Can US Recession Even be Avoided w/o Texas?
Texas alone has as about the same size economy as Canada, or Australia, or Russia!Manufacturing activity in Texas contracted the most since the depths of the Global Financial Crisis, with the headline General Business Activity Index falling to a super recessionary -34.6 this month, vs consensus forecasts ( Read more... )

RECESSION DEFLATION

How Low Can You Go
Gasoline prices continue to plummet, and one of our Facebook Recession members found this station in Texas now at $1.35/gal ~ But get this! In one part of Michigan, several competing stations were already coming in with GAS UNDER A DOLLAR ... Well under a dollar! Gas prices in Houghton Lake, Michigan, fell ( Read more... )

Below was originally posted at Crazy Eddie's Motie News on January 14, 2016.


( Read more... )

by Gaius Publius on 5/31/2011 02:59:00 PM



Matt Taibbi writing in Rolling Stone (my emphasis):
When oil prices surged to a ridiculous $147 a barrel in the summer of 2008, conventional wisdom held that normal supply and demand issues were the cause. ... [T]hanks to Wikileaks, we now know that when the Bush administration ( Read more... )

How much longer will the US economy be able to take this?

CNBC
May 9, 2011
Home Values See Biggest Drop Since 2008

U.S. home values fell in the first quarter at the fastest rate since late 2008, real estate data firm Zillow said on Monday, suggesting that a bottom will not be seen until 2012 at the earliest.

Zillow said its home value index fell 3 ( Read more... )

Consider this to be a follow-up to oil prices dropping 10 percent. All stories from WOOD-TV's YouTube channel.

First, the stories before the drop in oil prices last week.

Click to view

Gasoline averaged around $4.29 per gallon in West Michigan on Tuesday night, but there are several ways to avoid paying the wholesale price.
( See if you notice any theme tying the rest of these videos to high gas prices. )

A few days ago, I described how oil prices dropped and stocks went up on news of bin Ladin's death. I also said that it wouldn't last, a view shared by Kunstler.
This morning, Bloomberg is putting out a story that the price of West Texas Intermediate crude oil dropped - from $113 to 112 - because Bin Laden was tossed into the sea. How long will ( Read more... )

Over the past month, the percentage of Americans pessimistic about the direction of the economy has jumped to 39% from 26%.

Being that the largest increase in pessimism appears centered in expectations components, a chief leading indicator, this poll will likely increase talk about the risk of a new recession on the horizon.

Full poll results here

( Read more... )

CNBC
Killer Combo of High Gas, Food Prices at Key Tipping Point

The combination of rising gasoline prices and the steepest increase in the cost of food in a generation is threatening to push the US economy into a recession, according to Craig Johnson, president of Customer Growth Partners.
Johnson looks at the percentage of income consumers are ( Read more... )

And also, here are the results of a poll we took back in February as to what level we thought gas would have to reach in order for you to a)spend less on gas, and b)to pull back on spending, overall.

Poll Price Of Gas Where You Live?

-Related-
MarketWatch.com
April 12, 2011, 3:09 p.m. EDT
Gasoline prices up 40% this summer*, U.S. says
Motorists should prepare for ( Read more... )