months before the start...
  • How Recession-Proof Is Your Job Sector?

    07/08/2014 12:46:53 PM PDT · by SeekAndFind · 15 replies
    Of Two Minds ^ | 07/08/2014 | Charles Hugh-Smith
    History suggests that previously sound assumptions about financial security and recession-proof sectors may not apply in the next recession. Nobody wants to lose their job in a recession, but that's what happens when credit tightens, profits fall and tax revenues decline. Every enterprise that can't borrow unlimited sums of money at near-zero interest rates has to cut costs, and since labor and labor overhead (pension contributions, healthcare insurance, etc.) are the biggest expense for the vast majority of enterprises (including government agencies), payroll must be trimmed one way or another: either by lay-offs or by attrition, i.e. not hiring replacements for...
  • The Deteriorating Economic Outlook

    07/08/2014 11:56:14 AM PDT · by GilGil · 20 replies
    Paulcraigroberts.com ^ | 7/8/2014 | Craig Roberts
    The first quarter contraction, especially our corrected number, implies a second quarter negative real GDP. In other words, the years of Quantitative Easing (money printing) by the Federal Reserve has not resulted in economic recovery from the 2008 downturn and has not prevented further contraction.
  • Is the Economy Already in Another Recession? A net first-half contraction seems all but certain.

    07/03/2014 7:46:04 AM PDT · by SeekAndFind · 16 replies
    Pajamas Media ^ | 07/03/2014 | Tom Blumer
    Why do bad things always happen to him? Last week, the establishment press largely shrugged off the awful and ominous news that the economy shrank at an annual rate of 2.9 percent [1] during this year’s first quarter. When they deigned to notice it, they usually told their readers, listeners and viewers that happy days have now returned.Unfortunately, the reported contraction is historically foreboding: The 5.5-point downward swing from the fourth quarter’s 2.6 percent annualized growth to the first quarter’s 2.9 percent contraction was the largest such move from expansion to decline since the fourth quarter of 1981 [2].Since...
  • Spain Celebrates The "End Of The Recession" With 54% Youth Unemployment, Highest Since January

    07/01/2014 10:17:49 AM PDT · by Enlightened1 · 8 replies
    Zero Hedge ^ | 07/01/14 | Tyler Durden
    According to the just released European employment data for May, total Spain unemployment remained unchanged in May at 25.1%, while youth unemployment has actually risen to 54.0% - the highest since January! That's ok though: aside from the facts, onc is welcome to "believe" whatever headlines one wants to believe. And speaking of "recovery", here is what unemployment across Europe looked like as of May.
  • For most families, wealth has vanished

    06/30/2014 2:57:47 PM PDT · by Red in Blue PA · 32 replies
    If you’re a typical family, you’re considerably poorer than you used to be. No wonder the “recovery” feels like a recession. A new study published by the Russell Sage foundation helps explain why many families feel like they’re falling behind: They actually are. The study, which measures the average wealth of U.S. households by income level, reveals a startling decline in wealth nationwide. The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago. “There are very...
  • How Obamacare Helped Crash the Economy

    06/25/2014 7:10:00 PM PDT · by lbryce · 8 replies
    The Daily Beast ^ | June 25, 2014 | Daniel Gross
    In the first quarter of 2014, GDP shrunk 2.9 percent and most of the reason is because health-care spending declined. That doesn’t mean we’re in for a recession though. Obamacare did help crash the economy. Only not in the way its critics thought it would. The Commerce Department on Wednesday revised the growth figures for the first quarter of 2014, and concluded that the economy shrunk at a 2.9 percent annual rate. This comes a month after the government slashed its initial estimate from an annual growth rate of .1 percent to a decline of 1.0 percent. At the time,...
  • For most families, wealth has vanished

    06/26/2014 6:47:21 AM PDT · by george76 · 68 replies
    Daily Ticker ^ | June 24, 2014 | Rick Newman
    If you’re a typical family, you’re considerably poorer than you used to be. No wonder the “recovery” feels like a recession. ... The median household in 2013 had a net worth of just $56,335 -- 43% lower than the median wealth level right before the recession began in 2007, and 36% lower than a decade ago.
  • We are in Recession.

