We have a $13 TRILLION dollar debt that is generating an additional $4 billion dollars in interest every single day of the year, so $4b X 365 days a year equals $1.460 TRILLION dollars more in debt each year, and the last time I checked that was more than all annual government income sources combined. […]
Mary Umberger, Chicago– People who have been delaying putting their homes on the market should do it soon because prices may go down 5% to 8% as banks unload a glut of repossessed properties, Steve Harney tells agents. Sell now, avoid (some) regret later. That was Steve Harney’s advice recently to a roomful of real […]
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 […]
WASHINGTON — The Spanish professor is puzzled. Why, Gabriel Calzada wonders, is the U.S. president recommending that America emulate the Spanish model for creating “green jobs” in “alternative energy” even though Spain’s unemployment rate is 18.1 percent — more than double the European Union average — partly because of spending on such “green” jobs? Calzada, […]
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, […]
Trend forecaster, renowned for being accurate in the past, says…. The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions – all within four years, while cautioning that putting food on the table will be a more pressing […]
When it comes to the housing market, two things get talked about regularly: the bottom and a recovery. However, these two terms mean very different things and don’t occur at the same time. Some have predicted that we have yet to see a housing bottom, while others say we may have hit the bottom and […]
Did you see Federal Reserve Chairman Ben Bernanke on 60 Minutes the other night? Bernanke portrayed the Federal Reserve as the great protector of the U.S. economy, he claimed that unemployment would be 15 percent higher if the Federal Reserve had sat back and done nothing during the financial crisis and he even started laying […]
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 […]
“For generations, parents have told their children about “The American Dream.” Basically it has meant building a life based on the foundational principles that created and have sustained America for more than 200 years.” Greater than any other country in the modern world, the United States offered, from 1776 to 2010, unprecedented opportunities to the […]
