For more years than I can remember, Michael Hodges, publisher of the Grandfather Economic Report, has been doing his best to try and frighten some sense into those who were (and still are) in denial ...
Sound familiar? [italics mine] "Europe Strains Global Markets" (Wall Street Journal) Global markets are showing some signs of stress not seen since the 2008 financial crisis amid alarm at the...
Its been said that alcohol and sex are not a good mix. If the following reports are any guide, it appears that the bad economy is leading many people to take that message to heart. 1. "U.S. Alcoh...
Notice a pattern here? "Freddie Mac Has Wider Loss, Seeks $6 Billion From Treasury" (Bloomberg) Freddie Mac, one of two mortgage- finance companies under U.S. conservatorship, reported a $4....
When I created the Financial Armageddon blog in December 2006 and published my book of the same name in March 2007, some commentators accused me of fear-mongering and being prone to hyperbole. Nowad...
Along the lines of what I discussed on Friday, here are two reports from the Wall Street Journals online edition citing analysts with decidedly different views on the outlook for the U.S. economy: &#...
(Image: source) CNBC.com features two interviews with well-known commentators that offer contrasting perspectives on what ails the U.S. economy: "Fear Factor Biggest Threat to US Economy Now: Wel...
Good news abounds -- "Jobless Claims Tumble in Upbeat Sign for Economy" (Msnbc.com) New claims for unemployment benefits dropped in the latest week, in a sign that businesses may be picking u...
As weve seen with the jobless rate, where the broadest measure of unemployment is 80% higher than the headline statistic, and with retail sales, where the reported figure is much less than it seems w...
In his latest Weekly Market Comment, John Hussman, president and principal shareholder of Hussman Econometrics Advisors, the investment advisory firm that manages the Hussman Funds, adds another laye...
According to the mainstream media (and their so-called experts), the "data" indicates that things are getting better. "US Job Market Improving" (Associated Press) Modest gains seen as...
Although Ive written a number of posts over the past five years chronicling Americas relentless slide from leader of the free world to leading banana republic -- see here, here, here, here, here, her...
In "Lumbering Lower," I suggested that one widely followed economic indicator, the National Association of Purchasing Management Index, was heading into contraction territory. In fact, PMI re...
If Wall Street was disappointed by the latest reading of the Institute for Suppy Managements Manufacturing Index (ISMMI), announced this morning, just think how theyre going to feel when the indicato...
pole·ax verb /ˈpōˌlaks/ poleaxed, past participle; poleaxed, past tense; poleaxes, 3rd person singular present; poleaxing, present participle 1. Hit, kill, or knock down with or as if with a poleax 2...
The bulls will tell you that the statistics paint a picture of an economy that is in recovery. However, when you sift through the data and factor in well-known realities, such as the fact that consum...
While housing starts, new home sales, existing home sales, and homebuilder sentiment, have largely gone nowhere since the 2006-2009 crash, and supply-and-demand fundamentals continue to support a pes...
And the number one reason why a double-dip recession -- or, more accurately, another leg of the still-unfolding multi-year depression -- is guaranteed to arrive is... ...the latest pronouncements of ...
(Image: source.) Thanks to policies that have damaged our economys underpinnings, caused significant hardship to everyone but the rich, and triggered a mad dash for assets that provide some measure o...
I must admit I didnt see this Walt Handelsman cartoon the first time around, but its just as relevant (and humorous) as it was a year ago. Double Trouble (Hat tip to UpsideTrader.)
After only a minor lull, our cheerleader-in-chief is back in action. "Obama: No Double Dip Recession Likely" (UPI) U.S. President Barack Obama says the chances for another recession are not l...
(Image: source) Hold on...let me start with the fingers on my left hand...one, two, three, four, five...now on to the other ...six, seven, eight, nine, ten...and then to my right foot...eleven, twel...
(Image: source) In "Walmart Warns on US Weakness," the Financial Times provides some front-line commentary on how the consumer is really doing nowadays: Walmart, the biggest US retailer by re...
As with todays "unexpectedly" weak Empire State Manufacturing Survey, the various regional Fed surveys keep singing a familiar tune -- Rollin, rollin, rollin...over.
(Image: source) Looks like Americans are really getting fired up about the coming boom... "Booming Business of Fear: Sales of Safes Soar" (CNNMoney) Amid the market turmoil, sales of securit...
While todays focus was on "unexpectedly" weak data detailing the rapidly souring mood of the American consumer -- "Economic Slowdown Expected by Consumers" (Thomson Reuters/University...
In "Anarchy and Austerity: Why London Wont Be the Last City to Burn," The Atlantics Derek Thompson touches upon what has been a key underlying theme of my second book, Financial Armageddon, a...
Something tells me that this -- "Most Americans Cant Afford a $1,000 Emergency Expense" (CNNMoney) When the unexpected strikes, most Americans arent prepared to pay for it. A majority, or 64%...
Every once in a while I like to post a collection of recent reports that should, in theory, help to undermine the enthusiasm that so many in Washington and on Wall Street have for the notion that the...
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