The Congressional Budget Office released new data that cover its forecasts for the economy in the short term and also for the next decade. The report is voluminous, but its one outstanding feature is…
Hurricane season is not just underway; it is in full swing. This poses a new danger to the economy due to the threat to rigs and refineries in the Gulf of Mexico, as well…
A 4% collapse of the markets today pushed the DJIA under 11,000 for the second time in two weeks. The market sentiment now is such that the index may be under that benchmark for…
If you pick through the FOMC statement made by Ben Bernanke and friends today, you will get a picture of just how bad things are in the economy. We transposed the entire statement and…
The markets were anticipating some additional accommodative commentary from the FOMC from its one-day meeting statement today. The market has pushed back any chances of a rate hike out to 2013 before he meeting…
The sell-off, which has driven most stock markets around the world down by 10% in the last week, is likely to get worse. It is a sign that many believe a new recession has…
Newspaper headlines focus on the national unemployment rate. But the effects of joblessness are often very local as towns and cities lose tax revenue and have to care for those out of work. Unemployment…
Markets rose yesterday, to some extent on a belief that the Federal Reserve would try to boost the economy through a third round of quantitative easing. This has become known as QE3, a reprise…
The July 2011 Manufacturing ISM Report was devastating and sent stocks reeling downward. The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey…
As the epic conflict over the debt ceiling draws on, President Obama is besieged by denunciations from the right while fielding a blitz of disapproval from the angry left. The Democrats feel betrayed by…
The Commerce Department is delivering some awful news on the second quarter preliminary Gross Domestic Product in the U.S. GDP is coming in at a preliminary second quarter level of a mere 1.3%. Dow…
The DJIA has fallen from 12,745 a week ago to 12,330. If recent history is any indication, that move down could quickly become a 2,000 points one if the federal government cannot come up…
The consensus estimate for Q2 GDP is 1.6%, and there are a number of reasons to think that number will go to zero in the current quarter. The Q2 data will be released on…
The Republican House and the administration have not come any closer to legislation to increase the debt cap than they were last week, but the markets have barely reacted at all. Asia markets were…
“We have now run out of time,” the president declared on Friday. Up to now, the financial markets have remained remarkably sanguine, sharing the widely-held assumption that for the United States to default on…