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Keyword: economy

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  • U.S. Union Busting: Who’s Scarier, Scott Walker or ‘Jihadi John’?

    03/02/2015 12:15:56 AM PST · by Cincinatus' Wife · 21 replies
    NSNBC ^ | March 2, 2015 | Shamus Cooke
    When Wisconsin Governor Scott Walker compared labor unions to ISIS his audience cheered. At the end of the speech he got a standing ovation, reported FOX News in an article entitled “Walker draws standing ovation in CPAC address”. His wealthy audience hated labor unions that much. In fact, the 1% despises unions much more than they hate ISIS. Islamic extremists in the Syrian desert pose no threat to anyone in the U.S., while labor unions pose a direct threat to the profits of the super rich. Conversely, the average U.S. worker has much more to fear from Scott Walker than...
  • Warren dings Walker over comments on unions and ISIS

    03/01/2015 7:27:45 PM PST · by Beave Meister · 38 replies
    The Hill ^ | 2/28/2015 | Kevin Cirilli
    Warren, who is closely aligned with progressive union groups, ripped Walker in a tweet Saturday for what some saw as a comparison between union members and the Islamic State of Iraq and Syria: "If Scott Walker sees 100,000 teachers & firefighters as his enemies, maybe it's time we take a closer look at his friends.” In a speech at the Conservative Political Action Conference on Thursday, Walker said, “If I can take on 100,000 protestors, I can do the same across the world.” Walker, a possible 2016 presidential candidate for the GOP, tried to walk back his comments after his...
  • "NowCast" Shows GDP Crumbling

    03/01/2015 3:49:50 PM PST · by Kaslin · 27 replies
    Townhall.com ^ | March 1, 2015 | Mike Shedlock
    In the wake of existing home sales reports on Monday, and new home sales yesterday, GDP and residential investment forecasts came tumbling down. Check out the latest "GDP Nowcast" from the Atlanta Fed. "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 1.7 percent on February 26, down from 1.9 percent on February 18. The first-quarter nowcast for real residential investment growth fell from 11.1 percent to 2.3 percent following Monday's existing-home sales release from the National Association of Realtors and yesterday morning's releases on sales and construction costs of...
  • An economic riddle: Where are all the construction workers?

    02/28/2015 10:57:18 AM PST · by posterchild · 48 replies
    finance.yahoo.com ^ | Feb 27, 2015 | Michael Santoli
    The housing bust and Great Recession might have scared a generation of would-be construction workers away from the building trades. That’s the strong suggestion of some new research by the Federal Reserve, which explored why shortages of construction workers are emerging even as large numbers of people who seem good candidates for that type of work remain under-employed. A working paper by Fed economist Andrew Paciorek notes that construction employment growth has badly lagged the recovery in the labor market as a whole.
  • The First World War and the Costly Burden of Obamanomics

    03/01/2015 3:04:02 PM PST · by Kaslin · 4 replies
    Townhall.com ^ | March 1, 2015 | Daniel J. Mitchell
    What does World War I have to do with Obamanomics? ThereÂ’s no real connection, of course, but it did give me an opportunity to present a good analogy. At a conference in London last week, I was discussing with some folks the state of the American economy and the role of public policy.I was trying to explain whatÂ’s happened in the past few years, describing the avalanche of bad policy last decade, culminating with the faux stimulus in 2009 and the enactment of Obamacare in 2010.I then said that ObamaÂ’s efforts to impose further statism have been largely stymied, particularly...
  • Stock Run-up 3 Weeks Old, Experts Confused-- Investor Thread March 1, 2015

    03/01/2015 5:34:21 AM PST · by expat_panama · 37 replies
    Weekly investment & finance thread ^ | Mar. 1, 2015 | Freeper Investors
    [excerpt from Stock-market crash of 2016: The countdown begins]Dow will drop 50% as market replays 2008, 2000 and 1929.  That will translate into the DJIA crashing from today’s 18,117 down 50% to about 9,000. Ouch, the Dow crashing all the way below 10,000. Unimaginable. Bulls will hate it. No wonder our brains tune out, turn off. Instead, we prefer the happy talk that will just keep coming out of Wall Street and Washington till the 2016 collapse. We’ll just keep denying reality ... till it’s too late, and we suffer another $10 trillion loss is on the books. Deja...
  • Who killed at CPAC, the GOP's red meat 2016 auditions?

