economy

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Let's Face It: It's a Depression
 Let's Face It: It's a Depression 
Paul krugman
Jun 28, 2010 8:21 AM CDT

Let's Face It: It's a Depression

Savage cuts when governments should be spending will prove the fatal blow

(Newser) - Paul Krugman uses the D word today, arguing that we're now in the early stages of a third depression. It may turn out to be more like the Long Depression of the 19th century than the dreaded Great Depression, but that's not going to offer much succor to the legions...

We're Heading for Recession
 We're Heading for Recession 
opinion
Jun 26, 2010 5:09 PM CDT

We're Heading for Recession

Weak growth and tax increases doom us

(Newser) - John Mauldin takes a lengthy look at a slew of economic factors at Business Insider and reaches a somber conclusion: Odds are now better than even that the US will slip into a rare double-dip recession next year. Growth is anemic, with little hope for a turnaround in sight, and...

It's the Anti-Stimulus We Should Be Worried About

State budget cuts are wiping out the effects of the stimulus

(Newser) - The success of the Obama stimulus in creating jobs has been broadly, and furiously, debated—and will continue to be as the election season nears. But Ezra Klein argues today that in the end it's the "anti-stimulus"—the massive constriction of state budgets—that will decide our economic...

Dr. Doom: Europe on Path to Recession

And America might 'run into the wall'

(Newser) - Dr. Doom isn't happy with what he sees happening in Europe, which the NYU economist (real name Nouriel Roubini) says is on the path to recession or something very much like it. Some interview highlights, as reported by Reuters and Bloomberg :
  • In the euro zone, "growth will fall toward
...

US Economy Needs Less Caution, More Spending
US Economy Needs Less Caution, More Spending
Paul Krugman
May 21, 2010 11:34 AM CDT

US Economy Needs Less Caution, More Spending

Forget deficit; fret over threat of 'lost decade'

(Newser) - No matter what you've heard panicked commentators say, the US is not the next Greece, and the government is not trying to do or spend too much in the face of the slumping economy. In reality, Washington isn't doing or spending enough, and as a result, the US could be...

America's 40% Overpriced
 America's 40% Overpriced 
OPINION
May 12, 2010 1:56 PM CDT

America's 40% Overpriced

Take in some discount movies, you'll understand

(Newser) - Joe Queenan has figured out the real problem with the US economy: It's overpriced. Queenan came to this revelation after he and his buddies made a habit of going to see movies on Tuesday nights, when they only cost $6 instead of $10.25. At that price, even bombs like...

Job Creation Up, but So Is Jobless Rate

Unemployment at 9.9% as job seekers re-enter market

(Newser) - Employers stepped up job creation in April, expanding payrolls by 290,000, the most in four years, the AP reports. The jobless rate also rose, to 9.9%, as people resumed their searches for work. The hiring of 66,000 temporary government workers to conduct the census helped overall payroll...

Once Again, We're Spending More, Saving Less

Spending rose twice as much as income in March

(Newser) - Well, that didn’t take long: Americans are back to spending more and saving less. While personal income rose 0.3% in March, spending rose at twice that rate, Business Insider reports. Personal savings, on the other hand, slipped that same 0.3% from 3% of income in February to...

Economy Expands at 3.2% Clip as Spending Rebounds

Consumer spending drives growth for third straight month

(Newser) - The economy grew at a solid 3.2% pace during the first quarter of this year as consumers boosted their spending by the most in three years. It marked the third straight quarterly gain, providing more hope that a recovery is in progress. Still, growth came in a tad shy...

Spendthrift Generation Y: Screwed and Oblivious
Spendthrift Generation Y:
Screwed and Oblivious
What economy?
Apr 23, 2010 1:50 PM CDT

Spendthrift Generation Y: Screwed and Oblivious

Lost generation doesn't realize it's a loser

(Newser) - Economically, things are very, very bad for Generation Y, but the hipster cohort doesn't seem to have noticed. A whopping 37% of 18-to-29-year-olds are underemployed, the worst figure any age group has seen in over 30 years. Nearly 70% aren't building up a cash cushion, and they're drowning in credit...

Texas Thrives, Thanks to Regulation and ... Windmills?

An unexpected tale of economic success

(Newser) - Don't look now, but Texas's economy is in pretty great shape, and it's all thanks to alternative energy and regulation. Strange but true. Daniel Gross of Slate breaks down the reasons things are bigger in Texas:
  • The housing market hasn't utterly imploded like the rest of the nation's—prices are
...

