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U.S. Financial Crash Dead Ahead

Back when I started Boom2Bust around Memorial Day Weekend 2007, there weren’t too many voices out there warning about a coming U.S. financial crash— let alone a financial crisis. Despite this, whether armchair economist or Wall Street analyst, there was one thing pretty much all of us had in common...

Posted to Economics on 01-06-2010
Filed under: Housing, Federal Reserve, Obama Administration, U.S. Government, Central Banks, Dollar, Economy, Depression, housing bubble, Politicians, Crime, Financial Sector, deregulation, Currencies, Debt, Derivatives, Wall Street, Guns, Crash Prophets, Ben Bernanke, Joseph Stiglitz, Bubbles, Survivalism, reserve currency, Fed, financial system, Jeremy Grantham, Wall Street bonuses, Marc Faber, Hedge Funds, monetization, Nassim Taleb, Robert Shiller, national debt, lobbyists, Re-Regulation, federal debt, wealth destruction, Hegemony, bankers, George Soros, Henry Kaufman, Niall Ferguson, dot com bust, capitalism-without-morals, Simon Johnson, great depression 2, shadow banking system, pollyannas, next great depression, Wall Street crime, irrational exuberance, Jared Diamond, credit meltdown, Barton Biggs, financial bubbles

Is Washington Completely Out Of Touch With Main Street?

I’ve got an idea the following Huffington Post piece might very well describe how a number of Americans feel right now about our elected officials in Washington. From Post contributor Don McNay last night: Can you hear me calling you? -Mike and The Mechanics Mark Twain said that when he died he wanted...

Posted to Economics on 11-25-2009
Filed under: Economic policy, Recession, Housing, Obama Administration, U.S. Government, U.S. Treasury Dept., Economy, Employment, Depression, Unemployment, Politicians, Main Street, State Government, Local Government, Democrats, Political Parties, Wall Street, Advisers, President Bush, Timothy Geithner, Ben Bernanke, Republicans, Bureaucracy, Alan Greenspan, Henry Paulson, 2008 Election, Lawrence Summers, Warren Buffett, Republican Party, Democratic Party, Social Unrest, Sherrod Brown, partisanship, Obama advisers, Washington housing, Larry Summers

Broader Measure Of Unemployment Hits 16.5% In June

Earlier today, the Labor Department announced the U.S. unemployment rate rose to 9.5%, a 26-year high. Nonfarm payrolls shrank by 467,000. Could America’s labor woes possibly be any worse? You bet. This morning, Phil Izzo of the Wall Street Journal’s “Real Time Economics” blog wrote: As job losses accelerated...

Posted to Economics on 07-03-2009
Filed under: Economy, Great Depression, Employment, Depression, Unemployment, job losses, labor market, Economic Indicators, U.S. Department of Labor, unemployment rate, job market, job seekers, long-term unemployed, broader jobless rate, broad jobless rate, official unemployment rate, U-6, headline unemployment numbered, Department of Labor

Robert Prechter Sees Stock Plunge, Deflationary Depression

If Marc Faber’s prediction that the U.S. government will go bust didn’t start your weekend off on a positive note, how about Robert Prechter’s forecast that U.S. stocks will plummet in advance of a deflationary depression? From Reuters (UK) yesterday: Longtime technical analyst Robert Prechter, who forecast...

Posted to Economics on 05-16-2009
Filed under: Financial markets, U.S. Government, Economy, Depression, Stocks, U.S. stocks, Banking Crisis, Deflation, Treasuries, Bonds, Energy, Commodities, Crash Prophets, crude oil, Oil, company earnings, Standard & Poor's 500, robert prechter, S&P 500, Treasury bills, US government bonds, bear market, US Treasury bonds, deflationary depression, Corporate Earnings, corporate bonds