Latest Articles: Economy
Durable Goods Demand Points to Second-Half U.S. Rebound
Post Date: 2013-05-24 14:58:14 by Brian S
By Alex Kowalski - May 24, 2013 Orders for U.S. durable goods increased more than forecast in April, indicating the worlds largest economy will get a lift in the second half of the year as business investment strengthens. Bookings for equipment meant to last at least three years increased 3.3 percent last month after dropping 5.9 percent in March, the Commerce Department said today in Washington. The median forecast from 78 economists surveyed by Bloomberg projected a 1.5 percent increase. Gains in residential construction, growing demand for autos and the need to update equipment will probably ripple throughout manufacturing, helping the economy recover from a slowdown this ...
Retail Apocalypse: Why Are Major Retail Chains All Over America Collapsing?
Post Date: 2013-02-18 23:09:09 by hondo68
By Michael, on February 17th, 2013 If the economy is improving, then why are many of the largest retail chains in America closing hundreds of stores? When I was growing up, Sears, J.C. Penney, Best Buy and RadioShack were all considered to be unstoppable retail powerhouses. But now it is being projected that all of them will close hundreds of stores before the end of 2013. Even Wal-Mart is running into problems. A recent internal Wal-Mart memo that was leaked to Bloomberg described February sales as a "total disaster". So why is this happening? Why are major retail chains all over America collapsing? Is the "retail apocalypse" upon us? Well, the truth is that this is ...
GDP Shows "Surprise" Drop for U.S. in Fourth Quarter
Post Date: 2013-01-30 16:51:00 by Capitalist Eric
The U.S. economy posted a stunning drop of 0.1 percent in the fourth quarter, defying expectations for slow growth and possibly providing incentive for more Federal Reserve stimulus. The economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles. The Commerce Department said Wednesday that the economy contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter. The surprise contraction could raise fears about the economy's ability to handle tax ...
Standstill: The Charts That Prove The Global Economy Is In Serious Trouble
Post Date: 2012-12-13 22:49:37 by Capitalist Eric
Amid growing concern that the global economy is teetering on the edge of a total collapse, governments in Europe, China and the United States continue to manipulate statistics in an effort to paint a picture of recovery and a return to normalcy. But despite their best efforts to fabricate positive employment numbers, GDP growth, currency stability and stock market health, the stark reality is that the global economy is at a standstill, and has been since before the crash of 2008. Economic growth is measured by how much we produce and consume, and before the bursting of the bubble there was an unprecedented level of consumption in America and throughout the rest of the world. But when ...
Explaining The U.S. Economy Via Star Wars
Post Date: 2012-12-13 12:26:14 by Capitalist Eric
55 Reasons Why California Is The Worst State In America
Post Date: 2012-12-13 10:24:35 by hondo68
Why in the world would anyone want to live in the state of California at this point? The entire state is rapidly becoming a bright, shining example of everything that is wrong with America. It is so sad to watch our most populated state implode right in front of our eyes. Like millions of Americans, I was quite enamored with the state of California when I was younger. The warm weather, the beaches, the great natural beauty of the state and the mystique of Hollywood all really appealed to me. At one point I even thought that I wanted to move there. But today, hordes of Californians are racing to get out of the state because it has become a total nightmare. It is the worst state in the ...
Economic Crisis Fuels Military Intervention As The Chemical Weapons ‘Threat’ Becomes The New Pretext
Post Date: 2012-12-10 23:36:49 by hondo68
Durban, South Africa: The US economy is sluggish with fears of a new recession. The Democrats and Republicans once more cannot agree on what to do about the alleged fiscal cliff that threatens to further unravel the economy, even as analysts say that the whole notion of going over the cliff has been fabricated by the right to force more cuts in social benefits. Consumer confidence is dipping in this festive season of global shoppingnot a good sign, since consumption and spending at the malls is an economic driver with 70% of economic activity based on getting consumers to buy even when it means they must go deeper and deeper in debt using credit cards and ...
