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Tag: Recession

Gas Price and Recovery

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Posted on Feb 24, 2013 READ MORE



jDevaun (CC BY-ND 2.0)

Cost of Financial Crisis Tops $22 Trillion

The 2008 financial crisis cost the U.S. economy more than $22 trillion, a study by the Government Accountability Office published Thursday said.

Posted on Feb 15, 2013 READ MORE



Stuart Conner (CC BY-ND 2.0)

How Congress Could Fix Its Budget Woes Permanently

Money today is simply a legal agreement between parties. Nothing backs it but “the full faith and credit of the United States.” The United States could issue its credit directly to fund its own budget, just as our forebears did in the American colonies and as Abraham Lincoln did in the Civil War.

Posted on Feb 14, 2013 READ MORE


Inflation

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Posted on Feb 4, 2013 READ MORE


Dollar

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Posted on Jan 27, 2013 READ MORE


New Year Fiscal Cliff

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Posted on Dec 30, 2012 READ MORE


Boehner the Squeaker

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Posted on Dec 30, 2012 READ MORE


Golden Parachute

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Posted on Dec 29, 2012 READ MORE


Ned Claus

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Posted on Dec 29, 2012 READ MORE


Bad Economy Christmas

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Posted on Dec 25, 2012 READ MORE



Elvert Barnes (CC BY 2.0)

Youth Homelessness Abounds in America

The recession has left tens of thousands of young people with inadequate or no jobs struggling to find a home, even if they possess college credits or work histories.

Posted on Dec 21, 2012 READ MORE


Jobless Elf

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Posted on Dec 17, 2012 READ MORE


Financial Assistance

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Posted on Dec 17, 2012 READ MORE


Christmas Lights

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Posted on Dec 7, 2012 READ MORE



vicmontol (CC BY 2.0)

Truthdiggers of the Week: Iceland’s Leaders

One country refused to bail out its derelict banks and slash social spending amid the financial crisis. And guess what? Unlike the eurozone and the United States, it’s making a sturdy comeback.

Posted on Dec 1, 2012 READ MORE


Fiscal Cliff

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Posted on Nov 26, 2012 READ MORE



Ondrej Kloucek (CC BY-SA 2.0)

Recession in the Eurozone: Round 2

Recession has returned to the eurozone for the second time since the financial crisis began in 2008. The region’s GDP fell by 0.1 percent in 2012’s third quarter, which followed a 0.2 percent contraction in the previous three months.

Posted on Nov 15, 2012 READ MORE



White House/Pete Souza

Why Obama Deserves a Second Term

My family survived the Great Recession because of the policies of the Obama administration. I suspect we were not alone in benefiting from one or another of the various relief programs.

Posted on Oct 15, 2012 READ MORE


Crisis

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Posted on Oct 6, 2012 READ MORE



DonkeyHotey (CC BY 2.0)

Eurozone Headed for a New Recession

The eurozone is headed for another recession as its economic output shrinks again in 2012’s third quarter, economists say.

Posted on Aug 23, 2012 READ MORE



breahn (CC BY 2.0)

Kids May Suffer More Abuse in a Bad Economy

The recent economic recession and housing crisis may have encouraged an increase in the rate of physical abuse and brain injury to American children, researchers in Philadelphia report.

Posted on Jul 17, 2012 READ MORE



http2007 (CC BY 2.0)

China’s Economic Growth Slows

Growth for the world’s largest exporter hit its slowest pace in three years as demand for Chinese products waned in the U.S., Europe and elsewhere, prompting the country’s leaders to encourage investment with stimulus measures.

Posted on Jul 13, 2012 READ MORE



Rennett Stowe (CC BY 2.0)

Layoffs of Public Workers Harm Recovery

Although the private sector has made meager employment gains since the beginning of the long climb out of the recession, government jobs are disappearing at an accelerating rate.

Posted on Jun 20, 2012 READ MORE


American Pipe Dream

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Posted on Apr 13, 2012 READ MORE



White House / Pete Souza

Obama: GOP Budget Plan Is ‘Social Darwinism’

In case Paul Krugman’s comparison between the GOP’s prized budget plan and pink slime wasn’t a strong enough indication of its reception among the opposition, here comes President Obama with a descriptive attack of his own.

