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Latest Articles: Economy
Gas Prices Signal Tsunami of Inflation
Post Date: 2012-02-27 15:13:34 by Capitalist Eric
0 Comments
A good friend of mine, who has family living abroad, called me this weekend. One of the first things out of his mouth was about his sister in London and how she was dealing with “terrible inflation.” No doubt he was talking about the spike in gasoline prices that have risen to more than $8 a gallon. (The official inflation rate in the UK is around 3.6%, but I’m sure the numbers over there are as reliable as the inflation numbers in the U.S. where fuel and food are not counted in the so-called “core” inflation.) Part of this price spike is due to Iran cutting off crude oil shipments to the EU recently, but part of it is the fact the UK has been engaging in ...
Obamanomic Report: Obama owns these gas prices
Post Date: 2012-02-25 05:47:00 by Happy Quanzaa
1 Comments
With the average price of a gallon of gasoline rising 40 cents just last week, President Obama attacked Republicans yesterday, trying to distract voters from his own failed energy policy. “The American people aren’t stupid,” Obama said “You know there are no quick fixes to this problem.” And Obama is right. There are no quick fixes to this problem. But Obama has been in office for three years now. There is plenty the federal government can do to lower gas prices in three years. Problem is, everything Obama has done on energy has been designed to increase Americans’ pain at the pump. Immediately after taking office in 2009, Obama canceled 77 leases for oil and ...
Gasoline Prices Are Not Rising, the Dollar Is Falling (Obamanomics)
Post Date: 2012-02-24 11:49:50 by Hondo68
8 Comments
Panic is in the air as gasoline prices move above $4.00 per gallon. Politicians and pundits are rounding up the usual suspects, looking for someone or something to blame for this latest outrage to middle class family budgets. In a rare display of bipartisanship, President Obama and Speaker of the House John Boehner are both wringing their hands over the prospect of seeing their newly extended Social Security tax cut gobbled up by rising gasoline costs. Unfortunately, the talking heads that are trying to explain the reasons for high oil prices are missing one tiny detail. Oil prices aren’t high right now. In fact, they are unusually low. Gasoline prices would have to rise by another $0 ...
The Health Care Spending Paradox
Post Date: 2012-02-23 15:06:58 by lucysmom
1 Comments
Amid all the debate concerning the morality, legality, and feasibility of health-care reform, the United States faces a central paradox in its health-care system: we spend more than any other industrialized country on health, yet we rank among the lowest in many dimensions of health. Our health-care spending is more than 17 percent of our gross domestic product, nearly double the spending in many other industrialized countries. But we rank far below most of these same nations in measures of life expectancy, infant mortality, and maternal mortality, among other key statistics. The huge costs and poor outcomes are difficult for Americans to fathom, and we have been eager for decades to reform ...
Obamanomic Report: FL Drivers Shelling Out Nearly $6/gal @ Some Gas Stations
Post Date: 2012-02-22 15:09:10 by Happy Quanzaa
9 Comments
TAMPA (CBS Tampa) — Talk about pain at the pump! Some Florida drivers are spending nearly $6 a gallon to fill up their gas tanks. According to GasBuddy.com, motorists are shelling out $5.89 for a gallon of regular gas at a Shell station in Lake Buena Vista, topping out at $5.99 a gallon for premium. It doesn’t get better at a Suncoast Energy station in Orlando, where drivers are paying $5.79 for a gallon of regular. “Prices over in the Disney World area are much higher than any other place in Florida,” Jessica Brady, AAA spokeswoman, told CBS Tampa, adding that people regularly complain about gas prices in that area. The Sunshine State is opening up its wallet, paying ...
The Price Of Gas Is Outrageous – And It Is Going To Go Even Higher (Obongonomics)
Post Date: 2012-02-20 11:13:15 by Hondo68
7 Comments
Does it cost you hundreds of dollars just to get to work each month? If it does, you are certainly not alone. There are millions of other Americans in the exact same boat. In recent years, the price of gas in the United States has gotten so outrageous that it has played a major factor in where millions of American families have decided to live and in what kind of vehicles they have decided to purchase. Many Americans that have very long commutes to work end up spending thousands of dollars on gas a year. So when the price of gas starts going up to record levels, people like that really start to feel it. But the price of gas doesn't just affect those that drive a lot. The truth is that ...
