By: Daniel Amerman Overview The real US unemployment rate is not 9.8% but between 25% and 30%. That is a depression level of job losses – so why doesn’t it look like a depression for many people? How can so large of a statistical discrepancy exist, and how is it that holiday shopping malls are […]
For years, people have been laughing at the horrific economic decline of Detroit. Well, guess what? The same thing that happened to Detroit is now happening to dozens of other communities across the United States. From coast to coast there are formerly great manufacturing cities that have turned into rotting, post-industrial war zones. In particular, […]
If you had plans to take a holiday in Greece, my advice would be to switch those plans. The following video is much more violent than protests we have seen in the past. Athens is looking more like a war torn city, also this week Riots in Moscow Russia over immigration concerns. Riots on this […]
A top economic adviser to the Democratic Party, speaking on deep background, told WMR that the domino-like collapse of the economies of Iceland, Greece, Ireland, and, now, possibly Spain, is coming also to the United States. One of the triggering mechanisms will be at the end of this month when two million idled workers, now […]
Almost two weeks ago an unidentified missile was launched from somewhere off the coast of Los Angeles, and wide speculation as to what the hell it was has followed. A leading theory is that a Chinese missile launched from a submarine. The Chinese have spent the last 30 years building their army and economy and […]
During the 1950s and 1960s, the United States was the richest and most envied country in the world. It was also unrivaled as the world’s manufacturing powerhouse. Americans proudly regarded their country is a model, and many people around the world agreed. Today, the US is still the world’s largest economy and pre-eminent military power, […]
Citi’s crack FX strategist Steve Englander reacts to Bernanke’s big speech where he slammed China, and concludes that Bernanke is committed to a lower dollar. Thus: You should be a seller. Here’s Englander: We would sell the dollar off this speech. It is hard enough stop a central bank from weakening its currency when it […]
19 Facts About The Deindustrialization Of America That Will Blow Your Mind The United States is rapidly becoming the very first “post-industrial” nation on the globe. All great economic empires eventually become fat and lazy and squander the great wealth that their forefathers have left them, but the pace at which America is accomplishing this […]
The conventional wisdom in Washington and in most of the rest of the world is that the roaring Chinese economy is going to pull the global economy out of recession and back into growth. It’s China’s turn, the theory goes, as American consumers — who propelled the last global boom with their borrowing and spending […]
Bucking the Federal Reserve’s efforts to push interest rates lower, investors are selling off U.S. government debt, driving rates in many cases to their highest levels in more than three months. The Fed’s $600 billion program to buy Treasury bonds began late last week and is kicking into high gear this week, with the central […]
