Bob Cesca has posted the following chart, showing how the share of income labor sees is at a historic low: What’s interesting is how much the share dipped during the Bush years. During Clinton’s term, the rate was on the rise, after a substantial fall during the Reagan and Bush 41 years. So what does […]
Today is d-day, as in debt: The U.S. government is expected to hit the $14.294 trillion debt ceiling Monday, setting in motion an uncertain, 11-week political scramble to avoid a default. The Treasury Department plans to announce Monday it will stop issuing and reinvesting government securities in certain government pension plans, part of a series […]
It certainly isn’t if you have CEO behind your name and you work for a big corporation: Compensation received by chief executives of the biggest US companies surged 11 percent over the past 12 months — to $9.3 million on average, The Wall Street Journal reported. Citing a study conducted for the newspaper by management […]
A couple of weeks ago I posted one of the most depressing headlines I had seen in years: McDonald’s aims to fill 50,000 jobs in a day What made this so depressing is the rate at which this news item grew. Our job market has reached a point that people are excited over McDonald’s hiring. […]
The nation’s largest private employer is seeing troubling times: Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried, CEO Mike Duke said Wednesday. “We’re seeing core consumers under a lot of pressure,” Duke said at an event in New […]
Suddenly the right is upset that the dollar has taken a big decline, but Barry Ritholtz states the facts, something the right seems unable to comprehend: Where were all you concerned dollar bulls earlier in the decade? It strikes me that like the late-to-discover inflation, you folks cannot spot a trend until it bites you […]
Yesterday, while speaking at a college in Virginia, President Obama laid the blame of high oil prices at the feet of speculators: Obama said that global oil supply is adequate and that speculators are driving up prices significantly. “It is true that a lot of what’s driving oil prices up right now is not the […]
One of the big economic headlines today is this: McDonald’s aims to fill 50,000 jobs in a day That’s right – with billions and billions served, the fast food king needs more people to slop out the burgers. In all honesty, this is a really depressing headline. I’m sure a large number of those applicants […]
In an interview with ABC, President Obama gave his views of opening the U.S. oil reserves to combat high oil prices: “We are monitoring the situation very closely. The strategic petroleum reserve was designed for when oil actually shuts off,” Obama told ABC. “The reserves, I think, are something that we’ve got to be very […]
Wells Fargo received $25 billion from the George Bush TARP program. One of Wells Fargo’s biggest problems was the acquisition of Wachovia in December of 2008. Wachovia came with a whole slew of problems, but probably none bigger than this: On 10 April 2006, a DC-9 jet landed in the port city of Ciudad del […]