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 [...]
(Ed. Note: the subject of the Sun article, Mr. Jacobs, has taken strong exception to my writing; please read the comments section and add any thoughts of your own. I think this is an important issue and an important debate about just what we shall do with the less fortunate in our society) (Ed. Note [...]
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 Zero Hedge: Albert Edwards, whose opinion, of all macro economists, is among the most respected by Zero Hedge staff, has just thrown down the gauntlet: “Equity investors are in for a rude shock. The global economy is sliding back into recession and they are still not even aware that these events will trigger another [...]