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Latest Articles: Economy
U.S. Trade Policy: Populist Anger or Out-of-Touch Elites?
Post Date: 2016-05-16 10:19:47 by Willie Green
1 Comments
Just how disconnected is the business elite and Washington policy class from the way most Americans actually experience the U.S. economy? The presidential primary campaigns of both political parties have exposed widespread voter anger over U.S. global trade policies. In response, hardly a day has recently gone by without the New York Times, the Washington Post and other defenders of the status quo lecturing their readers on why unregulated foreign trade is good for them. The ultimate conclusion is always the same – that voters should leave complicated issues like this to those intellectually better qualified to deal with them. So much for democracy. U.S. Elites: Self-Contradictory ...
Donald Trump Walks Back Tax Plan, Saying 'It's Going to Be Negotiated'
Post Date: 2016-05-08 10:23:58 by Willie Green
22 Comments
As Donald Trump pivots to the general election battle, he's already walking back his tax plan, the most specific policy proposal he has released during the campaign. "By the time it gets negotiated, it's going to be a different plan," Trump told George Stephanopoulos on ABC News' "This Week." In Trump’s tax plan, the wealthiest individuals would get a tax break, with the top tax rate dropping from 39.6 percent to 25 percent. But when pressed if he wants taxes on the wealthy to go up or down, he predicted that the top rate would be higher than the plan says. "On my plan they're going down. But by the time it's negotiated, they'll go ...
Silent Coup Beginning to Overtake America Now
Post Date: 2016-05-06 21:53:43 by U don't know me
4 Comments
Silent Coup Beginning to Overtake America Now-Larry Nichols By Greg Hunter On May 6, 2016 In Political Analysis 78 Comments 1aBy Greg Hunter’s USAWatchdog.com Former Clinton insider Larry Nichols has worked with, and now against, the Clintons. Nichols has some of the top political and financial connections on the planet. Nichols hopes the public is finally realizing the enormous power struggle going on. Nichols explains, “There is no two-party system in the United States of America. Let’s get that straight. There is no two-party system, there is one. Part of it is a red team and part of it is a blue team. You think you have a choice, but as you know you only have a choice ...
Very Big Correction for All Markets Coming
Post Date: 2016-05-01 21:02:47 by U don't know me
11 Comments
Very Big Correction for All Markets Coming-Alasdair Macleod By Greg Hunter On May 1, 2016 In Market Analysis 32 Comments 1cBy Greg Hunter’s USAWatchdog.com (Early Sunday Release) Financial expert Alasdair Macleod says the most important economic news concerns the U.S. dollar. Macleod explains, “I think the most important point is actually the dollar has turned. The panic move into the dollar by miners and producers of raw material . . . was driving the dollar up. That has now ceased. China has now started buying those raw materials, base metals, oil and so on and so forth. So, the result is the commodity crisis is over. That, actually, is the biggest driver of the dollar, which ...
Wages of Labour
Post Date: 2016-04-29 04:26:25 by A Pole
7 Comments
Wages are determined through the antagonistic struggle between capitalist and worker. Victory goes necessarily to the capitalist. The capitalist can live longer without the worker than can the worker without the capitalist. Combination among the capitalists is customary and effective; workers’ combination is prohibited and painful in its consequences for them. Besides, the landowner and the capitalist can make use of industrial advantages to augment their revenues; the worker has neither rent nor interest on capital to supplement his industrial income. Hence the intensity of the competition among the workers. Thus only for the workers is the separation of capital, landed property, and ...
Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically
Post Date: 2016-04-26 22:34:29 by U don't know me
22 Comments
Economy In Decline: Apple Reports Massive Revenue Decline As iPhone Sales Plummet Dramatically By Michael Snyder, on April 26th, 2016 Apple iPhone And Apple Computer - Public DomainCorporate revenues in the United States have been falling for quite some time, but now some of the biggest companies in the entire nation are reporting extremely disappointing results. On Tuesday, Apple shocked the financial world by reporting that revenue for the first quarter had fallen 7.4 billion dollars compared to the same quarter last year. That is an astounding plunge, and it represents the very first year-over-year quarterly sales decline that Apple has experienced since 2003. Analysts were ...
