Latest Articles: Economy
The taboo that could break america.
Trump Impeachment DOA in Senate
Seattle Sure Waited a Long Time to Implement This New Policy on Rioting
Warden/Executioner interview-Charlie Jones
He Reveals What 1950s Men Thought & Did
7 Black Americans Express Their Rage In The 1960s
Jackie Kennedy on MLK: 'That man's terrible' - theGrio
World Mourns Nehru
STaTes Eye ... Allowing Concealed Carry of Guns --- WiThouT a PermiT
FEC Filing of the "Patriot Party"
NYC ouT of conTrol ... 12 sub humans beaT man - sTrip him naked - sTeal everyThing --- in broad daylighT on major inTersectTon
It's This Simple: Liz Cheney Must Go
Rand Paul Wipes the floor with pedophile lover George Stephanopoulos
Worst Fishing Day Ever (Winter Fishing) ***Bad Idea***
Pelosi Wanted Machines Guns
They're Coming to America
Alexandria Ocasio-Cortez Skipped Biden's Inauguration...And The Reason Is Beyond Idiotic
Bernie Sanders predicts the Democratic Party could be 'wiped out' in the 2022 midterm elections
Larry King ... Television legend --- dies aT age 87
OuTrage over U.S. flag flown upside down ... aT half sTaff at SouTh Maui posT office --- InauguraTion Day
Biden won’t stop them, and neither will cops, until Portland is burned down
SALUTE THE MARINE!!!!!
Trump's greatest legacy: The GOP now represents America's workers
Joe’s ... firsT 17 AcTs --- Of DesTructTon
google is evil
Now wiTh The UniTed StaTes Taken ouT --- They have a glide paTh To “build iT back beTTer” / “susTainabiliTy” / “social justTce” us --- inTo “The GreaT ReseT
DAY ONE: Beijing Biden Kills Keystone Pipeline and Thousands of Jobs, Rejoins Paris Climate Accord, Removed 1776 Project, Vows to Restart Iran’s Nuclear Program, Fed Mask Mandates
Republicans Block Swift Approval of Biden's DHS Pick
President Donald J. Trump Departure Ceremony
Stop the Steal
Feds ArresT Pennsylvania Woman ... Accused of STealing --- Pelosi’s LapTop
Enter the Dumbest Administration on Earth
How Joe Biden Will Open The Floodgates To Transgendering Public Schools
CNN Pushes to Close Down Newsmax TV
tax and regulate
Supreme CourT Deals DemocraTs A Major DefeaT In Texas ... They JusT Ruled ---To RejecT Universal Mail-In BalloTing
EYEWITNESS' ACCOUNT DC
Biden’s party seeks to divide and destroy, not unite and heal
“If You Need All This To Protect Your Inauguration from the People, Maybe the F-ing People Didn’t F-ing Elect You!” – DC Worker Shows Video of Military Checkpoints in City (VIDEO)
How Soon Will the Social Security Trust Fund Be Depleted and How Should People Protect Their Retirement Income?
With These Figures, It's No Shock Why Republicans Got Swept by Democrats in Georgia
Domestic Terrorist?" - Leftist BLM Activist Who Stormed Capitol On Jan. 6 Arrested, Charged - John Earle Sullivan
The Republican Party Killed Itself
Australia to kill pigeon that crossed Pacific from Oregon
Could Joe Biden face impeachment?
Democrats Are Using The Recent Capitol Riot To Consolidate Power
Hold Twitter To Account
Europe on Brink of 'Major Financial Collapse'
Post Date: 2011-08-03 10:22:58 by jwpegler
Europe is a "train wreck" and on the "brink of a major financial crisis," Scott Minerd, CIO of the fixed-income firm Guggenheim Partners, told CNBC Tuesday. "The way Europe is operating right now, it's what I called recently 'cognitive dissonance,'" Minerd said, or "basically doing the same thing thinking they're going to get a different outcome." "They keep throwing more and more liquidity at it thinking it's going to get better and it's not," he added. Europe fails to recognize that it has a "structural problem, not a liquidity problem." People will "flee the euro" unless they find a way to ...
