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Keyword: economy

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  • Day Of Reckoning: The Collapse Of The Too Big To Fail Banks In Europe Is Here

    02/08/2016 6:01:55 PM PST · by SkyPilot · 68 replies
    Economic Collapse ^ | 8 Feb 16 | Michael Snyder
    There is so much chaos going on that I don't even know where to start. For a very long time I have been warning my readers that a major banking collapse was coming to Europe, and now it is finally unfolding. Let's start with Deutsche Bank. The stock of the most important bank in the "strongest economy in Europe" plunged another 8 percent on Monday, and it is now hovering just above the all-time record low that was set during the last financial crisis. Overall, the stock price is now down a staggering 36 percent since 2016 began, and...
  • The Enduring Solidarity of Whiteness

    02/08/2016 4:08:01 PM PST · by 2ndDivisionVet · 53 replies
    The Atlantic ^ | February 8, 2016 | Ta-Nehisi Coates
    Black poverty is fundamentally distinct from white poverty--and so cannot be addressed without grappling with racism. There have been a number of useful entries in the weeks since Senator Bernie Sanders declared himself against reparations. Perhaps the most clarifying comes from Cedric Johnson in a piece entitled, "An Open Letter To Ta-Nehisi Coates And The Liberals Who Love Him." Johnson's essay offers those of us interested in the problem of white supremacy and the question of economic class the chance to tease out how, and where, these two problems intersect. In Johnson's rendition, racism, in and of itself, holds limited...
  • Texans For Fiscal Responsibility Endorses Ted Cruz

    02/08/2016 10:27:21 AM PST · by GodGunsGuts · 6 replies
    Breitbart ^ | February 8,1016 | MICHELLE FIELDS
    Texans for Fiscal Responsibility announced in a video and statement Monday its endorsement of Republican presidential candidate Sen. Ted Cruz (R-TX) cr 97%. "Ted Cruz is a principled, commonsense conservative who has done in Washington precisely what he said he was going to do," said Michael Quinn Sullivan, the president of TFR, in a video. "Ted Cruz has taken on the Washington establishment cartel of Democrats and liberal Republicans, unabashedly defending our constitutional liberties by promoting the principles of liberty." ...
  • Under Sanders, income and jobs would soar, economist says (not satire)

    02/08/2016 9:03:04 AM PST · by Signalman · 87 replies
    cnnmoney ^ | 2/8/2106 | Tami Luhby
    Median income would soar by more than $22,000. Nearly 26 million jobs would be created. The unemployment rate would fall to 3.8%. Those are just a few of the things that would happen if Bernie Sanders became president and his ambitious economic program were put into effect, according to an analysis given exclusively to CNNMoney. The first comprehensive look at the impact of all of Sanders' spending and tax proposals on the economy was done by Gerald Friedman, a University of Massachusetts Amherst economics professor. Friedman found that if Sanders became president -- and was able to push his plan...
  • Steve Forbes on Donald Trump and His 'Hoo-Ha'

    02/08/2016 4:30:07 AM PST · by Cincinatus' Wife · 77 replies
    The Street ^ | December 20, 2015 | Jeremy Greenfield
    Steve Forbes ran for president twice -- in 1996 and 2000 -- spending a reported $69 million of his own money in failed bids to win the Republican nomination. His campaigns mostly focused on establishing a flat income tax and other similar economic reforms. The multi-millionaire chairman and editor-in-chief of Forbes Media isn't running for president this time around, but he does have a new book out this week (Reviving America), promoting three big reforms he believes America should adopt: repeal and replace Obamacare with something akin to a free-market health-care system; scrapping the Federal income tax code in favor...
  • Donald Trump: Here's the one area where Bernie Sanders and I agree [WITH CHINA ON TPP]

    02/08/2016 2:50:05 AM PST · by expat_panama · 76 replies
    Business Insider ^ | February 8, 2016 | Maxwell Tani
    Donald Trump said Sunday that there's one issue on which he and Sen. Bernie Sanders (I-Vermont) agree: trade. In a CNN interview Sunday, Trump pointed out that he and Sanders both opposed the Trans-Pacific Partnership, the multinational trade agreement brokered by the Obama administration. The deal aims to reduce tariffs and put legal standards in place in the 12 participating countries. "The one thing we very much agree on is trade. We both agree that we are getting ripped off by China, by Japan, by Mexico, everyone we do business with," Trump said. But though the mogul suggested that he...
  • Dot-Com Bubble 2.0 Is Bursting: Tech Stocks Are Already Down Half A Trillion Dollars Since Mid-2015

