News Sources wrote an interesting post today on
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California has now reached Great Depression unemployment levels. Many are now calling the end of the recession but there is no sign that California is inching closer to prosperity. Last month the unemployment rate shot up to a post-World War II high of 12.2 percent. This is only the official headline number. The unemployment and underemployment rate is up to 23 percent putting California into its own mini depression. The great housing bubble is still beating down on the state economy. A

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News Sources wrote an interesting post today on
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New York – The fall of US investment bank Lehman Brothers on September 15, 2008 unleashed shock waves that shook the financial markets and destroyed trust in the banking system. The crisis lead to unprecedented government intervention in the markets as it developed into the worst global recession since World War II. The causes of the disaster are numerous. The following is a look at some of the factors behind the crisis.- Cheap money: After September 11, 2001 the US Federal Reserve pursued a po

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News Sources wrote an interesting post today on
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About 14.9 million people are out of work and looking for employmentNew unemployment data show why it will take years for the labor market to recover from one of its fastest and deepest declines since World War II, even if an economic recovery is around the corner.The Department of Labor report released Friday showed job cuts in August were lower than they’ve been in recent months. But a deeper look at the data shows why it will take millions of new jobs to dig American workers out of this reces

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News Sources wrote an interesting post today on
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By contrast, we’ve largely forgotten our most recent brush with raging peacetime inflation, the 1970s. Although nothing like Germany’s in the 1920s, ours was nonetheless powerful enough to be more dispiriting and more transformative of our culture than any stretch of post-World War II recession has been. ….. One reason that inflation can be such a powerful social force is because it affects virtually everyone. To people who’ve worked their whole lives playing by the rules, that is, to

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Random Feed wrote an interesting post today on
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The Wealth Gap Gets WiderWashington Post, United StatesNot a single loan went to a family of color. The black section of Detroit was simply excluded. After World War II, GIs received government-subsidized home mortgages, but there was no oversight to ensure that soldiers of color got their fair share. …

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