Keyword: recovery

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  • Housing Recovery? Try Long Convalescence

    09/18/2012 3:08:15 PM PDT · by blam · 4 replies
    Advisor Perspectives ^ | 9-18=2-12 | Russ Koesterich
    Housing Recovery? Try Long Convalescence iShares Blog By Russ Koesterich September 18, 2012 The US Federal Reserve’s decision to expand quantitative easing is dramatic, but we don’t think it will have a significant impact on the US housing market. While the extra liquidity is supportive of risky assets in the very near-term, lower mortgage rates are not a game-changer for a consumer still struggling with little income growth and too much debt. Certainly, the prospect of buying another $40 billion a month of mortgage-backed securities will help keep home-loan rates low for a long time, but they were already low....
  • Franchisors warn Obamacare will halve profits

    09/13/2012 2:33:05 PM PDT · by Perdogg · 16 replies
    The International Franchise Association held a convention in Washington this week where most of the Radio Shack, Dunkin Donuts, Curves and other franchisers were grumbling about new federal regulations, especially the impact of Obamacare. Most, said Atlanta Taco Bell and Kentucky Fried Chicken franchiser David Barr, presumed that the reports about how hard Obamacare will hit them were overblown. "They had their head in the sand," he told Secrets
  • Tropical Storm Isaac boosts jobless claims

    09/13/2012 6:31:13 AM PDT · by John W · 35 replies
    Reuters ^ | September 13, 2012 | Reuters
    (Reuters) - The number of Americans filing new claims for jobless benefits rose more than expected last week, with several states reporting an increase related to Tropical Storm Isaac. Initial claims for state unemployment benefits rose 15,000 to a seasonally adjusted 382,000, the highest in two months, the Labor Department said on Thursday. The prior week's figure was revised up to show 2,000 more applications than previously reported. Economists polled by Reuters had forecast claims rising to 370,000 last week. A Labor Department official said Tropical Storm Isaac, which drenched parts of the country, accounted for about 9,000 of the...
  • Fiddling At The Fire (Roubini: Global Economy Could Soon Crash Into A Brick Wall)

    09/13/2012 11:07:03 AM PDT · by blam · 1 replies
    Project Syndicate ^ | 9-13-2012 | Nouriel Roubini
    Fiddling At The FireSeptember 13, 2012Nouriel Roubini Paris– Financial markets have rallied since July on the hope that the global economic and geopolitical outlook will not worsen, or, if it does, that central banks stand ready to backstop economies and markets with additional rounds of liquidity provision and quantitative easing. So, not only has good – or better-than-expected – economic news boosted the markets, but even bad news has been good news, because it increases the probability that central-banking firefighters like US Federal Reserve Chairman Ben Bernanke and European Central Bank President Mario Draghi will douse the markets with buckets...
  • Heritage recovered with father's stolen guns (OR)

    09/13/2012 10:58:43 AM PDT · by marktwain · 5 replies
    kgw.com ^ | 12 September, 2012 | Staff
    PORTLAND – A Portland man was afraid he’d lost an irreplaceable family heirloom, until he found out Wednesday police had tracked down his father's stolen gun collection. Police told Vietnam veteran Randal Snider that they were able to arrest the suspect and recover the guns, thanks to a tip they received. ----------------------cut------------------------- The two men knew each other because McGrew's father had done some handyman work for Snider.
  • Tom Keene To Achuthan: 'Come Back When There's A Recession'

    09/13/2012 6:40:10 AM PDT · by blam · 4 replies
    TBI ^ | 9-13-2012 | Sam Ro
    Tom Keene To Achuthan: 'Come Back When There's A Recession' Sam RoSep. 13, 2012, 6:22 AMLakshman Achuthan of The Economic Cycle Research Institute (ECRI) made waves a year ago when he said the U.S. economy would slip back into recession. Even as major economic metrics have been trending favorably, Achuthan has been sticking to his call. Achuthan is currently speaking with Bloomberg's Tom Keene. He reminded Keene that earlier this year he had said "we probably wouldn't know if we'd enter a recession until the end of the year." Having said that, Achuthan reiterated his call. "We do believe we...
  • Consumer credit falls unexpectedly in July

