Keyword: thecomingdepression

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  • Going DOWn................

    05/19/2010 7:24:35 AM PDT · by Red Badger · 48 replies · 1,828+ views
    moneycentral.msn.com ^ | 5-19-2010 | Staff
    Hang on, it's gonna be a bumpy ride!..............
  • The Subprime Rhyme with U.S. Debt Debacle (Conditions in place for US Bond Market Collapse)

    05/06/2010 7:19:26 AM PDT · by SeekAndFind · 15 replies · 552+ views
    Real Clear Markets ^ | 05/05/2010 | Michael Pento
    The similarities between the subprime mortgage crisis and that of the coming collapse of the U.S. bond market are uncanny. In fact, Mark Twain may have had the U.S. debt market and the previous debt-fueled real estate crisis in mind when he said that "History does not repeat itself--but it does rhyme." The housing and credit crisis first became evident to most in 2007 with the distress in the subprime mortgage market. The foundation for the housing bubble was low interest rates, which were provided by the Fed, and passed along to consumers via commercial banks and the shadow banking...
  • Sell-off in US Treasuries raises sovereign debt fears

    03/30/2010 10:07:28 AM PDT · by 444Flyer · 38 replies · 1,433+ views
    Telegraph.co.uk ^ | 3-28-10 | Ambrose Evans-Pritchard
    The yield on 10-year Treasuries – the benchmark price of global capital – surged 30 basis points in just two days last week to over 3.9pc, the highest level since the Lehman crisis. Alan Greenspan, ex-head of the US Federal Reserve, said the abrupt move may be "the canary in the coal mine", a warning to Washington that it can no longer borrow with impunity. He said there is a "huge overhang of federal debt, which we have never seen before". David Rosenberg at Gluskin Sheff said Treasury yields have ratcheted up 90 basis points since December in a "destabilising...
  • It Begins: Cash Strapped Cities Begin To Crumble

    02/04/2010 9:45:28 AM PST · by blam · 103 replies · 4,257+ views
    The Business Insider ^ | 2-4-2010 | John Carney
    It Begins: Cash Strapped Cities Begin To Crumble John Carney Feb. 4, 2010, 10:25 AM Our nascent economic recovery may come too late to save many American cities from bankruptcy, which in turn will deal heavy losses to municipal bond investors and the companies that insure munis. The latest fright comes from Harrisburg, the capital of Pennsylvania. The city is considering seeking bankruptcy protection—as well as tax hikes and asset sales—to address $68 million in debt service payments due this year. Harrisburg does not stand a chance at making its payments. The $68 million in debt service payments is four...
  • Families Struggle to Afford Food, Survey Finds

    01/27/2010 1:45:25 PM PST · by Cheap_Hessian · 52 replies · 1,090+ views
    The New York Times ^ | January 26, 2010 | Jason DeParle
    WASHINGTON — Nearly one in five Americans said they lacked the money to buy the food they needed at some point in the last year, according to a survey co-sponsored by the Gallup organization and released Tuesday by an anti-hunger group. The numbers soared at the start of the recession, but dipped in 2009 despite the continuing rise in unemployment. The anti-hunger group, the Food Research and Action Center, attributed that trend to falling food prices, an increasing use of food stamps and a rise in the amount of the food stamps benefit. More than 38 million Americans — one...
  • Global Investors Turn Platinum Over Gold

    01/25/2010 9:24:12 PM PST · by Jet Jaguar · 22 replies · 679+ views
    businessinsider ^ | Jan. 25, 2010 | Vince Veneziani
    Gold continues to be a wildly popular global obsession, but the winds may be changing a little. Why? Platinum is undervalued, out of the public eye (compared to gold), and production is set to expand as auto manufacturers begin producing more vehicles. Investors are even beginning to go long platinum while simultaneously shorting gold: Bloomberg: Even after a record 57 percent rally last year, platinum is cheap relative to gold, signaling more gains as demand grows from carmakers and exchange-traded funds. “We are long platinum and short gold,” said Jonathan Barratt, the Sydney-based managing director with Commodity Broking Services Pty,...
  • Dow in 5.2% Three-Day Slide

