“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it’s been in the works for decades, and it’s finally [...]
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WASHINGTON (AP) — US employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008. It was the fifth straight monthly job gain above 200,000 — the best such stretch since the late 1990s tech boom. Over the past 12 months, [...]
“U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday.” The world’s largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is “going [...]
“The government is preparing a banquet for 300,000 people, but inviting 3 million to partake,” said pensions expert Alberto Bonadona. “It will collapse.” Jacob Funk Kierkegaard, an economist at the Peterson Institute in Washington, says he knows of no other country lowering its retirement age at a time when higher life expectancy is burdening national [...]
“Senator Bernie Sanders asked the question, “Has the Federal Reserve of the United States become the central bank of the world?” on discovering that the Fed, after receiving billions of “free money” from the American people, used none of it to help those people, instead loaning it and trillions more to other banks and corporations, [...]
“You could always count on your increase,” said Danielle Swain of Manassas, an analyst for the foreign export service of the Agriculture Department who is nervous about the cut to her commuter-rail subsidy. “If you don’t get a bonus, this is all you get. They’re picking on the government because they assume we sit around [...]
“The small amount of job gains during the past few months not only reflects the response to slow output growth, but also a lack of confidence going forward,” said Bart van Ark, chief economist at the Conference Board, a business research group based in New York. “The economy as a whole has been weakened by [...]
“The dollar fell after more Americans than expected filed applications for unemployment benefits last week, signaling concern the recovery in the world’s biggest economy is slowing.” — SfGate The US is in denial. They are struggling with a faltering economy and looking for solutions while ignoring the source of the problem and that problem is [...]
“The world risks a crisis legacy of a “lost generation” of young people who dropped out of the job market, the organization added in its report. “The effects of the economic and financial crisis threaten to exacerbate the pre-existing decent work deficits among youth,” Somavia said.” — International Labor Organization Global youth unemployment has hit [...]
“Those folks are coming here seeking opportunities. Those folks are coming here seeking the American dream.” Pierre told us. here are an estimated 460,000 ILLEGAL immigrants in Arizona. These illegal immigrants do not pay taxes on the wages they earn, yet US law allows them medical care and their children to attend school at the [...]
“Unemployment benefits are creating jobs faster than practically any other program, House Speaker Nancy Pelosi said Thursday.” Talking to reporters, the House speaker was defending a jobless benefits extension against those who say it gives recipients little incentive to work. By her reasoning, those checks are helping give somebody a job. “It injects demand into [...]
“What we need are consistent job gains, not just a month or two,” said Richard DeKaser, chief economist at Woodley Park Research in Washington, whose confidence forecast was the lowest of those surveyed. “Until we get that, I don’t think we’re going to see any gains in consumer confidence.” — BusinessWeek Confidence among U.S. consumers [...]
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