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Business/Economy (News/Activism)

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  • Holder Cut Left-Wing Groups In On $17 Bil BofA Deal

    08/28/2014 5:14:27 PM PDT · by blueyon · 4 replies
    Investors.com ^ | 8/27/14 | IBD Editorials ???
    Extortion: Radical Democrat activist groups stand to collect millions from Attorney General Eric Holder's record $17 billion deal to settle alleged mortgage abuse charges against Bank of America. Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nation's largest bank to create a massive slush fund for Democrat special interests.
  • Paul Krugman Accidently Got Something (Almost) Right

    08/28/2014 4:33:51 PM PDT · by Kaslin · 3 replies
    Townhall.com ^ | August 28, 2014 | Michael Schaus
    Full body shiver… I really loath the sentence I’m about to type. In fact, I hate it so much, I’ve retyped it almost a dozen times; and there is no better way of articulating the disturbing truth: Paul Krugman was right.Okay. I’ve showered. Also, I have slept on this thought. And yet, it’s still haunting me. The Left’s most adored “economist”, who has managed to turn being wrong into a career option, actually stumbled across a small kernel of truth in an otherwise typically inarticulate column. The King-of-Keynes managed to write a completely, and unavoidably, coherent thought last week. I...
  • On second try, California plastic bag ban passes Assembly

    08/28/2014 4:27:49 PM PDT · by Oldeconomybuyer · 13 replies
    Fresno Bee ^ | August 28, 2014 | BY JEREMY B. WHITE
    With a prominent grocery workers union back in support, the California Assembly voted on Thursday to impose a statewide ban on single-use plastic bags. Just days after the measure could not muster the 41 votes needing to pass, falling short at 38, it passed on a 44-29 vote. Seven Democrats who withheld votes on the previous attempt pivoted to vote aye. Lawmakers turned back Senate Bill 270 on Monday as the United Food and Commercial Workers Union withdrew crucial labor backing for the sweeping prohibition. Central to the unions reversal was a provision allowing grocery stores to offer paper or...
  • Inversion Controversy Is about Whether Company Profits Should Flow to Shareholders or Government

    08/28/2014 4:24:28 PM PDT · by Kaslin · 1 replies
    Townhall.com ^ | August 28, 2014 | Daniel J. Mitchell
    Since I’ve been in Washington for nearly three decades, I’m used to foolish demagoguery.But the left’s reaction to corporate inversions takes political rhetoric to a new level of dishonesty.Every study that looks at business taxation reaches the same conclusion, which is that America’s tax system is punitive and anti-competitive.Simply stated, the combination of a very high tax rate on corporate income along with a very punitive system of worldwide taxation makes it very difficult for an American-domiciled firm to compete overseas.Yet some politicians say companies are being “unpatriotic” for trying to protect themselves and even suggest that the tax burden...
  • Census figures show more than one-third of Americans receiving welfare benefits

    08/28/2014 4:00:52 PM PDT · by Oldeconomybuyer · 9 replies
    FOX News ^ | August 28, 2014 | By Mike Emanuel
    Fifty years after the war on poverty was first waged, there are signs a new offensive is needed. Newly released Census data reveals nearly 110 million Americans more than one-third of the country are receiving government assistance of some kind. The number counts people receiving what are known as means-tested federal benefits, or subsidies based on income. This includes welfare programs ranging from food stamps to subsidized housing to the program most commonly referred to as welfare, Temporary Assistance for Needy Families. At the end of 2012, according to the stats, 51.5 million were on food stamps, while...
  • IMF Chief Under Investigation in French Fraud Case

    08/28/2014 4:00:43 PM PDT · by Kaslin · 1 replies
    Townhall.com ^ | August 28, 2014 | Mike Shedlock
    IMF chief Christine Lagarde Under Formal Investigation in French fraud case. IMF chief Christine Lagarde has been put under formal investigation by French magistrates for alleged negligence in a political fraud affair dating from 2008 when she was finance minister. Lagarde was questioned by magistrates in Paris this week for a fourth time under her existing status as a witness in the long-running saga over allegations that tycoon Bernard Tapie won a large arbitration payout due to his political connections. Under French law, magistrates place a person under formal investigation when they believe there are indications of wrongdoing, but that...
  • Simple Solution To Corporate Inversions: Cut Tax Rates

