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Keyword: economicpolicy

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  • France says Brussels Ďcannot dictateí economic policy

    05/30/2013 2:18:44 AM PDT · by Olog-hai · 2 replies
    EU Observer ^ | 30.05.13 @ 09:29 | Andrew Rettman
    Franceís President and Prime Minister have said Brussels has no right to tell them which economic reforms to make. Speaking to AFP on a visit to Rodez, in southern France, on Wednesday (29 May), President FranÁois Hollande said: ďThe European Commission cannot dictate to us what we have to do. It can simply say that France has to balance its public accounts, which is true.Ē Ö His Prime Minister, Jean-Marc Ayrault, was equally defiant at a meeting in Matignon, in northeast France, with former German leader Helmut Schmidt the same day. He said: ďWe will carry out reforms in our...
  • A Minority View: Higher Minimum Wage

    02/27/2013 9:40:23 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | February 27, 2013 | Walter E. Williams
    In his State of the Union address, President Barack Obama proposed raising the minimum wage from $7.25 an hour to $9 an hour. That would be almost a 25 percent increase. Let's look at the president's proposal, but before doing so, let's ask some other economic questions. Are people responsive to changes in price? For example, if the price of cars rose by 25 percent, would people purchase as many cars? Supposing housing prices rose by 25 percent, what would happen to sales? Those are big-ticket items, but what about smaller-priced items? If a supermarket raised its prices by...
  • Just What Was Fundamentally Wrong with Bolshevism?

    11/29/2012 5:29:21 AM PST · by SJackson · 45 replies
    Frontpagemagazine ^ | November 29, 2012 | Steven Plaut
    I recently read the new biography of Trotsky by Oxford don Robert Service, published in 2009 by Pan Books. It is well-written and surprisingly interesting. The book does a great public service in describing the life of the actual Trotsky, whose previous ďbiographiesĒ were little more than hagiographies written by his toady worshippers (people like Isaac Deutscher). The last time that I had taken any interest in Trotsky was when I was a teenager and had fleeting delusions of believing in ďsocialism.Ē Reading the new book as an adult and as an economist, I found it a useful opportunity to...
  • EDITORIAL: A land less free

    01/11/2013 5:52:31 PM PST · by jazusamo · 4 replies
    The Washington Times ^ | January 11, 2013 | Editorial
    America continues to lose ground in economic libertyThe United States is no longer a beacon of freedom to the world. Countries once looked to America for inspiration on how to escape poverty and embrace prosperity, but now they can find better examples to follow. The Heritage Foundation on Thursday noted our fifth consecutive decline in its annual Index of Economic Freedom. Itís a sad day when countries such as Chile and Mauritius can outdo the red-white-and-blue when it comes to opportunity. U.S. economic policy has broken faith with the Founding Fathers, who preached the value of property rights, sound money...
  • Obama Economy ďIs Still In A Giant Hole

    10/31/2012 10:37:26 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | October 31, 2012 | Donald Lambro
    WASHINGTON - The bleak truth about the comatose Obama economy is not just that it's barely breathing, but that it's still not far from another recession. President Obama's campaign bid for another four years is loosely based on the preposterous claim the economy is "moving forward." In fact, it's been falling backward or at least treading water on a number of fronts, and economic forecasters say it will weaken further under his policies, if he is re-elected. Economists predict yet another weak jobs figure Friday that may push the unemployment rate up a bit, reminding undecided voters and even jittery...
  • Despite Convention Distractions, It's Still All About the Economy

    09/07/2012 12:52:46 PM PDT · by Kaslin · 3 replies
    Townhall.com ^ | September 7, 2012 | Scott Rasmussen
    Mercifully, the political conventions have ended. The political press will keep buzzing over whether Clint Eastwood's unconventional speech helped or hurt Mitt Romney and whether the snafu over Israel and God in the Democratic platform will do any lasting damage to President Obama. Republican reporters will think former President Clinton talked too long, and Democrats will note that New Jersey Gov. Chris Christie talked more about himself than about Romney. But they are missing the point. The campaign is about what's happening in America, not what the politicians are saying. At the beginning of 2012, it was easy to note...
  • My Speech Delivered at the New York Federal Reserve Bank

