The US economy is clearly in a depression… not a recession, not a recovery, but a DEPRESSION. More than 40 million Americans (12%) are on Food stamps. Nearly one in five of us are unemployed of underemployed. Folks go to Wal-Mart at 11PM waiting for their government checks to clear at midnight so they can […]
Distressed homeowners looking for a way out of their mortgage that doesn’t involve foreclosure may find relief is on the way from a new bill introduced in the U.S. House. The legislation would impose a deadline on lenders to respond to short sale requests, requiring them to return an answer to the borrower within 45 […]
The eurozone debt crisis is about to enter a critical phase as governments prepare to step up borrowing in the capital markets to fund their faltering economies. Some strategists are warning that some of the weaker economies could fail to raise the amount of money they need as eurozone governments attempt to issue double the […]
Peter Schiff– Watching economists and media analysts react to breaking economic news is a bit like looking at a flock of pigeons flying over the New York skyline. A true wonder of the urban landscape, the flocks can include hundreds of individuals who show an uncanny ability to stay in tight formation as the group […]
By Matt Taibbi – Rolling Stone How the nation’s biggest banks are ripping off American cities with the same predatory deals that brought down Greece If you want to know what life in the Third World is like, just ask Lisa Pack, an administrative assistant who works in the roads and transportation department in Jefferson […]
Peter Schiff– This week, national attention was fixated on JetBlue flight attendant Steven Slater, whose bold, creative, and controversial exit strategy could revitalize his future prospects. Not nearly as noticed was the Federal Reserve’s decision on Tuesday to avoid finding an exit strategy for its own never-ending career trap. Unfortunately, the Fed’s choices affect our […]
Federal Reserve policy is taking a worrying turn towards monetarism. This can only result in an American ‘lost decade’
By: Dan Weil Economists agree that if the U.S. government doesn’t get its fiscal house in order soon, a crisis will ensue. But Lawrence Kotlikoff, an economist at Boston University, says the crisis already is here. “Let’s get real. The U.S. is bankrupt,” he writes in a column for Bloomberg. “Neither spending more nor taxing […]
By: Dan Weil -The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one, says Keith McCullough, CEO of research firm Hedgeye. “That could lead the country to the brink of collapse,” he wrote in a Fortune magazine column. McCullough agrees with economists Carmen Reinhart and Ken Rogoff, who […]
White House made lots of claims about stimulus, including up to 3.6 million private-sector jobs. So far, they are 5.3 million jobs short. By Julia A. Seymour Business & Media Institute 8/4/2010 3:48:56 PM On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast […]
