The Great Recession Blog

In predicting for 2012 that the U.S. economy would get worse and that the world would continue to drift deeper into the Great Recession, I also said that the small unemployment improvements that everyone crowed about over the holiday season would unravel as temporary workers were laid off. That did happen for the first couple […]

It was a big news week with jobless claims following my predictions for the first part of the new year and rising due to layoff of seasonal jobs. Those trying to resolve the euro crisis continued to find no traction for their efforts. The Federal Reserve hinted at a possible third round of quantitative easing, […]

Last week was a slow news week when it comes to the economy. Nothing continued to happen just as nothing has happened for months with respect to any resolution on the euro crisis. Businesses turned in mixed results for the year, but mildly better in some quarters than expected. The Iranium Reaction continued to simmer. […]

The big news of the past week was that Standard and Poor’s followed through on downgrading the credit ratings of several European nations. European leaders responded with indignation as they fortified their delusion that they should be forever above credit downgrades so long as they are “working” on a solution. Beyond the borders of Delusia, […]

The new year started off mildly as people digested their New Year’s Day meals along with the economic news. People are watching and waiting to see what the year 2012 will bring. For the U.S., signs of thaw appeared in the foreground, but on the European horizon hovers a foreboding storm — a sort of […]

The last week of the year ended flat. U.S. stocks, after months of near-record volatility, ended the year about where they began. Jobs, likewise, did not improve all year. A slight jobs uptick fed the market bulls, but it means little, as one should expect a temporary rise due to holiday hiring in the retail […]

To recap last week’s economic news: Concerns over the euro crisis continued to worsen. The BBC laid out a doomsday scenario for the eurozone. China explained why it is not ready to sign on to the euro deal. The U.S. stated no further help would be forthcoming, and credit agency, Fitch, concluded a comprehensive solution […]

I’m going to start posting a weekly recap of the economic news headlines. These headlines of news articles and their summaries come and go from the sidebar, so not everyone sees them on the particular day they tune in. This is a chance to make sure you didn’t miss any of the major economic news […]