    04/30/2012 2:53:27 PM PDT · by PuzzledInTX · 14 replies
    Economic Policy Journal ^ | April 25, 2012 | Robert Wenzel
    [SNIP]... Intellectual discourse is, of course, extraordinarily valuable in reaching truth. In this sense, I welcome the opportunity to discuss my views on the economy and monetary policy and how they may differ with those of you here at the Fed. That said, I suspect my views are so different from those of you here today that my comments will be a complete failure in convincing you to do what I believe should be done, which is to close down the entire Federal Reserve System. My views, I suspect, differ from beginning to end... [SNIP]... I stand here confused as...
  • Lessons from the Shale Revolution

    02/23/2012 11:04:02 PM PST · by neverdem · 16 replies
    The American ^ | February 22, 2012 | Ted Nordhaus and Michael Shellenberger
    A closer look at the shale gas story challenges both conservative and liberal policy preferences and points to much-needed reforms for today's mash of state and federal clean energy subsidies and mandates. In his State of the Union address, President Obama invoked the 30-year history of federal support for new shale gas drilling technologies to defend his present day investments in green energy. Obama stressed the value of shale gas‚ÄĒwhich will create thousands of jobs and billions in profits‚ÄĒas part of his "all of the above" approach to energy, and defended the critical role government investment has always played in...
  • ObamaĎs SOTU Outlined Ideas íBased on the Very Model That Is Causing the EU to Implodeí

    01/31/2012 12:30:22 AM PST · by jda · 4 replies
    The Blaze ^ | 30 Janaury 2012 | Christopher Santarelli
    {snip} Janet Daley wrote a blistering column for The Daily Telegraph over the weekend entitled ďBarack Obama is trying to make the US a more socialist state.Ē In the piece, Daley writes that the days of the world looking to the United States for leadership are over: {snip} Listening to the Presidentís State of the Union message last week was like a surreal visit to our own recent past: there were, almost word for word, all those interminable Gordon Brown Budgets that preached Ďfairnessí while listing endless new ways in which central government would intervene in every form of economic...
  • Rolling the Housing Dice, Again!

    01/12/2012 7:43:40 PM PST · by neverdem · 5 replies
    The American ^ | January 12, 2012 | Edward Pinto
    The alarm bells are now ringing for the Federal Housing Administration, with delinquencies increasing. The immediate and pressing issue is the safety and soundness of the FHA today and the risk it poses to the taxpayer. In a paper entitled ‚ÄúToo Early to Sound the FHA Alarm,‚ÄĚ the Center for American Progress (CAP) comes to the defense of the Federal Housing Administration (FHA), the troubled federal housing entity. In doing so, CAP sounds eerily similar to Representative Barney Frank‚Äôs position regarding Fannie Mae and Freddie Mac in 2003: ‚ÄúI do think I do not want the same kind of focus...
  • Obama's Lilliputian Legacy

    11/14/2011 10:41:00 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | November 14, 2011 | Lurita Doan
    Obama is a national embarrassment and each day proves himself even more incapable of honestly confronting the nation’s urgent issues.  Just days ago, Americans were once again left gob-smacked as Obama beat the drums for the SAVE awards, his signature effort to cut the $1.4 trillion annual deficit.    This Obama initiative hopes to demonstrate the president’s commitment to fiscal sanity by cutting wasteful spending. The basic idea of the SAVE awards is a good one.  Federal employees are encouraged to identify and propose cost-saving ideas and to finger poorly performing programs that should be cut.  With an almost $4 trillion...
  • If You Like Obamaís Economic Team, Youíll Love Romney's...

    09/07/2011 7:53:13 PM PDT · by FreeKeys · 31 replies · 1+ views
    CATO@LIBERTY ^ | September 6, 2011 | Mark A. Calabria
    Just when you thought Keynesian economics was finally dead among Republicans, Mitt Romney announces two prominent New Keynesian academics, Greg Mankiw and Glenn Hubbard, as the heart of his economic team. So if you loved how Obama has managed to continue the flawed economics of the Bush administration*, youíll feel pretty safe with Romney. Sadly the real problem goes beyond Romney and Obama. The financial crisis and the governmentís response to it illustrate the failure of much of mainstream macroeconomics. Yes, the Romney team would have had its stimulus proposal tilted more toward temporary tax cuts, but it still would...
  • The Texas vs. California Example

    06/15/2011 8:58:09 PM PDT · by FreeKeys · 34 replies
    Real Clear Politics ^ | June 13, 2011 | Jay Ambrose
    So what example should America follow, that of deficit-slaughtering, budget-cutting, seriously limited government in Texas, which has added 730,000 jobs in the past decade, or that of regulation-happy, spend-mercilessly, owe-everything, flee-this-place-quickly California, which has lost 600,000 jobs during the same period? While not a hard question [...] let's continue to look at some astounding facts about Texas after noting a much-repeated analysis of how it got there. It has no state income tax, low corporate taxes, does just enough regulating to get the job done, cares for the environment without making a fetish of it, lets its legislature meet for...
  • On Green Energy: Italy and the Eco-Mafia - The Mafia like Ďgreen jobs,í but Italians shouldnít.

