1
recession
recession
Even Though Incomes Are Up, Americans Aren't Ready To Spend More
By Mary Beth Quirk on January 30, 2012 10:00 AM
57 Comments
Although there are signs of hope for the economy as American incomes were up by the most they have been in nine months, the fact that we're also keeping our spending exactly the same isn't so great. More »
Survey: Recession Has Made Us Smarter, More Efficient Shoppers
By Chris Morran on November 16, 2011 1:30 PM
32 Comments
If you're looking for an upside to the last few years of economic doldrums, here's some news for you. The results of a new survey demonstrate that Americans have become more focused, efficient and less impulsive when it comes time to do their shopping. More »
Fed Report Gives 50/50 Chance To New Recession In Early 2012
By Chris Morran on November 14, 2011 2:15 PM
39 Comments
As the U.S. economy continues to try to climb out of the sinkhole left by the 2008 bank meltdown, looming disasters in Europe and Japan could end up plunging us back into a recession in the coming months, warns a new report from the San Francisco Federal Reserve Bank. More »
10 Million More In Poverty Because Of Medical Expenses, Census Reports
By Ben Popken on November 10, 2011 4:00 PM
116 Comments
If you were to subtract the cost of health care expenses from family incomes, an additional 10 million more Americans would be considered in poverty by official measures, the U.S. Census Bureau said this week in a new report. More »
(averrue)
BofA Reaps Fees From Unemployment Benefits Loaded On Debit Cards
By Ben Popken on November 10, 2011 3:00 PM
95 Comments
While Bank of America's now-abandoned plan to charge debit card users $5 a month has received a halogen spotlight recently, far less attention has been paid to how it collects fees off the unemployed. In some states, unemployment benefits are issued via Bank of America debit cards. States save money by not using paper checks, but the unemployed lose out from all the fees hiding in the cards. More »
New Wave Of Mortgage Defaults On Horizon
By Ben Popken on November 9, 2011 11:00 AM
80 Comments
Some of the crappiest mortgages ever made were issued in 2006, and right now those 5-year introductory teaser periods are expiring. That's leading to a 300% increase in monthly payments for already strapped borrowers, and it's what's driving the first increase in delinquent mortgages since 2009, a banking expert tells Credit.com. More »
Video: Occupy Portlanders Open Credit Union Accounts On Bank Transfer Day
By Ben Popken on November 7, 2011 11:00 AM
65 Comments
Saturday was the fifth of November, and many remembered to take a stand and shut down their big retail bank accounts, transferring their cash to a new credit union account. Here's a video out of Occupy Portland covering what happened on Bank Transfer Day. Interviewees talk about why they're switching to a credit union, and how this is just the beginning. More »
Video Of People Closing Down Their Accounts At Big Banks
By Ben Popken on November 4, 2011 10:00 AM
51 Comments
Tomorrow is Bank Transfer Day. By this date, people all across America are shutting down their accounts at large, costly, name-brand banks and transferring their funds to new bank accounts at their local credit union or community bank. Here is an excellent video made in Portland that follows along with several different people as they close their bank accounts and give their reasons for doing so. One person wants to save money, another disagrees with the bank's foreclosure practices, a third is mad about the bailouts, and the last is a union withdrawing its funds to show solidarity with holding Wall Street accountable. More »
(USDAgov)
1 In 15 Americans Classify As Poorest Poor
By Ben Popken on November 3, 2011 1:00 PM
119 Comments
A record number of Americans classify as the poorest poor, according to a new report. Right now, 1 in 15 Americans live at least 50% below the official poverty level of $22,314 per annum for a family of four. That's making do with about $11,000 a year split between four people. More »
Triple Dip Predicted For Home Prices
By Ben Popken on October 31, 2011 5:00 PM
65 Comments
Home prices are headed for yet a third bottom, their lowest yet, says a new report by financial analytics company Fiserv. More »
Consumer Spending Went Up .6% In September
By Ben Popken on October 28, 2011 1:00 PM
26 Comments
Even though they haven't been making any additional money for the past three months, consumer spending ticked up 0.6% in September. Are people spending more because they feel that the low interest rates they get from the bank make it less valuable to save? More »
What Are Americans Spending The Little Money They Have On?
By Ben Popken on October 27, 2011 1:00 PM
109 Comments
Processed vegetables up, eating out at Applebee's down. More »
US Economy Grew 2.5% In Third Quarter, Department of Commerce Report Says
By Ben Popken on October 27, 2011 11:00 AM
24 Comments
Buoyed by brisker consumer and business spending, The American economy grew at an annualized rate of 2.5% in the third quarter, according to a report released this morning by the U.S. Department of Commerce, More »
Copper Traded For Crack
By Ben Popken on October 26, 2011 4:00 PM
51 Comments
Some enterprising drug dealers are helping copper thieves cut out the middleman. They're accepting copper pipe as legal tender in exchange for crack cocaine. More »
Spray Your Food Gold
By Ben Popken on October 26, 2011 10:00 AM
73 Comments
What, chicken for dinner? Again? Turn those blahs! into yays with Food Finish, an edible colorizer that you spray on your food to make it look like it's covered in gold. More »
US Expands Mortgage Refi Plan A Smidge
By Ben Popken on October 25, 2011 12:00 PM
58 Comments
The federal government announced on Monday an update to a program for homeowners that would let borrowers who were underwater - owing more on the mortgage than the house is worth - to refinance their loans at the new historically low interest rates of almost 4%. More »
Borders Store To Be Turned Into Library System Nexus
By Ben Popken on October 24, 2011 5:00 PM
17 Comments
Here's another cool liquidated Borders store conversion story. The Pioneer Library System in Oklahoma is buying up a 25,000 square foot Borders store and turning it into their new book master control system headquarters. More »
Man Reuses Letters From Borders Sign To Open "ODE" Bookstore In Same Spot
By Ben Popken on October 24, 2011 10:00 AM
82 Comments
San Francisco is big into recycling and books, and both interests have combined in the form of a liquidated Borders bookstore that is getting reused as a used bookstore. The owner is even finding a place for the letters in the original Borders sign: spelling out the name of the new store, "ODE." More »
(DW)
Liquidated Borders Store Reincarnated As Temporary Halloween Shop
By Ben Popken on October 21, 2011 1:00 PM
106 Comments
What happens to old Borders stores now that the book chain is bankrupt and liquidated? In Kennesaw, Georgia, one old Borders shop has been brought back from the dead as a temporary Halloween supply warehouse. It makes reader DW sad. More »
A Richer Way To Measure Poverty
By Ben Popken on September 29, 2011 4:00 PM
81 Comments
The way we currently measure poverty is, shall we say, based on a paucity of data. New York is deploying a new system of measuring poverty that aims to give a greater depth and richness to the poverty picture. More »