Arbiter Wins Jobs Back For Fired Auto Workers Busted For Boozing on the Clock (UAW, Chrysler)
Post Date: 2012-12-10 22:24:26 by hondo68
Chrysler auto workers fired two years ago after an investigation revealed they spent their lunch breaks violating company policy were awarded back their jobs after arbitration concluded last week, Fox Detroit reports. WJBK-TV in Detroit was tipped off two years ago shortly after the auto bailout that resuscitated Chrysler that its factory employees would spend its lunch breaks smoking and drinking in violation of company policy. The timing could not have been worse as it was the midst of the Imported from Detroit marketing campaign to go along with the factory-in-question being the same plant that President Barack Obama would visit to claim bailing out the auto industry as a ...
America not paying its fair share
Post Date: 2012-12-03 19:11:16 by Capitalist Eric
You cannot simultaneously enjoy American-sized taxes and European-sized government. One or the other has got to go. Previously on "The Perils of Pauline": Last year, our plucky heroine, the wholesome apple-cheeked American republic, was trapped in an express elevator hurtling out of control toward the debt ceiling. Would she crash into it? Or would she make some miraculous escape? Yes! At the very last minute of her white-knuckle thrill ride to her rendezvous with destiny, she was rescued by Congress' decision to set up... a Super Committee! Those who can, do. Those who can't, form a committee. Those who really can't, form a Super Committee and then put ...
Post-US world born in Phnom Penh [Game OVER]
Post Date: 2012-11-30 12:11:30 by Capitalist Eric
It is symptomatic of the national condition of the United States that the worst humiliation ever suffered by it as a nation, and by a US president personally, passed almost without comment last week. I refer to the November 20 announcement at a summit meeting in Phnom Penh that 15 Asian nations, comprising half the world's population, would form a Regional Comprehensive Economic Partnership excluding the United States. President Barack Obama attended the summit to sell a US-based Trans-Pacific Partnership excluding China. He didn't. The American led-partnership became a party to which no-one came. Instead, the Association of Southeast Asian Nations, plus China, India, Japan, South ...
Do You Live In A Death Spiral State?
Post Date: 2012-11-28 13:52:45 by jwpegler
Dont buy a house in a state where private sector workers are outnumbered by folks dependent on government. Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Dont put it in a state at high risk of a fiscal tailspin. Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii. If your career takes you to Los Angeles or Chicago, dont buy a house. Rent. If you have money in municipal bonds, clean up the portfolio. ...
More Americans Will Use Food Stamps For Thanksgiving This Year Than Ever Before
Post Date: 2012-11-21 13:24:13 by Capitalist Eric
More Americans will use food stamps to buy their Thanksgiving dinner this year than ever before, according to a new report from the nonprofit government watchdog group The Sunlight Foundation. The Food Stamp Challenge, which challenges higher-income families to live as if they are on food stamps, estimates that a person on food stamps has a budget of about $1.25 per meal. In other words, a family on food stamps must buy an entire meal per person for less than the cost of an average cup of coffee. Usage of food stamps among low and no-income families has spiked since the collapse of the U.S. financial system four years ago. According to the U.S. Department of Agriculture, average ...
Economic Disintegration is Almost Here [Obamanomics]
Post Date: 2012-11-20 19:13:40 by Capitalist Eric
The disintegration of an economy and a society can take two courses. One course is like rust. It is slow and barely perceptible. The other is a sudden collapse. The first course, if left untended, eventually turns into the second. The US economy is now rusting away. Arguably it has been for decades. For anyone interested in looking, the signs are there. They will soon become unavoidable for even the most disinterested of our citizens. Dan Amoss correctly described what is happening as a result of Washington's overbearing involvement in the economy: All government-directed economic activity grows at the expense of the private sector. And the election suggests ...
