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Thursday, July 19, 2012

Long, in-depth piece by Thomas Edsall in the New York Times: The Hollowing Out (NYT):
It has become a campaign ritual. Immediately after the release of unemployment figures on the first Friday of every month, Democratic and Republican spin shifts into high gear.

“Our mission is not just to get back to where we were before the ( Read more... )

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The official trailer for "The Queen of Versailles" starring Jackie Siegel and David Siegel. A documentary that follows a billionaire couple who live in a 90,000-square-foot mansion inspired by Versailles, built on the success of the time-share industry.

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Tuesday May 22nd, 2012

One of the first things written on this site was a lengthy six-part series on automation and its implications for the economy titled What Are People Good For? That article predicted continuing unemployment and decay, and sure enough, that's exactly what has occurred. You're sure to hear politicians blathering over the next few ( Read more... )

By Gaius Publius on 5/21/2012 09:15:00 AM

Paul Krugman wrote a Friday column that gives us a chance to review and re-explain the current state of things in Europe. The state of the Europe is stark - poised on perhaps its last precipice.

Here's The Professor's summary (my emphasis and some reparagraphing everywhere; h/t The Stars Hollow Gazette):
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Steve Keen's Debtwatch takes note that despite official proclamations to the contrary, it is certainly looking like Australia's housing bubble has clearly popped as well.


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"We're All Sub-Prime Now!"


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Housing has triple-dipped.

The latest Case-Shiller HPI shows that the downtrend in housing values has resumed, with the seasonally-adjusted 3-month moving average 20-city index falling a sharp 0.6% in September.

There continues to be mounting evidence that the bursting of the 1980s-2000s multi-decade housing & credit bubbles are resulting in a Japan- ( Read more... )

Michigan Underwater
CNBC's Diana Olick takes a look at Michigan's economy.


The biggest problem in today's housing market is that nearly 11 million borrowers
owe more on their mortgages than their homes are worth, with CNBC's Diana Olick