    06/26/2014 6:31:19 AM PDT · by SeekAndFind · 28 replies
    American Thinker ^ | 06/26/2014 | Joseph Gestetner
    The economy is in a recession in effect if one quarter GDP (Gross Domestic Product/economic activity) wipes out the gains of the previous quarter. You do not need officially two consecutive quarters of a flat or minus GDP headline to be called a recession. Instead, as occurred in Q1 (first quarter of) 2008, one quarter GDP was so bad that it wiped out the weak gains of the previous quarter (Q4 2007). Result? The official start of the last recession was Q4 2007 despite the fact that only one quarter was in a minus. Well, Q1 of 2014 wiped out...
  • Obama Gets GDP Bassackward

    06/25/2014 6:14:31 PM PDT · by Kaslin · 15 replies
    Townhall.com ^ | June 25, 2014 | John Ransom
    This country is a bunch of lions led by donkeys, as the Germans said about the English Army in the first war. The latest Obama-related bray is the revised GDP numbers for the first quarter. Economists expected the economy to grow by 1.9% even after a discount for the cold weather. Instead the initial estimate saw a contraction of 1%. As we approached the revision to the initial estimate, we began hearing that perhaps things would be even worse in the next estimate. They were. The revision came in at a contraction of 2.9% for the first quarter. But...
  • The U.S. Economy Has Collapsed: “This Is A Monstrous Negative Revision”

    06/25/2014 1:31:56 PM PDT · by Signalman · 54 replies
    SHTFplan.com ^ | 6.24,2014 | Mac Slavo
    For months the administration, financial pundits and Wall Street analysts made it a point to inform Americans about the healthy state of our economy. One of the key metrics they’ve used as proof of recovery was the Gross Domestic Product (GDP) which measures the productive output of the U.S. economy as a whole. Earlier this year the U.S. Bureau of Economic Analysis noted that this measure was showing positive growth. But now, after a second official revision, all of that purported growth used to goad consumers into spending more money on homes, cars and other goods has been revealed to...
  • U.S. Economy Shrinks By Most Since Great Recession in 1Q (-2.9%)

    06/25/2014 5:47:58 AM PDT · by kristinn · 183 replies
    Reuters via Fox Business ^ | Wednesday, June 25, 2014
    The U.S. economy contracted at a much steeper pace than previously estimated in the first quarter, but there are indications that growth has since rebounded strongly. The Commerce Department said on Wednesday gross domestic product fell at a 2.9 percent annual rate, the economy's worst performance in five years, instead of the 1.0 percent pace it had reported last month. While the economy's woes have been largely blamed on an unusually cold winter, the magnitude of the revisions suggest other factors at play beyond the weather. Growth has now been revised down by a total of 3.0 percentage points since...
  • Why a grim US economic picture is brightening (technicolor barf alert)

    06/24/2014 5:59:39 PM PDT · by RightGeek · 18 replies
    Associated Press ^ | 6/24/2014 | CHRISTOPHER S. RUGABER and MARTIN CRUTSINGER
    WASHINGTON (AP) -- When the government updates its estimate Wednesday of how the U.S. economy fared last quarter, the number is pretty sure to be ugly. Horrible even. The economy likely shrank at an annual rate of nearly 2 percent in the January-March quarter, economists estimate. That would be its bleakest performance since early 2009 in the depths of the Great Recession. So why aren't economists, businesses or investors likely to panic? Because most agree that the economy last quarter was depressed by temporary factors - particularly the blast of Arctic chill and snow that shuttered factories, disrupted shipping and...
  • A new reason to worry about jobs and stocks: The Dreaded 'R' Word is Making a Return

    06/21/2014 1:12:14 PM PDT · by SeekAndFind · 43 replies
    Yahoo Finance ^ | 06/20/2014 | Rick Newman
    A worrisome word is popping up in discussions among some economists: Recession. As in, the next one. Many Americans feel the recession that began at the end of 2007 never ended, but in technical terms, the economy has been growing since the middle of 2009. Until recently, it looked as if growth might finally hit “normal” levels of 3% or more later this year, as the housing recovery kicks in and employers finally start to hire more. But recent economic setbacks have fed new worries about tapped-out consumers falling even further behind. “The danger has increased the U.S. economy could...
  • U.S. retail sales miss expectations, jobless claims rise (Recovery Summer, Part IV!)

