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Latest Articles: Economy
Rand Paul: Obamatrade Tax Hikes on Small Businesses Mean Republicans Should Oppose Revival Efforts
Post Date: 2015-06-15 21:07:29 by Tooconservative
2 Comments
Sen. Rand Paul (R-KY) is calling on Republicans in the House—and the grassroots nationwide—to oppose efforts by House Ways and Means Committee chairman Rep. Paul Ryan (R-WI) to revive Obamatrade via a tax increase hidden inside the Trade Adjustment Assistance (TAA) portion of the deal. Paul said when asked to react to an article from Breitbart News from late Sunday evening exposing the tax increase in the deal: You know typically to pass these kinds of things, the establishment will try to buy off Democrats by sprinkling money so they have some money in there. To get the money, under our budget rules, we have to pay for it—so they want to pay for it with a fine on small ...
TPP Explained (In Comic Book Cartoons)
Post Date: 2015-06-14 22:48:13 by Tooconservative
8 Comments
Via EconomixComix,
Sessions to House GOP: TPA a Trojan horse for executive action on immigration, climate change; Update: Dem opposition “growing”
Post Date: 2015-06-12 11:06:25 by Tooconservative
18 Comments
The White House demand for plenary negotiating authority (Trade Promotion Authority or TPA) on the Pacific Rim trade pact has done what many thought impossible — unite the Left and the Right. In fact, it’s even united them on the same issue, the abuse of executive power …. although not in regard to the same policy areas. Key members in both caucuses and chambers on Capitol Hill want amendments to the TPA plan that will circumscribe executive power on immigration, climate change, and Wall Street regulation, reports William Mauldin at the Wall Street Journal: Rep. Paul Ryan (R., Wis.) is seeking to prevent President Barack Obama from using trade agreements to make changes to ...
Whites moving to Detroit, city that epitomized white flight
Post Date: 2015-05-21 12:54:25 by Willie Green
16 Comments
DETROIT (AP) — Whites are moving back to the American city that came to epitomize white flight, even as blacks continue to leave for the suburbs and the city's overall population shrinks.Detroit is the latest major city to see an influx of whites who may not find the suburbs as alluring as their parents and grandparents did in the last half of the 20th century. Unlike New York, San Francisco and many other cities that have seen the demographic shift, though, it is cheap housing and incentive programs that are partly fueling the regrowth of the Motor City's white population."For any individual who wants to build a company or contribute to the city, Detroit is the perfect ...
Feds Spent $100 Billion on Food Assistance Last Year [Full Thread]
Post Date: 2015-05-21 07:35:19 by GrandIsland
108 Comments
109,930,090 Americans participated in overlapping programs The federal government spent $100 billion providing food assistance to Americans last year, according to the Government Accountability Office (GAO). The lion’s share of spending comes from the food stamp program, which gave benefits to an average 46 million Americans in 2014, at a cost of $74.6 billion, according to a testimonyfrom the GAO’s Director of Education, Workforce, and Income Security Kay E. Brown before the House Subcommittee on Nutrition Wednesday. The national school lunch program was second, costing $11.3 billion, followed by the Special Supplemental Nutrition Program for Women, Infants, and Children ...
Once cash is banned they will be able to force you to buy products: “Just tax their excess account balance”
Post Date: 2015-05-19 09:33:03 by Deckard
11 Comments
In recent weeks we’ve seen numerous reports of how banks are actively working with governments to restrict cash usage. JP Morgan Chase, one of the world’s largest banks, has advised their customers that storing cash in their safe deposit boxes is no longer allowed – for your safety, of course. The new policy sounds ridiculous but makes complete sense when you consider that you would then be left with no other choice than to hold your money exclusively in your bank account, where the bank will simply charge you for the privilege of depositing your funds in their fine financial institution. Any normal working class individual would have the same reaction you’re ...
How to end boom and bust: make cash illegal
Post Date: 2015-05-13 16:20:54 by tpaine
6 Comments
www.telegraph.co.uk How to end boom and bust: make cash illegal Comment: Forcing everyone to spend only by electronic means from an account held at a government-run bank would give the authorities far better tools to deal with recessions and economic booms, writes Jim Leaviss Gordon Brown speaks in the first televised general election debate between Gordon Brown of the Labour Party , David Cameron of the Conservative Party and Nick Clegg of the Liberal Democrat Party at ITV1 North West base studios on April 15, 2010 Gordon Brown promised to 'end boom and bust' but a cashless world would have given him far more chance to achieve it, academics suggest Photo: Getty Images This ...
