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Business/Economy (News/Activism)

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  • French and Greek elections 'have overthrown Angela Merkel as dominant force'

    05/07/2012 4:58:49 PM PDT · by Olog-hai · 32 replies
    Daily Telegraph (UK) ^ | 3:53PM BST 07 May 2012 | Our Foreign Staff
    French and Greek elections have overthrown Angela Merkel, the German chancellor, as the dominant force in European politics, newspapers in Germany have concluded. "The hour of the extremists," warned Handelsblatt, Germany's financial newspaper, predicting that the defeat of pro-EU austerity parties in Greek elections will bring "an unparalleled political upheaval". … In an editorial, the newspaper warned that Greece could bring "political chaos" to Europe. … Writing about their French neighbors, Süddeutsche Zeitung says: "Goodbye election campaign—bonjour reality." … Die Welt sees the French and Greek vote as interlinked, spelling "the rejection of Merkel's system in Europe". In an editorial,...
  • Germany says renegotiating EU pact “not possible”

    05/07/2012 4:35:06 PM PDT · by Olog-hai · 20 replies
    Yahoo News ^ | 05/07/2012 | (AFP)
    The German government on Monday ruled out reworking the European Union's fiscal pact despite calls to do so by French president-elect François Hollande. "It is not possible to renegotiate the fiscal pact," government spokesman Steffen Seibert told a regular news conference. He noted that 25 of the 27 EU member states had already signed the accord imposing strict budgetary discipline in March after major wrangling. Hollande has called for a shift in strategy toward more growth-oriented measures including more public spending. But Seibert said Merkel would not accept "deficit spending" to feed economic expansion, and believed in "growth through structural...
  • Letter: New Storm Legislation Brings a Warning

    05/07/2012 4:13:59 PM PDT · by matt04 · 9 replies
    The Daily Wilton ^ | Rep. Gail Lavielle (R-Wilton CT)
    Last fall’s monumental storms affected almost everyone in Connecticut. People were inconvenienced, impatient, and angry. The ill, elderly, and disabled were exposed to significant risks. We were shocked at how long it took to restore service, and how hard it was to get answers. First responders and town organizations rose to the occasion, but they were stretched to their limits. Schools were closed for days on end. The situation got old very fast. No one wanted to go through the same thing again, ever. Not surprisingly, there was an initial clamor for action. Several of us called for public hearings,...
  • Athens (Greece) tops office space availability chart

    05/07/2012 3:37:36 PM PDT · by dynachrome · 9 replies
    Ekathimerini ^ | 5-7-12 | Nikos Roussanoglou
    Athens has the highest rate of empty office space in Europe, according to data for the year’s first quarter presented by BNP Paribas Real Estate. Its report on the course of the European office market showed that the availability rate in the Greek capital soared to 20 percent in the January-March period from 15.5 percent in the same period last year.
  • College: 'Best Investment' or Big Risk? (The financial return for a 4-year degree may surprise you)

    05/07/2012 2:35:03 PM PDT · by SeekAndFind · 59 replies
    Smart Money ^ | 05/07/2012 | Jack Hough
    By College is the best investment you can make, President Obama told students last month at the University of Colorado. As a metaphor for the benefits of education, that statement is fine. But taken as a claim about the financial returns of a college degree, it poses two problems. The first is that students and their families still lack sufficient data to estimate long-term returns for specific college degrees the way investors do with stocks and bonds. The second problem is one of investment risk. Stock investors can manage risk by buying a diverse basket of shares, but a...
  • Show Me the ‘Savage’ Spending Cuts in Europe, Please (Austerity? what austerity?)

    05/07/2012 2:26:10 PM PDT · by SeekAndFind · 12 replies
    National Review ^ | 05/07/2012 | By Veronique de Rugy
    Austerity is destroying Europe, we are told. In fact, this “anti-austerity” slogan was a big reason for the victory of newly elected socialist François Hollande to the presidency of France. Interviewed in The Economist a few weeks ago, Hollande’s campaign director said “We are not disciples of savage spending cuts.”But then, I look at the data and I am asking: What “savage” spending cuts?Look at this chart. It is based on Eurostat data which you can find here. Following years of large spending increases, Spain, the United Kingdom, France, and Greece — countries widely cited for adopting austerity measures...
  • Investigating the IRS: Why it gives billions to illegal immigrants (Tax loophole cost billions)