    03/01/2015 2:44:26 AM PST · by Cincinatus' Wife · 31 replies
    LA Times ^ | February 29, 2015 | Doyle McManus
    "...What was missing from CPAC? Any sign of the intellectual ferment in conservative think tanks about how to address the stagnant incomes of the American middle class. Most speakers stuck to more traditional fare: smaller government, lower taxes, less regulation. There are new ideas in the Republican Party, but this, it seems, was neither the time nor the place..."
  • Pope Francis: ‘Money Is the Devil’s Dung!’

    02/28/2015 11:15:22 PM PST · by 2ndDivisionVet · 83 replies
    Breitbart's Big Peace ^ | February 28, 2015 | Thomas D. Williams, Ph.D.
    In his address to the Italian Confederation of Cooperatives Saturday, Pope Francis employed muscular language in speaking about money — while acknowledging its importance to business. “Money,” he said, “is the devil’s dung.” “It is not easy to talk about money,” Francis said. Quoting Saint Basil the Great, the Pope said: “Money is the dung of the devil! When money becomes an idol, it rules over a person’s choices. And then it ruins a person and condemns him, turning him into a slave.” The Pope called for “creative imagination” to find new methods, attitudes and tools to combat the “culture...
  • OfficeMax call center in Peru reportedly closing (Town in Illinois)

    02/28/2015 8:19:46 PM PST · by 2ndDivisionVet · 12 replies
    The LaSalle News-Tribune ^ | February 26, 2015 | Staff
    An OfficeMax call center in Peru is closing its doors, beginning layoffs in March, according to two sources. Layoffs should be completed in November. A news story in 2013 indicated 275 people worked at the Peru facility. Employees on Thursday were instructed not to speak to the media about the layoffs. OfficeMax merged with Office Depot in 2013. As previously reported, the combined company disappointed state lawmakers by locating its headquarters in Boca Raton, Fla. (Office Depot’s longtime home) and pulling out of Naperville, where OfficeMax had been headquartered. OfficeMax workers have dealt with uncertainty about their jobs for the...
  • Greek Crisis Deepens

    02/28/2015 6:33:12 PM PST · by NRx · 25 replies
    The Telegraph ^ | 28 Feb 2015 | Ambrose Evans-Pritchard
    Greece's new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet Odysseus Elytis - voice of Eastward-looking Hellenism - honours the 200 note. The bills rise to 10,000 drachma, a wise precaution lest there is a hyperinflationary shock as Greece breaks out of its debt-deflation trap at high velocity. The amateur blueprints are a minor sensation in Greek artistic circles. They are only half in jest. Greece's Syriza radicals have signed a fragile ceasefire with the eurozone's creditor powers. Few think this can last as escalating...
  • This Billionaire Governor Taxed the Rich and Increased the Minimum Wage -- Now, His State's Economy

    02/28/2015 6:10:04 PM PST · by SendShaqtoIraq · 58 replies
    Huffington Post ^ | 02/28/15 | Carl Gibson
    "Minnesota's Governor raised the minimum wage, signed an equal pay act, and raised taxes on the rich to fund K-12 schools and higher education. Minnesota now has the 5th highest job growth in the nation and median income is $8,000 higher than the national average. By contrast, Governor Walker in the neighboring state of Wisconsin did the opposite: he gave the rich $2.1 billion in tax breaks, busted unions, and cut school funding more than any governor. Wisconsin now ranks 37th for job growth, median income is $800 below the national average, and the budget deficit is so large Walker...
  • Black Lives Matter needs the Black Panthers

    02/28/2015 5:05:25 PM PST · by 2ndDivisionVet · 30 replies
    Al Jazeera America ^ | February 28, 2015 | Deena Guzder
    The Panthers opposed not only police brutality but also the economic injustice of everyday life.Protests over police killings of unarmed African-Americans continue to erupt across the nation, largely thanks to the organizing efforts of the Black Lives Matter movement. As Black History Month draws to a close, it’s worth asking what the movement can learn from earlier organizing efforts — in particular, the Black Panther Party. Nearly 50 years ago, activists were demanding not only the recognition that black lives matter but also the right to black power. In October 1966, Huey Newton and Bobby Seale founded the Black Panther...
  • Pope Francis attacks 'throw-away' economic globalization

