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Keyword: economy

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  • The Pitfalls of Modern Capitalism

    07/24/2014 3:25:34 AM PDT · by matthewrobertolson · 14 replies
    Catholic Analysis ^ | 24 July 2014 | James Kohn
    When Adam Smith put to paper the principles of market systems that Marx would later dismiss as capitalism, people were still dedicated to their religious faiths. Smith -- who was not in Washington at the time (ba-dum-tssshhh) -- knew this, and, even prior to releasing this monumental work, he laid the foundation of what his market system would be based on: “moral sentiments”. Smith was not a relativist, but he believed that morals were commonly held -- after all, Christendom was still holding on, albeit just barely and for dear life. True, enlightened capitalism, while inferior to distributism, is at...
  • Stock Market Crash… Economic Collapse

    07/22/2014 7:24:08 PM PDT · by Signalman · 34 replies
    economyandmarkets.com ^ | 7/21/2014 | Harry Dent
    You can’t deny an economic collapse. We are about to see the greatest stock crash of our lifetimes I recently read a good article in Barron’s by Randall W. Forsyth called “Deus ex Machina 2.0: Is the Fed Trying to Take Human Nature Out of the Credit Cycle?” It was particularly interesting in light of the Bank for International Settlements’ warning that central banks are stoking financial bubbles that will burst, creating an even larger financial crisis… and that they should reverse their endless stimulus policies sooner rather than later. Music to my ears: Were they singing my song or...
  • American Families Are Right To Be Worried About Inflation

    07/22/2014 1:41:20 PM PDT · by right-wing agnostic · 7 replies
    The Federalist ^ | July 22, 2014 | Sean Davis
    “Americans should stop whining about food prices.” That was the message AEI’s Mark J. Perry blasted last September to families gullible enough to believe that rising food prices were a problem: It’s a favorite pastime in this country – Americans love to complain about rising food prices. Even when they aren’t. In fact, given all of the complaining you would never know that average food price inflation in recent years is actually the lowest in several generations. Below are three reasons that Americans should stop whining about food prices, and be a little more appreciative of how affordable food is...
  • Obama Recovery Turns 5: Are You Better Off?

    07/22/2014 6:27:35 AM PDT · by IBD editorial writer · 67 replies
    Investor's Business Daily ^ | 07/22/2014 | John Merline
    In a speech last week in Delaware, President Obama was positively bursting with pride about what his policies have produced since the economic recovery started five years ago. What Obama didn´t say in his speech is that [snip] many Americans are doing a whole lot worse than they were when Obama's economic recovery began five years ago.
  • High gasoline prices push up U.S. consumer prices

    07/22/2014 5:49:00 AM PDT · by SoFloFreeper · 19 replies
    Reuters ^ | 7/22/14
    U.S. consumer prices rose in June as the cost of gasoline surged, but the overall trend continued to point to a gradual build up of inflationary pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month after May's 0.4 percent gain. Gasoline accounted for two-thirds of the rise in prices last month. In the 12 months through June, the CPI increased 2.1 percent after a similar rise in May.
  • What's the Price of Happiness in Your State? (With Chart)

    07/21/2014 12:18:55 PM PDT · by 2ndDivisionVet · 9 replies
    The Philadelphia Inquirer ^ | July 21, 2014 | Eric Reed
    The price of happiness depends a lot on where you live, according to a new report by the investment group Advisor Perspectives. The analysis is based on the now-famous work by Princeton researchers Daniel Kahneman and Angus Deaton, who found that higher incomes only make people happier to a point. Up to about $75,000 per year, the more a household earns, the happier people are. After that benchmark, however, additional income "buys life satisfaction but not happiness." The team separated these two issues by distinguishing fun from happiness. More money still leads people to have more life experiences and greater...
  • Study: Minimum wage hikes don’t kill jobs

    07/21/2014 9:27:34 AM PDT · by Incorrigible · 26 replies
    NJ101.5 ^ | 7/21/2014 | Kevin McArdle
    Study: Minimum wage hikes don’t kill jobsBy Kevin McArdle July 21, 2014 5:14 AMA new study by the Center for Economic and Research Policy shows that job growth in states that increased their minimum wages this year is far more robust when compared to states that did not hike the minimum wage. Thirteen states increased their minimum wages in 2014, including New Jersey. According to the report, the average change in payrolls in states that implemented minimum wage hikes was 0.99 percent.  For states that didn’t see a minimum wage hike, it was 0.68 percent.However, the report said there is...
  • Investment & Finance Thread (week July 20 - July 26 edition)

