Posted on November 6, 2009 by dakinikat
The Unemployment rate hit a dizzying 10.2% today. It’s basically the highest rate we’ve had since 1983. The unemployment rate that includes discouraged workers and workers at part time jobs that want full time instead hit 17.5% Needless to say, this is NOT encouraging at any level. The one thing I saw that is possibly [...]
Filed under: Economic Stimulus, Economy | Tagged: it's the jobs stupid, underemployment, unemployment | 71 Comments »
Posted on October 29, 2009 by dakinikat
In what is undoubtedly good news, the US Bureau of Economic Analysis (Dept. of Commerce) has announced that REAL GDP grew by approximately 3.5% in the third quarter of 2009. That is up from the second quarter growth of .7%. It appears that the economy may be rebounding from the so-called “Great Recession”. However, as [...]
Filed under: Bad Bank, Economic Blogs, Economic Stimulus, Economy, Financial Meltdown of 2008, Wall Street and the Bonus Class, financial bailout | Tagged: banks, GMAC, Sheila Bair, Too Big to Fail | 22 Comments »
Posted on October 13, 2009 by dakinikat
Bruce Bartlett has just released a new book–and a mea culpa of sorts– for supply side economics (SSE). As an ex-aide to the late Jack Kemp and author of a book on Reaganomics, Bartlett’s got an interesting perspective from having a seat near the table. He also takes a few undeserved potshots at some Keynesians [...]
Filed under: Economic Blogs, Economic Development, Economic Stimulus, Economy | Tagged: Bruce Bartlett, reaganomics, Supply Side econonomics | 9 Comments »
Posted on October 10, 2009 by dakinikat
Economist Andy Xie says Lehman Brothers died in vain and that it’s just a matter of time before we get hit by another deadly bubble. His guest post at Caijing Magazine is just so dead on that you must go read it.
There has been plenty to learn from last year’s miserable economy and near [...]
Filed under: Economic Blogs, Economic Stimulus, Economy, Financial Meltdown of 2008, financial bailout | Tagged: bubble economy, financial crisis, Financial Regulation | 49 Comments »
Posted on October 3, 2009 by dakinikat
You may remember back in January that I was not happy and very outspoken about the size of the Obama Stimulus plan. I was not impressed by the content or with the mix between tax cuts and direct government spending. You may recall that the Blue Dogs interminable resistance to do anything that might wake [...]
Filed under: Economic Blogs, Economic Stimulus, Economy, General, The Great Recession, The Obama Depression | Tagged: balanced budget, economic stimulus, Obamanomics, reaganomics, unemployment | 45 Comments »
Posted on October 2, 2009 by dakinikat
I keep repeating this like a mantra, but an economy that relies on households buying 70% of its production, and households that rely on wages for 67% of their income, is not going to get healthy until it creates more jobs. That’s why Robert Reich, Paul Krugman, and this Cajun Country Economist are still stuck [...]
Filed under: Economic Stimulus, Economy, The Great Recession | Tagged: discouraged workers, Paul Krugman, Robert Reich, underemployment, unemployment rate | 131 Comments »
Posted on September 28, 2009 by dakinikat
I started the big lecture in macroeconomics on unemployment with a very out of date textbook. It isn’t even that old in terms of textbook cycles. It’s just the world economy has changed; really changed. The last unemployment data I was looking at came from 2007 and a world of hurt and CHANGE (TM) stands [...]
Filed under: Economic Stimulus, Economy | Tagged: Labor Markets, unemployment | 34 Comments »
Posted on September 11, 2009 by dakinikat
I put this article from yesterday’s NYTimes in the comments section of my thread yesterday. I’m not sure every one read it so I thought I’d front page it. It’s on the increasing poverty and median income declines in the U.S. as reported by the Center on Budget and Policy Priorities (CBPP) and the Census [...]
Filed under: Economic Stimulus, Economy | Tagged: Census data, deep poverty, median income, Poverty, uninsured | 57 Comments »
Posted on September 4, 2009 by dakinikat
The release of the new unemployment data and labor market data was pretty much in keeping with expectations. MarketWatch reports that the unemployment rate is now at an 26 year high coming in at 9.7%. The drop in payroll numbers wasn’t as severe as it has been recently, but there are still troubling underlying factors.
Payrolls [...]
Filed under: Economic Stimulus, Economy | Tagged: FHA insolvency, job loss, unemployment rate | 77 Comments »
Posted on August 27, 2009 by dakinikat
Doctor Doom, Nourielle Roubini, an economist and professor at NYU, always manages to turn an interesting phrase when making his trademark pessimistic forecasts. He’s really done it this week in Forbes.
I wrote about the Federal deficit last week and covered the major points of why we are on an unsustainable path for our taxes and [...]
Filed under: Economic Stimulus, Economy, Financial Meltdown of 2008 | Tagged: Congressional Budget Office, Federal Deficit, Nourielle Roubini, ponzi scheme, VooDoo Economics, VooDoo Politics | 73 Comments »