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Great Recession

U.S. Lost High-Paying Jobs, Added Low-Wage Positions, Report Finds

The Huffington Post | Lila Shapiro | Posted 05.25.2011 | Business

In the last 12 months, the U.S. economy has largely traded high-quality jobs for poorly-paid positions, according to a new report by the National Empl...

Finance's Five Fatal Flaws: William Black

The Big Picture | Bill Black | Posted 05.25.2011 | Business

What exactly is the function of the financial sector in our society? Simply this: Its sole function is supplying capital efficiently to aid the real e...

State, Local Tax Share Falls For First Time Since 2000

Posted 05.25.2011 | Business

MIAMI (By Michael Connor) - Taxes paid to local and state governments as a share of incomes fell in 2009, as taxes tumbled more quickly than wages an...

States Ignored Years Of Warnings On Unemployment Insurance

AP | KEVIN FREKING | Posted 05.25.2011 | Business

WASHINGTON — State officials had plenty of warning. Over the past three decades, two national commissions and a series of government audits soun...

China's Rapid Recovery in the Great Recession of 2007 - 2009

Nake M. Kamrany | Posted 05.25.2011 | World
Nake M. Kamrany

China's performance during the economic meltdown of 2007-2009 calls for a reexamination of the received doctrine of mainstream macroeconomic paradigms in the West.

Study Finds No Tie Between CARD Act and Higher Interest Rates

Odysseas Papadimitriou | Posted 05.25.2011 | Business
Odysseas Papadimitriou

February 22, the CARD Act's one-year anniversary, should be a day to celebrate increased transparency for millions of credit card users, not a day marred by mistakenly-placed blame.

After Fannie and Freddie Go, What's Next for the Housing Finance System?

Reid Cramer | Posted 05.25.2011 | Business
Reid Cramer

I very much appreciate situating the housing finance policy debate within a broader framework. It is a good place to start the coming policy debate.

The Next Economic Crisis

Carl Pope | Posted 05.25.2011 | Green
Carl Pope

The resource shortages that worried Theodore Roosevelt are finally here. Indians are leading worries about food inflation, but world food prices hit an all-time record last month.

A Chance to Get Some Answers for Chicago

Rev. Jesse Jackson | Posted 05.25.2011 | Chicago
Rev. Jesse Jackson

Chicago is in trouble. The Great Recession has devastated working and poor families, while worsening already severe racial disparities. So we challenge the mayoral candidates: Give us a debate worthy of a great city in trouble.

UBS Posts First Annual Profit Since 2006

AP | JOHN HEILPRIN | Posted 05.25.2011 | Business

GENEVA — Swiss bank UBS AG on Tuesday posted its first annual profit since the global financial crisis erupted, despite softer-than-expected fou...

Republican Spending Cap Would Have Caused Depression if it Were Law in 2009

Robert Creamer | Posted 05.25.2011 | Politics
Robert Creamer

As the events of the last two years should have made clear to everyone, the reasonable-sounding Republican spending proposal is actually a prescription for economic suicide.

Lila Shapiro

Missing Workers: 4.9 Million Out Of Work And Forgotten

HuffingtonPost.com | Lila Shapiro | Posted 05.25.2011 | Business

Over the last three years, nearly 5 million U.S. workers have effectively gone missing. You won't find their photos on the backs of milk cartons. ...

The Next Global Banking Crisis Is 3 Years Away, Firm Says

The Atlantic | Derek Thompson | Posted 05.25.2011 | Business

Let's start in 2011. The world is in a three-speed recovery, with Europe at the bottom, the U.S. in the middle, and Asia growing between 6 and 10 perc...

Peter S. Goodman

Goldman's Cynical Assurances Notwithstanding, The Decade is Lost Already

HuffingtonPost.com | Peter S. Goodman | Posted 05.25.2011 | Business

Step back from the ledge, America. Scotch the gloomy talk of a Japan-style Lost Decade -- Goldman Sachs says we're alright. Except that Goldman's dismissal of Lost Decade fears is brazenly self-serving. We are very much lost, and have been for decades. And we will remain so for as long as influential people pay attention to the cynical assurances of Goldman, which has mastered the art of digging us deeper into a hole, all the while selling us the shovels.

Tough Loving the New York Times -- Who's Poorer, Elders or Youth?

Paul Kleyman | Posted 05.25.2011 | Media
Paul Kleyman

Last Saturday the usually astute columnist Charles M. Blow showed even humane writers can experience statistical snow blindness at times.

Underwater Homeowners Unable to Swim to Warmer Waters?

Dr. Stan Humphries | Posted 05.25.2011 | Business
Dr. Stan Humphries

The idea that negative equity impacts labor mobility is a notion that has likely occurred to anybody who's thought about the matter for more than a couple minutes.

How A New Jobless Era Will Transform America

The Atlantic | Don Peck | Posted 05.25.2011 | Business

HOW SHOULD WE characterize the economic period we have now entered? After nearly two brutal years, the Great Recession appears to be over, at least te...

Lila Shapiro

Consumer Spending Rises, But Will Hiring Improve?

HuffingtonPost.com | Lila Shapiro | Posted 05.25.2011 | Business

U.S. consumer spending rose in December for the sixth straight month -- a sign of an improving economy, but still short of the rate of growth needed f...

How Income Inequality Helped Spark the Great Recession

Jake Whitney | Posted 05.25.2011 | Politics
Jake Whitney

Governmental policies over the past three decades have resulted in an indebted middle class. Yet a healthy society depends upon a large and vibrant one. Why aren't Americans more alarmed?

Gretchen Morgenson: In Bank Crisis Report, a Whodunit With Laughs and Tears

nytimes.com | GRETCHEN MORGENSON | Posted 05.25.2011 | Business

TRULY startling revelations were few in the voluminous report, published last Thursday by the Financial Crisis Inquiry Commission on the origins of th...

Horrible Lessons of the Great Recession Remind Us How Much More Needs to Be Done

Lisa Madigan | Posted 05.25.2011 | Chicago
Lisa Madigan

The release of the Financial Crisis Inquiry Commission's final report confirms what some of us have been shouting for the past several years: It did not have to happen, and it must not happen again.

Lila Shapiro

Economic Growth Still Not Good Enough To Dent Jobs Crisis

HuffingtonPost.com | Lila Shapiro | Posted 05.25.2011 | Business

The American economy sped up in the last three months of 2010, but economic growth is still dramatically short of where it needs to be to make a signi...

The State of Brick City

Marc Levin | Posted 05.25.2011 | Politics
Marc Levin

We're at war -- not just in Afghanistan and Iraq -- but right here on the home front, where the battle plays out at the local level across America.

GOP Austerity Plan Is an Assault on Blacks and Latinos

David A. Love | Posted 05.25.2011 | Politics
David A. Love

It is a tale of two cities in early twenty-first century America. This new wave of austerity is a con game, and it's racist too.

Letters from Victims of the Great Recession

Michael Thornton | Posted 05.25.2011 | Impact
Michael Thornton

Letters from those affected by a tragedy often have more impact than simply discussing the facts and data. That's the case with the tragic consequences of long-term unemployment.