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Latest Articles: Economy

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Barack Obama faces new headache as the US economy stumbles
Post Date: 2011-04-24 09:16:15 by Sebastian
0 Comments
Barack Obama faces new headache as the US economy stumbles Expansion in gross domestic product (GDP) is expected to have slowed to 1.8pc in the first quarter of the year from the 3.1pc seen in the final three months of 2010, according to Wall Street economists. Most point out that a combination of higher oil prices, a particularly harsh winter in the US and the earthquake in Japan all proved unexpected constraints on a quarter that in December was forecast to provide further evidence of a strengthening recovery. "Things are not looking that good," said Yelena Shulyatyeva, an economist at BNP Paribas, which is predicting that the US will see growth at 2.5pc this year. "The ...

Dairy industry struggles to escape hard times
Post Date: 2011-04-23 12:51:00 by mininggold
4 Comments
Dairy industry struggles to escape hard times Thu, 2011-04-21 12:17 Heartbreaking stories of despairing dairymen weigh heavily on the minds of fellow dairy farmers struggling across the nation.In 2008 a Corcoran dairyman’s suicide left seven young children without their father. In 2009, Western Farm Press said four dairymen committed suicide in Tulare County. Last year a New York dairy farmer shot 51 of his milk cows, then took his own life. From The Business Journal: Heartbreaking stories of despairing dairymen weigh heavily on the minds of fellow dairy farmers struggling across the nation. In 2008 a Corcoran dairyman’s suicide left seven young children without their father. ...

California Dreamin'—of Jobs in Texas [Full Thread]
Post Date: 2011-04-23 10:01:02 by CZ82
45 Comments
California Dreamin'—of Jobs in Texas Hounded by taxes and regulations, employers in the once-Golden State are moving East.. By John Fund Austin, Texas It wasn't your usual legislative hearing. A group of largely Republican California lawmakers and Democratic Lt. Gov. Gavin Newsom traveled here last week to hear from businesses that have left their state to set up shop in Texas. "We came to learn why they would pick up their roots and move in order to grow their businesses," says GOP Assemblyman Dan Logue, who organized the trip. "Why does Chief Executive magazine rate California the worst state for job and business growth and Texas the best state?" The ...

Would You Accept Clinton Tax Rates If Combined With Gingrich Spending Levels?
Post Date: 2011-04-21 06:56:04 by CZ82
4 Comments
Would You Accept Clinton Tax Rates If Combined With Gingrich Spending Levels? By Noel Sheppard The media were enthralled by former Federal Reserve chairman Alan Greenspan's suggestion on Sunday's Meet the Press that we should immediately end the Bush tax cuts and raise the marginal brackets to what they were in Clinton's last year in office. Before conservatives summarily cast this aside, maybe it should be considered with one caveat: we also go back to former House Speaker Newt Gingrich's spending levels in 1999. Consider the numbers before thinking me crazy. Gingrich's last budget before he resigned as Speaker had total unified expenditures -- meaning including ...

Want to "voluntarily" help pay down the government debt??
Post Date: 2011-04-19 07:11:57 by CZ82
4 Comments
How do you make a contribution to reduce the debt? There are two ways for you to make a contribution to reduce the debt: •You can make a contribution online either by credit card, checking or savings account at Pay.gov •You can write a check payable to the Bureau of the Public Debt, and in the memo section, notate that it's a Gift to reduce the Debt Held by the Public. Mail your check to: Attn Dept G Bureau of the Public Debt P. O. Box 2188 Parkersburg, WV 26106-2188 Poster Comment:For those of you that think we aren't paying enough taxes, here is something for you. You can give as much as you want to help reduce the government debt.... Anytime of the day or ...

Kinetic economist extraordinaire Barry H. Obama claims Standard & Poor doesn't have a clue about rating credit
Post Date: 2011-04-18 17:46:52 by Happy Quanzaa
4 Comments
Obama Plays Down S&P Outlook Change The Obama administration moved swiftly Monday to downplay ratings agency Standard & Poor's downgrade of its U.S. credit outlook, calling the decision a political judgment that should not be taken too seriously. The timing of S&P's announcement was unwelcome for the White House, coming just as President Obama tried to regain the initiative on the deficit debate in Washington. Last week Obama laid out his plan to reduce the budget deficit by $4 trillion over 12 years, trying to give markets confidence that he was serious about tackling U.S. fiscal woes. House Republican leader Eric Cantor on Monday called the S&P downgrade ...

