Author: Bonddad

The U.S. trade deficit widened to $59 billion in August as record crude oil prices caused imports to rise, keeping the nation dependent on foreign investors to fund the shortfall.

The gap in goods and services trade was the third-largest on record and followed a $58 billion deficit in July, the Commerce Department said today in Washington. Both imports and exports were at all-time highs during the month, and the gap with China widened to a record on more shipments of textiles.

Over the last few weeks, several economic commentators have written about an upcoming recession – its causes and its overall effect.  These writers highlight the systemic problems of the US economy, namely, that we are not creating anything.  Instead, the US economy is based on asset prices that will eventually come down in price, causing a drop in consumer confidence leading to a recession.

[From the diaries by susanhu.]

There is an excellent essay on the difference between the US and European unemployment numbers on the front page.  I want to say that again: IT IS AN EXCELLENT ESSAY.  

Again: many cudos and much mojo to Coleman for his work.

“There are lies, damn lies and statistics.”   From an analysis perspective, the recent unemployment numbers have been difficult to explain because they do not jibe with the results of the labor participation rate.  With help from an analyst at the Boston Federal Reserve, I will explain below why the current unemployment number is too low, why the labor participation rate is right and why the employment situation is not as good as President Bush and his band of yapping right-wing idiots say it is. … Continued BELOW:

There have been several major bankruptcies over the last year.  Delta and Northwest declared...

Stagflation is a condition of high unemployment and high inflation.  This creates a policy...