    08/28/2014 3:59:52 PM PDT · by jazusamo · 6 replies
    Investors.com ^ | August 28, 2014 | Charles Krauthammer
    The Obama administration is highly exercised about "inversion," the practice by which an American corporation acquires a foreign company and moves its headquarters out of the U.S. to benefit from lower tax rates abroad. Not fair, says Barack Obama. It's taking advantage of an "unpatriotic tax loophole" that hardworking American families have to make up for by the sweat of their brow. His treasury secretary calls such behavior a violation of "economic patriotism." Nice touch. Democrats used to wax indignant about having one's patriotism questioned. Now they throw around the charge with abandon, tossing it at corporations that refuse to...
  • Prospect of Another DC Shutdown Looms Over Immigration Showdown

    08/28/2014 3:25:44 PM PDT · by Oldeconomybuyer · 24 replies
    ABC News ^ | August 28, 2014 | By ARLETTE SAENZ
    The prospect of another economically and politically crippling government shutdown looms over President Obamas talk of taking executive action on immigration next month and Republican threats to thwart him by blocking certain funding measures. Rep. Steve King, R-Iowa, told the Des Moines Register all bets are off for passing a continuing resolution if President Obama decides to take executive action on immigration. If the president wields his pen and commits that unconstitutional act to legalize millions, I think that becomes something that is nearly political nuclear, King said. I think the public would be mobilized and galvanized and that changes...
  • Study: Same-sex marriages would add $80M to Georgia economy

    08/28/2014 3:23:24 PM PDT · by madprof98 · 23 replies
    Atlanta Journal-Constitution ^ | 8/28/14 | Dan Chapman
    Allowing same-sex marriage in Georgia would pump nearly $80 million into the states economy, according to a study released Thursday by the UCLA school of law. The U.S. Census Bureau reports that 21,318 same-sex couples live in Georgia. Half would choose to marry within three years, the law schools Williams Institute estimates, based on similar patterns in Massachusetts and other states where same-sex marriage is legal. Highlights of the study include: - Spending on wedding arrangements by the couples, and their out-of-town guests, would add $78.8 million to the state and local economies over three years.
  • Americas coal heartland is in economic freefall but only the most desperate are fleeing

    08/28/2014 11:46:12 AM PDT · by Brad from Tennessee · 34 replies
    Washington Post ^ | August 28, 2014 | By Chico Harlan
    LOGAN, W.Va. For 51 years hed lived in the same hollow and for two decades hed performed the same job, mining coal from the underground seams of southern West Virginia. Then, on June 30, Michael Estep was jobless. His mine shut down, and its operator said market conditions made coal production unviable. What has come since, for Estep, stands as the new Central Appalachian economic experience: a job-hunt in a region whose sustaining industry is in an unprecedented freefall. I dont know what to do, Estep said as unpaid bills piled up, his cable cut to black, and his...
  • Dem Rep: Obama Must Go Forward on Amnesty to Quell Latino Racial Unrest

    08/28/2014 11:50:52 AM PDT · by afraidfortherepublic · 38 replies
    Breitbart TV ^ | 8-28-14
    Thursday on MSNBC's "Jos Daz-Balart," Rep. Raul Grijalva (D-AZ) said President Barack Obama should use an executive order and grant amnesty to an estimated 5 million illegal immigrants already living in the United States because it will "quell some of the unrest" caused by "racial overtones" of anti immigration rhetoric. He said, "Latinos that are fourth, fifth generation -- they see this as a civil rights issue." Grijalva said Obama's amnesty, "Will quell some of the unrest that we are seeing in our communities and the racial overtones that continue to build around this issue." He explained, "The issue of...
  • Judicial Watch Files Lawsuit against University of CA to End Tuition Grants for Illegal Aliens

    08/28/2014 11:36:37 AM PDT · by afraidfortherepublic · 8 replies
    Suit charges that both federal and state law prohibit UC system from using tax dollars to provide discounted in-state tuition benefits and financial aid to illegal aliens (Washington, DC) Judicial Watch announced today that on August 26 2014, it filed a lawsuit in the Superior Court for the State of California, Los Angeles County, seeking an end to an estimated annual $19.6 million in non-resident tuition waivers currently being given to illegal alien students by the University of California (UC) Regents (Earl De Vries v. Regents of the University of California (No. 555614)). The suit also seeks an end...
  • Stagnation: CBO Revises 2014 GDP Growth Projection Down to 1.5 Percent