    09/10/2012 5:09:56 PM PDT · by newzjunkey · 25 replies
    Reuters ^ | Mon Sep 10, 2012 6:37pm EDT | Reporting by Jason Lange; Editing by Andrea Ricci and Leslie Gevirtz
    Consumer credit fell in July for the first time in nearly a year as Americans reduced credit card debt, a worrisome sign for an economy that has struggled to create jobs. Consumer credit shrank by $3.28 billion in July, the Federal Reserve said on Monday. That was well below the $9.1 billion advance Wall Street economists had forecast in a Reuters poll. ... "(The data) looks consistent with the lackluster gains in consumer spending reported elsewhere," JPMorgan economist David Silver said in a note to clients. ... Consumer credit flows -- a relatively new data series that the Fed says...
  • Bailouts And The Wonderland U.S. Economy

    09/10/2012 11:45:52 AM PDT · by blam · 1 replies
    TMO ^ | 9-10-2012 | William Anderson
    Bailouts And The Wonderland U.S. Economy Politics / Credit Crisis BailoutsSep 10, 2012 - 11:40 AM By: William Anderson I guess it is good that the Democratic National Convention is over if for no other reason than Paul Krugman can get some sleep, given his heart was pounding with joy and admiration over the brilliance of the speakers. No doubt, all this fall he will coordinate his columns and blog posts with talking points from the Obama campaign and the DNC, and I am sure that some real howlers are in store for us lucky readers. His latest column of...
  • Why The Fed Will Not Launch QE3

    09/09/2012 2:42:29 PM PDT · by blam · 13 replies
    TMO ^ | 9-9-2012 | Tony Pallotta
    Why The Fed Will Not Launch QE3 Interest-Rates / Quantitative EasingSep 09, 2012 - 10:46 AM By: Tony Pallotta Whether the Fed decides to launch QE3 this week is far more a complex decision than they lead us to believe. It is not as simple as monitoring economic data and deciding whether to expand the balance sheet or not. Yet the Fed rarely discusses what that other criteria is in making such an important decision. The recent Jackson Hole speech by Chairman Bernanke did offer some insight to the other factors, as well as his recent Congressional testimony. And there...
  • U.S. Housing Market Is The Most Awesome Opportunity In American History

    09/09/2012 2:17:46 PM PDT · by blam · 48 replies
    TMO ^ | 9-9-2012 | Daily Wealth
    U.S. Housing Market Is The Most Awesome Opportunity In American History Housing-Market / US HousingSep 09, 2012 - 11:14 AM By: DailyWealth Dr. Steve Sjuggerud writes: The situation we're facing today can be boiled down to a few very simple points... And the result is an awesome investment opportunity. It is possibly the greatest investing opportunity in American history... I'm talking about the housing market. Real estate investor Jason Hartman interviewed me this week on his radio show (available soon at www.JasonHartman.com). And I made my case. My points were simple: 1. Housing prices have fallen more than they ever...
  • Why Men Will Never Fully Recover From The Great Recession

    09/09/2012 6:17:29 AM PDT · by blam · 93 replies
    TBI ^ | 9-9-2012 | Ashley Lutz
    Why Men Will Never Fully Recover From The Great Recession Ashley LutzSep. 8, 2012, 9:46 PM The recession affected men's careers the most, and the workplace will never be the same. But men will never fully recover because the bad economy simply expedited something that had been happening for years, according to Hanna Rosin's new book The End of Men: And the Rise of Women. Rosin explains in her book: In the Great Recession, three-quarters of the 7.5 million jobs were lost by men. The worst-hit industries were overwhelmingly male and deeply identified with macho: contruction, manufacturing, high finance. Some...
  • Why unemployment rate fell: Fewer people seek jobs

    09/07/2012 11:09:32 AM PDT · by detective · 9 replies
    Yahoo News ^ | September 9, 2012 | CHRISTOPHER S RUGABER
    WASHINGTON (AP) — U.S. employers added 96,000 jobs in August, a tepid figure that points to the economy's persistent weakness and slowing prospects for the unemployed. The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that was only because more people gave up looking for jobs. People out of work are counted as unemployed only if they're looking for a job. The sluggish job growth could slow the momentum President Barack Obama hoped to gain from his speech Thursday night to the Democratic National Convention.
  • Employment Situation Summary: 8.1%