    01/22/2010 1:26:32 PM PST · by Sub-Driver · 24 replies · 877+ views
    Dow in 5.2% Three-Day Slide By PETER A. MCKAY And DONNA KARDOS YESALAVICH Stocks suffered a third straight day of steep losses Friday, led by technology shares, which suffered from analyst downgrades and sky-high earnings expectations. The selling picked up in the afternoon as fears swirled regarding the possibility that Ben Bernanke might not get confirmed to a second term as Fed chairman. The Dow Jones Industrial Average slid 216.90, or 2.1%, to 10172.98, off 5.2% over its three-day slide. For the week, the Dow was off 4.1%.
  • Worst Debt Crisis Since The Great Depression To Claim 200 More U.S. Banks During 2010

    01/18/2010 12:27:55 PM PST · by blam · 20 replies · 619+ views
    The Market Oracle ^ | 1-18-2010 | Martin D Weiss
    Worst Debt Crisis Since The Great Depression To Claim 200 More U.S. Banks During 2010 Economics / Credit Crisis 2010 Jan 18, 2010 - 03:56 AM By: Martin D Weiss Washington has so thoroughly botched its supervision of the banking industry that 200 banks are likely to fail this year — easily surpassing last year’s 140 bank failures … inevitably involving the greatest bank losses in history … and already costing the FDIC ten times more than the great S&L and banking crisis of the 1980s did. I am not basing these conclusions on conjecture. They come straight from official...
  • The Recession Is Over, The Economic Depression Is Just Beginning

    01/12/2010 11:49:15 AM PST · by blam · 11 replies · 1,292+ views
    The Market Oracle ^ | 1-12-2010 | Stephen Lendman
    The Recession Is Over, The Economic Depression Just Beginning Economics / Great Depression II Jan 12, 2010 - 07:30 AM By: Stephen Lendman In late 2009, former Merrill Lynch economist, now with the Canadian firm, Gluskin Sheff, said the following: "The credit collapse and the accompanying deflation and overcapacity are going to drive the economy and financial markets in 2010. We have said this repeatedly that this recession is really a depression because the (post-WW II) recessions were merely small backward steps in an inventory cycle but in the context of expanding credit. Whereas now, we are in a prolonged...
  • Get Ready For 11% Unemployment In January

    01/11/2010 8:55:23 PM PST · by TigerLikesRooster · 46 replies · 1,756+ views
    Business Insider ^ | 01/11/10 | David Kotok
    Get Ready For 11% Unemployment In January David Kotok | Jan. 11, 2010, 3:11 PM To be blunt: in our view the jobs data were plainly miserable and disappointing. Like many of our readers, I listened to the debate on CNBC and read numerous analyses. We will set aside the perennial optimists who find positive outcomes in any data set. Simply put: a 10% unemployment rate and a 17.3% underemployment rate are two extremely serious numbers. They help explain the market’s immediate reaction, which was a Treasury bond price rally and a drop in the 2-year note yield to an...
  • Bankruptcy could be good for America

    01/11/2010 8:18:54 PM PST · by HogsBreath · 9 replies · 671+ views
    FT.com ^ | January 11 2010 | Gideon Rachman
    The US has formidable strengths that will allow its government to be profligate for far longer than other nations could get away with. But if the US keeps running huge deficits, sooner or later the country will start flirting with bankruptcy.
  • America slides deeper into depression as Wall Street revels

    01/10/2010 2:17:34 PM PST · by ScaniaBoy · 32 replies · 1,809+ views
    The Daily Telegraph ^ | 10 January 2010 | Ambrose Evans-Pritchard
    The labour force contracted by 661,000. This did not show up in the headline jobless rate because so many Americans dropped out of the system. The broad U6 category of unemployment rose to 17.3pc. That is the one that matters. Wall Street rallied. Bulls hope that weak jobs data will postpone monetary tightening: a silver lining in every catastrophe, or perhaps a further exhibit of market infantilism. The home foreclosure guillotine usually drops a year or so after people lose their job, and exhaust their savings. The local sheriff will escort them out of the door, often with some sympathy...
  • A Recession of Fear