Eat the Rich
Post Date: 2011-04-17 10:55:40 by Happy Quanzaa
4 Comments
I've often said that I wish there were some humane way to get rid of the rich. If you asked why, I'd answer that getting rid of the rich would save us from distraction by leftist hustlers promoting the politics of envy. Not having the rich to fret over might enable us to better focus our energies on what's in the best interest of the 99.99 percent of the rest of us. Let's look at some facts about the rich laid out by Bill Whittle citing statistics on his RealClearPolitics video "Eat the Rich." This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up the money? According to IRS ...

California's Renewable Economic Suicide
Post Date: 2011-04-16 08:28:28 by CZ82
2 Comments
California's Renewable Economic Suicide By Claude Sandroff Gov. Jerry Brown, flakier now as a recycled geriatric governor than he was as Governor Moonbeam decades ago, has decided to place his state into economic hospice care. By proudly signing legislation that would require California to obtain 33% of its electric power from renewable sources by 2020 -- the Renewable Energy Bill -- he is telegraphing that the state does not have much longer to live. Already plagued with some of the highest energy costs in America, California businesses are now guaranteed even higher costs. If you learn about a manufacturing-focused company currently domiciled in California that does not have an ...

Obamanomics: Inflation Actually Near 10% Using Older Measure
Post Date: 2011-04-13 09:34:52 by Happy Quanzaa
1 Comments
After former Federal Reserve Chairman Paul Volcker was appointed in 1979, the consumer price index surged into the double digits, causing the now revered Fed Chief to double the benchmark interest rate in order to break the back of inflation. Using the methodology in place at that time puts the CPI back near those levels. Inflation, using the reporting methodologies in place before 1980, hit an annual rate of 9.6 percent in February, according to the Shadow Government Statistics newsletter. Since 1980, the Bureau of Labor Statistics has changed the way it calculates the CPI in order to account for the substitution of products, improvements in quality (i.e. iPad 2 costing the same as ...

Mr. President: Why Medicare Isn’t the Problem, It’s the Solution
Post Date: 2011-04-13 00:46:18 by lucysmom
10 Comments
The real problem is the soaring costs of health care that lie beneath Medicare. They’re costs all of us are bearing in the form of soaring premiums, co-payments, and deductibles. Americans spend more on health care per person than any other advanced nation and get less for our money. Yearly public and private healthcare spending is $7,538 per person. That’s almost two and a half times the average of other advanced nations. Yet the typical American lives 77.9 years – less than the average 79.4 years in other advanced nations. And we have the highest rate of infant mortality of all advanced nations. Medical costs are soaring because our health-care system is totally screwed ...

Kinetic Obamanomics: Oil Climbs Above $112 on Libyan Armed Revolt, Dollar Weakness
Post Date: 2011-04-08 13:51:30 by Happy Quanzaa
0 Comments
Crude rose above $112 in New York for the first time in 30 months and Brent topped $125 on skepticism that Libyan output will rebound when fighting ends and as a weaker dollar increased demand for commodities. Futures rose as much as 1.6 percent in New York as Barclays Capital said strikes on Libyan oilfields by forces loyal to Muammar Qaddafi ended hopes for a prompt resumption of exports, and will help send prices toward $130 a barrel. Raw materials surged as the dollar dropped to the lowest level against the euro in more than a year. “Since the Libya unrest began, there’s been a re-coupling of the inverse relationship between the dollar and oil,” said Stephen Schork, ...

Demand shrinking between companies as durable goods costs rise
Post Date: 2011-04-08 04:50:30 by KellyD
1 Comments
Orders of durable goods have fallen in the past month, which is being attributed to weaker customer demand, between other things. As customers are buying fewer items, businesses order durable gods from manufacturers, or products that should last a few years like computers or appliances. The transportation industry, though, was not affected, as you will find nevertheless orders for new planes and automobiles. Article resource - Demand shrinking among businesses as durable goods prices rise by MoneyBlogNewz. Fewer people wanting manufactured products do not hurt transportation Transportation has been doing really good, reports AOL News. This is during a time where there has been a huge ...

