March 29, 2017

Archives for March 2011

Japanese Nuclear Disaster Unfolds

Following the magnitude 9.0 earthquake and deadly tsunami nearly three weeks ago on March 11th, the Fukushima Daiichi nuclear energy facility along the northeastern coast of Japan has undergone at least three hydrogen explosions and continues to release radioactive steam and water. Precise measurements of the amount of released radioactive material are still unavailable, but […]

Corporate Profits Hurdle Recession

While a full recovery of the US economy remains in the distance, corporate profits have already achieved a complete recovery. During the fourth quarter of 2010, corporate profits hit an all time high of $1.678 trillion, according to the latest data [.pdf] from the Bureau of Economic Analysis. These fourth quarter results not only show […]

Home Prices Drop in January

The first report of residential home values in 2011 continued a dismal trend. During January, residential home values declined 1.0% in the twenty largest metropolitan cities, according to statistics [.pdf] released today from S&P. This is the sixth consecutive month with a reduction in home values. Excluding Washington, price reductions occurred in all twenty of […]

Home Sales Hit Record Low In February

The US housing market continued to struggle in February. New home sales declined 16.9% in February, according to statistics [.pdf] released today from the Housing Department and Census Bureau. February not only marks the second consecutive month with a double-digit decline in new home sales, but February also marks the lowest level of sales since […]

Alliance Bombs Libyan Air Force

After a month of deadly attacks against Libyan civilians, an international alliance launched the first phase of air assaults on Saturday against the Libyan air force and Muammar Gaddafi, who has led Libya for over forty years. Beginning February 15th, a mass demonstration throughout Libya called for Gaddafi to step down, but Gaddafi responded with […]

US Consumer Prices Rise in February

Prices for common goods in the US economy continued an upward trend in February. The consumer price index, a key indicator of inflation, rose 0.5% during February, according to statistics [.pdf] released today from the Labor Department. This is not only the eighth consecutive month with an increase in the costs of goods, but also […]

Housing Construction Tumbles

During February, residential construction declined 23%, according to housing statistics released today [.pdf] from the Census Bureau and Housing Department. This decline resulted with the third-lowest level of housing starts since record keeping began in 1959. There were 40,000 housing starts in February, or an annual rate of 479,000 (revised to 512,000 in March). April […]

Japanese Tsunami Footage

Yesterday, a magnitude 8.9 earthquake struck off the northeastern coast of Japan, triggering a deadly series of tsunami waves. The quake hit at 2:46 p.m. eighty miles east of Sendai and was the sixth most powerful quake on record, according to the US Geological Survey. The subsequent tsunami engulfed towns along Japan’s northeastern coast, as […]