    09/07/2012 5:33:38 AM PDT · by xzins · 113 replies
    Bureau of Labor Statistics ^ | 7 Sep 12 | Bureau of Labor Statistics
    THE EMPLOYMENT SITUATION -- AUGUST 2012 Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care. Household Survey Data The unemployment rate edged down in August to 8.1 percent. Since the beginning of this year, the rate has held in a narrow range of 8.1 to 8.3 percent. The number of unemployed persons, at 12.5 million, was little changed in August. (See table A-1.) Among the major...
  • Jobs: Reagan versus Obama: A Straightforward Comparison

    08/25/2012 7:19:46 AM PDT · by SeekAndFind · 6 replies
    American Thinker ^ | 08/25/2012 | Otto Sorenson
    Stephanie Cutter, President Obama's deputy campaign manager, recently boasted to Willie Geist of MSNBC that, from an employment perspective, the recovery of the economy under President Obama compares favorably with the Reagan recovery. Her claim seemed adequately outlandish to warrant comparing the two recoveries based on two criteria of central importance to the American people: "the net number of new jobs created and the change in the number of people of working age who are either unemployed or not in the workforce (and therefore not counted as unemployed)." In each case I used unadjusted data from the Bureau of Labor...
  • Economy Adds Only 96,000 Workers, Disability Greater Than Decline in Unemployment Since June 2010

    09/07/2012 9:51:32 AM PDT · by whitedog57 · 4 replies
    Confounded Interest ^ | 09/07/2012 | Anthony B. Sanders
    The economy added 96,000 workers last month following a revised 141,000 rise in July that was smaller than initially estimated according to the Labor Department. The median estimate of economists was for a gain of 130,000. Unemployment unexpectedly fell to 8.1 percent. U6 unemployment fell to 14.70%. Are we better off than we were at the beginning of recovery summer 2010? Yes and no. The number of people that are unemployed has fallen by 2 million, but we have added over 2 million people to disability. A closer look at the numbers reveals that the civilian labor force FELL in...
  • Are You Better Off? 40 Statistics That Will Absolutely Shock You

    09/07/2012 6:57:27 AM PDT · by blam · 15 replies
    TEC ^ | 9-7-2012 | Michael Snyder
    Are You Better Off? 40 Statistics That Will Absolutely Shock YouMichael SnyderSeptember 7, 2012 Are you better off today than you were four years ago? This is a question that comes up nearly every election. This year the Romney campaign has even created a Twitter hashtag for it: #AreYouBetterOff. The Democrats are making lots of speeches claiming that we are better off, and the Republicans are making lots of speeches claiming that we are not. So are most Americans actually better off than they were four years ago? Of course not. One recent poll found that only 20 percent of...
  • GOLDMAN: Bad Jobs Report Puts Odds Of QE Next Week Above 50%

    09/07/2012 6:05:37 AM PDT · by blam · 61 replies
    TBI ^ | 9-7-2012 | Joe Weisenthal
    GOLDMAN: Bad Jobs Report Puts Odds Of QE Next Week Above 50% Joe WeisenthalAugust 7, 2012 BOTTOM LINE: With today’s August employment report showing a nonfarm payroll gain of 96,000 and an unemployment rate of 8.1% because of a drop in the participation rate, we expect a return to unsterilized and probably open-ended asset purchases at the September 12-13 FOMC meeting. MAIN POINTS: 1. We now anticipate that the FOMC will announce a return to unsterilized asset purchases (QE3), mainly agency mortgage-backed securities but potentially including Treasury securities, at its September 12-13 FOMC meeting. We previously forecasted QE3 in December...
  • Recovery will require Depression-repairing level of effort, Obama tells national convention

    09/06/2012 6:00:12 PM PDT · by SeekAndFind · 54 replies
    Washington Post ^ | 09/06/2012
    CHARLOTTE, N.C. — His re-election in doubt, President Barack Obama conceded only halting progress Thursday night toward solving the nation’s economic woes, but vowed in a Democratic National Convention finale, “Our problems can be solved, our challenges can be met.” “The path we offer may be harder, but it leads to a better place,” Obama said in advance excerpts of a prime-time speech to delegates and the nation. The president’s speech was the final act of a pair of highly scripted national political conventions in as many weeks, and the opening salvo of a two-month drive toward Election Day that...
  • US hiring outlook improves as jobless claims drop (365k)

