economy – News Stories About economy - Page 26

Jan 22, 2009 8:09 AM CST

New Jobless Claims Leap Past Estimates

Did you ever suspect they'd go down? Me either

(Newser) - The number of new claims for jobless benefits jumped more than expected last week, as companies continue to cut jobs at a furious pace. The Labor Department reported today that initial claims rose to a seasonally adjusted 589,000, from an upwardly revised figure of 527,000 the previous week....

Geithner Confirmation Expected

UPDATED

Jan 21, 2009 2:14 PM CST

Geithner Confirmation Expected

Committee grills Treasury nominee on taxes, but session lasts just four hours

(Newser) - Members of the Senate Finance Committee reprimanded Timothy Geithner today for not paying $40,000 in taxes, but appeared ready to recommend the full Senate confirm him as Treasury Secretary despite his financial infractions, Roll Call reports. “I apologize for putting you in the position where you had to...

Calm Down!
7 Reasons to
Be Skeptical

OPINION

Jan 21, 2009 10:21 AM CST

Calm Down! 7 Reasons to Be Skeptical

Yep; here are some reasons for concern and skepticism about Obama

(Newser) - Yesterday’s inauguration was such a feel-good fest, and our problems are so dire, that everybody is on board with President Obama. Leave it to Politico’s Jim VandeHei and John F. Harris, then, to give us some reasons for skepticism:

The genius fallacy: The best and brightest screw up,

...

EU Expects Deep,
Lengthy Recession

Jan 19, 2009 8:26 AM CST

EU Expects Deep, Lengthy Recession

Government spending will be only thing keeping European economies afloat

(Newser) - The European Union said today it is facing a "deep and protracted recession" with government spending the only source of growth. The 16 nations that use the euro will shrink 1.9% in 2009, with the entire EU contracting 1.8%, the European Commission forecasts. The EU will lose...

Banks Relish Public Funds, Won't Loan to Public

ANALYSIS

Jan 18, 2009 7:35 AM CST

Banks Relish Public Funds, Won't Loan to Public

(Newser) - Banks are enjoying a public bailout of billions of dollars, but they're not using the funds the way the way they were intended—to loan money to kickstart the economy, reports the New York Times. Banks are using the bucks to pay off debts and, in some cases, acquire companies....

Crisis Turns Econ Theory
on Its Ear:

OPINION

Jan 16, 2009 1:03 PM CST

Crisis Turns Econ Theory on Its Ear:

Models, and pols, don't account for biases, insecurities: Brooks

(Newser) - Classical economics is based on the idea that “reason rides the passions the way a rider sits atop a horse,” David Brooks writes in the New York Times—which means classical economics is pretty much out the window right now. The recession proves the market is a psychological...

Bush United
Nation, But
Not the Way
He Planned

OPINION

Jan 15, 2009 1:04 PM CST

Bush United Nation, But Not the Way He Planned

Americans brought together by 'desire to see him gone'

(Newser) - President Bush brought the nation together, all right—it united against him, Rosa Brooks writes in the Los Angeles Times. It's easy to feel disdain for the guy responsible for the war and the economy, the guy who said our enemies "never stop thinking about new ways to harm...

Poll: Americans' Trust
in Gov't Plummeted in '08

Jan 14, 2009 12:17 PM CST

Poll: Americans' Trust in Gov't Plummeted in '08

62% trust feds less than a year ago; 65% think US is on wrong track

(Newser) - 2008 wasn’t a great year for the federal government’s reputation, with a Politico poll finding that 62% of Americans say their confidence in Washington has decreased in the past year. The main worry is the economy: 45% say that economic stimulus should be the highest priority (no other...

Retail Sales Take
Steep Plunge

Jan 14, 2009 8:38 AM CST

Retail Sales Take Steep Plunge

Fall twice as far as anticipated

(Newser) - Retail sales fell more than twice as much as analysts predicted in December, thanks to mounting job losses and reduced credit, Bloomberg reports. Sales fell 2.7%, extending the longest string of declines on record to 6 consecutive months. Purchases excluding automobiles slid 3.1%. “Consumers are pulling back,...

Bummer Economy?
Move Home!

Jan 13, 2009 2:08 PM CST

Bummer Economy? Move Home!

More adult children are moving in with parents

(Newser) - A bleak job market and skyrocketing rents have college grads—even working adults—boomeranging back to their childhood homes, something that's fast losing its social stigma, the Boston Globe reports. About half of adults ages 18 and 24 live with their parents.

