Recession’s job losses likely to rise by nearly 1 million

As bad as the government’s jobs readings numbers have been during the Great Recession, we’ll soon find out the real situation likely was worse.
Much worse.
Job losses during the recession may have been underestimated by close to a million jobs. So instead of employers cutting just over 7 million jobs from their payrolls since the economic [...]

Employers Cut 20K Jobs in January, but Jobless Rate Drops to 9.7 Percent

The unemployment rate dropped unexpectedly in January to 9.7
percent, while employers shed 20,000 jobs, according to a report that
offered hope the economy will add jobs soon.
The unemployment rate dropped from 10 percent because a survey of
households found the number of employed Americans rose by 541,000, the
Labor Department said Friday. The job losses are calculated from [...]

Food Insecure: New York’s Hungry Children

One in eight Americans needed emergency food help in 2009—–one of five children in New York City are relying on emergency food.
These sad statistics come from Feeding America and the Food Bank for New York City.
“Food insecure” is the bureaucratic term for hungry people — and New York is, unfortunately, a textbook case in food [...]

Recession’s job losses likely to rise by nearly 1 million

As bad as the government’s jobs readings numbers have been during the Great Recession, we’ll soon find out the real situation likely was worse.
Much worse.
Job losses during the recession may have been underestimated by close to a million jobs. So instead of employers cutting just over 7 million jobs from their payrolls since the economic [...]

Moody’s warns US of credit rating fears

Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit.
In a move that follows intensifying concern among investors over the US deficit, Moody’s [...]

Brutal attack of Vallejo city worker caught on camera

Video available at abc7news.com
Dozens of teenagers saw it happen in broad daylight, but no one has come forward to identify the mob of young people who beat up a Vallejo city worker. Police have released surveillance video to generate tips.
The attack happened in front of two cameras on Feb. 1 at approximately 3:19 p.m.
Surveillance video [...]

Bogota’s bulletproof tailor

Colombian tailor Miguel Caballero specializes in making garments that enable the wearer to get shot at point-blank range with nary an injury besides, maybe, a bruised ego. At-high-risk-of-catching-a-bullet demographics, such as rappers and politicians all over the world, rely on Miguel’s handiwork. And, lucky me, when I was recently in Bogota for VBS.TV covering a [...]

Roubini Sees ‘Dismal’ Growth as Summers Rues ‘Human Recession’

Nouriel Roubini, the New York University professor who anticipated the financial crisis, said the U.S. growth outlook remains “very dismal” and White House economic adviser Lawrence Summers said the economy is still mired in a “human recession.”
Speaking at the World Economic Forum’s annual meeting in Davos, Switzerland, after the U.S. reported the fastest growth in [...]

Wet summer, more demand could create seed shortage

Dreaming of biting into a garden-fresh cucumber sandwich this summer? Better order your seeds now.
A poor growing season last year and increased orders from Europe could make it difficult for home gardeners to get seeds for the most popular cucumber variety and some vegetables this spring. Farmers, who usually grow different varieties than home gardeners, [...]

Pope urges ‘responsibility’ during tough times

Oh, ok…
Pope Benedict XVI has urged sense of responsibility from governments, employers and workers as they deal with job losses from the economic crisis.
The pontiff mentioned Fiat’s decision to stop auto production at a plant in Sicily, and Alcoa’s move to idle a smelter in Sardinia. Workers have protested these decisions.
Benedict said during his Angelus [...]

Obama Offers Budget With Deficits as Far as Number-Crunchers Can See With a Record $1.6 Trillion Deficit

As President Obama prepares to unveil his $3.8 trillion budget for fiscal year 2011, which begins Oct. 1, the White House is projecting the current fiscal year will end with a $1.6 trillion deficit, congressional sources confirmed to Fox News.
Next year’s budget will have a nearly $1.3 trillion debt, according to those sources, dropping to [...]

Foreclosure plague: It’s spreading

The new foreclosure plague is tied more to the economy than bad mortgages. Here are 10 cities where defaults grew the fastest in 2009.
Boise, Provo, Portland OR, Green Bay WI, Brimingham Ala., Myrtle Beach, Honolulu, Roanoke, Sioux Falls, S.D., Gulfport-Biloxi, Miss.
Source/Full Story: CNNMoney.com

Secret Banking Cabal Emerges From AIG Shadows

The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
Wednesday’s hearing described a secretive [...]

Las Vegas: Most foreclosures of any city in 2009

Cities in the so-called Sand States dominated the foreclosure rankings in 2009, with the 20 worst-hit metro areas residing in Nevada, Florida, California and Arizona.
Las Vegas had the largest number of foreclosure filings of any city last year, with 12% of its households receiving at least one during the year, according to RealtyTrac, the online [...]

Beware the 4 new asset bubbles

Less than two years after the housing market collapsed, the U.S. economy is threatened by a new bubble in asset prices. This time, four billowing balloons are hovering: two commodities — gold and oil — stocks, and government bonds.
Don’t be fooled into thinking that last week’s 5% drop in the S&P, and the recent sell-off [...]

Firms that broke law still get stimulus tax dollars

The federal stimulus program is funding roadway construction in many Massachusetts towns. But more than half of the companies that have received taxpayer dollars to perform the work have a history of breaking the law.
According to an investigation by Boston University’s New England Center for Investigative Reporting, more than half the companies given stimulus contracts [...]

Recession’s job losses likely to rise by nearly 1 million

Moody’s warns US of credit rating fears

Roubini Sees ‘Dismal’ Growth as Summers Rues ‘Human Recession’

Pope urges ‘responsibility’ during tough times

Obama Offers Budget With Deficits as Far as Number-Crunchers Can See With a Record $1.6 Trillion Deficit