Archive for the 'Collapse' Category
U.S. Cities May Have to be Bulldozed in “Shrink to Survive” Strategy
June 13th, 2009Change. Via: Telegraph: Dozens of US cities may have entire neighbourhoods bulldozed as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline. The government looking at expanding a pioneering scheme in Flint, one of the poorest US cities, which involves razing entire districts and returning the land […]
U.S. Government Will Own 34 Percent of Citigroup
June 11th, 2009Via: New York Times: Many of its rivals are getting ready to throw back the government’s lifeline, but not Citigroup: To the contrary, Citi on Wednesday said it was moving forward with a plan to convert a large chunk of its preferred shares into common equity. The long-awaited move is expected to give the United […]
Obama Promises More than 600,000 Stimulus Jobs; “Including Hundreds of Maintenance Projects at Military Bases”
June 8th, 2009They’re going to give Summer Camp a whole new meaning. Via: AP: President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs. Obama is ramping up his stimulus program this week even […]
Animated Map: Net Job Gains / Losses by Metropolitan Statistical Area
June 7th, 2009Via: Tip Strategies: This animated map provides a striking visual of employment trends over the last business cycle using net change in jobs from the U.S. Bureau of Labor Statistics on a rolling 12-month basis.
On the Street and On Facebook: The Homeless Stay Wired
June 1st, 2009You’ve got your fast crash. You’ve got your slow crash. But then you’ve got your Snowcrash. Via: Wall Street Journal: Like most San Franciscans, Charles Pitts is wired. Mr. Pitts, who is 37 years old, has accounts on Facebook, MySpace and Twitter. He runs an Internet forum on Yahoo, reads news online and keeps in […]
GM to Seek Bankruptcy
June 1st, 2009UPDATE: GM Files for Bankruptcy Protection Via: Washington Post: General Motors filed for bankruptcy protection this morning, marking the end of financial independence for the 100-year-old industrial leviathan that once conflated its interests with the country’s and — counting jobs at the company and its suppliers — employed well over 1 million people. —End Update— […]
Economic Crisis Spurs Spike in ‘Suburban Survivalists’
May 28th, 2009I thought that they were going to bring in the shrink to say how these “suburban survivalists” should be paying him $100 per hour instead of Rawles, but look what he said: Art Markman, a cognitive psychologist, said he’s not surprised by the reaction of some to the nation’s financial woes, even though it may […]
GM Said to Plan for June 1 Bankruptcy, Sale of Assets
May 28th, 2009Via: Bloomberg: General Motors Corp., the world’s largest automaker until its 77-year reign ended in 2008, plans to file for bankruptcy protection on June 1 and sell most of its assets to a new company, people familiar with the matter said. The U.S. Treasury will provide financing for GM while the asset sale is arranged […]
1 IN 8 U.S. HOMEOWNERS LATE PAYING OR IN FORECLOSURE
May 28th, 2009Via: Reuters: One of eight U.S. households with a mortgage ended the first quarter late on loan payments or in the foreclosure process in a crisis that will persist for at least another year until unemployment peaks, the Mortgage Bankers Association said on Thursday. U.S. unemployment in April reached its highest rate in more than […]
Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look
May 28th, 2009Via: Washington Post: With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax. Common around the world, including in Europe, such a tax — called a value-added tax, or VAT — […]