    05/07/2012 2:02:08 PM PDT · by DogByte6RER · 11 replies
    wthr.com ^ | April 26, 2012 | wthr.com
    Investigating the IRS: Why it gives billions to illegal immigrants INDIANAPOLIS - Why are many illegal immigrants getting a bigger tax refund than you? Blame it on the IRS and a massive tax loophole that's now being exposed by Eyewitness News. 13 Investigates has found the IRS is giving away your tax dollars to illegal workers and people who don't even live in the United States - and the problem is costing billions! We want you to see exactly where your money is going and why the IRS is allowing it to happen. From the homes of illegal workers in...
  • EU: German Chancellor Angela Merkel faces a fight for the eurozone's future

    05/07/2012 1:27:30 PM PDT · by bruinbirdman · 15 replies
    The Telegraph ^ | 5/7/2012 | Roland Gribben
    Angela Merkel could be forgiven if she had taken to her bunker on Monday. It was, after all, the 67th anniversary of the German surrender to end the Second World War in Europe. Activists wearing masks of Angela Merkel and Francois Hollande perform a fake marriage in front of the Brandenburg Gate in Berlin There is little prospect of the German chancellor putting her hands up and losing the economic war she has been waging with her eurozone partners for two years now. Austerity Rules OK might be the graffiti shorthand for the debt and public spending reduction programmes that...
  • New York Times Confirms Non-Newsroom Layoffs (Dinosaur Media DeathWatch™)

    05/07/2012 1:22:37 PM PDT · by abb · 30 replies
    JimRomenesko.com ^ | May 4, 2012 | Jim Romenesko
    I received multiple tips late Thursday about layoffs at the New York Times, including this report: More than 50 people were laid off on the corporate side. The layoffs include George Freeman, one of their well-known in-house lawyers. The worry is this is just the begginning of cuts — and that the company is putting pressure on the unions. Several of the people who were laid off were minorities, including African Americans and Hispanics. Another tipster says of Freeman: He was “one of the two go-to guys on news-department legal matters, from story vetting to fighting First Amendment cases. The...
  • Treasury Would Support Bankruptcy Of (Gubment-Owned GMAC/)Ally's ResCap Unit-Official

    05/07/2012 1:18:07 PM PDT · by tcrlaf · 3 replies
    NASDAQ ^ | 5-7-12 | Alan Zibel and Andrew R. Johnson
    The U.S. Treasury Department has agreed to support a bankruptcy filing for the struggling home-loan unit of government-owned lender Ally Financial Inc., if the company chooses to take that route, an official said Monday. A bankruptcy filing for Ally's subsidiary, Residential Capital, has been widely expected in the coming weeks, when the unit faces more than $300 million of bond-related payments. It recently missed a $20 million bond-interest payment, which has a grace period until May 17. ResCap, once one of the largest subprime-mortgage lenders in the country, has been a drag on Ally, which halted plans for an initial...
  • Pills filled with powdered human baby flesh found by customs officials

    05/07/2012 12:51:05 PM PDT · by mojito · 50 replies
    The Telegraph ^ | May 7, 2012 | Unattributed
    South Korea has seized thousands of smuggled drug capsules filled with powdered flesh from dead babies, which some people believe can cure disease. The capsules were made in northeastern China from babies whose bodies were chopped into small pieces and dried on stoves before being turned into powder, the Korea Customs Service said. Customs officials refused to say where the dead babies came from or who made the capsules, citing possible diplomatic friction with Beijing. Chinese officials ordered an investigation into the production of drugs made from dead fetuses or newborns last year.
  • ISM Report: Pace Of Manufacturing Growth Is Quickening

    05/07/2012 12:47:10 PM PDT · by robowombat · 9 replies
    Manufacturing Net ^ | Fri, 05/04/2012 - 1:07pm | Bradley J. Holcomb,
    ISM Report: Pace Of Manufacturing Growth Is Quickening Activity in the manufacturing sector and the overall economy has been growing for some time, and now it appears that the pace of growth is quickening. Bradley J. Holcomb, CPSM, CPS "It’s just a reflection of what I think is a stable economic environment, despite the global concerns about Europe and so on,” says Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee. “Manufacturing is a reflection of that stability.” According to the April Manufacturing ISM Report On Business, economic activity in the manufacturing sector...
  • Thousands March As Japan Shuts Off Nuclear Power (stupidity alert)

