Old Man Cap

Top 1% of Americans Reaped 2/3 of Income Gains in Last Economic Expansion (courtesy of: Center on Budget & Policy Priorities) Check out the above link for some scary and not really surprising data on where exactly all the growth has been going towards over the past decade. Huzzah for the new age of Robber [...]

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Latest plan for the large economic stimulus plan began circulation today. Lots of great stuff in here and (sort of) details included as well. Looks like a heavy dose of what the country needs structurally to be able to maybe succeed and not fall apart. I’m generally happy with it. Check it after the jump.

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Today, Census Bureau data came out detailing the year-on-year changes in retails spending. It was the worst year they have on record, a real decline of over 11% in retail sales nationwide in 2008. Calculated Risk: Retail Sales Collapse in December So, I blogged awhile ago that we were entering just the eye of the [...]

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Some details, thanks to CR. The Job Impact of American Recovery and Reinvestment Plan

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It’s about time that this has been officially stated. For those who have been thinking that the economy has been sucking since before August, you were right! NBER: Determination of the December 2007 Peak in Economic Activity This also begins to explain why foreclosures starting happening en masse at the beginning of last year and [...]

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I’m of the belief that the current blipping is the eye of the storm and we have more room to fall as the recession beats us down over the next year. I love graphs.

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$5 trillion to $10 trillion in 7.5 years

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I’ve been away from this blog for a little too long for many personal reasons lately but I’m back and looking to contribute. First things first,since it’s debate night, the election. Things are starting to look real hopeful in the long run for Obama even though the short term until November is grisly and ugly [...]

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Huffington Post – Bush Leaving Next President Record Federal Budget Deficit $490 billion projected federal budget deficit for 2009. This does not include the full estimates of further war costs and the quarterly request for additional $100 billion that’s been happening since 2003.  These estimates only hold if the economy does as well as the [...]

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Calculated Risk – Fitch Projects additional 25 percent House Price Declines (real terms) PIMCO, Phil Gross – MOOOOO From the above articles, there looks to be an additional 33% decline in real prices over the next 5 years for San Francisco.  This is good news for those saving to buy a house in 5 years [...]

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