http://www.freerepublic.com/tag/economy/ en-us Fri, 25 Jul 2008 19:47:56 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2051335/posts If you believe as I do that the tax hikes proposed by Barack Obama and Democrats are bad for the country, then we are in good company. No less an authority than Nobel Prize winner and Columbia University economist Robert Mundell, a principal contributor to the creation of the euro, says that ending the Bush tax cuts — as proposed by presumptive Democratic presidential nominee Barack Obama — would cause "a big recession, a nosedive." In an interview with The Wall Street Journal, Mundell said, "the most important thing that could be done with respect to tax rates is to... The National Ledger http://www.freerepublic.com/focus/f-news/2051335/posts#comment Fri, 25 Jul 2008 19:47:56 GMT http://www.freerepublic.com/focus/f-chat/2051249/posts When I was a young woman married to a Delta Airline pilot - there was a great story that went around Coweta County, Georgia. A veterinarian told it to me. The story went: ‘”what are the two most dangerous things in rural Georgia?” The answer: an out-of-control loaded pulp wood truck careening down hill, and … a pilot in search of an investment. In the 70s, airline pilots with Delta or Eastern often lived in rural Coweta, Carroll or other Georgia boonies outside of Atlanta. Some pilots and airline personnel, at that time, made a good bit more money than... Stiff Right Jab http://www.freerepublic.com/focus/f-chat/2051249/posts#comment Fri, 25 Jul 2008 17:22:51 GMT http://www.freerepublic.com/focus/f-news/2051241/posts Unexpected Climb in Workplace Fatalities Sparks Search for Causes by Unions, Firms At a time when steel mills in the U.S. are running flat out to meet increasing demand, the steel industry is trying to unravel the causes of on-the-job accidents that resulted in more deaths in the first half of 2008 than in recent full years. . . . Officials at the United Steelworkers, which is negotiating labor contracts with U.S. Steel Corp. and ArcelorMittal, contend that pressure to boost steel output while the market is strong has led to some fatalities . . . The Wall Street Journal http://www.freerepublic.com/focus/f-news/2051241/posts#comment Fri, 25 Jul 2008 17:15:35 GMT http://www.freerepublic.com/focus/f-news/2051235/posts H.R. 3221*, the American Housing Rescue and Foreclosure Prevention Act of 2008, was passed by the House 272-152 on Wednesday, July 23, 2008. (*The government website may not yet be updated following yesterday’s vote.) The Senate is expected to vote on the housing bill on July 25th or 26th. Enactment of this legislation would be a victory for socialism and big government, but a travesty for U.S. taxpayers and limited government. This one-time energy bill was transformed into a vehicle for mortgage foreclosure prevention, then very recently revised again to include plans for preventing the failure of Fannie Mae and... Stiff Right Jab http://www.freerepublic.com/focus/f-news/2051235/posts#comment Fri, 25 Jul 2008 17:10:41 GMT http://www.freerepublic.com/focus/f-bloggers/2051077/posts Here's a great example of Unvarnished Liberal Crap, courtesy of the Los Angeles Times: Working Without a Net, by Peter Gosselin. This good man bleeds his heart out for the American family who, despite historic prosperity, still must cope with *Gasp!* risk. My fiskers are out, so let's break it down.Working Americans and their families arrived on the doorstep of the current economic crisis uniquely ill-equipped to cope with its consequences. Rather than having gained a financial protective coating during the period of growth that preceded it, working families up and down the income spectrum were actually nudged further out... Nietzsche is Dead http://www.freerepublic.com/focus/f-bloggers/2051077/posts#comment Fri, 25 Jul 2008 12:15:45 GMT http://www.freerepublic.com/focus/f-news/2051069/posts n equities, moving the interest yield on the U.S. Treasury 10-year note to more than 4 percent. The dollar has been strengthening, too, relative to overseas currencies. Also improving the long-term outlook on Wall Street are better second-quarter corporate earnings reports that showed many companies were doing better than expected. McDonald's, AT&T and Pfizer reported upbeat earnings that signaled there's still a lot of resilience in the U.S. economy. Even the financials were showing some life at midweek, despite the credit and mortgage debacle. Wells Fargo and troubled Wachovia, the nation's fourth-largest