Economics Articles


LOWERING THE BABY BOOM: Can you really afford to lose income when gaining a baby?

Many moms and dads struggle, contemplate and waver back and forth with one simple question as they plan to welcome a new baby to the family. "Is one of us able to quit my job and still have enough money for a new child, without the feeling that money will always be tight?" That answer is a d.... Keep Reading

Biggest Bankruptcy Ever

And I thought I was having a rough morning. Wall Street is absolutely taking on the news of Lehman Brothers' bankruptcy. At well over 600 billion dollars, it's the largest bankrup.... Keep Reading

Fannie and Freddie not Forgotten

It was just a matter of time before Fannie and Freddie were bailed out by the US Government. With on-hand cash available from anywhere from $1b to $200b I think they'll be ok. I can tell you .... Keep Reading

Great Depression 2

This is a follow-up that seemed timely in light of this article in The Independent claiming that we're experiencing the Great Depression .... Keep Reading

City Budget Cuts

Would you want this in your city? Yikes, I wouldn't. I don't have a problem with civilian "report takers" for the fire department but when you're talking about having non-sworn civilians replac.... Keep Reading

Google's Free-Fall

Remember when Google's stock was waaaaay up there? It's down now because its click-through rate is stagnant. Well duh--people are finally learning that the ads (see the one above this entry) aren't really all .... Keep Reading

CA House Prices down 26%

California continues to lead the downward trend in housing, with the median price falling 26%. I wish the houses around me would fall 26%--I'd be buying so fast you wouldn't know what to do. The median.... Keep Reading

Homes Down Again

I should put this entry on auto-write. Homes sales are falling again. It was released today that they're at a 13-year low. Big surprise. The median home price also fell to $244,000. I think in six months or so I'm g.... Keep Reading

Trucker Strike?

Truckers are apparently getting ready to strike. How catastrophic would that be for our shaky economy right now? I'll go ahead and field that--pretty darn catastrophic. From the .... Keep Reading

75% Recession

According to CNN 75% of Americans think we're in a recession. I for one, do not think so. I'd really like to know who they're polling. They're certainly not calling people at work--people who have jobs. They're calling people at home and the likelihood of someone sitting at home not having a job.... Keep Reading

Bared Sterns

I thought my title was pretty creative but now that I look at it it's not as it probably needs an explanation: Bear Sterns just came out with their reports and wound up having to be bailed out (big time) by JP Morgan/The Fed. Oops! Apparently it was easier to survive through the Keep Reading

What is Spot Gold?

This morning I read about spot gold and, frankly, I had no idea what it was. Apparently it's part of a new set of commodities that are traded for their "on the spot" value. That's news to me. In other news the .... Keep Reading

Oil over $102

When will the madness stop? Yesterday oil spiked over $102 as the dollar continued its slide towards a value roughly equal to a small ball of tinfoil. Just for kicks yesterday I went to see if the domain paymenineur.... Keep Reading

Airline Death

I learned from a friend of mine, who is a flight attendant, that they're not allowed to let anyone die in the air. Even if someone is clearly dead and there is a doctor on board they are supposed to perform CPR on them and have the doctor pronounce them dead on the ground. Why? To help avoid stor.... Keep Reading

Castro Retires

Fidel Castro stepped down this morning. What's that mean for us in the United States? Well, Raul (Fidel's brother) is now the head of state and he's been handling most of the duties since Fidel got sick in 2006. He apparently is a more ardent follower of the Chinese-style of communism and is like.... Keep Reading

Chavez's Oil

Yesterday Hugo Chavez threatened to cut off America's supply of oil. Apparently, even though hate Venezuela and they hate us, they send us about 30% of our oil. Chavez called it an "economic war". You kn.... Keep Reading

Delta / Northwest Merge

It's rumored that Delta and Northwest are about to merge. I'm not really sure how I feel about this because I love flying Delta and absolutely hate flying Northwest. In fact, I have long.... Keep Reading

Do You Yahoo?

If you don't Yahoo you are not alone. The one-time giant of search dropped another 11% after declaring their core offerings were being updated without the success that should have been accompanying them.... Keep Reading

Black Monday II

It's ironic in a way that I misspelled Monday as Money this morning because things appear to be tanking fast and it's safe to assume that if you're invested in the stock market, you're taking a pretty enormous hit right now. The news on NPR yesterday said worldwide the losses could be over a trill.... Keep Reading

Katrina Victim Sues for $3 Quadrillion

If we wanted to build a bridge to Saturn--and back--and then back to Saturn we could do it with a mere $3 quadrillion pennies, the same amount asked for by a Katrina "victim" in a law suit against the Army Core of Engineers. I put victim in quotes not because I am heartless but...well because I'm h.... Keep Reading

CNET going down?

