Tag Archives: Economy

Mid-Week Update

Finally found a few moments to wade through the wonderful world of blogging, and stumbled on a few things that really caught my eye.  I know I’ve been bad about updating lately, and I apologize.  Now, start reading.  And, don’t be afraid to leave a comment along the way.

English Only Rule Aimed at High School Valedictorian

The folks of Terrabone Parish in Louisiana want to cultivate their image as being backwards. Their lack of values are showing. Now they are set to require all speeches be made in English after the Valedictorian included a sentence of Vietnamese in hers — she did so to honor her parents, proving her own strong values.

McCain gets ‘visibly angry’ when challenged on whether military experience prepares him to be president.

ABC News’ David Wright reports that when he asked John McCain to “explain how his Vietnam experience prepared him for the presidency,” McCain “became visibly angry”: McCain became visibly angry when I asked him to explain how his Vietnam experience prepared him for the Presidency. “Please,” he said, recoiling back in his seat in distaste at the […]

Bush Stimulates The Porn Industry With His Economic Package

When President Bush announced his economic stimulus in January, he bragged that his package was the “right size” and would “boost” the economy: I am pleased that this agreement meets the criterion that I set forth last week to provide an effective, robust, and temporary set of incentives that will boost our economy and […]

Friday Night Economy

As if all the other news (Russert, tornadoes, floods) wasn’t bad enough, here’s a tasty tidbit from the economic front.

US Foreclosure Filings Surge 48 Percent In May

Soaring foreclosures are continuing to raise questions about the mortgage industry’s claims that they are making a dent in the housing crisis. Foreclosure filings last month were up nearly 50 percent compared with a year earlier. Nationwide, […]

Setting Up For Monday

This kind of report doesn’t bode well for influencing the stock market in a good way Monday.

Credit Crisis Expands, Hitting Wide Swath Of Consumers

The credit crisis triggered by bad home loans is spreading to other areas, forcing banks to tighten credit and probably extending the credit crisis that’s dragging down the economy well into next year, and perhaps beyond. That means consumers are going to have an increasingly difficult time getting bank loans for car purchases, credit cards, home equity credit lines, student loans and even commercial real estate, experts say. When financial analyst Meredith Whitney wrote […]

Sunday Almost-Afternoon

Slow and lazy Sunday morning. The coffee was unusually decent. The air continually hot and muggy. It’s taken me 20 years, but I’ve finally discovered how to effectively utilize all of the ceiling fans in the house. The air conditioners seem to be running much less than usual, despite the 90 degree weather.

Now, if I could just do something about gas prices.

$4 A Gallon: National Gas Price Average Reaches Record

Drivers are paying an average of $4 for a gallon of gasoline for the first time. AAA and the Oil Price Information Service say the national average price for a gallon of regular gas rose to $4.005 overnight from $3.988. But consumers in many parts of the country have already […]

McCain And The Bush Economy

Care to weed through the details? This makes my head hurt.

After biggest unemployment jump in 22 years, McCain vows more of the same

On the economic front, the news is “ugly.” The nation’s unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs. The latest snapshot of business conditions showed a deeply troubled economy, with dwindling job opportunities in a time of continuing hardship in the housing, credit […]

Tough Talk

If I was a reporter for a Tribune paper, I’d be worried. VERY worried. I’ve never heard such tough talk about job cuts.

Tribune Planning Big Cuts: Fewer Papers, Firing Reporters

Tribune Company newspapers like The Los Angeles Times and The Chicago Tribune will quickly cut costs — by printing fewer papers and employing fewer journalists — top company executives said on Thursday. Samuel Zell, the chairman and chief executive of Tribune, and Randy Michaels, the company’s chief operating officer, revealed the cuts during […]

Friday Follies For June 6

I have some running around to do today, so posts may be sparcer than they have for the first part of the week. I’m thinking about some options to move the blog to a platform that offers some more options, in terms of content and monetization. If you come here via www.dougkrile.com, you won’t miss a thing. At any rate, it’s not going to happen right away!

Today, it’s all about the economy. Unemployment rate is up. Stocks are down. Oil prices are up. It’s just downright depressing. But, the hits just keep on coming.

Banks now facing new real estate financial problems

Subprime loan defaults were bad enough, but now banks are dealing with fire sales to unload hundreds of millions and billions of dollars worth of loans to the real estate construction business. The bubble that Greenspan and the Republicans created has ravaged the system in countless ways that will not just go away. Remember, this is what […]