Officially, the recession is behind us. That’s the good news. Officially, it ended in June of ’09. The bad news is – so what? Recession or no recession, people are having a hard time finding jobs and making ends meet. The US economy continues rumbling and trundling along.
September 24th, 2010 | Bill Bonner | 0 comments | ContinuedAll Posts Tagged With: "job"
Capital Inadequacy Government Spending Even the Tea Party Can Get Behind
The newly-declared end-date to the recession also confirms what many had suspected: The 2007-9 recession was the deepest on record since the Great Depression, at least in terms of job losses. From December 2007 to June 2009…
September 23rd, 2010 | Bill Bonner | 0 comments | Continued
Don’t worry, I’m a central banker!
The Bernanke-led Fed … announced on Aug. 10 it will buy Treasuries to set a $2.05 trillion floor on its balance sheet and keep interest rates from rising. Trichet said Aug. 5 that the euro-area economy was surpassing forecasts, which may pave the way for the ECB to look at phasing out its emergency lending measures.
August 28th, 2010 | Nickolai Hubble | 0 comments | Continued
The Idiots Guide to Repairing an Economy
Stocks went down early in the summer. We thought that was the beginning of the big “second shock” we’ve been waiting for. But we were wrong. The stock market rebounded. But now it is back at its July lows…and appears ready to keep going down. Why? Because small investors are leaving the stock market.
August 26th, 2010 | Bill Bonner | 1 comment | Continued
On the Importance of Vacation
While America’s super-rich congratulate themselves on donating billions to charity, the rest of the country is worse off than ever. Long-term unemployment is rising and millions of Americans are struggling to survive. The gap between rich and poor is wider than ever and the middle class is disappearing.
August 23rd, 2010 | Bill Bonner | 1 comment | Continued
The Economic Recovery Flop
After 18 months and $2.5 trillion in counter-cyclical budget deficits, people have begun to realize that the ‘recovery’ is a flop. What they haven’t realized – yet – is why. But, it’s summer…no one is doing too much thinking now. Obama went for a vacation in Maine. Hillary married her daughter. Economists are fishing.
August 10th, 2010 | Bill Bonner | 1 comment | Continued
US Treasury Secretary a True Believer in Economic Recovery
Consumer spending, pending home sales and factory orders were all weaker than projected in June, showing the US recovery lost momentum heading into the second half of the year as employment stagnates. Elsewhere in the news it is reported that more consumers than ever before are going bankrupt…
August 6th, 2010 | Bill Bonner | 0 comments | Continued
Housing Market Sinks Beneath the Waves
Already, millions of people are underwater. As housing prices fall, millions more will slip beneath the waves. Some will go down with the ship. But many will take to the lifeboats – sending back the keys instead. This will add to the number of foreclosures and to the inventory of unsold and vacant houses.
August 2nd, 2010 | Bill Bonner | 40 comments | Continued
Public Debt Replaces Private Debt in the Name of Progress
If the public sector tries to correct its debt at the same time it puts even more pressure on households and companies. Their income goes down (less government spending). And their taxes go up. So they cut back. Jobs are lost. So tax revenues fall. So the government’s deficit increases and it must cut even more.
July 23rd, 2010 | Bill Bonner | 1 comment | Continued
US Jobs Data: One Reason Why It Might Not Be Getting Better
Dow up 56 yesterday. Gold down $6. Deflation stalks markets and economies. Don’t believe us? Just look at the 10-year T note. It’s about the only thing that is going up. It means people want safety, safety and more safety. Of course, they will find little safety in T-debt. But that’s a long story…
July 21st, 2010 | Bill Bonner | 1 comment | Continued
Obama Considers New Job Tax Credit
Hey, why not! They had such great success with the Clunker tax credit…and with the first time house buyer tax credit.
October 8th, 2009 | Bill Bonner | 4 comments | Continued
Painting for Good Money
There must not have been an Occupational Safety and Health Administration back then. We worked high in the air without harnesses. In fact, we were handicapped; in our right hand was a mitt that we dipped into a paint can.
September 1st, 2009 | Bill Bonner | 0 comments | Continued
