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 Sears wins reprieve from liquidation as Chairman Lampert makes last-minute bid on bankrupt company

Sears wins reprieve from liquidation as Chairman Lampert makes last-minute bid on bankrupt company


Via: perrie-halpern  •  Stock Market & Investments  •  24 Comments  •  2 months ago

By Lauren Hirsch, CNBC Department store chain Sears won a reprieve from liquidating Friday after its chairman, Eddie Lampert, submitted a bid in an effort to buy the retailer and keep it alive,...
Why we spend money on things we shouldn't (and how to break the cycle)

Why we spend money on things we shouldn't (and how to break the cycle)


Via: perrie-halpern  •  Stock Market & Investments  •  6 Comments  •  2 months ago

By Jean Chatzky I can’t really afford this, but I love it … I really shouldn’t have bought that, but I needed a pick me up … Is this what a spending hangover feels like? Sound familiar? Turns out...
Market gains for 2018 wiped out by plunging stocks

Market gains for 2018 wiped out by plunging stocks


Via: perrie-halpern  •  Stock Market & Investments  •  7 Comments  •  3 months ago

By Lucy Bayly The stock market slid dramatically on Tuesday after a slew of disappointing corporate earnings dragged down the Dow Jones Industrial Average and the S&P 500, erasing all gains...
Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class

Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  5 months ago

To paraphrase Mark Twain, everyone complains about inequality, but nobody does anything about it. What they do is to use “inequality” as a takeoff point to project their own views on how to...
We’re Measuring the Economy All Wrong

We’re Measuring the Economy All Wrong


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  5 months ago

Ten years after the collapse of Lehman Brothers, the official economic statistics — the ones that fill news stories, television shows and presidential tweets — say that the American economy is...
The real Goldfinger: the London banker who broke the world

The real Goldfinger: the London banker who broke the world


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  5 months ago

Every January, to coincide with the World Economic Forum in Davos, Oxfam tells us how much richer the world’s richest people have got. In 2016, their report showed that the wealthiest 62...
Tail Risks

Tail Risks


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  6 months ago

Tail risks. Can we afford right now to think about tail risks? Probably not: right now what were our tail risks have become head risks, and given them and our day jobs we are all fully absorbed....
Ten years on, the Fed’s failings on Lehman Brothers are all too clear

Ten years on, the Fed’s failings on Lehman Brothers are all too clear


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  6 months ago

The key policymakers have always maintained they had no choice but to let Lehman collapse. That’s simply not true. In 2007 Fortune magazine ranked Lehman Brothers investment bank number 1 on its...
Four Definitions of Money. All Correct.

Four Definitions of Money. All Correct.


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  6 months ago

Money makes the world go round. That may well be true, but money certainly makes the economics world go round. It’s the discipline’s special purview, the numeric linchpin that gives economics its...
One chart that shows how much worse income inequality is in America than Europe

One chart that shows how much worse income inequality is in America than Europe


Via: bob-nelson  •  Stock Market & Investments  •  350 Comments  •  6 months ago

The income share of the poorest half of Americans is declining while the richest have grabbed more. In Europe, it’s not happening. Income inequality is a growing problem in the United States. The...
For Wages, a Trump Slump

For Wages, a Trump Slump


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  7 months ago

The official economic indicators look pretty good. The trends in hourly pay do not. Paul Ryan tried to brag about the economy last week, and it didn’t go so well. “Not too long ago, progressive...
Stock buybacks, explained

Stock buybacks, explained


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  7 months ago

The tax cuts have put stock buybacks in the spotlight. Here’s what they are — and why you should care. The Republican tax cuts have been great for corporations, which have spent billions of the...
Big Business Reaps Trump’s Whirlwind

Big Business Reaps Trump’s Whirlwind


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  8 months ago

The imminent prospect of a trade war, it seems, concentrates the mind. Until very recently, big business and the institutions that represent its interests didn’t seem to be taking President...
Your Credit Card Will Pay for the Next Recession