    07/20/2014 4:02:51 PM PDT · by expat_panama · 52 replies
    Weekly investment & finance thread ^ | July 20, 2014 | Freeper Investors
    Year-to-date wrap-up time.   General markets varied a lot but right now they're all together at 5-10% up so far.  Actually that's pretty good as it represents a 5-year doubling time.    click to enlarge  A closer look at stock indexes so far this year are showing roughly the same track but my dim eyes are somehow seeing us having a plateau for the past 3 weeks.  That's usually a good sign; witness the run-up after the mid-April basing. click to enlarge .As Torch says, "Discuss".  This is the thread where folks swap ideas on savings and investment --here's a list of popular...
  • Maria Bartiromo: we need Economic Patriotism (Hooray Maria!!) on show Sunday Morning Futures

    07/20/2014 7:59:47 AM PDT · by Cringing Negativism Network · 52 replies
    Fox News | July 20 2014 | (rant)
    Hooray! Maria Bartiromo and gang were just discussing "Economic Patriotism" on her Fox News Channel show "Sunday Morning Futures". I couldn't believe it. FINALLY. Way to go. Much more conservatives need to climb on board this important topic.
  • Higher Minimum Wage Does Not Cost Jobs

    07/20/2014 12:03:29 AM PDT · by 2ndDivisionVet · 36 replies
    Voice of Russia ^ | July 8, 2014 | Professor Cyril Ghosh, Wagner College, Staten Island, NY
    SEATTLE (VR) – Does raising the minimum wage kill jobs? Most probably not. Does it increase jobs? We don’t know for sure, but it might. Or at least these are the inferences one is likely to make from a recent report from the Center for Economic and Policy Research. It turns out that 12 out of 13 states that raised their minimum wage on January 1, 2013 are experiencing increases in employment. The report also states that the average change in employment for these 13 states is +.99% while the average change in employment in the remaining states is +.68%....
  • Clothing chain Love Culture files bankruptcy, may be sold

    07/18/2014 7:32:20 PM PDT · by 2ndDivisionVet · 8 replies
    Reuters ^ | July 16, 2014 | Jonathan Stempel
    Love Culture Inc on Wednesday filed for Chapter 11 bankruptcy, becoming the latest women's apparel retailer to seek protection from creditors, and said it may be sold after having received interest from possible buyers. The company, which according to its website has 82 stores stretching from Massachusetts to Hawaii, joins Ashley Stewart Holdings Inc, Coldwater Creek Inc., Dots LLC and Loehmann's Inc among retailers to file for bankruptcy since late last year as consumers curb spending and visit malls less. In a court filing, the company's chief restructuring officer, Rick Bunka, said sales remain below projections, while vendors in April...
  • More Than 1,400 Workers In Pike County, Ohio, To Receive Possible Layoff Notices (Fluor B&W)

    07/18/2014 7:25:16 PM PDT · by 2ndDivisionVet · 4 replies
    WCHS-TV ^ | July 18, 2014 | Sean Delancey and Jeff Morris
    Piketon , Ohio - Roughly 1400 people woke up to bad news Thursday morning. It's called a warn notice, and it means their livelihood is on the line. "These are the higher paying jobs in the area," Herman Potter said. But those jobs are now in jeopardy. Herman Potter is president of the Steel Workers Union in Piketon, Ohio. His employer, Fluor B&W issued a warn notice, stating layoffs are possible. Fluor B&W was hired by the Department of Energy to clean the former Portsmouth gaseous diffusion plant and re-industrialize the property three years ago. The way things stand now,...
  • Experts: America's gold is gone

    07/18/2014 6:35:46 PM PDT · by SkyPilot · 78 replies
    WND and King World News ^ | 18 Jul 14 | Mark Leibovit
    Paul Craig Roberts: The entire U.S. gold hoard is now goneFormer U.S. Treasury official Dr. Paul Craig Roberts told King World News the entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone. This is very bad news for Germany and other countries which have trusted the Fed to safely store their gold. Excerpts from the interview: Eric King: Dr. Roberts, I know you’ve seen the report on Bloomberg about Germany supposedly being happy with storing their gold at the New York Fed. It seemed to be a propaganda piece. What was...
  • What is Obama’s End Game for America?

