Category: American Consumers
By Larry Doyle on Oct 30, 2009 in American Consumers, Economic Stimulus, Economy, Sense on Cents (Larry Doyle blog) | 25 Comments
What is the real economy doing? While yesterday’s GDP printed a surprisingly strong 3.5%, are we to take that on face value? If we care to most effectively navigate the economic landscape, we should dig a little deeper.
A full 2.2% of the 3.5% rise was directly correlated to Uncle Sam’s support of the auto and [...]
By Larry Doyle on Oct 16, 2009 in American Consumers, Bailouts, Bank Bailouts, Banks, Economy, Inflation, Sense on Cents (Larry Doyle blog) | 18 Comments
The American public is becoming increasingly wise to the ways of Wall Street and Washington.
Many Americans were duped by financial practices and products emanating from Wall Street. Where was Washington? I would assess Washington’s involvement and responses in the following fashion:
1. At worst, Washington was complicit given a wide array of failed public policy [...]
By Larry Doyle on Aug 28, 2009 in American Consumers, Bank Failure, Banking Institutions, Banks, Economy, Sense on Cents (Larry Doyle blog) | 21 Comments
Will the failure of a small bank in a small community truly impact America? Analysts discount the impact that the expected massive number of bank failures will have on the U.S. economy.
Additionally, analysts also discount the fact that the FDIC fund to cover depositors of failed institutions is close to zero. This fund can be [...]
By Linda Anselmi on Aug 5, 2009 in American Consumers, Economy, Linda Anselmi, Unemployment/Jobs | 23 Comments
There is a gaping hole in our recovery and more and more of Main Street America is falling through it. And that gaping hole is JOBS. Or more accurately, the place where JOBS should be.
The price of U.S. recession is paid in jobs
In the current recession, economists say high unemployment is likely [...]
By Rabble Rouser Reverend Amy on Jul 31, 2009 in American Consumers, Auto Industry, Bailouts, Congress (House & Senate), Current Affairs, Democrats, Stimulus Plan | 70 Comments
People are understandably wary about the government handling our health insurance. That would be the CLUNKER program. I trust you have heard about this? If not, here is a short review:
Okay. I can see some wisdom in that. It is great to get these old gas guzzlers off the road, [...]
By Pat Racimora on May 19, 2009 in American Consumers, Credit Card Companies, Credit Risk, Economy | 21 Comments
“Usurers” is a dirty word. In dark streets, we call them “loan sharks.” Otherwise we call them “credit card companies.” It’s shocking that the interest they can charge along with the other little gouging games they play are legal. But we do have little stones to toss at this Goliath…
By Uppity Woman on May 19, 2009 in American Consumers, Banks, Credit Card Companies, Credit Risk, Economy | 22 Comments
The Senate is getting ready to address the bill that was initially intended but they broke their promise to rein in thieving credit card companies that have taken to arbitrarily punishing good, reliable customers for their own bad management and greed. But don’t expect much So what else is new? from Congress. [...]
By Pat Racimora on May 12, 2009 in American Consumers, Bank Bailouts, Bank Failure, Credit Card Companies, Depression, Economy | 50 Comments
An optimist has been defined as one who would, should a ton of crap be dumped on his doorstep, jump right in and rummage through it, convinced that there must be a pony in there somewhere. I tend towards optimism.
So, while not for one second denying that millions of citizens have been [...]
By Larry Doyle on Apr 28, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy | 21 Comments
Can you imagine putting money into a bank and agreeing to accept a minus 5% rate of interest? Well, the Federal Reserve believes the appropriate rate of interest for this economy is in fact -5%. The FT reports, “Fed Study Puts Ideal U.S. Interest Rate at -5%.”
The world is awash in a sea of debt. [...]
By Uppity Woman on Apr 25, 2009 in American Consumers, Banking Institutions, Credit Card Companies, Larry Summers, President Barack Obama | 47 Comments
Pretty much everyone you know has already been gouged by credit card companies while the Band Played On.
Congress said nothing, the President said nothing. Nobody stopped every major credit card company in the USA from screwing with everyone’s credit scores by cranking up their interest rates in mid-stream and offering customers no options other than [...]
By SusanUnPC on Apr 23, 2009 in American Consumers, Economy, Unemployment | 30 Comments
John McLaughlin has disturbing facts on unemployment. From his PBS show:
… Four-point-four million jobs have disappeared since this recession began 15 months ago. That’s about 10,000 job losses every day — an apocalyptic rate. The result was the highest unemployment rate in 25 years, now over 8 percent.
Some economists say the unemployment is a permanent [...]