    05/07/2012 12:36:44 PM PDT · by robowombat · 20 replies
    AP ^ | Mon, 05/07/2012 - 9:32am | Yuri Kageyama, AP Business Writer
    TOKYO (AP) — Thousands of Japanese marched to celebrate the switching off of the last of their nation's 50nuclear reactors Saturday, waving banners shaped as giant fish that have become a potent anti-nuclear symbol. Japan was without electricity from nuclear power for the first time in four decades when the reactor at Tomarinuclear plant on the northern island of Hokkaido went offline for mandatory routine maintenance. After last year's March 11 quake and tsunami set off meltdowns at the Fukushima Dai-ichi plant, no reactor halted for checkups has been restarted amid public worries about the safety of nuclear technology. "Today...
  • First Solar Restructuring Leads To Loss Of $449M

    05/07/2012 12:30:25 PM PDT · by robowombat · 8 replies
    AP ^ | Fri, 05/04/2012 - 2:36pm | Jonathan Fahey, AP Energy Writer
    NEW YORK (AP) — A shakeout that is rattling the solar panel industry has sent First Solar, once among the industry's biggest and strongest companies, to a big quarterly loss. First Solar Inc. said Thursday that it lost $449 million in the first quarter, The company also announced that its Chief Commercial Officer, James Hughes, would become CEO, replacing interim chief and company founder Mike Ahearn. First Solar said the loss amounted to $5.20 per share..... In the year-ago quarter, the company earned $115 million, or $1.33 per share, on revenue of $567 million. First Solar, along with other makers...
  • Union Workers Strike At Illinois Caterpillar Plant (Joliet, Il)

    05/07/2012 12:24:07 PM PDT · by robowombat · 103 replies
    AP ^ | Tue, 05/01/2012 - 9:46am
    <p>JOLIET, Ill. (AP) — About 800 union workers who rejected Caterpillar Inc.'s latest contract offer walked off the job Tuesday at a plant in Joliet.</p> <p>Workers with picket signs lined up outside the plant early Tuesday, just hours after their contract expired. The employees, part of the International Association of Machinists and Aerospace Workers, are asking for better wages and health care. They voted Sunday to reject the Peoria-based company's latest contract offer.</p>
  • Explosions, Fire At Thai Petrochemical Plant Kill 12

    05/07/2012 12:19:11 PM PDT · by robowombat · 4 replies
    AP ^ | Mon, 05/07/2012 - 9:05am
    BANGKOK (AP) -- Officials say explosions and a fire at one of the world's largest petrochemical industrial estates have killed 12 people and injured more than 100 others in eastern Thailand. The blasts Saturday forced the evacuation of more than 1,000 people living near Map Ta Phut industrial estate, Thailand's largest industrial park. The park is in Rayong province, 180 kilometers (110 miles) southeast of Bangkok. Rayong Gov. Seni Jittakasem says authorities are investigating the cause of the explosions, which occurred when workers were cleaning a chemical tank at a Bangkok Synthetics plant, a synthetic rubber manufacturer. He said Sunday...
  • Debunking the latest from the New York Times on “smaller” government spending

    05/07/2012 11:57:26 AM PDT · by SeekAndFind · 3 replies
    Hotair ^ | 05/07/2012 | MORGEN RICHMOND
    The government is getting smaller under President Obama, proclaimed an astonishing headline in the New York Times last Friday. Really? For the first time in 40 years, the government sector of the American economy has shrunk during the first three years of a presidential administration.Spending by the federal government, adjusted for inflation, has risen at a slow rate under President Obama. But that increase has been more than offset by a fall in spending by state and local governments, which have been squeezed by weak tax receipts.In the first quarter of this year, the real gross domestic product for the...
  • Highway Limitations During the NATO Summit

    05/07/2012 10:24:59 AM PDT · by deang · 7 replies
    Trucking Port ^ | 7-5-12 | Deang
    The NATO Summit will be held on May 20th -21st in Chicago and the Illinois DOT is requesting everybody to avert the city areas and mainly the downtown and the South Loop during the Summit week. Some limitations are also going to be placed on excessive and overweight shipments. From May 18th -22nd excessive and overweight shipment would not be allowed on the expressway and ramps. [Read More....]
  • A Contradiction in Keynesian Fiscal Policy

