If we’re headed towards economic recovery, the path is unlikely to be a smooth one. At least that’s what June’s unemployment numbers indicate as the nation lost 467,000 jobs, more than 100,000 above estimates. With unemployment now at 9.5%, a 26 year high, most economists foresee double-digit unemployment before the end of the year with [...]
So, the ever-sophisticated minds at the Fox network have decided the recession could make for quality entertainment. The network plans to air a reality series where employees at struggling small businesses will decide who among them will be laid off (as distinct from the boss making the decision). Fox is attempting to position the show, [...]
At the center of President Obama’s overhaul strategy for Wall Street are the “stress tests” which will be applied to all financial institutions. But how accurate will the test results be? That will depend on whether the treasury takes off-balance-sheet assets into account, experts say. This is Danielle Ivory, reporting from the American News Project [...]
So, what caused the current financial crisis? No, not the specific events but rather the underlying cause, the cultural fault. David Brooks believes there are two competing schools of thought. It’s the greed theory vs. the stupidity theory. Brooks begins with the greed theory: [T]he U.S. financial crisis is a bigger version of the crises [...]
Tweet
On February 1st, I noted in this post that, based on the data in hand and reliable projections, the recession seemed to be on track to become the worst downturn since the back-to-back recessions of 1980-82, but that it was a huge exaggeration — and unecessarily alarmist — to say that it’s the worst since the [...]
The vote was 61-37, and the procedural vote yesterday made this margin all but certain. But this doesn’t mean it’s all sewn up. There’s still some debate to be had. Politico digs into the specifics… —Both House and Senate bills provide close to $87 billion in increased federal aid to help states meet their healthcare [...]
Pay no attention to the content (massive pork) in the bill. Pay no attention to the fact that it will not solve the root problem and will at best delay a day of reckoning. Pay no attention that it will add a trillion dollars of debt that we do not have and will have to borrow from the Chinese or tax from Americans or devalue the currency to repay. Just pass it, because an economic fear-mongering President says it should be passed.
President Obama at Democratic retreat: “No more Mr. Nice Guy” As increasingly partisan battle lines were drawn today over the stimulus program and President Obama  called further delays in passing the huge package “inexcusable,” Harry Reid scrambled to line up a solid Democratic phalanx and woo a few Republicans. As I write this, it seems that Reid has struck [...]
Tweet
All we ask is you keep your language clean and your arguments sharp.
Welcome.
You are currently browsing the archives for the recession category.