    06/12/2014 6:13:03 PM PDT · by Red in Blue PA · 21 replies
    WASHINGTON (Reuters) - U.S. retail sales rose less than expected in May and first-time applications for jobless benefits increased last week, but the data did little to alter views the economy is regaining steam. The Commerce Department said on Thursday that retail sales gained 0.3 percent. While that was below the 0.6 percent rise expected on Wall Street, April sales were revised higher to show a 0.5 percent increase, helping to keep growth forecasts intact.
  • The Obama ‘Recovery’: As Bad as (or Worse than) the Great Depression?

    06/05/2014 9:06:03 AM PDT · by SeekAndFind · 9 replies
    Pajamas Media ^ | 06/05/2014 | Tom Blumer
    At West Point last week [1], President Barack Obama went to a variant of an economic theme he’ll probably reprise until the day he leaves the Oval Office once and for all (we hope) 31-plus months from now.Obama told the assembled graduating Army cadets and their families: When I first spoke at West Point in (December) 2009 … our nation was just beginning a long climb out of the worst economic crisis since the Great Depression. What if I told you that nearly five years into the nation’s “long climb” out of the recession, the relative size of the...
  • U.S. Gasoline Consumption Plummets By Nearly 75%

    05/31/2014 11:02:00 AM PDT · by blam · 55 replies
    Zero hedge - BullionBullsCanada ^ | 5-31-2014 | Jeff Nielsen
    Tyler Durden 05/30/2014Submitted by Jeff Nielsen via BullionBullsCanada blog, Regular readers are familiar with my narratives on the U.S. Greater Depression, and (in particular) some of the government’s own charts which depict this economic meltdown most vividly. The collapse in the “civilian participation rate” (the number of people working in the economy) and the “velocity of money” (the heartbeat of the economy) indicate an economy which is not merely in decline, but rather is being sucked downward in a terminal (and accelerating) death-spiral. However, even that previously published data, and the grim analyses which accompanied it could not prepare me...
  • U.S. consumer spending dips; inflation creeps up

    05/30/2014 6:28:09 PM PDT · by Red in Blue PA · 19 replies
    WASHINGTON (Reuters) - U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline is likely temporary given a strengthening jobs market. The Commerce Department said on Friday consumer spending dipped 0.1 percent, which was the first decline since April 2013. But the drop followed an upwardly revised 1.0 percent jump in March that was the largest gain since August 2009. "The disappointing spending report should be viewed in the context of a stronger handoff into the second quarter," said Gennadiy Goldberg, an economist at TD Securities in New...
  • Where The World’s Unsold Cars Go To Die

    05/20/2014 10:18:54 AM PDT · by Red Badger · 46 replies
    worldtruth.tv ^ | May 17, 2014 | Staff
    In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as “channel stuffing”, of which General Motors is particularly guilty and whose inventory at dealer lots just hit a new record high. But did you know that when it comes to flat or declining sales and stagnant end demand, channel stuffing is merely the beginning? Presenting… Where the World’s Unsold Cars Go To Die Above is just a few of...
  • If Economic Cycle Theorists Are Correct, 2015 To 2020 Will Be Pure Hell For The United States

    05/13/2014 5:24:42 PM PDT · by 2ndDivisionVet · 50 replies
    The Economic Collapse ^ | May 12, 2014 | Michael Snyder
    Does the economy move in predictable waves, cycles or patterns? There are many economists that believe that it does, and if their projections are correct, the rest of this decade is going to be pure hell for the United States. Many mainstream economists want nothing to do with economic cycle theorists, but it should be noted that economic cycle theories have enabled some analysts to correctly predict the timing of recessions, stock market peaks and stock market crashes over the past couple of decades. Of course none of the theories discussed below is perfect, but it is very interesting to...
  • U.S. Economy Contracted In First Quarter, Latest Figures Show (Revised figures)

    05/13/2014 1:17:27 PM PDT · by 2ndDivisionVet · 20 replies
    <p>A couple weeks ago, the Commerce Department said U.S. economic output expanded at a seasonally adjusted annual rate of 0.1% in the first three months of the year. A near-stall for the economy, for sure, but at least it wasn’t worse.</p>
  • Teen Employment Has Plunged 42% Since 2000 Highs

