Articles About Economics

First-class mail is likely the next casualty as the United States Postal Service (USPS) looks for ways to stave off bankruptcy. The USPS is planning to shutter 252 mail processing centers nationally and slow first-class delivery as soon as spring, citing steadily declining mail volume. According to USPS vice president David Williams, the agency wants […]

Bill Gates, Sr., a retired attorney in Washington state, supports a ballot initiative that would require the state’s highest earners — including himself and his son — to pay an income tax.  Currently, the state does not collect personal income taxes. The father of billionaire Microsoft founder Bill Gates, Jr., believes that the poor pay […]

Facebook is contemplating the idea raising about $10 billion in an IPO that would value the predominant social-networking website at more than $100 billion.  At $10 billion, the offering would raise significantly more money than any other technology IPO, and Facebook expects investors to be eager to buy into the social-networking company.  The IPO would […]

In a stunning revelation, Bloomberg has obtained 29,000 pages of Federal Reserve documents detailing the largest bailout in American history.  According to an article that will appear in the January issue of Bloomberg Markets magazine, the “Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on December […]

Fewer borrowers currently are delinquent on their home loans, a Mortgage Bankers Association (MBA) report shows.  Curiously, new foreclosures are rising in states like California.  This is evidence that the nation still must endure significant pain before the housing crisis finally comes to an end.  According to some analysts, the nation is only halfway through […]

A record 226 million Americans shopped in stores and online during the four-day Thanksgiving holiday, an increase from 212 million last year, according to estimates by The National Retail Federation (NRF).  These eager shoppers also spent more: The typical holiday shopper spent $398.62, an increase from the $365.34 reported last year.  Approximately 24 percent of […]

American companies ordered more heavy machinery, computers and other long-lasting manufactured goods in September, an encouraging sign for the shaky economy.  The increase in demand for these durable goods suggests businesses are staying with investment plans, despite slow growth and a lack of consumer confidence. Durable goods are products expected to last a minimum of […]

Italy’s Prime Minister Silvio Berlusconi has asked for international oversight of his efforts to slash the eurozone’s second-largest debt, even as his unraveling coalition threatens efforts to build a wall against Europe’s debt crisis.  Berlusconi’s government asked the International Monetary Fund (IMF) to assess its debt-reduction progress, and turned down an offer of financial assistance. […]

Households headed by older adults have made impressive gains when compared with those headed by younger adults in their economic well-being over the past 25 years, according to a Pew Research Center analysis. In 2009, households headed by adults aged 65 and older had 42 percent more net worth (assets minus debt) than households headed […]

This year’s Thanksgiving dinner on average will cost 13 percent more than it did in 2010. The price of the traditional holiday meal for 10 people will average $49.20, an increase from $43.47 in 2010, according to the American Farm Bureau Federation (AFBF).  That’s the biggest increase since 1990, as the cost of sweet potatoes, […]