    01/08/2010 3:47:13 PM PST · by Damnaged · 8 replies · 485+ views
    The Daily Reckoning ^ | January 08, 2010 | Bill Bonner
    A Recession of Fear By Bill Bonner 01/08/10 Baltimore, Maryland – Uh oh… The wind chill is 50 below in North Dakota. And the storm is headed our way. What happened to global warming? This report from colleague Chris Hunter in Ireland, where we have our Family Office: “Ireland is under snow – lots of it. The media have dubbed it the ‘Big Chill.’ It hasn’t been colder since 1962. I stupidly tried to drive to a nearby village yesterday evening in said snow and got my car stuck in a ditch. “I’m now holed up in a friend’s house...
  • The Gates Of Financial And Economic Hell Have Opened

    01/06/2010 7:38:37 AM PST · by blam · 5 replies · 824+ views
    The Market Oracle ^ | 1-6-2010 | Bob Clark
    The Gates Of Financial And Economic Hell Have Opened Stock-Markets / Credit Crisis 2010 Jan 06, 2010 - 02:20 AM By: Bob Clark The abyss is widening, many have already fallen in. The Fat Boys at Goldman say they are doing God's work, do they really believe that. Maybe they know dark secrets we are not privy to. What does God's work entail? Stopping fear and panic? Holding up asset prices and presenting the illusion of a stable, recovering economy? If they fail, then hell will follow. PHONY FUNDINGOn the surface it appears that the Feds are creating a recovery...
  • Tempting the tipping point : Can the U.S. escape a fiscal debt death spiral?

    12/23/2009 7:53:40 AM PST · by SeekAndFind · 16 replies · 953+ views
    Washington Times ^ | 12/23/2009 | Richard Rahn
    If governments continue to pile on more and more debt, when will they reach the tipping point? The Greeks appear to be close to the tipping point, and it is only a matter of time before other European countries, and eventually even the United States, begin their fiscal death spiral. The Greek government's unwillingness to make the hard choices necessary to put its fiscal house in order in the past few weeks has caused investors to demand a 2.5 percent premium on its government-issued Eurobonds over those issued by the German government. First, a little background. Eurozone governments have a...
  • Will 2010 Bring a World-Wide Economic Crisis?

    12/23/2009 7:35:55 AM PST · by Shellybenoit · 7 replies · 581+ views
    NY POST/The Lid ^ | 12/23/09 | The Lid
    The United States Economy has become like those sub-prime mortgages that almost brought down the banking system last year. We have borrowed more than we can afford but as long as interest rates stay low, we will be able to make payments. Once rates go up, the federal government will have to "default on its homes." Even the NY Times is predicting economic problems for America: ... With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this...
  • China: The World Does Not Have Money to Buy More US Treasuries (Drudge Headline)

    12/19/2009 12:24:10 PM PST · by GVnana · 100 replies · 4,963+ views
    Shanghai Daily ^ | 12/18/2009
    Harder to buy US Treasuries Created: 2009-12-18 0:13:35 Author:Zhou Xin and Jason Subler IT is getting harder for governments to buy United States Treasuries because the US's shrinking current-account gap is reducing supply of dollars overseas, a Chinese central bank official said yesterday. The comments by Zhu Min, deputy governor of the People's Bank of China, referred to the overall situation globally, not specifically to China, the biggest foreign holder of US government bonds. Chinese officials generally are very careful about commenting on the dollar and Treasuries, given that so much of its US$2.3 trillion reserves are tied to their...
  • ADP Job Loss Report Is Worse Than Expected

    12/02/2009 6:41:10 AM PST · by blam · 24 replies · 923+ views
    The Business Insider ^ | 12-2-2009 | Joe Weisenthal
    ADP Job Loss Report Is Worse Than Expected Joe WeisenthalDec. 2, 2009, 8:17 AM We've still got previous few green shoots on the jobs front. The private ADP jobs report indicated a loss of 169,000 private sector jobs in November, which was worse than the 150,000 that analysts had estimated. Also not good: October was revised to a worse 195,000. ------ According to today's ADP National Employment Report®, private sector employment decreased by 169,000 in November. The ADP National Employment Report, created by Automatic Data Processing, Inc. (ADP®), in partnership with Macroeconomic Advisers, LLC, is derived from actual payroll data...
  • The bankruptcy of the United States is now certain

