Don Miller
Stubbornly High Unemployment Shows U.S. Economy Still Plagued by “Jobless Recovery”
While a surge in corporate profits reflect an improving economy, several government reports show that the United States continues to be plagued by a lingering “jobless recovery.” Most analysts, including President Barack Obama, are predicting a strong May jobs report due out today (Friday) with more than 500,000 new jobs added to the U.S. economy. [...]
Odds of IMF Bailout Increase as Greek Bond Prices Plummet
Prices for Greek 10-year bonds plummeted to record lows today (Thursday) on speculation Europe’s most troubled economy is about to unravel. Economists expressed new doubts over the country’s banks and short term funding plans and warned that recent developments now threaten to create a vicious cycle of bad news. “The fear factor is beginning to [...]
Surge in Strategic Defaults Threatens Housing Market Recovery
A growing number of homeowners who owe more on their mortgages than their property is worth are opting for “strategic default,” which means walking away from their homes, even though they can afford to make their monthly payment. If the trend accelerates, it could put more empty houses on a market that’s already overburdened with [...]
$13 Trillion in Obligations Show Shadow Banks Still Threat to Financial System
A report issued by the Federal Reserve Bank of New York shows that so-called “shadow banks" still hold more obligations than regular banks, representing a continuing threat to the financial system. Three years after the beginning of the financial crisis, the shadow banking system had about $16 trillion of obligations in the first quarter, compared [...]
