Even though the Housing Market seems to be stabilizing, foreclosures are still a major problem. Some homeowners, who have tried to negotiate with banks are now going to court, saying they’ve not been able to get any clarity. Meanwhile, Lenders say they are making efforts, as they still are wading through an unprecedented number of troubled mortgages. We'll look how foreclosures are fairing in the Granite State.
When the recession began, Americans started pinching their pennies and repaying debt, causing some to speculate that consumers might permanently abandon their free-spending ways. But now, Americans are again loosening their purse-strings. We’ll look at how and why our saving habits change and how these variations affect the larger economy.
With looming debate over the federal debt and deficits, a recent government report warns the U.S. could fall over a “fiscal cliff", and quite possibly slip back into recession. On top of that, job growth has been uninspiring and across the pond, European economies remain shaky. We’ll look at these new fiscal rumblings…and how we may feel them in New Hampshire.
When Arthur Miller’s Death of a Salesmanhit Broadway and swept the Tony’s in 1949, it was a middle-class masterpiece – a transformative play that could bring even stoic-factory workers and tough-love fathers to tears. These days, the price of a ticket for the Broadway revival may be as out of reach for the average American family as a pro sports career was for Biff.
President Clinton prepares to sign legislation overhauling America's welfare system at the White House Rose Garden on Aug. 22, 1996. Today, the ranks of the nation's poor have swelled to a record 46.2 million — nearly 1 in 6 Americans — as the prolonged pain of the recession leaves millions still struggling and out of work.
Welfare changes in the 1990s helped slash cash benefit rolls, yet the use of food stamps is soaring today. About 15 percent of Americans use food stamps. The program has become what some call the new welfare.
A big reason why is a deal struck between President Clinton and the Republican-controlled Congress in 1996. At that time, the number of Americans who received cash payments — what's often thought of as welfare — was at an all-time high.
On the eve of the spring meetings of the World Bank and the International Monetary Fund, the IMF's managing director, Christine Lagarde, says there's a spring wind blowing in a recovery for the world economy.
But, she cautioned, there are still dark clouds on the horizon — a reference to the continued threats posed by Europe's sovereign debt crisis. Lagarde says making sure the IMF has the resources to manage that threat is this meeting's top priority.
A broker sits in the stock exchange in Madrid. Worries about Spain's finances intensified last week as the country's bond yields rose on international markets, making it more expensive for Spain to borrow money.
Credit Paul White / AP
Spain's Prime Minister Mariano Rajoy has said his country will weather its current economic troubles and will not need a bailout.
Credit Alberto Di Lolli / AP
People march during a demonstration against health and education cuts recently announced by the Spanish government, in Madrid on Sunday.
The House is scheduled to vote this week on a small-business tax cut bill offered up by Republicans. It's just the latest piece of legislation to focus on small businesses, which are widely praised in the political discourse as engines of job creation. The adoration is nearly universal — and it reflects something beyond economic reality.
"Small businesses create 2 out of every 3 jobs in this economy, so our recovery depends on them," President Obama said in 2012 at a New Jersey sandwich shop where he met with small-business owners.
Paul Schubert and his wife decided to buy a new car last summer — a really fuel-efficient one. After a lot of research, they settled on a Toyota Prius. But there was a problem: They couldn't find one.
The tsunami that devastated Japan in March had dried up supplies of the Prius, which is made in Japan, and a dealer told them they would have to wait — "about four months," Schubert says. "And we thought, well, it'd be, probably, end of November, early December before we were going to have a car."
Politicians and pundits frequently proclaim that they know what drives innovation and economic development. Despite their assurances, the chicken-and-egg question of whether quality education creates thriving economies or flourishing economies create good schools has been cycling around for years. For clues, Jordan Weissman, Associate Editor at the Atlantic, looked not to India’s booming IT industry or China’s cadre of engineers, but to Germany, circa 1386, when a papal schism opened up new opportunities for innovation.
Oil field workers drill into the Gypsum Hills near Medicine Lodge, Kan. Hydraulic fracturing, or "fracking," to coax out oil and gas has led to a natural gas boom that the U.S. market is having trouble absorbing.
There's a boom in natural gas production in the United States, a boom so big the market is having trouble absorbing it all.
The unusually warm weather this winter is one reason for the excess, since it reduced the need for people to burn gas to heat their homes. A bigger reason, however, is the huge increase in gas production made possible by new methods of coaxing gas out of shale rock formations.
The Central American nation of Panama is booming. Fueled by a multibillion-dollar expansion of the Panama Canal, a thriving banking industry and capital flight from Venezuela, the tiny nation has the highest economic growth rate in the hemisphere.
But even as the government builds a subway system and markets the country as a tropical paradise for multinational corporations, not everyone is sharing in the prosperity.
The turmoil in the housing market over the past few years has scared a lot of people away from homeownership. That means many people who can afford to buy are now renting. With so much demand for apartments, rents are once again on the rise. And in places like New York City, they're near record highs.
A few weeks ago Lauren Weitz got her first apartment in the city. Every night when she gets home from the office, she upholds a New York City tradition.