    11/25/2009 10:35:48 AM PST · by FromLori · 72 replies · 3,150+ views
    The Daily Crux ^ | 11/24/09 | Porter Stansberry
    It's one of those numbers that's so unbelievable you have to actually think about it for a while... Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that's not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That's an amount equal to nearly 30% of our entire GDP. And we're the world's biggest economy. Where will the money come from? How did we end...
  • Rosenberg: This Isn't A Recession, It's A Depression

    11/30/2009 8:58:50 AM PST · by FromLori · 52 replies · 1,498+ views
    The Business Insider ^ | 11/30/09 | Joe Weisenthal
    And if this is a recovery, it's the worst recovery of all time. David Rosenberg -- who has been getting into fights with other pundits left and right -- digs in and argues that what we're really looking at is a depression. MORE ON THE DEPRESSION Last week, we received some classic guffaws when we responded to whether or not the recession has ended with this: “We’re not convinced, but even if it is statistically over, the depression is ongoing”. We were reprimanded by former Fed Governor Mishkin for breeding “fear”. The eyes were rolling among the Squawk Box crew...
  • Ordinary fears/extraordinary times: 55 (real) things to worry about (if you must…)

    11/30/2009 8:03:14 AM PST · by syc1959 · 4 replies · 479+ views
    Energy Bulletin ^ | Nov 28,2009 | Kathy McMahon
    Peak Oil, Climate change and the Greater Depression will pose many challenges to our way of life but let’s get real, for a moment: Golden Hordes aren’t one of them. At least not now. Economic depression brings with it a host of serious problems, and I think you can say quite confidently, without being a chicken little, that most of the world is in a Greater Depression. But still, we’ve got a few years to go before we can say that the USA is no longer a viable culture, when no one wants to live in Paris or London, when...
  • GOLD $1,182

    11/25/2009 8:40:56 AM PST · by FromLori · 88 replies · 1,867+ views
    The Business Insider ^ | 11/25/09 | Vince Veneziani
    Gold is on a tear this morning, just breaking $1,182. The dollar is losing serious ground against the Euro during early AM trading. Check out the Euro/Dollar spike in the second chart below.
  • SocGen Analyst: Our Governments Are Insolvent, Gold To $6,300!

    11/19/2009 2:19:00 PM PST · by FromLori · 3 replies · 498+ views
    The Business Insider ^ | 11/19/09 | Joe Weisenthal
    The gems don't stop coming from SocGen, which has been advising clients how to play the end of the world, while predicting fresh lows in the market in 2010. And (duh) they love gold. Rolfe Winkler: Is gold going to $6,300? Dylan Grice, an analyst with Societe Generale, says it’s possible, given the decline in central bank credibility. But investors need to keep one thing in mind: Gold is merely a vehicle to protect the purchasing power of money. Gold is surging because investors see that the Federal Reserve — more concerned with deflation and unemployment than sound money —...
  • AOL may lay off a third of employees

    11/19/2009 7:18:15 AM PST · by Willie Green · 21 replies · 577+ views
    MarketWatch ^ | Nov. 19, 2009 | David B. Wilkerson
    CHICAGO (MarketWatch) -- AOL may lay off a third of its staff as part of a restructuring related to the company's upcoming spin-off from Time Warner Inc., the unit told regulators Thursday. In a filing with the Securities and Exchange Commission, AOL said it had informed employees of the layoffs, which are conditioned upon its successful spin-off from Time Warner (TWX 31.86, -0.96, -2.93%) . The transaction is slated for Dec. 9. AOL told employees it has announced a voluntary layoff program that starts Dec. 4 and goes through Dec. 11. The company is offering buyouts to as many as...
  • The Great Credit Crunch Is Deepening

    11/19/2009 6:49:42 AM PST · by blam · 4 replies · 558+ views
    Minyanville ^ | 11-19-2009
    The Great Credit Crunch Is Deepening Minyanville Staff Nov 19, 2009 9:20 am Consumers will feel the effects in the form of tighter credit standards. Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than 5,000 stocks every day. Within the proposed banking reform bill, the House Financial Services Committee wants banks and funds to make payments in advance for companies deemed “too-big-to-fail”. This fund will be capped at $200 billion, insuring that taxpayers won't wind up paying for a bailout...
  • Housing outlook: Slower sales, falling prices, more foreclosures