Use Stimulus to
Invest in Food Reform

OPINION

Jan 12, 2009 5:19 PM CST

Use Stimulus to Invest in Food Reform

Fixing food will save health and environment

(Newser) - Just because Barack Obama has a lot of issues to deal with once he's sworn in, he shouldn't leave food reform off the table. Putting a bulk of the stimulus package toward local and regional food systems will cut costs and bring us back from the edge, Tom Philpott, founder...

Beyoncé Hit Is Soundtrack
for More Market Chaos: Prof

Jan 12, 2009 2:37 PM CST

Beyoncé Hit Is Soundtrack for More Market Chaos: Prof

Analysis of pop charts finds steady songs predict turbulent finance

(Newser) - Beyoncé’s smash hit "Single Ladies (Put a Ring On It)" might be the harbinger of continued chaos in the financial markets, the Guardian reports. Hit songs with steady, regular rhythms—or “low beat variance”—throughout correlate with volatility in the American markets, an NYU professor...

Bush Years Were Dark for US Economy

Jan 12, 2009 11:49 AM CST

Bush Years Were Dark for US Economy

'We really went nowhere for almost 10 years,' says economist

(Newser) - The Bush years have not been good ones for the economy, the Washington Post reports, based on an analysis of economic data and discussions with economists of all stripes. Job growth for Bush’s tenure amounts to just 2%, the smallest 8-year gain on record, and GDP grew at its...

Bail Out America's Brains

OPINION

Jan 11, 2009 10:08 AM CST

Bail Out America's Brains

To stay afloat, we need more Gateses and Jobses

(Newser) - Building roads and bridges will give our economy a short-term boost—but we need to look farther into America’s future on the global stage, writes Thomas Friedman in the New York Times. That means investing to make sure the next Microsofts and Googles are home-grown. How? For a start,...

Happy Hour Hammers Bars in Tough Times

Jan 10, 2009 4:29 PM CST

Happy Hour Hammers Bars in Tough Times

Restaurants sober up as patrons drink earlier to save money

(Newser) - There’s a recession on, and that’s forcing drinkers everywhere to change their schedules. These days bars are filling up in the late afternoon, the Los Angeles Times reports, as patrons pinch pennies by slurping happy hour specials. “We don’t see a change in what people are...

Obama's Contagious Calm
Keeps Us Cool

OPINION

Jan 9, 2009 12:59 PM CST

Obama's Contagious Calm Keeps Us Cool

Prez-elect presents smooth-sailing image

(Newser) - How is it that Barack Obama’s warnings of impending doom manage to console, rather than panic, the nation? First, he’s contagiously calm, “more deliberate in his speech patter than John Wayne in a firefight,” writes Jack Shafer in Slate. The president-elect adopts a paternal tone when...

Get Behind President—but Don't Idolize Him: Noonan

OPINION

Jan 9, 2009 11:42 AM CST

Get Behind President—but Don't Idolize Him: Noonan

Speaking truth to power, not getting tongue-tied, more important now than ever

(Newser) - When Barack Obama spoke of his stimulus plan yesterday, he did it with authenticity and optimism, saying Americans could and would fix this mess. Peggy Noonan agrees. “This is not a nation of 300 million people on a morphine drip,” she writes in the Wall Street Journal. Noonan...

79% Support Obama Stimulus Plan, Poll Says

Jan 8, 2009 9:18 AM CST

79% Support Obama Stimulus Plan, Poll Says

And public places more confidence in him than in Congress

(Newser) - Most Americans favor Barack Obama's pricey antidotes for the economy, and they like him better than his pals in the legislative branch, Politico reports. A recent poll says 79% back Obama's fiscal plans, which include a $775 billion injection into infrastructure and alternative energy. The president-elect's favorable rating sits high...

Intel Losses
Dull Luster of
Gadget Show

analysis

Jan 7, 2009 5:12 PM CST

Intel Losses Dull Luster of Gadget Show

Revenue slump looms over Consumer Electronic Show

(Newser) - Intel's prediction today of abysmal holiday losses has cast a shadow over the year's flashiest gadget show, which starts tomorrow, writes Brooke Crothers of CNET. Fourth-quarter revenue is expected to be down 23% from 2007 and 20% from the third quarter. Intel is the world's biggest chip maker, and the...

Porn Kings Want
Federal Bailout

Jan 7, 2009 4:34 PM CST

Porn Kings Want Federal Bailout

$5B sought to 'rejuvenate sexual appetite'

(Newser) - Recession depression has hampered America's sex drive, claim Larry Flynt (of Hustler fame) and Joe Francis (Girls Gone Wild). The adult-entertainment kings want a federal bailout for slumping DVD sales, down 22% in the past year. Placing themselves alongside Detroit’s automakers in national importance, the duo says Congress should...