    05/09/2014 4:45:35 PM PDT · by Red in Blue PA · 13 replies
    As chief operations officer at the San Jose Silicon Valley Chamber of Commerce, Stephanie Caldwell knows her California region's high education levels helped buffer the worst of the recession's job losses. But the affluent community still suffered. "During the recession we were hit hard. Teens were having trouble finding jobs," she said. "After- school and summer jobs were definitely being taken by older people. Go to any Starbucks (SBUX) and you can see that. Hopefully with the economy picking up, that's starting to change. Teen employment has plummeted in a trend that long predates the Great Recession, worrying economists across...
  • Q1 GDP Cut To -0.6% At Goldman, -0.8% At JPMorgan

    05/06/2014 4:15:47 PM PDT · by GilGil · 7 replies
    Zerohedge ^ | 05/06/2014 | Tyler Durden
    Also, keep in mind that as we explained before, Q1 GDP was boosted around 1% by the forced spending "benefit" of Obamacare: a GDP contribution that will no longer be there. Which means that either normalized Q1 GDP is approaching -2%, or Q2 GDP is about to be whacked by the same amount. Pick your poison. One thing is certain - anyone hoping that 2014 is the year in which the US economy finally achieved "escape velocity" will have to drink the humiliation under the table as they repeat the mantra of apologists everywhere: "snow.... snow.... snow...."
  • What's Behind Friday's Jobs Numbers?

    05/03/2014 12:03:04 PM PDT · by Kaslin · 17 replies
    Townhall.com ^ | May 3, 2014 | Peter Morici
    The economy created 288,000 jobs in April, up from 203,000 in March. That’s the second best showing of the Obama recovery but still less than what is needed each month to raise employment to prerecession levels. Those results are consistent with an economy recovering from its winter slump but performing well below full potential—4 to 5 percent GDP growth and 400,000 to 500,000 jobs a month. Construction, manufacturing, retail and wholesale trade, business and professional services, finance, health care, leisure and hospitality, and government employment were all up. Information technology registered a small loss. Hourly earnings made no gain, indicating...
  • The Final Economic Results Are In, and Congratulations - We Are the .1 Percenters!

    05/01/2014 6:37:44 AM PDT · by NOBO2012
    Michelle Obama's Mirror ^ | 5-1-2014 | MOTUS
    Today’s post is focused on the latest economic news: Growth slowed to a barely discernible 0.1 percent annual rate in the first quarter of 2014 according to the the Commerce Department. That’s the weakest pace since the end of 2012 and down from 2.6 percent in the previous quarter. A toast! We’re number .001! According to reliable sources, were it not for increased Federal spending on Obamacare, there would be no growth at all.China has apparently overtaken the U.S. as the world’s largest economy.The Stock Market closes at an all time high because…well, who the hell knows?The government announced it...
  • U.S. economy slows to stall-speed (0.1% in Q1....any slower and we are contracting)

    04/30/2014 3:46:15 PM PDT · by Red in Blue PA · 45 replies
    The U.S. economy stalled in the first three months of 2014, but don't panic yet as it's probably just the winter weather effect. Gross domestic product, the broadest measure of economic activity, grew at a 0.1% annual pace in the first quarter, the U.S. Bureau of Economic Analysis reported Wednesday. That's brutally slow, even by sluggish post-recession standards. Since the Great Recession ended in June 2009, the economy has been growing at a rate of about 2% to 3% per year.
  • Reagan vs. Obama: A Tale of Two Economic Recoveries

    04/28/2014 1:03:14 PM PDT · by LucianOfSamasota · 61 replies
    Western Free Press ^ | 27 April, 2014 | John Walker
    Reagan Turned It Around in Two Years; Obama Has Made It Worse in Five Years It’s a tired and shopworn refrain, but the Obama administration still claims that the so-called economic recovery that started in 2009 is struggling because of the mess the president inherited when he took office. So how does he explain a jobless recovery with no economic growth? We’ll probably never see it in the mainstream media, but thanks to political observer Michael Hausam, we can make a comparison of policy and politics that pits 2009 against 1981. That would directly compare the economy Ronald Reagan inherited...
  • Russia Warns It May Enter Recession As Soon As This Quarter