Moody's cuts Chicago credit ranking to junk
Post Date: 2015-05-13 11:52:51 by misterwhite
8 Comments
CHICAGO — Debt-ravaged Chicago had its credit rating cut to junk on Tuesday by Moody's Investors Service, just days after the Illinois Supreme Court rejected a plan to overhaul the state's woefully underfunded state pension plan. Mayor Rahm Emanuel criticized Moody's as being "irresponsible" and noted that their dour outlook of Chicago's difficult financial situation is four to six steps out of line with other leading rating agencies. "While Chicago's financial crisis is very real and at our doorsteps, today's irresponsible decision by Moody's to downgrade the City's credit by two steps goes far beyond that reality," Emanuel said. ...
Japan’s Maglev Train Hits World Record 366 Miles Per Hour
Post Date: 2015-04-18 08:18:57 by Willie Green
40 Comments
Central Japan Railway Co. said its magnetic levitation bullet train hit 590 kilometers per hour (366 miles per hour) on Thursday and broke the previous speed record set 12 years ago by the company. The train was operated on a test course constructed in Yamanashi prefecture in central Japan. The previous record of 581 kilometers per hour was set in December 2003. A spokeswoman at the company, known as JR Central, said the new record is likely to be short-lived, since the next test ride on Tuesday might see the train break 600 kilometers per hour. Prime Minister Shinzo Abe is set to talk up Japan’s train prowess on a visit to the U.S. starting April 26. Mr. Abe’s trip includes ...
Without rules, financial markets don't work
Post Date: 2015-04-17 11:53:49 by A Pole
23 Comments
For too long, the opponents of financial reform have cast the debate as an argument between the pro-regulation camp and the pro-market camp. They generally put Democrats in the first camp and Republicans in the second. But that so-called “choice” gets it all wrong. Rules are not the enemy of markets. Without some basic rules and accountability, financial markets don’t work. People get ripped off, risk-taking skyrockets, and markets fall apart. Rolling back the rules or firing the cops can be profoundly anti-market. Republicans claim – loudly and repeatedly – that they support competitive markets, but their approach to financial regulation is pure crony ...
Seattle Business Owner Raises His Workers' Minimum Pay to $70,000
Post Date: 2015-04-14 18:54:17 by GeorgiaConservative
6 Comments
A Seattle entrepreneur on Monday delivered a startling message to his employees — he is raising the minimum pay for all of his employees to $70,000, while reducing his own pay to the same amount from about $1 million. Dan Price, the founder of Gravity Payments, said he increased the minimum pay to $70,000 because of concerns about income inequality — and also because he wants his workers to not have to worry about basic needs. "Seattle is not the most affordable city and I want everyone that I know and care about to be able to do all the same basic stuff that I do," Price said. "I want them to be able to drive whatever car they want to drive as long as it's ...
National Data: STEM Wages’ Shocking Stagnation Destroys Case For Increased Immigration
Post Date: 2015-03-25 11:41:19 by nativist nationalist
2 Comments
Last week’s damaging Senate Judiciary Committee testimony (see here and here) suggests that legislation expanding H-1B program is going nowhere (which may be why the Regime is threatening one of its imperial decrees for guest workers: Indian IT Industry Gets a Boost As Obama Decides To Ease L-1B Visa Norms, by Mohul Gosh, Trak.in, March 24, 2015. But all the evidence you really need is in our chart above. (Mouseover for the underlying data). When a commodity is in short supply its price rises, thereby increasing supply, reducing demand, and eventually eliminating the shortage. If STEM workers were in short supply, their earnings would be increasing rapidly. Instead, the data show ...
Ayn Rand’s Worst Nightmare
Post Date: 2015-03-17 04:39:17 by A Pole
7 Comments
A few weeks ago a Colorado grassroots group, Be the Change, of which I am a board member, sponsored an all -day conference on public banking. I know, it sounds like the equivalent of an all- day climate debate between aging Republican Senators, but the public banking concept may have some value, it might even surprise you. Indeed, it could provide a source of funding for desperately needed infrastructure, particularly at the local level. Over 20 states are looking into the public banking option. But only one, North Dakota has a public bank, and it dates from the populist era, early in the last century. In a recent WSJ article the North Dakota bank was lauded for having a return on ...
