Then, they said the numbers were getting better each month – inevitably leading to a recovery by the end of the year. They predicted a loss of 365,000 jobs in June – considerably fewer than in May. Instead, the figures – even after they had beaten them up – said 467,000 jobs had gone, which was considerably more than May’s figure.
July 6th, 2009 | Bill Bonner | 1 comment | ContinuedAll Posts Tagged With: "job losses"
Aussie House Prices Face “Perfect Storm”
“The Australian housing market is facing the prospect of a ‘perfect storm’ of financial pressures, including high mortgage debt, overvalued homes and rising unemployment, which could see prices eventually fall by as much as 30 per cent, investors have been warned,” reads a story in today’s Age.
March 18th, 2009 | Dan Denning | 43 comments | Continued
The Credit Depression
“How bad do you think it will get,” asked a friend in an e-mail yesterday. Our friend has a Master’s Degree in Classics (Latin and Greek). We know that when he starts wondering what’s going on in the economy there are probably a lot of other people starting to sit up and question their basic economic beliefs too. In Latin, a creditum is a loan or thing entrusted to another. The Latin for “to entrust” or “to believe” is “credere.” The word “creed” also has similar origins, as you can see.
January 8th, 2009 | Dan Denning | 7 comments | Continued
Cursing the Loss of Purchasing Power
Thomas G. Donlan’s new essay in Barron’s is titled “Lands of Waste and Debt” with the subhead “The states send signals that it will not be a happy Spring”, which makes me ask the obvious question “It won’t be happy for who?”, as I am all in gold, silver and oil, and I am dead-bang sure that I will be VERY happy for a long, long time because I know what happens to those particular items when a moronic, corrupt government teams up with a central bank…
April 15th, 2008 | Mogambo Guru | 7 comments | Continued