    09/06/2012 7:51:45 AM PDT · by Red Badger · 19 replies
    www.seattlepi.com ^ | 09-06-2012 | CHRISTOPHER S. RUGABER, AP
    <p>WASHINGTON (AP) — Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.</p>
  • Rural jobless rate rises to 8.4%

    09/06/2012 10:13:58 AM PDT · by GOPinCa · 3 replies
    Breitbart ^ | September 6, 2012
    The jobless rate for rural counties rose to 8.4 percent in July 2012--lower than the 9.1 percent rate recorded a year ago, but continuing a trend that began in April of this year. Agricultural regions have suffered an unusually dry summer, in addition to economic problems shared in common with urban and suburban regions. The news comes ahead of tomorrow's release of August employment data by the Bureau of Labor Statistics. Analysts are already predicting a slight rise in the unemployment rate, from 8.3 to 8.4 percent--though media outlets are already describing that rise as "steady" rather than an increase.
  • Prepare For The Coming Housing Collapse Part Two

    09/06/2012 9:58:02 AM PDT · by blam · 22 replies
    TBI ^ | 9-6-2012 | Keith Jurow
    Prepare For The Coming Housing Collapse Part Two Keith Jurow, ContributorSeptember 6, 2012 Keith Jurow is a former senior economic writer for the Holt Investment Advisory, who researches and writes about the housing market. . Editor’s Note: BUSINESS INSIDER has been featuring Keith Jurow’s housing market articles regularly for the past two years. He is the author of Minyanville.com’s Housing Market Report. In my last BUSINESS INSIDER article posted in May, I explained why a housing collapse in major metros was coming and why you needed to prepare now. Since then, Wall Street economists, analysts and other pundits have smugly...
  • Weak Productivity Is Another Bane of Recovery

    09/05/2012 2:45:31 PM PDT · by Oldeconomybuyer · 1 replies
    Wall Street Journal ^ | September 5, 2012 | By Kathleen Madigan
    An upward revision in second-quarter productivity can’t mask a disturbing trend in this recovery: Output per hour worked is growing below its potential and creating a drag on profits, incomes, living standards, and tax receipts. On Wednesday the Labor Department said output per hour worked in the nonfarm business sector grew at an annual rate of 2.2% from the 1.6% reported a month ago. But when compared with year-ago levels, second-quarter growth was just 1.2% — the same muddling-along pace of the previous six quarters. That’s a far cry from the 3%-plus rate of the 1990s and early 2000s when...
  • Obama’s Record on the Economy and Housing: Are We Better Off Than 4 Years Ago?

    09/03/2012 11:22:48 AM PDT · by whitedog57 · 9 replies
    Confounded Interest ^ | 09/03/2012 | Anthony B. Sanders
    The Obama Administration has launched 13 loan modification programs since 2009 and participated in the Attorneys General Settlement against the largest banks. Did these programs help? The Department of Housing and Urban Development (HUD) produced a HAMP Scorecard for July 2012. Here is a snapshot of the economy between January 2009 and today. Clearly, we are worse off as nation and that has been to the detriment of the loan modification programs by the Administration and mortgage servicers. House Prices Using the Case-Shiller 20 city house price index, house prices have fallen 4.17% since January 2009. House prices rallied at...
  • Obama’s Jobs Recovery -- In Temporary Help Services

    09/03/2012 10:11:44 AM PDT · by NaturalBornConservative · 5 replies
    Natural Born Conservative ^ | September 3, 2012 | Larry Walker Jr
    Symptoms of Government-Down, Borrow-and-Spend Economics- By: Larry Walker, Jr. -According to Barack Obama, “We tried this trickle-down fairy dust before. And guess what -- it didn’t work then, it won’t work now. It’s not a plan to create jobs.” But only the most gullible members of the Democratic Party would find such words edifying. What really matters to the majority of Americans, a point all but ignored by the Obama-Biden Entourage, is the fact that since the beginning of the Great Recession, a total of 4,778,000 Nonfarm Jobs have been entirely wiped out, and what we have been waiting to...
  • Study questions if Connecticut emerged from recession