Obamanomic Report: $4+/gal by June
Post Date: 2012-02-14 09:40:11 by Happy Quanzaa
6 Comments
Gas prices' earliest-ever rise above $3.50 a bad sign for motorists American motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year. Analysts say it's likely a sign that pain at the pump will rise to some of the highest levels ever seen later this year. In 2008, average gasoline prices had hit inflation-adjusted records nationally by the summer, but they didn't climb above $3.50 a gallon across the U.S. that year until April 21, according to the AAA Fuel Gauge Report. It happened again last year, but not until March 6. But $3.50 a gallon gasoline is already ...
Obamanomic Report: Barry admits recovery 1-2 years away-Unemployed carpenter: "He’s a lying SOB”
Post Date: 2012-02-13 09:49:54 by Happy Quanzaa
10 Comments
The public President Obama, bubbly in his reelection campaigning about a recovering U.S. economy, isn’t as optimistic in private, telling a select few that it will likely take up to two years for any recovery to click in. A letter provided to Washington Secrets from Obama to a long-unemployed Portland, Maine carpenter pulls back the curtain of economic hope to reveal the truth about the stagnant economy. “I won’t lie to you,” Obama penned in hand to Charles Oliver in October. “It will probably take another year or two to fully dig our way out of this hole.” Oliver had written the president in June to ask: “Are we as Americans going to be alright?” ...
Greeks Channel Hippocrates in Hospital Superbug Fight as Crisis Saps Funds
Post Date: 2012-02-10 10:39:54 by lucysmom
1 Comments
Greek doctors are fighting a new invisible foe every day at their hospitals: a pneumonia-causing superbug that most existing antibiotics can’t kill. The culprit is spreading through health centers already weighed down by a shortage of nurses. The hospital-acquired germ killed as many as half of people with blood cancers infected at Laiko General Hospital, a 500-bed facility in central Athens. snipThe culprit is spreading through health centers already weighed down by a shortage of nurses. The hospital-acquired germ killed as many as half of people with blood cancers infected at Laiko General Hospital, a 500-bed facility in central Athens. The drug-resistant K. pneumoniae bacteria ...
David Graeber’s Debt: My First 5,000 Words
Post Date: 2012-02-09 10:44:22 by lucysmom
4 Comments
In the final lines of his introduction to Debt: The First 5,000 Years, David Graeber writes that “[f]or a very long time, the intellectual consensus has been that we can no longer ask Great Questions.” And as he put it in a guest post over at Savage Minds: The aim of the book was to write the sort of book people don’t write any more: a big book, asking big questions, meant to be read widely and spark public debate…[T]he credit crisis —and near collapse of the global economy in 2008—afforded the perfect opportunity. In the wake of the disaster, it was as if suddenly, everyone wanted to start asking big questions again. Even The Economist, that bastion of ...
Obamanomics in Action: Dependency Index Surges 23% Under Barry
Post Date: 2012-02-08 10:32:55 by Happy Quanzaa
4 Comments
The American public's dependence on the federal government shot up 23% in just two years under President Obama, with 67 million now relying on some federal program, according to a newly released study by the Heritage Foundation. The conservative think tank's annual Index of Dependence on Government tracks money spent on housing, health, welfare, education subsidies and other federal programs that were "traditionally provided to needy people by local organizations and families." The increase under Obama is the biggest two-year jump since Jimmy Carter was president, the data show. The rise was driven mainly by increases in housing subsidies, an expansion in Medicaid and ...
Make Unemployed Youth Work For Free: Davos Delegates
Post Date: 2012-02-04 10:23:50 by lucysmom
17 Comments
Young people should work for free for up to two years to gain experience, youth and business leaders said at the World Economic Forum in Davos Thursday. A new UN resolution to enshrine the importance of a couple of years of voluntary work for young people was urged by delegates including Maurice Lévy, chairman and chief executive of Publicis Groupe, as part of a CNBC-moderated debate on how to avert a lost generation of unemployed youth. “It’s a bad idea which fails to recognize the heterogeneity of the population,” Peter Diamond, economics professor at the Massachusetts Institute of Technology, said. “These would be wasted years for some.” The world ...