World stocks fall as growth, debt fears intensify
Post Date: 2011-08-03 08:25:13 by Happy Quanzaa
LONDON (Reuters) - World stocks fell toward five-month lows on Wednesday as worries grew that fiscal cutbacks and stagnating output would prolong a global economic slowdown and aggravate Europe's debt crisis. Wall Street, however, looked set to bounce back after steep losses in the previous session. Tuesday's last-minute budget deal to avoid a U.S. default brought only short-term relief as the focus moved to the impact of tighter fiscal policy on the already slowing economy, illustrated by poor manufacturing data this week. Weak services sector figures on Wednesday for the euro zone and China accentuated the fragile outlook. Disappointing results from European banks -- Societe ...
DC Pols: Let's Just Ignore the Markets, Maybe They'll Go Away
Post Date: 2011-08-03 08:11:31 by Happy Quanzaa
You might have thought this morning's financial headlines would be highlighting all the deep trouble we're in. After all, stock markets in Asia and Europe fell sharply today, following yesterday's blood-bath on Wall Street. Spreads on Italian debt are widening again. Nominal gold has reached an all time high, as desperate investors seek someplace other than sagging US $ assets to hide. The Swiss Central Bank has just slashed interest rates to zero, in an attempt to prevent the Sw Franc from becoming the world's key reserve currency, wiping out Swiss exporters. Japan's Central Bank is struggling with a yen that is still hovering around 77 to the $, the strongest ever, ...
Try as he might, Obama can't shake Bush tax cuts
Post Date: 2011-08-03 03:47:51 by socalv8
Time and again during his presidential campaign, Barack Obama was unequivocal: "We are going to roll back the Bush tax cuts for the wealthiest Americans." But when the chips were down, now-President Obama blinked and backed away. Twice in less than nine months, Obama has shelved his pledge in deadline-pressing negotiations with congressional Republicans. Obama insists he still is determined to find new revenue by making taxpayers who make more than $200,000 and big corporations pay more, but frustrated liberals say he has already missed key opportunities. Inaction on taxes and his willingness to consider structural changes to Medicare and Social Security, long-cherished ...
Next Fed Easing to Include Inflation Target: Gross
Post Date: 2011-08-02 20:09:46 by Sebastian
The Federal Reserve likely will launch its next round of quantitative easing later this month with language that will set a specific target for inflation, Pimco's Bill Gross told CNBC. With the economy faltering and stocks selling off aggressively, the central bank likely will have no choice but to announce more easingQE3, in market parlance. But the next round likely will look different than the first two, which focused on asset purchases such as Treasurysas was the case with QE2or an assortment of debt instruments, as with QE1. Gross said the Fed could announce QE3 at its Jackson Hole, Wyo., summit scheduled for late August. "We have a divided Fed so ...
US STOCKS-Massive rout spells trouble for Wall Street [Full Thread]
Post Date: 2011-08-02 19:51:18 by Hondo68
* S&P 500 turns negative for year * S&P closes below 200-day moving average * Global growth fears weigh on stocks * Dow off 2.2 pct, S&P off 2.6 pct, Nasdaq 2.8 pct * For up-to-the-minute market news see [STXNEWS/US] (Updates to close) NEW YORK, Aug 2 (Reuters) - The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turned their attention to the stalling economy. The broad-based index fell for a seventh day and crashed through the key 200-day moving average in an ominous sign for markets. The seven days of losses mark the longest losing streak since October 2008. "It is going to be a long week," said ...