    08/28/2014 10:47:15 AM PDT · by Hotlanta Mike · 17 replies
    Townhall.com ^ | Aug 28, 2014 | Guy Benson
    When the economy shrinks substantially over the course of an economic quarter, tepid recoveries tend to look, well, tepid. The nonpartisan Congressional Budget Office has slashed its predictions for US economic growth in 2014: The Congressional Budget Office on Wednesday forecast that the U.S. economy will grow by just 1.5 percent in 2014, undermined by a poor performance during the first three months of the year. The new assessment was considerably more pessimistic than the Obama administration's, which predicted last month that the economy would expand by 2.6 percent this year even though it contracted by an annual rate of...
  • The attack on bad teacher tenure laws is actually an attack on black professionals

    08/28/2014 10:37:14 AM PDT · by Cincinatus' Wife · 72 replies
    Washington Post ^ | August 28, 2014 | Dr. Andre Perry is the founding dean of urban education at Davenport University
    After the Vergara v. California decision in Californias state Supreme Court, which held that key job protections for teachers are unconstitutional, anti-union advocates everywhere began spawning copycat lawsuits. But while reformers may genuinely want to fix education for everyone, their efforts will only worsen diversity in the teaching corps. The truth is that an attack on bad teacher tenure laws (and ineffective teachers in general) is actually an attack on black professionals. If the Vergara clones succeed, black children will lose effective teachers and the black community will lose even more middle-class jobs. Black workers are most likely to hold...
  • RNC to spend $100m to get out vote

    08/28/2014 10:15:28 AM PDT · by afraidfortherepublic · 57 replies
    The Washington Examiner ^ | 8-28-14 | David M. Drucker
    The Republican National Committee is on track to spend more than $100 million in the midterm campaign, with virtually every dime plowed into the partys new digital voter-turnout program. If the program is effective, Republican campaigns will have access to a modern get-out-the-vote operation that has been the hallmark of the Democrats success in recent election cycles. But if it fails to deliver as advertised, Republican candidates will be stuck with another subpar voter turnout program and without the resources the GOP traditionally sent to their campaigns in midterm years. The RNC is set this week to announce the deployment...
  • Scientists find secret of reversing bad memories

    08/28/2014 10:14:21 AM PDT · by Red Badger · 54 replies
    www.telegraph.co.uk ^ | 6:00PM BST 27 Aug 2014 | By Sarah Knapton, Science Correspondent
    Bad memories could be reversed after scientists discovered the part of the brain which links emotions to past events Bad memories of past trauma can leave people emotionally scarred for life. But now neuroscientists believe they can erase feelings of fear or anxiety attached to stressful events, in a breakthrough which could help treat depression or post-traumatic stress disorder. Researchers at MIT, US, have discovered which brain circuits attach emotions to memories, and crucially, how to reverse the link. They managed to switch off feelings of fear in mice which had been conditioned to feel anxious. It is likely the...
  • Theyre Not Americans

    08/28/2014 9:54:51 AM PDT · by afraidfortherepublic · 23 replies
    PJ Media ^ | 8-28-14 | Michael Walsh
    Minnesotans? Or Britons. Or Norwegians. Call them what they call themselves: Muslim members of the ummah: As many as 15 Somali-American men have left their homes in Minnesota in recent months to travel to the Middle East and join up with ISIS, the jihadist army at war with Syria and Iraq, according to Minnesota Public Radio. The fighters appear to have made the decision to go fight with Islamic State of Iraq and Syria/Levant while the terror group was fighting to overthrow Syrian dictator Bashar al-Assad, but some may now be in Iraq, where the marauding group is seeking to...
  • Holder cuts left in on $17 billion Bank of America settlement

    08/28/2014 9:42:53 AM PDT · by afraidfortherepublic · 29 replies
    Powerline ^ | 8-28-14
    Radical Democrat activist groups stand to collect millions from Attorney General Eric Holders record $17 billion deal to settle alleged mortgage abuse charges against Bank of America, Investors Business Daily reports: Buried in the fine print of the deal, which includes $7 billion in soft-dollar consumer relief, are a raft of political payoffs to Obama constituency groups. In effect, the government has ordered the nations largest bank to create a massive slush fund for Democrat special interests. The deal requires billions of dollars in debt forgiveness payments to delinquent borrowers. It also requires Bank of America to make billions in...
  • Obamas use of executive authority is about to become a real political issue

