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Tag: Recession


AP / Geert Vanden Wijngaert

Brussels Summit Will Not Avert Eurozone Crisis

At the close of an economic summit that appears to have failed to rescue Italy, Spain and more of Europe from sinking deeper into a mire of recession, Guardian economics editor Larry Elliott prefigures the collapse of the euro as a unifying currency of the European Union. (more)

Posted on Dec 10, 2011 READ MORE



AP / Remy de la Mauviniere

High Fashion in the Time of Recession

Granted, he is the head designer at Chanel, and haute couture has never been about realism or frugality, but Karl Lagerfeld might do well to drop his socioeconomic commentary to the level of a whisper breathed to like-minded luxe junkies from behind a lacy fan in Paris. 

Posted on Dec 7, 2011 READ MORE


Foreclosure
Flickr / respres

The Occupy Movement’s Next Frontier

Those critics of Occupy Wall Street who claimed the movement lacked direction might look to foreclosed homes around the country, as well as housing auctions at select banks, where activists turned up Tuesday as part of the Occupy Our Homes initiative.

Posted on Dec 6, 2011 READ MORE


Santa Euro Crisis

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Posted on Dec 4, 2011 READ MORE


A Crisis Story

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Posted on Dec 3, 2011 READ MORE



AP / Alex Brandon

Don’t Laud the Jobless Drop

November’s dip in the official unemployment rate is nothing to clap about. Scrutiny of the details reveals that the new figure of 8.6 percent is due mostly to 315,000 Americans dropping out of the search for work, and most of the newly created positions were low-paying ones. That includes temporary jobs created to support the spike in commerce that comes with the holiday season. (more)

Posted on Dec 3, 2011 READ MORE


Christmas Shopping 2012

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Posted on Dec 1, 2011 READ MORE



Wikimedia Commons / Dan Smith (CC-BY-SA)

Secret Fed Loans Gave Banks Big Profits During Bailout

Here we have some news that Ohio Sen. Sherrod Brown believes “can unite the tea party and Occupy Wall Street.” Sound implausible? Well, Bloomberg News’ parent company went to court to access 29,000 pages of documents from the Federal Reserve, from which the outlet gleaned ... (more)

Posted on Nov 29, 2011 READ MORE



AP / Matt Rourke

Thanks for What?

On this Thanksgiving we have been cheated of the bounty of the harvest as one in three Americans descends into poverty.

Posted on Nov 24, 2011 READ MORE


GOP Panic Button

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Posted on Nov 22, 2011 READ MORE


Super Committee Gun

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Posted on Nov 20, 2011 READ MORE


Not-So-Super Committee

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Posted on Nov 19, 2011 READ MORE



AP / Mary Altaffer

Occupiers Rally, Media Tallies on National Day of Action

On Thursday, two months into the Occupy Wall Street movement, protesters turned out en masse in New York, Los Angeles and other flash points around the country to continue their call for financial reform and to make a show of solidarity after New York City Mayor Michael Bloomberg and his counterparts in ... (more)

Posted on Nov 17, 2011 READ MORE



Flickr / quinn.anya (CC-BY-SA)

America’s Middle-Class Neighborhoods on the Decline

As America’s middle class continues to diminish, it follows that the middle-class neighborhoods they once called home would shrink accordingly. Well, they are, finds a new Stanford University study, which charted changes in Americans’ living quarters since 1970. The results are sobering, if unsurprising.

Posted on Nov 16, 2011 READ MORE



drpepper.com

Marketing Masculinity in an Age of Male Anxiety

What better way to jack up men’s flagging sense of masculine prowess in these times of economic instability, with gender roles shifting by the minute, than by introducing a line of house paints that includes the colors “Bro Code” and “Zombie Apocalypse”? (more)

Posted on Nov 15, 2011 READ MORE



Wikimedia Commons

Report Claims Rep. Bachus Capitalized on Financial Meltdown

It’s already bad to think of a congressman cashing in on his insider knowledge of impending economic catastrophe, as Alabama’s Rep. Spencer Bachus stands accused of doing, but it’s all the more darkly ironic given his role as chairman of the House Financial Services Committee.