    08/31/2012 3:29:35 PM PDT · by matt04 · 13 replies
    New data shows Connecticut's economy was damaged more severely than most economists originally thought in the last recession, according to a provocative new report released Wednesday by the University of Connecticut's economic think-tank. The latest analysis from the Connecticut Center for Economic Analysis warned the state "has an even steeper hill to climb" and could see little or no net job growth over the next 18 months, a grim prospect as Gov. Dannel P. Malloy looks ahead to a re-election campaign in 2014. And the study suggested that the state technically might still be in a recession. The center also...
  • JONATHAN MILLER: Don't Buy The Hype About A Housing Recovery

    08/30/2012 11:53:26 AM PDT · by blam · 3 replies
    TBI ^ | 8-30-2012 | Jill Krasny
    JONATHAN MILLER: Don't Buy The Hype About A Housing Recovery Jill Krasny Aug. 30, 2012, 12:53 PM Much of the housing recovery you've been hearing about is still just hype, says Jonathan Miller of Manhattan-based real estate appraisal company Miller-Samuel. "We keep throwing the 'recovery' word around, but the big numbers are coming from sources being created from the tight market," he told Business Insider. "Tight credit is causing rents to rise; falling mortgage rates are pushing people to buy. "There's this sense that no one really has a sense of where we are in the housing market. Recovery is...
  • No Place Like Home (Housing)

    08/29/2012 9:32:36 AM PDT · by blam · 2 replies
    Advisor Perspectives (Doug Short) ^ | 8-29-2012 | Eric Schaefer
    No Place Like Home Chart of the Week August 29, 2012 By Eric Schaefer of American Independence Financial Services Home. There are few other more evocative and comforting words in the English language, or, in any language for that matter. The mention of home unleashes a flood of emotions and thoughts. Home may be an ideal, but it is also a place. Among our possessions, our house is our home. Few other worldly goods, no matter what socio-economic we count our self amongst, enjoys the same pride of place. As Americans we hold house and home in a special regard....
  • Pending Home Sales Surge Past Expectations, Rising 2.4%

    08/29/2012 7:39:26 AM PDT · by blam · 17 replies
    TBI ^ | 8-29-2012 | Mamta Badkar
    Pending Home Sales Surge Past Expectations, Rising 2.4% Mamta Badkar Aug. 29, 2012, 10:00 AM Pending home sales beat expectations rising 2.4 percent in July. This is the highest level in over two years. On a yearly basis they were up 12.4 percent. Pending home sales in the south saw the biggest rebound rising 5.2 percent in July, and up 15.6 percent from a year ago. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," said Lawrence Yun, NAR's chief economist in a press release. Pending home sales...
  • America's Truckers Have Some Bad News About The US Economy

    08/28/2012 9:13:09 AM PDT · by blam · 16 replies
    TBI ^ | 8-28-2012 | Sam Ro
    America's Truckers Have Some Bad News About The US Economy Sam Ro Aug. 28, 2012, 10:50 AM Almost every good we own has been in a truck at one point or another. As such trucking volumes are a key bellwether of the U.S. economy. Unfortunately, truck volumes are looking "weaker than normal" so far in August. This is according to Christian Wetherbee, Citi's trucking analyst. From his note to clients: Last week we conducted a series of channel checks in the Truckload sector and while July freight was in line with expected seasonality, and up from last year’s relative weakness,...
  • You Call This an Economic Recovery?

    08/25/2012 8:32:19 AM PDT · by IBD editorial writer · 3 replies
    Investor's Business Daily ^ | 08/24/2012 | IBD Staff
    Back in August 2010, Treasury Secretary Timothy Geithner wrote an Op-Ed titled "Welcome to the Recovery." Two years later, most Americans would be right to ask: What recovery? Yes, the economy is technically growing, and corporate profits are up. But the pace of growth during the Obama "recovery" has been so slow that it's leaving most Americans further behind. The latest sign: Real median household income has fallen 4.8% since the so-called recovery officially began in June 2009. That's a steeper decline than occurred during the recession itself.
  • Most laid-off US workers take pay cuts in new jobs