    02/28/2015 1:21:42 PM PST · by SkyPilot · 16 replies
    Reuters and Yahoo News ^ | 28 Feb 15 | James Mackenzie
    Pope Francis launched a fresh attack on economic injustice on Saturday, condemning the "throw-away culture" of globalization and calling for new ways of thinking about poverty, welfare, employment and society. In a speech to the association of Italian cooperative movements, he pointed to the "dizzying rise in unemployment" and the problems that existing welfare systems had in meeting healthcare needs. For those living "at the existential margins" the current social and political system "seems fatally destined to suffocate hope and increase risks and threats," he said. The Argentinian-born pope, who has often criticized orthodox market economics for fostering unfairness and...
  • Another Recession is on the way

    02/28/2015 9:43:53 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | February 28, 2015 | Mike Shedlock
    In 2006-2007 I called for a recession. We got a big one. I called for another one in 2011, as did the ECRI. That recession never happened. 50% is not a very good recession predicting track record except in comparison to consensus economic opinions that have never once in history predicted a recession. Consensus opinion is batting a perfect 0.00% Investigating the Record By the way, the ECRI was late in calling the recession of 2007. They still deny it. And questions regarding the 2001 recession and ECRI have still not been answered. I have talked about all of this...
  • Let's Talk Red Flags

    02/28/2015 9:54:41 AM PST · by Kaslin
    Townhall.com ^ | February 28, 2015 | Charles Payne
    The market has started to spin its wheels and that makes people nervous. I will lay out the red flags. I am not talking about the $18 trillion in government debt, the Fed's balance sheet, or the ticking time bomb of pensions, but trends that could arguably derail the stock market rally.Earnings are beating lowered estimates, but are yielding less than the twenty-year average. Sure, stock yields are attractive versus bond yields, but are they good enough to justify higher share prices? Here is the rub: consensus on earnings points lower and lower for this year, but it should reverse and...
  • The Song Remains the Same

    02/28/2015 9:05:03 AM PST · by Citizen Zed · 3 replies
    Eleven trillion dollars: that’s how much of so-called Quantitative Easing the world’s central banks have done since the 2008 crisis. To put that in perspective, with eleven trillion dollars you could pay off pretty much all U.S. household debt – all mortgages, all car and student loans, credit cards – you name it. So what did the global economy get for $11,000,000,000,000 in QE? Following a post-recession pop, we got collapsing world trade growth, and that’s even with prices falling over the past three to four years. Why is this happening? It’s not because this time around things are different....
  • What Do Conservatives Want For 2016? We Asked

    02/27/2015 1:17:47 PM PST · by 2ndDivisionVet · 7 replies
    National Public Radio ^ | February 27, 2015 | Amita Kelly
    Josh DiNatale (left) and Zachary Burns, St. Joseph's University students and members of their College Republicans chapter, get ready to pose for a photo with a cutout of Sen. Rand Paul at CPAC 2015. The Conservative Political Action Conference, held this week in Washington D.C., is prime time for 2016 Republican presidential hopefuls trying — yes, already — to win over a key part of their base. Former Gov. Jeb Bush, Sen. Ted Cruz, Ben Carson, Gov. Scott Walker and others paraded on and off the main stage, trying to fire up the crowd with their ideas for America's next,...
  • The Fed Waited Too Long: Here Comes Inflation

    02/27/2015 11:07:24 AM PST · by blam · 42 replies
    EcoMatters - TMO ^ | 2-27-2015 | EcoMatters
    EcoMatters February 26, 2015 CPI Core Shows Inflation The drop in energy prices, had the knee jerk reaction that we were in a deflationary spiral, again markets get many things wrong on first blush. The drop in energy prices is inflationary in the overall economy, and today`s CPI report showed what a sophisticated analysis would forecast regarding inflation and the role that low energy prices play in the overall inflation equation. We are going to have a transfer from the food and energy components which rely heavily on energy costs into the core inflation reading as consumers have more money...
  • Q4 GDP Revised Down To 2.2% From 5.0%: Full Breakdown

    02/27/2015 9:04:29 AM PST · by Kartographer · 15 replies
    Zerohedge ^ | 2/27/15 | Tyler Durden
    There was much hope that when Q3 GDP soared to 5%, primarily on the back of Obamacare spending recalendarization and a massive consumption/personal saving data revision, that the US economy would finally enter lift-off mode. Those hopes were reduced by about 60% when moments ago the BEA announced that Q4 GDP was revised from the original 2.64% print to only 2.18%, which while better than expected, was the lowest economic growth rate since the "polar vortex."
  • The US recovery story is a fraud?