    06/12/2011 1:23:54 AM PDT · by neverdem · 4 replies
    The American ^ | May 26, 2011 | Kenneth P. Green
    Part of a series on ‚Äúgreen jobs‚ÄĚ in Europe, this article focuses on Italy. Italy has been another early European leader in wind and solar power deployment. But a study performed by Luciano Lavecchia and Carlo Stagnaro of Italy‚Äôs Bruno Leoni Institute found serious problems with the Italian experience; in particular, that capital spent on green energy was vastly less efficient at creating jobs.Finally, we have compared the average stock of capital per worker in the RES [Renewable Energy Sector] with the average stock of capital per worker in the industry and the entire economy, finding an average ratio...
  • On Green Energy: Renewable Energy Fails to Green the U.K. Economy

    04/19/2011 10:16:48 PM PDT · by neverdem · 9 replies
    The American ^ | April 15, 2011 | Kenneth P. Green
    Pursuing a new green energy economy in the United Kingdom has led to lost jobs and higher energy prices. President Obama, Vice President Joe Biden, Minority Leader Nancy Pelosi, and other political luminaries such as Arnold Schwarzenegger promise us a bright green future, but let’s look at how things have worked out in Europe, where green energy has been tested extensively. Does green energy lead to green jobs? This article is the second in a series that will look Europe’s experience. This time, we focus on the United Kingdom.Our Commonwealth cousins across the pond have also embraced the “green power...
  • California's best economic weapon? The weather

    04/14/2011 7:29:15 AM PDT · by freedombiz · 15 replies
    Orange County Register ^ | 4-14-11 | Jan Norman
    California ranks near the bottom on some studies that claim to measure the business climate, yet the stateís economic growth is about the same as the nationís from 1978 to 2008. Why? some researchers at the Public Policy Institute of California in San Francisco wondered. PPIC found, in a study of 11 major state rankings, that the ones that measure productivity and quality of life have little relationship to a stateís economic growth. The rankings that measure taxes and the cost of doing business do correlate somewhat to a stateís job and wage growth. But get this: ďThe factors that...
  • Ryan Takes the Battle to Obama

    03/21/2011 7:44:06 AM PDT · by Mary Kochan · 21 replies
    Catholic Lane ^ | 3/21/11 | G. Tracy Mehan, III
    ďThe Congressional Budget Officeís report exposes the widening gulf between the Presidentís rhetoric and his budgetís reality,Ē said Ryan. ďSimply put, the Presidentís budget spends too much, taxes too much, and borrows too much-and it continues to heap an unsustainable burden of debt on American families, today and in the future.Ē
  • Cap-and-Trade by Any Other Name Ö

    01/15/2011 6:47:03 PM PST · by neverdem · 4 replies
    The American ^ | January 4, 2011 | Kenneth P. Green
    Renewing the threat: those in Congress smart enough to reject cap-and-trade should be smart enough to reject it again, even if it is couched in different language. Now that cap-and-trade (emission trading to reduce greenhouse gas emissions) is more or less off the table, our politicians are starting to talk about something else‚ÄĒor, at least, something that looks like something else.There are various names for this alternative scheme, from renewable energy portfolio standards to clean energy standards to green energy standards. All of them basically involve the same thing: the government mandates that a certain percentage of electricity that utilities...
  • Six Million Pigs

    07/12/2010 8:33:26 AM PDT · by timesthattrymenssouls · 24 replies · 1+ views
    Constitutional Guardian ^ | July 12, 2010 | Nancy Tengler
    In September 1933, the Agriculture Adjustment Administration in an effort to raise the prices of commodities slaughtered six million young pigs. With unemployment hovering at 22.9%, the homeless numbers rising each day, in the middle of the Great Depression, Franklin Roosevelt's economic policy to drive up prices in order to help the farmer resulted in the slaughtering of six million pigs. Never mind that millions of Americans went to bed hungry each night, six million pigs were sacrificed to the economic experiment of FDR and his advisers. Not only did the poor and hungry not get to eat those pigs,...
  • Time to Spread the Manure

