A Fed Rate Increase In The Making
Ninety-nine out of one hundred economists say that the Fed will not raise rates this time around. The agency will express its concern about inflation and leave it there. The agnosticism about about the…
Economy
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Many Americans have taken the $168 billion in government largesse that the government granted them to spend on stimulating the economy on stimulating themselves. According to The New York Times of all places, a…
Blowhard Greenspan Writes School-Boy Essay On Recession
In the event that investors do not understand that banks are in trouble and that the global economy faces a deep recession, Alan Greenspan has written it all out. The former Fed boss is…
The Stagflation Kid Rides Again
Today’s inflation and employment numbers had the putrid scent of the recent past on them along with a whiff of a decaying future. Prices rose .8%, which takes the economy back to inflation rates…
What The 2009 Recession Looks Like Today
Orchard Lake, Michigan, August 3rd, 2008. A modest-sized office building with room for twenty tenants just north of this town of well-to-do homeowners does not have a single tenant. It is not unusual for…
Celebrating The Jobs Numbers, At The Dollar Store
The employment data for June was far from good, but also was not as bad as many estimates. You can gleam some good news if you want but the "less bad" stance sure seems…
Q2 GDP: The Recession Without A Recession
Today’s "OFFICIAL" Gross Domestic Product (GDP), or GNP for those of us old school guys, is somehow managing to hang in there. Today’s official Q2 preliminary GDP from the Commerce Department came in at…
Small Business Saves The Economy’s Bacon
There are a host of reasons why small business employment numbers should have been anemic in July. But, they weren’t. As a matter of fact, small business kept overall job growth from moving into…
Budget Deficit Balloons; Housing Slumps
Today’s economic news is downright depressing. The federal budget deficit is expected to rise to $482 billion, or 3.3 percent of GDP, up from $389 billion, or 2.7 percent of GDP, this year, according…
Even Healthy Companies Can’t Get Loans
In a turn that no one could have expected, the banking community is in such a tight credit fix that even companies with near-perfect credit cannot get loans. As one small company borrower told…
The Fed “Beige Book”: Bedtime Reading For The Demented And Depressed
The Federal Reserve’s most recent "beige book" is enough to frighten even the hearty and the brave. It may be one of the most pessimistic assessments of the economy to come out since the…
Small Business Turns Against “Uncle Sam”
Small businesses think they are being abandoned by the federal government just when they really need something in exchange for their tax dollars. A new poll from American Management Services reveals that almost no…
Federal Reserve: A Vote For Recession?
The old saw is that the Federal Reserve cannot battle inflation and recession at the same time. If true, it would appear that more agency governors are opting for letting an economic downturn run…
Citigroup (C) Chairman Sees Two-Year Housing Recession
If Citigroup (C) chairman Win Bischoff is right, then his bank and the US economy are going to be cornered by a deepening recession for the next two years. According to Reuters, the Citi…
Emerging Markets May Be Kings Of Inflation
The IMF is worried to death that emerging markets are facing substantial inflation and are doing nothing about it. If the agency is right, some of the most promising economies in the world could…