    04/21/2014 7:07:22 AM PDT · by blam · 11 replies
    Zero Hedge ^ | 4-21-2014 | Tyler Durden
    Russia Warns It May Enter Recession As Soon As This Quarter Tyler Durden 04/21/2014 08:14 -0400 While hardly coming as a surprise to anyone, Russia is getting increasingly more vocal about the near certainty that the country is about to slam headfirst into a technical (at first), and then outright recession. Bloomberg reports that Russia’s economy may halt or contract in 2Q or 3Q, citing Maxim Oreshkin, head of Finance Ministry’s strategic forecasting dept. "It seems that we’ll get negative growth again in the second quarter compared with the previous quarter." Oreshkin says He added that capital outflows may reach...
  • The One Word Democrats May Not Utter During the Campaign (Nope, it's not "Obamacare")

    04/20/2014 7:21:39 AM PDT · by SeekAndFind · 4 replies
    Pajamas Media ^ | 04/19/2014 | Rick Moran
    The One Word Democrats May Not Utter During the Campaign Posted By Rick Moran On April 19, 2014 @ 11:26 am In Politics | And it’s not “Obamacare.”As important as Obamacare is to the Republicans in the midterm elections, the economy still tops everyone’s list as the number one issue facing the country.Some Democratic political consultants are advising candidates to avoid using the term “recovery” when describing the economy — for obvious reasons. This Fox News poll from January shows that 74% of Americans still think we’re in a recession. Any Democrat uttering the word “recovery” is likely to...
  • ‘Ridiculous’: Administration punts on Keystone, Obama faces Dem revolt

    04/18/2014 12:29:05 PM PDT · by Red in Blue PA · 85 replies
    The Obama administration once again has punted on a final decision for the Keystone XL pipeline, announcing ahead of the holiday weekend that it is extending a key review period indefinitely -- a move that could push off a determination until after the midterm elections. Republicans, as well as red-state Democrats who want the pipeline approved, slammed the administration for the delay. "It's absolutely ridiculous that this well over five year long process is continuing for an undetermined amount of time," Sen. Heidi Heitkamp, D-N.H., said in a statement.
  • America’s 18 Year Recession That Started in 1997 (It Didn’t End In June 2009)

    04/13/2014 9:17:13 AM PDT · by Nachum · 24 replies
    Confounded Interest ^ | 4/13/14 | Anthony B. Sanders – George Mason University
    The U.S. economy has been in a recession since 1997. While I am not referring to the NBER’s definition of a recession (that allegedly ended in June 2009), I am talking about declining real incomes, labor force participation and M2 Money Velocity. Both labor force participation and M2 Money Velocity peaked in 1997 while real median household income peaked in 1999. And all three have been declining ever since.And to add another slap in the face to consumers, the purchasing power for consumers has been deteriorating ever since the creation of The Federal Reserve System in 1913.Once the 16 year...
  • Women's clothing retailer Coldwater Creek to close its doors

    04/12/2014 8:46:11 AM PDT · by afraidfortherepublic · 54 replies
    Minneapolis Star Tribune ^ | 4-11-14 | Jackie Crosby
    <p>The women’s clothing retailer failed to find a buyer or new capital. A liquidation sale is planned.</p> <p>Women’s specialty clothing chain Coldwater Creek filed for bankruptcy on Friday and said it will close all of its stores around the country, including 11 in Minnesota.</p>
  • Santelli Slams "Don't Ignore The Long-End... Recessionary Pressures Are Building"

    04/10/2014 7:36:05 PM PDT · by Nachum · 2 replies
    Zero Hedge ^ | 4/10/14 | tyler durden
    With 30 year bond yields set to close their lowest in 10 months, CNBC's Rick Santelli is concerned at the signals that the Treasury yield curve is sending.If yesterday's minutes from the Fed were supposed to walk back their 'hawkish' tone, then Santelli slams they are "gonna need a really big billboard" because the term structure is still flattening. "When 'flattening' is the theme, that is not painting a rosy outlook for the long-term economy," and as Santelli warns, this is when the Fed is pulling out of its extraordinary policies. Santelli screams, "the entire monetary policy side has to...
  • Bill Clinton Points Out Gloomy State of Economy Under Obama