Posted on Apr 3, 2012 READ MORE


Euro Flag

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Posted on Apr 1, 2012 READ MORE



Wikimedia Commons

Spanish Government Goes for Big Austerity Cuts

Remember when austerity sounded more like an obscure SAT word than cause for international economic panic? This time around, it’s the Spaniards who are feeling the pinch, as their government has announced major budget cuts for the year.

Posted on Mar 30, 2012 READ MORE



Flickr / Mark Fischer (CC-BY-SA)

Liberty and Health Care for All

“There is an important connection, a profound connection, between that problem and liberty. And I do think it’s important that we not lose sight of that,” Solicitor General Donald Verrilli told the Supreme Court.

Posted on Mar 29, 2012 READ MORE



Glasto_2009 (CC-BY)

U.K. Falls Back Into Recession

Following Ireland’s recent slide into recession territory, the OECD, a Paris-based economic think tank, reports that the U.K.’s economic doldrums have returned.

Posted on Mar 29, 2012 READ MORE


Muppets Demand Justice From Goldman Sachs

The Muppets will not stand for the kind of insult that Goldman Sachs execs, according to famous defector and detractor Greg Smith, heaped on their felty heads by calling clients “Muppets” in a derogatory fashion.

Posted on Mar 27, 2012 READ MORE



cobalt123 (CC-BY)

Ireland Is Pushed Back Into Recession

A 0.2 percent dip in GDP at the end of 2011, which followed a drastic decline in the third quarter, has thrown Ireland back into recession, alongside Belgium, the Netherlands, Italy, Portugal and Greece, and begs the question of whether austerity is the answer to Europe’s economic woes.

Posted on Mar 24, 2012 READ MORE



AP / Steven Senne

Romney Foresees an Economic Comeback

Maybe he should hold this kind of optimistic talk until after the election, but on Monday, GOP presidential hopeful Mitt Romney said he thinks things are looking up for our recession-ravaged economy. Just not as much as they would have been had he been in charge over these last three years.

Posted on Mar 19, 2012 READ MORE



bbc.co.uk

Truthdigger of the Week: Greg Smith

Yes, as a high-level executive for Goldman Sachs for more than a decade, Greg Smith was part of the toxic culture he decried in the resignation letter printed in Wednesday’s New York Times and re-posted around the world. Thus, he was part of the problem.

Posted on Mar 15, 2012 READ MORE



AP / Mark Lennihan

Goldman Sachs Exec Exits With a Bang

We’re guessing that outgoing Goldman Sachs executive director Greg Smith’s last day on the job Wednesday was pretty awkward, given what he had to say about his employer in a scorching Op-Ed article printed in The New York Times for the occasion.

Posted on Mar 14, 2012 READ MORE



Flickr / edEx

More Good News on Jobs for February

For the third month in a row, figures coming in from the Department of Labor signal a stronger recovery in the employment market than the country has seen in years. President Obama gets a boost from the good news, but is there any way to read these numbers differently?

Posted on Mar 9, 2012 READ MORE



AP / Michael Probst

Greece Set for Second Bailout

Having pulled off the biggest debt restructuring deal ever, Greece is on track for yet another bailout. Meanwhile, the Greek government is also preparing to make yet another round of austerity cuts, which may involve lowering the nation’s minimum wage.

Posted on Mar 9, 2012 READ MORE



Gage Skidmore (CC-BY-SA)

Recession Economics According to Rick Santorum

Did you know that it was actually jumping gas costs, and not deceptive lending practices on the part of mortgage financiers and deregulation madness on Wall Street, that got us into the recessionary quandary in which the majority of Americans still find themselves?

Posted on Feb 27, 2012 READ MORE


Wirewalking

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Posted on Feb 26, 2012 READ MORE



Mr. Fish

Obama Dials Down the Campaign Rhetoric

The whole “hope” thing is a little much, and the “change” bit is played out, so however will Barack Obama spin his slogans for this presidential campaign as the embattled incumbent? Let’s call it American Dream Lite, if you will.

