Recession / Depression

The total lie of "recovery"...FACT- 1/3 of all USA now OUT of the workforce

By comments and news from rt, Posted in Recession / Depression
March 8, 2015, 8:35 pm CDT

http://rt.com/usa/238697-americans-labor-jobs-report/

Survey of top CEO's finds them PESSIMISTIC on economy

By news from usatoday, Posted in Recession / Depression
January 20, 2015, 3:32 pm CST

http://www.usatoday.com/story/money/business/2015/01/20/pwc-global-ceo-survey-davos-world-economic-forum/22018197/

DOLLAR DYSTOPIA: - Price of Electricity Hit Record High in U.S. in 2014

By comments and news from cns, Posted in Recession / Depression
January 17, 2015, 6:02 pm CST

http://cnsnews.com/news/article/terence-p-jeffrey/price-electricity-hit-record-high-us-2014

USA actually in a severe DEPRESSION - REAL Unemployment rate = 18%

By comments and news from net, Posted in Recession / Depression
December 8, 2014, 9:30 pm CST

http://www.wnd.com/2014/12/donald-trump-obamas-jobless-figures-phony/?cat_orig=money

* * * Bypassing gov't lies & spin --USA's REAL Unemployment rate is 18%

By comments and news from net, Posted in Recession / Depression
August 1, 2014, 12:46 pm CDT

http://www.infowars.com/real-unemployment-hangs-at-18/

THE NON RECOVERY: -- Microsoft lays off a staggering 18,000 people

By news from net, Posted in Recession / Depression
July 17, 2014, 11:56 am CDT

http://rt.com/business/173568-microsoft-layoff-record-nokia/

37.2%: --- Percentage Not in Labor Force remains at ...a 36-year high

By news and comments from net, Posted in Recession / Depression
June 6, 2014, 7:25 pm CDT

http://cnsnews.com/news/article/ali-meyer/372-percentage-not-labor-force-remains-36-year-high

http://cnsnews.com/news/article/ali-meyer/unemployed-women-increased-60000-may

* * * NEW INFO SURFACES revealing TERRIBLE ECONOMIC NEWS *

By comments and news from confidential sources, Posted in Recession / Depression
June 5, 2014, 1:18 pm CDT

ACUTELY DISTURBING data comes to light that we are going to tell you about now, but which NO OTHER NEWS MEDIA has been able to access and publicize. It has to do with the collapsing USA economy. As you know yourself from daily life all around you THERE IS NO ECONOMIC RECOVERY going on. 'Recovery' is a hyped fiction. A propaganda line told by Washington to keep the public from panicking. A lie told and buttressed with falsified numbers. But the fact is--- there is NO RECOVERY at all going on in the broad national economy. Brace yourself now, here comes the big shock......

THE ECONOMY HAS CONTACTED WAY WORSE than even the most dismal cynics have guessed.

And what we are going to tell you now is an index of how badly the USA economy has collapsed already.

IN THE NON ESSENTIAL SPENDING sector, and that means non-necessities, ranging from small purchases like ice cream up to various other products and services..in the aspects of NON ESSENTIAL "pleasure purchase spending"..the USA economy has contacted since 2008 by

.........67%........

Read that again..... 67% contraction ..........in the product and services realms of "non essential pleasure spending".

Sure there are areas here and there where the spending is decent or even great but those are exceptions. What we are spotlighting in this report is an OVERALL number index based on the BROAD NATIONAL LARGE economy...and in terms of NON ESSENTIAL "pleasure purchases" in that broad economy, there has been a 67% contraction since 2008

This figure is an average of THREE DIFFERENT surveys taken over the past 10 months...The results of which have not been published in media - before this report, right now.

MORE AND RELATED: --- http://www.infowars.com/its-coming-we-are-seeing-a-very-material-slow-down-across-the-economy/

http://www.daretoreadit.com/?id=33072

The "NON-RECOVERY" - businesses being destroyed-- at severe rate

By commentary and analysis from infowars, Posted in Recession / Depression
May 7, 2014, 7:20 am CDT

http://www.infowars.com/the-economic-recovery-continues-businesses-are-being-destroyed-faster-than-they-are-being-created/

Did We Just Lose 85,000 U.S. Jobs to Foreign Workers?

By news and comments from net, Posted in Recession / Depression
April 21, 2014, 5:19 pm CDT

http://www.fromthetrenchesworldreport.com/did-we-just-lose-85000-u-s-jobs-to-foreign-workers/85309

THE NON RECOVERY: Radio Shack closing 1,100 stores

By news and comments from cnn-money, Posted in Recession / Depression
March 4, 2014, 12:01 pm CST

http://money.cnn.com/2014/03/04/news/companies/radioshack-store-closings/index.html?hpt=hp_t2

TEEN BLACK UNEMPLOYMENT rises to 38% US economy chaos worsesns

By news from breitbart, Posted in Recession / Depression
February 7, 2014, 3:28 pm CST

http://www.breitbart.com/Big-Government/2014/02/07/Black-Teen-Unemployment-Jumps-to-38

USA EOCNOMIC RECOVERY? .............its bogus, a total propganda myth

By news and comment from various sources, Posted in Recession / Depression
February 7, 2014, 3:20 pm CST

http://rt.com/usa/us-economy-falls-below-expectations-098/

UNEMPLOYMENT among teens = more then 3x the nat'l average

By news from cns, Posted in Recession / Depression
February 7, 2014, 10:27 am CST

http://cnsnews.com/news/article/michael-w-chapman/teen-unemployment-207-more-three-times-national-average

More men in their prime working years lack jobs, says WSJ

By news from wsj, Posted in Recession / Depression
February 6, 2014, 1:10 pm CST

http://www.cnbc.com/id/101396245

SURVEY: - 40 MILLION AMERICANS; are on the brink of utter financail ruin

By news and info from infowars, Posted in Recession / Depression
February 5, 2014, 11:23 pm CST

http://www.infowars.com/millions-of-americans-teetering-on-edge-of-financial-ruin/

ANALYSIS: Obama's lame proposals won't fix depression economy

By comments from fox, Posted in Recession / Depression
January 29, 2014, 3:27 pm CST

COMMENTARY -- http://www.foxnews.com/opinion/2014/01/29/obama-foolish-state-union-proposals-wont-fix-distressed-economy/

UNDER OBAMA - nearly 10mil more Americans- have been put out of work

By COMMENTARY and ANALYSIS from intellihub, Posted in Recession / Depression
January 13, 2014, 1:15 am CST

http://intellihub.com/2014/01/13/number-working-age-americans-without-job-risen-almost-10-million-obama/

ECONOMY in REVERSE: Job Growth Weakest in Three Years

By COMMENTARY and ANALYSIS from newsmax, Posted in Recession / Depression
January 10, 2014, 9:01 am CST

http://www.newsmax.com/StreetTalk/job-unemployment-labor-workers/2014/01/10/id/546376

ECON RECOVERY? Macy's lays off 2,500, aims to save $100 million a year.

By COMMENTARY and ANALYSIS from USA TODAY, Posted in Recession / Depression
January 8, 2014, 8:34 pm CST

http://www.usatoday.com/story/money/business/2014/01/08/macys-layoffs/4375217/

SHOCKER DISCLOSURE: The USA Real Unemployment Rate Is Over 30%

By COMMENTARY and news analysis from NET, Posted in Recession / Depression
November 25, 2013, 10:38 pm CST

http://freedomoutpost.com/2013/11/real-unemployment-rate-30/

LATEST POLLING: US consumer sentiment DIVES DOWN-- in November

By NEWS and COMMENT from CNBC, Posted in Recession / Depression
November 8, 2013, 9:34 am CST

http://www.cnbc.com/id/101182382

WHISTLEBLOWER: discloses USA unemployment TWICE as BAD in reality

By NEWS AND VIDEOS from RT.com, Posted in Recession / Depression
October 8, 2013, 6:34 am CDT

http://www.youtube.com/watch?v=4hgA9j-4dB0

FMR TREASURY OFFICIAL: The US dollar is going toc crash soon

By COMMENTARY and news analysis from NET, Posted in Recession / Depression
September 20, 2013, 4:07 pm CDT

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/20_Former_US_Treasury_Official_-_Terrifying_US_Collapse_Ahead.html

ECONOMY PREVIEW: Existing-Home Sales Probably Declined

By NEWS INVESTIGATION and COMMENT from Bloomberg, Posted in Recession / Depression
September 15, 2013, 2:39 pm CDT

http://www.bloomberg.com/news/2013-09-15/existing-home-sales-probably-declined-u-s-economy-preview.html