    02/27/2015 8:49:51 AM PST · by alexmark1917 · 18 replies
    Most US economic data missed expectations in February. And that investors are sending stocks to all-time highs is making Societe Generale's Albert Edwards crazy. In a note Thursday, Edwards wrote: "With equity markets galore hitting record highs clearly I must be missing something big! We are at that stage in the cycle where I begin to doubt my own sanity. I’ve been here before though and know full well how this story ends and it doesn’t involve me being detained in a mental health establishment (usually)." From Janet Yellen's testimony on Capitol Hill earlier this week, Edwards points out that...
  • Billionaires Dumping Stocks, Economist Knows Why

    02/26/2015 12:18:13 PM PST · by Citizen Zed · 52 replies
    newsmax ^ | 2-26-2015
    A handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Buffett’s holding company, Berkshire Hathaway, has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold...
  • Watch Out for China Winning its 100-Year Marathon

    02/27/2015 5:05:27 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | February 27, 2015 | Michael Barone
    In reflecting on relations between the United States and China, Henry Kissinger in his 2011 book, "On China," notes that since he and Richard Nixon ventured to Beijing more than 40 years ago, "Eight American presidents and four generations of Chinese leaders have managed this delicate relationship in an astonishingly consistent manner, considering the difference in starting points." Kissinger diplomatically avoids saying that almost every presidential candidate over the years has campaigned against the Nixon-Kissinger policy and is perhaps taking pride in the fact that every president has continued it. Forty-plus years is a long time for a democracy to...
  • Greenspan: Effective demand as weak as during Depression

    02/26/2015 5:41:52 PM PST · by Red in Blue PA · 25 replies
    The fact that the market is anticipating that the Federal Reserve will raise interest rates, yet the yields on the 10- and 30-year Treasurys are falling is an indication of how weak the overall global economy is, former Fed Chairman Alan Greenspan told CNBC on Thursday. In fact, effective demand is extraordinarily weak, he said. "The way I measure it, it's probably tantamount to what we saw in the later stages of the Great Depression," Greenspan said in an interview with "Closing Bell." That said, he acknowledged "it's not anywhere near what the problems were back then but we haven't...
  • Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels

    02/26/2015 7:31:52 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 02/26/2015 | Tyler Durden
    One of the biggest question marks surrounding the Greek negotiation and ultimately, bailout extension, was just how panicked was the Greek population and domestic corporations. Recall that as explained previously, the tension boiled down to this: the Troika did everything in its power to accelerate the bank run in order to crush any negotiating leverage Varoufakis may have; Greece on the other hand was desperate to make its cash drain appear far better than rumored. Moments ago the Bank of Greece presented its latest, January, deposit data. And it's a doozy: following a record €12.2 billion monthly outflow, greater...
  • Christie and Walker take different paths on union issues

    02/25/2015 11:59:41 PM PST · by Cincinatus' Wife · 10 replies
    The State, South Carolina ^ | February 26, 2015 | Jill Covin and Scott Bauer in Madison,Steve Peoples in Washington, Michael Catalini in Trenton
    "You fight the good fight against Walker and he beats you," said Seth Markgraf, a 34-year-old construction worker from Arlington, Wisconsin. "They beat us in the recall and they beat us in another general election. It's just apathy. How do we beat Scott Walker?" TRENTON, N.J. — New Jersey's Chris Christie and Wisconsin's Scott Walker are getting ready to run for president, but they've still got day jobs as governors — and face another round in the ring with organized labor. For Christie, that means trying to reach a deal to fix New Jersey's underfunded pension system by working with...
  • How an Undocumented Immigrant From Mexico Became a Star at Goldman Sachs

