Oct 21 What’s the Difference Between a Recession and a Depression? Question: What is the difference between a recession and a depression? I have been out of work since last November. It seems like a depression for me. I worked for a civil/structural consulting engineering firm for the past 11 1/2… Continue reading
Oct 21 Stimulus Bill Data Offer Glimpse of Effectiveness Americans and government watchdogs are getting their first glimpse at the results of the massive economic stimulus package heralded by President Barack Obama soon after taking office. Continue reading
Oct 21 Watch Former Car Czar Rattner: No Reason GM Can’t Succeed "People will start buying cars again," former car czar Steve Rattner tells Judy Woodruff. He also discusses ousting GM's CEO and how the auto industry will evolve. Continue watching
Oct 21 Watch Barofsky: TARP Program Fueled Public Distrust The biggest cost of the TARP program might be the public's distrust of the government, according to inspector general Neil Barofsky. Ray Suarez reports. Continue watching
Oct 20 How Can the Economy Be Growing While Unemployment Is Rising? Question: Your work on the economy is discussed at our dinner table, with my 15 and 16 year old sons, almost every night. You have made such a difference to our family in understanding the Global Economic Meltdown. My children… Continue reading
Oct 19 Retraining Workers Sounds Great. But For What Jobs? Question: Why does nobody discuss the fact that all the working and many middle class jobs have gone to China and the rest of Asia? Retrain workers — great — but retrain them for what? Paul Solman: You know… Continue reading
Oct 19 Arrests, Scrutiny Put Hedge Fund Sector on Edge The arrests of a prominent Wall Street hedge fund founder and five others on Friday have unsettled the hedge fund world and could spur calls for new rules governing the largely unregulated financial sector. Continue reading
Oct 16 Loan Losses Drive Down Bank of America Earnings Bank of America reported Friday that it lost more than $2.2 billion in the third quarter, largely due to loan defaults and credit card delinquencies. Continue reading
Oct 16 Frank Friday: A Bonus Economic Naturalist Post Editor’s note: From time to time, we get questions here at the Business Desk that feel designed for our frequent guest blogger Robert Frank, author of The Economic Naturalist: Why Economics Explains Almost Everything. Today, we’re happily… Continue reading
Oct 16 Watch Bank Earnings Reveal Mixed Recovery on Wall Street Third-quarter earnings revealed a mixed picture on Wall Street as Goldman Sachs and J.P. Morgan Chase posted healthy profits, while Bank of America continued to struggle under the weight of rising credit card delinquencies and mortgage defaults. Continue watching