    08/28/2014 9:33:40 AM PDT · by afraidfortherepublic · 25 replies
    The Washington Post ^ | 8-28-14 | Aaron Blake
    President Obama is weighing a big-time executive action on immigration that has both Democrats and Republicans anxious. He's also pursuing a major international climate-change agreement without ratification by Congress. And it's not yet clear whether the White House will seek congressional authorization for military action in Syria that appears increasingly likely. Yes, we are finally entering into what could be a very big debate about executive authority -- and with the 2014 election just weeks away. ThIS (sic) debate was supposed to happen when House Republicans sued Obama over his having delayed a portion of Obamacare unilaterally. But if he...
  • Russia Economy in Trouble, Official Says

    08/28/2014 9:32:03 AM PDT · by Tau Food · 20 replies
    Forbes ^ | August 25, 2014 | Kenneth Rapoza
    Not too long ago, top officials within the Russian government said Western sanctions were not going to hurt. A couple of months later, reality has settled in. Russias Economic Development Minister, Alexei Ulyukayev, said the economy had many obstacles and entered a negative growth cycle. In an op-ed published in the Vedomosti newspaper Monday, Ulyukayev wrote, It could be said that we have entered a negative stage of the economic cycle. Lack of demand is a significant obstacle on the way to restoring steady growth. Sanctions are not helping matters.
  • Should Union Organizing Be A Civil Right?

    08/28/2014 9:31:40 AM PDT · by reaganaut1 · 20 replies
    Forbes ^ | August 28, 2014 | George Leef
    [T]he NLRA sometimes comes in for criticism from leftists, who argue that it doesnt do enough to tilt the playing field in favor of unions and collective bargaining. The common complaint is that although the NLRA does make it illegal for employers to discriminate against workers because of union advocacy, the legal processes under that statute are too slow and weak to deter employers from telling workers, I dont want to deal with a union and if I find you agitating for one, youll be fired. To remedy that purported defect in the law, Representatives Keith Ellison (D-MN) and John...
  • Weekly Jobless Claims Fall for Second Consecutive Week to 298,000

    08/28/2014 8:33:10 AM PDT · by SeekAndFind · 13 replies
    AOL Jobs ^ | 08/28/2014 | Lucia Mutikani
    The number of Americans filing new claims for unemployment benefits fell for a second straight week last week, underscoring the strengthening labor market fundamentals. Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 298,000 for the week ended Aug. 23, the Labor Department said Thursday. Claims for the prior week were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims climbing to 300,000 last week. A Labor Department analyst said there were no special factors influencing the state level data. The four-week average of claims, considered a better measure...
  • U.S. GDP Grew 4.2% In The Second Quarter 2014, Up From Prior Estimate

    08/28/2014 8:30:21 AM PDT · by SeekAndFind · 31 replies
    Forbes ^ | 08/28/2014
    On Thursday, the Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter of 2014 covering April, May and June of this year. The release showed output in the U.S. increasing at an annual rate of 4.2%. This is relative to the first quarter when real GDP declined a sharp 2.1%. The revision is up marginally from BEAs 4% advance estimate released last month. The revision, BEA said in a release, was largely due to a larger than previously estimated increase in nonresidential fixed investment. However, the increase in private inventory investment...
  • Beware Americas ruthless burger monarch

    08/28/2014 8:30:14 AM PDT · by Squawk 8888 · 37 replies
    National Post ^ | August 28, 2014 | National Post Editorial Board
    Oh, he smiles nice for his royal retinue. But remember that the Burger King like any absolute monarch cares not a whit for the common people, especially if they are Canadian. The Burger Kings expansionist desires have been clear for many years. But with the brazen annexation of an iconic Canadian restaurant chain this week, the time for appeasement is over. In interviews with the Financial Post, the Burger Kings minions assured Tim Hortons customers that their coffee-and-crullers experience would remain untouched. Words in the wind. We recall hearing similar soothing noises from the last quick-service imperialist to...
  • McConnell says he wouldnt allow a government shutdown

