Small Businesses Dominate Job Losses
Job losses at companies with fewer than 50 workers eclipsed larger companies when it comes to job cuts according to new data from the Labor Department. The information covers the last quarter of 2009.…
Economy
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The heads of the regional Federal Reserve banks are thinkers, but they may not be doers. Narayana Kocherlakota, the President Federal Reserve Bank of Minneapolis, said today that “unemployment will remain above 8 percent…
A Quiet Panic About Job Security
Behind every American who does not have a job there are apparently many who are concerned about whether they will keep their own. Depending on whether joblessness is 9.6% or the 17% which includes…
American Despair Grows
Americans’ despair about the economy shows up so often in research studies that the results have become redundant. But, the malaise actually deepens with each new piece of data. The troubles that US citizens…
The July Federal Budget Numbers–The Trouble Continues
The Treasury should be happy with its July 2010 budget report. The deficit fell from $180 billion in the month last year to $165 billion in the most recent month–something that the Administration can…
US Economists Wake Up And See A Crisis
The second half of this year will be worse than the first–economically. That is what economists are saying now that they have looked at the Federal Reserve notes, the unemployment numbers, and housing data.…
Personal Income Falls In Most Cities–Except Washington DC
Washington DC is a good place to work during a recession. Information from the Commerce Department shows personal incomes declined in 233 cities and rose in 134 in 2009. In nine cities, the figure…
Huge Surge In German Exports–At Least One Country Is Growing
The economy of one Western nation is growing rapidly–Germany’s. The Federal Statistics Bureau said that exports rose 28.5% in June compared with a year ago. Germany exported commodities to the value of EUR 86.5 billion…
The Stimulus Debate Gets Ugly
The debate about whether the Congress and the Administration should push through another stimulus bill has gotten uglier. Some of the president’s advisers, including Christina Romer, the departing Chair of the Council of Economic…
A Novel Idea–Tax The Rich
Making the rich pay higher taxes is an ancient notion that budget gaps can be filled by forcing a heavy levy on the 1% or 2% most wealthy people in any developed nation. Tim…
Small Business Despairs, Despite Rumors Of A Recovery
The government and most economists say that the recession is over. It ended late last year, in fact. Several recent polls of consumers show that the average American believes that the recession is still…
The Ghosts of GDP
Gross Domestic Product showed another positive figure for the Q2-2010 period but not as good as seen before and a less than what economists were expecting. The Commerce Department reported that GDP rose by…
IMF On US Future: Risk Of Housing Double Dip And Lack Of Resolve To Solve Problems
The IMF lauded the efforts of the U.S. government to reverse a move of the economy toward depression with stimulus spending and rapid changes in Fed policy. The risks to future slowing are not…
The Wealthy Will Save Troubled Social Security
Many financial experts and analysts believe that the national debt and high deficits will mean that the federal government will have to make tremendous cuts in spending before the end of the decade. Former…
Local Governments May Slash Nearly 500,000 Jobs, Ruin Unemployment Forecasts
The Administration said last week in its mid-year report to Congress that unemployment would remain above 9% until the beginning of 2012. That goal may be a struggle, as there is growing evidence that…