The chatter around the blogosphere right now is about this: Greg Sargent, blogging from his new digs, notes this: Update: NRCC spokesperson Ken Spain sends over a response: “The site is currently under construction. We are looking forward to relaunching the site and fostering a discussion on how Nancy Pelosi and her Democratic colleagues’ proposal […]
Bush’s legacy keeps on building: The nation’s unemployment rate bolted to 7.2 percent in December, the highest level in 16 years, as nervous employers slashed 524,000 jobs, capping one of the worst years in modern history for American workers. But those are just the unemployed. Let’s not forget those who are still working, but have […]
Compliments of the fed: The Federal Reserve entered a new era on Tuesday, setting its benchmark interest rate so low that it will have to reach for new and untested tools in fighting both the recession and downward pressure on consumer prices. Going further than analysts anticipated, the central bank said it had cut its […]
I’m sure everyone has heard about this by now: On the chilly factory floor of the Republic Windows and Doors plant, Apolinar Cabrera and a couple hundred workers have decided to make their stand. Their jobs evaporated Friday when this Chicago company unexpectedly closed its doors, blaming lender Bank of America for cutting off its […]
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 […]
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 […]
I would love to see Obama approach Paul Krugman, a Nobel Peace Prize recipient in economy, and offer him an advisory position to the administration. Here’s part of Krugman’s latest: Right now, many commentators are urging Mr. Obama to think small. Some make the case on political grounds: America, they say, is still a conservative […]
Bush has hit a new low in the approval ratings game – 19%. Even worse is the American view on the economy. Bush’s Handling Of The Economy: Approve – 17% Disapprove – 76% National Economy: Getting Worse – 82% Getting Better – 0% 68% say the economy is in recession. 64% rate the economy as […]