This from WFMY TV Channel 2 in Florida: Have you heard the one about a homeowner foreclosing on a bank? Well, it has happened in Florida and involves a North Carolina based bank. Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank. It started five months ago … Continue reading Finally Some Justice for a Homeowner
Calculated Risk sums up recent oil and gas prices nicely a few days ago (bold emphasis mine): Oil and gasoline prices are probably the biggest downside risk to the economy right now. Oil prices are off slightly today, from the WSJ: Oil Prices Ease The front-month July Brent contract on London's ICE futures exchange was recently down 35 cents, or … Continue reading What’s Up With Oil and Gas?
I missed posting this a few days ago. Bureau of Economic Analysis says first revision of the GDP estimate for 1st quarter 2011 was essentially unchanged from the initial "flash" estimate provided at the end of April. The U.S. economy grew at approx. 1.8% annual rate. While the overall growth rate was unchanged, there was … Continue reading GDP 1st Qtr 2011 – Revised
It's not just the lack of jobs that's hurting workers. Even those workers who have jobs are suffering from a historic lack of wage growth. Workers' wage growth over the last ten years has been lower than even the Great Depression. The American dream of "doing better than Dad did" is effectively over. For the … Continue reading The Depression in Wages: End of the American Dream