Fed Tweet to Savers and Investors: Drop Dead
Post Date: 2012-11-20 12:17:27 by Capitalist Eric
Can you identify the one major economic issue that was all but ignored by both major parties (but not by Ron Paul) in the recent presidential election? I can
and its not the so-called "fiscal cliff" problem currently being debated in Washington. Its the Federal Reserves crazy monetary policy of repeated "quantitative easing" and extremely low interest rates. Both President Obama and Governor Romney had several heated debates about taxes, government spending, deficits and government debt. They did not agree on almost anything but at least they recognized that these macro-economic fiscal policies were important in any serious analysis of ...
The Twinkie That Broke The Economy's Back? [Continuing Economic Collapse]
Post Date: 2012-11-19 16:57:08 by Capitalist Eric
Can you hear that sound? It is the sound of the air being let out of the economy. Since the election, there has been a massive tsunami of layoffs and business failures. Of course the company that is making the biggest headlines right now is Hostess. On Monday, Hostess will be in a New York bankruptcy courtroom as it begins the process of liquidating itself. Needless to say, Twinkie lovers all over America are horrified. Many are running out to grocery stores and hoarding as many as they can find, and some online sellers are already listing boxes of 10 Twinkies for as much as $10,000 on auction websites such as eBay. Well, there is really no reason to panic. It is very likely that another ...
Is America ready for a Mexican Twinkie? Bankrupt Hostess 'to sell beloved snack to cake company south of the border'
Post Date: 2012-11-19 12:03:39 by Murron
Is America ready for a Mexican Twinkie? Bankrupt Hostess 'to sell beloved snack to cake company south of the border' A Mexican company may come to the rescue of Twinkies-loving Americans across the country as it looks to acquire the bankrupt Hostess Brands to keep its lip-smacking-sweet confections on store shelves for years to come. Mexican company Grupo Bimbo is reportedly eyeing Hostess Brands, the company that makes Twinkies, Ding Dongs and Ho Ho's, after Hostess announced last week that it would shutter and liquidate its 33 bakeries. News of Hostess Brands' liquidation struck fear in the hearts of Twinkies loyalists across the country, who scrambled to snatch up the ...
The Worst Economic Numbers In More Than A Year
Post Date: 2012-11-16 10:30:39 by hondo68
With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are ...
Will The Wealthy Race To Dump Stocks And Other Financial Assets Before The Fiscal Cliff Kicks In?
Post Date: 2012-11-14 11:22:07 by hondo68
The election results made it abundantly clear that taxes are going to be going up, and right now a lot of wealthy people all over America are trying to figure out how to best position themselves for the hit that is coming. There are a whole host of tax cuts that are set to expire on December 31st, and many analysts are now speculating that we could see a race to dump stocks and other financial assets before 2013 in order to get better tax treatment on those sales. Of course it is still possible that Congress may reach a bargain which would avoid these tax increases, but with each passing day that appears to be increasingly unlikely - especially regarding the tax increases on the wealthy. ...
Obama Re-election Prompts Largest Stock Market Drop in a Year (Marxist Kenyaphobia)
Post Date: 2012-11-07 14:36:28 by hondo68
Stock markets responded to Obamas re-election by plunging today. The Dow tumbled below 13,000 as the S&P broke 1,400, beating this years drop on June 1. All S&P sectors are now mired in the red with financials and energy leading the charge. The last time the market plunged as much: literally one year ago, or November 9, 2011. Sadly, it appears that one cant have their Dow Jones Industrial Average and redistribute it too, notes Zero Hedge. Wall Street had placed its bet on Romney and the Republicans because they promised to retain tax cuts and impose spending cuts. Republicans, of course, are not really interested in spending cuts, as Romneys ...
