After having a few days away from the news it would be nice to return to some good tidings. But no. Last week’s GDP announcement shows that all our worst expectations are correct. Here’s the government press release: GDP Declines Sharply There is not much to say about this since it is self evidently awful. […]

I know I gave you this link before, but I think this news warrants its own entry. GM reported a horrible fourth quarter loss. Here’s the New York Times link again: G.M. Loses $9.6 Billion; Wagoner Back in Washington The loss is bad enough, but the truly eye catching number is the use of cash […]

Whoops. A couple of days ago I wrote that there were the first signs of the economy reaching the bottom of its decline. The data yesterday and today seem to indicate that the decline is still in full swing. So much for optimism. New home sales are now at all time lows: an annual rate […]