    07/08/2010 7:41:42 AM PDT · by timesthattrymenssouls · 1 replies
    Constitutional Guardian ^ | July 8, 2010 | Nancy Tengler
    "Money, pardon the expression, is like manure. It's not worth a thing unless it's spread around, encouraging young things to grow." Dolly Levi in Hello Dolly! It's true. Growth is good. Growth is what has distinguished America over the centuries. It is also true redistribution is bad. Redistribution is what defined the failed Soviet Union. Dividing up an increasingly smaller pie doesn't take you very far. Dolly Levi knew it. John F. Kennedy and Ronald Reagan knew it. So did ole Silent Cal Coolidge. Now would someone please tell Mr. Obama and Ms. Pelosi? Mr. Obama's redistributionist tendencies were well...
  • Baumolís Solution to the Baumol Effect (Medicine & skilled labor has more inflation.)

    09/10/2009 8:29:16 PM PDT · by neverdem · 4 replies · 449+ views
    The American ^ | September 10, 2009 | Tim Worstall
    Increasing productivity in healthcare is difficult but not impossible. Here's how. The president tells us that we should be ‚Äúbending the cost curve‚ÄĚ on healthcare, and politicans everywhere are scrambling to present their favored pork projects as plans that would do just that. Lobbyists of every stripe and color are storming legislative offices with great wads of dead presidents and the commentariat debates angels dancing upon pinheads: that is, what could be done if we had a legislative system without legislators, pork, lobbyists, or dead presidents printed on pieces of paper.What I have yet to see (and apologies to those...
  • Industrial Policy or Economic Democracy?

    08/31/2009 5:49:42 PM PDT · by Delacon · 1 replies · 665+ views
    The Independent Institute ^ | Aug 31, 2009 | Randall Holcombe
    Japanís historic election Sunday gave the Democratic Party an overwhelming victory over the Liberal Democrats that have dominated Japanís government for 55 years.† The Liberal Democrats oversaw Japanís industrial policy that supported Japanís dominant firms during Japanís rise as a major economic power during the 1960s, 70s, and 80s.† Indeed, many American economists argued the U.S. should do more to emulate Japanese industrial policy and have the government actively involved in supporting dominant corporations to enhance their international competitiveness.American support for industrial policy, where the government actively picks the winners in economic competition, died off in the 1990s when the...
  • Obama Enraging Enemies And Alienating Allies

    05/27/2009 9:47:30 AM PDT · by Michael Eden · 22 replies · 779+ views
    Start Thinking Right ^ | May 27, 2009 | Michael Eden
    Remember how the left kept screeching that Bush had alienated our allies and enraged our enemies? Remember how they said that Barack Obama would make the world love us again? Well, the Democrats get to wear their soiled underwear over their own heads, now. Because now we get to see on a nearly daily basis just how truly full of pure partisan garbage they have been for years. N. Korea Says It Conducted 2nd Nuclear TestSEOUL, South Korea ó North Korea announced Monday that it successfully carried out a second underground nuclear test, less than two months after launching a...
  • The Most Transparent Administration

    05/12/2009 7:28:42 AM PDT · by UnknownVariable · 5 replies · 798+ views
    One Conservatice Voice ^ | 5/11/2009 | ALD
    I happen to go to recovery.gov today and saw a chart of the jobs planned to be created or "saved" - they plan to create or "save" 106,000 jobs in Georgia. Not 105,000 and not 107,000 - precisely 106,000. How could their planning possibly be so precise? After staring at the data for a few minutes, I realized the terrible truth. California - 396,000 Texas - 269,000 New York - 215,000 Florida - 206,000 Illinois - 148,000 Pennsylvania - 143,000 Ohio - 133,000 Michigan - 109,000 Georgia - 106,000 North Carolina - 105,000 Do you see the pattern? Pull 3,500,000...
  • Czech PM does not regret Ďroad to hellí row (criticizing Zero's economic policy)

