Archive for the 'Economy' Category
Spain: More Bad Economic News
September 28th, 2009Via: Telegraph: Spain is sliding into a full-blown economic depression with unemployment approaching levels not seen since the Second Republic of the 1930s and little chance of recovery until well into the next decade, according to a clutch of reports over recent days. The Madrid research group RR de Acuña & Asociados said the collapse […]
U.S. Job Seekers Exceed Openings by Record Ratio
September 27th, 2009Via: New York Times: Despite signs that the economy has resumed growing, unemployed Americans now confront a job market that is bleaker than ever in the current recession, and employment prospects are still getting worse. Job seekers now outnumber openings six to one, the worst ratio since the government began tracking open positions in 2000. […]
Unemployment Rate for Young Americans at Post-World War II High
September 27th, 2009Update: The New York Post Likely Has Made a Mistake About the Percentage of Unemployed Young People Until Richard Wilner, the author of the New York Post piece below, can come up with a source of his information, I think we have to conclude that his 52.2% number is nonsense, at least from an official […]
G20 Post Mortem / Open Thread
September 27th, 2009A few people seem surprised that the U.S. is a police state. Oh the cops. Oh the poor students. Oh boo hoo, we just want to wave our signs. The don’t taze me bro generation is obviously going to have to figure this one out the hard way. My position has always been that people […]
Federal Reserve General Counsel Scott Alvarez Threatens the U.S. with Economic Terrorism
September 26th, 2009Some people may not like my headline. I don’t care. Make up your own headline, if you like. Call it whatever you want. Barney Frank doesn’t want to rock the boat. Oh no. Appearances need to be maintained on the Ship of Fools. Well, the only thing that’s certain is that the Ship of Fools […]
Change: Buy Obamacare or Face Jail or a $25,000 Fine
September 26th, 2009Via: Politico: Sen. John Ensign (R-Nev.) received a handwritten note Thursday from Joint Committee on Taxation Chief of Staff Tom Barthold confirming the penalty for failing to pay the up to $1,900 fee for not buying health insurance. Violators could be charged with a misdemeanor and could face up to a year in jail or […]
‘Two Bodies’ on Mafia Waste Ship
September 25th, 2009Via: BBC: Investigators in Italy examining a shipwreck containing possible radioactive waste say they may have found two bodies on board. An underwater camera also showed pictures of orange barrels, with the word “toxic” on their side. The boat lies in 500m of water off the south-western coast of Italy. Officials say they believe the […]
U.S. Large-Loan Bank Losses Triple to $53 Billion
September 25th, 2009Via: AP: U.S. regulators said total losses from large loans at banks and other financial institutions nearly tripled to $53 billion in 2009, due to a deteriorating economic environment and continued weak underwriting standards. According to an annual report released by the four federal bank-regulatory agencies on Thursday, credit quality deteriorated to record levels this […]
Home Values Have Fallen by Two-Thirds From the 2005 Peak When Priced in Gold
September 25th, 2009Via: Of Two Minds: At the peak in 2005, the median home price equaled 490 ounces of gold. The present median price is worth about 160 ounces of gold, or roughly the same valuation as 1988.
G20 Members Will Subject Economic Policies to “Peer Review”
September 25th, 2009Via: Wall Street Journal: The Group of 20 nations is close to an agreement that would require members to subject their economic policies to a type of “peer review,” according to several senior G-20 officials, in a shift that would expose the U.S. and China to broad scrutiny of the way they run their economies. […]
