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Economic News Articles in The Great Recession Blog, week of 06/10/2012

The euro crisis dominated economic news and set the stage for the summer I have been anticipating. Stocks fell; unemployment climbed; sales dragged; manufacturing sluffed off; consumer spending receded. Interest on the U.S. debt also ticked upward when the annual deficit soared over the trillion-dollar barrier for the fourth straight year. And that was just one week!     […]

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Economic News Articles in The Great Recession Blog, week of 06/03/2012

Has anyone noticed the silence? Week after week the news screeches like relentless train wheels about the scurrying of European leaders in and out of meetings to resolve the latest failure of their efforts to round up their endless troubles. Yet, every week, at the same time,  you hear no sound of U.S. leaders scurrying […]

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Economic News Articles in The Great Recession Blog, week of 05/27/2012

Bullheaded optimism presses on in the news. This week the Economic Times reported… “The bullish momentum on Wall Street extended Tuesday’s gains, when the Dow rose 0.2 percent, snapping a four-day losing streak.” Perhaps they mean the market is now “climbing at the speed of an ox cart.” It nearly crashed last week, completing the erasure of […]

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Economic News Articles in The Great Recession Blog, week of 05/20/2012

At the start of last week, economists were feeling rosy. They thought housing was up, and the stock market was up after a long fall. They even thought the job market was doing better. Meanwhile, I continued to wonder why they continue to get paid. 

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Economic News Articles in The Great Recession Blog, week of 05/13/2012

At the beginning of last week a big financial advisor proclaimed that the markets’ little downturn meant nothing. The market would go right back up. He was certain that Europe’s problems that week would quickly be yesterday’s worries. He gets paid too much to be that certain about that much and be that wrong. I […]

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Economic News Articles in The Great Recession Blog, week of 05/06/2012

The news of the week centered on Europe where no one knows how to clean up the Greece stain that smears the euro image. Greece ironically elected Nazis to fight German austerity last week. France joined in the fight with a hard left-wing punch to Sarkozy, knocking him flat on his French derriere and replacing him with […]

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Economic News Articles in the Great Recession — Archive for the week of 04/29/2012

The first and most notable thing I did while working on this website last week was laugh at the optimistic headlines I was posting. MSNBC reported, “New claims for unemployment benefits tumbled more than expected in the latest week, raising hopes that the job market remains on the mend.” NPR reported the same story this way: […]

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Economic News Articles in the Great Recession — Archive for the week of 04/22/2012

Splintering sounds ruptured the euro zone as it, again, became the big leader in economic news last week. The prior week emitted a couple of loud cracks when Spanish bonds sailed to unsustainable heights. This past week the austerity pact, which was intended to stabilize those bond prices, became the new threat. Political instability broke […]

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Economic News Articles in the Great Recession — Archive for the week of 04/15/2012

None of the many reversals of fortune in the past week’s economic news was unexpected by readers of The Great Recession Blog. So, stay tuned, and you’ll continue to read the headlines before they happen! In the meantime, here are the headlines after they happened with a little commentary to make sense of them: Last week’s summary […]

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British Reporters More Truthful About American News than American Reporters

I have heard people say for decades that, if you want objective news about America, you have to turn to the European press. As an American, that used to gall me more than the French with their snotty attitudes about everything that’s … well, not French. This week, however, seems to be providing plenty of […]

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Economic News Biased by Relentlessly Rosy Glasses

Today is one of those days where I read conflicting headlines and reporting on the economy that are so rosy they make my eyes red. The writers of economic news must be guided by some angel of relentless sunshine. They almost gag themselves, trying to swallow bitter pills while smiling. Examples of news bias in […]

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Economic News Articles in the Great Recession — Archive for the week of 04/08/2012

Pessimism is creeping back into the U.S. business world, and even the Fed is now warning, as I did earlier, that student loans are in danger of becoming another economic crisis. This is the climate where desert dwellers like me thrive. According to the Federal Reserve last week, nearly one third of all student loans […]

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Economic News Articles in the Great Recession — Archive for the week of 04/01/2012

If you’ve been following The Great Recession Blog, others are surprised by the jobs report at the end of last week, but you are not. You saw it coming. The year is already looking like a repeat of 2011 where all the experts were excited that

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Economic News Articles in the Great Recession — Archive for the week of 03/25/2012

Here are the points you might want to take home with you from last week’s news. First, the stock market is not indicative of where the economy is going. For part of the week it was jumping up, and for part of the week, it was stomping down. Which part would indicate where the economy […]

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