    11/18/2009 9:51:09 AM PST · by FromLori · 8 replies · 549+ views
    Daily Finance ^ | 11/18/09
    The housing market dropped off a cliff in October, as the original Nov. 30th expiration date for the first-time home buyers tax credit approached, according to the Housing Market Monitor of the Center for Economic and Policy Research. Add to that the 6.25% 60-day delinquency rate in the third quarter -- 58% above the level of one year ago -- and you've got a recipe for housing disaster: more foreclosures, slower sales and ultimately a greater decline in house prices. "With unemployment virtually certain to remain high well into next year, there is little prospect for any sizable drop in...
  • Housing starts fall back to lowest level in six months (-10.6%0

    11/18/2009 7:25:29 AM PST · by TigerLikesRooster · 15 replies · 695+ views
    Market Watch ^ | 11/18/09 | Greg Robb
    Housing starts fall back to lowest level in six months October data show starts down 10.6% and building permits off 4% By Greg Robb, MarketWatch WASHINGTON (MarketWatch) -- In a blow to the optimism that had surrounded the U.S. housing sector in recent months, housing starts fell a sharp 10.6% in October, the Commerce Department reported Wednesday. New construction on housing units dropped to a seasonally adjusted annual rate of 529,000, the lowest level since April. The 10.6% drop was the biggest percentage decline for starts since January. Both single-family homes and multifamily units declined last month. Prior to the...
  • State social workers worry about threats from poor clients

    11/17/2009 6:12:33 AM PST · by Graybeard58 · 83 replies · 2,386+ views
    Waterbury Republican-American via A.P. ^ | November 17, 2009 | David Eggert
    LANSING, Mich. — One frustrated client hurled a piece of concrete through the window of a welfare agency. Another threw her car keys at a welfare worker before being escorted away. At one point, a woman on public assistance even took a swing at a worker. As Michigan struggles with the highest-in-the-nation jobless rate, state workers who deal with unemployment, welfare and other aid programs say they have never been so overwhelmed — or so worried about their safety. Some clients have begun taking their anger out on the very people who are offering help. And caseworkers are seeking extra...
  • Roubini: The Worst Is Yet To Come!

    11/16/2009 1:10:39 PM PST · by blam · 16 replies · 1,564+ views
    The Business Insider ^ | 11-16-2009 | Joe Weisenthal
    Roubini: The Worst Is Yet To Come! Joe WeisenthalNov. 15, 2009, 6:47 PM Roubini is back! After a summer of mixed messages, he's now firmly back to stark warnings, most recently sounding the alarm about a massive bubble due to the dollar carry trade. And today in the Daily News he has some bad news for the unemployed: the worst is yet to come. Also, remember: The last recession ended in November 2001, but job losses continued for more than a year and half until June of 2003; ditto for the 1990-91 recession. So we can expect that job losses...
  • .S. Economy: Consumer Sentiment Unexpectedly Falls

    11/13/2009 5:18:58 PM PST · by Lorianne · 8 replies · 426+ views
    Source cannot be posted, see link below | 13 November 2009
    Synopsis: US consumers skitish (unexpectedly of course).
  • Hiring Gains Seem Far Off Despite Fall In Jobless Claims

    11/13/2009 8:35:38 AM PST · by IbJensen · 10 replies · 597+ views
    The Bulletin ^ | November 13, 2009 | CHRISTOPHER S. RUGABER
    WASHINGTON — Fewer people are claiming unemployment benefits — but still too many to signal that the economy is close to gaining jobs. First-time claims for jobless benefits dropped last week to a seasonally adjusted 502,000, the Labor Department said Thursday. That's the fewest claims since the week ending Jan. 3, and below economists' estimates. Claims would have to fall to the high 400s to indicate the economy could soon produce even a slight gain in jobs, estimates Abiel Reinhart, an economist at JPMorgan Chase. That level of claims could be reached by January, he said, and the economy should...
  • Economists See Fed Raising Rates Near Midterm Elections