    07/18/2014 8:27:40 AM PDT · by HammerT · 114 replies
    July 18, 2014 | HammerT
    Obama and his comrades created the border crisis to force amnesty down our throats, but it’s not working as intended. So why do they soldier on with their insanity? It should be obvious to everyone that the current border crisis was preplanned and created by the regime. They implied that our borders are open, set up logistical support to infiltrate them everywhere on the taxpayer dime and in came the flood. Insane as it sounds, this seems to be their grand plan to force 30 million new Democratic voters on the nation and insure themselves a perpetual voting base. But...
  • IN DEPTH COVERAGE: Carlton Complex Fire forces evacuations; 40-50 structures gone (Washington St)

    07/18/2014 7:29:38 AM PDT · by illiac · 11 replies
    KHQ News ^ | 7/18/14 | KHQ News
    UPDATE: BREWSTER, Wash. - There are LEVEL 3 evacuations being ordered in the town of Pateros which has a population of 650 people, as the Carlton Complex Fire burns out of control. 40-50 homes and businesses have burned to the ground. The Brewster Three Rivers Hospital has been evacuated as well. Staff and patients were transferred to Mid Valley Hospital in Omak. The retirement center in Brewster was evacuated to Bridgeport. Housing is available for those who have been evacuated in Chelan at the High School. Residents from Harmony House are being moved to Bridgeport, believe they said the school...
  • San Francisco Median Home Price Hits $1 Million as National Jobs Recovery Atrophies

    07/17/2014 4:33:23 PM PDT · by MRourke85 · 7 replies
    Confounded Interest ^ | 07/17/2014 | Anthony B. Sanders
    The one section of the housing market that is booming is housing for the wealthy. For example, the median home price in San Francisco just hit $1 million. An analysis by DataQuick of 25 of the top U.S. metropolitan areas for multimillion-dollar sales showed purchases for $2 million or more jumped 33 percent in January and February from a year earlier. Unfortunately for the rest of the United States (the mere mortals), the housing affordability (according to the National Association of Realtors) is declining. narafford This is particularly bad news since home prices are rising while real median household income...
  • Today's Horrific Housing Report Was All About One US Region

    07/17/2014 2:48:02 PM PDT · by Lorianne · 15 replies
    Business Insider ^ | 17 July 2014 | Mamta Badkar
    Earlier Thursday morning we saw that housing starts unexpectedly plunged 9.3% to an annualized rate of 893,000. On the face of it, the report was ugly, considering all the talk about the recent housing snapback. It's important to note that the miss was entirely due to one region: the South. Housing starts plunged 29.6% in the South, driven by weakness in single-family units. "All the hit is in the south, where starts plunged by 29.6%, the biggest ever monthly drop, despite gains in each other region," wrote Ian Shepherdson at Pantheon Macroeconomics.
  • Microsoft to cut 18,000 jobs this year as it chops Nokia

    07/17/2014 8:35:02 AM PDT · by Scutter · 34 replies
    MSN ^ | 7/17/2014 | Bill Rigby
    SEATTLE (Reuters) - Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company's 39-year history and come five months into the tenure of Chief Executive Officer Satya Nadella. He outlined plans for a "leaner" business in a public memo to employees last week.
  • Exclusive: GM recalls some cars with problematic switches; judges others safe

    07/17/2014 7:21:36 AM PDT · by Zakeet · 10 replies
    Reuters ^ | July 17, 2014 | Paul Lienert
    General Motors Co last month recalled millions of vehicles with three different designs of ignition switches that could accidentally turn off the engine and disable air bags in a crash. But the automaker has concluded that more than 2 million other vehicles having exactly the same switches are safe. The vehicles which have not been recalled include fullsize crossovers such as the Buick Enclave and Chevrolet Traverse made from 2007 to the present, which share a switch with recalled late-model Chevrolet Camaros and Cadillac CTSs. Two other switch designs are in other sets of vehicles. GM spokesman Alan Adler said...
  • Microsoft to Eliminate Up to 18K Jobs Over Next Year