Why 5.5 percent unemployment isn't as great as it seems
Post Date: 2015-03-07 13:59:02 by rlk
0 Comments
Why 5.5 percent unemployment isn't as great as it seems The job market, while improving rapidly, isn't as healthy as it looks. The Associated Press Mar 6th 2015 6:05PM Updated Mar 6th 2015 6:10PM WASHINGTON (AP) - Unemployment in the U.S. has dropped to a seven-year low of 5.5 percent - a level normally considered the mark of a healthy job market. Yet that number isn't as encouraging as it might sound. While U.S. employers added a solid 295,000 jobs in February, and the jobless rate fell from 5.7 percent, it went down mostly because many people gave up looking for work and were no longer officially counted as unemployed, the government reported Friday. What's more, wage ...
Pope Francis attacks 'throw-away' economic globalization [Full Thread]
Post Date: 2015-02-28 13:54:03 by Willie Green
66 Comments
(Reuters) - Pope Francis launched a fresh attack on economic injustice on Saturday, condemning the "throw-away culture" of globalization and calling for new ways of thinking about poverty, welfare, employment and society. In a speech to the association of Italian cooperative movements, he pointed to the "dizzying rise in unemployment" and the problems that existing welfare systems had in meeting healthcare needs. For those living "at the existential margins" the current social and political system "seems fatally destined to suffocate hope and increase risks and threats," he said. The Argentinian-born pope, who has often criticized orthodox market ...
Guest Post: "Coin Bars, Melts and The Bundesbank", by Ronan Manly
Post Date: 2015-02-12 02:04:10 by Dead Culture Watch
3 Comments
The Keys to the Gold Vaults at the New York Fed – Part 3: ‘Coin Bars’, ‘Melts’ and the Bundesbank by, Ronan Manly Part 1 of this series reviewed Federal Reserve Bank of New York (FRBNY) publications that cover the Fed’s gold storage vaults in Manhattan, and illustrated how the information in these publications has been watered down over time. Part 1 also showed that the number of foreign central bank customers storing gold with the FRBNY has fallen substantially since the late 1990s. Part 2 covered the Fed’s rarely discussed ‘Auxiliary Vault’ and suggested that this auxiliary vault of the Fed is probably located in the neighbouring Chase ...
Where Is Germany's Gold? Almost half of GermanyÂ’s gold is stored in vaults under the streets of Manhattan. Or is it?
Post Date: 2015-02-11 00:32:49 by Pericles
13 Comments
Where Is Germany's Gold? Almost half of Germany’s gold is stored in vaults under the streets of Manhattan. Or is it? Peter Boehringer hates the word “conspiracy.” It implies something crazy, and if you spend even a little time with the 45-year-old German, it becomes clear he’s driven by a desire for order. On a recent morning in Munich, he’s dressed in a cobalt blue shirt that matches his blue tie and blue eyes. His black hair is cropped close above his receded hairline. In his gray Volkswagen minivan, the cup holder contains two identical water bottles, each filled to the same level. At the end of a daylong interview, for which Boehringer has arranged an ...
In Search of Cheap Labor in Tech: Behind the H1-B Visa Scenes
Post Date: 2015-02-05 19:46:28 by Dead Culture Watch
9 Comments
In April, 2014, it emerged that Southern California Edison, a utility with about 14,000 employees at the time, was planning another round of layoffs. Most of them would be in its Information Technology Department, which had 1,800 employees and 1,500 contract workers. SCE admitted to the plan but told the LA Times that it hadn’t finalized the number. State Senator Alex Padilla then told the paper that as many as 500 employees and 500 contractors would be let go. Laying off workers and outsourcing some functions was part of its “ongoing efforts to act as cost effectively and prudently as possible in operations for its customers.” These efforts at the IT department would ...
Why are U.S. gas prices suddenly inching up?
Post Date: 2015-02-03 01:29:47 by Otter
4 Comments
ByBruce Kennedy MoneyWatch February 2, 2015, 2:06 PM Why are U.S. gas prices suddenly inching up? Retail gas prices in the U.S. are creeping up for the first time since September. According to AAA's latest Monthly Gas Price Report, average gas prices rose for seven straight days last week, after previously falling for a record 123 consecutive days. "Many drivers are noticing an uptick in gas prices for the first time in months," AAA spokesman Avery Ash said in a statement. "It is typical to see gas prices increase this time of year due to refinery issues, yet hopefully the consumer impact will be less problematic given how low prices are today." Play Video ...