By John Batchelor on Apr 16, 2009 in American Consumers, Banking Institutions, Economy, Housing & Housing Crisis, Real Estate | 11 Comments
Calculated Risk’s choice California Jim the Realtor posts today a surprising positive indication in Chula Vista, California.
By Larry Doyle on Apr 12, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy, Open Thread, Sense on Cents (Larry Doyle blog), Wall Street | 1 Comment
BUMPED DOWN . PROGRAM CONCUDED . LISTEN to ARCHIVED SHOW!
(Editor’s Note: Paulie Abeles is taking Monday night, April 13th, off to be with family.)
Please join me Sunday evening from 8-9 p.m. ET for NoQuarter Radio’s Sense on Cents with Larry Doyle. What is truly going on in the economy? Where are markets headed? The [...]
By Larry Doyle on Apr 11, 2009 in American Consumers, Banking Institutions, Current Affairs, Economy, Equity Markets, Sense on Cents (Larry Doyle blog), Wall Street | 2 Comments
PROGRAM CONCLUDED . POST BUMPED DOWN . LISTEN to the ARCHIVED SHOW!
(Editor’s Note: Paulie Abeles is taking Monday night, April 13th, off to be with family.)
Join me from 8:00 to 9:00 p.m. ET on NoQuarter Radio for Sense on Cents with Larry Doyle. These are truly historic times in the global economy. Let’s “navigate the [...]
By Larry Doyle on Apr 10, 2009 in American Consumers, Bank Bailouts, Bank Failure, Banking Institutions, Congress (House & Senate), Current Affairs, Economic Stimulus, Economy, Obama Administration, Sense on Cents (Larry Doyle blog), Wall Street | 10 Comments
Any investor or manager with a degree of experience knows that the “first loss is the best loss.” What do I mean by that? Once the market detects a loss or a weakened position, the price for that asset will remain capped unless and until the asset is sold or liquidated. This price action [...]
By John Batchelor on Apr 9, 2009 in American Consumers, Banking Institutions, Current Affairs, Economic Stimulus, Economy, International Monetary Fund, Tim Geithner, treasury department | 7 Comments
Editor’s UPDATE: Below the fold, there’s a pithy, explanatory description of what the T.A.R.P. oversight panel (Chair Elizabeth Warren et al.) concluded in its worrisome report on Treasury’s handling (or not) of the economy’s downturn.
John Batchelor: From my blog. Don’t miss Larry Johnson on my show Sunday nights. Watch for NoQuarter’s promo on Sundays.
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By SusanUnPC on Apr 9, 2009 in American Consumers, Current Affairs, Economic Stimulus, Economy, Inflation, Tax Day, Tax stimulus package | 23 Comments
In “President Obama’s Ambitious Agenda on Crash Course With Fiscal Realities,” Stu Varney, on Fox News’s America’s Newsroom, exposed a ruinous weakness in Obama’s reckless, contraindicated spending spree: Tax revenues are down 25% (!), and April 15th is NOT going to be a lucrative day for the U.S. government. With escalating unemployment, and more and [...]
By SusanUnPC on Apr 8, 2009 in American Consumers, Auto Industry, Economic Stimulus, Economy, Michigan, Unemployment, Workers | 16 Comments
Of course, if you’re Rosily The Riveted ‘Bot Rachel Maddow, you optimistically title the segment, “Things Are Looking Up?.” Dear readers, please wade through the gushing over Obama’s visit to Iraq to get to Nobel Laureate Paul Krugman; it’s worth it because the economist and NYT columnist covers a lot of territory, including the Treasury [...]
By Larry Doyle on Apr 8, 2009 in American Consumers, Bank Bailouts, Banking Institutions, Economy, FASB, Mortgage Crisis, Sense on Cents (Larry Doyle blog), Toxic Assets, Wall Street | 12 Comments
In thinking about the economy, markets, and our banking system, my memory brings me back to my early days in New York. While working my way along 8th Avenue back to my apartment in Hell’s Kitchen, I would happen upon numerous versions of the classic NYC “hustle.” The shell game (also 3 card monte) was [...]
By John Batchelor on Apr 7, 2009 in American Consumers, Banking Institutions, Economic Stimulus, Economy, Tim Geithner, Toxic Assets, treasury department | 2 Comments
From the John Batchelor Show blog. Susan’s Note:I can’t state enough how important it is to read this article.
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Pirate Bankers Rising.
Francesco Guerrera, FT, reported to my financial roundtable on the show, Sunday 5, that the bankers are preparing to game the junk assets on their books. Here is the part of the scheme that [...]
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