    07/17/2014 5:45:35 AM PDT · by mykroar · 26 replies
    FoxBusiness.com ^ | 7/17/2014 | Victoria Craig
    <p>In a letter to employees early Thursday, Microsoft CEO Sataya Nadella said the tech giant will slash its workforce by as many as 18,000 jobs over the course of the next year, with the first round of 13,000 cuts coming within the next six months.</p>
  • Microsoft may announce its biggest layoffs ever on Thursday

    07/17/2014 3:36:19 AM PDT · by Innovative · 30 replies
    ComputerWorld ^ | July 16, 2014 | Stephen Lawson
    The action will be much bigger than the 5,800 job cuts announced in 2009, The New York Times said. Microsoft reportedly will announce the biggest round of layoffs in its history on Thursday as massive changes wrought by new CEO Satya Nadella start to take hold at the struggling IT giant.
  • If This Keeps Up, They Will Have To Start Putting Armed Guards On Food Trucks

    07/16/2014 5:24:54 PM PDT · by blam · 61 replies
    TEC ^ | 7-16-2014 | Michael Snyder
    By Michael Snyder July 16th, 2014 The basic necessities in life just keep getting more expensive. On Tuesday, Hershey announced that the price of all of their chocolate bars is going to go up by about 8 percent. That is particularly distressing to me, because I am known to love chocolate. But if it was just chocolate that was becoming significantly more expensive perhaps that would be okay. Last month, it was coffee. J.M. Smucker, one of the largest coffee producers in the United States, announced that it planned to raise coffee prices by about 9 percent. And Starbucks has...
  • 2008 Meltdown Revisited-There’s No Solution-Egon von Greyerz

    07/16/2014 12:02:12 PM PDT · by GilGil · 19 replies
    Usawatchdog.com ^ | 07/16/2014 | Greg Hunter
    We are now in a situation where every major economy in the world is in a total mess.” Greyerz goes on to explain, “Japan’s economy is going to disappear into the Pacific. China is having its problems. Europe has problems. The EU will never work and was not supposed to work. The euro is an artificial currency and, in the long run, will not survive. The U.S. stock market is at an all-time high, but that has nothing to do with the real economy which is an absolute mess. So, the world has never been in a situation where all...
  • Tweeting With The Enemy: The Audacity of Autocracy

    07/16/2014 10:00:38 AM PDT · by xuberalles · 1 replies
    Me | 7/16/14 | Self
    There’s a reason why Barack Obama, Eric Holder, and agencies like the DHS/IRS are not the least bit concerned with defeating Islamic extremism or protecting our borders against those who only wish to infiltrate and exploit America. It’s because they too despise this country and welcome the erosion of our society to forge their progressive utopia which stands in direct opposition to every ideal this nation was founded upon. Yes, this is also why our so-called President and his brainwashed minions are only concerned with using government resources, taxpayer money and property, to destroy THEIR, not America’s, political enemies; AKA,...
  • Obama has not failed blacks

    07/15/2014 8:49:34 PM PDT · by 2ndDivisionVet · 42 replies
    The Los Angeles Wave ^ | July 3, 2014 | Earl Ofari Hutchinson
    From the moment that he set foot in the White House in January 2009, President Barack Obama has had to hear the silly charge that he has miserably failed blacks. HeÂ’s repeatedly heard it for two reasons. The first is obvious. HeÂ’s black, but more than that he actually practiced civil rights law and worked as a community organizer in poor communities on ChicagoÂ’s South Side. Therefore heÂ’s supposed to have an even greater sensitivity to the plight of the black poor. And because of that he has a duty, obligation and even mission to use the power and prestige...
  • Why Is Zero Economic Growth 'Unexpected' ?

    07/15/2014 9:47:29 AM PDT · by blam · 7 replies
    The Market OIracle ^ | 7-15-2014 | Andrew_McKillop
    July 14, 2014 Andrew_McKillop Always Unexpected Each monthly decline in leading economic indicators, when it happens in the Eurozone, as in the US or Japan, China, Brazil, India or elsewhere, is always “unexpected”. Why is this? For example the March, April, May and June declines for the Eurozone were each time titled “unexpected” by newswires and mainstream media the month following each “surprise”. Taking the case of Reuters, it reported April 14 that Eurozone industrial output had fallen in March “for the first time since August” so this was able to be called unexpected. Then the decline continued in April....
  • Think the Economy Can Save Democrats? It Won't

