Four out of 10 American households were straining financially five years after the Great Recession — many struggling with tight credit, education debt and retirement issues, the L.A. Times reported.
Financial markets went into a tailspin Thursday after Argentina defaulted on its debt, raising fears among skittish investors already fretting about weak corporate earnings growth, rising interest rates and an aging bull market.
U.S. economic growth accelerated more than expected in the second quarter and the decline in output in the prior period was less steep than previously reported, which could bolster views for a stronger performance in the last six months of the year, CNBC reported.
Four years ago, NASDAQ servers were compromised by Russian hackers that has Wall Street is becoming increasing concerned about the safety of their data, and the fear that one well-executed cyber attack could bring down the entire financial system.
The Gross Domestic Product fell at a 2.9 percent annual rate, the economy’s worst performance in five years. Growth has been revised down 3.0 percent since the government’s first estimate was published in April, worse than economists’ expectations.
Wall Street is smiling going into the weekend as stock markets continued their blistering pace as the Dow and S&P 500 closed at all -time highs on Friday. The Nasdaq wasn’t far behind as it hit a 14-year high.
The U.S. economy continues to struggle as prices continue to soar. In the latest data provided by the Bureau of Labor Statistics the seasonally adjusted price index has skyrocketed 7.7 percent for meats, poultry, fish and eggs over the past year.
The downfall of manufacturing in the U.S. has done more than displace workers and leave communities searching for ways to rebuild devastated economies. In Reading and other American factory towns, manufacturing’s decline is a key factor in the widening income gap between the rich and everyone else, as people have been forced into far lower-paying work.
Federal regulations are becoming so burdensome that they’re weighing down the American economy. They’re also costing Americans more money than they spend on food and clothing.
Global equity markets edged higher on Monday, boosting a gauge of world stock performance to near an all-time high, as low interest rates bolstered sentiment even as U.S. Treasury yields rose.
U.S. Federal Reserve Chairman Ben Bernanke says the economy will face “calamity” if congressional Republicans and President Obama cannot reach an agreement to raise the legal limit on borrowing.