USA TEENS ....face worst labor market ever

By NEWS and photos from WallStreetJournal, Posted in Recession / Depression
August 11, 2013, 8:35 pm CDT

http://www.infowars.com/teens-face-worst-labor-market/

Japan Is Flashing a Warning For What is Coming Our Way

By NEWS INVESTIGATION and COMMENT from BeforeItsNews, Posted in Recession / Depression
August 9, 2013, 1:17 am CDT

http://beforeitsnews.com/economy/2013/08/japan-is-flashing-a-warning-for-what-is-coming-our-way-2543846.html

MORE:
Shortages Are Going to Drive People Out of Their Minds: "That's When the Riots Will Start"

http://beforeitsnews.com/survival/2013/08/shortages-are-going-to-drive-people-out-of-their-minds-thats-when-the-riots-will-start-2483832.html

THE STAGNANT ECONOMY: consumer spending stalls

By NEWS and PHOTOS from CNBC, Posted in Recession / Depression
August 5, 2013, 9:18 am CDT

http://www.cnbc.com/id/100938914

Zombie economy overshadows fed meeting

By COMMENTARY and analysis from CNBC, Posted in Recession / Depression
July 30, 2013, 9:31 pm CDT

http://www.cnbc.com/id/100926022

ABOUT OBAMA's "BS" comments on the economy

By COMMENTARY and analysis from NET, Posted in Recession / Depression
July 25, 2013, 5:14 pm CDT

http://www.nydailynews.com/opinion/president-article-1.1408097

The looming NEXT FINANCIAL COLLAPSE, its a real inevitability

By COMMENTARY and analysis from BeforeItsNews, Posted in Recession / Depression
July 18, 2013, 8:31 am CDT

http://beforeitsnews.com/economy/2013/07/a-nightmare-scenario-2538316.html

RICKARDS warns you: Fed tapering of QE3 won't last long

By COMMENTARY and analysis from CNBC, Posted in Recession / Depression
July 15, 2013, 5:22 am CDT

http://www.cnbc.com/id/100874576

Worldwide, 'business confidence' falls back to FINANCIAL CRISIS LOWS

By NEWS INVESTIGATION and COMMENT from CNBC, Posted in Recession / Depression
July 15, 2013, 5:20 am CDT

http://www.cnbc.com/id/100882699

Gas prices push wholesale inflation up in June

By NEWS and PHOTOS from USA TODAY, Posted in Recession / Depression
July 12, 2013, 9:32 pm CDT

http://www.usatoday.com/story/money/business/2013/07/12/cpi-wholesale-july-12/2511545/

USA's IMPLODING ECONOMY: Walmart is dependent on food stamps

By NEWS and PHOTOS from MSNBC, Posted in Recession / Depression
July 12, 2013, 9:27 pm CDT

http://tv.msnbc.com/2013/07/12/walmart-whos-dependent-on-food-stamps-cheapskate-corporations/

USA Small Businesses decimated by Lack of Consumer Spending

By COMMENTARY and analysis from FOX, Posted in Recession / Depression
July 7, 2013, 6:45 pm CDT

http://video.foxbusiness.com/v/2529199813001/small-businesses-frustrated-by-lack-of-consumer-spending/

US Trade deficit worsened by lingering ECONOMIC DEPRESSION

By NEWS INVESTIGATION and COMMENT from USA TODAY, Posted in Recession / Depression
July 3, 2013, 9:08 am CDT

http://www.usatoday.com/story/money/business/2013/07/03/trade-deficit-june/2485625/

THE NON-RECOVERY: weekly jobless claims jump 18,000 in a week

By NEWS INVESTIGATION and COMMENT from USA TODAY, Posted in Recession / Depression
June 20, 2013, 11:15 am CDT

http://www.usatoday.com/story/money/business/2013/06/20/weekly-jobless-claims/2440873/

"THE NON EXISTENT RECOVERY" (update): -- IBM laying off 1600 people

By NEWS INVESTIGATION and COMMENT from Examiner.com, Posted in Recession / Depression
June 13, 2013, 3:02 pm CDT

http://www.examiner.com/topic/ibm?cid=PROG-TagPage-HomepageDL1-IBM

WHAT??????---World Bank cuts global growth forecast to 'new normal'

By NEWS INVESTIGATION and COMMENT from RT.com, Posted in Recession / Depression
June 13, 2013, 8:14 am CDT

Meanwhile the Wall Street Journal says a wave of global economic instability is gathering, and considerably triggered in Japan:

http://rt.com/business/world-bank-global-economy-forecast-619/

DANGER: Regulators Question Banks on Business Lending Risks

By NEWS FEATURE from WallStreetJournal, Posted in Recession / Depression
June 12, 2013, 9:46 pm CDT

http://online.wsj.com/article/SB10001424127887324049504578541683817552170.html

ECONOMY: The NON RECOVERY slurgs on... job creation is mythical

By NEWS INVESTIGATION AND COMMENT from v, Posted in Recession / Depression
June 5, 2013, 10:27 am CDT

http://www.marketwatch.com/story/adp-says-135000-new-private-sector-jobs-in-may-2013-06-05?link=MW_latest_news

In order to RESTORE to the level of economic strength we had BEFORE the DEPRESSION-RECESSION hit, we would need to have 360,000 new jobs created monthly, for three years in a row...click the link above to see how we are doing on that? YEAH...a thousand miles away from hope.

BUT TRY TO UNDERSTAND WHY, the president of the USA knows noting about economics, barely works much in his workday, and is not DOING ANYTHING to fix the economy.

THAT'S RIGHT, barely does anything in his workday anymore.

LOOK:

http://www.daretoreadit.com/?id=19086

..

TRUTH OUT on NON RECOVERY: New Stats: Factories Suffer Awful Slump

By News Feature from WSJ, Posted in Recession / Depression
June 3, 2013, 11:53 pm CDT

http://online.wsj.com/article/SB10001424127887324563004578523100247860088.html

Weak Signs for U.S. Output
Factories Suffer Worst Slump In Years

Further UNEMPLOYMENT in US: Zynga announces massive layoffs

By NEWS and PHOTOS from USA TODAY, Posted in Recession / Depression
June 3, 2013, 10:23 pm CDT

http://www.usatoday.com/story/tech/gaming/2013/06/03/zynga-layoffs-mark-pincus/2385291/

THE USA's NON-EXISTENT 'RECOVERY' - Panasonic to cut 5,000 jobs

By NEWS INVESTIGATION AND COMMENT from RT.com, Posted in Recession / Depression
May 31, 2013, 6:35 am CDT

http://rt.com/business/panasonic-cut-5000-jobs-007/

Unemployment in Eurozone hits record 12.2% -- and climbing

By NEWS and PHOTOS from RT.com, Posted in Recession / Depression
May 31, 2013, 6:34 am CDT

http://rt.com/news/line/2013-05-31/#48379

QUINTIERI: Economic Collapse Isn't Coming -- We've Already Begun

By NEWS AND VIDEO from USAwatchdog, Posted in Recession / Depression
May 29, 2013, 2:28 pm CDT

http://beforeitsnews.com/economy/2013/05/collapse-isnt-coming-weve-already-begun-david-quintieri-2524314.html

Bernanke: Too Soon to Consider Tapering Bond Buying

By News and PHOTOS from CNBC, Posted in Recession / Depression
May 22, 2013, 10:47 am CDT

http://www.cnbc.com/id/100747262

ROCHE echoes SCHIFF: Another $$$ Crisis Coming, Worse Than the Last

By News and PHOTOS from CNBC, Posted in Recession / Depression
May 8, 2013, 4:39 pm CDT

http://www.cnbc.com/id/100718505

SHOCKING: Peter Schiff tells HOW the next Econ crash will happen

By News and COMMENTARY from PeterSchiff, Posted in Recession / Depression
May 8, 2013, 10:58 am CDT

REPRINT BY DEMAND: Peter Schiff tells HOW the next Economy crash will happen.
The last major "taker" for our US debt is Japan. When we burn out Japan, the crash will commence.
And it will be ferocious.

||||||||||||||||||||||||||||||

You might be thinking everything's okay: the stock market is on the rise, jobs are growing, the worst of it is over. You'd be wrong. In 'The Real Crash', New York Times bestselling author Peter D. Schiff argues that America is enjoying a government-inflated bubble, one that reality will explode . . . with disastrous consequences for the economy and for each of us. Schiff demonstrates how the infusion of billions of dollars of stimulus money has only dug a deeper hole: the United States government simply spends too much and does not collect enough money to pay its debts, and in the end, Americans from all walks of life will face a crushing consequence.



We're in hock to China, we can't afford the homes we own, and the entire premise of our currency---backed by the full faith and credit of the United States---is false. Our system is broken, Schiff says, and there are only two paths forward. The one we're on now leads to a currency and sovereign debt crisis that will utterly destroy our economy and impoverish the vast majority of our citizens.



