Category: Recession 2008 - 2010
The analysis published under this category are as follows.
Thursday, February 12, 2009
Worst Recession In 100 Years / Economics / Recession 2008 - 2010
By: Mike_Shedlock
In the UK, Gordon Brown's closest ally says 'This is the worst recession for over 100 years' . Ed Balls, the PM's closest ally, warns that downturn is ferocious and says impact will last 15 years.
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Wednesday, February 11, 2009
UK Economic Meltdown Continues Towards Price Deflation / Economics / Recession 2008 - 2010
By: Nadeem_Walayat
The Bank of England's quarterly inflation report forecast UK inflation of just 0.5% in 2 years time, with the UK economy now forecast to have fallen by GDP 4% by the middle of this year. It was not so many months ago that the Bank of England was forecasting growth of 2% for 2009.Read full article... Read full article...
Sunday, February 08, 2009
Employment Cycles During Recessions / Economics / Recession 2008 - 2010
By: Mike_Shedlock
House Speaker Nancy Pelosi's blog has an interesting graph of What 3.6 Million Jobs Lost Over 13 Months Looks Like .
This chart compares the job loss so far in this recession to job losses in the 1990-1991 recession and the 2001 recession – showing how dramatic and unprecedented the job loss over the last 13 months has been. Over the last 13 months, our economy has lost a total of 3.6 million jobs – and continuing job losses in the next few months are predicted. Read full article... Read full article...
Sunday, February 08, 2009
Emerging Markets Crumbling as Decoupling Theory Proved Wrong / Economics / Recession 2008 - 2010
By: Prieur_du_Plessis
Asha Bangalore (Northern Trust): Significant reduction in consumer spending “The reduction in consumer spending in the past few months is noteworthy not only because it has declined in six out of the last seven, but at the same time the savings rate has increased rapidly in an environment when income is not advancing rapidly.
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Saturday, February 07, 2009
Is Zombie Economicus Coming? / Economics / Recession 2008 - 2010
By: Submissions
Vladimer Papava writes: Under the circumstances of the modern global financial crisis, the problem of economy zombieing has become a very topical one. If in the 1990s the theme of zombieing was basically discussed within the context of the Japanese economy alone, this problem has also extended to the US and European economies today ( Jim Willie CB, 2008. U.S. Economy Disintegrating as Government Supports Zombie Banks. The Market Oracle , December 04 ; Jim Willie CB, 2009. Gold, Zombie Banking System, Lightning, Earthquakes and Hurricanes. The Market Oracle , January 20). Read full article... Read full article...
Friday, February 06, 2009
U.S. Jobs Contract 13th Straight Month; Unemployment Rate Soars to 7.6% / Economics / Recession 2008 - 2010
By: Mike_Shedlock
This morning, the Bureau of Labor Statistics (BLS) released the January Employment Report . Nonfarm payroll employment fell sharply in January (-598,000) and the unemployment rate rose from 7.2 to 7.6 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Payroll employment has declined by 3.6 million since the start of the recession in December 2007; about one-half of this decline occurred in the past 3 months. In January, job losses were large and widespread across nearly all major industry sectors. Read full article... Read full article...
Thursday, February 05, 2009
Davos Economists: Dumb and Dumber Save the Global Economy / Economics / Recession 2008 - 2010
By: Tim_Iacono
[The following conversation between two top U.S. economists was recently overheard at the World Economic Forum in Davos, Switzerland. For obvious reasons, their names have been withheld - they will be referred to here as Lloyd and Harry.]
Two economists hatch a plan to save the global economy...
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Thursday, February 05, 2009
Economic Implosion in Canada and Ireland as Workers Revolt / Economics / Recession 2008 - 2010
By: Mike_Shedlock
Inquiring minds are noting similarities between the implosion in Ireland and the implosion in California. Let's take a look starting with In Ireland, "the game is up"
DUBLIN — At 2 a.m., with time for compromise running out, the Irish prime minister finally presented his emergency plan for the floundering economy to the country's trade union leaders.
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Tuesday, February 03, 2009
How to Create 4 Million Jobs in 90 Days / Politics / Recession 2008 - 2010
By: Ronald_R_Cooke
Lost Jobs - At least 23 million Americans are either unemployed (they do not have any job) or under-employed (they are being paid for less than 35 hours per week). If unemployment increases to 10% of the workforce by the end of 2010, then 15,434,900 people will be unemployed. In this 2 year period, America will have lost more than 4.4 million additional jobs. America's Work Shortage Index (WSI) will increase from a total of 23,487,000 unemployed or under-employed persons at the end of 2008, to a Work Shortage Index of more than 21.9% by the end of 2010. Over 33.5 million Americans would be forced to sharply curtail their spending. Over 27% of all American households would be in financial trouble. (Reference 1) Read full article... Read full article...
Tuesday, February 03, 2009
UK Heading for Worst Recession Since World War2 / Economics / Recession 2008 - 2010
By: MoneyWeek
What makes this recession so different?
2009 is turning into a record-breaking year – and we're only just into February.
