Yesterday the 2nd U.S. Circuit Court of Appeals in New York demonstrated why prosecuting banks for committing fraud in the lead-up to the Great Recession is such a difficult proposition....
From The Great Recession Blog by David Haggith This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve tried...Show More Summary
Ever since the Great Recession, central bankers around the world have been deploying ultra-low interest rates policies to revive global economic growth. Some central banks have gone too far, pushing official interest rates below zero (e.g., ECB and Bank of Japan). Initially, these policies had some success, helping the global economy grow [...]
Why didn't any high-level bankers go to jail over fraudulent business practices during the lead-up to and aftermath of the Great Recession? That's the question on the lips of...
Published originally on The Great Recession Blog by David Haggith I have pointed out in previous articles how most of the growth in stocks over the past few years has been due to stock share buybacks. Without this hideous (and at one time illegal) practice, there would have been no bull market over the last few years. That’s right. Show More Summary
Not according to many Americans -- especially those on the less-wealthy end of the spectrum, where times are still tough
Three theories as to why financial instability didn’t slow down food obsessives The nation-wide migraine that was the Great Recession caused over eight million job losses between 2007 and 2009, according to the Bureau of Labor Statistics. Show More Summary
For Caterpillar, the great recession was bad, for about 19 months. In May 2010, after declining sharply for just under two years, CAT posted it first positive global retail sales comps and never looked back... until December 2012 when comp sales once again turned negative and have been negative ever since. Show More Summary
At The Intercept, David Dayen writes that the same foreclosure fraud that was a lynchpin of bank behavior leading up to the Great Recession continues to happen even now. My new book, Chain of Title: How Three Ordinary Americans Uncovered...Show More Summary
The familiar chart below illustrates the depth of the decline in real output during the 2007-09 Great Recession (the shaded period), and the failure of the recovery to return real output to its “potential” path (in other words, to eliminate the estimated “output gap”) during the subsequent years up to the present day. Show More Summary
If you want to make a case that Donald Trump can win the presidency in November without huge "black swan" events like another 9/11 or Great Recession, and you don't buy dumb polls suggesting Trump's actually very popular among Latinos, then you are driven to one of two intersecting theories. ... More »
WASHINGTON — African-Americans are doing about the same as they have in previous years as the nation rises out of the Great Recession, and much better than they did when its first "State of Black America" report came out 40 years ago, the National Urban League said Tuesday. Show More Summary
Shutterstock The New York Times editorial board released a depressing report recently on the bleak job prospects high school students graduating this year are facing, a result the newspaper team traces back to consistent failures onShow More Summary
Books about ordinary people triumphing over big institutional corruption? Worth reading. In the depths of the Great Recession, a cancer nurse, a car dealership worker, and an insurance fraud specialist helped uncover the largest consumer crime in American history—a scandal that implicated dozens of major executives on Wall Street. Show More Summary
After a volatile start to the year, the parade of first-quarter earnings this past month was supposed to give us an indication of how the technology industry is faring, so here is the main take away so far: There is Facebook and Amazon,...Show More Summary
The city that boomed most before the Great Recession - and then fell the furthest - believes its back in business.
Above the Law, The Future Is ‘Bleak’ For Law Students And Law School Graduates: Legal education has been getting bad press since the start of the Great Recession, and perhaps for good reason. While tuition skyrocketed, often leaving graduates with six-figure debt loads, quality job prospects seemingly disappeared. The jobs...
Wage growth since the Great Recession has remained fairly low, hovering around just 2%. This is most likely not high enough to support the Fed's stated inflation target of 2% year-over-year. Over the past few months, wage growth has happened at a somewhat faster rate than this, reaching a postcrisis high of 2.5% in December and January. Show More Summary
During the Great Recession, tens of thousands of residents in Los Angeles County fell into poverty, and thousands more became homeless and went hungry. Simultaneously, the public sector was forced to reduce funding for many human services. It's now apparent that philanthropic giving also declined,...
from The Great Recession Blog by David Haggith Establishment Republicans have a plan to help workers because they hear you after all the clamor that has formed around Donald Trump. That is how they bill it anyway — a plan to help laborers. Show More Summary