The US unemployment rate in September was 6.1%. The consensus estimates are that the numbers will rise, but there are differences over how much. The Bloomberg News survey of economists gives an average prediction…
Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of job losses across huge…
The Commerce Department gave the preliminary U.S. third quarter GDP, and it has come in at levels which finally reflect the recession we have been saying we are in since the end of Q1. …
When the stock markets around the world raced down earlier this month, there was some sense to it. The credit and liquidity troubles were real. Corporate earnings became progressively troubled. Layoffs showed clear signs…
The FOMC decision on interest rates was due at 2:15 PM EST, and we got a rate cut decision a tad late today A cut was already expected and the only real variable was…
The Commerce Department has reported that Durable Goods for September have somehow managed to beat expectations this morning. While the durable goods report for big ticket items is the most volatile of all numbers…
The Fed may cut more than expected. Wall St. is hoping for half a point, but three-quarters may be more likely Some economists would make the argument that the recession the world economy is…
The Conference Board has released a dismal reading of Consumer Confidence. In fact, this looks like a record low. Consumer confidence in October was given an index reading of 38.0. Economists were looking for…
No one with an abacus, a calculator, or a mainframe will ever know what the global credit crisis has cost in real money. Lost jobs means lost tax revenue. Lost bank capital means a…
Too many mouths to feed. Someone will have to starve. Now that Henry Paulson has $700 billion and some discretion about how to spend it companies from car manufacturers to airlines want a piece.…
The DJIA could drop 1,000 points today. Japan was down 10%. The sell-off rolled across Asia and then hit Europe. Dow futures got down almost 600 points. There is some confusion about why this…
No matter where economists look there is no evidence that a recession in the US, EU, and Asia is doing anything but deepening. The stock markets are the least of it. Some of the…
Liars and thieves have always been popular figures in America. Is there another country where Billy the Kid and John Dillinger would be more well-known and highly regarded by the average citizen than Woodrow…
If you have had a hard time swallowing the direct plain English of the modern Federal Reserve heads, help is on the way. Former Federal Reserve Chairman Alan Greenspan is speaking to the House…
Perhaps it is because this is an election year, but everyone is going around asking "Are we better off than we used to be?" It is not just the baby-kissing politicians. People are being…