    04/10/2014 3:16:30 PM PDT · by 2ndDivisionVet · 25 replies
    Breitbart's Big Government ^ | April 10, 2014 | Charlie Spiering
    During his speech at the Civil Rights Summit held at the LBJ Presidential Library, former President Bill Clinton sounded a gloomy note about the current state of the economy under President Obama. Clinton, whom Obama frequently described as the “Secretary of Explaining Stuff,” pointed out that the current state of the economy made it more difficult to unite Americans politically. “It is all the more difficult today because of the economic conditions that we find ourselves, where medium family income today after inflation is still lower than it was the day I left office,” he said, adding, “where all over...
  • Family Dollar to close (370) stores as shoppers pinched (Recovery Spring!)

    04/10/2014 12:11:44 PM PDT · by Red in Blue PA
    Dollar stores are feeling the pinch from mounting financial pressures on low-income shoppers.Family Dollar said Thursday that will cut jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also permanently lower prices on about 1,000 basic items.
  • The State Of The Big Four Recession Indicators

    04/04/2014 4:36:57 PM PDT · by blam · 7 replies
    BI - Advisor Perspetives ^ | 4-4-2014 | Doug Short, Advisor Perspectives
    The State Of The Big Four Recession Indicators Doug Short, Advisor Perspectives April 4, 2014, 6:25 PM Note from dshort: This commentary has been revised to include today's release of the March Nonfarm Employment data.Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process. They are: Industrial...
  • It Was Never a 'Great Recession' In New York City (The City Did Not Experience a Housing Bust)

    04/03/2014 6:49:08 AM PDT · by SeekAndFind · 10 replies
    RCM ^ | 04/03/2014 | Robert Doar
    Sometimes success creates a problem. That's what happened in New York City with housing and homelessness. New York's housing market is very strong. The median price for a new condo in Manhattan rose to $1.73 million during the first quarter of 2014, up more than 30.6% from the first quarter of 2013, according to a market report from the real estate firm Douglas Elliman. Across the East River, the median price for a Brooklyn home reached $570,110, up 11 percent from a year earlier. The average monthly rent in Bushwick, a central Brooklyn neighborhood, which as recently as the 1970s...
  • U.S. jobs market dropouts increasingly likely to stay out

    03/27/2014 6:18:16 AM PDT · by Red in Blue PA · 9 replies
    WASHINGTON (Reuters) - A growing number of Americans quitting the labor force are likely gone for good, offering a cautionary note to the Federal Reserve as it tries to gauge how tight the jobs market is and how quickly to raise interest rates. For a long time, data suggested a significant portion of the decrease in labor force participation was because many job seekers had grown frustrated with their search and had given up looking. If the job market tightened enough, the thinking went, these Americans would be lured back to hunt for work again.
  • Fed's Bullard says U.S. jobless rate expected to fall below six percent this year (utter BS!)

    03/26/2014 4:12:54 AM PDT · by Red in Blue PA · 12 replies
    HONG KONG (Reuters) - The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country's economy after central bank comments sent shock waves through financial markets last week. James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is "quite good," despite data from early in the year. "The biggest thing is that unemployment has come down more quickly than expected," said Bullard, speaking on a panel at the annual Credit Suisse investor...
  • 20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind

    03/11/2014 12:24:53 AM PDT · by 2ndDivisionVet · 83 replies
    The Economic Collapse ^ | March 9, 2014 | Michael Snyder
    If the U.S. economy is getting better, then why are major retail chains closing thousands of stores? If we truly are in an "economic recovery", then why do sales figures continue to go down for large retailers all over the country? Without a doubt, the rise of Internet retailing giants such as Amazon.com have had a huge impact. Today, there are millions of Americans that actually prefer to shop online. Personally, when I published my novel I made it solely available on Amazon. But Internet shopping alone does not account for the great retail apocalypse that we are witnessing. In...
  • McDonald's February same-restaurant sales fall 0.3 percent

    03/10/2014 5:41:34 AM PDT · by Red in Blue PA · 75 replies
    McDonald's Corp (MCD) on Monday reported a bigger-than-expected drop in comparable global sales at established restaurants for February, hurt by competition and bad weather that battered U.S. sales.The world's biggest restaurant chain by revenue said worldwide sales at restaurants open at least 13 months fell 0.3 percent last month. That was below analysts' average estimate for a fall of 0.1 percent, according to Consensus Metrix.
  • Staples to shut 225 stores in North America as sales fall

