By Steve Birr Banking powerhouse JP Morgan is warning that recession risk in the U.S. is rising rapidly, despite continued statements from Federal Reserve officials and bull market analysts who say the country’s economic fundamentals are strong. In a research report released this week, the bank’s analysts conclude that disturbing trends in labor market productivity, the historic…
By JP Carroll As we’ve recently reported, Venezuela is in a world of hurt. Their socialist government can’t hold up under the weight of a bottoming out oil price, oil being their primary source of income. To make matters worse, news broke Wednesday that their currency is of such little value, they literally need to…
JP Carroll The Venezuelan economy is doing so poorly that three dozen 747 airplanes had to fly in much-needed cash. Inflation will reach 720 percent this year in the oil rich country, according to the International Monetary Fund. While inflation is reaching an unprecedented rate, Venezuelan currency printing firms are unable to contend with the amount…
Andrew Follett For months, American drivers have enjoyed near historically low gas prices, with the national average dropping to only $1.89 per gallon. Even President Barack Obama sees the benefits of low gas prices, commenting “gas under two bucks a gallon ain’t bad,” in last week’s State of the Union speech. Behind the huge drop in gas prices is an even…
By Juliegrace Brufke An economist is warning the world economy is facing conditions that could lead to a financial crash worse than 2007 and 2008. In an interview with the The Telegraph published Tuesday just ahead of the World Economic Forum, William White said the “macroeconomic ammunition to fight downturns is essentially all used up” and many of…
Michael Bastasch President Barack Obama’s decision to put a moratorium on new coal mine leases could end up costing Americans billions of dollars as more federal lands are locked up. Instead, if Obama could have generated nearly $88 billion of economic activity from opening more federally-controlled lands to coal mining, according to a recent study…
After a three month sales tax “holiday,” recreational marijuana consumers in Oregon began paying a 25% sales tax on January 1, 2016. Yes, you read that correctly: 25 PERCENT. For those of you who went to public school and didn’t bother augmenting your economics education any further, this means that the actual price of recreational…
French President Francois Hollande declared a “state of economic and social emergency” during his annual speech to business leaders Monday. From Talking Points Memo: Hollande laid out plans for training half a million jobless workers, greater use of apprenticeships, and aid for companies that hire young workers. Hollande’s Socialist government has struggled to boost long-stagnant…
Michael Bastasch After President Barack Obama touted record-low gasoline prices during his tenure in his State of the Union address Tuesday, he quickly promised to make energy more expensive for Americans by making oil and coal “reflect the costs” of global warming. “Now we’ve got to accelerate the transition away from dirty energy,” Obama said….
There’s a brilliant new meme that is allowing Millennials to vent their frustrations with the economy they’ve inherited. Meet Old Economy Steve, the man whom they wish they could trade places with. The meme examines the vastly different economies which Millennials and their parents inherited by pairing statements regarding opportunities and advantages Baby Boomers had…