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On March 15, Senator Chris Dodd introduced a bill to regulate big banks. It sets up a Consumer Financial Protection Agency to be under the Federal Reserve. It gives regulators the authority to split up large banks, so none of them become “too big to fail.” It eliminates loopholes for hedge funds, derivatives and mortgage brokers. It also suggests an independent agency that has the authority... (more...)

It’s no surprise that, during a recession, shoppers search for the best buy. But a recent survey reports that Consumers are buying “good enough” products, and finding themselves pleasantly surprised that they are “good enough.” This increases the risk for businesses, who can no longer get by on either a low cost OR a high value strategy. They must provide both. Those... (more...)

Well, well, well. Could credit card use start to pick up again soon? In January, credit card debt, dropped only 2.3%, after falling a record 18.7% in November 2009. However, such a small drop in January may mean Americans are feeling secure enough to start sounding the familiar refrain of “Charge it!” onsumers still owe $865 billion, or $7,330 per household. The 12-month decline is... (more...)

The February employment report shows there are 3.2 million fewer jobs than February of last year. This is bad, BUT it is better than July, when there were 6.8 million fewer jobs year-over-year. To see the trend, review my calculations on Jobs Google Spreadsheet. The unemployment rate remained at 9.7%. This would have to continue for another eight months to be as bad as the 1982 recession, when... (more...)