    02/25/2015 11:34:54 PM PST · by 2ndDivisionVet · 5 replies
    Bloomberg Business | February 25, 2015 | Max Abelson
    Link only due to copyright issues: http://www.bloomberg.com/news/articles/2015-02-25/how-an-undocumented-immigrant-from-mexico-became-a-star-at-goldman-sachs
  • Why Obama Is So Autocratic About Environmental Policy [that's what dictators do]

    02/25/2015 11:07:11 PM PST · by Cincinatus' Wife · 8 replies
    Slate ^ | February 25, 2015 | Alec MacGillis
    After President Obama’s veto this week of legislation demanding the approval of the Keystone XL oil pipeline, congressional Republicans are charging him with once again flouting the will of the duly elected legislative branch. The charge has the ring of truth when it comes to energy and environmental matters, given how much the Obama administration has sought to circumvent Republicans with regulation and executive orders in that arena, most notably with the rules announced last year limiting carbon emissions from existing power plants. But there is a reason that Obama has chosen to go it alone on energy: The GOP’s...
  • Many Americans Still Struggling In Dismal Obama Economy

    02/25/2015 5:24:22 PM PST · by Kaslin · 46 replies
    Townhall.com ^ | February 25, 2015 | Donald Lambro
    WASHINGTON -- The new Republican Congress is just getting started, and the American people are waiting to see how lawmakers deal with the issues they care about most. Anyone who's followed the polls over the course of the Obama administration knows that the economy and jobs have been among our strongest concerns. The Gallup Poll reinforces this in its latest survey, asking people what they think are the biggest problems facing our country. "Economic problems" was, not surprisingly, their top concern -- mentioned by nearly 40 percent, followed by unemployment/jobs generally, the budget deficits and the federal debt, in that...
  • Is the Star Trek Economy a Welfare State?

    02/24/2015 9:34:40 PM PST · by Citizen Zed · 92 replies
    Slate ^ | 2-12-2015 | Ara Ogle, Quora
    As an example, Sisko's father runs a restaurant. Seats at that restaurant have to be a finite resource (because they require labor), so they would not be “free” to everyone—the owners get to choose whom they give it to. (That brings up the interesting question of whether the Federation would have anti-discrimination laws, but I digress.) Let's say Sisko chooses to feed people in his neighborhood; choosing to live in that neighborhood is the “price” his customers pay for his food. Similarly, Picard's brother makes real wine; since that requires real grapes and, again, labor, that would also be a...
  • The Hyperinflation Hype: Why the U.S. Can Never Be Weimar

    02/25/2015 10:26:02 AM PST · by ChildOfThe60s · 32 replies
    The Atlantic ^ | March 21, 2012 | Matthew O'Brien
    How are the United States' historic budget deficits, money-printing and depressed economy any different from the country's that have experienced hyper-inflation? The three-part answer is:(1) we don't have any problems selling our debt(2) we aren't actually printing money; and (3) the United States is a highly productive economy that is nothing like bombed-out Budapest.
  • Scott Walker tops GOP field in new national poll on 2016

    02/25/2015 1:38:45 AM PST · by Cincinatus' Wife · 44 replies
    Washington Times ^ | February 24, 2015 | David Sherfinski
    Wisconsin Gov. Scott Walker is leading a host of potential 2016 GOP presidential contenders with 25 percent of the vote in a national poll on the nomination contest released Tuesday. Retired neurosurgeon Ben Carson is second at 18 percent, followed by former Florida Gov. Jeb Bush at 17 percent and former Arkansas Gov. Mike Huckabee at 10 percent, according to the poll from the Democratic firm Public Policy Polling........
  • Latinos to account for over 40% of increase in U.S. employment over next 5 years, study finds

    02/24/2015 10:58:59 PM PST · by 2ndDivisionVet · 41 replies
    Fox News Latino ^ | February 24, 2015
    A new study released Tuesday indicates that Latinos will play an ever increasing role in the future of job growth in the United States. Latinos will account for more than 40 percent of growth in the next five years and more than 75 percent between 2020 and 2034 – an increase of 11 million jobs out of an economy-wide gain of 14 million, according to an analysis done by the economic forecasting firm IHS Global Insight. A number of reasons will account for the rise of Latinos in the workplace, but some major factors will be a Hispanic population growth...
  • Most Americans Are Slaves And They Don’t Even Know It