    03/06/2014 4:24:24 AM PST · by Red in Blue PA · 119 replies
    (Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015. Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates. The company operates 1,515 stores in the United States and 331 stores in Canada.
  • ROSENBERG: 'The Chances Of A Recession In The Next Year Or Two Are Close To Zero'

    03/04/2014 11:52:35 AM PST · by blam · 29 replies
    Advisor Perspectives ^ | 3-4-2014 | Robert Huebscher
    ROSENBERG: 'The Chances Of A Recession In The Next Year Or Two Are Close To Zero' Robert Huebscher, Advisor Perspectives Mar. 4, 2014, 10:50 AM Following a lackluster recovery that began in June 2009, many fear the U.S. is due for another recession, given that the average post-war economic expansion lasted five years. But we’re only in the “fourth or fifth inning of the business cycle,” according to David Rosenberg, who predicts growth in consumer and capital spending – and positive returns for U.S. equities. “It takes a lot to shock the U.S. economy into a recession,” Rosenberg said. None...
  • Fed may need to let inflation run hot to meet goals: Evans (here it comes!)

    02/28/2014 3:14:58 PM PST · by Red in Blue PA · 21 replies
    NEW YORK (Reuters) - The Federal Reserve should be willing to let inflation temporarily run above its target level so as to more quickly bring the economy back to health, a top Fed official said on Friday, even as a second policymaker signaled the very idea left him cold. The debate, between Chicago Fed President Charles Evans and Philadelphia Fed President Charles Plosser, underscored a fundamental disagreement over the central bank's optimal approach to policy under new Fed Chair Janet Yellen. To Evans, one of the Fed's most dovish policymakers, allowing inflation to run above the Fed's 2-percent target would...
  • Consumer confidence falls in February

    02/25/2014 8:03:32 AM PST · by Red in Blue PA · 4 replies
    Consumer confidence sagged in February as expectations worsened, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0. The expectations index fell to 75.7 from a downwardly revised 80.8 last month. But the present sit
  • Food prices soar as incomes stand still

    02/17/2014 4:03:22 PM PST · by Red in Blue PA · 50 replies
    CBS ^ | February 15, 2014, 8:02 PM | Michelle Miller
    NEW YORK - Writer Jen Singer, the mother of two teenage boys, wrestles with her grocery list every week to keep the household budget from getting away from her. "I'd like the government to stop by my house, come food shopping with me and see where the real costs are," she said. The adage "An apple a day keeps the doctor away" is impossible thanks to apple prices, she said. "We go through one of these every few days," she said, holding a loaf of bread. "It's a big part of my take home pay."
  • Cold weather slams U.S. factory output, spurs growth fears

    02/14/2014 3:17:55 PM PST · by Red in Blue PA · 27 replies
    WASHINGTON (Reuters) - U.S. manufacturing output unexpectedly fell in January, recording its biggest drop in more than 4-1/2 years, as cold weather disrupted production in the latest indication the economy got off to a weak start this year. Though consumer sentiment was steady in early February, there are worries the persistent and widespread harsh weather could dampen the morale of households, whose budgets are being stretched by soaring heating bills. "The big question is whether the U.S. economy is slowing significantly or whether it is merely going through a soft patch caused by extreme weather. The evidence points to the...
  • Meet the 99.999999 Percent: They’re worried about jobs and growth, not inequality.

    02/10/2014 8:46:06 AM PST · by SeekAndFind · 1 replies
    National Review ^ | 02/10/2014 | James Pethokoukis
    Forget about the 1 percent versus the 99 percent. It’s really more like the 0.000001 percent versus everybody else. A tiny group — mostly comprising the Obama White House, a bunch of Washington Democrats, progressive economists, and the media elite — continues to fixate on income inequality as America’s greatest challenge. Most everybody else, the 99.999999 percent, sees things differently. Surveys continue to show Americans most worried about jobs and economic growth, not the income gap between the top and bottom. It’s a rational view given new employment data from the government. The January jobs report showed only 113,000 net...