World-News

Unemployment rose in 345 large metro areas during the month, according to the report.

http://news.consumerreports.org/money/2011/08/unemployment-rose-in-nearly-all-us-cities-in-june.html



Layoffs Explode Nearly 60% In July

A sudden and unexpected burst in private-sector downsizing pushed the number of announced job cuts to a 16-month high of 66,414 in July, according the latest report on downsizing activity released Wednesday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

http://www.businessinsider.com/challenger-layoffs-report-for-july-2011-8



Sharp fall in consumer spending, manufacturing in US:

Economic data released this week provides further evidence that economic growth in the US has virtually come to a halt. The Commerce Department reported Tuesday that consumer spending fell by 0.2 percent in June, the first monthly decline since September of 2009.

http://www.wsws.org/articles/2011/aug2011/econ-a03.shtml



The Tent City of New Jersey

Desperate victims of the economic slump forced to live in makeshift homes in forest

http://bit.ly/nUoKgc


From Information Clearing House

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The Wrong Medicine: Why Fiscal Austerity Is a Bad Idea for a Slumping Economy.
http://www.commondreams.org/view/2011/08/04-9

What Everyone Should Know About the 'Debt Crisis' in the U.S.
http://www.commondreams.org/view/2011/08/04-5

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Saved by a trillion-dollar coin?

Ludwig von Mises Institute
by Robert P. Murphy

08/04/11

Now that the 'crisis' over the federal debt ceiling has been averted, we can leisurely explore two of the wackier proposals that emerged during the state of panic. Not surprisingly, the schemes involved the Federal Reserve and its ability to circumvent, not just standard accounting, but also the traditional divisions of political power. It s worth studying the episode carefully because we will probably see one or more of these 'solutions' promoted as the only answer to another crisis in the not-too-distant future...

http://mises.org/daily/5515/Saved-by-a-TrillionDollar-Coin


Informant: Thomas L. Knapp



http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=economic+growth
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=slumping+economy
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Federal+Reserve
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=debt
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=consumer+spending
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=austerity
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=manufactur
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=layoffs
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=unemploy
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Alejandro+Reuss
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Mark+Weisbrot
http://www.sharenews-blog.com:8090/helma/twoday/sharenews/search?q=Robert+P.+Murphy
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