However, if we change course, the road ahead will be a bit rockier at first, but the final destination will be far more appealing. If we want to avoid complete collapse, we must drastically reduce government spending---eliminate entire agencies, end costly foreign military escapades and focus only on national defense---and stop student loan or mortgage interest deductions, as well as drug wars and bank-and-business bailouts. We must also do what no politician or pundit has proposed: America should declare bankruptcy, restructure its debts, and reform our system from the ground up.

Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we don't. And, with wisdom born from having predicted the Crash of 2008, Peter Schiff explains how to protect yourself, your family, your money, and your country against what he predicts.

http://www.amazon.com/Real-Crash-Americas-Bankruptcy-How-Yourself/dp/1250004470

13 INDICATORS say USA is in NEW RECESSION, right now

By News and PHOTOS from TheEconomicCollapse, Posted in Recession / Depression
May 8, 2013, 8:17 am CDT

http://theeconomiccollapseblog.com/archives/the-price-of-copper-and11-other-recession-indicators-that-are-flashing-red

* * STREET: USA is in NEW RECESSION, despite DOW Wall St HIGHS

By NEWS FEATURE from CNBC, Posted in Recession / Depression
May 8, 2013, 8:06 am CDT

http://www.cnbc.com/id/100718144

FEATURE: USA middle class struggles to get financial help

By News and PHOTOS from USA Today, Posted in Recession / Depression
May 6, 2013, 9:08 pm CDT

http://www.usatoday.com/story/money/personalfinance/2013/05/05/middle-class-financial-advice/2090441/

USA HEAR THIS: EU says Euro Economy Worse Than Thought

By NEWS ANALYSIS and COMMENTARY from Newser, Posted in Recession / Depression
May 4, 2013, 1:28 pm CDT

http://www.newser.com/story/167308/eu-economy-worse-than-we-thought.html

The Percentage Of Self-Employed Americans Is At A Record Low

By NEWS INVESTIGATION AND COMMENT from TheEconomicCollapse, Posted in Recession / Depression
May 3, 2013, 12:57 pm CDT

http://www.prisonplanet.com/they-are-murdering-small-business-the-percentage-of-self-employed-americans-is-at-a-record-low.html

15-year mortgages at record low 2.56% avg.

By News Feature from USA Today, Posted in Recession / Depression
May 2, 2013, 2:33 pm CDT

http://www.usatoday.com/story/money/business/2013/05/02/mortgage-rates-week/2128877/

MEANWHILE how come no mainstream media is viewing THE ECONOMY?

By NEWS INVESTIGATION AND COMMENT from RT, Posted in Recession / Depression
May 2, 2013, 7:39 am CDT

MEANWHILE, how come no mainstream media is spotlighting THE ECONOMY?

USA DEPRESSION PERSISTS: 'Real' Jobless Rate Above 10% Most US

By News Feature from CNBC, Posted in Recession / Depression
May 1, 2013, 11:07 am CDT

http://www.cnbc.com/id/100691168

USA: amount of people who give up looking for work, grows

By News Feature from USA Today, Posted in Recession / Depression
April 20, 2013, 5:06 am CDT

http://www.usatoday.com/story/money/business/2013/04/19/unemployment-states-march/2096749/

USA JOBLESSNESS RISING....[-what else is new?]

By News Feature from RT, Posted in Recession / Depression
April 18, 2013, 9:54 am CDT

US jobless claims rise to 352,000 from 348,000

The number of Americans filing claims for unemployment benefits was little changed last week. Initial jobless claims rose by 4,000 to 352,000 in the week ended April 13, the US Labor Department said Thursday. The advance number for seasonally-adjusted insured unemployment during the week ending 6 April was 3,068,000, a decrease of 35,000 from the preceding week's revised level of 3,103,000. The latest figures show the labor market is stabilizing, analysts say.

USA: Bad Econ Stats: Consumers Show Fresh Caution

By News Feature from WSJ, Posted in Recession / Depression
April 14, 2013, 2:37 am CDT

http://online.wsj.com/article/SB10001424127887323741004578418370151050516.html

Pentagon looks to cut up to 50,000 civilian jobs over 5 years

By news from NBC, Posted in Recession / Depression
April 10, 2013, 6:09 pm CDT

http://usnews.nbcnews.com/_news/2013/04/10/17691713-pentagon-looks-to-cut-up-to-50000-civilians-over-5-years?lite=

BERNANKE basically confesses...there is no 'recovery'

By News Feature from Wire Services, Posted in Recession / Depression
April 8, 2013, 11:16 pm CDT

http://www.rawstory.com/rs/2013/04/08/ben-bernanke-economy-clearly-still-far-from-desired-state/

Disney to begin layoffs in studio, consumer products divisions

By News Feature from Reuters, Posted in Recession / Depression
April 5, 2013, 6:30 pm CDT

http://finance.yahoo.com/news/exclusive-disney-begin-layoffs-studio-010148292.html

CNBC INTEL says: March Jobs Report -- FLAT & Full of Excuses

By NEWS ANALYSIS and COMMENTARY from CNBC, Posted in Recession / Depression
April 4, 2013, 6:00 pm CDT

http://www.cnbc.com/id/100617512

YES WE HAVE NO RECOVERY: service industries at a crawl

By News Feature from Bloomberg News, Posted in Recession / Depression
April 3, 2013, 10:50 am CDT

http://www.bloomberg.com/news/2013-04-03/ism-services-gauge-in-u-s-decreased-to-54-4-in-march-from-56.html

SOFT MANUFACTURING NUMEBRS pull Wall Street down

By NEWS from theStreet, Posted in Recession / Depression
April 1, 2013, 4:35 pm CDT

http://www.thestreet.com/story/11883971/1/sp-index-little-changed-as-tesla-jumps.html

LATEST REPORT: Negative News for Jobless Claims and GDP

By News Feature from Reader Comments, Posted in Recession / Depression
March 28, 2013, 7:54 am CDT

http://www.cnbc.com/id/100600047

Deep Freeze: USA Home Sales to Barely Budge in Spring

By News Feature from CNBC, Posted in Recession / Depression
March 27, 2013, 11:52 am CDT

http://www.cnbc.com/id/100596583

USA DEPRESSION: FAA closing 149 U.S. Airport Towers due to Budget Cut

By News Feature from Bloomberg News, Posted in Recession / Depression
March 22, 2013, 2:23 pm CDT

http://www.bloomberg.com/news/2013-03-22/faa-to-close-149-u-s-airport-towers-after-budget-cuts.html

USA's DEPRESSION: Chicago to Close 53 Elementary Schools

By News Feature from Newser, Posted in Recession / Depression
March 22, 2013, 12:12 pm CDT

http://www.newser.com/story/164879/chicago-to-close-53-elementary-schools.html

Drugmaker AstraZeneca will cut 1,600 jobs

By News and PHOTOS from USA Today, Posted in Recession / Depression
March 18, 2013, 8:52 pm CDT

http://www.usatoday.com/story/money/business/2013/03/18/astrazeneca-reorganization/1997109/

Cyprus Bailout 'Disaster' Risks New Euro Crisis

By News Feature from CNBC, Posted in Recession / Depression
March 17, 2013, 2:18 pm CDT

http://www.cnbc.com/id/100560852

Cyprus president tries to amend bailout plan
http://www.usatoday.com/story/money/2013/03/17/cyprus-president-bailout-plan/1995415/

CONCERN: Will Southern Europe's severe DEPRESSION come to USA also?

By FEATURE from TheEconomicCollapse, Posted in Recession / Depression
March 16, 2013, 1:20 pm CDT

A Full-Blown Economic Depression Is Raging In Southern Europe - Is The U.S. Next?

When you get into too much debt, eventually really bad things start to happen. This is a very painful lesson that southern Europe is learning right now, and it is a lesson that the United States will soon learn as well. It simply is not possible to live way beyond your means forever. You can do it for a while though, and politicians in the U.S. and in Europe keep trying to kick the can down the road and extend the party, but the truth is that debt is a very cruel master and at some point it inevitably catches up with you. And when it catches up with you, the results can be absolutely devastating. Greece, Italy, Spain and Portugal all tried to just slow down the rate at which their government debts were increasing, and look at what happened to their economies. In each case, GDP is shrinking, unemployment is skyrocketing, credit is freezing up and manufacturing is declining. And you know what? None of those countries has even gotten close to a balanced budget yet. They are all still going into even more debt. Just imagine what would happen if they actually tried to only spend the money that they brought in?

I have always said that the next wave of the economic collapse would start in Europe and that is exactly what is happening. So keep watching Europe. What is happening to them will eventually happen to us.

The following are 17 signs that a full-blown economic depression is raging in southern Europe...