    05/07/2012 10:22:04 AM PDT · by LucianOfSamasota · 4 replies
    CATO Institute ^ | May 7th, 2012 | Chris Edwards
    There’s an internal contradiction in the way that Keynesian-oriented economists and policymakers address the federal budget situation. I’ve noticed it over and over. A passage in a Washington Post op-ed today by Mohamed El-Erian of Pimco captures it perfectly: [T]he U.S. fiscal situation requires a carefully designed and well-timed overhaul to make government finances more efficient and fairer—among other things, combining immediate stimulus with a credible set of medium-term tax and entitlement reforms and a sustainable effort to reduce the deficit over time. El-Erian seems to want more deficit-fueled “stimulus” now, combined with a “credible” plan that would reduce the...
  • Smartphone Shipments to Reach 1.7 billion in 2017 and Android to Dominate as OS

    05/07/2012 9:44:26 AM PDT · by bigbob · 18 replies
    Wireless Design and Development ^ | 5/3/2012 | anine E. Mooney
    Smartphones will outperform the overall market for mobile phones, growing at a compound annual growth rate (CAGR) of 24.9% for the period 2011–17 to reach 1.7 billion units, according to Ovum. Predictions show Android as the dominant operating system over the next five years as handset vendors rush to make it their primary smartphone platform. In its latest forecast*, the leading telecoms analyst house reveals global annual mobile phone shipments will grow at a CAGR of 6.3% between 2011 and 2017, driven primarily by demand from emerging markets where connection growth will continue to fuel handset shipments. New shipments in...
  • Mining permit backlog leaves U.S. dependent on China for widely used rare minerals

    05/07/2012 9:30:23 AM PDT · by lowbridge · 10 replies
    human events ^ | may 7, 2012 | Audrey Hudson
    Strategic minerals that are essential components in green and high technology such as hybrid cars, iPods and solar panels are readily available in the U.S. but efforts to mine the elements are being stalled by bureaucrats for years, industry officials say. “The United States is heavily reliant on foreign countries such as China for critical minerals that are the building blocks of our economy and imperative to renewable energy development, military technology and the manufacturing of nearly all of our electronic devices,” said Rep. Doc Hastings (R-Wash.), chairman of the House Resources Committee.
  • Ron Paul Could Still Win Enough Delegates To Deny Mitt Romney The Republican Nomination

    05/07/2012 7:45:57 AM PDT · by IbJensen · 127 replies
    The American Dream ^ | 5/7/2012 | Staff
    Despite what you may have heard from the mainstream media, Mitt Romney does not have the Republican nomination locked up. In fact, he is rapidly losing delegates that almost everyone assumed that he already had in the bag. To understand why this is happening, you have to understand the delegate selection process. Each state has different rules for selecting delegates to the Republican national convention, and in many states the "voting" done by the public does not determine the allocation of delegates to particular candidates at all. And the truth is that delegates are the only thing that really...
  • General Motors is becoming China Motors

    05/07/2012 7:37:05 AM PDT · by Upstate NY Guy · 12 replies
    You Tube ^ | May 4, 2012 | Vince Wade
    General Motors is becoming China Motors. Forget the spin. The evidence is clear and convincing. Did U.S. taxpayers save GM for China? Listen to the candid comments of GM's CEO.
  • Japan's Nuclear Power Hara Kari (Will Japan shut down its Nuclear Industry forever?)

    05/07/2012 7:21:18 AM PDT · by SeekAndFind · 26 replies
    American Thinker ^ | 05/07/2012 | Ron Lipsman
    Any discussion of Japan and nuclear power is complicated by that country's history as the only nation ever to suffer a nuclear attack. That event continues to haunt the venerable Pacific nation. This is an immutable truth that one must accept regardless of which side one is on concerning the legitimacy of the US attack 67 years ago. That said, the Japanese nation nevertheless staked much of its economic destiny on nuclear power. Beginning more than four decades ago, Japan deployed over 50 nuclear power plants to feed the energy needs of its densely packed population. Very limited in domestic...
  • What’s Wrong with Argentina? A quick tour of the country tells us the story clearly.