Derailing Brown's Tax Plan
Post Date: 2011-04-07 16:28:36 by CZ82
25 Comments
Derailing Brown's Tax Plan By Peter Hannaford Governor Jerry Brown's foolproof plan to deal with California's $26 billion deficit hasn't quite gone off the rails, but it's teetering. The plan, announced early in his new term this year, was to call a special election in June to let the voters decide whether to extend for five years several taxes about to expire. At first, the idea polled well, including majority support for the tax extensions. This, along with some legislative budget cuts, would solve the problem. If the voters said "no" to the tax extensions, severe cuts would ensue, but the voters would have been warned in advance. It was the perfect way ...

Obamanomics in Action: Gold, Oil Soar to Fresh Highs As Inflation Fears Mount
Post Date: 2011-04-06 15:05:44 by Happy Quanzaa
5 Comments
Gold hit record highs a second straight day Wednesday and oil soared to fresh 2-1/2 year highs, sparking fears of inflation that could hurt some of the world's most dependable economies. Price pressures were rising in Asia's emerging economies — which had been the catalyst for the world's recovery from the financial crisis — and were unlikely to subside soon, the Asian Development Bank cautioned. "High and volatile oil and food prices will, in particular, reverberate through the world economy, and they are likely to stay that way in 2011-2012,'' the ADB said. "They will thus be a significant source of global inflation, especially in developing ...

Ron Paul: Gold, Commodity Prices “Big Event” Signaling Economic Collapse
Post Date: 2011-04-06 13:00:05 by Hondo68
3 Comments
Skyrocketing gold, silver, oil and other commodity prices, a brazen attempt by the Federal Reserve to monetize a staggering and deleterious debt, a precipitously falling dollar, creeping inflation – these are elements of a “big event,” Ron Paul told Alex Jones on Tuesday. “It's huge, and it has started,” Paul said, and it may be identified as such within 30 days. “I believe it is the beginning" you and others have been talking about commodity prices going up.” The Texas Congressman noted that even the former boss of the Federal Reserve, Alan Greenspan, has warned about out of control inflation. “A necessary condition for long-term ...

UPDATE 2-Oil could hit $200-$300 on Saudi unrest-Yamani
Post Date: 2011-04-05 16:41:46 by Happy Quanzaa
1 Comments
* Political discontent in Saudi not resolved-Yamani * "Surprises on the horizon" Yamani predicts * Consultant says Saudi a "time bomb", change inevitable By Emma Farge LONDON, April 5 (Reuters) - Oil prices could rocket to $200- $300 a barrel if the world's top crude exporter Saudi Arabia is hit by serious political unrest, former Saudi oil minister Sheikh Zaki Yamani told Reuters on Tuesday. Yamani said he saw no immediate sign of further trouble following protests last month calling for political reforms but said that underlying discontent remained unresolved. "If something happens in Saudi Arabia it will go to $200 to $300. I don't expect this for ...

Washington braces for shutdown amid budget impasse
Post Date: 2011-04-05 10:35:19 by Happy Quanzaa
2 Comments
WASHINGTON, April 5 (Reuters) - Washington braced for a shutdown as Republican and Democratic lawmakers headed to the White House on Tuesday in an attempt to reach a budget deal that would keep the government running beyond Friday. With only four days to cement a deal, the two sides have yet to resolve major differences in a long-overdue budget plan that would slice a record $33 billion from current spending levels. The White House directed government agencies to prepare for a shutdown if the U.S. Congress does not pass a budget plan before funding runs out at midnight on Friday. [ID:nN05100992] Republicans have floated a new plan that would push the deadline back by a week and impose ...

GOP 2012 budget to make $4 trillion-plus in cuts
Post Date: 2011-04-03 17:29:56 by Happy Quanzaa
5 Comments
WASHINGTON (AP) -- A Republican plan for the 2012 budget would cut more than $4 trillion over the next decade, more than even the president's debt commission proposed, with spending caps as well as changes in the Medicare and Medicaid health programs, its principal author said Sunday. The spending blueprint from Rep. Paul Ryan, the chairman of the House Budget Committee, is to be released Tuesday. It deals with the budget year that begins Oct. 1, not the current one that is the subject of negotiations aimed at preventing a partial government shutdown on Friday. In an interview with "Fox News Sunday," Ryan said budget writers are working out the 2012 numbers with the ...

States broke? Maybe they cut taxes too much [Full Thread]
Post Date: 2011-04-01 11:12:58 by lucysmom
56 Comments
In his new budget proposal, Ohio Republican Gov. John Kasich calls for extending a generous 21 percent cut in state income taxes. The measure was originally part of a sweeping 2005 tax overhaul that abolished the state corporate income tax and phased out a business property tax. The tax cuts were supposed to stimulate Ohio's economy and create jobs. But that didn't happen once the economy tanked. Instead, the changes ended up costing Ohio more than $2 billion a year in lost tax revenue; money that would go a long way toward closing the state's $8 billion budget gap for fiscal year 2012. "At least half of our current budget problem is a direct result of the tax changes we ...