In 1 Out Of Every 5 American Families, Nobody Has A Job
Post Date: 2016-04-24 22:25:59 by U don't know me
1 Comments
In 1 Out Of Every 5 American Families, Nobody Has A Job By Michael Snyder, on April 24th, 2016 Family Silhouette - Public Domain 2If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring up that number. Nor do ...
The Collapse Of The Western Fiat Monetary System May Have Begun
Post Date: 2016-04-24 22:10:36 by U don't know me
2 Comments
The Collapse Of The Western Fiat Monetary System May Have Begun By Peter Koenig April 24, 2016 "Information Clearing House" - On 19 April 2016, China was rolling out its new gold-backed yuan. Russia’s ruble has been fully supported by gold for the last couple of years. Nobody in the western media talks about it. Why would they? – A western reader may start wondering why he is constantly stressed by a US dollar based fiat monetary systems that is manipulated at will by a small elite of financial oligarchs for their benefit and to the detriment of the common people. In a recent Russia Insider article, Sergey Glaziev, one of Russia’s top economists and advisor to ...
Plus Plus Plus
Post Date: 2016-04-23 22:14:12 by U don't know me
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Plus Plus Plus April 12, 2016 By: The Mogambo Guru Lately, I am getting, you know, really scared. Oh, not the ordinary kind of day-in, day-out kind of scared, constantly dreading both the appearance of childish-yet-pointless alliteration and the coming calamitous collapse of a catastrophic cataclysm caused, pausing for breath, by the completely insane overproduction of cash and credit by the (you guessed it!) evil Federal Reserve, and then winding up, as we see, with both. At least back in those olden, golden days, a modicum of blessed comfort was once provided by having gold, silver, and sheer firepower at hand, backed up by 911 on the phone. Except this is a ...
COMEX Default Is Coming Soon
Post Date: 2016-04-23 21:03:06 by U don't know me
4 Comments
COMEX Default Is Coming Soon-Bill Holter By Greg Hunter On April 23, 2016 By Greg Hunter’s USAWatchdog.com (Special Release) According to financial writer Bill Holter, we are getting to the end of the gold and silver price suppression game. Holter contends, “Because the inventories are so small, silver and gold registered categories (at COMEX) total about $1.2 billion. That’s nothing in today’s world. That’s less than one day’s interest the U.S. pays on its debt. I don’t see this going for a long time because inventories are so small. . . . This whole suppression game on gold and silver was brought about to protect the reserve currency, the dollar, ...
47 Percent Of Americans Cannot Even Come Up With $400 To Cover An Emergency Room Visit
Post Date: 2016-04-21 20:54:30 by U don't know me
17 Comments
47 Percent Of Americans Cannot Even Come Up With $400 To Cover An Emergency Room Visit By Michael Snyder, on April 20th, 2016 If you had to make a sudden visit to the emergency room, would you have enough money to pay for it without selling something or borrowing the funds from somewhere? Most Americans may not realize this, but this is something that the Federal Reserve has actually been tracking for several years now. And according to the Fed, an astounding 47 percent of all Americans could not come up with $400 to pay for an emergency room visit without borrowing it or selling something. Various surveys that I have talked about in the past have found that more than 60 percent of all ...
Harriet Tubman to be featured on U.S. $20 bill
Post Date: 2016-04-20 15:13:02 by Willie Green
9 Comments
Civil rights activist Harriet Tubman will replace slaveholding former President Andrew Jackson on the $20 bill, becoming the first African-American woman to be featured on the face of U.S. paper currency in more than a century. The U.S. Treasury will announce the changes on Wednesday, spokesman Rob Runyan said in a phone interview. He declined to elaborate. The decision to replace Jackson, a slaveowner, with Tubman, who was born a slave and went on to become an anti-slavery crusader, follows months of public outreach by the Treasury Department regarding which woman should be featured on a bill. The department had announced in June that it would feature a woman on the $10 bill in place ...
Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic
Post Date: 2016-04-10 21:39:10 by U don't know me
16 Comments
Economic Collapse Is Erupting All Over The Planet As Global Leaders Begin To Panic By Michael Snyder, on April 10th, 2016 Earth Ready To Explode - Public DomainMainstream news outlets are already starting to use the phrase “economic collapse” to describe what is going on in some areas of our world right now. For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year is starting to get a lot worse. In this article, we are going to examine evidence of this from South America, Europe, Asia and North America. Once we are done, it should be obvious that there is absolutely no reason to be ...
