Recession | NYC Magazine

Economists Warn Of Tough Decade

The economists at the American Economic Association, or any economists for that matter, rarely come to a consensus on anything but had no problem doing just that as they concluded that the chances of the United States economy growing in 2010 aren’t good.

In fact, many of the economists who attended the group’s annual convention also believe that the next decade would not be particularly fruitful as the group suggested that the economy will grow less than two percent over the next 10 years.

Former chief of the National Bureau of Economic Research Martin Feldstein simply offered …continue reading

True Cost of Bailouts: $14 Trillion

Although the cost of the Wall Street bailout is usually said to be around $700 billion, the real cost of economic recovery is at least 20 times larger according to a recent breakdown of ALL of the government recovery programs by Mother Jones Magazine.

The $700 billion bailout that people usually allude to is only the cost of the TARP program that was passed about a year ago and even then, the bill that contained the $700 billion for TARP cost $850 billion because of all of the earmarks inside the bill.

Here’s a look at other …continue reading

Store Owner Shows Mercy to Broke Robber

In an unlikely feel good story, a would-be robber had his attempt thwarted by a shotgun wielding store owner, only to walk away with $40 and a loaf of bread.

The incident originally occurred in May.

As store owner Mohammad Sohail was closing up shop around midnight, a robber carrying a bat demanded that he empty out his register. Rather than complying, Sohail quickly grabbed a shotgun that he kept under his counter.

The robber quickly dropped his bat and began to plead with Sohail explaining that he had lost his job and could not feed …continue reading

NYC Magazine

Economists Warn Of Tough Decade

True Cost of Bailouts: $14 Trillion

Store Owner Shows Mercy to Broke Robber

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