    07/14/2014 6:17:16 PM PDT · by 2ndDivisionVet · 10 replies
    National Journal ^ | July 13, 2014 | Alex Roarty
    The economy might play a role in presidential politics, but its impact is near nil in the midterms. This month's surprisingly strong jobs report elicited fresh optimism that at long last, the economy was poised to recover its full strength. And in Washington, naturally, the question quickly became: Would Democratic candidates receive an unexpected boost from a late-in-the-election-cycle economic surge? The short answer? Don't count on it. Even if job gains do spike—and there's plenty of reluctance to predict an accelerating recovery after years of stop-and-start growth—it's unlikely voters will feel demonstrably better about the economy in time for November....
  • Connecticut Gun Company Turns to Texas

    07/13/2014 5:01:51 PM PDT · by 2ndDivisionVet · 55 replies
    Townhall ^ | July 13, 2014 | Sarah Jean Seman
    America’s oldest family owned and operated gun manufacturing company O.F. Mossberg & Sons, has its eye on Texas. The company was founded in Connecticut in 1919; however, after Gov. Dannel Malloy (D) passed one of the strictest gun-control legislations in the nation last April, Mossberg & Sons is looking to expand in a more gun-friendly state. CEO Iver Mossberg told Forbes: “Investing in Texas was an easy decision. It’s a state that is not only committed to economic growth but also honors and respects the Second Amendment and the firearm freedoms it guarantees for our customers.” The gun company will...
  • Investment & Finance Thread (week July 13 - July 19 edition)

    07/13/2014 4:06:02 PM PDT · by expat_panama · 72 replies
    Weekly investment & finance thread ^ | July 13, 2014 | Freeper Investors
     Condensed version:  this past week's metals 'n stock indexes saw a (imho) a flat decision making base --not sure how metals volume went but stocks had high volume for the dips & low for the rebounds --bearish, a situation IBD calls 'uptrend under pressure'.   fwiw, their distribution day count is running at 6 for the S&P and 4 for the NASDAQ.Fortunately I can now say what the upcoming week's going to be; it'll be "interesting".    This is the thread where folks swap ideas on savings and investment --here's a list of popular investing links that freepers have posted here...
  • Black American from Gang-Besieged Baltimore: 'Where Can I Get Asylum?'

    07/12/2014 6:35:52 AM PDT · by KeyLargo · 33 replies
    Breitbart ^ | 11 July 2014 | Tony Lee
    Black American from Gang-Besieged Baltimore: 'Where Can I Get Asylum?' by Tony Lee 11 Jul 2014 1612 post a comment As the White House plans to spend billions of taxpayer funds to take care of illegal immigrant children who are unlawfully entering the country, some black Americans who live in some of the most dangerous neighborhoods are wondering where they and their children can get refugee status and aid. On Friday's Laura Ingraham Show, Elaine, a black woman from Baltimore, expressed her outrage that President Barack Obama is putting the interests of illegal immigrant children above those of American citizens....
  • Matthews: Tea Party Treats Ayn Rand's 'Atlas Shrugged' 'Like It's the Little Red Book of Mao'

    07/11/2014 11:38:07 PM PDT · by 2ndDivisionVet · 56 replies
    NewsBusters ^ | July 11, 2014 | Matthew Balan
    On Friday's Hardball, Chris Matthews and Howard Dean slammed the supposedly "lunatic" Republican Party for opposing President Obama's $3.7 billion request to deal with the ongoing crisis at the U.S-Mexico border. Dean likened the political stalemate over this issue and in general in Washington to McCarthyism in the 1950s: "It reminds me of the 'who lost China' debate...where one side is frothing at the mouth and finding communists under every bed; and the other side – including some reasonable Republicans...actually trying to run the country." Matthews endorsed the former Vermont governor's take, and targeted fiscal conservatives/the Tea Party as somehow...
  • Mexican Peso to be backed With Silver: “Would Unleash a Global Power Shift”

    07/11/2014 6:28:49 PM PDT · by 2ndDivisionVet · 63 replies
    Freedom Outpost ^ | July 11, 2014 | Mac Slavo
    For many Americans the country of Mexico conjures up images of a third world nation. The poverty, lack of basic services, and extreme violence has left the populace so desperate that thousands of people on a daily basis head to the United States for a better life. But according to Future Money Trends, all that could change in the near future as key Mexican financial leaders and politicians have been working to institute sweeping monetary change that, if implemented, could unleash a global power shift of epic proportions. “Take just three or four men out of the ‘anti’ group,” says...
  • ‘The bear is loose’: Is Obama breaking free or running away?

