WASHINGTON – The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed. Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month […]
Bond markets could get very nasty over the coming months, while stock investors could take a few months off and stop attempting to trade volatile swings in the markets, Anthony Fry, senior managing director at Evercore Partners, told CNBC Monday. “The current problems will be with us for 5 years or more and uncertainty is […]
By MICHELLE STEEL 2010-06-01 15:19:40 California’s liberal politicians are clamoring to denounce Arizona’s attempt to deal with illegal immigration. The city of Los Angeles has authorized a boycott of Arizona, and calls for boycotts have been heard in San Francisco and in the state Capitol. War has been declared on a neighboring state that is […]
With the mainstream media focusing on the country’s leveling unemployment rate, improving retail sales, and nascent housing recovery, one might think that the US government has successfully navigated the economy through recession and growth has returned. But I will argue that a look under the proverbial hood reveals a very different picture. I believe the […]
#1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy? In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011. Is a rapidly increasing number of Americans on food stamps a good […]
If monthly Foreclosures double (hypothetically) to 180k from April’s record 92.5k and stay at that level — based upon the 1) monthly average Notice-of-Default (NOD) 2) HAMP and private mortgage mod volume 3) and conservative cures and redefault rates — it will take 42 months to clear the portion of the 8mm loans presently in the distressed pipeline […]
By: Dan Weil– The carnage isn’t over for the euro, which has dropped to a four-year low against the dollar, says investment guru Dennis Gartman. Europe’s financial crisis will continue to drive the common European currency down — below $1.20, says the publisher of The Gartman Letter. The euro recently traded at $1.2240. “It’s having […]
NEW YORK (Reuters) – In a bid to reduce outsourcing of U.S. jobs, a Democratic senator said on Sunday he will push legislation to make companies inform customers when their calls were being transferred outside the United States and charge companies for those transferred calls. “This bill will not only serve to maintain call center […]
The large-scale government intervention in the economy is going to end badly. Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to […]
Mervyn King, Governor of the Bank of England, has warned the U.S. is heading for a financial “meltdown.”
