Effect of Government Takeover of Home Mortgage Market
The Washington Post reported September 7 that the federal government is now guaranteeing 86 percent of all new home mortgages, as default rates continue to increase and threaten to require...
Sectors
Unemployment Continues to Climb
The U.S. Labor Department reported unemployment rose to 9.7 percent during the month of August from 9.4 percent, the highest unemployment rate in 26 years. “Nonfarm payroll employment continued to decline...
FCC to Investigate Wireless Industry
The Federal Communications Commission is launching an investigation of the nation’s wireless industry to root out any anti-competitive practices and to decide what regulations should be imposed for the supposed benefit...
Fed Official Admits 16% Unemployment
The real number of unemployed in the United States is far more than the federal government’s official count and the recovery could be long and tenuous, a Federal Reserve official told...
Cash-for-clunkers Sputters to a Close
Like one of the old jalopies it is supposed to remove from the road, the $3-billion cash-for-clunkers program sputtered to a close on August 24. The allegedly successful boost to the...
Stimulus Grants for Batteries and Green Cars
Last week, the Obama administration revealed the 48 recipients of $2.4 billion in federal grant money supposedly designed to stimulate domestic production of batteries and other "green" car components while saving...
More Unemployed, Yet Unemployment Rate Drops
Unemployment numbers ticked upward during July at a much slower pace than past months, leading many establishment forecasters to conclude that an economic recovery had already begun. The official unemployment rate...
First-time Unemployment Claims Up
First-time unemployment claims continue to increase at a faster pace than expected. “The Labor Department said the number of claims in the week ending July 25 rose by 25,000 from an...
Another Minimum Wage Hike: But Will It Help?
In another example of turning lemonade into lemons in economically troubled times, the federal minimum wage increased yesterday from $6.55 an hour to $7.25 an hour. It's certainly a fashionable measure,...
Media Raising Concerns Over Goldman Sachs’ Gov’t Influence
Even the mass media is starting to take notice of the longtime cozy relationship that both the U.S. Treasury Department and the Federal Reserve Bank have with Goldman Sachs, a major...
Obama Weighing Homeowner Bailout Proposal
“U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by renting their home instead,” Reuters Wire Service reported July 14. ...
Bailing Out Minority Broadcasters
If you understand the relative superiority of the free market, none of our government's recent business bailouts will find favor with you. Yet, while Uncle Sam's involvement in the auto and...
BusinessWeek Could Sell for $1
With plunging advertising revenue across the industry, McGraw-Hill is reportedly putting BusinessWeek up for sale. The company said only that it is exploring “strategic options” for the magazine so far, but...
The New GM: Image vs. Reality
After a mere 40 days under bankruptcy protection, a “new GM” has emerged amid promises from CEO Fritz Henderson to operate more profitably and competitively in the future. ...
The New Public-Private (Mostly Public) GM
Weeks before it was supposed to happen, a bankruptcy judge has approved the restructuring of large portions of once-mighty GM and the liquidation of the automaker’s remaining assets. Under the plan,...