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Americans Lose Hope for Economic Rebound

consumer confidence

A new Gallup survey shows that consumers are losing confidence in the economy at an accelerating rate. Gallup’s U.S. Economic Confidence Index was -9 for the week ending May 3 — its lowest weekly score since December. This reflects a six-point decline from the previous week, and is the largest week-to-week drop since last July. The survey looks at how people ...

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Mortgage Rates Show Little Change

NEW YORK, April 23, 2015 /PRNewswire/ — Fixed mortgage rates were unchanged this week, with the benchmark 30-year fixed mortgage rate remaining at 3.79 percent, according to Bankrate.com’s weekly national survey. The 30-year fixed mortgage has an average of 0.2 discount and origination points. To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/ The average 15-year fixed mortgage also ...

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March Durable Goods Report Shows Slowing Economy

U.S. core capital goods orders, a measure of hard goods being ordered from manufacturers, fell again in March. So-called core orders excluding aircraft and military goods fell 0.5%. Shipments of core capital goods, a category used to help determine quarterly economic growth, dropped 0.4% in March February’s numbers were in the negative as well and combined with March could signal ...

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Congratulations! We’ve Managed to Repeat History – Greater Depression Incoming

Soup kitchen depression

With businesses struggling, a run on ATM’s, banks and other cash deposits, central bank calling back cash and every day people defaulting on every day credit – yeah, another global depression might be closer than thought. Americans are suddenly defaulting on their personal debt at an alarming rate. Heck, even the American icon Colt is considering some form of bankruptcy. Greece ...

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Is Colt Going Bankrupt?

Colt_logo

**UPDATE – Colt has filed for Chapter 11 Bankruptcy as of 6/15/2015. The New York Times reported last week that legendary firearms manufacturer, Colt, is undergoing something that looks a lot like bankruptcy. Colt is considering two options to avoid running out of operating capital – a bond exchange and a prepacked bankruptcy. Existing bonds would be exchanged for new ...

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Hybrid and Electric Car Sales Slowing

Photo: Mario Roberto Duran Ortiz

Car buying company Edmunds.com released data today that shows that Americans are dumping electric and hybrid vehicles for gasoline powered vehicles at a growing rate. EVs and hybrids accounted for just 2.7 percent of all new car sales in the first quarter of 2015, down from 3.3 percent during that same period last year. The share of SUVs, meanwhile, has ...

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Bank Card Defaults Soar to Five Year High

Credit cards

Released today, the S&P/Experian Consumer Credit Default Indices showed the largest two-month increase in the rate at which consumers are defaulting on credit card debt since 2010. The bank card default rate increased 15 basis points to 2.99% following an increase of 23 basis points in February, the largest two month increase since April 2010. Slowing retail sales in March, lackluster ...

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Millennials Faring the Best Financially

NEW YORK, April 20, 2015 /PRNewswire/ — Millennials are feeling better about their finances than other age groups, according to Bankrate.com’s (NYSE: RATE) April 2015 Financial Security Index. Job Security 32% of employed millennials (18-29 year-olds) report higher job security relative to a year ago and just 4% report lower job security. Overall, 23% of employed Americans are feeling better ...

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China Grows at Slowest Pace Since Start of Great Recession

Courtesy: Robert Scoble

China is reporting that, in the first three months of 2015, it experienced the slowest growth since 2009. The National Bureau of Statistics reported that Chinese GDP expanded at just 7%, down from 7.3% at the end of 2014. Chinese industry missed expectations by an even wider margin. Actual factory growth came in at 5.6% growth while expectations were for ...

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Economy faltering, but, but but… the stock market!

money capitol

While economic news from March finally reflects the economy most Americans are living in, news stories are still painting a brighter future .. cuz… the stock market. Sure, stocks are expected to continue their meteoric rise and those that can live off of their stock portfolio, congratulations. The rest of Americans have no stocks or have stock market gains locked in ...

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Strong Nuclear Families Are Crucial for our Economy and Society

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Our contemporary immersion into political correctness and assumed “rights” regarding the basic building block of society has cumulatively, over the past few decades, steadily eroded not only our sociological strength, but our economic viability as a country. The fundamental significance of the family unit, and the hard data evidencing the undeniable importance of the intact nuclear family, have been ignored, ...

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GOP Candidates Continue to Toss Money Down Cornhole

The really big difference between Republican and Democrat handout recipients is their ability to be sympathetically photogenic. When pressed, the average Democrat welfare recipient can hide the flat–screen TV, stash the cellphone in a drawer and refrain from cigarette smoking. And it’s not too much trouble to pretend to fill out the job application or limp convincingly to prove the ...

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Right to Work States Have Healthier Economies

2015-Right-To-Work-States-Map-updated

This week Wisconsin became the 25th state in the union to pass and sign into law so-called “right to work” legislation. Despite the pejorative light oftentimes associated with right to Work (RTW) laws, in reality all they do is proscribe the requirement that a worker join or pay dues to a union as a qualification for employment. Unions often view ...

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Fed Chair: No Interest Rate Hike Any Time Soon

Janet Yellen

Federal Reserve Chair Janet Yellen set a cautionary tone on the economy saying that the FOMC will not make a move on interest rates for the next few meetings. Ms. Yellen attributed her dovish stance to weak inflation and a slowly improving jobs situation. “It continues to be the FOMC’s assessment that even after employment and inflation are near levels ...

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Why Lower Gas Prices Are NOT Allowing Consumer Revival

800px-Magnolia_gasoline_station,_Shamrock,_TX_IMG_6141

The drastically lower cost of gasoline was supposed to lead to a huge revival of consumer spending – why hasn’t that happened? Economic theory assumes that if a consumer has more money available, they will spend it. One of American’s major expenses is on energy. Put these two together and consumers should be running amok on Amazon.com, eBay and local ...

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