It appears not all is happy in the land of CNET--at least according to the New York Times. Apparently investors are displeased with .... Keep Reading

Toyota Overtakes Ford

Toyota is now the #2 car-maker in the United States, pushing Ford out of the slot for the first time in 77 years (GM is still #1). I'm sure there are a lot of people at Ford sitting around wondering how.... Keep Reading

Weather Channel For Sale

This morning I read the Weather Channel was for sale. I would consider buying it if I had an extra five billion dollars laying around but unfortunately I do not. I would buy it be.... Keep Reading

Oil Finally Over $100

That didn't take long. Only two days into 2008 and oil has already broken the $100/barrel mark. Apparently the recent disturbances in oil-rich Nigeria sparked this recent hike and only after about an hour the price of.... Keep Reading

US Fertile Again

We did it, we finally have enough kids to replace each adult that "goes away". Personally, I think it would be nice to taper this number down--maybe 1.75 or something so there's not .... Keep Reading

TV Payback

TV networks are paying back advertisers since no one is watching TV anymore. I'm not a member of any union but I have to give credit to the the WGA--their timing was perfect. Fewer people were watching the.... Keep Reading

Protectionist Tendencies

I read an interesting article in the Financial Times about the current paranoia the US has about losing jobs to Asia. You think? Why would be scared about losing jobs to a country whose .... Keep Reading

What is the median US income?

In 2006, the median US income was $48,201 per individual. Score! I'm finally above average at something. Maybe I can put our two year old and our six year old to work and boost our household income even further? Anyone need some mess-making done?.... Keep Reading

Capitalism At Work

Crazed fans have start listing just about Keep Reading

How quickly does the national debt grow?

So just how fast does the current national debt grow? About $1m/m. That's right--one million dollars every second. While that sounds like (and is) a ton of money, if you think about it, it's really not t.... Keep Reading

Gulf Market

I really try hard not to copy and paste whole articles but since I can't really add any unique value to this one from Bloomberg on the combined Gulf State Market, I'm just going to do it. If you feel so inclined anyway, you can read it $1m/m. That's right--one million dollars every second. While that sounds like (and is) a ton of money, if you think about it, it's really not t.... Keep Reading

Lowered Expectations

The White House has released a lowered economic outlook for the year. I need to work for the government. I would love for my job to be to tell people things they already knew and get paid a lot of money t.... Keep Reading

Cyber Monday Better Than Expected

Cyber Monday exceeding expectations by a solid 40%. This means one of two things: either the economy is not doing as badly as everyone thought or people have absolutely no problem racking.... Keep Reading

Citi Saved

Citi was saved by Abu Dhabi and their $7.5b influx of cash. Without a doubt, now that the precedent has been set, other foreign investors from previously "unsavory" locations are now going to be buying into major U.... Keep Reading

End of America

From today's Breaking News section of the Drudge Report. As with everything from Drudge, take it with a (ok, at least several) grain of salt. Pretty dire, though, if you want to believe him. NEW BUCHANAN BOOK DECLARES 'END OF AMERICA' "Am.... Keep Reading

Black Friday

Yes indeed, today is Black Friday. According to Yahoo, here are some of the deals that have come and gone while you were sleeping this morning: Wal-Mart Stores Inc., the world's largest retailer, threw open its doors at 5 a.m., offering such specials as a Polaroid 42-inch LCD HDTV for $798 and a $.... Keep Reading

Cost of the Writers Strike

Apparently the cost of the WGA strike could be as high as $21 million a day. Because so much of the local economy is based on active filming the strike is apparently putting a lot of people in semi-related industries out of work. According to the LA Times, "Depending on how long it lasts, the stri.... Keep Reading

Precious SBUX

Some news hits home more than other news. Because of my love affair with Starbucks I was surprised to see they lowered their earnings expectations. They did this last quarter too and it ended up costing.... Keep Reading

Music and Business

According to Reuters/Yahoo, 88% of people with graduate degrees and 83% of individuals earning over $150k/year studied music. I can confirm that in real life too--the most successful people, in terms of both we.... Keep Reading

Less-Obvious Foreclosure Fall-Out

From Yahoo, apparently many of the empty houses caused by the foreclosure fiasco are now being filled once again--by vagrants of various types. Drug dealers, prostitutes, run-of-the-mill homeless--but they're a.... Keep Reading

