Inflation at 17-Year High

Staff / Truthdig Aug 15, 2008 Stagflation: It's always sounded like a dirty word, and is hopelessly tied to retro jokes about the '70s. But with GDP growth already, well, stagnant, the Labor Department announced Thursday that July saw the highest rate of inflation in 17 years, meaning you can now appropriately drop the word into water cooler convo without seeming like a potty-mouth or a retro hipster. On the downside, you are now paying 5.6 percent more for things than you did at this time last year. Dig deeper ( 1 Min. Read )

Inflation Runs at a 26-Year High

Staff / Truthdig Jul 16, 2008 The once-mighty US dollar is full of hot air, or at least the rate of inflation is at a 26-year high due to the recent economic toils and astronomical energy prices Prices U consumers pay shot up 11 percent in June -- or more directly, your paycheck just got 11 percent smaller. Dig deeper ( 1 Min. Read )

Fed Forecasts Economic Gloom

Staff / Truthdig Jul 9, 2008 Federal Reserve Chairman Ben Bernanke expects America's economic struggles to continue well into next year and has asked Congress to expand his regulatory powers. Lawmakers are unlikely to fulfill his request any time soon. Bernanke also suggested that the Fed could continue to bail out investment banks. Dig deeper ( 1 Min. Read )

Greenspan Talks Recession as Oil Prices Soar

Staff / Truthdig Jun 25, 2008 Seems like everything is a crisis these days, what with the subprime mortgage crisis, the oil crisis and, perhaps most troubling of all, the climate change crisis. Former Federal Reserve Chairman Alan Greenspan acknowledged the complexity and interconnectedness of these unsettling trends Tuesday, stopping short of declaring that a major recession is on the way but without ruling out a recession of lesser magnitude. Dig deeper ( 1 Min. Read )

The Decriminalization of Corporate Crime

Stanley Kutler / Truthdig Mar 29, 2008 With our economic and financial crises deepening, government insiders reportedly are debating whether we need to restore some regulation -- or not. Given the state of things, we can expect further woes and no regulation. Dig deeper ( 4 Min. Read )

Bush’s Legacy of Failure

Robert Scheer / Truthdig Mar 18, 2008 That idiotic "what, me worry?" look just never leaves the man's visage. Once again there was our president, presiding over disasters in part of his making and totally on his watch, grinning with an aplomb that suggested a serious disconnect between his worldview and existing reality. Dig deeper ( 3 Min. Read )

Greenspan: Dark Days Ahead for the Global Economy

Staff / Truthdig Mar 17, 2008 Those hoping for better news about the state of the U.S. economy -- not to mention the bigger picture -- aren't going to hear it from former Fed chair Alan Greenspan anytime soon, judging by his ominous forecast released Monday. Dig deeper ( 1 Min. Read )

Recession? What Recession?

Staff / Truthdig Mar 8, 2008 President George W. Bush has often invited comparisons to Mad magazine antihero Alfred E. Neuman, and his latest comments regarding a potential recession in the U.S. aren't helping him shake the "What, me worry?" tag line anytime soon. Dig deeper ( 1 Min. Read )

U.S. Job Loss Highest in 5 Years

Staff / Truthdig Mar 7, 2008 The short month of February was long on economic problems, as 63,000 U.S. jobs were lost over the 29 days. In other words, for those betting that a recession isn't around the corner, the outlook is dim. Dig deeper ( 1 Min. Read )

Fed Forecasts Slow Growth in 2008

Staff / Truthdig Feb 21, 2008 Officials at the Federal Reserve are running out of creative ways to stave off a recession and expect the U.S. economy to slow to a crawl in 2008, with a growth rate of only 1.3 to 2 percent over the year. Dig deeper ( 1 Min. Read )

Fed Steps Into Mortgage Mess

Staff / Truthdig Dec 19, 2007 The term "subprime mortgage" has certainly been in heavy rotation in recent months, and economic panic has spread as a result of lenders playing fast and loose with their home-lending criteria, causing chaos in the mortgage market. Enter the Federal Reserve to try to undo some of the damage and prevent a recurrence. Dig deeper ( 1 Min. Read )

Greenspan Slams Team Bush in New Memoir

Staff / Truthdig Sep 16, 2007 Alan Greenspan is no fan of the Bush administration or the once-dominant congressional Republicans. In his new memoir, "The Age of Turbulence: Adventures in a New World," the former Federal Reserve chairman disparages the two groups for violating the GOP's values on spending and small government. Updated Dig deeper ( 1 Min. Read )