#1 The Italian economy is in the midst of a horrifying "credit crunch" that is causing thousands of companies to go bankrupt...

Confindustria, the business federation, said 29pc of Italian firms cannot meet "operational expenses" and are starved of liquidity. A "third phase of the credit crunch" is underway that matches the shocks in 2008-2009 and again in 2011.

In a research report the group said the economy was caught in a "vicious circle" where banks are too frightened to lend, driving more companies over the edge. A thousand are going bankrupt every day.

#2 During the 4th quarter of 2012, the unemployment rate in Greece was 26.4 percent. That was 2.6 percent higher than the third quarter of 2012, and it was 5.7 percent higher than the fourth quarter of 2011.

#3 During the 4th quarter of 2012, the youth unemployment rate in Greece was 57.8 percent.

#4 The unemployment rate in Spain has reached 26 percent.

#5 In Spain there are 107 unemployed workers for every available job.

#6 The unemployment rate in Italy is now 11.7 percent. That is the highest that it has been since Italy joined the euro.

#7 The youth unemployment rate in Italy has risen to a new all-time record high of 38.7 percent.

#8 Unemployment in the eurozone as a whole has reached a new all-time high of 11.9 percent.

#9 Italy's economy is starting to shrink at a frightening pace...

Data from Italy's national statistics institute ISTAT showed that the country's economy shrank by 0.9pc in the fourth quarter of last year and gross domestic product was down a revised 2.8pc year-on-year.

#10 The Greek economy is contracting even faster than the Italian economy is...

Greece also sank further into recession during the fourth quarter of 2012, with figures on Monday showing the economy contracted by 5.7pc year-on-year.

#11 Overall, the Greek economy has contracted by more than 20 percent since 2008.

#12 Manufacturing activity is declining just about everywhere in Europe except for Germany...

Research group Markit said its index of activity in UK manufacturing - where 50 is the cut off between growth and decline - sank from 50.5 in January to 47.9 in February. It left Britain on the brink of a third recession in five years after the economy shrank by 0.3 per cent in the final quarter of 2012.

Chris Williamson, chief economist at Markit, said: 'This represents a major setback to hopes that the UK economy can return to growth in the first quarter and avoid a triple-dip recession.'

The eurozone manufacturing index also read 47.9. Germany scored 50.3 but Spain hit 46.8, Italy 45.8 and France 43.9.

#13 The percentage of bad loans in Italian banks has risen to 12.2 percent. Back in 2007, that number was sitting at just 4.5 percent.

#14 Bank deposits experienced significant declines all over Europe during the month of January.

#15 Private bond default rates are soaring all over southern Europe...

S&P said the default rate for Italian non-investment grade bonds jumped to 9.5pc last year from 5.7pc in 2012 as local banks shut off funding. It was even worse in Spain, doubling to 14.3pc.

The default rate in France rocketed from 0.8pc to 8.7pc, the latest in a blizzard of bad news from the country as the delayed effects of tax rises, fiscal tightening, and the strong euro do their worst.

#16 Lars Feld, a key economic adviser to German Chancellor Angela Merkel, recently said the following...

"The sustainability of Italian public finances is in jeopardy. The euro crisis will therefore return shortly with a vengeance."

#17 Things have gotten so bad in Greece that the Greek government plans to sell off 28 state-owned buildings - including the main police headquarters in Athens.

One of the few politicians in Europe that actually understands what is happening in Europe is Nigel Farage. A video of one of his recent rants is posted below. Farage believes that "the Eurozone has been a complete economic disaster" and that the worst is yet to come...



Most people believe that the eurozone has been "saved", but that is not even close to the truth.

In fact, it becomes more likely that we will see the eurozone break up with each passing day.

So who would leave first?

Well, recently there have been rumblings among some German politicians that Greece should be the first to leave. The following is from a recent Reuters article...

Greece remains the biggest risk for the euro zone despite a calming of its economic and political crisis and may still have to leave the common currency, a senior conservative ally of German Chancellor Angela Merkel said.

But there is also a chance that Germany could eventually be the first nation that decides to leave the euro. In fact, a new political party is forming in Germany that is committed to getting Germany out of the euro. The following is a brief excerpt from a recent article by Ambrose Evans-Pritchard...

A new party led by economists, jurists, and Christian Democrat rebels will kick off this week, calling for the break-up of monetary union before it can do any more damage.

"An end to this euro," is the first line on the webpage of Alternative für Deutschland (AfD). "The introduction of the euro has proved to be a fatal mistake, that threatens the welfare of us all. The old parties are used up. They stubbornly refuse to admit their mistakes."

They propose German withdrawl from EMU and return to the D-Mark, or a breakaway currency with the Dutch, Austrians, Finns, and like-minded nations. The French are not among them. The borders run along the ancient line of cleavage dividing Latins from Germanic tribes.

However this all plays out, the reality is that things are about to get much more interesting in Europe.

No debt bubble lasts forever. The Europeans are finding that out right now, and the U.S. won't be too far behind.

But for the moment, most Americans assume that everything is going to be okay because the Dow keeps setting new all-time record highs.

Well, enjoy this little bubble of debt-fueled false prosperity while you can, because it won't last for long.

A massive wake up call is coming, and it will be exceedingly painful for those that are not ready for it.

|||||||||||||||||

MORE INFO:
http://theeconomiccollapseblog.com/

.add your comments below

Jobless Claims: Slight Slip - Meanwhile: Producers Paying More

By News and PHOTOS from Reuters, Posted in Recession / Depression
March 14, 2013, 10:46 am CDT

http://www.cnbc.com/id/100552643

Uh Oh! - Housing Foreclosures Start to 'Flare-Up' Again

By NEWS INVESTIGATION * NEWS from CNBC, Posted in Recession / Depression
March 14, 2013, 10:44 am CDT

http://www.cnbc.com/id/100553116

FEATURE REPORT: Why Jobs Still Aren't Coming Back

By NEWS INVESTIGATION * NEWS from Internet, Posted in Recession / Depression
March 11, 2013, 5:22 pm CDT

http://www.realclearpolitics.com/2013/03/11/why_jobs_still_aren039t_coming_back_303681.html

Elites Admit Economy may spawn Civil Unrest

By News Feature + VIDEO from Youtube, Posted in Recession / Depression
March 10, 2013, 4:46 am CDT

http://www.youtube.com/watch?v=cYnWMgT77DY

SHOCKER: 'Jobs Numbers' SCAM: what the gov't isn't noting

By NEWS INVESTIGATION * NEWS from CNS, Posted in Recession / Depression
March 9, 2013, 9:00 am CST

http://cnsnews.com/news/article/record-89304000-americans-not-labor-force-296000-fewer-employed-january

Housing + Jobs = Mild Bump, but Many Workers Aren't Coming Back

By NEWS INVESTIGATION * NEWS from CNBC, Posted in Recession / Depression
March 8, 2013, 1:18 pm CST

http://www.cnbc.com/id/100537494

* * USA ECONOMY: 12 shocking facts you need to know

By News Feature from TheEconomicCollapse, Posted in Recession / Depression
March 4, 2013, 8:50 am CST

http://theeconomiccollapseblog.com/archives/12-things-that-just-happened-that-show-the-next-wave-of-the-economic-collapse-is-almost-here

WARNING: 16 Clues The Middle Class Is Running Out Of Money

By NEWS FEATURE from TheEconomicCollapse, Posted in Recession / Depression
March 1, 2013, 8:53 am CST

http://theeconomiccollapseblog.com/archives/consumer-spending-drought-16-signs-that-the-middle-class-is-running-out-of-money

STRONG INDICATIONS: new economic crisis heading our way

By News & PHOTOS from BusinessInsider, Posted in Recession / Depression
March 1, 2013, 8:51 am CST

http://www.businessinsider.com/walter-zimmerman-warns-of-financial-crisis-2013-2

WHY the USA ECONOMY is going to inevitably crash... AGAIN

By News and VIDEO from RT.com, Posted in Recession / Depression
March 1, 2013, 8:03 am CST

The economic system managed by the US government is going to collapse, Euro Pacific Capital President Peter Schiff told RT. All of this is because of Washington's 'too big to fail' policy, Schiff argues.

RT: It is the second-best year for the big banks, great for Wall Street, but is it great for the economy as a whole?

Peter Schiff: Well, it is good to be a banker, especially if you have Ben Bernanke at the Federal Reserve. The Fed's policy is to try to revive the economy by inflating the markets. It is great if you are a banker, because you benefit on several fronts. The markets are more vibrant, so you can make more money speculating, but also it is cheaper to borrow and that is a lot of the source of this speculation. So the banks are doing really well under this environment but the US economy is not doing well at all. In fact, people think that there is a recovery going on. It is not. The economy is actually getting sicker as a result of the current Fed policy.