10 signs the double-dip recession has begun~Many Americans believe '08-'09 downturn never ended
Post Date: 2011-08-01 12:49:24 by Happy Quanzaa
Friday's news on GDP shows the double dip has arrived an expansion of only 1.3 percent and consumer spending up 0.1 percent in the second quarter. Astonishingly low by any account. The debt ceiling trouble and lack of a longer term resolution to the deficit will make it worse. The U.S. has entered a second recession. It may not be as bad as the first. Economists say that the Great Recession began in December 2007 and lasted until July 2009. That may be the way that the economy was seen through the eyes of experts, but many Americans do not believe that the 2008-2009 downturn ever ended. A Gallup poll released in April found that 29 percent of those queried thought the economy ...
Coburn on ‘Back in Black’ (9 Trillion in cuts, 25% reduction in gov)
Post Date: 2011-08-01 12:08:17 by Hondo68
Sen. Tom Coburn, R-Okla., describes his plan to save $9 trillion in 10 years. Visit msnbc.com for breaking news, world news, and news about the economy Part II
Congressional Sources: Republicans and Democrats Reach Tentative Debt Deal
Post Date: 2011-07-31 05:12:28 by Murron
Congressional Sources: Republicans and Democrats Reach Tentative Debt Deal Democratic and Republican Congressional sources involved in the negotiations tell ABC News that a tentative agreement has been reached on the framework of a deal that would give the President a debt ceiling increase of up to $2.4 trillion and guarantee an equal amount of deficit reduction over the next 10 years. The details are still being worked out, and a senior White House aide tells ABC News, "talks continue but there is no deal to report." Congressional leaders plan to brief their members on the framework tomorrow. The reaction from both parties' rank-and-file will determine whether this ...
Moody's: Neither debt plan protects the nation's AAA rating
Post Date: 2011-07-30 20:03:45 by jwpegler
The "limited magnitude" of both debt plans put forward by congressional leaders would not put the nation's AAA credit rating back on solid footing, Moody's Investors Service announced Friday. "Reductions of the magnitude now being proposed, if adopted, would likely lead Moody's to adopt a negative outlook on the AAA rating," the credit rating agency said in a new report. "The chances of a significant improvement in the long-term credit profile of the government coming from deficit reductions of the magnitude proposed in either plan are not high." It added that "prolonged debt ceiling deliberations" have increased the odds of a downgrade, ...
If you think the debt crisis is bad now ...
Post Date: 2011-07-30 20:00:16 by jwpegler
There is a comforting story about the debt ceiling that goes like this: Back in the 1990s, the U.S. was shrinking its national debt at a rapid pace. Serious people actually worried about dislocations from having too little government debt. If it hadnt been for two wars, the tax cuts of 2001 and 2003, the housing meltdown, and the subsequent financial crisis and recession, the nations finances would be in fine condition today. And the only obstacle to getting there again, this narrative goes, is political dysfunction in Washington. If the Republicans and Democrats would just split their differences on spending and taxes and raise the debt ceiling, we could all get back to our ...
“Is Standard and Poor’s Manipulating US Debt Rating to Escape Liability for the Mortgage Crisis?”
Post Date: 2011-07-30 10:17:00 by lucysmom
Its not the default that strikes the most fear in the White House and Congress these days. Its the downgrade As Robert Reich notes, Standard and Poors is the biggest driver in the deficit battle. Why would anyone care what the corrupt and disgraced organizations who quite nearly brought down the world economy think about anything at this point? And yet, that is where elite opinion is focused right now: [W]hat really haunts the administration is the very real prospect, stoked two weeks ago by Standard & Poors, that Barack Obama could go down in history as the president who presided over his countrys loss of its gold-plated, triple-A bond rating.  ...