Posted on Nov 14, 2011 READ MORE



Flickr / Alessio85

Berlusconi Shown the Door

Italian Prime Minister Silvio Berlusconi has powered his way through political crises with all the subtlety and grace of a battering ram, but in the end, he couldn’t fix Italy’s foundering economy. So, Il Cavaliere (The Knight) is about to lose his occupazione (job).

Posted on Nov 8, 2011 READ MORE


Who’s Paying?

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Posted on Nov 8, 2011 READ MORE


Berlusconi
Wikimedia Commons/Agência Brasil

So Long, Silvio?

Either Italian Prime Minister Silvio Berlusconi is in serious denial mode or he’s about to pull off a recession-defying stunt of unprecedented proportions, as pressure is mounting for the embattled PM to follow the fresh example of his Greek counterpart ... (more)

Posted on Nov 7, 2011 READ MORE


Holidays Economy

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Posted on Nov 6, 2011 READ MORE


Deflated Euro

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Posted on Nov 2, 2011 READ MORE


Greek Ruins

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Posted on Nov 2, 2011 READ MORE



Flickr / clementine gallot (CC-BY)

Fed Changes Growth, Employment Forecast for the Worse

Back in June, the Federal Reserve predicted a sunnier economic future for the U.S. than it did Wednesday, when the Fed released revised figures for both growth (it’ll happen more slowly) and unemployment (it’ll continue to hover around 9 percent) through 2012. But the news wasn’t all gloomy.

Posted on Nov 2, 2011 READ MORE



Halloween and Radio Unreality

A radio show decades ago is misremembered as having caused widespread panic on Halloween; Congress has become just another form of legalized bribery; and the left-wing San Francisco Chronicle has been covering that city’s Occupy movement like a right-wing paper. These discoveries and more after the jump.

Posted on Oct 31, 2011 READ MORE



AP / Thomas Watkins

The Great Depression Right Outside Our Doors

While Occupy Wall Street and similar movements around the country take aim at financial institutions and their political cronies for taking the country into recession, let’s not forget those at the very bottom who were victims of economic depression long before the current collapse.

Posted on Oct 28, 2011 READ MORE



bbc.co.uk

Greek Parliament Passes Austerity Package

While the international media zoomed in on Libya on Thursday, another important story was unfolding in Athens, where two days of strikes and protests failed to sway parliament members from passing a bill of austerity measures the Greek government insisted was necessary to avoid an even more catastrophic economic mess.

Posted on Oct 20, 2011 READ MORE



AP / Mark Lennihan

Goldman Sachs Sags in Third Quarter

Even bad news has a way of turning around fast for Goldman Sachs. The financial giant was forced to concede Tuesday that it did not, for once, defy the laws of market physics as it has done even in the throes of the ongoing recession (you can keep your sketchy recession timeline, New York Times), and that it had ... (more)

Posted on Oct 18, 2011 READ MORE



Anonymous via Eddie Colla

Anonymous Wants You to Move Your Money

Camping out by Wall Street and peacefully protesting are but two ways of signaling collective displeasure about America’s compromised economic system, but here comes Anonymous with another handy tip for would-be opponents of our nation’s banking behemoths: Let the currency of their realm do the talking.

Posted on Oct 11, 2011 READ MORE



Flickr / Mel R

U.S. Income Levels Plunged as Recession Lifted

More interesting, perhaps, than this New York Times article’s proffered data on falling household incomes and the reasons for same is its official timeline for our nation’s most recent recession: “ … From December 2007 to June 2009.” (more)

Posted on Oct 10, 2011 READ MORE


Wall Street Protests

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Posted on Sep 29, 2011 READ MORE


Threat

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Posted on Sep 25, 2011 READ MORE



Flickr / Antony Adolf (CC-BY)

Obama: Investing in Public Schools Will Boost Economy

President Barack Obama stressed the importance of quality education in a speech Friday when he announced that any states willing to commit to higher standards of education can get a waiver from the No Child Left Behind law. (more)

Posted on Sep 24, 2011 READ MORE



Flickr / David Paul Ohmer (CC-BY)