Google Trips in Europe

Google had some problems in Europe regarding their acquisition of DoubleClick. For $3.1 billion dollars, Google had no problem in the United States, but Europe, with more stringent pro-competition regul.... Keep Reading

Power of Wal-Mart

Here's some old news: Wal-Mart rules the US economy. How do we know? When they say things are good, the whole economy grows a big, yellow smiley face. U.S. stocks rallied the most in tw.... Keep Reading

E*Trade Tanks

E*Trade might go bankrupt according to a CitiGroup analyst. It was this kind of optimism-springs-eternal attitude that helped push the company to all-time lows; prices were down more than 5.... Keep Reading

Twenty Cents

According to Retuers, the price of oil is "expected to climb another 20 cents over the next two to three weeks". On the bright side, with the ever-weakeni.... Keep Reading

Merck Settles

Merck agreed to pay $4,850,000,000 in damages as part of a settlement over Vioxx. I am terrified to even write Vioxx in a blog since I get so many spammy emails asking about it. On other sites I've blogged on, I know there are tons of spam comments about various medicines and I really don't want t.... Keep Reading

Cost of Insurance

Yesterday one of our student interns at work came back from a trip to the ophthalmologist. Of course he doesn't have insurance and because he's not enrolled in any classes at UIC he's not eligible for student insurance. His visit cost him about $150 but the killer were his eyedrops--another $101 p.... Keep Reading

Pregnancy Outsourcing

If there are still any of you left who doubt the resourcefulness of people who need money, it was reported today that some Indian women are outsourcing their wombs. Crazy.... Keep Reading

Record Exports

The one good thing to come out of the lower-every-day dollar is the rise of US exports. It was announced today that the trade deficit had fallen to its lowest point in 28 months now that other countries can so easily snat.... Keep Reading

Radiohead Experiment Blows Up

I hope Radiohead learned their lesson. Releasing an album online where people could pay anything they wanted...come on. Surely you had to know that MOST PEOPLE would pay nothing--and that's exactly what t.... Keep Reading

GM Posts $39b Loss for 3Q

GM posted enormous 3Q losses this morning to the tune of $39 billion dollars. Let's play a little game today. There are ~91 days per quarter so GM was losing about $428 million a day or about $17 million an hour which .... Keep Reading

$250 a Barrel

$250 a barrel! Wow. According to the Financial Times, "'Options calls of strikes well over $100 a barrel are being bought by the thousands,' said Nauman Barakat of Macquarie Futures in New York." I th.... Keep Reading

"C" Ya: Prince Resigns

In the least shocking news you've heard today, Citi CEO Charles Prince has resigned. I know, big shocker. You're only head of the second largest bank in the world, your stocks have tanked, you're continuing to offer mortgages to people who can't pay them back, and, the best part, there is no end i.... Keep Reading

PetroChina vs. Russia's Economy

PetroChina's value is now more than the economic value of Russia. Wow. After breaking $1T, they are now by far the most valuable company ever--larger than GE and Exxon combined. I can't e.... Keep Reading

Financial Suicide

There is some sad news out there. It looks like there are lots, and lots and Keep Reading

Remember That Pipeline?

I stumbled across an article this morning about how BP was upset they had to close a pipeline. See, I remember reading about six months ago about a problem with a pipeline and the absolutely disastrous .... Keep Reading

Google vs. Facebook

How funny. It's just funny (for lack of a better word) to see Google feel threatened but that's exactly what's happening as Google & Friends take on Facebook. The All-Star group has declared war in.... Keep Reading

Citi Falling Fast(est)

Citi has been fading fast and has been kind enough to bring just about everyone else down with it. Citi closed down 6.9 per cent after analysts downgraded the shares and questioned whether further asset.... Keep Reading

Can't Get No Satisfaction

The US people are unhappy. 72% of us, in fact. Although not necessarily business related, I think the fact that people are unhappy generally stems three things: Iraq, Politics (see Iraq), and their.... Keep Reading

$96 Oil

It looks like I jinxed the price of oil when I boldly predicted it would never break $100 in my lifetime. Stupid, stupid me. Even though I've been following it closely, it shocked me that it went up three dollars since Friday of last week. Apparently there has been a fuel shortage right now. Their economy, as anyone on the planet not living under a rock would know, is absolutely booming. OPEC has replied by saying they can Keep Reading

What is Consumer Confidence?