bank, saw its stocks jump significantly. Even so,... Townhall.com http://www.freerepublic.com/focus/f-news/2051069/posts#comment Fri, 25 Jul 2008 12:03:42 GMT http://www.freerepublic.com/focus/f-news/2051122/posts The federal minimum wage rose by 70 cents yesterday to $6.55 per hour, and left-wing advocates are celebrating the increase as a boon for the so-called working poor. Not to be party poopers, but the reality is that most poor people in the U.S. already earn more than the minimum wage, and most workers who do earn the minimum wage aren't poor. The wage hike is the second of three annual increases mandated by a 2007 law. Next year the federal wage floor will rise to $7.25. This year's increase will touch some 1.5 million workers, in a workforce numbering... Wall Street Journal http://www.freerepublic.com/focus/f-news/2051122/posts#comment Fri, 25 Jul 2008 13:23:48 GMT http://www.freerepublic.com/focus/f-vetscor/2051033/posts Cannot post due to copyright issues: http://www.usatoday.com/money/smallbusiness/2008-03-03-veterans-franchises_N.htm USA Today http://www.freerepublic.com/focus/f-vetscor/2051033/posts#comment Fri, 25 Jul 2008 08:32:25 GMT http://www.freerepublic.com/focus/f-bloggers/2050967/posts Media sources such as CNN, and also several questionable academics have come out with a multi-pronged attack on John McCain's knowledge of the "Information Economy" this week. Amongst those is a media professor from American University named Steinhorn Comments By L. Steinhorn, Prof of Communications Steinhorn claims that McCain's funny syllogism of "A Google", his desire to avoid email, and lack of a MySpace webpage prove that McCain does not understand the Information Economy. He points to Barrack Obama's use of YouTube and MySpace to win over young voters as proof that he understands modern economics. This is false on... My Space Blogs http://www.freerepublic.com/focus/f-bloggers/2050967/posts#comment Fri, 25 Jul 2008 03:13:56 GMT http://www.freerepublic.com/focus/f-bloggers/2050906/posts The one thing we can credit liberals for is their very creative minds. They have this ability to imagine whimsically how the world can be refashioned to suite their various constituencies and accompanying agendas. In all of these lofty goals liberals are extremely adept at selling a goal by glossing over the negative consequences of their advocacy. In glossing over the negatives, they sell the goal as having magical abilities to solve all kinds of problems, in the real world we call this a panacea. Panaceas are born of wishful thinking by people who lack the ability, knowledge, skill or... Publius' Forum http://www.freerepublic.com/focus/f-bloggers/2050906/posts#comment Fri, 25 Jul 2008 00:42:00 GMT http://www.freerepublic.com/focus/f-bloggers/2050729/posts * The economy is by far the No. 1 issue on most Americans' minds. Gas prices are a close second. The two issues are intimately related. But the spike in oil prices this year is just the tip of the iceberg. Due to similar developments in supply and demand, electricity prices are set to skyrocket next year. While American oil consumption has grown only 15% since 1973, electricity use has shot up 115%. Right now the U.S. has 760 gigawatts of power to meet consumption. We will need 135 gigawatts of new capacity over the next decade to keep the... The Foundary at The Heritage Foundation http://www.freerepublic.com/focus/f-bloggers/2050729/posts#comment Thu, 24 Jul 2008 19:58:34 GMT http://www.freerepublic.com/focus/f-news/2050595/posts NEW YORK, July 22 (Reuters) - Moody's Investors Service on Tuesday said it may cut its ratings on Washington Mutual Inc.'s senior unsecured debt into junk territory, after the largest U.S. savings and loan posted a $3.33 billion second-quarter loss. The net loss equaled $6.58 per share as souring mortgages forced it to set aside more money for loan losses. "WaMu's asset quality issues primarily relate to the company's residential mortgage portfolio, but deterioration is also being experienced in the company's credit card portfolio," Moody's said in a statement. "To establish the necessary provisioning for this asset quality deterioration, Moody's... Reuters http://www.freerepublic.com/focus/f-news/2050595/posts#comment Thu, 24 Jul 2008 15:58:27 GMT http://www.freerepublic.com/focus/f-news/2050450/posts Knowing of your interest in addressing rising energy prices, I want to share with you some thoughts on the current energy situation. There is so much we can do, and I will continue working hard in