It is being reported that the number of unemployed rose by 85,000 in December due to layoffs. Strangely, the unemployment rate is holding steady at 10.2%.  Currently, 15.3 Million people in the USA are unemployed, or more specifically claiming unemployment.  The real figure is likely substantially higher after taking into account those that no longer are eligible for unemployment, or those that merely never filed. Around 25 months ago, towards the start of the financial crisis, the... Full Story

Atlanta, USA Financial crisis is making people do strange things. There are a lot of people who can't make their ends meet anymore and can't even afford their mortgage. A Black man in his 40s or 50s walked into a SunTrust Bank in Atlanta with a box wrapped in electrical tape claiming it to be a bomb that could be activated by a cellphone. He handed the teller a note saying - "give me the money ... I need to pay my mortgage ... Merry Christmas" Police ask that anyone with information about the robbery... Full Story

It’s the biggest shopping day of the year and with optimism for a rebounding economy, Black Friday is under more scrutiny than usual. Media around the country are expressing hope for Black Friday sales, but disagree about whom the big day depends on: consumers or businesses. Source: http://www.newsy.com/videos/who_will_make_or_break_black_friday So how (much) did you spend this Black Friday? Did the Black Friday deals live up to hype or fall short of expectations?... Full Story

With the US Dollar spinning out of control, commodity prices are reaching record highs.  Gold just recently peaked at a record high of $1120, which strangely wasn't a big story in mainstream media outlet.  While it is commendable that the Mainstream Media are trying to quell fears of the Recession, often stating that the Recession is now over, but Gold reaching a record high seems like a big story, no? Gold's record high can be easily justified because of the Dollar's recent... Full Story

Don't laugh, at least not yet. There was a time when 7-11 coffee was looked down upon, but now, not so much. Let's not forget that McDonald's as well is making inroads into Starbucks' market share. So what's wrong with 7-11 wine?I guess we'll be finding out soon. 7-11 is about to start selling its own brand of wine. The company is calling it its first entry into the value wine category, and is releasing the two low-priced ($3.99) proprietary wines in the U.S. and Japan.The California wines, a... Full Story

Washington Dc, USA Finally some good news for US, the report card for economy finally showed some good results. The GDP (Gross Domestic Product) grew 3.5% in the third quarter after a full year of decline. The growth ends the streak of four quarters of the most severe U.S. economic decline since the Great Depression.   Real gross domestic product (GDP) increased 3.5 percent in the third quarter of 2009 after decreasing 0.7percent in the second quarter, according to estimates from the Bureau of... Full Story

New York, USA Dow Jones industrial average crossed 10,000 points today. It was great news, because it crossed it for the first time in the last one year. At Wall-Street, traders tossed commemorative caps and uncorked champagne. This was a big event for traders who had seen the average to reach 14,164.53 in October 2007 and then slide down to 6,547.05.   It's almost like an announcement that the bear market is over," said Arthur Hogan, chief market analyst at Jefferies & Co.... Full Story

In this time of recession, when something like this arises, the question becomes: is this a demonstration of insensitivity or of advocacy? Or just pure greed? A limited-edition "American Girls" doll is causing controversy. The doll, "Gwen," is a homeless version of the popular doll series.Gwen is friends with another American Girl doll, Chrissa, who has a DVD, Chrissa Stands Strong. In that DVD, Gwen is portrayed as homeless.CBS interviewed some homeless women, and they seemed to like the... Full Story

In August, the US economy shed another 216,000 jobs.  This is substantially less than January's 700,000, but we are still in a job decline.  The official national unemployment rate is currently at 9.7%, up from 9.4% at the end of July. It is important to realize, however, that the official rate doesn't take into account people that have been forced into part time work, nor does it include unemployed workers that would like to work by aren't actively seeking employment for a number... Full Story

Jackson Hole, Wyoming In a speech at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming, Federal Reserve Chairman Ben Bernanke said the global economy is beginning to emerge from recession after “aggressive” action by central banks and governments. Bernanke, speaking to an audience of central bankers and academics, warned that the world still confronts “critical” challenges. The note of caution underscored the Fed’s decision last week to leave interest rates... Full Story