    02/24/2015 3:15:00 PM PST · by SeekAndFind · 31 replies
    TEC ^ | 02/24/2015 | Michael Snyder
    Most Americans spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do. These days, we don’t like to think of ourselves as “servants” or “slaves”, but that is what the vast majority of us are. It is just that the mechanisms of our enslavement have become much more sophisticated over time. It has been said that the borrower is the servant of the lender, and most of us start going into debt very early into our adult years. In fact, those that go to college to “get an...
  • There's a new mortgage crisis brewing [Richard Bove]

    02/24/2015 4:49:11 PM PST · by CutePuppy · 20 replies
    CNBC ^ | 2015 February 23 | Richard X. Bove
    In 2008, the nation entered into a financial crisis widely believed to have been caused by excesses in the residential mortgage industry. By 2010, the nation thought it had put in place a series of measures that not only would resolve the crisis but would insure that it never happened again. Yet, here we are in 2015 looking at another potential mortgage crisis. Only this time it is different. In 2008, funds flowed in waves into the mortgage industry. In 2015, it appears the funds are drying up. The solutions to the problem in 2010 and thereafter included: Suing and...
  • Tumblr CEO on net neutrality

    02/24/2015 4:04:22 PM PST · by SoFloFreeper · 18 replies
    CNBC ^ | 2/24/15
    "I think a bright line rule that sort of spells out the principles that we believe in, I think the Bill of Rights is a good thing," said Tumblr founder and CEO David Karp.
  • The stage is being set for a massive financial meltdown...

    02/24/2015 9:21:38 AM PST · by alexmark1917 · 40 replies
    Greek 4 month extension does nothing for the people of Greece. Sub-prime auto loans all time high and delinquencies are rising. Existing home sales implode while home price fall. Baltic Dry Index falls and ship builders are filing for bankruptcy. US blimp in Maryland used to watch the people. Ukraine bans Russian media and sets up their own propaganda media. Poroshenko wants Crimea back as they pull more weapons to the front line. US and the coalition forces getting ready for a major offensive in the middle east. DHS budget in trouble, using fear and a false flag event to...
  • Federal Reserve Insider Alan Greenspan Warns:There Will Be a “Significant Market EventSomething Big

    With the Federal Reserve printing trillions upon trillions of dollars to keep the economic system afloat, many investors and financial pundits have surmised that the fundamental economic problems facing the United States during the crash of 2008 have been resolved. Stocks are, after all, at historic highs. But the insiders know different. And if there’s any single person out there who understands U.S. monetary policy and its long-term effects on domestic and global affairs it’s former Federal Reserve chairman Alan Greenspan. As the head of the world’s most powerful central bank for nearly two decades he’s privy to the insider...
  • Is there another East Asian-style financial crisis coming?

    02/24/2015 6:13:26 AM PST · by alexmark1917 · 2 replies
    Falling oil, rising dollar and fears over US rate increase present in 1997-98 Mark Twain reputedly stated that history does not repeat but it rhymed. In an eerie parallel to 1997-98, falling commodity — especially oil — prices, a rising US dollar and potential increases in US interest rates may presage a new financial crisis. Weak growth, high debt levels, disinflation or deflation, policy driven destructive competitive devaluations, inflated financial risk taking and mispricing compounds the problems. The impending crisis may develop as follows. First, US equity prices come under pressure from a stronger dollar. Given 40 per cent of...
  • As free trade pacts expand, U.S. trade deficit soars. Why add one more?

