The recent disastrous economic reports for the U.S. Labor Department and Commerce Department confirmed the economy in the U.S. is far from turning around, and in fact the data show it’s struggling to wean itself form government stimulus, according to Wells Fargo (NYSE:WFC) senior economist Mark Vitner.
Some of the data just released include new first-time [...]
All Posts Tagged With: "Economic Recovery"
Wells Fargo (NYSE:WFC) Senior Economist: “Growth is going to be much more dependent on the private sector”
New Home Sales Plunge as Personal Income and Spending Fail to Meet Expectations
Many people were shocked to find that not only did new home sales on grow in number, but they plunged by a huge 11.3 percent to levels not seen since April.
To show how bad the drop was, economists from Thomson Reuters were looking for sales to grow at a pace of 440,000, while the annual [...]
United States Banking Sector Ratings Lowered by Standard & Poor’s Ratings Services, Along with UK Banking
America and the UK have now joined the likes of Austria, Chile and Portugal as countries with banking rankings which place them in group 3, as Standard & Poor’s Ratings Services dropped them to an even lower level than their fall from Group 1 to Group 2 about a year ago in the midst of [...]
December 22nd, 2009 | Gary | Comments | Continued
Obama Panicking as Jobless ‘Recovery’ Fails to Materialize – Now Begs Bankers to Bail Him Out
In what appears to be a very disingenuous and pathetic assertion by Barack Obama, the banks of America now are obligated to facilitate economic growth because the government came to their aid, and the economic crisis was “largely of their own making.” Wait, I thought the stimulus spending by the government had done the job [...]
December 15th, 2009 | Gary | Comments | Continued
Obama Administration Clueless on Banking Issues, Sending Mixed Messages to the Industry
Again we can see why government shouldn’t ever interfere in the markets, as revealed by the confusion and cluelessness of the Obama administration in navigating the banking waters.
Obama is now pushing for banks to start lending much more in order to encourage economic recovery (you know, the one we’re already in).
In an attempt to influence [...]
Consumer Credit Falls by $3.51 Billion in October as Spending Remains Down
A report from the Federal Reserve on Consumer credit revealed that consumers continue to focus on paying off debt and tightening up their pocket books as the recession continues to linger on.
While there are those which have attempted to make this look like some type of positive number because a small amount of economists projected [...]
China Criticizes U.S. Monetary Policy, Says Could Risk Global Recovery
Liu Mingkang, China’s top banking regulator, speaking at the International Finance Forum in Beijing on November 15, said that U.S. monetary policy is generating a tremendous amount of speculation in global asset markets, and risks prolonging any economic global recovery while those policies remain in place.
What Liu is referring to is the commitment to a [...]
Report from ‘Pew Center on the States’ Confirms U.S. Economic Recovery a Myth and Need for Limited Government
In a devastating report on the fiscal condition of states across America, a report from the Pew Center on the States found that, along with California, nine other states are approaching similar crises.
This of course raises the question of if there is an economic recovery, how come these states are declining in economic and fiscal [...]
Goldman Sachs (NYSE:GS) Economist Says Home Prices Could Plunge 10% in 2010
Several economists at Goldman Sachs (NYSE:GS) say that home prices in 2010 could plunge by up to 10 percent by mid-2010, and over the next several years will appreciate little, if any.
“The risk of renewed home price declines remains significant,” said Goldman economist Alec Phillips recently, in a note to clients. “Our working assumption is [...]
Editorial: Wells Fargo (NYSE:WFC) Quarterly Report Shows Folly of Assertion the Recession is Over
Anyone who understands that statistics, surveys, polls, and other data-gathering mechanisms and reports can be made to say whatever the presenter or receiver of them wants or interprets, you will know that release of the third-quarter results by Wells Fargo (NYSE:WFC) recently are devastating to the hoax that the recession is over and recovery has [...]
October 23rd, 2009 | Gary | Comments | Continued
For Wealthy Homeowners, Things Will Get Worse Before Market Turns Around
With the luxury home market all but drying up, a number of indicators show that things will probably get worse for those homeowners, as it could for many of the lower end residential owners in America.
Even though some are trying to make it look like the housing crisis is largely over or regular homeowners, in [...]
Like a lot of large conglomerate companies that went through the deepest recession since the great depression not every part ...
This website has lost all credibility... every article they publish is something negative about Citi... I suppose the people behind ...
This is why the talk about a buyback is without foundation as Citi holdings has large amounts of debt and ...