    05/07/2009 3:15:19 AM PDT · by TigerLikesRooster · 7 replies · 1,271+ views
    FT ^ | 05/07/09 | Tony Barber
    Czech PM does not regret Ďroad to hellí row By Tony Barber in Prague Published: May 7 2009 08:55 | Last updated: May 7 2009 08:55 Mirek Topolanek, the outgoing Czech prime minister, says he has no regrets about condemning US economic policies as a potential ďroad to hellĒ in spite of the deep embarrassment his remarks caused the European Union. In an interview with the Financial Times, he also said that, if he could have done one thing differently during the four months he steered the EUís affairs, it would have been to rein in the free-ranging Middle East...
  • Watch as I pull $750 billion out of my hat

    04/14/2009 12:48:34 PM PDT · by UnknownVariable · 2 replies · 262+ views
    oneconservativevoice.blogspot.com ^ | Tuesday, April 14, 2009 | ALD
    The US and Europe were widely expected to clash at the G-20 summit in London last month over how to address the global financial crisis. Voila, in just two days the problem was solved with a joint promise to increase IMF resources by $750 billion to a total of $1 trillion. The US portion of this new commitment is more than $140 billion. Yet Congress has debated neither the amount nor the proposed use of the funds. Instead, Obama and his fellow leaders simply waved their hands like a Star Trek captain and said make it so.
  • On the Urgency of Restructuring Bank and Mortgage Debt, and of Abandoning Toxic Asset Purchases

    03/30/2009 1:21:49 PM PDT · by batter · 2 replies · 408+ views
    Hussman Funds Market Comment ^ | 30 March 2009 | John P. Hussman
    ***The following are excerpts. It is far better to read the entire commentary (long but good). The graph is scary - it will make sense if you read the whole commentary .*** Last week, the U.S. Treasury Secretary advanced two proposals; one was a call for regulatory reform that is absolutely essential to the resolution of the current financial crisis. The other was a recipe for the insolvency of the FDIC, which would squander public funds to subsidize private speculation in troubled mortgage securities. [snip] Indeed, the only way for the toxic asset sale to increase shareholder equity is if...
  • White House, Democrats reach deal on $15 billion auto aid

    12/05/2008 6:51:40 PM PST · by george76 · 163 replies · 3,050+ views
    yahoo ^ | Dec 5, 2008 | Thomas Ferraro
    Democratic leaders and the White House reached a deal to provide billions of dollars in relief to the ailing U.S. auto industry... The package, which Democratic leaders hope to win passage of next week and send to President George W. Bush, totals between $15 billion and $17 billion
  • New Post Created To Advise Biden On Economy

    12/05/2008 6:22:51 PM PST · by Diana in Wisconsin · 19 replies · 975+ views
    All Headline News ^ | December 5, 2008 | Kris Alingod
    Washington, D.C. (AHN) - Vice President-elect Joe Biden on Friday announced the creation of a new post under his office, and the appointment of pro-labor economist Jared Bernstein, to help the incoming administration fix the economy.Bernstein will serve as chief economist and economic policy adviser to the Vice President. His appointment comes the same day the Labor Department said the economy lost the most jobs in 34 year, and the same week as the the National Bureau of Economic Research officially announced that the U.S. economy has been in recession since December 2007. "Jared Bernstein is an acclaimed economist, and...
  • FDR's Folly: How Roosevelt and His New Deal Prolonged the Great Depression

    11/25/2008 5:29:06 PM PST · by antonia · 16 replies · 1,487+ views
    http://www.amazon.com ^ | 2003 | Jim Powell
    FDR's Folly: How Roosevelt and His New Deal Prolonged the Great DepressionBy Jim Powell What the Critics Say: " Very readable, factual, and insightful - and endorsed by two Nobel Prize-winning economists." (Thomas Sowell, Senior Fellow, Hoover Institution, Stanford University)Think FDR was a great president? Think again. In the minds of historians and the American public alike, Franklin Delano Roosevelt was one of our greatest presidents, not least because he supposedly saved America from the Great Depression. But as historian Jim Powell reveals in this groundbreaking book, Roosevelt's New Deal policies actually prolonged and exacerbated the economic disaster, swelled the...
  • OBAMA MAY DELAY TAX-CUT ROLLBACK