    08/28/2014 8:03:02 AM PDT · by Oldeconomybuyer · 55 replies
    Market Watch ^ | August 28, 2014
    Read his lips: No shutdown. Pushing back against a report to the contrary, Senate Minority Leader Mitch McConnell says he wont let the government shut down if he becomes the chambers majority leader next year. Of course not, the Kentucky Republican told CNN in an interview. Remember me? I am the guy that gets us out of shutdowns, he said. Government shutdowns like last Octobers are a failed policy, McConnell added.
  • Don't look now but Obamacare troubles are starting again

    08/28/2014 7:33:05 AM PDT · by afraidfortherepublic · 14 replies
    The American Thinker ^ | 8-28-14 | Silvio Canto
    We've been focusing a lot on President Obama's foreign policy, from Ukraine to Libya to Syria to Iraq to Israel and Iran. However, get ready for ObamaCare to make a return engagement to our front pages, and politics as well. Sally Pipes posted some numbers yesterday that won't make Democrats happy, especially those in tight elections: "Get ready to pay more for health insurance next year, compliments of Obamacare. A new analysis from PricewaterhouseCoopers projects that average premiums for policies sold through Obamacares exchanges will increase 7.5 percent in 2015. In nearly one-third of the 29 states that PwC investigated,...
  • Female CEO Tries to Create Feminist Ad Campaign, Gets Slammed for Misogyny

    08/28/2014 7:23:35 AM PDT · by GulliverSwift · 29 replies
    National Review ^ | Katherine Timpf
    A feminist CEO attempted to create a feminist advertising campaign only to have other feminists slam her for misogyny. Julie Sygiel, founder and CEO of the underwear company Dear Kate, invited top women in the technology field to model her newest line, named the Ada Collection after the worlds first female programmer, Ada Lovelace. Sygiels advertisements included quotes from the women about their careers in the tech industry and showed them at work coding. I think a lot of traditional lingerie photo shoots depict women as simply standing there looking sexy, Sygiel said in an interview with Time. Theyre not...
  • Sheboygan Press: money, talk radio to blame for Leibhams GOP primary loss

    08/28/2014 7:23:00 AM PDT · by afraidfortherepublic · 3 replies
    Wisconsin Election Watch ^ | 8-28-14 | Kyle Maichle
    On Tuesday, the Sheboygan Press reported that according to two veteran GOP consultants that talk radio and campaign cash were to blame for State Senator Joe Leibhams narrow defeat in the 6th Congressional District Republican primary. Jason Smathers, the author of the article, said: But with two other state legislators running to his right, those advantages disappeared. Leibham played defense most of the race. He was blasted in attack ads and press releases and lost to his main opponents in all but two counties Manitowoc and his home of Sheboygan. Smathers interviewed veteran GOP consultant Mark Graul of Arena...
  • Warren Buffett Betrays America

    08/28/2014 6:29:59 AM PDT · by Servant of the Cross · 37 replies
    Politico Magazine ^ | 8/27/2014 | Rich Lowry
    It must have been a bitter moment for President Barack Obama when he got the news that his favorite economic guru not only doesnt like paying taxes but hates America. Warren Buffett, whose eponymous rule was a staple of Obamas 2012 reelection campaign, is underwriting Burger Kings proposed move to Canada that the left is denouncing as practically the most dastardly plot since the Rosenbergs helped the Soviets get the atomic bomb. Burger King is acquiring the Canadian coffee and doughnuts chain Tim Hortons in what is called a corporate inversion. At least thats the technical term for it. Obama...
  • SunTrust to shutter Orlando fraud unit, lay off 105

    08/28/2014 5:49:19 AM PDT · by 2ndDivisionVet · 5 replies
    The Orlando Sentinel ^ | August 27, 2014 | Richard Burnett
    SunTrust Banks Inc. is shuttering its fraud-response call center group in Orlando and shedding more than 100 jobs, the bank confirmed Wednesday. Atlanta-based SunTrust, the largest bank in Central Florida, handed out pink slips to 105 employees on Tuesday. The effective layoff date is Oct. 31, according to documents filed with the Florida Department of Economic Opportunity. "Difficult decisions must be made to increase operational efficiencies and decrease expenses to better position the company for the future," SunTrust told employees in the layoff notice. The bank posted a $400 million profit on revenue of $2.2 billion in the second quarter,...
  • Anti-stress law moves step closer in Germany