U.S. Has Record 10th Straight Year Without 3% Growth in GDP
Post Date: 2016-02-28 10:19:19 by cranky
3 Comments
(CNSNews.com) - The United States has now gone a record 10 straight years without 3 percent growth in real Gross Domestic Product, according to data released by the Bureau of Economic Analysis.The BEA has calculated GDP for each year going back to 1929 and it has calculated the inflation-adjusted annual change in GDP (in constant 2009 dollars) from 1930 forward.In the 85 years for which BEA has calculated the annual change in real GDP there is only one ten-year stretch—2006 through 2015—when the annual growth in real GDP never hit 3 percent. During the last ten years, real annual growth in GDP peaked in 2006 at 2.7 percent. It has never been that high again, according to the ...
Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores
Post Date: 2016-02-26 10:41:55 by U don't know me
7 Comments
Economic Recovery? 13 Of The Biggest Retailers In America Are Closing Down Stores By Michael Snyder, on February 25th, 2016 Barack Obama recently stated that anyone that is claiming that America’s economy is in decline is “peddling fiction“. Well, if the economy is in such great shape, why are major retailers shutting down hundreds of stores all over the country? Last month, I wrote about the “retail apocalypse” that is sweeping the nation, but since then it has gotten even worse. Closing stores has become the “hot new trend” in the retail world, and “space available” signs are going up in mall windows all over the United States. Barack Obama ...
Average Hourly Earnings: Deciphering Historical Trends
Post Date: 2016-02-20 20:03:29 by SOSO
28 Comments
Average Hourly Earnings: Deciphering Historical Trends September 12, 2012 by Doug Short There is, however, another broad series that dates from 1964 -- one tracks the hourly earnings for Production and Nonsupervisory private employees. Before we look at that complete series, here is an overlay of the two (Total Private and Production/Nonsupervisory) for the overlapping timeframe. The objective is to see the relative correlation between the two. Now let's step back and view the complete Production/Nonsupervisory series, which dates from January 1964 (giving us a January 1965 start for the YoY data). At first glance the chart looks horrible. We are currently at a level below the ...
History lessons: Understanding the decline in manufacturing
Post Date: 2016-02-19 13:01:40 by SOSO
28 Comments
History lessons: Understanding the decline in manufacturing Email logo Email Share logo Share Tweet logo Tweet Print logo Print By Louis D. Johnston | 02/22/12 . American factory REUTERS/Adam Fenster U.S. industrial decline is a long-run phenomenon and will not be reversed by short-term fixes. New ideas for reviving American manufacturing seem to appear every day. Many of these notions have merit, but most are built on a flawed premise: that the decline in U.S. factory jobs is a recent occurrence, one that can be reversed through tax cuts or trade policy. Unfortunately, U.S. industrial decline is a long-run phenomenon and will not be reversed by short-term fixes. ...
Freight Truck Orders Plummeted 48% in January
Post Date: 2016-02-04 10:28:02 by Stoner
0 Comments
Orders for new big rigs plunged in January, as trucking companies eyeing weak shipping demand held back from investing in fleets. Just 18,200 new trucks were ordered last month, down 48% from a year earlier and marking the second-lowest monthly total since 2012, ACT Research said Wednesday. The data dashed equipment makers’ hopes that relatively strong December orders would carry over into the new year. Instead, trucking companies are canceling expansion plans and postponing trade-ins for their older vehicles. They fear that new trucks will sit idle if lower-than-expected retail sales over the holidays and signs of contraction in the manufacturing sector translate into a sluggish ...
The Real Price of Oil Is Far Lower Than You Realize
Post Date: 2016-01-15 14:21:03 by SOSO
10 Comments
The Real Price of Oil Is Far Lower Than You Realize by Grant Smith January 13, 2016 — 5:01 PM MST Updated on January 14, 2016 — 1:54 AM MST While oil prices flashing across traders’ terminals are at the lowest in a decade, in real terms the collapse is even deeper. West Texas Intermediate futures, the U.S. benchmark, sank below $30 a barrel on Tuesday for the first time since 2003. Actual barrels of Saudi Arabian crude shipped to Asia are even cheaper, at $26 -- the lowest since early 2002 once inflation is factored in and near levels seen before the turn of the millennium. Slumping prices are a critical signal that the boom in lending in China is ...
