‘Economy’ Archives
Jobless claims at 472,000, decrease by 6,000- still higher than August 2009
WASHINGTON (MarketWatch) -- The number of people applying for unemployment benefits fell by 6,000 to 472,000 in the week ended Aug. 28, but first-time claims remain at an elevated level, government data showed Thursday. After a brief surge earlier this year, numerous signs indicate the U.S. economy appears to have cooled off over the summer, [...]
829 banks show up on FDIC “problem list”
WASHINGTON—More than a tenth of U.S. banks remain at risk of failure even as some industry indicators, including credit quality, show some nascent signs of revival. The Federal Deposit Insurance Corp. said Tuesday that 829 of the nation's roughly 7,800 banks were on its "problem list" at the end of June, up from 775 at the end of the first [...]
William Hurt To Star In HBO Financial Crisis Pic
Deadline.com Reports: HBO has set William Hurt to play Treasury Secretary Henry Paulson and Curtis Hanson to direct Too Big To Fail, a dissection of the 2008 financial crisis and the power brokers who decided the fate of the world's economy as the system teetered on collapse. Shooting begins in early fall. Peter Gould wrote the script, [...]
Distractions, distractions and more distractions: What really matters by Malcolm Out Loud (VIDEO)
Distractions, distractions and more distractions: What really matters Malcolm questions Gay marriage or the mosque controversy, does it matter? Isn't it all about the economy? Read the Malcolm Out Loud Brink Thinking Blog: http://www.malcolmoutloud.com/blog.php/ Watch episodes of Malcolm Out Loud TV: [...]
Bernanke says Fed to act if needed
(Reuters) - U.S. Federal Reserve Chairman Ben Bernanke said on Friday the economic recovery has weakened more than expected and the Fed stands ready to act if needed to spur slowing growth. Bernanke downplayed concerns that the economy might slip back into recession, predicting a modest expansion in the second half of this year, with the pace [...]
U.S. Warfare Boosted Q2 GDP Massively
Earlier we highlighted how over half of Q2's 1.6% GDP growth could be explained by government spending. The government contributed +0.86% to the Q2 figure based on data from the Bureau of Economic Analysis (BEA). You can see how Q2 GDP growth was unusually reliant on government spending here. As a follow up to that post, we've now broken out [...]
Mullen: Debt is top national security threat
(CNN) -- The national debt is bad for the military, Joint Chiefs of Staff Chairman Adm. Michael Mullen is telling business men and women and others on a three-day "Conversations with the Country" tour across the Midwest. Mullen's trip, which ends Friday in Cleveland, Ohio, is aimed at encouraging business owners to hire veterans. "The most [...]
Bernanke may nod to weaker outlook, omit details
Aug 27 (Reuters) - Federal Reserve Chairman Ben Bernanke will have to address a number of pressing issues in a speech on Friday as investors search for more clarity on how close the U.S. central bank might be to another asset-buying spree to support the flagging recovery. Bernanke will also likely touch on fears of waning economic momentum as [...]
States are out of cash, and so are their lending programs
Many state programs that help small businesses get loans they need to survive or expand are in jeopardy, victims of the economic downturn and state budget gaps. The programs -- in dozens of states from Vermont to California -- cost relatively little to run, are remarkably successful and create jobs. Massachusetts' program has been [...]
Jobless claims rise again. Unexpectedly?
This is the fourth increase in jobless claims in the last 5 weeks. WASHINGTON — New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are likely cutting jobs again as the economy slows. The Labor Department said Thursday that initial claims for [...]