    08/28/2014 12:23:00 AM PDT · by Olog-hai · 20 replies
    TheLocal.de ^ | 26 Aug 2014 14:47 CET
    Germanys Labor Minister Andrea Nahles has given her backing to an anti-stress law, announcing a study into workers mental health on Tuesday. Nahles told the Rheinische Post newspaper that she had commissioned the Federal Institute for Health and Safety at Work to come up with a report on the feasibility of a possible law to protect workers from stress caused by smartphones and constant contact with their bosses. There is an undeniable link between having to be constantly available [for work] and the rise in mental illnesses, she said, but she added it would be a challenge to implement any...
  • Gun tourism grows in popularity in recent years

    08/27/2014 11:53:46 PM PDT · by Olog-hai · 7 replies
    Associated Press ^ | Aug 28, 2014 1:22 AM EDT | Michelle Rindels and Jacques Billeaud
    With gun laws keeping high-powered weapons out of reach for most peopleespecially those outside the U.S.indoor shooting ranges with high-powered weapons have become a popular attraction. Tourists from Japan flock to ranges in Waikiki, Hawaii, and the dozen or so that have cropped up in Las Vegas offer bullet-riddled bachelor parties and literal shotgun weddings, where newly married couples can fire submachine gun rounds and pose with Uzis and ammo belts. People just want to experience things they cant experience elsewhere, said Genghis Cohen, owner of Machine Guns Vegas. Theres not an action movie in the past 30 years without...
  • Ben Stein: CNN Has 'Flipped Out in a Leftward Direction'

    08/27/2014 5:21:08 PM PDT · by 2ndDivisionVet · 42 replies
    NewsMax ^ | August 26, 2014 | Bill Hoffmann
    CNN has been transformed from a sober and respected news network into a shrill and biased mouthpiece for liberals, according to actor, author and economist Ben Stein. Stein, a speechwriter for Presidents Richard Nixon and Gerald Ford, said the dramatic change is particularly noticeable in CNN's coverage of the racial strife in Ferguson, Mo., following the fatal shooting of a black teen by a white police officer. "They've flipped out. I don't know what happened to CNN because CNN used to really be great and I can remember when it was great," Stein said Tuesday on "The Steve Malzberg Show"...
  • Two experts warn correction could total 60%

    08/27/2014 5:07:06 PM PDT · by SkyPilot · 79 replies
    CNBC ^ | 27 Aug 14 | Matthew J. Belvedere and Everett Rosenfeld
    <p>Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.</p> <p>A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."</p>
  • St. Louis County Seeks FEDERAL BAILOUT for More Than 100 BUSINESSES Harmed During #Ferguson Riots

    08/27/2014 4:09:28 PM PDT · by 2ndDivisionVet · 35 replies
    Gateway Pundit ^ | August 27, 2014 | Jim Hoft
    On Saturday August 9, 2014, 18 year-old Michael Brown was shot to death by a Ferguson police officer after he had earlier robbed a local convenience store. As a result of his death protesters in Ferguson have caused mass destruction in the community. Several dozen businesses were damaged in the looting and violence. Here is an interactive map of the attacks, shootings, lootings, and destruction. Many of the local businesses were looted not just once, but twice. Now this St. Louis County officials are discussing disbursement of federal aid to the more than 100 businesses that suffered financial losses during...
  • Chinese-made U.S. military coins should be outlawed, Stilp says

    08/27/2014 3:18:52 PM PDT · by george76 · 17 replies
    PennLive ^ | August 26, 2014 | Jan Murphy
    Learning that U.S. Navy commissioning coins were made in China is more than Middle Paxton Twp. resident Gene Stilp can tolerate. The citizen activist doesn't like seeing the "Made in China" label on any product, knowing it signals the continued erosion of America's manufacturing base. But having the United States military buying Chinese-made commemorative coins is an insult to those who wear its uniforms, he said. On Monday, Stilp asked U.S. Sen. Bob Casey, D-Pa., to push for a federal law barring any branch of the military from buying collectible coins minted outside the nation's borders. The Democratic state House...
  • Central California residents rely on bottled water as wells run dry