The Minimum Wage Hike Hangover Arrives: Dining Out To Cost 10% More Starting January 1
Post Date: 2016-01-02 18:10:48 by Hondo68
4 Comments
One year ago, when the brainwashed economist Ph.D intelligentsia was stampeding over each other to come up with the most hyperbolic terms to dub the recovery that would be unleashed on the economy as a result of plunging oil, and gas, prices - with "unambiguously good" being our personal favorite - we would write post after post explaining just how wrong this is, and how in a hyperfinancialized economy, a 2-year record collapse in oil prices is about as "unambiguously bad" as it gets, and not just only for the hundreds of thousands of highly paid energy sector workers who had been the only source of in the early years after the financial crisis. Back then US GDP had ...
No Inflation, No Interest, No Recovery: How Printing Money Enslaves the Middle Class
Post Date: 2015-12-29 13:02:29 by cranky
2 Comments
There is a spirited argument among economists about whether the much-delayed “Obama Recovery” has arrived, and whether it’s anything to celebrate if so. A real recovery, sufficient to begin healing the enormous damage to our workforce and pull government debt out of its death spiral, would be obvious. We wouldn’t have economists peering at spreadsheets with electron microscopes to detect it. Why should anyone celebrate an economy that leaves most workers with declining wages and a growing burden of debt? Even left-wingers agree, uncomfortably, that “income inequality” got much worse under Obama, as the rich got richer, while the poor… didn’t. ...
Alaska governor proposes income tax to help plug budget gap
Post Date: 2015-12-09 16:00:16 by Willie Green
1 Comments
JUNEAU, Alaska (AP) — Alaska Gov. Bill Walker is proposing instituting a personal income tax for the first time in 35 years as the oil-dependent state looks to plug a multibillion-dollar budget deficit amid chronically low prices. In laying out his budget plan Wednesday, Walker also proposed using the fund that provides annual checks to most Alaskans to generate a stream of cash to help finance state government. The plan would change how dividends are calculated and mean lower checks, at least initially — with 2016 payouts about $1,000 less than this year's. Alaska isn't alone among oil-producing states to experience hard times as oil prices stay low. But unlike states ...
Will Congress Pass Spending Bill Before Deadline? (One vote to let unlimited spending expire, requiring a supermajority to resume insanity)
Post Date: 2015-12-08 21:41:47 by Hondo68
2 Comments
Congress is hoping to close out its session and depart for the holidays, but two major items remaining on its agenda are standing in the way: the omnibus bill and a tax break extenders package. The current government spending bill is set to expire on December 11, but congressional leaders have already indicated that its highly unlikely a budget agreement will be reached before then, setting the stage for yet another potential shutdown. Lawmakers have stated that a stopgap spending bill will be passed to keep the federal government open after Friday, and will serve to buy more time for talks on the omnibus. But according to White House spokesman Josh Earnest, President Obama will not sign ...
The War on Terror is Creating More Terror
Post Date: 2015-11-30 16:33:51 by Hondo68
7 Comments
The interventionists will do anything to prevent Americans from seeing that their foreign policies are perpetuating terrorism and inspiring others to seek to harm us. The neocons know that when it is understood that blowback is real – that people seek to attack us not because we are good and free but because we bomb and occupy their countries – their stranglehold over foreign policy will begin to slip. That is why each time there is an event like the killings in Paris earlier this month, they rush to the television stations to terrify Americans into agreeing to even more bombing, more occupation, more surveillance at home, and more curtailment of our civil liberties. They tell us ...
Inequality in South Africa: A Post-Apartheid Analysis
Post Date: 2015-11-17 13:34:19 by SOSO
9 Comments
Inequality in South Africa: A Post-Apartheid Analysis July 7, 2015 - 1:05pm | admin By Alireza Saniei-Pour Twenty years after South Africa’s transition to democracy, inequality continues to be a major concern in the country, with stark contrasts between the haves and have nots. Troublingly, despite policy reforms aimed at reducing inequality, South Africa still has a two-tiered economy, and lacks the “stepladder” positions that allow for the growth of the middle class. Current evidence shows that increasing wage differentials between people at the 90th and 50th percentiles are driving this persistent inequality. Contrary to the popular belief that inequality is growing ...
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