Motto for Our Era: Don't Blame Me
Motto for Our Era:
Don't Blame Me
Frank Rich
Apr 11, 2010 11:32 AM CDT

Motto for Our Era: Don't Blame Me

Responsibility is a 'forgotten value,' says Frank Rich

(Newser) - Watching Alan Greenspan's don't-blame-me testimony on Capitol Hill leads Frank Rich to pronounce that "we live in a culture where accountability and responsibility are forgotten values." It's always somebody else's fault. This goes beyond the financial sector, with hollow apologies and obfuscations cropping up everywhere from the Vatican...

Greenspan: We Did 'the Best We Could'

Former Fed chief takes heat on Capitol Hill

(Newser) - Alan Greenspan is taking more heat on Capitol Hill today as a three-day series of hearings begins on the economic meltdown. “What we tried to do was the best we could with the data that we had,” the former Fed chief told the Financial Crisis Inquiry Commission. “...

Obama Starting to Take Blame for Economy
Obama Starting to Take Blame for Economy
Poll Numbers
Apr 1, 2010 2:35 PM CDT

Obama Starting to Take Blame for Economy

More fault him, and 50% say he doesn't deserve re-election

(Newser) - Barack Obama’s health care victory doesn't seem to have helped him with voters struggling in the recession. (The president isn't much bothered by the early polls.) In a new USA Today/Gallup poll, roughly 50% said Obama deserved at least some blame for the economy, with 26% saying he...

Boom in Skin Care Sales Signals Economic Rebound
Boom in Skin Care Sales Signals Economic Rebound
green shoots
Mar 23, 2010 1:38 PM CDT

Boom in Skin Care Sales Signals Economic Rebound

This from today's 'bizarre correlations' department

(Newser) - Turns out skin care is an economic bellwether—so you should be happy to hear that sales are picking up. Women were slow to skimp on, say, moisturizer even as sales of makeup and perfume declined, but in 2009 skin care sales finally fell by 4%, according to new research....

5 Myths About Health Bill Passage
 5 Myths About 
 Health Bill Passage 
analysis
Mar 21, 2010 4:08 PM CDT

5 Myths About Health Bill Passage

Americans aren't undecided, and the public option was DOA: Cillizza

(Newser) - With health care reform seemingly headed for passage now that Bart Stupak's on board, Chris Cillizza looks back at the debate and finds five persistent arguments with little or no grounding in reality.
  • Scott Brown was a game-changer: "Yes and no," Cillizza writes for the Washington Post . Lacking
...

Obama's Economics Are Working
 Obama's 
 Economics 
 Are Working 
analysis
Mar 10, 2010 1:11 PM CST

Obama's Economics Are Working

Ignore the political crowd, the president's been great for business

(Newser) - President Obama doesn't get much political credit for it, but the numbers show his economic policies have been a resounding success. Since he took office, the S&P 500 is up 41%, credit spreads have narrowed, commodity prices have surged, and housing prices have stabilized, writes Mike Dorning of Bloomberg...

Virtual Business Yields Real Profits

Second Life hosts $567M economy

(Newser) - The real economy is mired in recession, but on sites like Second Life, the virtual economy's booming. Thanks to opportunities for entrepreneurs in everything from hats to land, user-to-user transactions totaled to over $567 million in real dollars last year. "The barriers to entry are really, really low for...

Unemployment Holds at 9.7%
 Unemployment Holds at 9.7% 
Mar 5, 2010 8:18 AM CST

Unemployment Holds at 9.7%

Employers shed 36,000 jobs, fewer than expected

(Newser) - The unemployment rate held at 9.7% in February as employers shed fewer jobs than expected. The Labor Department said employers cut 36,000 jobs, below analysts' estimates of 50,000. They had predicted the jobless rate would rise to 9.8%. The severe snowstorms that hammered the East Coast...

Brace Yourself, $3 Gas Is Coming Back
Brace Yourself, $3 Gas
Is Coming Back 
Analysis
Mar 2, 2010 1:46 PM CST

Brace Yourself, $3 Gas Is Coming Back

Average national price climbs, even though driving is down

(Newser) - Remember the good old days when gas was over $3? Well, get ready for some déjà vu. The average national price of a gallon climbed 4.7 cents last week alone, to $2.702, continuing a trend that saw it rise 76.8 cents over the past year, while...

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