Obamanomics in action: Wal-Mart CEO Bill Simon expects "serious" inflation
Post Date: 2011-03-31 04:20:13 by Happy Quanzaa
0 Comments
U.S. consumers face "serious" inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday. The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors. Still, inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate." Along with steep increases in raw material costs, John Long, a retail strategist at Kurt Salmon, says ...

Gasoline up 100% under Obama
Post Date: 2011-03-31 04:13:51 by Happy Quanzaa
24 Comments
Feeling pain at the pump? Gas prices have doubled since Mr. Obama took office. According to the GasBuddy gasoline price tracking web site, the price of a gallon of regular gas was around $1.79 when Mr. Obama took office. Today the national average is $3.58. The lowest average price in the continental United States is $3.31 in Tulsa Oklahoma, the highest is $4.14 in Santa Barbara, CA. Four-dollar-a-gallon gas has arrived on average throughout California, and a number of other states are headed in that direction. Consumer price index (CPI) figures from February show an unadjusted 12 month gasoline inflation rate of 19.2%, but in the last month alone prices jumped 6.8%, probably because of ...

Obamanomics: Mass. job fair canceled because of lack of jobs
Post Date: 2011-03-25 12:50:34 by Happy Quanzaa
1 Comments
TAUNTON -- A Massachusetts employment organization has canceled its annual job fair because not enough companies have come forward to offer jobs. Richard Shafer, chairman of the Taunton Employment Task Force, says 20 to 25 employers are needed for the fair scheduled for April 6, but just 10 tables had been reserved. One table was reserved by a nonprofit that offers human services to job seekers, and three by temporary employment agencies. Shafer tells the Taunton Daily Gazette the lack of employers means the task force won't have enough money to properly advertise the fair. The task force has been organizing the job fair nearly every year since 1984. Shafer says the cancellation ...

You Wanna Know Why Detroit Is A Corpse?
Post Date: 2011-03-24 20:57:10 by CZ82
0 Comments
You Wanna Know Why Detroit Is A Corpse? by Andrew Marcus Glenn Reynolds links to the following: WHO KILLED DETROIT? Sure, a lot of the blame goes to a generation of bad management. But the main reason for Detroit’s decline is the greed of the industry’s main union, the UAW, which priced the Big Three out of the market. If you want some insight as to why Detroit is a corpse, and why the Democrat Party is standing in the corner holding a shiv with matching cut marks to the slit in the city’s throat, simply read the archives of the Detroit chapter of the Democratic Socialists of America. The archives of the Detroit DSA confirm the quote above about the UAW, but to fully ...

Govt Sitting on $703 Billion in 'Unobligated' Money
Post Date: 2011-03-20 11:30:27 by CZ82
0 Comments
Govt Sitting on $703 Billion in 'Unobligated' Money Friday, 11 Feb 2011 12:24 PM By Deroy Murdock More ways to share... Mixx Stumbled LinkedIn Vine Buzzflash Reddit Delicious Newstrust Technocrati Share: More . . . A A | Email Us | Print | Forward Article It's enough to make a budget hawk lose his feathers. Notwithstanding President Barack Obama's promise in his State of the Union address to freeze domestic discretionary spending for five years, Vice President Joseph Biden Tuesday proposed $53 billion in high-speed rail projects atop $8 billion so previously "invested." This is every boy's dream: the ultimate train set. Thank you, Santa! For their part, ...

Obama: The 'Pay More at the Pump' President
Post Date: 2011-03-20 04:32:11 by Happy Quanzaa
1 Comments
American Solutions is re-launching Drill Here, Drill Now, Pay Less for one big reason: President Obama’s continuing war on American energy is dramatically increasing the price of gas and diesel. To be fair, President Obama is in favor of drilling…but just not in the United States. His numerous bans, restrictions, and proposed taxes are hamstringing America’s ability to produce more oil and gas and are thereby increasing gas and diesel prices. In fact, even the federal government projects that domestic oil production will drop by 220,000 barrels per day in 2011 due to the President’s anti-drilling agenda. Production in 2012 will drop even more. If we produce less ...

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