A correction is always equal and opposite to the claptrap that preceded it.

The U.S. economy is in decline.  The latest figures show it growing more slowly than the population, which means, the average citizen is getting poorer.

Bill Bonner writes that the bull market in commodities isn't over.

Yesterday, George W. Bush signed the housing bill in which up to $300 billion is to be spent bailing out naïve homeowners, caddish mortgage lenders and Wall Street geniuses.

During the last two decades, the percentage of the U.S. economy devoted to consumer spending went up from 67% of GDP to 72%.

Has inflation topped out?

The boom in finance is over, but that doesn’t mean there won’t be some spectacular bounces.

Taking food and energy out of the consumer price index is not the right way to think about money, inflation and the economy.

Like any civil war, the civilians are getting killed.  They're ambushed by higher consumer prices one day and bushwhacked by falling asset prices the next.

President Bush has dropped his threat of a veto for the housing bill that will bail out both Fannie Mae and Freddie Mac.