Your Credit Card Will Pay for the Next Recession


Via: bob-nelson  •  Stock Market & Investments  •  45 Comments  •  8 months ago

Every three months, a select group of Federal Reserve officials gets together to guess where the federal funds rate is headed. That’s the interest rate banks charge one another for overnight...
Trump’s Taking Us From Temper Tantrum to Trade War

Trump’s Taking Us From Temper Tantrum to Trade War


Via: bob-nelson  •  Stock Market & Investments  •  4 Comments  •  8 months ago

In one way, Donald Trump’s attack on our foreign trade partners resembles his attack on immigrants: in each case, the attack is framed as a response to evildoing that exists only in his...
Trump’s Potemkin Economy

Trump’s Potemkin Economy


Via: bob-nelson  •  Stock Market & Investments  •  3 Comments  •  8 months ago

According to legend, Grigory Potemkin, one of Catherine the Great’s ministers (and her lover), created a false impression of prosperity when the empress toured Ukraine. He supposedly did this by...
America’s cheese stockpile just hit an all-time high

America’s cheese stockpile just hit an all-time high


Via: bob-nelson  •  Stock Market & Investments  •  1 Comments  •  8 months ago

The United States has amassed its largest stockpile of cheese in the 100 years since regulators began keeping tabs, the result of booming domestic production of milk and consumers’ waning interest...
For the last time: Trump inherited a good economy, and he hasn’t made it better

For the last time: Trump inherited a good economy, and he hasn’t made it better


Via: bob-nelson  •  Stock Market & Investments  •  9 Comments  •  8 months ago

President Trump, who came into office when unemployment was at a then-10-year low, thinks that he was “given a very tough hand,” because when he “came up here, we had an economy that was going...
For the biggest group of American workers, wages aren’t just flat. They’re falling.

For the biggest group of American workers, wages aren’t just flat. They’re falling.


Via: bob-nelson  •  Stock Market & Investments  •  2 Comments  •  8 months ago

President Trump has touted a strong economy, but one measure shows the value of wages has decreased for most American workers. Jeff Swensen/Getty Images The average hourly wage paid to a key...
Killing the Myth of the Gig Economy

Killing the Myth of the Gig Economy


Via: bob-nelson  •  Stock Market & Investments  •  4 Comments  •  9 months ago

Many pundit types were thrown for a loop by the Labor Department's release of its Contingent Worker Survey yesterday. The survey, the first one since 2005, showed no increase in the percentage of...
No You Assholes, Obama Did Not Do It Too

No You Assholes, Obama Did Not Do It Too


Via: bob-nelson  •  Stock Market & Investments  •  105 Comments  •  9 months ago

Let's get this straight: Donald Trump did something unbelievably stupid when he tweeted about the jobs report last Friday morning, 69 minutes before it was public. The president gets an advance...
The Jobs Recovery: A Longer View

The Jobs Recovery: A Longer View


Via: bob-nelson  •  Stock Market & Investments  •  3 Comments  •  9 months ago

With the monthly job-creation streak continuing to set records, the data shed light both on the rebound from the recession and on what’s left to be desired. Friday’s jobs report was a...
Oh, What a Stupid Trade War (Very Slightly Wonkish)

Oh, What a Stupid Trade War (Very Slightly Wonkish)


Via: bob-nelson  •  Stock Market & Investments  •  138 Comments  •  9 months ago

So, the trade war is on. And what a stupid trade war it is. Steel pipes being uploaded for transport in Sassnitz, Germany. Stefan Sauer/DPA, via Associated Press My regular column for tomorrow...
Washington Post Headline Writer Hypes Trucker Shortage

Washington Post Headline Writer Hypes Trucker Shortage


Via: bob-nelson  •  Stock Market & Investments  •  2 Comments  •  9 months ago

The headline of the Washington Post article should have us all worried, "America has a massive truck driver shortage. Here's why few want an $80,000 job." That sounds pretty dramatic. The article...
Capital’s Share of Income Is Way Higher than You Think

Capital’s Share of Income Is Way Higher than You Think


Via: bob-nelson  •  Stock Market & Investments  •  3 Comments  •  9 months ago

Almost half of households’ market income is receivedfor just being wealthy: owning stuff. The shares of income going to “capital” and “labor” are vexed issues. How much is received for...
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