RT: The financial industry takes home a third of corporate profits. What does it mean for the average citizen? How dangerous is it for the economy to be in the hands of banks?

PS: It is very dangerous that the government, through monetary and fiscal policy, is funneling such a large percent of our resources into the financial sector. And it is not just the financial sector, but look at government. It pays to be in government. Look at the salaries of the bureaucrats and the lobbyists in Washington, DC. So the bureaucrats and bankers are thriving under this phony economy but the average American working - or not working, because they can't get jobs because the resources necessary to employ them are in Washington, DC, and in New York City - is not doing well.
And eventually this whole phony economy that the Fed has created is going to come collapsing down, and in the long run the bankers are going to lose money. Hopefully we won't have another round of bailouts, but in the meantime they are getting rich as the economy suffers.


Traders work on the floor of the New York Stock Exchange on February 27, 2013 in New York City. (Spencer Platt/Getty Images/AFP)

RT: $20 billion in bonuses at a time when the economy is shrinking - how does that add up?

PS: It does not add up. And I think that Wall Street gain is Main Street pain. And people think the economy is expanding. Look we just got the GDP numbers, they revised the fourth quarter and it showed a slight expansion, one-tenth of 1 percent, but that is only because the government assumes that there is no inflation. They want us to believe that inflation is around 1.5 percent. Inflation in my opinion is at least five percent, and quite a bit more. But even if inflation is only 3 percent, that means the US economy is contracting, which makes a lot of sense to me.

The reason why it does not feel like a recovery for most people, is because it is not, it is a recession. But it is certainly good times for the banks and good times in Washington, DC, because that is where our money is going. If you're wondering why it is so hard to make ends meet on Main Street, it's because some bureaucrat is eating your lunch.

RT: We reported yesterday how Massachusetts Senator Elizabeth Warren grilled Ben Bernanke over the 'too big to fail' policy, pointing out that big banks get $83 billion a year in taxpayer subsides, so could the big banks survive without taxpayers pumping them up?

PS: Many of them would have already failed, but the answer is no. But Ben Bernanke was not even honest with Senator Warren, because he is not honest with anybody, but on that particular issue, he was disingenuous at best. Because was she was talking about that subsidy and it is hard to qualify exactly what it is, but Ben Bernanke acted as if subsidy was there for the stockholders and the banks. It is not. The subsidy makes it easier for the banks to borrow money, it makes it easier for the banks to attract depositors, who want to put their money in an institution that is 'too big to fail.'

If you've got more money than the FDIC maximums, you want to make sure you're at the bank that is going to get bailed out, you don't want to take chances on the smaller bank. So that does give big banks an unfair advantage to attract customers and borrow money. And even if the banks fail, the depositors are still going to get bailed out. The secure creditors are still going to get bailed out and Ben Bernanke was oblivious to that. He focused on the stockholders but it is not where the subsidy is most important. It is attracting capital through lenders and through depositors and it is an unfair advantage.

Personally, I keep a lot of my money at Bank of America even though I believe they are too insolvent. And if it was not for this 'too big to fail,' I would not have a dime of my money there. But now the problem is that a much sounder, smaller institution does not get my business and now if Bank of America potentially fails, the taxpayers are going to have to bail me out, whereas if the government would not have that guarantee, I'd never put my money in harm's way in the first place.

Federal Reserve Board Chairman Ben Bernanke testifies during a House Financial Services Committee hearing on Capitol Hill February 27, 2013 in Washington, DC. (Mark Wilson/Getty Images/AFP)


RT: The argument that you do hear, is that shutting down these banks would be disastrous for the economy and that big bonuses are justified?

PS: That was spoken like a banker. Of course it is going to be bad for the people involved. And yes, in the short run, we're going to have to swallow our medicine, we're going to have to admit to a lot of serious problems that right now we are papering over but it is not like what is good for Wall Street banks is good for America. That is not the case. Actually, what is good for the banks in the short run is actually quite bad for America, because we're diverting resources that are badly needed in other parts of the economy and we're sending them to Wall Street. What we need are more factories in this country, not more banks. We need to produce more, we need to export more. We need to save more, and unfortunately none of this is taking place.

RT: They are getting a third of the profits, but what are they producing, what are they contributing to the society? Is there any incentive to change the situation?

PS: The people in power, the people that are benefiting from the status quo, they have no incentive to change it and politicians, of course, don't want to rock the boat. They do not want to do anything that would bring out short term pain, even if it produces long term gain. They are not in it for the country. They are there to line their own pockets. They want to make as much money for themselves. They want to get re-elected and if that means they have to sacrifice the country in the process, well that is the sacrifice they're willing to make. I think the only thing that is going to change this, is a crash, a crisis which is going to come in the US currency and the US bonds market. We're only going to change, when we have no alternative when the circumstances force us to change. Unfortunately by then, the problems would have gotten so much bigger, and the pain associated with correcting them would be so much greater.

http://rt.com/op-edge/wall-street-peter-schiff-653/

TRENDING USA: Companies Take Action to Woo a Cautious US Consumer

By NEWS FEATURE from CNBC, Posted in Recession / Depression
February 28, 2013, 12:22 pm CST

http://www.cnbc.com/id/100502661

Will ITALY be the spark causing financial collapse in EUROPE?

By NEWS FEATURE from TheEconomicCollapse, Posted in Recession / Depression
February 27, 2013, 11:12 am CST

http://theeconomiccollapseblog.com/archives/will-italy-be-the-spark-that-sets-off-financial-armageddon-in-europe

UNEMPLOYMENT in FRANCE reaches 16 year RECORD

By News & PHOTOS from RT.com, Posted in Recession / Depression
February 27, 2013, 10:51 am CST

http://rt.com/business/french-unemployment-economy-figures-532/

IS THIS CONSUMER ACTIVITY forecasting sudden NEW recession?

By NEWS FEATURE from CNBC, Posted in Recession / Depression
February 25, 2013, 9:47 am CST

http://www.cnbc.com/id/100485313

ECON: bad news: Jobless Claims Move Up; Inflation Pressure Builds

By NEWS FEATURE from Reuters, Posted in Recession / Depression
February 21, 2013, 8:09 am CST

http://www.cnbc.com/id/100479463

SERIOUS WARNING SIGNS: USA economy most likely to WORSEN

By COMMENTARY & ANALYSIS + from TheEconomicCollapse, Posted in Recession / Depression
February 21, 2013, 8:05 am CST

http://theeconomiccollapseblog.com/archives/20-signs-that-the-u-s-economy-is-heading-for-big-trouble-in-the-months-ahead

20 Signs That The U.S. Economy Is Heading For Big Trouble In The Months Ahead

Is the U.S. economy about to experience a major downturn? Unfortunately, there are a whole bunch of signs that economic activity in the United States is really slowing down right now. Freight volumes and freight expenditures are way down, consumer confidence has declined sharply, major retail chains all over America are closing hundreds of stores, and the "sequester" threatens to give the American people their first significant opportunity to experience what "austerity" tastes like. Gas prices are going up rapidly, corporate insiders are dumping massive amounts of stock and there are high profile corporate bankruptcies in the news almost every single day now. In many ways, what we are going through right now feels very similar to 2008 before the crash happened. Back then the warning signs of economic trouble were very obvious, but our politicians and the mainstream media insisted that everything was just fine, and the stock market was very much detached from reality. When the stock market did finally catch up with reality, it happened very, very rapidly. Sadly, most people do not appear to have learned any lessons from the crisis of 2008. Americans continue to rack up staggering amounts of debt, and Wall Street is more reckless than ever. As a society, we seem to have concluded that 2008 was just a temporary malfunction rather than an indication that our entire system was fundamentally flawed. In the end, we will pay a great price for our overconfidence and our recklessness.

So what will the rest of 2013 bring?

Hopefully the economy will remain stable for as long as possible, but right now things do not look particularly promising.

The following are 20 signs that the U.S. economy is heading for big trouble in the months ahead...

#1 Freight shipment volumes have hit their lowest level in two years, and freight expenditures have gone negative for the first time since the last recession.

#2 The average price of a gallon of gasoline has risen by more than 50 cents over the past two months. This is making things tougher on our economy, because nearly every form of economic activity involves moving people or goods around.

#3 Reader's Digest, once one of the most popular magazines in the world, has filed for bankruptcy.

#4 Atlantic City's newest casino, Revel, has just filed for bankruptcy. It had been hoped that Revel would help lead a turnaround for Atlantic City.

#5 A state-appointed review board has determined that there is "no satisfactory plan" to solve Detroit's financial emergency, and many believe that bankruptcy is imminent. If Detroit does declare bankruptcy, it will be the largest municipal bankruptcy in U.S. history.

