Blog Archives

Bloomberg Business: Most States Are Currently in an Economic Crisis

financial crisis

Six years after the recession ended, many U.S. states are hard pressed to balance budgets because of a sluggish recovery and their own policy decisions. The fiscal fragility raises questions about how they will weather the next economic downturn. A

Posted in Economics, State Government

World Bank Chief Says Global Economy is Titanic 'Without Lifeboats'

titanic

HSBC chief economist Stephen King is already thinking about the next recession. In a note to clients Wednesday, he warns: “The world economy is like an ocean liner without lifeboats. If another recession hits, it could be a truly titanic

Posted in Economics, World News

Obamanomics: Major Retail Chains Close 6,000 Stores

office depot

The long feared “retail apocalypse” may be hitting with little or no fanfare if a growing list of store-closing plans by major chains is any indication. Major U.S. retailers have announced the closing of more than 6,000 stores from coast

Posted in Business, Economics

Average Age Of A Minimum Wage Worker In America Is 36

janitor

Did you know that 89 percent of all minimum wage workers in the United States are not teens? At this point, the average age of a minimum wage worker in this country is 36, and 56 percent of them are

Posted in Economics, Email Featured, unemployment

Las Vegas Mogul Says Economic Recovery is 'Pure Fiction. A Lie'

wynn

One of America’s most astute businessmen, known for having expanded the Las Vegas strip of resort hotels and casinos in the 1990s, says the U.S. remains mired in an economic funk and any talk of a broad recovery is “pure

Posted in Business, Economics

Recovery?: U.S. Economic Confidence Index Down Sharply Last Week

gallup chart

Gallup’s U.S. Economic Confidence Index was -9 for the week ending May 3 — its lowest weekly score since December. This reflects a six-point decline from the previous week, and is the largest week-to-week drop since last July. After falling

Posted in Economics

No, Harry Reid, Crushing Poverty Does Not Cause Violence

harry reid angry1

Harry Reid thinks crushing poverty explains the violence of the riots—though he is quick to say he does not condone the violence. Before I explain how wrong he is, let me first thank Harry Reid for bringing up justice reform

Posted in Culture, Economics, Law, National Security, Politics, Racism, unemployment

Ron Paul Warns of Catastrophic 'Financial Crisis' That May Come Soon

ron paul warns

I think Ron Paul is absolutely right to warn CNBC of our next financial crisis. But I’m not sure the dollar is the bubble. Despite rising stock prices and a falling unemployment rate, the United States is on the brink

Posted in Economics, History, World News

Remember How Net Neutrality Wasn’t Going to Raise Prices? Yeah, Never Mind

net neutrality

During the net neutrality debate we saw a lot of criticism heaped on people like Senator Mike Lee and Ajit Pai, a Republican member of the FCC, when they warned that adopting these policies would raise prices for consumers. Politifact

Posted in Economics, Ethics, Government, Media, Technology

Obama Blames Poor Economy on ‘Insufficient Global Warming’

george will

Conservative icon George Will hit the Obama administration with not one, but two, haymakers during his time on Fox News Sunday discussing our languid economy. The first hit came when Will reminded viewers that this was now the second year

Posted in Economics, Environment

Economic Slump Overtakes Job Market; Record-High 93 Million Not Participating

unemployment line1

Following news the Federal Reserve Bank of Atlanta’s forecast of GDP growth dropped to zero April 1, the Bureau of Labor Statistics reported the number of Americans 16 years and older who did not participate in the labor force rose

Posted in Economics, unemployment

Report: College Debt Bubble Is Collapsing Now; 33% Of All Student Loans Are Delinquent

college debt

With all of that job creation being claimed by the Obama administration and disseminated by mainstream media outlets as signs of a sustained recovery you’d think most college graduates would have no trouble keeping up with their bills. But new

Posted in Economics, Education

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