Sometimes terms are a little misleading so I thought I would explain what consumer confidence is today. As a preface, I read U2 is about to restore "their" hotel, the largest in Dublin, really bugs me. It doubly irritates me because .... Keep Reading

$93 Oil

Along with the my entries on the ever-weakning dollar and my desire to have an auto-feed that can write the entries for me, I think I should get one that keeps up with the price of oil too. It has now broken h.... Keep Reading

An Apple A Day

Apple reported another record-breaking quarter--this time to the tune of 34% more than the quarter last year. Remember when Apple was almost dead? Their computers sucked unless you were a graphic designer and the fact nothing w.... Keep Reading

Chinese Buy Stake in Bear Sterns

For the first time ever, the Chinese government has purchased a significant share in a major US Bank. Scary stuff. As if we didn't already owe China trillions of dollars now they're.... Keep Reading

Back to Google

About a week ago I wrote Ga-Ga for Google--and I should have waited another week since their shares are up 46% (notice the irony of the article coming from Yahoo). I said in my p.... Keep Reading

Ask Ads

I really hate the ads Ask.com has on TV right now. They really need to abandon the whole "Be Human, Use Tools" concept. If they were smart, which they do not appear to be (yet), they would say something like "Stop Searching, Start Asking" and run spo.... Keep Reading

Bubble 2.0

I work for a telecom company so I feel like I'm kind of techie. No, I don't know how to program but I do know how those uber-dorks make money; they talk to me. Although I typically try to stay out of personal things, I read SF Gate about a Bay Area couple unable to make ends meet on $50,000. Is this supposed to be shocking? Chicago isn't nearly as .... Keep Reading

*Real* Concerned

OPEC reported that they were concerned that oil prices were approaching $90 a barrel. Yeah, I bet they're *real* concerned. They are so concerned, in fact, .... Keep Reading

Economic Craigslist

She said: "I dated a business man who makes average around 200 - 250. But that's where I seem to hit a roadblock. $250,000 won't get me to Central Park West. I know how that sounds, but keep in mind that a million a year is middle class in New York City, so I don't think I'm overreaching at all...[.... Keep Reading

Even More Foreclosures

Now, friends, is the time to flip houses. Compared with September 2006, last month there were twice as many houses moved into foreclosure. 220,000 houses in foreclosure last month would essentially wipe out my .... Keep Reading

Pleyel on the Outs

According to Bloomberg, French piano maker Pleyel is on the verge of going under. This wouldn't be big news except for the fact they're the last French piano maker. Apparently competition for high .... Keep Reading

ConnectU vs. Facebook

Looks like the 23 year old founder of Facebook is in trouble after allegedly snagging some code from a previous project. Personally, I don't see how this lawsuit can stand. People build off ex.... Keep Reading

Gas Crunch: COPS style

According to Newsday, Utah deputies have been told to limit their daily mileage. Apparently the state is paying over $25,000/m in gas. I'm not an economist or lawmaker.... Keep Reading

Ga-Ga for Google

Keep Reading

Show Me The Monet

Things like this make me sick. Intruders in the Orsay Museum punched a hole in Monet's Le Pont d'Argenteuil. I "get" most crimes. Someone gets robbed, the guy wanted money...someone gets pissed off in.... Keep Reading

Advertising Dollars

Over the weekend, since I was watching a lot of college football (Go Illini!), I saw a ton of commercials. It dawned on me, frighteningly for the first time, that you can say anything you want in a commercial. Anything. One of the commercials that baffles me are the DirecTV commercials that appea.... Keep Reading

Record Industry: We Will Die

In an article titled "Embrace Digital or Die", I think it's safe to comment upon Record Companies decision to die. Tim Burgess, the Charlatans' lead signer, told The Sunday Telegraph: "I wan.... Keep Reading

Record Industry Economics

Dear Record Industry, I am not an economist. I am a fan of music though and, from what I am told by friends and co-workers, a pretty savvy businessman. I say that not to be arrogant but simply so that you might listen to the single paragraph of advice I have for you. Your profits are slumping be.... Keep Reading

$100 a Barrel...

Over the weekend I read an interesting article in the WSJ discussing how the economy could survive in a time (soon) where oil cost over $100 a barrel. Still, some fear the impact of $100-a-bar.... Keep Reading

GAP's Security Breach

GAP is the latest company to cough up the personal data of people affiliated with their company. This time it wasn't customers or employees but rather job applicants. That's unfortunate for the notification process which will undoubtedly be more difficult since they will not have ready access to a.... Keep Reading

Mattel Apologizes to China

Mattel was forced to deliver a humiliating public apology to "the Chinese people" on Friday over the damaging succession of product recalls of China-made toys that the US toymaker has announced in recent months. Ouch. Taken from the Keep Reading

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