Government Math: How to Cook the Books for Barry & Deliver Bogus Unemployment Numbers
Post Date: 2012-02-03 10:36:46 by Happy Quanzaa
2 Comments
Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low A month ago, we joked when we said that for Obama to get the unemployment rate to negative by election time, all he has to do is to crush the labor force participation rate to about 55%. Looks like the good folks at the BLS heard us: it appears that the people not in the labor force exploded by an unprecedented record 1.2 million. No, that's not a typo: 1.2 million people dropped out of the labor force in one month! So as the labor force increased from 153.9 million to 154.4 million, the non institutional population increased by 242.3 million meaning, those not in ...
Only 36% are stupid enough to approve Obamanomics
Post Date: 2012-02-02 11:56:14 by Happy Quanzaa
3 Comments
Obama's Economic Approval Just 36 Percent February 2, 2012 10:46am 40 Comments Obama's Economic Approval Just 36 Percent byPaul Bedard In another indication of the difficulty President Obama's reelection campaign faces, only 36 percent of likely voters grade the administration's handling of the economy at good or excellent, according to a new Rasmussen poll. In a national survey of 1,000 likely voters January 31-February 1, a whopping 62 percent grade the president at fair to poor, with poor collecting the largest number: 45 percent. Still, Democratic officials say that they see a positive trend built on slightly better unemployment and housing numbers that could end up ...
First Lady Michelle Obama Cites 'Remarkable Progress' On The Economy
Post Date: 2012-02-01 20:47:11 by Murron
8 Comments
First Lady Michelle Obama Cites 'Remarkable Progress' On The Economy First Lady Michelle Obama cited "remarkable progress" on the economy during a speech for a small crowd of high-profile Hollywood names in Los Angeles on Tuesday evening. "In the last three years, we've worked hard to get out of this mess and we've made some remarkable progress," the first lady told a group of about 135 supporters at a private campaign event for her husband. She listed President Obama's accomplishments on healthcare reform, the removal of troops from Iraq and the repeal of "Don't ask, don't tell" among other items on the list of "promises ...
Pres. Obama is now accepting resumes at CareerDestroyer.com
Post Date: 2012-01-31 18:42:39 by Happy Quanzaa
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NRCC @NRCC Reply Retweet Favorite · Open Pres. Obama is now accepting resumes at CareerDestroyer.com Promoted by NRCC Followed by Newt 2012 Campaign and others
Stressed? It’s the new normal
Post Date: 2012-01-29 10:34:28 by lucysmom
6 Comments
Are you feeling stressed right now? As 2012 gets under way, plenty of people would probably say “yes.” But when the American Psychological Association recently posed this question, the results were distinctly surprising.
Although 22 per cent of Americans described themselves as “very stressed”, this figure was slightly down on the previous year, when it was 24 per cent – and well below 2007, when it was 32 per cent. Indeed, the measured levels of stress have been dropping steadily over the past five years since the APA started its survey. In 2007, for example, the mean stress level was 6.2 per cent, whereas this year it was “only” 5.2 per cent.
At first glance, this looks odd. ...
Obamanomics in action::: 2011 GDP: 1.7%
Post Date: 2012-01-27 12:33:23 by Happy Quanzaa
0 Comments
2011 GDP: 1.7% That's the final, pathetic growth number for 2011. From the just-released GDP report: Real GDP increased 1.7 percent in 2011 (that is, from the 2010 annual level to the 2011 annual level), compared with an increase of 3.0 percent in 2010. The increase in real GDP in 2011 primarily reflected positive contributions from personal consumption expenditures (PCE), exports, and nonresidential fixed investment that were partly offset by negative contributions from state and local government spending, private inventory investment, and federal government spending. Imports, which are a subtraction in the calculation of GDP, increased. Not exactly a barnburner. Now see...The 50 ...