We're facing the worst recession since the Second World War and now we've been landed with the heaviest snowfall since the last recession in 1991.
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Monday, February 02, 2009
Stock Markets Log Worst January Ever! / Stock-Markets / Recession 2008 - 2010
By: PaddyPowerTrader
US markets finished the week very much on the back foot. Disappointing earnings from P&G, Allstate & Caterpillar trailed analysts estimates while the entrails of the GDP report revealed that consumer spending was down a massive 9% . No wonder exports from Germany, China and Japan are falling off a cliff. Read full article... Read full article...
Sunday, February 01, 2009
U.S. Unemployment Government Statistics Hiding the Dismal Truth / Economics / Recession 2008 - 2010
By: Money_Morning
Don Miller writes: The dismal U.S. unemployment numbers have gotten more airtime recently than Jerry Springer.
And why not?
The numbers are mind-numbing.
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Friday, January 30, 2009
Economic & Financial Markets Forecast 2009: Collapsing Global Financial System Ponzi Scheme / Stock-Markets / Recession 2008 - 2010
By: Ty_Andros
As economic activity and PONZI finance fall off the face of the earth, we enter the stretch run of the CON game known as the Bond and FIAT currency markets. Although both are headed for their ultimate demise, the path will be quite different. In 2009, these challenges will be headed your way. Prepare properly and thrive, or fail to do so and fall to your demise. Read full article... Read full article...
Friday, January 30, 2009
U.S. Economy Contracts 3.8% as Wallstreet Rewards Failure with Bailout Cash / Stock-Markets / Recession 2008 - 2010
By: Anthony_Cherniawski
The U.S. economy shrank the most in the fourth quarter since 1982 as consumer spending recorded the worst slide in the postwar era, a trajectory that's likely to continue in coming months.
The 3.8 percent annual pace of contraction was less than forecast, with a buildup of unsold goods cushioning the blow. Excluding inventories, the decline was 5.1 percent, the Commerce Department said today in Washington. A survey of purchasing managers also indicated today that business in January was the weakest in almost 27 years.
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Friday, January 30, 2009
Peter Schiff, WSJ and Countries Must Un-peg Before They Decouple / Economics / Recession 2008 - 2010
By: Chris_Galakoutis
The Wall Street Journal ran a piece today titled: “Right Forecast by Schiff, Wrong Plan?”
Peter Schiff is the president of the Darien, Connecticut broker-dealer firm, Euro Pacific Capital Inc., which specializes in investments in foreign dividend paying stocks. He has come under some criticism recently concerning the performance in 2008 of foreign stocks tied to his investment strategies – namely, that the U.S dollar would weaken significantly and that foreign economies and stocks would outperform those in the U.S.
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Friday, January 30, 2009
Cassandra John Paulson Hedge Fund Manager Makes Billions from the Financial Crisis / Stock-Markets / Recession 2008 - 2010
By: Oxbury_Research
As expected, the Federal Reserve kept its key interest rate near 0% and claimed it stands ready to take additional steps such as purchasing longer-term Treasury bonds if such a move will help get credit flowing once again.
It seems their logic is that lowering the yield on government bonds will spur other lenders to lower their own yields. Hmmm, isn't the mantra of cheaper money everywhere sounding familiar? Why, of course it is.
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Friday, January 30, 2009
California Economy Near Collapse / Economics / Recession 2008 - 2010
By: Oxbury_Research
MSNBC: California 's fiscal future lurched yet another step toward oblivion on Friday as state Controller John Chiang announced he could no longer make payments for services to disabled and blind people who need the money to pay for rent and food .Chiang said payments would most likely have to be stopped by Feb. 1. Read full article... Read full article...
Thursday, January 29, 2009
U.S. Economy in Deepening Recession / Economics / Recession 2008 - 2010
By: Hans_Wagner
Does any Know Where the Economy is Going? - The U.S. economy has been in a recession for more than a year now. The current administration is now debating an additional stimulus package to help turn the economy around. Lead by followers of John Maynard Keynes, the father of deficit spending, the U.S. government is bent on spending its way out of the recession. Do these programs have a chance to help the economy recover and start a new long-term economic expansion? Read full article... Read full article...
Wednesday, January 28, 2009
U.S. Recession Hits Asian Economies Hard / Economics / Recession 2008 - 2010
By: Money_and_Markets
Tony Sagami writes: President Obama and the Democrat-controlled Congress are on a multi-trillion dollar spending spree to keep our economy from slowing even further.
Whether all that spending will revive our economy is yet to be seen. However, one thing is very clear —
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Wednesday, January 28, 2009
Euro-zone Recession: Light at the End of the Tunnel? / Economics / Recession 2008 - 2010
By: Victoria_Marklew
Today's Ifo and last week's Belgian leading indicator offer the tantalizing hope that the economic downturn across the Euro-zone is starting to bottom out - but one month is not enough to call a trend, and the ‘zone in general, and Germany in particular, are still likely in for a rough first quarter of 2009. Read full article... Read full article...