Saturday, October 1, 2011
Home Prices Unlikely to Recover Before 2020
Home prices are unlikely to recover before 2020 and mortgage defaults will persist for years, says a survey of bank risk managers out Friday.-No Rise in Home Prices Until 2020: Bankers
Economists Predict Another Recession in U.S
“We are going into a brand new recession. We had about a 2 year expansion and I’m sorry to say, there’s no way out of this, all we do is study recessions and recoveries and we do not make these calls lightly and we are not eager to make them, but when the objective evidence presents to us patterns that are recessionary, we have to call it like it is.”
Tuesday, September 27, 2011
Saturday, August 27, 2011
The Economic Situation Is Set To Get Much Worse
A new batch of economic figures released this week confirms a renewed economic downturn, amidst an intensified assault on jobs and living conditions internationally.
The Organization for Economic Cooperation and Development (OECD) said the gross domestic product of its member countries grew by only 0.2 percent in the second quarter of this year, dropping from 0.3 percent in the first quarter.
Growth has slowed for four consecutive quarters, hitting the lowest level in two years.
The OECD’s 34 members include the UK, Russia, Japan, Canada, the United States and most countries in the Eurozone. Most of the member nations separately announced their growth figures earlier this month. German economic growth all but collapsed, expanding only 0.1 percent in the second quarter, compared to 1.3 percent in the first.
The Japanese economy shrank 0.3 percent, after contracting .9 percent in the first quarter. The French economy stopped growing completely, after an expansion of 0.9 percent. The United Kingdom grew just 0.2 percent, after expanding 0.5 percent in the first quarter.
Three years after the financial crash of 2008, none of the problems that have plunged the world economy into a recession, resulting in the destruction of millions of jobs, have been resolved. The bailout of the financial system has transferred the bad assets of the banks onto government balance sheets, and the ruling class is responding through brutal austerity measures and intensified exploitation. - Economic growth stalls amidst debt crisis, austerity
The Organization for Economic Cooperation and Development (OECD) said the gross domestic product of its member countries grew by only 0.2 percent in the second quarter of this year, dropping from 0.3 percent in the first quarter.
Growth has slowed for four consecutive quarters, hitting the lowest level in two years.
The OECD’s 34 members include the UK, Russia, Japan, Canada, the United States and most countries in the Eurozone. Most of the member nations separately announced their growth figures earlier this month. German economic growth all but collapsed, expanding only 0.1 percent in the second quarter, compared to 1.3 percent in the first.
The Japanese economy shrank 0.3 percent, after contracting .9 percent in the first quarter. The French economy stopped growing completely, after an expansion of 0.9 percent. The United Kingdom grew just 0.2 percent, after expanding 0.5 percent in the first quarter.
Three years after the financial crash of 2008, none of the problems that have plunged the world economy into a recession, resulting in the destruction of millions of jobs, have been resolved. The bailout of the financial system has transferred the bad assets of the banks onto government balance sheets, and the ruling class is responding through brutal austerity measures and intensified exploitation. - Economic growth stalls amidst debt crisis, austerity
Greek Bailout in Trouble
Multisource political news, world news, and entertainment news analysis by Newsy.com
Monday, August 22, 2011
Saturday, August 20, 2011
Fear Grips Global Markets
Global fears of another US Recession have sent stocks tumbling again on Wall Street. Europe's own issues with debt and dealing with it also weighed in on equity issues around the world.
Wednesday, August 17, 2011
Sunday, August 14, 2011
Saturday, August 13, 2011
Bad Economy Rocks Hollywood!
Halting tentpole movies is certainly is happening with more regularity in Hollywood lately. Universal recently halted production on a version of At The Mountains Of Madness that Guillermo del Toro was going to direct with Tom Cruise starring, and it also halted an adaptation of King's The Dark Tower that Ron Howard, Brian Grazer, and Akiva Goldsman were ready to do, in a trilogy of movies and two limited run TV series. And just this week, DreamWorks halted Southpaw, a boxing drama that has Eminem set to star in his first role since 2002's 8 Mile with Antoine Fuqua directing. It's clear that studios are making their bets more shrewdly, particularly with the economic uncertainty that has rocked the stock prices of parent companies of film studios. Even if it means bruised feelings from stars, directors and producers accustomed to having it their way. -SHOCKER! Disney Halts 'The Lone Ranger' With Johnny Depp And Gore Verbinski
Friday, August 12, 2011
Nothing compared to what is coming
A lot of people like to blame the increasingly bizarre behavior of the American people on the economy, but the reality is that things are not nearly as bad as they are eventually going to be. Yes, the U.S. "Misery Index" recently hit a 28-year high. Tens of millions of American families are deeply suffering. Unemployment is rampant and unprecedented numbers of Americans have been getting kicked out of their homes.
But that is nothing compared to what is coming.
So what is America going to look like when true economic suffering comes along?
-20 Signs That The Fabric Of American Society Is Coming Apart At The Seams
But that is nothing compared to what is coming.
So what is America going to look like when true economic suffering comes along?
-20 Signs That The Fabric Of American Society Is Coming Apart At The Seams
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