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If readers need clarification on what was the primary source of spending-based "growth" for the US economy in the fourth quarter, the same source that bumped up final Q3 GDP from 3.9% to 5.0%, please ping us: we will gladly explain the chart below.  And just in case it is still unclear what Americans are spending their "gas sasvings" on, here it is one more time.And just in case the fading impact of Obamacare is not already priced in, here is what Q4 inventories did: rising by $113.1 billion in Q4, this was the second highest quarterly increase in...

Yes you read that right, and an academic one, no less, much to the consternation of the circles he travels in. “I’m a philosophy professor specializing in ethics and political philosophy, and like many of my fellow academics, I’m a political progressive,” Philip Cafaro writes in The Chronicle Review. “I value economic security for workers and their families, and support a much more equal distribution of wealth, strong and well-enforced environmental-protection laws, and an end to racial discrimination in the United States. I want to maximize the political power of common citizens and limit the influence of large corporations. My...

The eurozone experienced negative inflation for the second month in a row, according to a flash estimate published today (30 January) by Eurostat, the European Union’s statistical office. Inflation is expected to be at −0.6%, with consumer prices falling further than economists had forecast. The fall represents the biggest decline in prices in the history of the euro. […] The drop was driven by the fall in energy prices (−8.9%, compared with −6.3% in December). […] The deflationary spiral comes as Mario Draghi, the president of the European Central Bank (ECB), is trying to tackle deflation with a policy of...

China has requested all of their foreign tech collaborators who have businesses on its territory to alter their products before releasing them on the Chinese market. The Chinese government has imposed new, stricter legislation for the foreign companies which will make them less secure. The official authorities requested that IT infrastructure providers, such as Cisco, should provide access to their hardware in the form of back-doors leading to their products. Softwares will have to follow the same rules, so ATMs which use Microsoft software will also have all their secrets exposed – going as far as revealing its source code....

Special agents with U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI), and officers with U.S. Customs and Border Protection (CBP) have seized since October illegally imported Chinese honey valued at $2.45 million destined for U.S. consumers. HSI and CBP have stepped up efforts regarding commercial fraud investigations that focus on U.S. economic, and health and safety interests. Anti-dumping schemes create a divergent market that negatively affects legitimate businesses.

The statement said the automatic spending cuts, known in Washington as "sequestration," had hurt the U.S. economy and its military. Obama, the White House said, will seek to "fully reverse" cuts in domestic spending while providing equal spending boosts for military and national security programs.

Foreign Policy: Soon after President Obama announced plans to normalize relations with Cuba, Sen. Marco Rubio called him the worst negotiator since Jimmy Carter. Cuban officials are now proving Rubio right.

Here’s a list of the parties that coalesced under the umbrella of Syriza ( new Greek regime) : Active Citizens Anticapitalist Political Group Citizens’ Association of Riga Communist Organization of Greece (KOE): Communist Platform of Syriza: Greek section of the International Marxist Tendency Democratic Social Movement (DIKKI) Ecosocialists of Greece Internationalist Workers’ Left (DEA) Movement for the United in Action Left (KEDA) New Fighter Radical Left Group Roza Radicals Red Renewing Communist Ecological Left (AKOA) Synaspismós Union of the Democratic Centre Unitary Movement And a number of independent leftist activists

Tulsa-based drilling rig maker and operator Helmerich & Payne Inc. expects to lay off 2,000 employees companywide, it announced Thursday during a conference call. The cuts, which are already beginning, are spurred by a reduction in rig use due to falling crude oil prices, CEO John Lindsay said during the earning call with analysts. Helmerich & Payne employs about 500 in Tulsa and nearly 12,000 companywide. The overall reduction is about 17 percent of the company’s total workforce. “This is without question the worst part of the downturn,” Lindsay said. Lindsay revealed the layoffs shortly after a company earnings report...

HOUSTON — ConocoPhillips has told its employees layoffs could be on the way, as the independent producer looks to reign in spending amid lower crude prices. The layoffs and an accompanying pay freeze will supplement cost-control steps the Houston company has already taken, such as slashing its exploration and production budget, Daren Beaudo, a spokesman for ConocoPhillips, said in an emailed statement. The company did not detail how many workers would be let go or when the job cuts could take place. “As with our capital program we will be deferring, delaying or eliminating controllable costs where we can,” he...