#6 David Gallagher, the CEO of Town Sports International, recently said that his company is struggling right now because consumers simply do not have as much disposable income anymore...

"As we moved into January membership trends were tracking to expectations in the first half of the month, but fell off track and did not meet our expectations in the second half of the month. We believe the driver of this was the rapid decline in consumer sentiment that has been reported and is connected to the reduction in net pay consumers earn given the changes in tax rates that went into effect in January."

#7 According to the Conference Board, consumer confidence in the U.S. has hit its lowest level in more than a year.

#8 Sales of the Apple iPhone have been slower than projected, and as a result Chinese manufacturing giant FoxConn has instituted a hiring freeze. The following is from a CNET report that was posted on Wednesday...

The Financial Times noted that it was the first time since a 2009 downturn that the company opted to halt hiring in all of its facilities across the country. The publication talked to multiple recruiters.

The actions taken by Foxconn fuel the concern over the perceived weakened demand for the iPhone 5 and slumping sentiment around Apple in general, with production activity a leading indicator of interest in the product.

#9 In 2012, global cell phone sales posted their first decline since the end of the last recession.

#10 We appear to be in the midst of a "retail apocalypse". It is being projected that Sears, J.C. Penney, Best Buy and RadioShack will also close hundreds of stores by the end of 2013.

#11 An internal memo authored by a Wal-Mart executive that was recently leaked to the press said that February sales were a "total disaster" and that the beginning of February was the "worst start to a month I have seen in my ~7 years with the company."

#12 If Congress does not do anything and "sequestration" goes into effect on March 1st, the Pentagon says that approximately 800,000 civilian employees will be facing mandatory furloughs.

#13 Barack Obama is admitting that the "sequester" could have a crippling impact on the U.S. economy. The following is from a recent CNBC article...

Obama cautioned that if the $85 billion in immediate cuts -- known as the sequester -- occur, the full range of government would feel the effects. Among those he listed: furloughed FBI agents, reductions in spending for communities to pay police and fire personnel and teachers, and decreased ability to respond to threats around the world.

He said the consequences would be felt across the economy.

"People will lose their jobs," he said. "The unemployment rate might tick up again."

#14 If the "sequester" is allowed to go into effect, the CBO is projecting that it will cause U.S. GDP growth to go down by at least 0.6 percent and that it will "reduce job growth by 750,000 jobs".

#15 According to a recent Gallup survey, 65 percent of all Americans believe that 2013 will be a year of "economic difficulty", and 50 percent of all Americans believe that the "best days" of America are now in the past.

#16 U.S. GDP actually contracted at an annual rate of 0.1 percent during the fourth quarter of 2012. This was the first GDP contraction that the official numbers have shown in more than three years.

#17 For the entire year of 2012, U.S. GDP growth was only about 1.5 percent. According to Art Cashin, every time GDP growth has fallen this low for an entire year, the U.S. economy has always ended up going into a recession.

#18 The global economy overall is really starting to slow down...

The world's richest countries saw their economies contract for the first time in almost four years during the final three months of 2012, the Organisation for Economic Co-operation and Development said.

The Paris-based thinktank said gross domestic product across its 34 member states fell by 0.2% - breaking a period of rising activity stretching back to a 2.3% slump in output in the first quarter of 2009.

All the major economies of the OECD - the US, Japan, Germany, France, Italy and the UK - have already reported falls in output at the end of 2012, with the thinktank noting that the steepest declines had been seen in the European Union, where GDP fell by 0.5%. Canada is the only member of the G7 currently on course to register an increase in national output.

#19 Corporate insiders are dumping enormous amounts of stock right now. Do they know something that we don't?

#20 Even some of the biggest names on Wall Street are warning that we are heading for an economic collapse. For example, Seth Klarman, one of the most respected investors on Wall Street, said in his year-end letter that the collapse of the U.S. financial system could happen at any time...

"Investing today may well be harder than it has been at any time in our three decades of existence," writes Seth Klarman in his year-end letter. The Fed's "relentless interventions and manipulations" have left few purchase targets for Baupost, he laments. "(The) underpinnings of our economy and financial system are so precarious that the un-abating risks of collapse dwarf all other factors."

So what do you think is going to happen to the U.S. economy in the months ahead?

Please feel free to express your opinion by leaving a comment below...

HOMEBUILDING STARTS... verdict is in -- no solid recovery in play

By News & PHOTOS from NBC News, Posted in Recession / Depression
February 20, 2013, 9:09 pm CST

http://www.nbcnews.com/business/economywatch/six-year-housing-hangover-tough-shake-1C8434499?ocid=msnhp&pos=1

Is some people quitting jobs.... a RECOVERY SIGN? Could be...

By NEWS FEATURE from CNBC, Posted in Recession / Depression
February 13, 2013, 11:17 am CST

http://www.cnbc.com/id/100457099

PUBLIC SAYS The Economy Is Much Worse Than Statistics Pose

By News and VIDEO from Yahoo, Posted in Recession / Depression
February 11, 2013, 1:56 pm CST

The Great Recession may have officially ended in June of 2009 (according to the National Bureau of Economic Research), but many Americans are still extremely pessimistic about the economy. That's the conclusion of a national survey conducted by the John J. Heldrich Center for Workforce Development at Rutgers University.

VIDEO DISCUSSION:
http://finance.yahoo.com/blogs/daily-ticker/economy-much-worse-data-shows-123642950.html

Nearly 1,100 employed and unemployed Americans participated in the survey from Jan. 9 to Jan. 16. The survey's lead researcher Mark Szeltner joined The Daily Ticker to discuss the data and what it reveals about the national psyche.
Here are some of the survey's key findings:
Eight in 10 Americans are skeptical that career and employment opportunities will be better for the next generation.
More than half of Americans say the economy will not fully recover from the 2007-2009 recession for another six years; 29% believe the economy will never fully recover.
73% of Americans were directly impacted by the recession: individuals surveyed had either lost a job themselves or a family member/close relative had been out work because of the economic downturn.
The majority of survey participants said college would become unaffordable for most young Americans.
56% reported having fewer savings than before the recession.
More than half of those who were laid off or lost a job said they cut back on medical treatment or doctor visits.
40% of Americans have borrowed money from family or friends.
Nearly 25% of participants said they have sought professional help for stress or depression.
Even as the national unemployment rate has fallen from its peak of 10% in October 2009 to the current 7.9%, and there have been more than 35 consecutive months of private-sector job growth, the survey's data "speaks to the scope, magnitude and the persistence of the recession," says Szeltner. It revealed "a really depressing image of what's happening right now to many Americans," he adds.

SADLY "OFFICAL" STATS sound like hooey now: TRADE DEFICIT WHAT?

By NEWS FEATURE from VARIOUS SOURCES, Posted in Recession / Depression
February 8, 2013, 7:45 am CST

People are hardly paying attention to "offical" reports anymore because they sound like a bunch of hot air...ON THE STREET people still feel the pressure of an UNRECOVERED DEPRESSION

http://www.cnbc.com/id/100445793

Trade Gap Plunges? Really?

FED's EVANS: Jobless Rate Won't Fall to 6.5% Until Mid-2015

By COMMENTARY & ANALYSIS + from CNBC, Posted in Recession / Depression
February 7, 2013, 9:58 am CST

http://www.cnbc.com/id/100441908

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By NEWS FEATURE from CNBC, Posted in Recession / Depression
September 27, 2012, 8:33 am CDT

http://www.cnbc.com/id/49189922

US ECONOMY: Boeing Air Force One Work in Texas Stirs U.S. ConcernQ Marshall: Capitalism and Government Are Friends After AllQ 8:22 Faber: Fed Policy Will 'Destroy the World'Q Military Murder Charges Reveal Terror Groups Inside ArmyQ Chobani Billionaire Emerges as Greek Yogurt SoarsQ Romney Broadens Criticism of Obama on Middle EastQ Boeing Air Force One Work in Texas Stirs U.S. ConcernQ Marshall: Capitalism and Government Are Friends After AllQ 8:22 Faber: Fed Policy Will 'Destroy the World'Q Military Murder Charges Reveal Terror Groups Inside ArmyQ Chobani Billionaire Emerges as Greek Yogurt SoarsQ Romney Broadens Criticism of Obama on Middle EastQ U.S. Industrial Production Fell in August

By News Feature from Reuters, Posted in Recession / Depression
September 14, 2012, 1:53 pm CDT

