If you look back to the Great Depression of the 1930’s, reported unemployment levels were 20.6% on the low end and 24.9% on the high end, according to different economists at the time.
For the 3rd month in a row, S&P Case-Shiller home prices fell MoM with July’s 0.5% drop the biggest since November 2011. This dragged the YoY growth to 6.
Consumer confidence fell sharply in September after hitting a seven-year high the previous month. A closely watched index of consumer confidence tumbled to 86 from 93.4 in August after rising four straight months, the Conference Board said Tuesday.
Today marks the end of the federal government’s fiscal year. It’s also the biggest one-day shopping spree of the year– the day when federal agencies rush to spend the last of their money before October 1, before anything left over is returned to the Treasury. Since agencies cannot carry over unspent funds, the idea is “use it or lose it.
I know that headline sounds completely outrageous. But it is actually true. The U.
Nearly nine out of 10 freshmen think they’ll earn their bachelor’s degrees within the traditional four years, according to a nationwide survey conducted by the Higher Education Research Institute at UCLA. But the U.S.
For years, many people have suspected that the New York Fed is more or less controlled by the “too big to fail” banks. Well, now we have smoking gun evidence that this is indeed the case. A very brave lawyer named Carmen Segarra made a series of audio recordings while she was working for the New York Fed.
When is the U.S. banking system going to crash?
Mortgage originations for the first quarter of this year fell off a cliff. JPMorgan reported a decline of 71 percent, as I recall, and I think Citibank reported a drop of 66 percent. Now, the second quarter’s bloodletting has come in and the numbers are about the same… down more than 60 percent year-over-year, if memory serves and it often does.
As the so-called “recovery” continues, the facts just inconveniently get in the way, if you dare to look beyond the lamestream media. In a mere 6 years, since the recession began, wages have dropped substantially. “Jobs gained during the economic recovery from the Great Recession pay an average 23% less than the jobs lost during the recession,” according to a new report released by The U.
Leveraged loans to private equity are not just flashing red but have a wailing siren and a man walking in front waving a flag. The loans are even bothering the see-no-evil officials at the Federal Reserve, who have been trying to persuade banks that excessively leveraged loans are risky. More than a third of leveraged loans this year have lent more than six times earnings before interest, tax, depreciation and amortization, only slightly below the proportion at the peak of the 2007 credit bubble, according to S&P Capital IQ.
Facebook bought revenueless Instagram for $1 billion in 2012. Snapchat, the revenueless sexting app, is now valued at $10 billion. There are so many examples like this.
The U.S. economy has had six full years to bounce back since the financial collapse of 2008, and it simply has not happened.
Real estate prices are predicted to fall between 15%-40% or more in the next 1 to 3 years Mortgage applications have been falling steadily for over a year Typical Pool with Hot Tub in Florida Home During Housing Peak Homebuilders may be optimistic on the housing front, but the rest of us shouldn’t be. It seems they always get ahead of themselves with optimism, and then end up holding the bag, like when the last crash happened. In the few years leading up to 2007, I remember the plethora of new developments going up all around where I live in south Florida, with brightly-colored sales flags and dozens of beautifully decorated model homes in endless developments.
For everybody wondering why the economic recovery feels like a recession, here’s the answer: We’re still at least five years away from regaining everything lost during the 2007-2009 downturn. Forecasting firm IHS Global Insight predicts that real median household income — perhaps the best proxy for middle-class living standards — won’t reach the prior peak from 2007 until 2019.
Even after the Dow and the S&P 500 closed at new all-time highs, closely followed contrarian Marc Faber keeps sounding the alarm. “We have a bubble in everything, everywhere,” the publisher of The Gloom, Boom & Doom Report told CNBC’s “Squawk Box” on Friday. Faber has long argued that the Federal Reserve’s massive asset purchasing programs and near-zero interest rates have inflated stock prices.
At the Americans United rally “Hands Off Social Security & Medicare” at the Capitol on Thursday, House Minority Leader Nancy Pelosi (D-Calif.) blamed Republicans for the economic recession of 2007-09, saying their “lack of regulation and supervision took our country to the brink, and so when President Obama won the election, he took us out of that brink.” “I know you’ve heard from many members of the House and Senate about the importance of the three pillars of security for America’s seniors:
The next time you visit a hospital, it is your wallet that may end up hurting the most. All over the United States, it has become common practice for hospitals to wildly inflate medical bills. For example, it has been reported that some hospitals are charging up to 30 dollars for a single aspirin pill.
Before his three-hour neck surgery for herniated disks in December, Peter Drier, 37, signed a pile of consent forms. A bank technology manager who had researched his insurance coverage, Mr. Drier was prepared when the bills started arriving:
Did you know that the number of gold bars being purchased by ultra-wealthy individuals has increased by 243 percent so far this year? If stocks are just going to keep soaring, why are they doing this? On Thursday, the Dow Jones industrial average and the S&P 500 both closed at record highs once again.