    07/11/2014 4:20:17 PM PDT · by 2ndDivisionVet · 34 replies
    The Washington Post's The Debrief ^ | July 10, 2014 | Juliet Eilperin
    Bears, beer and horse heads: What exactly is going on with the leader of the free world? On a single day this week in Denver, President Obama scarfed down pizza and drinks with strangers, shot pool with Colorado’s governor and shook hands with a guy on the street wearing a horse mask. His top staffers are promoting these stops on Twitter with the hashtag #TheBearIsLoose — a term one of Obama’s aides coined in 2008 when the candidate would defy his schedule. More than five years into his presidency, Obama is trying to free himself from the constraints of office,...
  • Majority of employees feel they have NO control over decisions in the workplace

    07/11/2014 3:43:07 PM PDT · by CorporateStepsister · 34 replies
    daily Mail ^ | 11 July 2014 | By Louise Boyle
    Most employees believe they have no say when it comes to changes in the workplace that directly affect their jobs. Six out of ten corporate staff said they have little or no input in decisions which affect them personally at work, according to a recent survey by Strayer University and Ipsos. Those over 35 felt their opinions mattered less than those workers aged 18-34 - although perhaps that's just a healthy dose of cynicism that comes from spending longer on the corporate ladder.
  • 2,000 days of Obama: How have stocks done?

    07/11/2014 12:39:17 PM PDT · by illiac · 30 replies
    MarketWatch ^ | 7/11/14 | Russ Britt
    LOS ANGELES (MarketWatch) — It’s been almost 2,000 days since President Barack Obama entered the Oval Office, and MarketWatch felt it would be fitting to measure the stock market’s performance during the president’s tenure to this point with its performance through the 2,000-day mark of other recent presidential administrations. Obama was sworn in amid extreme financial turmoil in January 2009, roughly six weeks before the stock markets hit bottom in the depths of the Great Recession. Pretty much the only direction for stocks to go was up. How far up, though? More important, how do gains under Obama compare with...
  • Retailers Have Given Some Discouraging Commentary About The US Economy To Start Earnings Season

    07/11/2014 11:20:12 AM PDT · by blam · 15 replies
    BI ^ | 7-11-2014 | Myles Udland
    Myles Udland July 11, 2014Something seems off in the economy.Over a three-week span starting next Monday, 72% of the S&P 500's members will report earnings, but some of the early indications about this earnings season, especially from companies highly exposed to the U.S. consumer, have not been encouraging. On Tuesday afternoon, two companies that are all about consumer spending, Bob Evans and The Container Store, reported earnings that were disappointing. But even more discouraging were the comments from company executives. Bob Evans, which wrapped up its fiscal year 2014 in its most recent quarter, said its results were impacted by...
  • Immigration Reform Proponents Must Consider Results From 100 Years Ago

    07/10/2014 7:23:09 PM PDT · by 2ndDivisionVet · 6 replies
    Roll Call ^ | July 10, 2014 | Roy Beck
    (VIDEO-AT-LINK)The effect on the congressional immigration debate after House Majority Leader Eric Cantor’s surprising primary loss should not be about whether to have reform, but whether that reform should be about increasing foreign labor or reducing it. Cantor represented the unanimous views of the leadership of both parties, which have only differed in how and how much to increase lifetime immigrants, guest workers and legalizations of unlawful foreign visitors. By stressing the opposite option — reductions in legal immigration — during his campaign against Cantor, victorious economics professor Dave Brat has suddenly given hope to the many members of Congress...
  • Power grab: EPA wants to garnish wages of polluters