    08/25/2012 12:26:23 AM PDT · by Olog-hai · 9 replies
    Associated Press ^ | Aug 24, 2012 6:09 PM EDT | CHRISTOPHER S. RUGABER
    The U.S. economic recovery hasn't felt much like one even for people who managed to find new jobs after being laid off. Most of them have had to settle for less pay. Only 56 percent of Americans laid off from January 2009 through December 2011 had found jobs by the start of this year, the Labor Department said Friday. More than half of them took jobs with lower pay. One-third took pay cuts of 20 percent or more. … The report provides an illustration of the job market's persistent weakness well after the Great Recession officially ended in June 2009....
  • U.S. Weekly Jobless Claims Unexpectedly Rise To 372,000

    08/23/2012 6:06:15 AM PDT · by xzins · 101 replies
    RTT News ^ | 23 Aug 12 | Rtt Staff Writer
    E-MAIL SHARE FONT-SIZE 8/23/2012 8:37 AM ET (RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday. The report showed that initial jobless claims edged up to 372,000 from the previous week's revised figure of 368,000. The modest increase came as a surprise to economists, who had expected jobless claims to slip to 365,000 from the 366,000 originally reported for the previous week. Additionally, the Labor Department said the less volatile four-week moving average crept up to 368,000 from the...
  • Chart of the Day: Reagan Recovery vs Obama Recovery

    08/22/2012 10:27:50 PM PDT · by ExxonPatrolUs · 8 replies
    American Enterprise Institute ^ | 8-23-2012 | James Pethokoukis
    Check out the BLS.gov data the Obama admin published. Reagan achieved a higher Civilian Employment Ratio and a higher Labor Force Participation Rate then Obama. The charts show that Obama achieved less than Zero!
  • Tax Fraud is Linked to Public Benefits

    08/22/2012 5:09:55 AM PDT · by TurboZamboni · 15 replies
    tampa bay times ^ | 8-19-12 | patty ryan
    Tampa police estimate that 80 to 90 percent of the tax refund fraud they encounter is committed by people on public assistance. "The people who are benefiting most from our taxes are the ones doing it," said police spokeswoman Andrea Davis.
  • Republicans Hope, But Don't Change (Peter Schiff)

    08/19/2012 8:57:45 AM PDT · by blam · 14 replies
    TMO ^ | 8-19-2012 | Peter Schiff
    Republicans Hope, But Don't Change Politics / US Politics Aug 18, 2012 - 10:55 AM By: Peter Schiff For much of the past few generations, the debate over balancing the federal budget has been a central feature of every presidential campaign. But over time, the goal posts have moved. As the amount of red ink has grown steadily larger, the suggested time frames to restore balance have gotten increasingly longer, while the suggested cuts in government spending have gotten increasingly shallower. In recent years, talk of balancing the budget gave way to vague promises such as "cutting the deficit in...
  • Goldman Sachs: The Economy Is Stronger Than You Think

    08/18/2012 1:17:38 PM PDT · by blam · 18 replies
    Pragmatic Capitalism ^ | 8-17-2012 | Cullen Roche
    Goldman Sachs: The Economy Is Stronger Than You Think 08/17/2012 3:33 AM Cullen Roche Recent strategy notes from Goldman Sachs are consistent with my overall view of the US economy – it’s stronger than the recessionistas have long thought. So the good news is things aren’t yet contracting. The bad news is the economy is still too weak to substantially bring down the rate of unemployment. And the good/bad news is that this reduces the likelihood of QE this year. More from Goldman’s Jan Hatzius (via ZH): “The US economic recovery remains sluggish, but we believe that it will pick...
  • Gallup:August Unemployment Not Looking Good

    08/18/2012 6:55:54 AM PDT · by lbryce · 18 replies
    Gallup.com ^ | August 17, 2012 | Staff
    New Gallup unemployment data suggest an increase in the government's seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7. During recent months, Gallup's measurements have been more optimistic than those of the BLS. Barring a sharp reversal in this relationship, the government's unadjusted unemployment rate might be expected to stay the same or increase in August. Gallup's Daily tracking of the unemployment situation is based on interviews with more than 30,000 adults over the 30 days ending Aug. 15, and shows essentially no change in the unadjusted unemployment rate at 8.3% compared to 8.2% in...
  • Unemployment rates rise in U.S. election swing states (Oh Yes, It's Obama's Fault!)