Recession Fears Rattle World Markets

Stocks around the world dropped sharply Thursday after the U.S. Federal Reserve acknowledged a day earlier that the economy won’t improve any time soon. (more)

Posted on Sep 22, 2011 READ MORE



Flickr / Images_of_Money

As Another Crisis Looms, a Case for the Euro and Collective Action

In the discussion over how to solve Europe’s financial crisis, opponents of the euro argue “that it is a monetary straitjacket and that the best reform now would be its breakup.” Not so, says Will Hutton, author, columnist and former editor-in-chief of The Observer. (more)

Posted on Sep 21, 2011 READ MORE



Joe Hall (CC-BY)

22 Percent of American Children Live in Poverty

The Census Bureau reports that in 2010, more Americans descended into poverty than in any other time since the government started keeping track in 1959. The 2010 poverty threshold for a family of four was a mere $22,314 a year, and 46.2 million of us have been surviving on that or less.

Posted on Sep 13, 2011 READ MORE



Flickr / Andrew Rusk

Chomsky 10 Years After 9/11

This Thursday, Seven Stories Press will release a 10th anniversary reissue of Noam Chomsky’s book on the World Trade Center attacks titled “9-11: Was There an Alternative?” and TomDispatch has an exclusive excerpt from the new preface. (more)

Posted on Sep 7, 2011 READ MORE



Nurses vs. Wall Street

Nurses in San Francisco make a statement about Wall Street; Hispanic media are faring better than their mainstream counterparts; and Steve Jobs leaves the world with a pricey legacy. These discoveries and more after the jump.

Posted on Sep 7, 2011 READ MORE



Flickr / Shoshanah

The 10 Worst U.S. State Economies

AlterNet has compiled a list of the 10 worst U.S. state economies by measures of unemployment, time out of work, per capita income, median net worth, poverty, access to health insurance and foreclosure. (more)

Posted on Sep 5, 2011 READ MORE


Labor Day

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Posted on Sep 4, 2011 READ MORE


Mission Impossible

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Posted on Aug 28, 2011 READ MORE



Wikimedia Commons via Miller-McCune

Welfare Reform in a Jobless Economy

Although the recession has increased demand for social programs such as food stamps, welfare rolls have not kept pace with the drastic increase in human misery. Long story short: Welfare reform, launched 15 years ago in a booming economy, broke the system … (more)

Posted on Aug 24, 2011 READ MORE



Flickr / Office of Governor Patrick

More U.S. Schools Moving to 4-Day Week

In this era of shrinking budgets, an increasing number of American public schools are closing their doors on Fridays. Besides stripping American children of one-fifth of their time available to learn, the shift is forcing working parents to seek expensive childcare while school employees see their pay reduced—or their jobs eliminated. (more)

Posted on Aug 23, 2011 READ MORE


The Stock Market Show

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Posted on Aug 23, 2011 READ MORE


Cracked Window

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Posted on Aug 22, 2011 READ MORE



Flickr / stevendamron

A Look at the ‘Bush-Obama’ Presidency

Essayist, Yale English professor and TomDispatch contributor David Bromwich takes a careful accounting of the “sacked” and “saved” members of the Obama administration in an attempt to reveal the similarities between his presidency and George W. Bush’s. (more)

Posted on Aug 22, 2011 READ MORE



Flickr / 7bikeframesweldedtogether

Spike in Consumer Spending Spells Danger

Consumer borrowing shot up $15.5 billion in June—three times more than projected—in the biggest increase in credit in four years, with credit card and other types of revolving debt rising by $5.21 billion—the largest jump since spring of 2008. (more)

Posted on Aug 15, 2011 READ MORE



Flickr / evitbolt

Business Booms in the Executive Protection Industry

A rising number of celebrities, corporate executives and other people with great wealth and status are paying big bucks for personal protection forces. (more)

Posted on Aug 12, 2011 READ MORE


Wall Street Bull

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Posted on Aug 7, 2011 READ MORE


Obama Going Gray

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Posted on Aug 6, 2011 READ MORE


Wall Street Distress Flag

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Posted on Aug 6, 2011 READ MORE


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