    05/07/2012 7:10:54 AM PDT · by SeekAndFind · 21 replies
    National Review ^ | 05/07/2012 | Matthew Schaffer
    When President Cristina Fernández de Kirchner initiated the nationalization and expropriation of the Argentine assets of YPF, an oil company owned mostly by Spanish interests, it came as no surprise to anyone who has visited the country recently or watched it closely. The theft, a consistent manifestation of the Kirchner personality and the mercurial character of the Argentine political class, was more a return to business as usual for the country than a shock — and goes a long way toward explaining why Argentina is poor. In January 1912, an impartial observer of Argentina and the United States would have...
  • Merkel says (European Union) fiscal pact not up for renegotiation

    05/07/2012 7:04:18 AM PDT · by Qbert · 7 replies
    Reuters ^ | May 7, 2012 | Reuters
    May 7 (Reuters) - The European Union's fiscal compact is not up for renegotiation, German Chancellor Angela Merkel said on Monday, a day after Socialist Francois Hollande won France's presidential election. [Snip] "We in Germany are of the opinion, and so am I personally , that the fiscal pact is not negotiable. It has been negotiated and has been signed by 25 countries," Merkel told a news conference.
  • 'Paycheck Fairness' Will Mean a Pay Cut for Men

    05/07/2012 6:52:58 AM PDT · by ReleaseTheHounds · 32 replies
    Wall Street Journal ^ | May 7, 2012 | Carrie Lukas
    Team Obama calculates that its road to victory is paved with the votes of women, so the American people are now subject to a coordinated effort to cast GOP opposition to expanding government power as an assault on the weaker sex. But few women view public policy as a battle between the sexes. Women whose husbands, brothers and sons are struggling to find jobs find no comfort in women's comparatively low unemployment rate. Next up in the Democratic campaign is the Paycheck Fairness Act, supposedly necessary to achieve "equal pay" for women. Never mind that it's already illegal to pay...
  • Francois Hollande Wins in France and Europe Descends Into No-Man's Land

    05/07/2012 6:35:12 AM PDT · by SeekAndFind · 30 replies
    Forbes ^ | 05/07/2012 | Paul Roderick Gregory
    Socialist candidate Francois Hollande has won the French election as expected. His high-tax, pro-stimulus, welfare-state-protection platform, in effect, scuttles the Eurozone rescue program engineered by Merkel and a reluctant Sarkozy. Hollande’s election leaves the European Union with three stark choices, none of which are good: 1) Germany and the European Central Bank cave and bail out any and all debtor countries under the cover of some fictitious future fiscal discipline, or 2) The Eurozone countries muddle along from one band-aid fix to the next as the bond vigilantes breathe down their necks while they hope to catch a break, or...
  • The Vanishing Workers [The labor participation rate is back where it was in December 1981]

    05/07/2012 6:24:59 AM PDT · by SeekAndFind · 21 replies
    The economy turned in another lackluster month for job creation in April, with 115,000 net new jobs, 130,000 in private business (less 15,000 fewer in government). The unemployment rate fell a tick to 8.1%, albeit mainly because the labor force shrank by 342,000. This relates to what is arguably the most troubling trend in the April jobs report, which is the continuing decline in the share of working-age Americans who are in the labor force. The civilian labor participation rate, as it's known, fell again in April to 63.6%. That's the second decline in a row and the lowest rate...
  • Jobs Few, College Grads Flock to Unpaid Internships

    05/07/2012 6:19:43 AM PDT · by SeekAndFind · 40 replies
    New York Times ^ | 05/07/2012 | By STEVEN GREENHOUSE
    Confronting the worst job market in decades, many college graduates who expected to land paid jobs are turning to unpaid internships to try to get a foot in an employer’s door. While unpaid postcollege internships have long existed in the film and nonprofit worlds, they have recently spread to fashion houses, book and magazine publishers, marketing companies, public relations firms, art galleries, talent agencies — even to some law firms. Melissa Reyes, who graduated from Marist College with a degree in fashion merchandising last May, applied for a dozen jobs to no avail. She was thrilled, however, to land an...
  • What if the austerity measures and balancing budget won't work? The worst may be still on the way...

    05/07/2012 6:16:02 AM PDT · by se99tp · 8 replies
    Christian Concepts Daily ^ | May 7th, 2012 | Norman Bailey, Alexander Mirtchev
    Other than the stock market crash of 1987, which was seen at the time as the harbinger of another great depression, the worst was avoided due to excellent Federal Reserve policies directed specifically at market psychology. The effectiveness of the Fed aside, it should be noted that the short and medium cycles did not coincide during that period. After the mid-point of the decade of 2000, they did, so that a long-wave theorist could hypothesize that the collapse phase of the long wave was delayed by about a decade, when the three cycles did, in fact, coincide. The confluence of...
  • Sky-high Electric Bills Courtesy of Obama EPA’s War on Coal