    11/23/2008 9:25:12 AM PST · by Lancey Howard · 82 replies · 2,272+ views
    Reuters via Comcast ^ | November 23, 2008 | Randall Mikkelsen
    President-elect Barack Obama may consider delaying a campaign promise - to roll back tax cuts on high-income Americans - as part of his economic recovery strategy, two aides said on Sunday. David Axelrod, the Obama campaign strategist who was chosen to be a senior White House adviser, was asked if the tax cuts could be allowed to expire on schedule after tax year 2010 rather than being rolled back by legislation earlier. "Those considerations will be made," he said on "Fox News Sunday." Bill Daley, an adviser to Obama and commerce secretary under former President Bill Clinton, said on NBC's...
  • Financials need at least $1 trillion: analyst

    11/20/2008 9:12:06 AM PST · by tired1 · 40 replies · 602+ views
    Rueters ^ | Thu Nov 20, 2008 | Editor
    The U.S. financial system still needs at least $1 trillion to $1.2 trillion of tangible common equity to restore confidence and improve liquidity in the credit markets, Friedman Billings Ramsey analyst Paul Miller said. The bulk of the capital will have to come from the U.S. government, Miller said. The government needs to take the initial steps to begin the process, and private capital and earnings can finish the job. "The quicker the government acts, the sooner the financial system can work through its current problems and begin to supply credit again to the economy," he said.
  • Obama Hears a Giant Sucking Sound

    11/19/2008 12:39:32 PM PST · by re_tail20 · 3 replies · 1,209+ views
    The Wall Street Journal ^ | November 19, 2008 | Holman W. Jenkins, Jr.
    His friends advise Barack Obama to launch a "New" New Deal. Maybe that's because the old New Deal is sinking fast. Mr. Obama's one deeply false note during the campaign was his harping on "deregulation" as if that were the source of current troubles. His real problem is the crack-up of the world FDR built.
  • When Did We All Become Serfs?

    11/18/2008 4:51:09 AM PST · by history_48 · 12 replies · 746+ views
    Modern Conservative ^ | November 17, 2008 | Gina L. Diorio
    by Gina L. DiorioSixty-four years ago, economist, political philosopher, author, and professor F.A. Hayek published his classic political discourse, The Road to Serfdom. Written, in Hayek‚Äôs own words, as ‚Äúa duty which I must not evade,‚ÄĚ the work stands as a timeless warning of the dangers of believing one can exchange freedom for security while simultaneously preserving liberty.‚ÄúIt was in no spirit of mockery,‚ÄĚ Hayek writes in his preface to the 1956 edition, ‚Äúthat I dedicated it ‚ÄėTo the Socialists of All Parties.‚Äô It had its origin in many discussions which, during the preceding ten years, I had with friends...
  • Rangel And Reality

    11/17/2008 6:01:46 PM PST · by Kaslin · 7 replies · 701+ views
    IBD Editorials ^ | November 17, 2008
    Fiscal Policy: With liberal Democrats set to run Washington, you'd expect big tax-increase talk. But House Ways and Means Committee Chairman Charles Rangel doesn't want a depression with his name on it.Three years ago, when the economy was booming under Republican governance of both the White House and Congress, veteran Harlem congressman Rangel accused President Bush of "destroying the fabric of America with a combined policy of war, tax cuts for the wealthy, and reductions in spending for domestic needs." Now, when the Democrat-dominated 111th Congress begins in January, and Rangel resumes his chairmanship of the panel from which all...
  • The Worst Is Not Behind Us

    11/13/2008 4:52:38 PM PST · by Comparative Advantage · 92 replies · 2,736+ views
    Forbes ^ | 11.13.08 | Nouriel Roubini
    It is useful, at this juncture, to stand back and survey the economic landscape--both as it is now, and as it has been in recent months. So here is a summary of many of the points that I have made for the last few months on the outlook for the U.S. and global economy, as well as for financial markets: --The U.S. will experience its most severe recession since World War II, much worse and longer and deeper than even the 1974-1975 and 1980-1982 recessions. The recession will continue until at least the end of 2009 for a cumulative gross...
  • HUNTER: Obama's golden opportunity

    11/12/2008 4:50:54 PM PST · by ari-freedom · 17 replies · 556+ views
    The Washington Times ^ | November 9, 2008 | Lawrence Hunter
    COMMENTARY: The worldwide economic crisis presents President-elect Barack Obama with a golden opportunity to establish his leadership bone fides preemptively before the anticipated foreign challenge comes to test his mettle as a leader. As the world's leaders prepare a summit to discuss establishing a new "global financial architecture," the president-elect should forestall efforts by European leaders to give him a bum's rush down the path toward global governance and strip the United States of its economic sovereignty. He can do so by launching his presidency with a legacy-making initiative that would hit the reset button on the economy and restore...
  • Obama's prime-time ad skips over budget realities

