Herman Cain's political star is lately on the rise, thanks in no small part to the persistent marketing of his '9-9-9 plan' to reform the tax code. Independent economists say the plan takes us into uncharted territory.
At about noon Thursday, the Dow Jones Industrial Average was off 370 points, or 3.3 percent. On Wednesday, the Federal Reserve said 'there are significant downside risks to the economic outlook.'
Under grimmest scenario, debt-burdened Greece, Ireland, Italy, and Spain can't pay what they owe to Eurozone banks, which then stumble, causing US banks to falter, too. But US banking system is stronger now, and regulators are more vigilant, say optimists.
Stock market gains early Friday morning were wiped out by noon, before another rally ensued. A better-than-expected jobs report gave some analysts hope that another recession could be averted.
Some private economists see devastating effects, such as stock markets plunging. But other economists don't envision such a scenario, suggesting that the Fed, for example, may step in.
The dollar has taken a beating, but that makes America an attractive destination for foreigners looking for bargain vacations. It's a boon for the US tourist industry and travel-related jobs.
Higher interest rates. No money for things like highways, federal workers, defense contractors, food stamps. Return to recession. That's what most economists see as inevitable if national debt ceiling is not raised.
New home sales and existing home sales dipped last month and prices continue to fall. But the slump is sowing the seeds of its own housing recovery.
The Department of Energy, aiming to boost US competitiveness, gives a $150m. loan guarantee to a Massachusetts firm that has found a way to dramatically reduce the cost of solar voltaic cells.
Gas prices may be high, but 35 million Americans plan on Memorial Day travel. Gas prices may change spending patterns from Memorial Day 2010.