Rich People Create Jobs! And five other myths that must die for our economy to live
Post Date: 2012-01-26 13:09:11 by lucysmom
5 Comments
In the movie Groundhog Day, Bill Murray's character is forced to relive a single day over and over and over—waking up to the same song every morning, meeting the same people, having the same conversations—until, after thousands of repetitions, he finally realizes what a shmo he's been his entire life. With that epiphany, the calendar starts to flip forward again. His life reboots, and he once again gets to hear new songs, meet new people, and have entirely new conversations. When it comes to the economy, we're stuck in our own version of Groundhog Day—and this one doesn't seem to be coming to an end. America is in a deep and persistent slump, and unemployment ...
Obamanomics in Action: Broke man sells O’s letter
Post Date: 2012-01-24 14:34:46 by Happy Quanzaa
0 Comments
An unemployed Maine carpenter wrote President Obama asking if America’s future was as bleak as it seems — and got a handwritten reply from the president. But Charles Oliver, a 53-year-old former Marine, had to sell that letter and the one he wrote on eBay to meet expenses. “The reason for this letter, sir, is to ask my president one specific question. Mr. President are we as Americans going to be alright?” he wrote. Obama replied: “Charles, I know things are tough right now and I won’t lie to you — it will probably take another year or two to fully dig our way out of this hole.” The letter fetched $2,500.
Under Obama, Price of Gas Has Jumped 83%, Ground Beef 24%, Bacon 22%
Post Date: 2012-01-23 16:55:55 by Happy Quanzaa
0 Comments
Under Obama, Price of Gas Has Jumped83 Percent, Ground Beef 24 Percent,Bacon 22 Percent By Christopher Goins January 20, 2012 – So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics. During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent. When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS. (The figures are in nominal dollars: not adjusted for inflation.) Five months later in June, unleaded gasoline was $2.26 per gallon, an ...
British study links IMF loans to tuberculosis
Post Date: 2012-01-14 10:37:33 by lucysmom
1 Comments
Austerity measures attached to International Monetary Fund (IMF) loans may have contributed to a resurgence in tuberculosis in eastern Europe and the former Soviet Union, researchers said on Tuesday. Governments may be reducing funding for health services such as hospitals and clinics to meet strict IMF economic targets, the British researchers said. The study, published in the Public Library of Science journal PLoS Medicine, found that countries participating in IMF programmes had seen tuberculosis death rates increase by at least 17 percent between 1991 and 2000 -- equivalent to more than 100,000 additional deaths. About one million new cases were recorded during the same period. ...
Kucinich bill seeks to end the Federal Reserve
Post Date: 2012-01-09 12:23:20 by lucysmom
27 Comments
A bill put forward by Congressman Dennis Kucinich (D-OH) would do what libertarians and conservatives have long wished for: effectively end the Federal Reserve. The National Emergency Employment Defense (NEED) Act of 2011 would place the Federal Reserve, a private, qusai-governmental institution that controls the nation’s monetary policy, under control of the U.S. Treasury. It would also implement new rules for the financial industry, in hopes of ending the worst abuses that created the 2008 financial collapse and the ensuing recession. Listening to Kucinich speak about the Fed, one gets the sense that he’s moved even closer to the position typically championed by his polar ...
Made in America
Post Date: 2012-01-08 10:11:49 by sneakypete
1 Comments
www.allamericanstore.us/
Poster Comment:As far as I know this is the first web site dedicated to selling ONLY American made products of general interest. Some of the prices are ridiculious (200 bucks for a freaking cauling gun?),but others seem more in line with reality. At any rate,take a look and put your money where your mouth is.
Ron Paul and the Banks
Post Date: 2012-01-07 11:44:30 by lucysmom
13 Comments
We should take Ron Paul seriously. The Texas congressman had an impressive showing in the Iowa caucuses on Tuesday and his poll numbers elsewhere are resilient – he is running a strong third among Republicans nationally and is currently second in New Hampshire polling. He may well become the Republican candidate with populist momentum and energy in the weeks ahead. Mr. Paul also has a clearly articulated view on the American banking system, laid out forcefully in his 2009 book, “End the Fed.” This book and its bottom-line recommendation that the United States should return to the gold standard – and abolish the Federal Reserve System – tend to be dismissed out of ...
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