economic crisis

Eurozone Jobless Rate Stuck at Record High 11.3% in July

The combination of harsh austerity and high uncertainty kept unemployment across the 17-country eurozone at a record high 11.3 percent in July. The data, reported by Eurostat Friday, underscores the huge task the continent's leaders face to restore confidence in its economy.

Recovery Threatened by Runaway Student Loan Debt

Surging above $1 trillion, U.S. student loan debt has surpassed credit card and auto-loan debt. This debt explosion jeopardizes the fragile recovery, increases the burden on taxpayers and possibly sets the stage for a new economic crisis.

The Scariest Part of Soaring Oil Prices: Investors' Fears

Friday's market sell-off may have been more about paranoia than about real risk. Some JPMorgan calculations indicate that the potential impact of rising oil prices on the economy may be less than most investors think. But the fear factor itself also can't be overlooked.

Job Growth Is Likely Next Year -- but How Much?

The good news is that economists generally expect employers to steadily add more workers in 2011, perhaps as many as 250,000 a month by year-end. However, with so many long-term unemployed returning to the market, the jobless rate could still outpace those new positions.

Pimco: The Tax Deal Will Boost Economic Growth

If the tax deal reached between congressional Republicans and President Obama is ratified, it most certainly will add to the budget deficit, but according to Pimco, which manages the world's largest bond fund, the stimulative measure will contribute much to economic growth.

Economy Still Growing Despite Jobs Report

Investors shouldn't overreact to the dismal November jobs report. Employers have historically held off on hiring when the stock market has been volatile, like last month.

Foreclosure Mess Puts Freeze on Housing Market

A massive loss of confidence in the foundations of property rights and rule of law has occurred. And this loss is having a devastating impact on the housing market, effectively locking up all those foreclosed homes that need to be sold. How can the economy heal while this goes on?

IMF Cuts Outlook for World Economic Growth

The International Monetary Fund cut its forecast for world economic growth, saying that the economic recovery will slow as governments cut their budgets. The IMF cut its outlook for the U.S. economy to 2.2% growth in 2011, from a previous estimate of 2.9%.

Is the 'New Normal' Slow Growth? Not Necessarily

Pessimists say growth simply won't be as vigorous as it was in the past. But a growing roster of high-profile money managers are taking aim at this theme, arguing that it is both wrong-headed and self-defeating.

Why Basel III's New Bank Capital Rules May Be Irrelevant

International bankers are hammering out the Basel III agreement, which will require banks to keep more capital in reserve relative to what they invest. It's a good idea, and one that would cushion the financial system from the next bust -- if the rules weren't being pushed so far into the future.

Why the Financial Crisis Spells the End of Western Power

In a new article, political scientist Ian Bremmer and respected economist Nouriel Roubini assert that the free-market system of capitalism has been so damaged by the recent financial crisis that the West's era of political and economic dominance may be gone for good.

Enron Hits Broadway: Story More Timely than Ever

Enron, a musical hit about the Texas energy company's dizzying rise and fall, is coming to Broadway. The story of high finance and fraud unfolded nine years ago, but in an economy still reeling from the Lehman Brothers collapse, it's lessons are more relevant -- and funnier -- than ever.

U.S. Attacks on China's Yuan Threaten the Global Recovery

Many high-profile U.S. lawmakers and economists stridently advocate trade sanctions to pressure China into raising the value of the yuan. But such threats would likely only backfire -- and the fallout would undermine the fledgling economic rebound.

The State of the Union
Will Depend on Jobs

During his address Wednesday night, look for President Obama to focus on solutions for problem No. 1: The lack of jobs. Employment growth will determine not just the economy's fate, but also that of the Democratic majorities in Congress -- and possibly of Obama's presidency.

One Way of Measuring the Rebound in 2009

Since President Obama took office in January, the "Cohan Economic Index" has risen from 100 to 113. What exactly does this index track, and how is it that it rose smartly? Let me explain.