Congress to lower the cost of gasoline through effective and safe measures. When I came to Congress 14 years ago one of the many issues I began to work on was the critical issue of energy supply. America’s economy was growing and with it was the demand for fuel. At the same time, nations like China and India were throwing off the shackles of... email http://www.freerepublic.com/focus/f-news/2050450/posts#comment Thu, 24 Jul 2008 12:01:50 GMT http://www.freerepublic.com/focus/f-news/2050408/posts NEW YORK (Reuters) - Commodity markets slumped broadly Wednesday, dragged by crude oil prices that dropped below $125 a barrel after the government reported a big rise in gasoline stocks, suggesting high pump prices were hitting U.S. fuel usage. Gold prices sank almost 3 percent while industrial metals such as aluminum and copper tumbled to five-week lows. Soybeans and wheat fell, giving back most of Tuesday's rebound. Corn slumped too as investors fretted about demand for biofuel products that had until June enjoyed a boom competing with the rally in oil. The broad sell-off pushed the Reuters-Jefferies CRB index ,... Reuters Via Forbes http://www.freerepublic.com/focus/f-news/2050408/posts#comment Thu, 24 Jul 2008 07:26:23 GMT http://www.freerepublic.com/focus/f-news/2050296/posts WASHINGTON -- The competing tax plans laid out by Sens. Barack Obama and John McCain would both add trillions of dollars to the national debt and could add to the tax system's complexity, a nonpartisan tax research group concluded Wednesday in a newly released report. Both campaigns have asserted that their plans to continue many Bush-era tax cuts and offer new reductions would aid the economy without requiring massive new spending. But the Washington-based Tax Policy Center warned that under either candidate, "the debt would likely continue to rise as it has over the past eight years." Obama's plan --... The Los Angeles Times http://www.freerepublic.com/focus/f-news/2050296/posts#comment Thu, 24 Jul 2008 01:51:07 GMT http://www.freerepublic.com/focus/f-religion/2050285/posts The Chosen “Grandpa Abyssal, what did he mean today at Synagogue, that the Jews are the chosen? Chosen for what? What were we chosen to do?” “Ahh, Chaadrean, that is a long story. We would have to venture far, far out into the future to try to see that clearly. It is too late now. I came up here to tell you that your light was supposed to be off fifteen minutes ago. If your mother sees your light on, there will be trouble…. Now go to sleep!” “But grandpa! Deep religious questions are torturing my mind, they will not... my writing http://www.freerepublic.com/focus/f-religion/2050285/posts#comment Thu, 24 Jul 2008 01:28:21 GMT http://www.freerepublic.com/focus/f-news/2050248/posts Economy: Everyone agrees the economy's in the tank and headed for recession — if not already in one. The first quarter was weak, and the second quarter will be weaker, the argument goes. Hold on just one minute.We said in December 2007 that the economy's not in recession, that it has plenty of momentum that will be helped if the Fed aggressively cuts interest rates to keep the housing mess and high oil prices from dragging us into a downturn. No need to panic. So far, so good. To be sure, the first three months of this year were weak,... IBD Editorials http://www.freerepublic.com/focus/f-news/2050248/posts#comment Thu, 24 Jul 2008 00:16:14 GMT http://www.freerepublic.com/focus/f-news/2050072/posts 25 signs of insolvency. ... And what can't be paid back will be defaulted on. If you didn't know it before, you do now: The entire US banking system is insolvent. Minyanville http://www.freerepublic.com/focus/f-news/2050072/posts#comment Wed, 23 Jul 2008 18:42:40 GMT http://www.freerepublic.com/focus/f-news/2049983/posts Scientists at Columbia University are developing a carbon dioxide (CO2) scrubber device that removes one ton of CO2 from the air every day, says the Heartland Institute. While some see the scrubber as an efficient and economical way to reduce atmospheric carbon dioxide, many environmentalists oppose the technology because it allows people to use fossil fuels and emit carbon in the first place. According to Columbia University physicist Klaus Lackner, who is leading the research team: Producing a large number of CO2 scrubbers can keep to a minimum any rise in atmospheric CO2 without the economically painful elimination of inexpensive... ncpa.org http://www.freerepublic.com/focus/f-news/2049983/posts#comment Wed, 23 Jul 2008 15:58:33 GMT