The Great Recession Blog

One reason I started my own economics blog was because of how tired I was of reading government-regurgitated half truths about the economy. Nothing has changed. As Newsmax and other publications report this week that July was a bumper month for lower-wage earners, I continue to have to sift for myself through all the glitter […]

The following is a guest editorial from one of The Great Recession Blog‘s faithful readers who prefers to simply go by his pseudonym “Auldenemy.” I wanted to share it here because it offers observations from the UK — the first nation to exit the EU — that closely parallel the immigration issues that fueled Donald Trump’s […]

In the fall of 2015, I said the Federal Reserve would raise interest rates once in December then would not be able to fly any higher thereafter. The stock market would crash shortly after the Fed pulled up on the interest stick (which it did in what became the worst January in stock-market history), and then the Fed’s hopes […]

Even the Tweedledumbs of Wall Street are finally catching on to the fact that global economic collapse is happening all around them. Two weeks ago, they could have stood inside the building shown on the left with their nicely polished, rose-colored glasses and seen only signs of an improving housing market. Now enough shingles are falling on their […]

Current projections are dim. Challenging times loom large…. There’s little doubt there is a global jobs crisis,” said the World Bank’s senior director for jobs. “Disturbingly, we’re also seeing wage and income inequality widening.” (Yahoo News)   The World Bank’s report, compiled by the International Labour Organisation (ILO), also stated that, despite a modest economic recovery in […]

This is a drum I’m going to beat for awhile: People need to stop listening to economists who are fixated on statistics like Gross Domestic Product or job gains as an indicator of where the economy is going. People need, instead, to read this blog if they want to know where the global economy is going. […]

President Obama is waving the white flag of amnesty for illegal immigrants taking jobs from U.S. workers. He deliberately entices cheap labor into the U.S. by promising that a path to citizenship will be coming soon. He waves that flag high enough to be certain that willing takers from countries south of the U.S. border will see it. […]

Today, I could not just put the jobs report data in the sidebar of economic news as usual because there was so much spin all over the place that I thought it all deserved an article introducing the way the jobs data news is spun.

You may not be able to save the country from its uninspired politicians or the world from bankers gone bonkers, but you can creatively employ a period of recess like the Great Recession toward enhancing your own life. I know that is what I am doing. I’m creating writing opportunities out of these days of […]

The difference between a recession and a depression is whether you are in it or looking back at it. “Depression” is the D-word no one wants to use for their own time. It is kept at bay by another D-word – “Denial.”  If the government believed as it said that the recession ended in June of […]

Here are the glossed-over facts behind today’s vaunted news about unemployment, which has kept the stock market dancing in delirium. After a year of remaining stuck above 9%, the unemployment rate dropped in November to 8.6%, and the stock market was able to sustain yesterday’s drunken stupor. What is not immediately clear in these reports […]

The fickleness of the stock market as a predictor of the economy versus just a responder to the economy played out clearly in the past week. On March 5th, CNN reported that the market had broken a five-day losing streak, bouncing off of twelve-year lows. “The markets opened higher and never looked back, following reports […]