Source: “Sacramento’s wave of lost jobs hits some harder than others”, The Sacramento Bee, July 14, A1
“The latest data suggest recession has now arrived, or will very shortly.” – Jan Hatzius, Chief Economist, Goldman Sachs I made fun of Goldman about 6 weeks ago for upping their recession probability forecast in 2008 from 30% to 40-45%….
Stephen Roach, Chief Economist at Morgan Stanley, had some noteworthy things to say about the bursting of the housing bubble and its effects on the US and global economies in his most recent two commentaries at Morgan Stanley’s Global Economic…
This one really surprised me. Walmart (WMT) has been benefitting from the recession as consumers trade down. But this morning they reported a 1.9% same store sales drop for the quarter ended July 31, 2009. Does that mean consumers are…
Not many people know that Adam Smith’s primary target in The Wealth of Nations was Mercantilism, the reigning economic theory of the time. He called his book “an attack on the whole commercial system of modern Europe”. Mercantilism was focused…
This morning Darden Restaurants (DRI), owner of The Olive Tree and Red Lobster, lowered their full year forecast (Press Release). They lowered same store sales expectations for fiscal year 2009 from 2% growth to 0%-1% growth, revenue growth from 14%-15%…