    08/27/2014 3:11:09 PM PDT · by afraidfortherepublic · 21 replies
    LA Times ^ | 8-27-14 | Veronica Rocha
    Extreme drought conditions have become so harsh for the Central Valley community of East Porterville, many of its residents dependent on their own wells have run out of water.. Roughly 300 homes have received a three-week supply of bottled water after Tulare County officials discovered their wells had gone dry. In all, county officials distributed 15,552 1-gallon bottles of water, and have been filling a 2,500-gallon tank with nonpotable water so residents can flush toilets and bathe.
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • Bernankes humble brag: 2008 crisis worse than Great Depression

    08/27/2014 1:07:06 PM PDT · by RckyRaCoCo · 28 replies
    Yahoo Finance ^ | 08/27/2014 | Yahoo Finance
    The world finally knows how former Federal Reserve Chairman Ben Bernanke views the 2008 financial crisis. September and October of 2008 was the worst financial crisis in global history, including the Great Depression, said Bernanke in a document filed Aug. 22 with the U.S. Court of Federal Claims, reports The Wall Street Journal. Of the 13 most important financial institutions in the United States, 12 were at risk of failure within a period of a week or two.
  • Rochester(Mn) Police Investigating 2 Armed Robberies Behind Mayo Civic Center(tackled by up to six)

    08/27/2014 12:13:45 PM PDT · by Son House · 7 replies
    KTTC.com ^ | Aug 27, 2014 | KTTC TV
    Lt. Mike Sadauskis said officers were called to the pavilion area of Mayo Park about 9:30 p.m. Tuesday after a 28-year-old Rochester man had been tackled by up to six other men. The man told police one of the men had a gun and held it to his head. Sadauskis said the men assaulted the man and he gave up his backpack and personal items. The man didn't require treatment. On Monday night, Sadauskis said a 16-year-old boy was attacked in the same area while on his skateboard. Both victims gave a similar description of the gunman. Sadauskis said the...
  • Why Britain is poorer than any US state, other than Mississippi

    08/27/2014 11:48:58 AM PDT · by Red Badger · 58 replies
    spectator.co.uk ^ | 22 August 2014 10:41 | By Fraser Nelson
    Now and again, America puts its inequality on display to the world. We saw it after Hurricane Katrina and we have seen it again in the unrest in Ferguson, Missouri. A white police offer shoots dead a black man, after having stopped him for jaywalking. Britains police dont have guns, so these scenes are unthinkable to us. But American-style inequality? We have plenty of that too, were just better at hiding it as I say in my Telegraph column today. I came across a striking fact while researching this piece: if Britain were to somehow leave the EU and...
  • Forecast: cheapest Labor Day gasoline since 2010

    08/27/2014 10:08:02 AM PDT · by thackney · 44 replies
    Fuel Fix ^ | August 27, 2014 | Ryan Holeywell
    Drivers hitting the roads during the upcoming holiday weekend will likely encounter good news: the cheapest Labor Day weekend gasoline prices since 2010. The forecast comes amid falling domestic and global crude prices, analysts at GasBuddy said. The benchmark price for U.S. crude is down nearly $9 per barrel since the Memorial Day weekend, and the the international price is down $7 in the same period. A downward trend in gasoline prices began in July and will likely continue through autumn, the gasoline price monitors said. Interestingly, the downward trend in crude comes despite several global conflicts in and around...
  • National debt has doubled since financial crisis: Congressional Budget Office

    08/27/2014 9:24:30 AM PDT · by SeekAndFind · 11 replies
    Washington Examiner ^ | 08/27/2014 | BY JOSEPH LAWLER
    The federal debt this year will be double what it was before the financial crisis, Congress official budget scorekeeper projected Wednesday morning. The debt is on pace to reach 74 percent of the countrys economic output by the end of the year, double what it was in 2007 and the highest percentage since 1950, according to the Congressional Budget Office. In its update to its projections for the budget and economy, the agency slightly upped its estimate for the 2014 deficit, which it now expects to total $506 billion, a $170 billion decline from 2013. The federal debt this year...
  • Obamas new power grab: A climate change treaty without Senate ratification

    08/27/2014 9:16:09 AM PDT · by afraidfortherepublic · 15 replies
    Hot Air ^ | 8-27-14 | Allahpundit
    Its not a new treaty, apparently, if theyre rewriting an old treaty thats already been ratified. Maybe thats a sneak peek of Obamas Syria policy too. Instead of asking for a new AUMF against ISIS, he could issue an addendum or whatever to the 2001 AUMF against Al Qaeda. Come to think of it, thats his approach on immigration too. The mega-amnesty hes getting ready to uncork isnt being presented as new policy, even though it would legalize five million people or more. Its being presented as a discretionary application of law thats already on the books. Turns out every...
  • David Pennington: Republicans are Georgias problem