    10/30/2008 10:31:09 AM PDT · by AngelesCrestHighway · 12 replies · 476+ views
    Yahoo News ^ | October 29,2008 | CALVIN WOODWARD
    WASHINGTON Ė Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office. Obama's assertion that "I've offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don't work" masks his failure throughout the campaign to specify what those programs are ó beyond the withdrawal of troops from Iraq. A sampling of what voters heard in the ad, and what he didn't tell them:...
  • Sources: Gov't prepares loan modification plan

    WASHINGTON (AP) -- The government is considering a plan that would help around 3 million homeowners avoid foreclosure, sources briefed on the matter said. A final deal had not been reached as of Wednesday afternoon and negotiations could still fall apart, but government agencies were contemplating using around $50 billion from the recently passed bailout of the financial industry to guarantee about $500 billion in mortgages. The plan could include loan modifications that would lower interest rates for a five-year period, according to two people briefed on the plan, who asked not to be identified because details were still being...
  • THE RICH SUPPORT MCCAIN, THE SUPER-RICH SUPPORT OBAMA

    10/29/2008 11:37:46 AM PDT · by RedMominBlueState · 11 replies · 556+ views
    The Wall Street Journal ^ | October 13, 2008 | Robert Frank
    In Richistan, I wrote about a new political divide emerging among the wealthy. While most Lower Richistaniís ($1 million to $10 million in net worth) were voting Republican, most Middle-and Upper Richistanis (those worth $10 million plus and $100 million plus) were voting Democrat...
  • Fed cuts key interest rate half-point to 1 percent

    10/29/2008 11:35:58 AM PDT · by NormsRevenge · 14 replies · 582+ views
    AP on Yahoo ^ | 10/29/08 | Martin Crutsinger - ap
    <p>WASHINGTON Ė The Federal Reserve has slashed a key interest rate by half a percentage point as it seeks to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.</p> <p>The central bank on Wednesday reduced its target for the federal funds rate, the interest banks charge on overnight loans, to 1 percent, a low last seen in 2003-2004. The funds rate has not been lower since 1958, when Dwight Eisenhower was president.</p>
  • Taxing the self-employed - the Swedish Model (Soon to be the U.S. Model?)

    10/18/2008 10:38:18 AM PDT · by trueamerica · 9 replies · 899+ views
    Astrid Lindgren ^ | 1976 | Astrid Lindgren
    In 1976, a scandal arose in Sweden when marginal tax rate for self-employed was 102%. Yes, 102%!!! It is not a typo. This was to be known as the "Pomperipossa effect" from a story published on March 3, 1976. The publication led to a stormy tax debate. In the parliamentary election later in the same year the Social Democrat government was voted out for the first time in 40 years, and the tax debate was one of several controversies that may have contributed to the election result.
  • Americans Oppose Income Redistribution to Fix Economy (84% to 13%)(Gallup Poll June 2008)

    10/16/2008 9:59:11 PM PDT · by A_Niceguy_in_CA · 31 replies · 912+ views
    Gallup, Inc. ^ | June 27, 2008 | Dennis Jacobe
    Americans Oppose Income Redistribution to Fix Economy by Dennis Jacobe, Chief EconomistPRINCETON, NJ -- When given a choice about how government should address the numerous economic difficulties facing today's consumer, Americans overwhelmingly -- by 84% to 13% -- prefer that the government focus on improving overall economic conditions and the jobs situation in the United States as opposed to taking steps to distribute wealth more evenly among Americans.Lack of Support for Wealth Redistribution Spans Political Party, Income GroupsAmericans' lack of support for redistributing wealth to fix the economy spans political parties: Republicans (by 90% to 9%) prefer that the government...
  • Obama & The Pelosicrats Have Great Depression Nostalgia

    10/16/2008 12:17:48 PM PDT · by foutsc · 3 replies · 280+ views
    Nietzsche is Dead ^ | 16 Oct 08 | foutsc
    God bless those Democrats. They're so nostalgic. This is not a new Great Depression, but if we all try hard enough, we can make it one! They long to take us back to yesteryear, when financial collapse ushered in an era of solidarity and equality. We were all in this together. All together in the crapper, but we were all together. Ah, what a time it was: Hobos huddled around open fires down at the rail yard, bankers were jumping out of windows, and we spent more time at home with family because we had no money to feed our...
  • Shame Trade (The U.S. is on the verge of electing the most anti-trade, pro-union candidate ever.)