    02/23/2015 9:57:23 AM PST · by Theoria · 18 replies
    Reuters ^ | 17 Feb 2015 | Leo Hindery Jr.
    President Barack Obama has called on Congress to grant him fast-track trade authority for his Trans-Pacific Partnership free-trade agreement. The administration insists the authority, which would give Congress only an up-or-down vote on the agreement, is needed to get the best possible terms from its trade partners along the Pacific Rim. During his 2008 presidential campaign, Obama promised to renegotiate and improve the North American Free Trade Agreement (NAFTA). But it now looks like what he really meant is to expand on that flawed trade model and extend it to other countries. Twenty-one years after NAFTA and four years after...
  • Stock Rally Adds Another Percent while Metals Fade: Week Ahead Worries-- Investor Thread Feb. 22

    02/22/2015 8:34:45 AM PST · by expat_panama · 92 replies
    Weekly investment & finance thread ^ | February 22, 2015 | Freeper Investors
    [excerpt from Yahoo Finance: What to watch next week: TGT, HD, M, HPQ, GDP and Greece] Next week will be a busy week on Wall Street with a raft of big earnings reports including Target (TGT), Macy’s (M), Home Depot (HD) and Hewlett-Packard (HPQ) to name just a few. Investors will also have a lot of economic data and geopolitics to digest this coming week and in the weeks that follow. The Commerce Department will release the latest reading on third quarter Gross Domestic Product. Yahoo Finance’s Rick Newman thinks investors will be watching that report closely, as well...
  • Meet 10 Indian couples who tied the knot and began their startup

    02/21/2015 6:17:19 PM PST · by 2ndDivisionVet · 5 replies
    The Economic Times ^ | February 22, 2015 | Rajiv Singh
    In the good old days, if they fell in love in B-school, got married and kicked off a career, the choices were predictable — if it was an MBA in marketing, it had to be a role in a consumer goods multinational (think Hindustan Unilever or Procter & Gamble or Nestle); if it was finance, the husband-wife duo inevitably found themselves at rival investment banks on Dalal Street. These days, it's a bit different. Many couples who met in school or college — not just B-schools — are taking the long and invigorating walk down the aisle of entrepreneurship. And,...
  • What Scott Walker Actually Said (There was more to that dinner than Rudy Giuliani)

    02/21/2015 1:05:15 AM PST · by Cincinatus' Wife · 76 replies
    National Review Online ^ | February 20, 2015 | Larry Kudlow
    Yes, believe it or not, Wisconsin governor Scott Walker actually spoke at some length at the dinner this past week where Rudy Giuliani charged that President Obama doesn’t love America. All the hullabaloo went to Giuliani, but in terms of the Republican presidential race, a number of Scott Walker’s pointed comments about policy and politicians are not to be missed. First a word about the dinner itself, which was generously backed by John Catsimatidis. It was the second event sponsored by the Committee to Unleash American Prosperity, a new group founded by Arthur Laffer, Steve Moore, Steve Forbes, and myself....
  • Fed fight heats up

    02/20/2015 5:34:48 AM PST · by Cincinatus' Wife · 12 replies
    The Hill ^ | February 20, 2015 | Kevin Cirilli
    The Federal Reserve is pushing back against mounting criticism of the central bank, even as those pushing for reforms ratchet up their attacks. Fed officials have in recent weeks met in private with staffers from both parties, focusing primarily on the Senate, according to sources familiar with the meetings. Meanwhile, Chairwoman Janet Yellen and other Fed officials have publicly sounded off against a proposal championed by Sen. Rand Paul (R-K.Y.) that would give Congress more sway over the bank. The uptick in outreach from the independent agency signals an effort to quell calls for significant changes at the Fed and...
  • Marco Rubio Laughingly Accuses Obama’s Policies of Being Bad for the Nation

    02/19/2015 7:42:54 PM PST · by 2ndDivisionVet · 32 replies
    PoliticusUSA - Real Liberal Politics ^ | February 19, 2015 | Sarah Jones
    As Republican hopefuls Governor Scott Walker (R-WI) and Governor Bobby Jindal (R-LA) showed themselves to be spineless against the far right by refusing to refute Rudy Giuliani’s cheap and obviously empty Palinesque attack on President Obama’s patriotism, Senator Marco Rubio (R-FL) tried to walk a finer line. He demonstrated how to be weak and spineless while playing more subtly with Palin fire by laughingly suggesting that while he has “no doubt” Obama loves this country (not one high profile Republican seems capable of saying Obama loves this country for sure), his polices are so terrible for the nation. Rubio told...
  • States don’t want illegal immigrants, but could they need them? (Here we go)

