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Archive for the 'Credit Crisis' Category

Economist Admits That Obama’s Stimulus Didn’t Work

by Doug Mataconis @ Wednesday, June 9th, 2010. Filed under Barack Obama, Credit Crisis, Economics, Politicos & Pundits, Politics

Jeffrey Sachs, a Keynesian economist, now admits that the stimulus didn’t work:

Visit msnbc.com for breaking news, world news, and news about the economy
H/T: Jason Pye

Peter Schiff: Are We The Next Japan, Or The Next Greece ?

by Doug Mataconis @ Tuesday, May 25th, 2010. Filed under Credit Crisis, Economics, Peter Schiff, Politicos & Pundits, Politics

The guy who saw the Great Recession coming two years early isn’t too optimistic about the future:

231,000 Private Sector Jobs Added In April

by Doug Mataconis @ Friday, May 7th, 2010. Filed under Business, Credit Crisis, Economics

Signs of an economic turnaround ?
The American economy added an unexpected strong 290,000 jobs in April, while the unemployment rate rose to 9.9 percent, the government said Friday.
Analysts had expected a gain of about 190,000 in the month.
With revisions on Friday, April was the fourth consecutive month that the economy added workers (a revised 230,000 [...]

Peter Schiff: Economy Is In Worse Shape Than In 2008 And Greece Is The Canary In The Coalmine

by Doug Mataconis @ Wednesday, April 28th, 2010. Filed under Credit Crisis, Economics, Peter Schiff, Politicos & Pundits, Politics

The U.S. stock market plunged today on fears about the still-unfolding debt crisis in Greece and, after the close, it was reported that economists in Europe fear that the crisis in Greece could spread to other countries.
And, Peter Schiff, one of the only economists to see the 2008 crash before it happened, said that the [...]

Economists Say That Stimulus Bill Had No Impact On Economic Recovery

by Doug Mataconis @ Monday, April 26th, 2010. Filed under 2010 Elections, Barack Obama, Credit Crisis, Economics, Elections, Politicos & Pundits, Politics

A new economic study shows that most economists agree that the stimulus bill passed last year had no real impact on the economy and cannot be said to have led to what looks for the time being like an economic recovery:
NEW YORK (CNNMoney.com) — The recovery is picking up steam as employers boost payrolls, but [...]

Ron Paul Asks Ben Bernanke: Where Will The Money Come From ?

by Doug Mataconis @ Saturday, April 17th, 2010. Filed under Credit Crisis, Economics, Politicos & Pundits, Politics, Ron Paul

Another classic exchange between the Texas Congressman and the Chairman of the Federal Reserve Board:

So Is The Great Recession Over Or Not ?

by Doug Mataconis @ Monday, April 12th, 2010. Filed under Business, Credit Crisis, Economics

The group charged with declaring when recessions begin and end isn’t ready to say yet:
WASHINGTON (AP) — A panel of academics that date the beginnings and ends of recessions isn’t ready to declare just yet when this downturn ended.
The National Bureau of Economic Research said Monday that although most barometers show improvements in the economy, [...]

47% Of American Households Will Pay Zero Income Tax For 2009

by Doug Mataconis @ Thursday, April 8th, 2010. Filed under Credit Crisis, Economics, Personal Finance

Thanks partly to a declining economy, and in a large degree to a tax structure that has gotten out of whack, almost half of Americans households will pay no income taxes in 2009:
WASHINGTON — Tax Day is a dreaded deadline for millions of Americans, but for nearly half of U.S. households, it’s simply somebody else’s [...]

The Coming Crisis In Commerical Real Estate

by Doug Mataconis @ Wednesday, March 31st, 2010. Filed under Business, Credit Crisis, Economics, Real Estate

For almost a year now, there’s been talk that we would see a Commercial Real Estate crisis that could be as bad as, or worse than, the mortgage crisis that threw the economy into a deep recession in 2008.
Well, it looks like it’s coming:
By the end of 2010, about half of all commercial real estate [...]

Obama Administration Set To Unveil The Next Unconstitutional Bailout

by Doug Mataconis @ Thursday, March 25th, 2010. Filed under Barack Obama, Credit Crisis, Economics, Politicos & Pundits, Politics, Real Estate

This time, it’s a mortgage bailout:
The Obama administration plans to overhaul how it’s tackling the foreclosure crisis, in part by requiring lenders to temporarily slash or eliminate monthly mortgage payments for many borrowers who are unemployed, senior officials said Thursday.
Banks and other lenders would have to reduce the payments to no more than 31 percent [...]

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