    11/12/2009 11:50:12 AM PST · by Pontiac · 7 replies · 582+ views
    WSJ On-Line ^ | 11/12/09 | PHIL IZZO
    Economists in the latest Wall Street Journal survey, on average, expect the Federal Reserve to raise interest rates around September 2010, a politically sensitive time considering midterm elections will be right around the corner and unemployment is forecast to still be over 9.5%. The 52 surveyed economists—not all of whom answer every question—on average expect the unemployment rate to rise to 10.3% by the end of this year from its current 10.2%, and they expect it to stay above 9.5% through 2010. The respondents expect job growth to return over the next 12 months, but the forecast calls for an...
  • 12 reasons unemployment is going to (at least) 12 percent

    11/11/2009 7:33:05 PM PST · by SeekAndFind · 40 replies · 1,397+ views
    Reuters ^ | 11/11/2009 | James Pethokoukis
    Gluskin Sheff economist David Rosenberg, formerly of Merrill Lynch, thinks the unemployment rate is going to at least 12 percent, maybe even 13 percent. Optimists, Rosenberg explains, underestimate the incredible damage done to the labor market during this downturn. And even before this downturn, the economy was not generating jobs in huge numbers. If he is right, all political bets are off. I think the Democrats could lose the House and effective control of the Senate. I think you would also be talking about the rise of third party and perhaps a challenger to Obama in 2012. So here is...
  • Report: 10 States Face Looming Budget Disasters

    11/11/2009 3:15:25 PM PST · by blam · 57 replies · 1,977+ views
    Yahoo News/AP ^ | 11-11-2009 | Judy Lin
    Report: 10 States Face Looming Budget Disasters By JUDY LIN, Associated Press Wednesday, November 11, 2009SACRAMENTO, Calif. – In Arizona, the budget has grown so gloomy that lawmakers are considering mortgaging Capitol buildings. In Michigan, state officials dealing with the nation's highest unemployment rate are slashing spending on schools and health care. Drastic financial remedies are no longer limited to California, where a historic budget crisis earlier this year grew so bad that state agencies issued IOUs to pay bills. A study released Wednesday warned that at least nine other big states are also barreling toward economic disaster, raising the...
  • 7,500 trucking jobs lost in October

    11/10/2009 8:45:31 AM PST · by NRG1973 · 11 replies · 907+ views
    eTrucker.com ^ | Novemeber 10, 2009 | Avery Vise
    Payroll employment among for-hire trucking companies in October dropped 0.6 percent on a seasonally adjusted basis from September levels – slightly more than the decline the month before. Employment is down 9.3 percent from October 2008, according to preliminary figures released Friday, Nov. 6, by the U.S. Department of Labor’s Bureau of Labor Statistics. With the estimated 7,500 jobs lost in October, the trucking industry has lost more than 91,000 jobs since the end of 2008 – a decline of 6.8 percent. Job cuts since July 2008 – just before the current decline – total 141,400. The BLS numbers reflect...
  • Don’t Let D.C. Politicians Destroy The Dollar And Undermine Your Investments!

    11/10/2009 7:54:23 AM PST · by FromLori · 12 replies · 403+ views
    In the current fiscal year alone, the U.S. Congress and the administration have created a federal deficit of $1.4 trillion — more than TRIPLE the size of America's largest deficit in history. Worse, they now admit that the cumulative deficits through 2019 will be at least $9 trillion, and that they have no plan in place to reduce this monster in our midst. This is the greatest threat to your financial future of all time. As experts like Warren Buffett have noted, the only way Washington politicians know how to solve the debt crisis is by creating inflation. They are...
  • What Happens if America Goes Broke?