Industrial production in the U.S. unexpectedly fell in August by the most since March 2009, highlighting risks to the economic outlook a day after the Federal Reserve boosted record stimulus.
The 1.2 percent decrease at factories, mines and utilities followed a revised 0.5 percent gain in the prior month, figures from the Fed showed today. The median estimate in a Bloomberg survey of 81 economists called for no change. Another report showed purchases cooled at retailers excluding auto dealers and gasoline service stations.
A global economic slowdown is restraining demand for U.S. exports, making it harder for companies like Texas Instruments Inc. (TXN) and Dow Chemical Co. (DOW) to expand sales. Manufacturers are also challenged by the prospect of budget cuts and tax increases set to take effect at the end of the year and consumer spending that's hampered by 8 percent unemployment.
"Manufacturing is losing momentum," said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York. "Exports will weaken further, and the consumer is in a very tough position. The economy isn't going anywhere."
Demand for riskier assets after yesterday's announcement that the Fed would buy mortgage securities sparked a global rally in stocks and commodities.
The Standard & Poor's 500 Index climbed 0.7 percent to 1,469.51 at 12:32 p.m. in New York. The S&P GSCI gauge of 24 commodities rose for a seventh day, gaining as much as 1.7 percent to its highest in five months. Spot gold touched $1,778, its highest price since Feb. 29, oil briefly topped $100 a barrel and Treasuries declined.
Consumer Confidence
Another report today showed confidence among U.S. consumers unexpectedly improved in September, boosted by gains in stock prices and home values.
The Thomson Reuters/University of Michigan preliminary index of consumer sentiment climbed to 79.2 from 74.3 the prior month. The gauge was projected to fall to 74, according to the median forecast of 71 economists surveyed by Bloomberg News.
Retail sales minus autos and gasoline increased 0.1 percent in August, less than forecast, after a 0.8 percent gain in July, the Commerce Department said today in Washington. Overall purchases increased 0.8 percent after a 0.6 percent advance.
Higher food and fuel costs along with smaller gains in payrolls and wages may take a toll on household finances, posing a challenge for merchants such as Kohl's Corp. (KSS) and Macy's Inc.
Big Purchases
Susan Smith of Memphis, Tennessee, said she and her husband haven't made any big purchases recently and have no plans to do so in the immediate future.
"We've been cutting back tremendously," said Smith, who was attending a conference in Washington. "I think the economy is still in trouble. We've not done a lot of spending, not done a lot of traveling like we've done before."
Gasoline prices are taking a toll. Regular-grade gas prices have climbed to an average of $3.87 per gallon, up 54 cents since the start of July, according to AAA, the nation's largest motoring organization.
The increase accounted for 80 percent of a 0.6 percent in consumer prices in August, the Labor Department said today. The gain in the measure of the cost of living was the biggest in more than three years.
"Gas prices make a big difference," said Terence Thompson, a landscaper from Mechanicsville, Maryland. "The cost of food has gone up, clothes -- I have adjusted a lot. I have to watch what I buy."
Household Demand
Household purchases, which account for about 70 percent of the economy, rose at a 1.7 percent annual rate from April through June, the weakest since the third quarter of 2011, Commerce Department data show.
The figures, along with a slower global economy, help explain why manufacturers are pulling back.
Manufacturing, which accounts for about 12 percent of the economy, fell 0.7 percent in August, the biggest decrease in five months, the Fed's data showed.
"Manufacturing is clearly decelerating," said Guy Berger, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut, who predicted a decline. "There is weakness all around in today's numbers. Manufacturing's contribution to the economy is coming down."
Dow Chemical, the biggest U.S. chemical maker, this month announced a new global business structure as it seeks to reduce costs and respond to softening global demand.
'Challenging Environment'
"Industries and sectors worldwide are really in the midst of what we consider an incredible challenging environment," Andrew Liveris, chief executive officer of the Midland, Michigan-based company, told investors at a Sept. 11 conference.
The same day, Dallas-based Texas Instruments, the largest maker of analog chips, said demand in all segments except for wireless is tracking below expectations this quarter.
"Almost all of them are running a little weaker than what we had expected back in July," Texas Instruments Vice President Ron Slaymaker said in a Sept. 11 teleconference with analysts. "We're just operating in a weaker demand environment."
Utility output plunged 3.6 percent, after a 1.3 percent gain the prior month. The figures may reflect some easing after the surge in July, which was the hottest month in the lower 48 states in records going back to 1895, according to the National Oceanic and Atmospheric Administration.
Mining output, which includes oil drilling, decreased 1.8 percent.
Auto Production
The production of motor vehicles and parts fell 4 percent, the most in more than a year, after increasing 2.7 percent the month earlier, today's report showed. Excluding autos and parts, manufacturing dropped 0.4 percent after a 0.2 percent gain in July.
The latest results on car purchases have been more encouraging. Autos, a source of manufacturing strength, sold at a 14.46 million annual rate last month, the fastest since the surge in August 2009 tied to the government's "cash-for- clunkers" program. They were up from a 14.05 million pace in July, according to data from Ward's Automotive Group.
The Fed yesterday announced its third round of large-scale asset purchases since 2008. Chairman Ben S. Bernanke for the first time pledged that the Federal Reserve will buy bonds until the economy gets closer to his goals, cementing his place as the Fed's most innovative chairman and signaling the battle against unemployment eclipses any concerns about inflation for now.
Job Market
A stagnant labor market may restrain household spending. Employers added 96,000 workers in August after a 141,000 increase in July. Unemployment, which fell to 8.1 percent as more Americans left the labor force, has exceeded 8 percent since February 2009, the longest stretch in monthly records going back to 1948.
"We're looking for ongoing, sustained improvement in the labor market," Fed Chairman Ben S. Bernanke said at a press conference yesterday after the central bank said it would buy $40 billion a month in mortgage-backed securities.
Slower-growing foreign markets will crimp export-related activity at U.S. factories. Exports decreased 1 percent in July as American manufacturers shipped fewer automobiles, metals and consumer goods abroad.

March Jobs Report Remains Major Point of Focus

By Headlines from CNBC, Posted in Recession / Depression
April 4, 2012, 9:41 pm CDT

March Jobs Report Remains Major Point of Focus: Weekly jobless claims Thursday is the final piece of jobs-related data in a week where traders have been counting down to Friday's March employment report.

USA Stox skid hard amind new fears of Euro collapse

By Info from News, Posted in Recession / Depression
November 9, 2011, 3:57 pm CST

Stocks fell to their worst losses since mid-August as new fears erupted that Europe's debt crisis is deteriorating, with the euro possibly falling apart as a currency.

The Dow Jones industrials ($INDU) closed down nearly 400 points, and the Standard & Poor's 500 Index ($INX) and the Nasdaq Composite Index ($COMPX) both dropped back into negative territory for the year.

A day of big losses accelerated on a Reuters report that France and Germany were working on a plan for a more integrated but smaller eurozone. The idea assumes that one or more countries (probably starting with Greece) will leave the currency union. The remaining countries would move toward deeper economic integration, including on tax and fiscal policy.

Stock prices fell more than 2% across Europe, with bank stocks in France especially hard hit. U.S. bank stocks also sold off. Commodities, including gold (-GC), silver (-SI) and crude oil (-CL), moved lower. The yield on the 10-year U.S. Treasury fell below 2% for the first time since

The Dow closed down 389 points, or 3.2%, to 11,781 after falling as many as 433 points in the late afternoon. The S&P 500 finished down 47 points, or 3.7%, to 1,229. The Nasdaq was down 106 points, or 3.9%, to 2,622.

The losses were the worst for the major averages since Aug. 18, when the Dow fell 420 points. With today's losses, the S&P 500 is off 2.3% for the year. The Nasdaq is down 1.2% for the year. The Dow is still sporting a 1.8% gain for 2011.

Exacerbating the market's woes today was General Motors' (GM) 12% profit decline that included a warning that weakness in its European business may cause the company to miss some of its 2011 profit targets. Shares fell as much as 10.9% to $22.31. In addition, Adobe Systems (ADBE) shares fell 7.7% to $28.08 after announcing reducing its profit guidance and plans to cut 750 jobs.

What's not clear is if the selling, which was panicky at times, was done by humans or by machines acting as their proxies. A counter argument is that the selling was being done by companies who had taken on counter-party risk and weren't sure they'd get their money.

Cisco Systems (CSCO) reports after the close. Shares were off 3.4% to $17.68.

No place to hide
All 30 Dow stocks were lower, with most down at least 2%. Declines in five stocks -- IBM (IBM), Chevron (CVX), Caterpillar (CAT), 3M (MMM) and JPMorgan Chase (JPM) -- contributed 145 points of the loss for the blue chips by themselves.

The best Dow performers were Verizon Communications (VZ), down 1.7% to $36.89, and AT&T (T), down 1.9% to $28,91.

Only one S&P stock was higher: Best Buy (BBY), up 1.4% to $27.22. Best Buy apparently was boosted by a note from from Cleveland Research saying channel checks by the firm confirm Best Buy may post its first monthly gain in same-store sales in six quarters.