    08/18/2012 6:03:07 AM PDT · by tobyhill · 7 replies
    reuters ^ | 8/18/2012 | Lisa Lambert
    Unemployment rates rose in July from June in almost all states, including those where the presidential election fight is expected to be fiercest, according to data released on Friday by the Labor Department. Altogether, jobless rates rose in 44 states. Rates dropped in Idaho, Rhode Island and the District of Columbia, and were unchanged in four states. As the country moves closer to November's election day, voters' attention is squarely focused on the economy and a national jobless rate hovering above 8 percent. Because of the unique U.S. political system in which states cast electoral votes for president, the contest...
  • 'Sharpie Parties' Fuel Rampage on Foreclosed US Homes

    08/17/2012 7:08:31 AM PDT · by Abiotic · 50 replies
    CNBC ^ | 16 Aug 2012 | Reuters
    In the age of Facebook and Twitter, a new crime has hit America: "Sharpie parties," gatherings of revelers armed with "Sharpie" magic markers and lured by social media invitations to wreak havoc on foreclosed homes. Five years into the U.S. foreclosure crisis, Sharpie parties are a new form of blight on the landscape of boarded-up homes, brown lawns and abandoned streets. They are also the latest iteration of collective home-trashing spurred by social media. At least six Sharpie parties were reported in one California county in recent months, where invitations posted online drew scores to foreclosed homes. The partygoers are...
  • Old Obama acquaintance voices South Side’s disillusionment with his former ally

    08/16/2012 8:53:48 PM PDT · by Second Amendment First · 65 replies
    Washington Post ^ | August 16, 2012 | Michael Leahy
    CHICAGO — He still walks the same streets here as his old acquaintance Barack Obama once did. That is about all they have in common anymore. At 50, Chicago activist Mark Allen lives with his parents, barely able to pay his bills. The head of a small, community-assistance organization called Black Wall Street Chicago, Allen regards his personal survival alone as a small victory, grateful he can pay the rent on his modest office space, aware he is doing better than many on this city’s restive South Side. “Things haven’t gone the way we’d hoped after Barack got elected,” he...
  • Weekly Jobless Claims Tick Up 2K

    08/16/2012 6:17:42 AM PDT · by mykroar · 36 replies
    FoxBusiness.co ^ | 08/16/2012 | Reuters
    The number of Americans filing new claims for jobless benefits edged higher last week although a trend reading fell close to a four-year low, pointing to ongoing healing in the labor market. Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 366,000, the Labor Department said on Thursday. That was in line with economists' forecasts in a Reuters poll.
  • Nevada's housing problems: Do you want solutions or sound bites?

    08/15/2012 1:49:15 PM PDT · by NevadaPolicyResearchInstitute · 1 replies
    Write on Nevada ^ | August 15, 2012 | Victor Joecks
    Government created the housing bubble and has failed to fix the inevitable housing crash that followed — even after four years of trying. So what do believers in liberty and free enterprise propose? Freedom. Enforce contracts. Let the market work by allowing foreclosures. Is it going to be painful for some? Absolutely. But that pain — created by government inflating the housing bubble — is inevitable. Prolonging it is only hurting more and more people by delaying the recovery. And that's the true tragedy in this. By rewarding foreclosure, current government policy is ensuring that Nevada will have more foreclosure...
  • Roy Roberts Reveals Emergency Plan To Overhaul Detroit Public Schools

    08/14/2012 7:27:31 AM PDT · by bt_dooftlook · 11 replies
    CBS Detroit (WWJ) ^ | 04/05/2012 | Pat Sweeting
    A new plan to overhaul the way Detroit Public Schools operates is part of an effort to improve academics, stem years of plummeting enrollment and bring in more money to educate students, the district’s emergency financial manager said Thursday. Details of the “2012-2013 Action Plans: Increasing Quality Seats for Detroit School Children” were released by Roy Roberts a day after he discussed the ideas for turning around the state’s largest school district to business and community leaders. “Over the course of the next year, we must lay a foundation for Detroit Public Schools that will enable sustained progress for years...
  • God's Addiction Recovery Plan: The Biblical Path to Freedom

    08/10/2012 3:48:44 PM PDT · by evangmlw · 60 replies
    Crossbooks Publishing, A Division of Lifeway ^ | April 28, 2012 | Michael Wrenn
    Former addict has authored and published a book on how God delivered him from ten years of addiction. The book includes his personal testimony and explains ten progressive steps toward experiencing a clean and successful life.
  • The US Economy, Why The Bears Are Wrong...Again