    11/10/2009 7:36:35 AM PST · by AJKauf · 55 replies · 1,905+ views
    Pajamas MEdia ^ | November 9 | Frank J. Fleming
    I think we’ve all been broke before. Large men come and break your thumbs and threaten your family, and then you hide out in a dumpster until it all blows over. That’s all well and good for an individual, but what happens if our entire country goes broke? Robert J. Samuelson raised this concern in the Washington Post, and it got me worried, even though I didn’t quite understand it all (which perhaps actually increases the worry). We can’t just hide America in a dumpster (and even if we could, I bet that goody-two-shoes Canada would rat us out); we...
  • How the Government Is Swallowing the Economy

    11/09/2009 7:56:42 PM PST · by Lorianne · 19 replies · 977+ views
    Source cannot be posted | November 9, 2009
    Synopsis: Over 66% will be dependent on government [for salary, pension or entitlement] by 2018. This is not sustainable .... no really.
  • Dollar reached 15-month low in wake of G20 meeting (no support of dollar offered)

    11/09/2009 8:38:27 AM PST · by TigerLikesRooster · 16 replies · 950+ views
    Market Watch ^ | 11/09/09 | Deborah Levine & William L. Watts
    Nov. 9, 2009, 10:52 a.m. EST Dollar reached 15-month low in wake of G20 meeting Euro presses back above $1.50 By Deborah Levine & William L. Watts, MarketWatch NEW YORK (MarketWatch) -- The dollar weakened Monday, pushing an index of the greenback down more than 1% and to the lowest in 15 months, after a weekend meeting of Group of 20 policy makers offered no support for the U.S. unit. Traders also took heed of an International Monetary Fund report issued at the G20 meeting that said the dollar has moved closer to "medium-term equilibrium" but "still remains on the...
  • Why won't Obama give you a job? The WH thinks the stimulus is working...

    11/07/2009 5:58:30 PM PST · by 2ndDivisionVet · 9 replies · 552+ views
    The Washington Post ^ | November 8, 2009 | Alec MacGillis
    To hear President Obama tell it, he's been busy creating jobs since taking office. The $787 billion stimulus package, he said last winter, would "save or create 3.5 million jobs." The White House is touting reports from recipients of stimulus funds asserting that they have created or saved 640,000 jobs so far. Yet the national unemployment rate has now hit 10.2 percent, helping explain why Republicans won the governors' races in Virginia and New Jersey last week, just a year after the party's 2008 drubbing. And Obama declared Friday that more action is needed. "History tells us that job growth...
  • 27 million Americans without full-time work, real unemployment tops 17.5%

    11/07/2009 6:46:34 AM PST · by Jabrown · 12 replies · 565+ views
    Statehouse Examiner | 11/07/2009 | J Brown
    A look at the numbers inside the unemployment report including a report that claims 190,000 job losses while also reporting an increase of more than 550,000 unemployed americans. The numbers are staggering. 27 million Americans without full-time work, real unemployment tops 17.5%
  • Analysis: 10 percent jobless is Obama's new world

    11/06/2009 2:32:48 PM PST · by Kartographer · 12 replies · 607+ views
    AP/GoogleNews ^ | 11/6/09 | JIM KUHNHENN
    For months he had warned it was coming but that didn't ease the political shockwaves for President Barack Obama when unemployment topped 10 percent. A year after his election Obama finds it increasingly difficult to blame the sour economy on George W. Bush or offer reassurances that jobless Americans will soon find work.
  • Jobless claims fall; unemployment rate expected to rise

    11/05/2009 1:51:10 PM PST · by Perdogg · 9 replies · 728+ views
    The number of new jobless claims fell to the lowest level in 10 months last week, figures analysts say point to job cuts easing on the economy's slow road to recovery. The Labor Department reports first-time unemployment claims fell by 20,000 to 512,000 last week, better than the 523,000 economists predicted.
  • Four Reasons Hyperinflation Hasn’t Hit The US... Yet

    11/04/2009 10:35:37 AM PST · by blam · 34 replies · 2,909+ views
    Minyanville ^ | 11-04-2009 | Keith Fitz-Gerald
    Four Reasons Hyperinflation Hasn’t Hit The US... Yet Keith Fitz-Gerald Nov 04, 2009 11:30 am This uncertain limbo isn't good now, or ever. Everything we know about classic economic theory suggests the US economy should be experiencing Zimbabwe-like hyperinflation right now, thanks to the nearly $2.2 trillion the US Federal Reserve has pumped into the system. But we’re not... yet. Classic economic theory says that money supply can be used to stimulate the economy and our central bankers seem to agree. That’s why they’ve pumped more than $1 trillion dollars into the economy, engineered countless bailout bonanzas for zombie institutions,...
  • Barclays: Commercial Mortrage Delinquencies Soar

