The U.S. Recovery Has Been Spectacular*

We need a real recovery. That's what Mitt Romney said during the campaign, and he was right.

Five years since the start of the Great Recession, unemployment is still far too high. It's not for a lack of optimism among policymakers.

As Evan Soltas pointed out, the Federal Reserve keeps predicting that prosperity is just around the corner, only to find it's not. Catchup growth is the new Godot.

FULL STORY

*Compared to almost every other rich country and almost every other financial crisis.

A decade of slow growth?

By Fareed Zakaria From: Cnn.com: Every year at Davos, people like me try to get a sense of the mood of the place, take the temperature of people in this frosty mountain resort. Obviously, I will give you a highly impressionistic and personal picture, but it’s one I find useful since Davos does bring together leaders in government, business, media – even the NGO community – from all corners of the world. It is genuinely global in a way that few conferences are... FULL STORY

Bloomberg: The Fiscal Cliff Will Drive the U.S. Into Recession

House Speaker John Boehner says he was "flabbergasted" when Treasury Secretary Tim Geithner pitched the White House plan to save the nation from the "fiscal cliff." FULL STORY

6 Ways The Fiscal Cliff Could Affect You

Federal Reserve chairman Ben Bernanke used the term "fiscal cliff," it quickly became the newest Washington buzzphrase. As the deadline to avert the cliff nears, it has overtaken the European debt crisis as the most talked-about story in the financial media. The fiscal cliff refers to the enactment of a number of laws that would, if not changed before Jan. 1, 2013, FULL STORY

Fiscal cliff would drive the U.S. economy back into recession.

Fiscal cliff would drive the U.S. economy back into recession before end of 2013, a new report from the Congressional Budget Office said. Congressional Budget Office released a report showing that the most harmful consequences of the fiscal cliff, a fully armed and operational fiscal cliff would cost us 3.4 million jobs. Obama Fiscal Cliff Deal Risks Brush With Recession

$40 BILLION QUESTION: Who Picks Up The Mortgage Settlement Tab?

The Obama administration says it's the banks. Mortgage investors worry it will be them. Taxpayers fear they'll have to pony up...

Source: http://www.huffingtonpost.com

Killer Charles Manson: “Obama Slave of Wall Street..”

President Barack Obama is "a slave of Wall Street," the diminutive cult leader said by telephone..

Source: http://latimesblogs.latimes.com

What Happens If Steve Jobs Leaves?

Yesterday, it was announced that Apple does indeed have a succession plan, but it won't be made public, for fear that the company could see executives being..

Source: www.benzinga.com

Poll Has Obama at New Low for Handling Economy

President Obama earned his lowest marks ever on his handling of the economy....

Goldman Sachs reveals where bailout cash went

Goldman Sachs sent $4.3 billion in federal tax money to 32 entities...

Dow Repeats Great Depression Pattern

The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression..

AIG: Death threats,angry letters flood e-mail inboxes. Irate callers, Senior managers submit resignations, employees don't show up at all

The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk...

Read more AIG bonus bashing.....

Source: www.examiner.com

Wall Street's allure may be gone for good

Wall Street's fat cats are in the public's doghouse, and it could be a long time -- if ever -- before the eye-popping paychecks and glamour of the last two decades return.

Americans have long tolerated Wall Street's big bonuses, bigger egos and outsized influence because the firms and their executives at least made lots of money. Now, those days are over….

Read more Wall Street's allure gone?


Source: reuters

Wall Street looks to '09 with relief after terrible '08

The last trading day of 2008 on Wall Street provided a merciful end to an abysmal year _ the worst since the Great Depression of the 1930s, wiping out $6.9 trillion in stock market wealth. Six years of stock gains disappeared as the...

Read more Wall Street looks to '09

Source: the economic times

Wall Street rebounds sharply after big drop

Investors wary about the economy drew solace from Ford Motor Co. Chief Executive Alan Mulally, who said the automaker has enough cash to make it through 2009 and might not need government help. Rival General Motors Corp. said late in the day that it needs $12 billion in government loans to continue operating; the news briefly shook the market, but stocks rebounded before the close....

Read more Wall Street rebounds


Source: the times of india