    10/16/2008 6:40:08 AM PDT · by St. Louis Conservative · 7 replies · 600+ views
    National Review ^ | October 16, 2008 | Stephen Spruiell
    This election is not going to be won or lost on trade. Compared to the banking crisis and the wars we are fighting, trade is a distant concern in the publicís mind. When Americans do think about trade, polls show that a majority think it kills jobs and generally hurts the country. This only goes to show that a handful of bloviators can be more influential than a consensus of Nobel Prize-winning economists. Indeed, even the most recent winner of the Prize once wrote, ďA country serves its own interests by pursuing free trade regardless of what other countries may...
  • Obamaís Tax Cut is Actually a Spending Increase, Says Non-Partisan Group

    10/15/2008 1:01:31 PM PDT · by pissant · 7 replies · 852+ views
    CNS ^ | 10/15/08 | Matt Cover
    (CNSNews.com) Ė Democratic presidential candidate Barack Obamaís plan to cut taxes on 95 percent of taxpayers would effectively increase government spending by an average of $64.8 billion a year and effectively raise income tax rates for many Americans, even on some earning $20-$50,000 per year, according to the non-partisan Tax Policy Center. The heart of Obamaís tax cut proposal is in his use of refundable tax credits, which the Center describes as ďcredits available to eligible households even if they have no income tax liabilityĒ -- in short, refunds available even to those who donít pay taxes. These refunds are...
  • Obama's 95% Illusion

    10/14/2008 4:59:40 PM PDT · by WesA · 10 replies · 949+ views
    One of Barack Obama's most potent campaign claims is that he'll cut taxes for no less than 95% of "working families." He's even promising to cut taxes enough that the government's tax share of GDP will be no more than 18.2% -- which is lower than it is today. APIt's a clever pitch, because it lets him pose as a middle-class tax cutter while disguising that he's also proposing one of the largest tax increases ever on the other 5%. But how does he conjure this miracle, especially since more than a third of all Americans already pay no income...
  • McCain rolls out new economic proposals

    10/14/2008 2:57:07 PM PDT · by TheNewPundit · 3 replies · 448+ views
    MarketWatch ^ | 10/14/2008 | Robert Schroeder
    WASHINGTON (MarketWatch) -- Sen. John McCain rolled out new economic proposals aimed at seniors, investors and the unemployed on Tuesday, a day before he was to face Sen. Barack Obama in the final presidential debate and markets staged recoveries on the heels of a new government plan to buy stakes in the largest U.S. banks.
  • McCain would guarantee all savings for 6 months (Cap Gains Cut to 7.5%)

    10/14/2008 1:03:59 PM PDT · by Fred · 5 replies · 641+ views
    BreitBart ^ | 101408 | BreitBart
    BLUE BELL, Pa. (AP) - Republican presidential candidate John McCain on Tuesday proposed a $52.5 billion economic plan that would eliminate taxes on unemployment benefits and cut the capital gains tax while warning voters about taking a chance on Democratic rival Barack Obama. "Perhaps never before in history have the American people been asked to risk so much based on so little," McCain said of his opponent during a speech at a community college in this Philadelphia suburb. McCain also promised that as president he would order the Treasury Department to guarantee 100 percent of all savings for six months....
  • McCain's Economic Proposals ( outlined in Pennsylvania today)

    10/14/2008 9:45:05 AM PDT · by Ernest_at_the_Beach · 50 replies · 2,308+ views
    RealClearPolitics ^ | October 14, 2008 | BLAKE DVORAK
    Some of McCain's economic proposals he outlined in Pennsylvania today: * Suspend rules mandating that investors must begin to sell off their IRAs and 401(k)s when they reach 70 1/2 years old. * Cut the tax rate for retirement-account withdrawals to 10%. * Reduce the tax rate on capital gains to 7.5%. * Reduce the reduce the federal business tax rate from 35% to 25%. * Eliminate taxes on unemployment benefits. As for rhetoric, this passage stands out: This weekend, a plumber concerned that Senator Obama was going to raise his taxes asked him directly about his plan. The response...