The economy sheds 533,000 jobs in November, the worse in 34 years: The report from the Labor Department is sure to raise fresh concerns about the depth and length of an ongoing recession, and could figure into hearings on Capitol Hill today about a proposed bailout of the Big Three Detroit automakers. The unemployment rate […]
That’s what California is working towards: Recently the cities of San Francisco, San Jose and Oakland unveiled a massive concerted effort to become the electric vehicle capitol of the United States! This groundbreaking development heralds a nine-step plan that includes everything from buying fully electric vehicles for all government transportation to expediting the approval of […]
With all these bailouts going on, we keep hearing how these companies are “too big to fail”. Does that mean we should now look at breaking up these mammoth sized corporations? Then we would be left with a bunch of smaller corporations, and if one of those fails it won’t send a catastrophic tidal wave […]
Bob caught Chuck Todd saying this today: “You guys [Team Obama] own the economy at 12 o’clock eastern time today, correct? When Senator Obama announces his Treasury Secretary, announces the Larry Summers position. It is now Barack Obama’s responsibility on the economy, is that not correct?” So the Constitution says “the President shall take office […]
Some troubling numbers from Rasmussen: The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell four more points on Saturday to once again reach an all-time low. At 60.1, the Index is down three points from yesterday, down fourteen points from a month ago and down thirty-nine points from […]
I really don’t know what to take away from this: The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah reported Thursday. Quoting “highly informed” sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the […]
It seems like the hands opening up for the free government money, aka the bailout, are increasing faster than our unemployment numbers. Now the insurance companies are lining up for their Christmas gifts: Several insurers, including Hartford Financial Services Group and Genworth Financial Inc., made last-minute bids for billions of dollars in government money Friday. […]
You know the economy is getting bad when Hormel can’t produce Spam quick enough: The economy is in tatters and, for millions of people, the future is uncertain. But for some employees at the Hormel Foods Corporation plant here, times have never been better. They are working at a furious pace and piling up all […]
The economic hits keep on coming: Retail sales plunged by the largest amount on record in October as the financial crisis and the slumping economy caused consumers to sharply cut back on their spending. The Commerce Department said Friday that retail sales fell by 2.8 percent last month, surpassing the old mark of a 2.65 […]