The newly GOP-controlled US Senate has approved the Keystone XL Pipeline in a 62-36 vote, with three Democrats joining all 53 Republicans. However, the issue is far from over. Now the White House will be in an embroiled battle with the US Congress, as the Senate and House versions of the Keystone legislation must still be synchronized. The White House and liberal Democrats have been fighting the Keystone Pipeline for years now. Notable Democrats opposed to the energy project are Senate Minority Leader Harry Reid (D-NV) and Sen. Barbara Boxer (D-CA). Boxer told the AP that passing the Keystone Pipeline...

Military and commercial vehicle maker AM General will start making Mercedes-Benz SUVs this summer under a new, multi-year contract with the German automaker. AM General will make the R-Class SUV at its commercial vehicle plant in Mishawaka, Indiana. The R-Class, which comes with six or seven seats, was briefly sold in the U.S. but has been sold exclusively in China since 2013. Mercedes doesn't release sales numbers for individual models in China, but in a presentation last year the company said it sold 12,700 R-Class SUVs in 2013. Mercedes says it needs to move production of the R-Class from its...

PUEBLO, Colo. - KRDO NewsChannel 13 has confirmed that Pueblo's only Planned Parenthood clinic will close at the end of February. The clinic is located off of Highway 50 West near Club Manor Drive. Carl Winder reports that the shopping center where the clinic is located was recently sold, and that the new owner decided not to renew Planned Parenthood's lease. Planned Parenthood said it was unable to find anywhere else in town to rent. The clinic will close for good on February 24.

Declaring an end to “mindless austerity,” President Barack Obama called for a surge in government spending Thursday, and asked Congress to throw out the sweeping budget cuts both parties agreed to four years ago when deficits were spiraling out of control. Obama’s proposed $74 billion in added spending—about 7 percent—would be split about evenly between defense programs and the domestic side of the budget. Although he’s sought before to reverse the “sequester” spending cuts, Obama’s pitch in this year’s budget comes with the added oomph of an improving economy and big recent declines in federal deficits. Taking a defiant tone,...

It might be hard to imagine President Ronald Reagan agreeing with President Barack Obama's take on wealth inequality. But Reagan's first director of the Office of Management and Budget, David Stockman, says that the disparity in household wealth is a major problem that ought to be addressed. He just has very different ideas about how to deal with it. (snip) But Stockman says blame lays not with the tax code (indeed, he pioneered a trickle-down approach to taxes under Reagan) but with the Fed. Obama "is talking about a symptom, but he's clueless as to the cause. The cause is...

The U.S. Senate passed a bill Thursday approving the Keystone XL oil pipeline, setting up a looming veto showdown with the White House. The legislation passed on a 62-36 vote

The U.S. Federal Communications Commission on Thursday took a step toward improving Internet speeds in America, requiring providers to offer download speeds of at least 25 megabits per second to classify as "broadband." The new restrictions also require 3Mbps speeds for uploads to classify as broadband Internet. Internet service providers face the more severe restrictions after the FCC determined that U.S. broadband deployment is not keeping pace with the rest of the world. The new benchmark speeds are a large improvement from the previous requirement of 4Mbps download and 1Mbps upload to classify as broadband. The FCC said that the...

U.S. crude turned positive on Thursday afternoon after earlier falling below $44 a barrel for the first time since April 2009, while benchmark Brent sharply pared early gains after data showing additions to already record-high U.S. oil inventories. Oil prices had risen broadly earlier in the session after preliminary U.S. weekly jobless claims data hit a nearly 15-year low, indicating further strength in the world's largest economy. But crude futures in New York were near a six-year low by midmorning after a report from oil services firm Genscape, which showed fresh builds of 1.6 million barrels at the Cushing, Oklahoma...

The Senate on Thursday took a major step toward passing legislation that would approve the long-stalled Keystone XL pipeline. After weeks of considering Republican and Democratic amendments to the bill, Republicans finally found enough Democrats to get over a procedural obstacle that required 60 votes. The Senate voted 62-35 in favor of ending debate on the bill, which will allow the Senate to pass the bill later in the day. The Senate will pass the Keystone XL pipeline bill Thursday afternoon, delivering a victory to Majority Leader Mitch McConnell (R-Ky.) and Majority Whip John Cornyn (R-Texas.). Image: AP Photo/J. Scott...

The Keystone XL pipeline is closer than it’s ever been to approval after the Senate overcame a Democrat-led filibuster Thursday and was headed for a final passage vote later in the day — setting up an eventual showdown with President Obama, who has promised a veto. Nine Democrats bucked Mr. Obama’s threat and voted with 53 Republicans to approve the pipeline, which has taken on a political significance far beyond the 830,000 barrels per day of tar sands oil that it is projected to carry if it ever gets built. It marks the first major legislation to clear the Senate...