Alibaba Group Holding (ALBCF) and Softbank (SFTBY) are talking with private-equity funds about making a bid for all of Yahoo without the company's blessing, Bloomberg News reported. The two are interested in buying back stakes that Yahoo owns in each.

Meanwhile, Vertex Pharmaceuticals (VRTX), up 1.4% to $30.86, was the only stock in the Nasdaq-100 Index ($NDX) to finish higher on the day. The index, which tracks the largest Nasdaq stocks, was down 86 points, or 3.6%, to 2,314.

Gold, silver, oil move lower
Gold settled down $7.60 to $1,791.60 an ounce in New York. Silver was down 57 cents to $34.51 an ounce. Copper (-HG) settled down 9.2 cents to $3.441 a pound.

Crude oil rallied initially after the weekly inventory report from the Energy Department showed lower-than-expected domestic supplies. But crude fell back as stocks plunged, settling at $95.74 a barrel in New York, down $1.06. Brent crude was off $2.82 to $112.18 a barrel as traders bet that Europe is heading into recession at the least.

Energy prices -- New York close



Wed.

Tues.

Month chg.

YTD chg.
Crude oil (-CL)

$95.74

$96.80

2.74%

4.77%
(per barrel)


Heating oil (-HO)

$3.0986

$3.1161

1.32%

21.81%
(per gallon)


Natural gas (-NG)

$3.6520

$3.7450

-7.17%

-17.09%
(per mil. BTU)


Unleaded gasoline (-RB)

$2.6442

$2.7064

1.48%

7.79%
(per gallon)




Brent crude

$112.64

$115.00

2.81%

18.88%
(per barrel)












Retail gasoline

$3.4300

$3.4140

-0.38%

11.65%
(per gallon; AAA)













Europe hits the banks
Today's selling began when the yield on Italy's 10-year bond topped 7% for the first time, raising worries that it won't be able to service any new debt.

The 7% level is the threshold that prompted Greece, Ireland and Portugal to seek bailouts.

Italy became a big problem a day after it wasn't a problem. The turnabout came about because it wasn't clear when Prime Minister Silvio Berlusconi would resign. He promised to do so once a new austerity law comes into being, but that could take weeks.

That Berlusconi was going to step down was the catalyst for a nice stock rally on Tuesday. He has been widely criticized for dragging his feet on getting Italy's financial house in order. And there's skepticism that Berlusconi is willing to give up his post.

"Markets are telling Berlusconi to leave NOW," New York University economist Nouriel Roubini wrote today on Twitter. "They don't buy his scheme of pretending to leave in two weeks after budget is passed."

Germany's Xetra Dax Index ($DE:DAX) closed down 132 points, or 2.2% to 5,830. France's CAC-40 Index ($FR:PX1) was off 68 points, or 2.2%, to 3,075. The FTSE MIB Index ($IT:FTSEMIB), which tracks stocks in Milan, fell 592 points, or 3.8%, to 15,072.

Shares of large U.S. banks fell in part because many have large European interests. In adddition to JPMorgan Chase, Morgan Stanley (MS) declined 9% to $15.76. Citigroup (C) slid 8.2% to $28.85. Bank of America (BAC) fell 5.7% to $6.16. Goldman Sachs (GS) lost 8.2% to $99.67.

Why GM shares fell
General Motors shares sagged after the company reported that its Europe operations lost $292 million before interest and taxes in the third quarter. GM said it no longer expects to achieve its target to break even in the region, citing "deteriorating economic conditions."

Overall, GM earned $1.7 billion, or $1.03 a share, down from $2 billion, or $1.20 a share, a year ago. Revenue was $36.7 billion. Earnings beat the Street estimate of 96 cents a share. Revenue was in line with estimates.

Europe continues to be a big drag for GM. The operation lost $300 million in the quarter, an improvement over a year ago's loss of $600 million. But the European debt crisis is hitting car sales on the continent, the company said.

Macy's, Ralph Laurel shares fall
Macy's (M) shares dropped 5.3% to $30.45 after the department-store chain offered lower guidance for its fiscal fourth quarter. The company expected earnings of $1.52 to $1.57 a share in the quarter.

Analysts have been looking for $1.60 a share.


Macy's earned 32 cents a share in the fiscal third quarter, 16 cents better than expectations. Gross margin fell 49 basis points to 39.4%, although the company's operating margin grew.


Ralph Lauren (RL) shares declined 5.7% to $149.94. The clothing retailer said it expects third-quarter sales to grow at a percentage rate of "low-teens." Analysts, on average, estimated an increase of 15%.

Adobe faces pressure on its Flash technology

Adobe Systems' 7.7% decline to $28.08 was the fourth-worst decline among Nasdaq-100 stocks and 17th worst among S&P 500 stocks.





The largest maker of graphic-design software said Tuesday it will cut 750 jobs as it lessens its focus on older products and shifts investment to programs for digital publishing and Web advertising.




Adobe plans to stop making Flash technology for mobile devices. The company is facing competition from Apple (AAPL) and Microsoft (MSFT) and an industry shift away from Flash for Internet programming. (Microsoft is the publisher of MSN Money.)





Short hits from the markets -- New York close



Wed.

Tues.

Month chg.

YTD chg.
Treasury yields












13-week Treasury bill

0.0100%

0.080%

0.00%

-91.67%
5-year Treasury note

0.862%

0.916%

-14.74%

-57.24%
10-year Treasury note

1.955%

2.065%

-10.11%

-40.85%
30-year Treasury bond

3.016%

3.125%

-5.72%

-30.86%
Currencies












U.S. Dollar Index

78.167

76.751

2.44%

-1.41%
British pound

1.5926

1.6100

-0.99%

2.05%
(in U.S. $)












U.S. $ in pounds

£0.628

£0.621

1.00%

-2.01%
Euro in dollars

$1.35

$1.38

-2.25%

1.25%
(in U.S. $)












U.S. $ in euros

€ 0.738

€ 0.723

2.30%

-1.23%
U.S. $ in yen

78.00

77.73

-0.55%

-4.13%
U.S. $ in Chinese

6.36

6.34

-0.20%

-3.81%
yuan












Canada dollar

$0.979

$0.991

-2.16%

-2.42%
(in U.S. $)












U.S. dollar

$1.022

$1.009

2.22%

2.48%
(in Canadian $)












Commodities








Gold (-GC)

$1,791.60

$1,799.20

3.85%

26.04%
(per troy ounce)












Copper (-HG)

$3.441

$3.533

-5.26%

-22.62%
(per pound)












Silver (-SI)

$34.3610

$35.1530

0.02%

11.07%
(per troy ounce)












Wheat (-ZW)

$6.4300

$6.5700

2.35%

-19.04%
(per bushel)












Corn (-ZC)

$6.5600

$6.61

1.39%

5.38%
(per bushel)












Cotton

$0.9718

0.9762

-5.00%

-32.89%
(per pound)












Coffee

$2.3345

2.3285

1.32%

-2.93%
(per pound)












Crude oil (-CL)

$95.74

$96.80

2.74%

4.77%
(per barrel)

Friday's Jobs Report: Markets Bracing for More Bad News

By Info from CNBC, Posted in Recession / Depression
September 1, 2011, 5:54 pm CDT

Friday's employment report is expected to show a gain of only 75,000 nonfarm jobs during August, with the unemployment rate steady at 9.1 percent.

While the report is always important, Wall Street and economists will pay particular attention to whether businesses pulled back on hiring last month in response to the plunge in stock prices and the gloomy economic outlook.

Recent employment indicators suggest "zero growth in private payrolls," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "If that comes to pass we are going to have some big disappointments tomorrow."

The government reported Thursday that jobless claims dropped 12,000 to 409,000 last week, offering no sign that layoffs have picked up due to slumping business and consumer confidence. But claims are still above 400,000.

Many economists have been slashing their forecasts for U.S. employment and economic growth in recent weeks. Economists at Goldman Sachs cut their forecast for August payrolls growth to 25,000 from 50,000, citing weakness in online job postings in recent months.

Even the White House issued a gloomy report on Thursday that predicted a 9 percent unemployment rate in 2012, when President Obama faces re-election.

Still, recent data suggests the July-September quarter is off to better start.

Employers added 117,000 net jobs in July, about double the pace of the previous two months. Consumer spending rose that month by the most in five months, partly because Americans bought more cars and spent more to cool their homes. And businesses ordered more goods from factories, particularly autos and airplanes.

Even so, hiring has slowed since earlier this year, and the unemployment rate remains high. The economy added an average of 72,000 jobs from May through July, down from an average of 215,000 per month in the previous three months.

More jobs are needed to fuel faster economic growth. Higher employment leads to more income. That boosts consumer spending, which accounts for about 70 percent of economic growth.