    02/19/2015 1:36:33 PM PST · by 2ndDivisionVet · 17 replies
    Watchdog.org ^ | February 19, 2015 | Yaël Ossowski
    A coalition of 26 states fought and won a battle to freeze President Barack Obama’s deferred action plan to give temporary work visas to illegal immigrants with children born in the United States. Judge Andrew Hanen’s injunction order, issued Monday, makes certain eligible illegal immigrants won’t get permission from the federal government to seek lawful employment, and will have to continue working without legal papers. The states who filed the lawsuit claimed such an action would cause “undue burden” to their finances. “Regardless of the reasons behind the actions or inaction of the executive and legislative branches of the...
  • Scott Walker Embraced by Voodoo Economists

    02/19/2015 11:20:31 AM PST · by Cincinatus' Wife · 38 replies
    New Yorker ^ | February 19, 2015 | Jonathon Chait
    "......The more significant development was Scott Walker’s semi-public confab with the leading lights, such as they are, of supply-side economics. Last night, the Wisconsin governor attended a dinner in New York hosted by Stephen Moore, Arthur Laffer, and Lawrence Kudlow. This is a strong indication of the policy leanings of a candidate who probably stands as strong a chance as anybody of capturing the nomination. The backdrop to Walker’s meeting is that the Republican Party is undergoing the first serious effort to alter its domestic policy in a quarter century....... This has left a gaping void for a Republican candidate...
  • Scott Walker to attend private dinner with supply-siders in New York

    02/19/2015 4:40:01 AM PST · by Cincinatus' Wife · 14 replies
    Washington Post ^ | February 18, 2015 | Robert Costa
    Wisconsin Gov. Scott Walker is scheduled to attend a private dinner Wednesday with longtime advocates of supply-side economics. The gathering, set for the upscale “21” Club in Manhattan, is the latest effort by the potential Republican presidential contender to bolster his relationships with the GOP’s anti-tax wing. It also reflects the interest business-friendly conservatives have in his possible candidacy, in spite of the recent ascent of former Florida governor Jeb Bush. Economists Larry Kudlow, Arthur Laffer, and Stephen Moore will host Walker, according to several people with knowledge of the event. For decades, that trio of friends — all associated...
  • After companies create jobs, NJ cuts funds for tax breaks

    02/18/2015 6:16:36 PM PST · by Coleus · 16 replies
    Bergen Record ^ | 02.17.15 | HUGH R. MORLEY
    As the state pours billions of dollars in business tax breaks into programs aimed at strengthening New Jersey’s struggling economy, it has put the brakes on another incentive program, leaving hundreds of companies without promised payments that could total in the hundreds of millions of dollars. Seeking to balance the state budget over the last few years, the Christie administration and the Legislature have each slashed funding for the Business Employment Incentive Program, commonly referred to as BEIP, eliminating payments to companies that were promised annual income tax rebate checks in return for moving to New Jersey or expanding here....
  • All Bubbles Burst: China's Real Estate Market Crashing, Eurogroup Prepare For Grexit & Default...

    02/18/2015 10:23:39 AM PST · by alexmark1917 · 6 replies
    China's Real Estate Market Crashing... Real Estate is the single biggest domestic lending segment in China. Combined with deflation in Iron Ore, Steel, Copper, and other industrial metals China's collateral quality is looking very very shaky compared to loan volume... SNIP While the world's attention is glued to events in Greece, the real action continues to evolve quietly thousands of kilometers east, in China, where the near record surge in new loans remains unable to offset the dramatic slowdown in shadow banking issuance. And while China's bubble-chasing, animal spirits have recently reoriented themselves from real estate to the stock market,...
  • Will McConnell make a deal?

    02/18/2015 3:50:38 AM PST · by Cincinatus' Wife · 10 replies
    The Hill ^ | February 18, 2015 | Alexander Bolton
    Don’t count on Senate Majority Leader Mitch McConnell to play dealmaker in the fight over Department of Homeland Security funding. The Kentucky Republican is under intense pressure from conservatives to hold the line against President Obama’s immigration actions, and he shows no signs of backing down. McConnell on Tuesday used a judge’s injunction against Obama’s immigration order to increase the pressure on Democrats, saying the onus is on them to stop filibustering legislation that would fund the DHS and stop an illegal power grab by the White House. “Senate Democrats — especially those who’ve voiced opposition to the President’s executive...