Tag archive for ‘economy’
National economic trends hit home
With the state unemployment rate at 8.9 percent in August, foreclosure rates skyrocketing, and an insufficient minimum wage, Michigan’s economy is facing what financial analysts are calling the worst recession since the Great Depression, an outcome that has been developing for nearly a decade.Analysts at the University of Michigan say the state has endured seven [...]
Let Wall Street crash. Yeah, I said it.
What this country needs is a good depression. The longer the better. For the past week, the entire nation or, “Main Street,” as our illustrious leaders call it, has watched helplessly as the market has tanked and the government politicizes a response of unprecedented scale.
Media War ‘08: McCain 0, Obama 3
Phil Gramm said today that America is in the midst of a “mental recession.” The McCain campaign says “Phil Gramm’s comments are not representative of John McCain’s views.” If that’s true, then why is Phil Gramm serving as McCain’s economic adviser?
JPMorgan: “The recession just started.”
Despite continued optimism from the federal government and some improving indicators in last month’s national economic report, with skyrocketing gas prices and a housing market still in freefall, American consumers remain on edge.
According to JPMorgan Chase & Co. CEO James Dimon, the fear is well-founded.
“Even if the capital markets crisis resolves,” he told a UBS [...]
President Bush approves economic stimulus
President Bush today signed into law the Economic Stimulus Act of 2008, terming it a “booster shot” for the struggling American economy. The centerpoint of the bipartisan measure is the injection of more than $120 billion into the hands of American taxpayers, with the hopes that such rebates will fuel increased consumer spending and avert [...]
Michigan one of two states to lose population in 2007
The United States Census Bureau reported today that Michigan is one of only two states to lose population in 2007, sharing the dubious recognition with Rhode Island. According to the estimates, Michigan lost about three-tenths of a percent of its population, or approximately 30,500 people. Just over ten million people reside in the state.
The report’s [...]
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