    05/07/2012 6:11:09 AM PDT · by Mikey_1962 · 23 replies
    New American ^ | 5-4-12 | William F. Jasper
    “So if somebody wants to build a coal-powered plant, they can. It’s just that it will bankrupt them because they are going to be charged a huge sum for all that greenhouse gas that’s being emitted.” — Candidate Barack Obama, 
San Francisco Chronicle interview, 
January 17, 2008 “Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.” — Candidate Barack Obama, 
Same interview as above “We’re going to have to cap the emission of greenhouse gasses. That means that power plants are going to have to adjust how they generate power … but a lot of us who...
  • Gun sales booming in Wisconsin

    05/07/2012 6:03:09 AM PDT · by rellimpank · 13 replies
    Firearms-related businesses in Wisconsin say they are having a difficult time meeting demand from rising gun sales in the state. Wisconsin's gun sales follow a national trend, and businesses say the rising demand is being driven by various factors, from Wisconsin's concealed carry law to presidential politics. "It's incredible," said Steve Lauer, owner of Lauer Custom Weaponry, which manufactures firearms, firearm coatings and accessories in Chippewa Falls. "We can hardly keep up." Exact figures on firearms sales don't exist, but based on the number of calls made to the FBI and Wisconsin Department of Justice for background checks related to...
  • Obama invites Hollande to White House

    05/07/2012 5:26:16 AM PDT · by IbJensen · 9 replies
    AFP ^ | 5/7/2012 | By Tangi Quemener
    President Barack Obama congratulated French president-elect Francois Hollande for his victory Sunday, but warned of "challenges" ahead, a clear reference to Afghanistan and eurozone debt crisis. The US president was among the first world leaders to welcome Hollande's election as France's first Socialist president in nearly two decades, a result sure to have major implications for Europe as it struggles to emerge from a financial crisis. Obama invited Hollande for bilateral talks at the White House later this month ahead of a G8 leaders meeting he will host at his Camp David retreat in Maryland between May 18-19, and a...
  • Splintering of Greece and the Loss of France

    05/07/2012 5:03:19 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | May 7, 2012 | Mike Shedlock
    Preliminary exit polls are not good for the pro-austerity, keep Greece in the Eurozone at any cost coalition as 3 parties vie for top post An exit poll commissioned by Greek media shows three parties are vying for the top spot in the country's critical parliamentary elections, with no definitive front-runner and none gaining enough votes to form a government. According to the exit poll, the conservative New Democracy party will get between 17 percent and 20 percent; the formerly majority socialist PASOK between 14 percent and 17 percent, and the left-wing Radical Left Coalition, or Syriza, between 15.5 percent...
  • What Motivates the Left, Love for the Poor or Hatred against the Rich?

    05/07/2012 4:17:00 AM PDT · by Kaslin · 40 replies
    Townhall.com ^ | May 7, 2012 | Daniel J. Mitchell
    I shared an amazing video last year featuring Margaret Thatcher exposing the left for wanting to keep the poor destitute if that was the price of hurting the so-called rich. Deroy Murdock makes similar points in a great column for National Review.For too many liberals like Obama, “fairness” is not about enriching the modest; it’s about impoverishing the moneyed. Multibillionaire Warren Buffett has energized liberals with his still-unverified claim that his tax rate lags his secretary’s. …Somehow, reducing the secretary’s taxes never came up. Instead liberals demand the so-called Buffett Rule, an instrument for bludgeoning the successful rather than boosting the downtrodden....
  • How Bill Gates Rips Off Babies

    05/07/2012 1:51:13 AM PDT · by Kaslin · 28 replies
    Townhall.com ^ | May 7, 2012 | Katie Kieffer
    Stealing from babies is easy and low. Microsoft co-founder Bill Gates makes himself feel powerful while negligently ripping off babies. I am a capitalist. I defend entrepreneurs. However, I think young people and their parents should know that Gates is a sham entrepreneur. Gates openly uses his wealth and influence to push policies that will make entrepreneurial success unachievable for babies (future generations of Americans). Gates is more dangerous to the free markets than President Obama. Why? Because everyone knows that Obama is a socialist who lacks business experience. However, when a billionaire capitalist like Gates advocates socialist policies,...
  • Unemployment Explained: Obama's Disability Scammers

