which consists of creating ” JOBS JOBS JOBS ” as fast as he can ! BUT will they materialize fast enough in this falling economy to make a real difference anytime soon ? one would have to guess not when your talking building inter structure that in many cases are measured not in months but [...]
Approximately $56.4 Trillion in Federal Obligations
Prior to Recent Bailouts, Market Declines, Compared to $56.5 Trillion in Household Net Worth
NEW YORK (Dec. 15, 2008) - The sum of America’s liabilities and other financial commitments now exceeds the collective net worth of its citizens, the Peter G. Peterson Foundation has calculated using the latest official data. Growth [...]
Obama’s plan is trickle-up economics. Create a huge government infrastructure spending bill (similar to the WPA during the depression) in hopes that it will stimulate job growth however, the blue state jobs that will be created will go to half, if not more, of the 30 million illegal alien population which in turn will send [...]
LONDON (AFP) — Britain edged ever closer to a recession on Tuesday and the IMF’s top economist warned of a second Great Depression, as stock markets awaited fresh US growth data in the hope of some Christmas cheer.
Britain’s economy shrank by 0.6 percent in the three months to September compared with the previous quarter, against [...]
WASHINGTON (Reuters) - The U.S. housing market took a sharp turn for the worse while Spain joined a growing list of countries in a recession that shows no sign of abating.
Existing U.S. home sales and prices both fell at a record pace last month, according to a report released on Tuesday, further evidence that the [...]
With GM and Chrysler less than 19 days away from bankruptcy, and with the U.S. Senate rejecting automakers’ pleas for an emergency bailout, Treasury Secretary Paulson has just pledged he will not let them fail.
Here’s why no amount of money Paulson or anyone else throws at Detroit can save GM or Chrysler now.
Why massive deflationary [...]
A stimulus program should stimulate the elements of the economy that have the greatest leverage and should do so in ways that increase Consumer Confidence. This makes the stimulus a jump start mechanisms that will produce sustained results.
1. About $30 billion to individuals as discounts on purchases of qualifying (adquate gas mileage) autos manufactured by [...]
The Govt. cannot possibly bail everyone out. Even if they could where is the revenue going to come from? Who is buying cars? Who is buying houses? Job losses are mounting, not going down. Anyone who is expecting some capitulation event and then a massive rally that covers all the losses is dreaming.
As bad as [...]
Suddenly, our consumer society is doing a lot less consuming and slaming the door on the ” Buying Binge ” we’ve been on in the last few years! The numbers are pretty incredible. Sales of new vehicles have dropped 32 percent in the third quarter. Consumer spending appears likely to fall next year for the [...]
From RGE Monitor:
One can count at least 20 separate or complementary causes that will sharply reduce consumption in the next several years:
· The US consumer is shopped-out having spent for the last few years well above its means.
· The US consumer is saving-less as the already low household savings rate at the [...]
“The biggest thing the U.S. economy has going against it right now is a lack of consumer confidence. You can see the writing on the wall, if the American consumer continues to have a pullback in the fourth quarter during the holiday season, everything gets hit,” said Timothy Speiss, head of Eisner LLP’s wealth management [...]
“FED PROVIDING FINANCIAL SYSTEM UNLIMITED LIQUIDITY”
Why can’t Fed provide unlimited liquidity for some big programs of investment in infrastructur. Things will get much easier and better in this way. Why Fed still keep funding banks, banks are just nothing but empty suit. Don’t make banks to do the jobs for you, Fed, do it yourself. [...]
Nouriel Roubini | Nov 4, 2008
For the last few years the global economy has been running on two engines, the U.S. on the consumption side and China on the production side, both lifting the entire global economy. The U.S. has been the consumer of first and last resort spending more than its income and [...]
It’s hard to feel to sorry for a company that used to be a great place to shop. Until they fired all of their knowledgable, higher-paid sales staff to hire idiots. When retailers understaff with poorly trained and underpaid workers that give poor customer service it leaves us, the consumer, to base our purchasing decisions [...]
“Consumer confidence had already declined by mid-2008 by more than prior to any past recession and the steep October loss indicates that accelerated cutbacks in spending can be expected during the months ahead,” according to Richard Curtin, director of the consumer survey.
“Consumers rated the current administration’s economic policies more unfavorably than ever before in the [...]
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