Unemployment up, job creation slows
In the sometimes bizarro world of Wall Street, bad economic news like this sometimes triggers a market rally because gosh, all the bad news must be out now and / or this means the Fed has to cut rates. But…
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Politics in the Zeros
"A republic, if you can keep it." Vegas, taxes.
Category Credit crisis
Traders, Guns & Money
Traders, Guns & Money: Knowns and unknowns in the dazzling world of derivatives, by Satyajit Das Written in 2006, just before the current credit collapse, Traders Guns and Money details how the bizarre world of financial derivatives works – and…
Mortgage crisis affects states and cities nationwide
Property tax collection and sales tax revenue is down nationwide, a direct result of the housing collapse. Even municipalities that assumed a slowdown was coming were unprepared by the size of it. Budgets will be slashed, projects won’t be funded.…
Does capitalism need a dose of socialism?
Occasionally, however, capitalism requires a good dose of diluted socialism to keep it kicking, and the capitalist elite may well be hankering for a bit of socialist economics to straighten out the neoliberal disaster engineered by ideologues with fanciful derivatives…
Home sales drop 9% to 12 year low
This worsening housing recession, together with the worst liquidity and credit crunch in the last 20 years, oil close to $100, faltering capex spending by the corporate sector and a saving-less and debt-burdened consumer that is on the ropes and…