Best-laid plans get sidetracked by meltdown

President Barack Obama faced a new rash of bad economic news Monday as his Treasury Department prepared to hand out $30 billion more to bail out an international insurance and investment giant and Wall Street shed value even before it opened for trading.

The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year.

When debt management plan can help.

Bad economy cuts our taste, and options, for easy credit, but that may not be so bad

Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.

Wall Street started November on a cautious note Monday, as stocks rose moderately after last week’s surge and ahead of readings on manufacturing activity, construction spending and auto sales.

Free markets are under assault in America. We have seen much hyperbole and slander in these past two years of political polarization. But the idea of capitalism and free markets has received more negative campaigning and vicious attack than both candidates combined.

Beaten down and watching their wealth shrink, Americans are cutting back sharply on their spending, trimming it in September by the largest amount in four years.

U.S. employers slashed payrolls by 159,000 in September, the most in more than five years, a worrisome sign that the economy is hurtling toward a deep recession.

Assigning blame for recent events in the financial markets is today’s most pressing political issue. Unintended cause and effect are both complex and subtle, but recognizing the culprits is important if we want to avoid giving them additional power and responsibility.

Since the fall of the Soviet Union in 1991, Russia has been trying to remake itself and regain its former glory and respect. The country’s fall from superpower to emerging market deeply wounded its people’s pride.

Personal incomes plunged in July while consumer spending slowed significantly as the impact of billions of dollars in government rebate checks began to wane.

The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.

Federal Reserve Chairman Ben Bernanke said Friday the financial crisis that has pounded the country — coupled with higher inflation — is taking a toll on the economy and poses a major challenge to Fed policymakers as they try to restore stability.

Even as consumers face soaring energy costs, rising food prices and higher mortgages or rent, it seems clear they’re not prepared to forgo many of life’s little treats — alcohol, cigarette and candy makers are all reporting healthy sales amid the gloom.

Think of confidence as a continuum: Lack of confidence is paralyzing, self-confidence is good, but overconfidence is deadly.

About 2 million Americans get a raise Thursday as the federal minimum wage rises 70 cents. The bad news: Higher gas and food prices are swallowing it up, and some small businesses will pass the cost of the wage hike to consumers

Researchers have identified dozens of mental shortcuts. One heuristic that the brain uses to solve complex evaluations is to make an initial guess and then adjust from that point as we receive additional information to find a better answer. This mental process is called “anchoring.”

During the one-year period ending June 30, 2008, the S&P 500 index lost 13.12 percent. The MSCI EAFE Index of international developed markets lost 10.6 percent (in U.S. dollars). Significantly, 10 of the most economically free countries only lost 6.2 percent

The stress from deepening debt is becoming a major pain in the neck — and the back and the head and the stomach — for millions of Americans.

Imagine you knew you were going to die peacefully in your sleep at the end of your 100th year. Becoming a centenarian is more common these days, and it’s a much safer assumption than using average longevity. Half the people live longer than average, and a significant percentage live much longer. So our best case scenario is not just a fantasy.

Many academics are 403(b) rich. But they are poor in terms of their spendable assets, which limits estate planning and tax management options. It also makes retiring early difficult. Fortunately, an IRS 72(t) exception can help with early retirement.

Look ahead when facing foreclosure Behind all the grim national foreclosure statistics are real people who need help.