Unemployed, But Still A Homeowner
There were two speeches by senior members of the US government about unemployment yesterday. The one that received the most attention was Federal Reserve chief Ben Bernanke’s talk at the Economic Club of New…
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Newest first · Page 378Unemployment: Then (1982) And Now
Fed Chairman Ben Bernanke commented today that he was concerned that the recovery will not be strong enough to support job growth next year. While the current recession in the United States has yet to be declared…
Bernanke Predicts 2010
Fed Chairman Ben Bernanke is spoke today in a speech to the Economic Club of New York which gives the bulls and the bears plenty of ammunition to support their ongoing cases. Bernanke told…
Japan GDP Moves Up At 4.8% Annual Rate
By Douglas A. McIntyre Japan’s GDP rose at an annual rate of 4.8% in the quarter ending September 30th. Most analysts had forecast a figure below 3%. It is not entirely clear how much…
The Swine Flu Epidemic Fails To Do Economic Damage
Swine flu vaccinations have been slow to get to those who want to be treated. The Centers for Disease Control and Prevention says that about 22 million American have contracted the disease and of…
Government Deficit Expands To $176 Billion In October
According the monthly Treasury report released this afternoon, the Federal Government posted a $176.4 billion deficit in the month of October. Total Government receipts came in at $135 billion. Of that $61.2 billion was…
The New Economy: Up 3% From Nothing
The CEO of American Express (NYSE:AXP) Kenneth Chenault said that credit card spending by his customer was up 3% in October compared to September and up 1% from October of last year. That is barely…
Waiting For Another Recession In The Spring
Some experts raised the issue of how long the recovery can last as unemployment went over 10% last week and the total number of people out of jobs or looking for full-time work topped…
Home For The Holidays: Consumer Credit Falls Apart
It looks more and more like people will not be traveling or shopping this holiday season. The Federal Reserve released its monthly consumer credit report which showed activity decrease at an annual rate of 6 percent…
Charting the Employment Data: Unemployment At 17.5%
Unemployment data were released today, showing the national rate to have reached 10.2% in October, its highest level since April of 1983. This number is the Government’s headline unemployment number, which is formally…
US Kicked Out Of Top Spot In World Economic Forum Survey
The World Economic Forum published its most recent Financial Development Report. In the executive summary of the study, written by Nouriel Roubini and James Biodeau, fifty-five countries were graded on seven scales: institutional environment,…
Signals From The Money Supply
Since the start of the financial crisis the Federal Reserve has grown the money supply with incredible speed. Inflation hawks have been crying bloody murder. To be sure, the amount of dollars in the…
GDP Forecast: Weak Q4 Followed By Tremendous 2010
The Commerce Department announced GDP growth of 3.5% for the third quarter, putting an exclamation point to the end of the recession. The power behind the improvement was, as usual, the consumer who has…
Deep Flaws In Stimulus Package Report: The Tale Of 30,000 Missing Jobs
The $787 billion economic stimulus package is meant to save or create 3.5 million jobs. That goal may be much less important than it was when the package was first approved by Congress. Unemployment will…
Durable Goods… Something For Everyone
Durable Goods for the month of September did come in positive, but under expectations. As a reminder, this is the most volatile of all of the large economic numbers. Orders came in at +1%…