    07/09/2014 7:50:27 AM PDT · by Cincinatus' Wife · 16 replies
    Washington Times ^ | July 9, 2014 | S.A. Miller
    The Environmental Protection Agency has quietly floated a rule claiming authority to bypass the courts and unilaterally garnish paychecks of those accused of violating its rules, a power currently used by agencies such as the Internal Revenue Service..... ....Critics said the threat of garnishing wages would be a powerful incentive for people to agree to expensive settlements rather than fight EPA charges. EPA officials did not respond to repeated questions by The Washington Times about why they thought it was necessary to garnish people’s wages. The EPA announced the plan last week in a notice in the Federal Register, saying...
  • Virtual Economy’s Phantom Job Gains Are Based on Statistical Fraud — Paul Craig Roberts

    07/08/2014 12:00:26 PM PDT · by GilGil · 11 replies
    Paulcraigroberts.com ^ | 07/07/2014 | Craig Roberts
    Since 1994 there has been no official measure than includes discouraged people who have not looked for a job for more than a year. Including all discouraged workers produces an unemployment rate that currently stands at 23.1%, almost four times the rate that the financial press reports.
  • These Three Charts Show Inflation Is Finally Right Around The Corner

    07/07/2014 8:22:17 PM PDT · by Citizen Zed · 16 replies
    Business Insider ^ | 7-5-2014 | JOE WEISENTHAL
    1. Historically, when Capacity Utilization is as high as its now (suggesting not much industrial slack) the inflation rate has been much higher. 2. According to survey data from the National Federation of Independent Businesses, more and more companies are saying they can't find qualified applicants for job openings. 3. Survey data shows a big increase in the number of businesses who say they plan to raise wages in the future.
  • Mr. Obama, you can’t blame our economic troubles on weather

    07/07/2014 4:16:38 PM PDT · by richardb72 · 8 replies
    Fox News ^ | July 7, 2014 | John R. Lott Jr.
    The economy took a bad hit during the first quarter this year. It shrunk at an annual rate of 2.96 percent. Since the beginning of 1947, there are only 16 of the 268 quarters experienced worse growth. The Obama administration blames the slow growth on the “historically severe winter weather, which temporarily lowered growth.” Jason Furman, the chair of Obama’s Council of Economic Advisors, made this assertion again on July 3rd and President Obama has made this claim several times. But that doesn’t square with the historic data. The five worst winter storms or winters with the coldest temperatures do...
  • WH trying to pre-empt sticker shock on September premium increases

    07/07/2014 10:25:29 AM PDT · by 2ndDivisionVet · 8 replies
    Hot Air ^ | July 7, 2014 | Ed Morrissey
    And well they might. Insurers got a close look at the profiles of the enrollees in the individual health-insurance market this spring, and they turned out to be sicker than projected, as the “young invincibles” took a pass on ObamaCare in 2014. That means that premiums will go up in the fall in order to cover the added expense of the higher-risk enrollments — and that has the Obama administration spin team working extra hard this summer to cover their rear ends just before the midterms: Most state health insurance rates for 2015 are scheduled to be approved by early...
  • Stiglitz: 'Very uncomfortable' with stock levels

    07/07/2014 5:45:15 AM PDT · by Citizen Zed · 12 replies
    cnbc ^ | 7-7-2014
    "The reason the stock market is high, in part, is that interest rates are low, wages are low and the emerging markets are still growing much faster than the U.S. economy, let alone Europe," Stiglitz said. He pointed to the fact that many U.S.-listed multinationals are increasingly getting a large chunk of their profits from emerging markets. "These very strong stock market prices are in a sense a symptom of the weak economy, not a symptom that we are about to have a strong recovery to our real economy," he said. Stiglitz, a professor of economics at Columbia University, said...
  • Mike Maloney: The Dollar As We Know It Will Be Gone Within 6 Years

    07/06/2014 8:14:24 PM PDT · by blam · 58 replies
    Zero Hedge ^ | 7-6-2014 | Mike Mahoney - Tyler Durden
    Tyler Durden 07/06/2014 Submitted by Adam Taggart via Peak Prosperity, This week's podcast sees the return of Mike Maloney, monetary historian and founder of precious metals broker GoldSilver.com. Based on historical patterns and the alarming state of our current monetary system, Mike believes the fiat US dollar is in its last years as a viable currency. He sees its replacement as inevitable in the near term -- as in by or before the end of the decade: All of this is converging with the crazy experiments the Federal Reserve has done. I absolutely believe that there are economic consequences to...
  • Investment & Finance Thread (week July 6 - July 12 edition) [my title: The Economy Looks Great!]