ADP "Cancels" 365,000 Private Jobs Created In 2012 [Economic Collapse Continues]
Post Date: 2012-10-31 14:59:47 by Capitalist Eric
Frequent readers know that in addition of any "data" and "numbers" out of Larry Yun's National Association of Realtors, which we openly boycott as these are consistently manipulated (recall the massive historical December 2011 revision), slanted and conflicted, the second dataset which we have mocked with a passion is anything coming out of the ADP, which every month releases its "Private Jobs" number a day before the official BLS Non-farm Payroll data. Today, our mockeries have been proven 100% spot on. The reason? A week ago, ADP announced that going forward it would coordinate with Moody's (yes, that Moody's), and especially its chief economist, ...
The Virtual Recovery [And the Reality of the Continuing Economic Collapse]
Post Date: 2012-10-30 02:01:40 by Capitalist Eric
Since mid-2009 the US has been enjoying a virtual recovery courtesy of a rigged inflation measure that understates inflation. The financial Presstitutes spoon out the governments propaganda that prices are rising less than 2%. But anyone who purchases food, fuel, medical care or anything else knows that low inflation is no more real that Saddam Husseins weapons of mass destruction or Gadhafis alleged attacks on Libyan protesters or Irans nuclear weapons. Everything is a lie to serve the power-brokers. During the Clinton administration, Republican economists pushed through a change in the way the CPI is measured in order to save money by depriving Social Security ...
Counterfeit Economies Facing Waves of Insolvency, Bonds the Ultimate Malinvestment [The Downward Spiral Continues]
Post Date: 2012-10-26 17:38:30 by Capitalist Eric
The Mayan calendar points to the end of the world coming in December. It may not end on that date but major disruptions can be anticipated. CENTRAL banks have fully uncorked the printing presses to meet the waves of insolvency set to STRIKE the banksters, public servants and the elites. Transferring your wealth to themselves and their something for nothing societies to PAY for their moral and fiscal insolvencies. There is an incredible number potential crisis in the short term (3 to 6 months); any one could spark a major financial, economic and political crisis by themselves. Taken together they practically GUARANTEE it. Fat tails and black swans loom. They really are only black swans and ...
Obama And Romney Both Favor A One World Economic System That Kills American Jobs
Post Date: 2012-10-22 10:55:02 by hondo68
Either way this election turns out, American jobs are going to continue to get slaughtered by the millions. During this campaign, Mitt Romney and Barack Obama have both attempted to portray each other as the "outsourcer in chief". Unfortunately, they are both right. Barack Obama and Mitt Romney have both participated in the outsourcing of American jobs, and both are openly admitting to the American people that they favor the emerging one world economic system which will continue to destroy millions of American jobs. In fact, they argue with each other about which of them will be more aggressive in pursuing more "free trade" agreements over the next four years. ...
BLS Keeping Up Statistical Appearances
Post Date: 2012-10-15 13:42:51 by Capitalist Eric
Last week, supporters of the current administration rejoiced over job numbers released by the Bureau of Labor and Statistics (BLS). For the first time since the administration came to power, the official unemployment number fell below 8%. Keynesian cheerleaders all claimed the numbers meant we are surely on the road to economic recovery, just in time for Christmas, and also, the election. Others saw through this ruse. The situation on the ground looks nothing like a recovery. 23 million people are still out of work or chronically underemployed. This number is expected to rise dramatically next year. The situation in Washington should not give anyone cause for optimism. Politicians refuse ...
NFIB - Small Businesses Don't Agree With BLS [Ongoing Financial Collapse]
Post Date: 2012-10-09 19:24:52 by Capitalist Eric
Since the release of the most recent BLS Employment Situation Report, which showed an astounding drop in the unemployment rate, I have spent a good bit of time dissecting the release and discussing why the real unemployment rate is really between 17% and 22% depending on how you calculate it. (See Here and Here) However, today's release of the September NFIB Small Business Survey shows the extent to which the current BLS employment calculation method may have detached from reality. From the NFIB report: "September was another month of low expectations and pessimism for the small-business community, with the NFIB Small Business Optimism Index losing 0.1 points and falling to 92.8. ...
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