    08/09/2012 3:42:12 PM PDT · by blam · 14 replies
    TMO ^ | 8-9-2012 | Yiannis G Mostrous
    Why U.S. Econcomy the Bears Are Wrong…Again Economics / US Economy Aug 09, 2012 - 02:17 PM By: Yiannis G Mostrous Since the beginning of the year, being bearish and trashing the global economy has been the favorite pastime for the majority of market observers. Recurring negative themes have been the sluggish US economy, the supposedly imminent demise of the euro and the slowdown in growth of China’s gross domestic product (GDP). Let’s debunk today’s “Chicken Little” attitudes, one by one. The US economy is steadily (if not spectacularly) growing; the market certainly is more optimistic than the pundits. The...
  • Sliding Toward A Recession

    08/07/2012 3:21:55 PM PDT · by blam · 13 replies
    The Daily Reckoning ^ | 8-7-2012 | Bill Bonner
    Sliding Toward A Recession By Bill BonnerAugust 7, 2012 Paris, France – “Déjà vu” is a French expression that means…well, you know what it means. For our purposes, we will use it to refer to the slumpy economy…and to the feds’ response. We’ve see it all before. “Dans la merde” (Up the creek without a paddle) (In deep do-do) is another French expression…which refers to where you end up when the feds’ undertake to fix it. But the Dow shot up 217 points last Friday. Gold went up $18. How to explain it? With Europe on the brink of a...
  • We Have A Phony Recovery That Has Sown The Seeds Of Its Own Destruction

    08/06/2012 7:40:23 PM PDT · by blam · 10 replies
    TBI ^ | 8-6-2012 | Peter Schiff
    We Have A Phony Recovery That Has Sown The Seeds Of Its Own Destruction Peter Schiff, Euro Pacific Capital Aug. 6, 2012, 9:41 PM The past week provided clear lessons not just in how central bankers have a limited ability to positively influence the economy but also how they are limited in their capacity to deliver the shortsighted policy actions that investors currently crave. The developments should provide new reasons for investors and economy watchers to abandon their faith in central bankers as super heroes capable of saving the economy. The employment report released on Friday confirmed that the U.S....
  • Bernanke: despite recovery, many struggling

    08/06/2012 12:48:45 PM PDT · by John W · 24 replies
    Reuters via Yahoo News ^ | August 6, 2012 | Reuters
    WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday that although broad measurements of the economy point to recovery, many people and businesses are facing tough times. "Even though some key aggregate metrics -- including consumer spending, disposable income, household net worth, and debt service payments -- have moved in the direction of recovery, it is clear that many individuals and households continue to struggle with difficult economic and financial conditions," he said in prepared text. Bernanke was speaking to a research conference on the topic of economic measurement. He did not discuss the outlook for monetary policy...
  • Debt, Depression, DeMarco (Krugman hurl alert)

    08/06/2012 9:27:04 AM PDT · by TurboZamboni · 15 replies
    NYTimes ^ | 8-2-12 | PAUL KRUGMAN
    There has been plenty to criticize about President Obama’s handling of the economy. Yet the overriding story of the past few years is not Mr. Obama’s mistakes but the scorched-earth opposition of Republicans, who have done everything they can to get in his way — and who now, having blocked the president’s policies, hope to win the White House by claiming that his policies have failed. Many economists believe that the overhang of excess household debt, a legacy of the bubble years, is the biggest factor holding back economic recovery. Loosely speaking, excess debt has created a situation in which...
  • Continued Update On Senator Kirk's Recovery

    08/06/2012 11:33:43 AM PDT · by bigbob · 9 replies
    Youtube ^ | 8-3-12 | Sen. Mark Kirk
    United States Senator Mark Kirk (R-Ill.) reveals the progress that he has made in his recovery after suffering an ischemic stroke in January. Sen. Kirk recently completed a 9-week mobility study at the Rehabilitation Institute of Chicago, where he worked tirelessly to improve his walking, speech, and mobility. During the course of the study, Sen. Kirk walked a total of 14.79 miles and climbed 145 flights of stairs.