The no votes: 22 GOPers who balked Boehner
Post Date: 2011-07-29 19:24:34 by Happy Quanzaa
Speaker John Boehner pushed his debt-ceiling bill through the House Friday night with the support of 218 Republicans. Here are the 22 no votes: Justin Amash (Mich.) Michele Bachmann (Minn.) Chip Cravaack (Minn.) Jason Chaffetz (Utah) Scott Desjarlais (Tenn.) Tom Graves (Ga.) Tim Huelskamp (Kans.) Steve King (Iowa) Tim Johnson (Ill.) Tom McClintock (Calif.) Mick Mulvaney (S.C.) Ron Paul (Texas) Connie Mack (Fla.) Jim Jordan (Ohio) Tim Scott (S.C.) Paul Broun (Ga.) Tom Latham (Iowa) Jeff Duncan (S.C.) Trey Gowdy (S.C.) Steve Southerland (Fla.) Joe Walsh (Ill.) Joe Wilson (S.C.) CORRECTED: Rep. Tom Price (R-Ga.) voted YES on the Boehner bill. That was incorrect in the initial list. Rep. ...
Resuscitating America’s Manufacturing Base: Outsourcing and corporate lobbying efforts at fault
Post Date: 2011-07-29 14:30:11 by Godwinson
Resuscitating Americas Manufacturing Base: Outsourcing and corporate lobbying efforts at fault By Heide B. Malhotra Epoch Times Staff Reviving Americas manufacturing sector, once considered the bread and butter of the United States, is still on the back burner, as large corporations continue to outsource jobs to foreign shores. When the job market peaked in 2008 on the eve of the financial crisis, the manufacturing sector had already shed 5 million workers since the decade began, said John Bougearel, a market analyst and trader, in an article on the website, naked capitalism. About one-third of U.S. manufacturing jobs were lost through outsourcing between 2000 ...
John Boehner's Debt Ceiling Bill Stalls In House
Post Date: 2011-07-29 06:25:11 by Murron
John Boehner's Debt Ceiling Bill Stalls In House WASHINGTON -- A Republican plan that would have hiked the nation's debt ceiling for only six months and left the country's spending captive to a "Super Congress" failed to advance in the House Thursday night, with Democrats and Tea Party-backed Republicans opposing the plan. House Speaker John Boehner (R-Ohio) had initially scheduled a 6 p.m. vote on his measure which, in addition to raising the debt ceiling, would have cut $915 billion in spending and set up a 12-legislator commission to compel another $1.8 trillion in reductions over 10 years. The vote was then postponed to later Thursday night, but House Majority ...
A very secret agent [Full Thread]
Post Date: 2011-07-28 10:16:46 by lucysmom
There is a charade playing out in Washington at the moment in respect of the completely meaningless "debt ceiling" which the US maintains as a relic from the days of the gold standard. We are told that at the US Treasury's account at the Federal Reserve Bank there will soon be no more taxpayers' dollars, and therefore the Fed will soon be unable to make any more payments or issue any more cheques on behalf of the Treasury. The money has run out. This is nonsense. It is a myth, and moreover it is a myth that Federal Reserve chairman Ben Bernanke exploded in his recent testimony to a US congressional committee. Asia Times">Click for Full Text!
HuffPo-AOL Admits We’re in a Depression… Sorta
Post Date: 2011-07-26 23:24:50 by Hondo68
It takes a while for the Obama warm and fuzzy glow to wear off. Libs at HuffPo now a property of transnational behemoth AOL-Time Warner are actually beginning to come around... sorta.HuffPo-AOL wants you to tweet and tell them what the economic crisis is recession or depression? It looks like the creaky false right-left paradigm has broken down, at least in regard to the economy. Libs are turning away from the term Bush's recession and may be finally admitting that one man does not crash the economy.Well, that might be a bit too optimistic.Libs and government types are beginning to test the depression terminology waters. Paul Krugman calls it a ...
My Business Update
Post Date: 2011-07-25 19:34:15 by jwpegler
A few of us have talked about how computer professionals are starting to see more work lately. There is clearly pent-up demand for computer services now, regardless of the overall shape of the economy and looming "debt crisis". In the last week my tiny little company: Signed a big deal with one of the largest mobile handset manufacturers in the world. We are starting next Monday, and I have to be in Taiwan the week of Aug 15th. We have been invited to propose on a project for one of the most preeminent management consulting firms in the world. We don't have any background with them, so we'll see how it goes. It's just amazing that we somehow got on their vendor ...
