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Tag: moneynews

Author James Rickards: Global Economy Is in ‘Indefinite Depression’

By Dan Weil It wouldn't be fair to call ace money manager James Rickards an optimist about the global economy. "We are in a depression. This is a global depression," the author of "The Death of Money: The Coming Collapse of the International Monetary System" told RT news service. "It started in 2007, and it is going to continue indefinitely. Depressions are structural, monetary solutions are[...]

Census Bureau: Household Income Continues to Stagnate Under Obama’s Watch

Household Incomes Nearly Flat in 2013, While Poverty Dips Slightly The share of Americans living in poverty fell last year for the first time since 2006, a sign an improving economy was finally trickling down to the country's least fortunate households. Still, the figures from the Census Bureau on Tuesday also showed the average person's income was essentially flat in 2013 when taking into[...]

Real Unemployment Rate Is at Least 18 Percent – Ergo, Entitlement Money Printing Can’t Stop

Tuesday, 29 Jul 2014 By Peter Morici The Labor Department on Friday is expected to report the economy added 235,000 jobs in July, and the unemployment rate remained steady at 6.1 percent, but that hardly tells the story. The jobless rate may be down from its recession peak of 10 percent, but much of this results from adults, discouraged by the lack of decent job openings, have quit altogether.[...]

Peter Morici: Washington Debauchery and Fed Follies

Monday, 14 Jul 2014 09:12 AM By Peter Morici Federal Reserve Chairman Janet Yellen will testify to Congress Tuesday and Wednesday about the economy and future Fed policy. We won't learn much about either, because the Fed refuses to recognize the facts on the ground. Its policymaking committee recently stated inflation is below 2 percent. Yet, according to the Bureau of Labor Statistics, consumer [...]

Why Jobs Are Scarce, Wages Low and Government Can’t Help

Thursday, 10 Jul 2014 - By Peter Morici Americans keep hoping for a robust recovery — one that delivers better-paying jobs and decent returns on retirement savings. Changes in technology and the economy may require that never happens, and government efforts to improve conditions often multiply the misery. In 1908, Henry Ford had a great idea — the Model T — and a novel understanding of[...]