iOS app Android app

US Economy

And the Latte Indicator Says...Economy Screwed

Henry Blodget | Posted 05.25.2011 | Business
Henry Blodget

How bad is the economy these days? So bad that one of the nation's largest purveyors of custom-made addictive drugs is slashing its forecast yet again as customers tighten their belts.

Pennsylvania Exit Polls: 9 In 10 Americans Think US In A Recession, Bush Says "We're Not"

Huffington Post | Posted 05.25.2011 | Politics

With the Pennsylvania primary voting under way today, early Pennsylvania exit polls are showing that 9 out of 10 people think the country is in a rece...

Recession Odds Rise Sharply Among Economists

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The odds the country will fall into its first recession since 2001 are rising sharply. Thirty percent of economists now believe the...

Candidates Find Economic Issues Tricky To Address

Washington Independent | Mary Kane | Posted 05.25.2011 | Business

As Sen. Barack Obama has learned in recent days, it's easy to slip up when taking on economic issues in a political campaign. From Walter F. Mondale ...

Economist Jeffrey Sachs: "We'll Get Out of This Mess"

Michelle Haimoff | Posted 05.25.2011 | Business
Michelle Haimoff

Sachs described our current economic situation as "intentional" and pointed fingers at Alan Greenspan, The Fed, and an unpopular and weak administration that is "financing a war that nobody supports."

Buffett: I Am A "Political Bigamist"

CNN/Money | Nicholas Varchaver | Posted 05.25.2011 | Business

Some 15 times a year, Warren Buffett invites a group of business students for an intensive day of learning. Fortune was there for a recent visit. His...

Consumer Confidence Hits 26-Year Low

Reuters | Posted 05.25.2011 | Business

Disappointing first-quarter earnings from General Electric Co (GE.N: Quote, Profile, Research) and a drop in U.S. consumer confidence to its lowest in...

Pathetic GE: Blame Bear Stearns For Our Mess

Silicon Alley Insider | Michael Learmonth | Posted 05.25.2011 | Business

Good news for NBC U: they're not GE's (GE) only problem anymore. Bad news for GE: CEO Jeff Immelt suddenly sounded like the just another American CEO,...

Why Hedge Funds Are Losing Money In Today's Market

Portfolio | Felix Salmon | Posted 05.25.2011 | Business

Insight from Baruch: The strategists at my beloved employer told the punters, correctly, that this year would see a lot of volatility in equities...

Bernanke Joins J.K. Rowling As Harvard Class Day Speaker

Harvard Crimson | ADITI BALAKRISHNA | Posted 05.25.2011 | Business

Chairman of the Federal Reserve Ben S. Bernanke '75 will take to the steps of Memorial Church in June as this year's Class Day speaker, the University...

What Recession? Super Wealthy Line Up For Souped-Up Jets

Posted 05.25.2011 | Business

While most of the world is starting to pinch pennies and monitor their savings in light of the current (or looming, depending on who you ask) recessio...

Consider Yourself Middle Class? Think Again

Chicago Tribune | John Keilman and Gerry Smith | Posted 05.25.2011 | Business

A new report by the Pew Research Center highlights a paradox of the American middle class: Most people, no matter where they fall on the economic spec...

Greenspan Would Make Mentor Rand Proud

Washington Independent | Mary Kane | Posted 05.25.2011 | Business

He can spin all he likes, but many are not buying former Federal Reserve Chairman Alan Greenspan's attempts to distance himself from the housing crisi...

Boom Leaves Middle Class Behind

New York TImes | DAVID LEONHARDT | Posted 05.25.2011 | Business

How has the United States economy gotten to this point? It's not just the apparent recession. Recessions happen. If you tried to build an economy imm...

Greenspan: Blaming Me For Mortgage Mess Is "Quite Unfair"

Wall Street Journal | Greg Ip | Posted 05.25.2011 | Business

Alan Greenspan's reputation is under siege, and he's incredulous. Hailed three years ago as "the greatest central banker who ever lived," the retired...

IMF Predicts Mortgage Crisis Could Cost $1 Trillion

International Herald Tribune | Posted 05.25.2011 | Business

The International Monetary Fund said Tuesday that financial losses stemming from the U.S. mortgage crisis might approach $1 trillion, citing a "collec...

A World Where Money Grows On Trees?

Stanley Bing | Posted 05.25.2011 | Business
Stanley Bing

In the virtual universe, a cornucopia of colorful opportunities await!

Best Cities For Home Sellers

Forbes | Matt Woolsey | Posted 05.25.2011 | Business

Though luxury home buyers took a big bite out of the Big Apple last year--properties in the Plaza Hotel and condos along Central Park West sold for re...

Greenspan: Economy In Recession

Reuters | Posted 05.25.2011 | Business

Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economy was in recession, and said it would be appropriate to tap public funds...

Poll: Iraq War Affecting Economic Downturn, Say 9 In 10

CBS News | Posted 05.25.2011 | Politics

According to a new poll by CBS News, 89% of Americans think that the Iraq War has contributed to the country's economic problems. Americans surveyed ...

Job Winners and Losers in Hard Times

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

WASHINGTON — Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and une...

Democrats Push For New Aid Package Following Job Losses

New York Times | LOUIS UCHITELLE | Posted 05.25.2011 | Business

The nation's employers eliminated tens of thousands of jobs for the third month in a row, the government reported Friday, and top Democrats immediatel...

Poll: 81 Percent Of Americans Think Country On "Wrong Track"

Reuters | Posted 05.25.2011 | Business

Four out of five Americans believe things are "on the wrong track" in the United States, the gloomiest outlook in about 20 years, according to a New Y...

McCain: I Know The Economy Better Than Clinton, Obama

Reuters | Posted 05.25.2011 | Business

John McCain on Thursday rejected criticism from his Democratic opponents over his experience on economic issues, saying that he understands the subjec...

Northwest Raises Fares, Freezes Hiring

AP | JOSHUA FREED | Posted 05.25.2011 | Business

MINNEAPOLIS — Fuel isn't getting any cheaper, so Northwest Airlines Corp. is going to make flying a little more expensive. Northwest has raised...