From the AP: Americans’ economic struggles persisted in July, largely unchanged from the previous month, according to The Associated Press’ monthly analysis of conditions around the country. Nationally, unemployment, foreclosure and bankruptcy rates didn’t budge from June… Golly gee, I’m glad we’ve got an MSM to let us know about this stuff. And there I [...]
Scary stuff – from CNBC: Even if the US and European economies manage to avoid a double dip, it will still feel like a recession, while more than half of the 800-plus US banks on the “critical list” are likely to go bust, according to renowned economist Nouriel Roubini of Roubini Global Economics. The second [...]
From Gallup: Americans’ self-reported spending in stores, restaurants, gas stations, and online averaged $61 per day during the week ending Aug. 29. So far, August and back-to-school 2010 spending trends appear no better than those of August 2009. Gallup’s consumer spending measure averaged $68 per day in July and $67 in June — up $6 [...]
From Reuters: Tokyo stocks fell 3 percent on Tuesday, their worst daily drop in three months, after the Bank of Japan’s emergency moves the day before failed to curb the yen’s strength and disheartened investors bailed out… The way things have been going in stocks, we can now expect some sort of an announcement by [...]
It was just a matter of time – from The Atlantic: The Wall Street Journal had a piece the other day on corporations that choose to walk away from their mortgages. It’s full of self-serving quotes about why corporations that have plenty of cash just have to stiff the folks who were foolish enough to [...]