The Great Recession has given us so much since it began five years ago with the fall of Lehman Brothers and Washington Mutual, from underwater mortgages and high unemployment, to bailouts of the financial and automotive manufacturing sectors and credit freezes. Regarding the last item, a byproduct from said freeze will flood automakers with the […]
Speaking of the Dallas Fed, here are two figures from a report documenting how slow this recovery has been relative to the recovery from past recessions:
On America's day most famous for over-consumption, we thought a few minutes of quiet 'tryptophan-induced' contemplation of the state of our world would be useful. Infamous for his correct predictions of the great recession, Europe's demise, and the collapse of the US financial system (as well as profiting handsomely from being right), Dr. Show More Summary
We’ve read over and over that the great recession is behind us, although evidence of human suffering abounds. This is not a new phenomenon, and it was ably described a lifetime ago by Eugene V. Debs: It is easy enough for a gentleman of education and refinement to sit at his typewriter and point out the crimes of the workers. Show More Summary
When Congress returns from its recess next week, unfinished fiscal year 2008 education funding legislation will be high on the agenda. Fiscal year 2008 began on October 1 and funding subject to appropriations for the fiscal year has been provided on a continuing resolution that ends December 14th. Show More Summary
Unemployment has remained stubbornly high during the recovery that has followed the Great Recession. This high unemployment, as we noted above, is a fundamental concern of the incoming chief of the Federal Reserve, to the point wher...
(WASHINGTON) — U.S. banks earned less in the July-September quarter than they did a year earlier, marking the first year-over-year decline in earnings since the spring of 2009 when the country was still mired in the Great Recession. The Federal Deposit Insurance Corp. Show More Summary
Peter Van Doren An article on page 1 of Thursday’s Wall Street Journal describes the financial problems faced by some private infrastructure owners because of reduced demand from the Great Recession. The story features the Foley Beach Express bridge in Alabama built as a toll concession in the early 2000s. Show More Summary
Six years after the start of the Great Recession, there should be little disagreement what America's number one domestic priority should be. With unemployment still stuck around 7 percent four plus years after that recession was declared "over," creating jobs has to be Job #1. Show More Summary
By Tom Lindmark: Since 2008, the mostly agreed upon date for the onset of the Great Recession, lots of responses to the crisis have occurred. Stimulus came and went, Dodd Frank passed, the Volker rule was enacted yet not to date implemented,...Show More Summary
This week in our time capsule round-up we have a new time capsule vault in Massachusetts, an "evidence packet" submitted into capsule evidence in Iowa, and some Great Recession artifacts in Florida sure to bum out the good people of tomorrow. Read more...
Nobody in Washington talks much about the poor in America these days, even though they are more and more with us in the economic aftermath of the Great Recession.
I recently received the following email: Hi Scott, Quick question. Hypothetically, if it were possible for central banks to cut rates below 0%, do you think we would have still experienced the Great Recession? I’m not saying central banks can’t do that, I’m just imagining a hypothetical universe where it was a lot easier to [...]
While state revenue is looking a little bit better than it did during the bottom of the Great Recession, it could be rising a lot faster. As Schmudget points out: As Washington state tax revenues continue their slow rebound from the Great Recession, profits from the sale of corporate stocks are breaching all-time highs. Show More Summary
The Great Recession and the changing global economic landscape have forced U.S. leadership to reassess its relationships with foreign markets and companies. SelectUSA, a federal program that promotes U.S. inbound FDI (foreign direct investment) since 2010, launched its first ever SelectUSA Global Investment Summit earlier this month. Show More Summary
An enduring legacy of the Great Recession has been the return to a profound sense of family. This was evident in polls throughout the downturn. Yet no one really knew if the feeling would stick in a recovery. Now four years into an expansion,...Show More Summary
WASHINGTON -- A top Federal Reserve official said Monday he was "getting more hopeful" about the economic recovery and declared the private sector nearly healed from the Great Recession.
We made it through the darkest hour and have begun to see the light of dawn. The Great Recession that reduced the Dow (INDEXDJX:.DJI) to 6 547.05 points dropped the value of all US stocks from $22 trillion to $9 trillion and in the words of Warren Buffett took our economy "off a cliff " is now an arm's length behind us. Show More Summary
Japan Is Being Destroyed By Criminal Corporate Cronyism (Like the Rest of the World) Tepco’s criminal actions have worsened the Fukushima disaster: Engineers warned Tepco and the Japanese government many years before the accident that the reactors were seismically unsafe … and that an earthquake could wipe them out. For example, the team of engineers...Read More
Olivier Coibion, Yuriy Gorodnichenko, 15 November 2013 During the Great Recession, advanced economies have not experienced the disinflation that has historically been associated with high unemployment. This column shows that using consumers