The Public Assistance Cycle
Even before the financial crisis struck, many people were living from paycheck to paycheck, hurt by stagnant incomes, the rising cost of essential goods and services, and widespread risk-shifting by employers. Now that the "recovery" is well underway, a post...
Not Buying It
Corporate profits are surging... The "recovery" has been underway for more than a year... "Recession Ended in June 2009: NBER" (Reuters) WASHINGTON – The recession ended in June 2009, making it the longest downturn since the Great Depression of the...
Economic Non Sequitur of the Day
non se·qui·tur (n n s k w -t r, -t r ) n. 1. An inference or conclusion that does not follow from the premises or evidence. 2. A statement that does not follow logically from what preceded it. ~~~~~...
Getting Back to Nature
Given the way that Wall Street likes to spin things, I suppose they'll interpret the news that more and more people are getting back to nature as a bullish sign. Unfortunately, many are doing it, as the Associated Press reveals,...
Still Funny
OK, maybe I've got a twisted sense of humor, but this oldie-but-goodie (note that it includes the ex-Secretary of the Treasury) is (still) pretty funny -- probably because not much has changed as far as policymaking goes since the crisis...
‘We Just Added and Added and Added to the Debt’
In the latest edition of The Wall Street Journal's "The Big Interview," David Stockman, Ronald Reagan's first Budget Director, doesn't pull any punches when he discusses the damage that has been -- and is still being -- done to our...
One of a Kind
It's hard not to be cynical these days, especially when it comes to the machinations of our so-called leadership in Washington. However, if our nation's capital was populated with a few more thoughtful, conscientious, intelligent, and straight-shooting individuals like the...
The Pain Trade
Ahhh, I think I figured it out. The bulls keep getting whacked with the economic equivalent of a baseball bat -- see below for the latest example -- and yet they come back for more. That suggests one of two...
A Clear Distinction
Although there is some question about the difference between a recession and a depression, many people would probably agree that the latter tends to have a more pronounced and long-lasting effect on attitudes and behavior than the former. If people...
Maybe Not
A recent commenter at Financial Armageddon wrote that I am "intellectually dishonest" and "cannot accept bad news." In his view, we have "avoided a double-dip recession" and, whether I like it or not, "the economy is improving." While I disagree...
You Know the Answer
OK, time to relax: the media, the central bank, a great many mainstream economists, and the Organization of Economic Co-Operation and Development are claiming that further economic weakness is off the table: "Fears of a Second Recession Ease, at Least...