Report: RadioShack to close all stores
Post Date: 2015-02-02 21:38:48 by GeorgiaConservative
5 Comments
(KTRS) – Radio Shack has been selling communication equipment since 1921, but according to Bloomberg, the retail chain will not be celebrating a 100th birthday. As part of a bankruptcy deal, RadioShack Corp. will be shutting down their entire chain of 7,000 tech stores, half of which will be reportedly sold to Sprint. According to the report, RadioShack locations that are sold to Sprint would operate under the wireless carrier’s name, meaning RadioShack would cease to exist as a stand-alone retailer. RadioShack received a rescue financing package from Standard General LP in October, and the hedge fund would serve as the lead bidder in a filing and provide debtor-in-possession ...
U.S. Oil Workers Stage Largest National Strike Since 1980
Post Date: 2015-02-02 20:48:08 by SOSO
1 Comments
U.S. Oil Workers Stage Largest National Strike Since 1980 Helen Regan@hcregan Oil workers in the U.S. began the largest national strike since 1980 on Sunday, after failing to agree on new labor contracts. The United Steelworkers Union (USW) called for about 3,800 employees to strike in nine sites across the country, affecting plants that account for 10% of the total U.S. refining capacity, reports Bloomberg. USW failed to agree on five contracts offered by lead negotiators Royal Dutch Shell PLC on behalf of several major oil companies including Chevron Corp. and Exxon Mobil Corp. When the current contract expired on Sunday, USW said it “had no choice” but to call the walkout ...
Americans are failing to pump gas-price savings back into the economy
Post Date: 2015-02-01 15:13:13 by Willie Green
9 Comments
Americans are taking the money they are saving at the gas pump and socking it away, a sign of consumers’ persistent caution even when presented with an unexpected windfall. This newfound commitment to frugality was illustrated this past week when the nation’s biggest payment-card companies said they aren’t seeing evidence consumers are putting their gasoline savings toward discretionary items like travel, home renovations and electronics. Instead, people are more often putting the money aside for a rainy day or using it to pay down debt. That more Americans are saving their bounty at the pump comes as a surprise, because the personal savings rate, after rising during and ...
Quantitative easing around the world: lessons from Japan, UK and US
Post Date: 2015-01-22 21:02:23 by Gatlin
1 Comments
The European Central Bank is poised to launch a €1tn round of quantitative easing on Thursday, years after other world central banks embarked on monetary stimulus.
The Federal Reserve embarked on QE in November 2008 with the hope of steering the world’s largest economy through the depths of the financial crisis. When it was launched under then Fed chairman Ben Bernanke – dubbed “Helicopter Ben” for his desire to drop money out of the sky – it was, and remains, a contentious policy decision.
As the US backdrop steadily improved in the aftermath of the Fed’s cash injection, the central bank gradually slowed its bond-buying programme from $85bn a month to $15bn a month. After more than ...
Bill to Legalize Hemp Cultivation in the United States Filed in Senate
Post Date: 2015-01-16 11:55:29 by Hondo68
5 Comments
Two Democrats from Oregon have teamed up with two Republicans from Kentucky to introduce a bill that would legalize industrial hemp cultivation and production nationwide. WASHINGTON, DC — A bill to legalize industrial hemp cultivation and production nationwide has been filed in the United States Senate with bi-partisan support, including Senate Majority Leader Mitch McConnell (R-KY). The bill, Senate Bill 134, was filed last week by Senator Ron Wyden (D-OR). The bill is co-sponsored by Senators McConnell, Jeff Merkley (D-OR) and Rand Paul (R-KY), and has been assigned to the Senate Judiciary Committee. Titled the “Industrial Hemp Farming Act of 2015,” the bill would remove ...
Corporate America is maiming the U.S. economy
Post Date: 2015-01-14 14:59:55 by Willie Green
3 Comments
The former secretary of labor explores why the median wage remains so low even as employment is on the rise Jobs are coming back, but pay isn’t. The median wage is still below where it was before the Great Recession. Last month, average pay actually fell. What’s going on? It used to be that as unemployment dropped, employers had to pay more to attract or keep the workers they needed. That’s what happened when I was labor secretary in the late 1990s. It still could happen – but the unemployment rate would have to sink far lower than it is today, probably below 4 percent. Yet there’s reason to believe the link between falling unemployment and rising wages has ...
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