    11/04/2009 11:14:10 AM PST · by FromLori · 13 replies · 594+ views
    Up 5.5% this month. Delinquencies in commercial mortgage-backed securities (CMBS) accelerated in October, according to a report from Barclays Capital (BarCap). The 30-plus day delinquency rate jumped 41bps to 5.5% in October as current loans deteriorated and transferred to special servicers. Continue reading »
  • Scary Specter Of '30s-Style Economic Depression

    11/04/2009 6:24:54 AM PST · by blam · 14 replies · 839+ views
    The Market Oracle ^ | 11-4-2009 | The_Gold_Report
    Scary Specter Of '30s-Style Economic Depression Commodities / Gold & Silver Stocks Nov 04, 2009 - 02:24 AM By: The_Gold_Report Jay Taylor, who publishes Gold, Energy & Technology Stocks and hosts his "Turning Hard Times into Good Times" radio program each week, is hoping and praying for deflation to help the U.S. heal its wounds and find its way back to prosperity. He has reasons to think the dollar might bounce back, too. Nevertheless, Jay reminds The Gold Report readers about frightening parallels to the 1930s and doesn't dismiss the possibility of a hyperinflation that renders the U.S. dollar about...
  • Eric Sprott: "Dead Government Walking"

    11/03/2009 3:43:48 PM PST · by blam · 13 replies · 1,018+ views
    The Business Insider ^ | 11-03-2009 | Joe Weisenthal
    Eric Sprott: "Dead Government Walking" Joe WeisenthalNov. 3, 2009, 12:48 PM If you're looking for something to cheer you up, don't read the latest letter from ultra-bear Eric Sprott (via Market Folly). Basically he argues, a US default is coming sooner, rather than later, and that there's just no hope of averting this. The projected US deficit from 2009 to 2019 is now slated to be almost $9 trillion dollars.3 How on earth does anyone expect them to raise this capital? As we stated in a previous article, in order to satisfy US capital requirements, all existing investors would have...
  • Property Values Set to Fall 43% From Current Depressed Levels

    11/03/2009 6:58:08 AM PST · by blam · 107 replies · 3,908+ views
    Seeking Alpha ^ | 11-02-2009 | Michael David White
    Property Values Set to Fall 43% From Current Depressed Levels Michael David White November 02, 2009 Price Trends / WAR OF THE WORLDS: If you use a 20-year time horizon, and assume prices will return to the trend line, then our residential property bubble will bottom after values fall over 40% from current levels (see above (c) aka “(y) - (z)” aka “Loss Today to Bottom”). I make no predictions. I do watch numbers. The chart shows a catastrophe of falling real estate values loaded up on top of our current catastrophe in real estate values. No one would question...
  • Major Companies Hoarding Cash, Preparing for Second Wave of Financial Crisis

    11/03/2009 6:32:03 AM PST · by blam · 20 replies · 1,466+ views
    The Daily Reckoning ^ | 11-02-2009 | Rocky Vega
    Major Companies Hoarding Cash, Preparing for Second Wave of Financial Crisis By Rocky Vega 11/02/09 Stockholm, Sweden – If you’re looking for insight into how you should be responding to the “recovery” in the US economy, there’s actually a glimmer of sanity coming leading US companies. Right now major American companies are storing up more cash than at any other time within the past 40 years. According to media reports, Citigroup and JPMorgan Chase among others are saving “as if another financial crisis were on the way.” Even the vice president of equity research at Rochdale Securities Dick Bove said,...
  • Stock Market Mysteries

    11/03/2009 12:14:01 PM PST · by Kartographer · 31 replies · 1,036+ views
    Newsweek.com ^ | 11/3/09 | Daniel Gross
    Here's a puzzle: The stock markets are doing very well, yet the performance of the underlying economy doesn't seem to justify optimism. The buoyant S&P 500 has risen 53 percent since the March bottom. And while the economy expanded at a 3.5 percent rate in the third quarter, unemployment is high, incomes are stagnant, and consumers are shaky.