    08/27/2014 9:07:53 AM PDT · by GrootheWanderer · 19 replies
    The Daily Citizen (Dalton, Georgia) ^ | August 27,2014 | David Pennington
    Recently, a friend lamented that the liberal left is destroying America, but I disagreed. The left is consistent and transparent in its belief that big government, higher taxes and more regulation serve the greater good. The right espouses a limited government platform of lower taxes, less spending and less regulation, which frees capital resulting in innovation and job creation. But do Georgia Republicans practice what they preach Georgias fiscal year 2014 results illustrate the reality vs. the rhetoric. Our revenue jumped $879 million over fiscal year 2013; but $473 million of this increase resulted from the new way cars are...
  • Buffett puts shareholders ahead of patriotism in Canadian deal

    08/27/2014 8:50:09 AM PDT · by Olog-hai · 34 replies
    Reuters ^ | Tue Aug 26, 2014 7:16pm EDT | Luciana Lopez
    Warren Buffett may be most famous for the billions of dollars he has made from investing, but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, the mother lode of opportunity, as he wrote in his annual letter this year. So Buffetts participation in fast-food chain Burger King Worldwide Inc.s purchase of coffee and doughnut chain Tim Hortons Inc.complete with relocation of Burger Kings domicile to Canadamight at first blush raise questions about his patriotism. Investors and tax experts say Miami-based Burger Kings move...
  • Saudi Foreign Minister: Time for Islamic World to Recognize Israel

    08/27/2014 8:48:07 AM PDT · by afraidfortherepublic · 36 replies
    Breitbart Big Peace ^ | 8-27-14 | Jordan Schachtel
    Saudi Arabias Foreign Minister said that now is the time to recognize Israel as a legitimate entity in the Middle East, stressing that the Palestinian arm of the Muslim Brotherhood, terror group Hamas, is responsible for fanning the flames of war between Israelis and Palestinians. Speaking at the world assembly of Islamic scholars in Jeddah, Saudi Arabia, Saud bin Faisal Al Saud reiterated that the Arab world must also reject Hamas as the representatives of the Palestinian movement, AWDnews reports. Saudi media has consistently been against Hamas in the ongoing conflict between Israel and Hamas, according to the Middle East...
  • Destroying Privacy News: DOT Proposes Mandating Cars Broadcast Location, Direction and Speed

    08/27/2014 8:34:49 AM PDT · by theBuckwheat · 33 replies
    cnsnews.com ^ | August 27, 2014 | Terence P. Jeffrey
    The National Highway Traffic Safety Administration, part of the Department of Transportation, published last week an "advanced notice of proposed rulemaking" on "vehicle-to-vehicle communications." What NHTSA is proposing could begin a transformation in the American transportation system that makes our lives better and freer or gives government more power over where we go and when.
  • The NRSC's Remarkable Immigration Statement

    08/27/2014 8:21:14 AM PDT · by afraidfortherepublic · 12 replies
    Breitbart Big Government ^ | 8-26-14 | Jonathon Strong
    Capitol Hill insiders widely consider President Obama's rumored plan to unilaterally extend amnesty to as many as five million of illegal aliens to be political suicide, essentially ceding control of the Senate in a single act. But a key question has been whether elite Republicans are willing to deploy the issue in weaponized form. A statement from Brad Dayspring, spokesman for the National Republican Senatorial Committee, suggests the answer is yes. Executive amnesty would not only subvert the law, but depress wages, and hurt the poorest Americans most of all including legal immigrants looking to rise into the middle...
  • IMF chief Lagarde under investigation in France

    08/27/2014 8:03:12 AM PDT · by Olog-hai · 10 replies
    Associated Press ^ | Aug 27, 2014 10:13 AM EDT | Lori Hinnant
    Christine Lagarde, the chief of the International Monetary Fund, was placed under official investigation for negligence in a French corruption probe that dates back to her days as Frances finance minister. In a statement Wednesday after a fourth round of questioning before magistrates, Lagarde said she would return to her work in Washington later in the day and said the decision was without basis. She is the third IMF managing director in a decade to face legal troubles.