    07/06/2014 10:24:34 AM PDT · by expat_panama · 72 replies
    Weekly investment & finance thread ^ | July 6, 2014 | Freeper Investors
      Huh.  While coming into the second half of 2014 we just had the GDP and employment rpts, and what happened is we got what seemed to be contradictory -2.7% and +6.3 bombshells.    On the other hand (Truman hated economists saying that) a look at the year over year GDP return along with the employment/population ratio puts the two together.[click to enlarge]The reason GDP growth looks solid is because that -2.7% was just one Qtr to the next, so last week's rpt tells us more about how good Q4 was than it does about how bad Q1 turned out. ...
  • What's making US economy a world beater? 5 factors(How about those rising prices and taxes?)

    07/05/2014 9:49:57 PM PDT · by sickoflibs · 38 replies
    AOL news ^ | Jul 5th 2014 | PAUL WISEMAN
    How does the U.S. economy do it? Europe is floundering. China faces slower growth. Japan is struggling to sustain tentative gains. Yet the U.S. job market is humming, and the pace of economic growth is steadily rising. Five full years after a devastating recession officially ended, the economy is finally showing the vigor that Americans have long awaited. Last month, employers added 288,000 jobs and helped reduce the unemployment rate to 6.1 percent, the lowest since September 2008. June capped a five-month stretch of 200,000-plus job gains - the first in nearly 15 years. After having shrunk at a 2.9...
  • What To Own As The U.S. Dollar Dies

    07/05/2014 11:52:55 AM PDT · by blam · 99 replies
    The Market Oracle ^ | 7-5-2014 | Dr. Steve Sjuggerud - Daily Wealth
    July 04, 2014DailyWealth Dr. Steve Sjuggerud writes: So... if the dollar "dies"... what do you do with your money? In yesterday's DailyWealth, we looked at "The Coming Death of the Dollar." But we didn't cover what you should do with your money to protect yourself. In Jim Rickards' book, The Death of Money, he has five recommendations. More specifically, he has an asset allocation of five different investments that have stood the test of time in previous inflations and deflations. Jim says this portfolio should offer "an optimal combination of wealth preservation under conditions of inflation, deflation, and social unrest......
  • Beijing, Seoul agree to direct trade in national currencies

    07/05/2014 3:44:33 AM PDT · by SkyPilot · 20 replies
    Voice of Russia ^ | 4 July 14 | Staff
    China designated a clearing bank in Seoul for yuan transactions in South Korea on Friday, coinciding with a visit by President Xi Jinping, as Beijing promotes greater use of its currency overseas, AFP reports. Read more: http://voiceofrussia.com/news/2014_07_04/Beijing-Seoul-agree-to-direct-trade-in-national-currencies-4477/ China's central bank has authorised the Bank of Communications, the country's fifth largest lender, to undertake yuan clearing business in the South Korean capital, the People's Bank of China (PBoC) said in a statement. The announcement came as Chinese President Xi Jinping wrapped up a state visit to South Korea on Friday. China is seeking to make the yuan - also known...
  • The Insiders: This month’s jobs headlines don’t tell the true story

    07/04/2014 6:03:26 PM PDT · by xzins · 9 replies
    Washington Post ^ | July 3 | Ed Rogers
    The headline of today’s jobs report, that 288,000 jobs were created in the last month, is positive. At least, it is better than a poke in the eye with a sharp stick. However, as with most economic reports these days, there is a veneer of good news — but when you look closer, the White House is using the positive headlines to hide the growing deterioration of the American workforce. Last month, 523,000 full-time jobs were lost, while 799,000 part-time jobs were added. Another way of looking at these numbers is that almost all of the 288,000 jobs created last...
  • The jobs report knows: Americans aren't planning to take a summer vacation

    07/04/2014 6:01:47 PM PDT · by GilGil · 17 replies
    theguardian.com ^ | 7/3/2014 | Jana Kasperkevic
    Economists and lawmakers view the jobs report as good news. The US economy gained 288,000 jobs, and the unemployment rate dropped to 6.1%. One economist even said the report is "as good an excuse as any to enjoy the weekend's fireworks." Yet as Americans struggle to make do with their stagnant wages and the bills that never seem to stop piling up, one thing has to go: vacations. So as businesses anticipate a slower summer, thousands of restaurant and hotel workers are left without work.