    05/07/2012 1:12:58 AM PDT · by Kaslin · 28 replies
    Townhall.com ^ | May 6, 2012 | John Ransom
    I have to credit our own Mike Shedlock for writing about how Obama’s been able to drive down the topline unemployment number even though unemployment remains as a big problem today as it has ever been. I’m often reluctant to piggy back on a contributor’s work, but when something is really newsworthy, I think it’s justified. Yesterday Mish pointed out that:In the last year, the civilian population rose by 3,638,000. Yet the labor force only rose by 945,000. Those not in the labor force rose by 2,693,000. In the last month, actual employment fell by 169,000, but the unemployment rate...
  • Oil plunges below $97 on US demand, Europe votes

    05/07/2012 12:54:39 AM PDT · by Uncle Slayton · 13 replies
    Houston Chronicle ^ | May 7, 2012 | ALEX KENNEDY
    SINGAPORE (AP) — Oil dived below $97 a barrel Monday in Asia, bringing its fall over three trading days to about 8 percent, as a slowdown in U.S. hiring and election results in Europe dimmed expectations of stronger economic growth. Benchmark oil for June delivery was down $1.87 to $96.62 a barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $4.05 to settle at $98.49 in New York on Friday. Brent crude for June delivery was down $1.81 at $111.37 per barrel in London. Crude has slumped about 8 percent over the last three trading sessions...
  • EU: Greeks Cast Ballots Against Austerity

    05/07/2012 12:16:13 AM PDT · by bruinbirdman · 10 replies
    Spiegelonline ^ | 5/7/2012 | Julia Amalia Heyer in Athens
    Frustrated Greek voters on Sunday punished the country's two biggest parties. The vote represents a protest against draconian austerity and the massive influence the EU and IMF are having on the country. Even if fringe parties profited from this anger, though, no one in Greece really wants to abandon the euro. Of course they did it. It had been clear for some time now that, during the first parliamentary election since the debt crisis struck, Greek voters would punish both of the two parties that have traditionally been the country's biggest: the conservative Nea Dimokratia (New Democracy) and the socialist...
  • Engineers, lawmakers prepare for driverless cars

    05/06/2012 11:56:29 PM PDT · by Tolerance Sucks Rocks · 60 replies
    The Palm Beach Post ^ | May 6, 2012 | Ana M. Valdes
    It may be years before you can take your hands off the wheel and have your car go where you tell it. But driverless cars are on their way and Florida is already embracing the vehicles, whose technology promises to save lives, create jobs and free minds from the grind of the road. Last month Florida became the second state to pass a bill allowing tests of self-driving cars. Lawmakers in places such as Florida and Nevada - the first state to legalize self-driving cars for testing - have realized that embracing the technology could be fruitful during tough economic...
  • Clinton hopes India will do "even more" to cut Iran oil imports

    05/06/2012 10:58:49 PM PDT · by Olog-hai · 11 replies
    Reuters ^ | Mon May 7, 2012 1:18am EDT | (Reporting by Andrew Quinn; Editing by John Chalmers)
    Secretary of State Hillary Clinton said on Monday she hoped India will do "even more" to cut its purchases of oil from sanctions-hit Iran as there was adequate supply available from other countries such as Saudi Arabia. Speaking in the city of Kolkata on a visit to India, Clinton said there would be a decision in about two months as to whether India would be given a waiver from sanctions over Iran oil purchases. She also said she was apprehensive about the possibility of a conflict between Iran and Israel. …
  • “We’ve Begun to See What Change Looks Like”—America: “No Thanks, Barack!”

    05/06/2012 9:00:54 PM PDT · by STD · 9 replies
    Canadian Free Press ^ | Sunday, May 6, 2012 | Kelly OConnell
    Obama: “We’ve Begun to See What Change Looks Like”—America: “No Thanks, Barack!” - Kelly OConnell Sunday, May 6, 2012 (10) Comments | Print friendly | Email Us In a startling, unprovoked admission of a failure to embrace the American Vision, Obama recently summed up his first three years, stating “We’ve begun to see what change looks like.” That’s called taking ownership. Now the question is, what does Barack’s “change” resemble? Candidly, Obama’s America has entered a retrograde orbit. For example, the most recent jobs figures looked superficially promising, with official “unemployment” down to 8.1%. This bettered the 10%joblessness of the...
  • France, Greece and Germany election results send austerity shockwaves through Europe