Post Date: 2011-07-22 18:07:09 by jwpegler
Return of Mass Layoffs a Grim Sign for U.S. Workers
Post Date: 2011-07-22 13:42:27 by jwpegler
Putting pressure on an already lousy job market, the mass layoff is making a comeback. In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts. Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas. Meanwhile, state and local governments have cut 142,000 jobs this year, The WSJ reports, and Wall Street is braced for another round of cutbacks. This week, Goldman Sachs announced plans to let go 1000 fixed-income traders. If these trends continue, we may soon be talking about losses in the monthly employment data -- not just disappointing growth, says Howard ...
Is Bank of America At Risk of a Death Spiral?
Post Date: 2011-07-21 11:12:25 by lucysmom
Bloombergs Jonathan Weil took a look at Bank of Americas stock price, which is trading at less than half of the Charlotte banks book value, and discussed whether the bank is at risk of a serious crisis. If a levered financial firms stock trades at a severe discount from book value, it is not attractive to raise equity via selling shares (the dilutive impact on existing shareholders is punitive). Yet the steep discount is a sign that the market doubts the strength of the concerns equity base. If those worries persist, and the company is not able to shore up its balance sheet via earnings (ie, either its profits are impaired or they are offset by writeoffs), ...
Air Conditioning, Cable TV, and an Xbox: What is Poverty in the United States Today?
Post Date: 2011-07-20 12:31:54 by jwpegler
Each year for the past two decades, the U.S. Census Bureau has reported that over 30 million Americans were living in "poverty." In recent years, the Census has reported that one in seven Americans are poor. But what does it mean to be "poor" in America, ask Robert Rector, a senior research fellow, and Rachel Sheffield, a research assistant, at the Heritage Foundation. To the average American, the word "poverty" implies significant material deprivation, an inability to provide a family with adequate nutritious food, reasonable shelter and clothing. The actual living conditions of America's poor are far different from these images. - According to the ...
Under New Proposed Inflation Measure Seniors Would Lose $720 per Year in Social Security Payments
Post Date: 2011-07-19 03:17:11 by Murron
Under New Proposed Inflation Measure Seniors Would Lose $720 per Year in Social Security Payments As I have pointed out before, as part of the current deficit-reduction talks, White House officials and Congressional leaders on both sides of the aisle are advocating changes to the way inflation is calculated by using a method to measure inflation known as the "chained consumer price index." This method would likely result in a slower inflation adjustment rate payment on social security. So if you think the current CPI doesn't reflect price inflation accurately, just wait until the SS administration starts using a Congressionally approved 'chained consumer index". ...
A Brief History Of Obama's Fiscal Record (the burden of bad choices)
Post Date: 2011-07-17 10:09:02 by Hondo68
After working hard to compile a list of Obama's rather questionable record of fiscal promises and actual executions, the gist of which is represented best by the violent clash between myth and realty in Christina Romer's "The Job Impact of the American Recovery and Reinvestment Plan" whose epic failure is defined by one simple chart, we were disappointed to learn that Paul Ryan had already done this. And leaving Paul Ryan's politics aside, the facts do speak themselves. They speak even louder when one considers the din raised by the same president who back in 2006 said: "The fact that we are here today to debate raising Americas debt limit is a sign of ...
Confirmed: Federal Reserve Policy is Killing Lending, Employment and the Economy
Post Date: 2011-07-16 21:04:23 by Hondo68
I've previously documented numerous ways in which the Fed is working against its stated goals, such as:Reinforcing cyclical trends (when one of the Fed's main justifications is providing a counter-cyclical balance);Increasing unemployment (when the Fed is mandated by law to maximize employment); and Encouraging financial companies to make even riskier gambles in the future (when it is supposed to stabilize the financial system). And see this.And I've repeatedly pointed out that the Federal Reserve has been intentionally discouraged banks from lending to Main Street - in a misguided attempt to curb inflation - which has increased unemployment and stalled out the economy.As I ...
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