It’s no secret the U.S. economy has for the past several years been slogging along at a slovenly pace. Hopeful signs of recovery are peeking through in some areas of the country, but many more continue to struggle under the weight of collapsed housing markets and high unemployment. But even California, home to Silicon Valley and Hollywood and once the darling of the housing industry, is no longer feeling golden. [more]
Most Americans do not understand what the Federal Reserve is or why it is at the heart of our economic problems. When Americans get into discussions about the economy, most of them still blame either the Democrats or the Republicans for inflation, for the housing crash, for our rampant unemployment and for the national debt. But the truth is that the institution with the most power over our economic system is the Federal Reserve. [more]
"WHILE THE CIRCUMSTANCES surrounding both events are obviously quite different, the behavioral similarities can't be ignored: In 1987, the market hit bottom when investors feared the market would be closed, leaving them unable to get out at any price. That's exactly what panicked investors earlier this month in Japan." [more]
"For the first time in four years, our price comparisons between the two has shown that Target has a slight edge over Wal-Mart," said Craig Johnson. A smaller study by Kantar Retail found similar results. [more]
The other night I got home from work at my usual time (just after 9pm) and like most nights I flip over to Fox News to see if there's anything interesting on Hannity before looking for something else to settle on. I'm not a big Hannity fan, but I don't hate him the way a lot of people do, and it's usually better than whatever garbage my wife happens to be watching while I get settled. [more]
You can't miss the print ads for Ally Bank posted all over Chicago streets, almost laughable deceptions aimed at covering up the outfit's failed history and ongoing government ownership. [more]
The economic collapse of Japan has begun. The extent of the devastation is now becoming clear and many are now projecting that this will be the most expensive natural disaster in modern human history. The tsunami that struck Japan on March 11th swept up to 6 miles inland, destroying virtually everything in the way. Countless thousands were killed and entire communities were totally wiped out. [more]
One of the nation’s leading economic analysts, Yale University professor Robert Shiller, believes the Japanese earthquake could spark a huge worldwide stock market drop as early as this week.
He points to the fact that a similarly huge decline occurred within days of the Kobe earthquake in 1995, which did far less damage than Friday’s massive earthquake and tsunami.
“There was a huge worldwide stock market drop a full week after that earthquake. That’s the kind of thing we have to worry about now,” Shiller told CNBC. [more]
"MANY PEOPLE REMEMBER when the Dow Jones Industrial Average dropped 20% on Black Monday in 1987. What they forget is that the year actually ended with a gain in the market." [more]
Our little bull market is two years old today… They grow up so fast! To begin the festivities, please put on your party hats. [more]
When Barack Obama, the Federal Reserve and the mainstream media tell us that we are in the middle of an economic recovery, is that supposed to be some kind of sick joke? According to newly released numbers, over 44 million Americans are now on food stamps. That is a new all-time record and that number is 13.1% higher than it was just one year ago. So how many Americans have to go on food stamps before we can all finally agree that the U.S. economy is dying? 50 million? 60 million? All of us? The food stamp program is the modern equivalent of the old bread lines. More than one out of every seven Americans now depends on the federal government for food. Oh, but haven’t you heard? The economy is showing dramatic improvement. Corporate profits are up. The stock market is soaring. Happy days are here again.
It just seems inconceivable that anyone can claim that the economy is improving when the number of Americans on food stamps continues to set a brand new record every single month. But the food stamp program is not the only indicator that the economy is still having massive problems. The following are 10 more reasons why the U.S. economy is simply not getting any better…. [more]
Want to know a big reason for our rising taxes, deficit and deep debt? Blame waste. Says who? The government that’s wasting the money. [more]