    05/06/2012 8:30:13 PM PDT · by bruinbirdman · 60 replies
    The Telegraph ^ | 5/6/2012 | Bruno Waterfield, Devorah Lauter in Paris
    The stunning victory of the French Socialists and wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. Supporters of Socialist Francois Hollande celebrate in Paris François Hollande's election threws down the gauntlet to Angela Merkel, the German Chancellor, who has railroaded the eurozone into agreeing a new "fiskalpakt" treaty enshrining Germany's austerity doctrine. The economic doctrine of austerity, to cut the burden of state spending to free up the economy, has ruled supreme with the support all of Europe's leaders, the European Union and financial markets. But political leaders were on...
  • Euro tanks to three-month low after Greek vote upsets (Euro Death Watch)

    05/06/2012 8:28:47 PM PDT · by Qbert · 12 replies
    Reuters ^ | May 6, 2012 | Hideyuki Sano
    (Reuters) - The euro tanked on Monday, breaking below its well-worn range from the past three months against the dollar after elections in Greece and France raised fresh concerns that the euro zone's hard-earned bailout and austerity steps could fall apart. In particular, the apparent failure of two pro-bailout ruling parties in Greece to win a majority in the parliament is throwing the future of the bailout scheme for the country into doubt. With 95 percent of votes counted, the conservative New Democracy (ND) and socialist PASOK, who have dominated Greece for decades, is seen falling short of the 151-seat...
  • When is a job not a job? (Lots of crappy, unpaid internship jobs for the taking)

    05/06/2012 8:06:54 PM PDT · by SeekAndFind · 22 replies
    Hotair ^ | 05/06/2012 | Jazz Shaw
    No, it’s not a riddle. (At least not a very funny one.) But it's a question which many recent college graduates are likely now asking themselves, particularly given the fairly bleak jobs numbers for April. The Paper of Record reports that new job seekers, facing a market where a paycheck is hard to come by, are turning to unpaid internships in record numbers. And while such positions were traditionally common in media and charitable foundations, they are now spreading across all sectors of the private market.The idea is that such a position gets your foot in the door, teaches you...
  • President Obama's "All Of The Above" Energy Duplicity

    05/06/2012 7:24:38 PM PDT · by Innovative · 4 replies
    Forbes ^ | May 6, 2012 | Robert Bradley Jr.
    There's been a noticeable sea change in the way President Obama talks about energy. Don't buy the makeover. The new Obama is running from his record - and plans to revert to old ways after what he calls "my last election" with all the tools at his disposal. To simply stick with the pro-green, anti-oil strategy was political peril. So Obama went surreal with an "all-of-the-above" energy agenda. Obama's Environmental Protection Agency recently issued new rules that will force 32 mostly coal-powered plants to close and threaten another 36 facilities. The agency has also issued "blackout" regulations that effectively prohibit...
  • The end of the line for Minnesota's coal plants?

    05/06/2012 6:39:52 PM PDT · by TurboZamboni · 33 replies
    pioneer press ^ | 5-6-12 | Leslie-Brooks Suzukamo
    Sherburne County Generating Station, better known as Sherco, is a power-producing workhorse. But even good workhorses head to the glue factory eventually. The 2,400 megawatt coal-fired plant in Becker, 45 miles northwest of the Twin Cities, has generated the bulk of Xcel Energy's electricity for Minnesota for more than three decades.
  • Au revoir, austerity! New Euro crisis as French vote for return to ruinous spending

    05/06/2012 6:36:35 PM PDT · by Third Person · 77 replies
    The Daily Mail UK ^ | May 6th, 2012 | Peter Allen, Tim Shipman, and Rob Davies
    Europe was plunged into fresh economic chaos last night as France rejected austerity and elected a tax-and-spend socialist president. Nicolas Sarkozy suffered a humiliating defeat at the hands of Francois Hollande, who ran on a platform of tearing up last December’s controversial deal to save the euro from oblivion. The inexperienced Mr Hollande is now seeking talks with the European Central Bank and German Chancellor Angela Merkel to demand further borrowing to boost growth. Read more: http://www.dailymail.co.uk/news/article-2140427/Francois-Hollande-victory-French-presidential-election-spell-disaster-Euro.html#ixzz1u8xkQvsA
  • Victor Davis Hanson: "All Fall Down"

    05/06/2012 5:34:43 PM PDT · by Eccl 10:2 · 51 replies
    PJ Media ^ | 05/06/2012 | Victor Davis Hanson
    The temple of postmodern liberalism was rocked these last few weeks, as a number of supporting columns and buttresses simply crashed, leaving the entire edifice wobbling.