“Well, the idea that America is in the midst of a great recovery is pure fiction. It’s a lie."
"Analysts predict Standard & Poor’s 500 Index profits are going to decrease for three straight quarters. Investors better hope they don’t."
The percentage of households considered middle class shrunk nationwide between 2000 and 2013, a state-by-state analysis by Pew Charitable Trusts' Stateline news site found.
Americans have now added record credit card.
CNBC reports that national retailer Target is laying off thousands of workers.
Alan Greenspan sees no recovery or signs of coming boom in this economy.
No matter what the numbers are they are a total lie.
"Charles Evans said Wednesday the U.S. might not hit the Fed’s target inflation rate until 2018 and he doesn’t advocate raising interest rates until 2016."
This is Cramer in the clip above last night saying to ignore the drop because "things are awesome!"
"What if a profound economic downturn occurred and the federal government basically ignored it?"
"Sales during the four-day Thanksgiving holiday period crashed by a whopping 11% from $57.4 billion to $50.9 billion, confirming what everyone but the Fed knows by now: the US middle class is being obliterated..."
The market averages are set to gap down on the open. Maybe finally we can get big enough selling today that can lead to a panic bottom end to this drop that began a few weeks ago.
Total credit and GDP: rapidly increasing credit has a diminishing return as measured by GDP growth.
It now costs 1.6 cents to produce each US one cent coin due to the high price of zinc, which makes up 97% of each coin.
Art Cashin talks on CNBC about Janet Yellen and her speech today in which she said absolutely nothing.
Way too many people are bullish now on the stock market again and talk as if it is going to just go up forever. When margin players and lunatics buy at the end of rallies big drops come.
Sheldon Richman discusses the incredible staying-power of Keynesian economics despite its fundamental flaws.
The United States and the American people are crying out for sane fiscal policies. But Washington DC and BOTH political parties do nothing for them.
People often get upset when I doubt that the US stock market will just go up forever.
Interest rates on US treasury bonds have been falling over the past few months. As a result bond ETF TLT has been going up. This doesn't seem to make any sense though and has the experts all confused.
It is more than just a recession going on. There are big structural changes occurring and if people adapt to them they can do well and thrive.
The fear mongering on CNBC never ends. The other day they aired a clip by a casino lobbyist who opposes states that are making online poker playing legal.
Not enough people are signing up for Obama care. So as a result some smart people in government decided to put together a TV infomercial to encourage people to sign up.
There were only 74,000 created and it was revealed that well over 300,000 people left the labor force in December and simply gave up on the idea of finding a job that could sustain them.
According to Bloomberg economists are now pushing Fed "tapering" of its QE money printing operation out to March of 2014.
Cramer almost looks like he is crying in this video. In reality I think his comments are a little extreme in the short-term.
Surprise! Yesterday the Congress and the Obama administration agreed to reopen the government and raise the national debt. They agreed to kick the can down the road in regards to getting the debt under control though. It's good that this is all over now.
Any reduction in QE if it even happens at the next FOMC meeting in September will be so small that it will be merely a simple token PR show for Bernanke's benefit so that he'll be able to claim after he retires that he wasn't just a mad money printer - "see I reduced QE!"