http://www.freerepublic.com/focus/f-news/2049989/posts What has changed since Golden State voters ousted Gov. Gray Davis and cast their lot with Arnold Schwarzenegger's star power? Not much -- except for $41 billion in new spending, says Investor's Business Daily (IBD). At a point when most state lawmakers and chief executives have put their budgets to bed, neatly balanced, and taken off for some R&R, the Legislature and governor of California are still wrangling over a budget that is roughly $15 billion out of balance. This is nothing new. We've been hearing about these budget gaps, delays and political standoffs since before the current governor took... ncpa.org http://www.freerepublic.com/focus/f-news/2049989/posts#comment Wed, 23 Jul 2008 16:08:10 GMT http://www.freerepublic.com/focus/f-news/2049920/posts Taylor used to be a player in Williamson County, with it and Georgetown vying for funds and the attention of passers-through. But no more, and despite what many city officials will tell you, it will not be a player unless something is done to counteract the rapid growth of surrounding communities. What needs to be done is, Taylor needs to forget its past and embrace something residents see as so vile, that when I first arrived here I thought its mere mention was a dirty word. I am speaking of Rick Perry’s Trans-Texas Corridor. The Texas Department of Transportation (another... The Taylor Daily Press http://www.freerepublic.com/focus/f-news/2049920/posts#comment Wed, 23 Jul 2008 13:54:30 GMT http://www.freerepublic.com/focus/f-news/2049738/posts I don't often start threads here, but this is IMPORTANT!! They're going to vote on this package tommorrow. The cost for bailing out Fannie, Freddie, and fools who got into mortgages they couldn't afford is going to be on OUR BACKS. Paulson, Dodd and others (bought and paid for by the investment banks and financial industry) are trying to shove this through ASAP. If this passes it will probably tank the bond market and the dollar, drive up interest rates as our debt becomes unpalatable to the rest of the world, and load even more debt on an already bankrupt... http://www.freerepublic.com/focus/f-news/2049738/posts#comment Wed, 23 Jul 2008 02:56:51 GMT http://www.freerepublic.com/focus/f-bloggers/2049603/posts Explaining the status of the economy to a closed-door fundraiser last week, President Bush said, "Wall Street got drunk." "There's no question about it," Bush said. "Wall Street got drunk, that's one of the reasons I asked you to turn off the TV cameras. It got drunk and now it's got a hangover. The question is how long will it sober up and not try to do all these fancy financial instruments." Bush made the remark at a closed-door fundraiser for Republican Pete Olson, who is challenging Rep. Nick Lampson (D-Texas) No cameras were allowed in the fundraiser, but an... EconomicPolicyJournal.com http://www.freerepublic.com/focus/f-bloggers/2049603/posts#comment Tue, 22 Jul 2008 22:11:15 GMT http://www.freerepublic.com/focus/f-news/2049535/posts When it comes to the workplace, they're facing the same troubles afflicting men. Across the country, women in their prime earning years, struggling with an unfriendly economy, are retreating from the workforce, either permanently or for long stretches. They had piled into jobs in growing numbers since the 1960s. But that stopped happening this decade, and as the nearly seven-year-old recovery gives way to hard times, the retreat is likely to accelerate. For the first time since the women's movement came to life, an economic recovery has come and gone, and the percentage of women at work has fallen, not... Star Tribune http://www.freerepublic.com/focus/f-news/2049535/posts#comment Tue, 22 Jul 2008 19:49:27 GMT http://www.freerepublic.com/focus/f-news/2049459/posts On the front page of Sunday’s Times, Gretchen Morgenson described Diane McLeod’s spiral into indebtedness, and now a debate has erupted over who is to blame. Some people emphasize the predatory lenders who seduced her with too-good-to-be-true credit lines and incomprehensible mortgage offers. Here was a single mother made vulnerable by health problems and divorce. Working two jobs and stressed, she found herself barraged by credit card companies offering easy access to money. Mortgage lenders offered her credit on the basis of the supposedly rising value of her house. These lenders had little interest in whether she could pay off... NYT http://www.freerepublic.com/focus/f-news/2049459/posts#comment Tue, 22 Jul 2008 17:19:44 GMT