Rumor has it that several auctioneers collapsed from exhaustion during the four-day process of selling 9,000 homes and properties which have been seized by tax collectors in Wayne Country, Michigan. Detroit sits inside the borders…
Moody’s (NYSE:MCO) lead analyst covering US debt said that the Amercan goverment could lose its “AAA” rating if it cannot cut the deficit and budget gaps in the next three to four years. Steven Hess…
Table 1. Total Receipts, Outlays, and Deficit (in billions of dollars) Receipts Outlays Deficit FY2008 Actual 2,524 2,978 -455 FY2009 Estimates May 2009 Budget 2,157 3,998 -1,841 August 2009 Mid-Session Review 2,074 3,653…
24/7 Wall St. is conducting a series of interviews with prominent economist and market strategist. Jason DeSena Trennert is the Managing Partner, Chief Investment Strategist at Strategas Research Partners LLP. The conversation:
People collecting Social Security have been getting cost-of-living increases since the program to up payments went into effect in 1975. The inflation calculation used to set the increases was negative this year. The Administration…
The financial crisis has too many pieces to follow even if it is being resolved and brought to an end as many experts expect. The end is still far off, at least as long…
The US economy roared back from nearly two years of deep recession in the third quarter of this year. The Blue Chip Economic Indicators, a regular poll of top economists, says that GDP rose…
The Conference Board issues a report called “CEO Confidence” on a quarterly basis. It is probably without surprise that the gains in the second quarter were also gains in the third quarter. Its index…
The latest Dow Jones survey of economists, which polled 48 experts, showed that, showed on average they believe that unemployment will peak at 10.2% this February and then remain above 6% until sometime in…
Alan Greenspan stated the obvious recently when predicted unemployment would rise over 10% soon. He also said that extending unemployment benefits should not be considered a part of the stimulus package because the action…
The consensus expectations for September jobs were that another 167,000 people would lose their work. Goldman Sachs (GS) yesterday issued a much more pessimistic forecast of 250,000 jobs lost taking US official unemployment to 10%. The…
For the first time, a federal government official has said that that odds of a double recession are almost gone. Richmond Federal Reserve President Jeffrey Lacker, in an interview with Bloomberg TV, said that the…
The IMF upgraded its estimates for 2010 GDP growth in almost every country and region in the world based on its belief that the recession is receding rapidly into the past. Among the more interesting…
It appeared that traders were prepared to accept the theory of a “jobless recovery” early in the session. The Commerce Department said that GDP dropped only .7% in the second quarter compared to an…
The US markets will be up over 15% for the third quarter barring any wild swings up or down in the last day of the period. It is an extraordinary performance since the three…