Posted on Feb 21, 2012 READ MORE



AP / Mark Lennihan

Dow Breaks 13,000 for First Time Since 2008

Analysts are heralding the Dow Jones’ jumps past 13,000 on two brief occasions Tuesday as a sign that all this talk of economic recovery may be more bull market than, well, bull. Here’s hoping they’re right. 

Posted on Feb 21, 2012 READ MORE



Flickr / Veronica V (CC-BY-SA)

Consumer Agency Puts Debt, Credit Companies on Notice

The Consumer Financial Protection Bureau may not be popular with some conservatives, but the CFPB and its stealthily appointed Director Richard Cordray are here to stay, and the watchdog agency is kicking into action by making debt collectors and credit rating companies accountable for their actions.

Posted on Feb 16, 2012 READ MORE



AP / Cliff Owen

Banks, Gov’t Strike $25B Deal in Foreclosure Fraud Settlement

On Thursday, state and federal government representatives announced that five major banks—Wells Fargo, Bank of America, Ally Financial, Citigroup and JPMorgan Chase—had agreed to pay their part in a settlement of more than $25 billion stemming from the mortgage market meltdown that caused millions of Americans to lose their homes.

Posted on Feb 9, 2012 READ MORE



hotelworkersrising.org

The Price of a Good Night’s Sleep

For anyone who does not belong to the very capstone of the American social pyramid, the old slogan of the labor movement is gaining a new and terrible meaning: An injury to one is an injury to all.

Posted on Feb 7, 2012 READ MORE



Flickr / edEx

Employment Numbers Get an Unexpected Bump in January

The first month of 2012 turned out to be the best in three years in terms of the ongoing unemployment crisis in the U.S. Although 8.3 percent is nothing to get too excited about, it was supposed to tally up at 8.5 percent for January, so we’ll take it. 

Posted on Feb 3, 2012 READ MORE



mynews3.com

Damage Control, Romney Style

Although Mitt Romney owned, in an interview with Nevada journalist Jon Ralston on Thursday, that he “misspoke” the day before in saying he was “not concerned about the very poor,” the presidential candidate might not have much wiggle room amid a speed-fueled news cycle and a chilly Rick Santorum standing watch.

Posted on Feb 3, 2012 READ MORE


unemployment office
Flickr / clementine gallot (CC-BY)

Where the Jobs (Still) Aren’t

Geography is one of those seemingly stodgy fields that’s enjoyed an infusion of innovation in recent years, and here’s a sobering yet useful map of the U.S. to illustrate that point. Specifically, you’ll see how different zones of the country have fared in terms of long-term unemployment. Looking good, Middle America.

Posted on Feb 1, 2012 READ MORE



AP / Michael Probst

Is Europe Making a Comeback?

Once again, European leaders convened for a eurozone pep rally on Tuesday, meeting up in Brussels to see if their economic resuscitation efforts in recent months are paying off and if Greece will stop hogging all the attention anytime soon.

Posted on Jan 31, 2012 READ MORE



Flickr / respres (CC-BY)

Report: Freddie Mac Stacked the Deck Against Homeowners

A joint investigation by NPR and ProPublica has rustled up some disquieting trading practices on the part of Freddie Mac that suggest the taxpayer-run mortgage company hasn’t exactly done its darndest to help struggling Americans hold on to their homes—in fact, the opposite may be more the case.

Posted on Jan 30, 2012 READ MORE



Flickr / SimonAlparaz (CC-BY)

Recovery Drags as Americans Dip Into Savings

For obvious reasons, Americans’ savings accounts are shrinking during this ongoing recession, both because there’s not as much money to deposit and many more reasons to make withdrawals. This has consequences for the economy’s long-term recovery prospects, as does another currently popular method of payment: the credit card.

Posted on Jan 17, 2012 READ MORE



Wikimedia Commons / Lynda Poulter (CC-BY-SA)

British PM: No Public Funding for Queen’s Yacht

British Prime Minister David Cameron made a good call Monday by declaring that no funds from U.K. taxpayers’ pockets should be funneled toward gifting Queen Elizabeth II with a shiny new $90 million yacht on the occasion of her Diamond Jubilee.

Posted on Jan 16, 2012 READ MORE


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