    02/07/2016 8:06:36 PM PST · by SeekAndFind · 10 replies
    TEC ^ | 02/07/2016 | Michael Snyder
    Do you remember how much stocks went down when the first dot-com bubble burst? Well, it is happening again, and tech stocks are already down more than half a trillion dollars since the middle of 2015. On Friday, the tech-heavy Nasdaq dropped to its lowest level in more than 15 months, and it has now fallen more than 16 percent from the peak of the market. But of course some of the biggest names have fallen much more than that. Netflix is down 37 percent, Yahoo is down 39 percent, LinkedIn is down 60 percent, and Twitter is down more...
  • How Ted Cruz Could Deliver the Coup de Grace to Donald Trump

    02/07/2016 1:49:19 PM PST · by Cincinatus' Wife · 132 replies
    Intellectual Conservative ^ | February 7, 2015 | Ralph Benko
    Presidential elections are about, above all, just two things: our security and our prosperity. Promises of prosperity have all but faded into the background... except by Donald Trump. In the last debate in which he participated Donald Trump hit the voters' target bull's eye in stating "I want to use that same up here, whatever it may be, to make America rich again." None of the other candidates came close to featuring The Message we voters wish to hear. Prosperity. If the other candidates - most notably #2 Ted Cruz - wished to gain the voters' hearts, or at least...
  • Healthy Economic Growth Is Our Missing Ingredient

    02/07/2016 7:24:20 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | February 7, 2016 | Steve Chapman
    This year's Republican presidential race has generated an unusual number of unusually bad ideas -- Donald Trump on Muslims, Ted Cruz on carpet bombing, Marco Rubio on male footwear. It has also has produced one of the best: Jeb Bush's 4 percent plan. No, that wasn't his desired share of the vote in the Iowa caucus, where he got less than 3 percent. It's his goal for annual economic growth, which he argues would "restore the opportunity for every American to rise and achieve earned success." When Bush said last June, "There is not a reason in the world why...
  • Who Has the Best Tax Plan? - What gives Ted Cruz the edge

    02/07/2016 1:57:15 AM PST · by Cincinatus' Wife · 26 replies
    The American Spectator ^ | February 4, 2015 | Stephen Moore, economic consultant at Freedom Works and a Fox News contributor
    [snip]First, the Cruz plan would give America the lowest tax rates since the income tax was devised 100 years ago. For this reason, these plan are estimated by the Tax Foundation to grow the economy by a gigantic $2 trillion extra GDP per year after 10 years. That's exactly the opposite effect of the Hillary and Bernie show plans.Second, Cruz's plan eliminates almost all deductions and credits-which is how they get the rate so low. The IRS could be dramatically shrunk in size. Don't forget, when there are fewer deductions,there are fewer ways to cheat on your taxes. The lower...
  • Hillary Clinton Says Banning Fossil Fuel Extraction on Public Lands a 'Done Deal'

    02/06/2016 10:18:17 PM PST · by Cincinatus' Wife · 41 replies
    Washington Free Beacon ^ | February 6, 2015 | Ali Meyer
    Hillary Clinton said that banning fossil fuel extraction on public lands is a 'done deal,' the Hill reported. After Thursday night's Democratic debate in New Hampshire, an activist with the green group 350 Action asked Clinton whether she would support banning hydraulic fracturing if she were elected. While Clinton said the president doesn't have the authority to do that, she did say that supporting a ban on fossil fuel extraction on public lands was a done deal. "President Obama's Interior Department in January said it would halt new leases for coal mining on federal land while it figures out how...
  • Obama compares his work on the economy to his gym routine

    02/06/2016 2:54:59 PM PST · by MarvinStinson · 43 replies
    Washington Examiner ^ | 02/06/16 | Philip Klein
    President Obama on Friday compared his work to keep the U.S. economy churning to the extra effort he has to put into his physical workouts as he ages. We should feel good about the progress we've made, understanding that we have still got more work to do, Obama said Friday while speaking about news that unemployment in January dropped below 5 percent for the first time in eight years. It's sort of like … Im 54 now, so I have to work out harder to stay in shape, and, you know, if I'm feeling good in the gym, I want...
  • The 0.7 Percent "Solution"

    02/06/2016 9:15:33 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | February 6, 2016 | Paul Driessen
    America's abysmal 0.7% economic growth during the fourth quarter of 2015 meant the annual growth rate was an anemic 2.4% … and average annual growth for the six-year Obama era a pathetic 2.2 percent.This is "dead last compared to six other recession recoveries since 1960," Heritage Foundation economist Stephen Moore points out. They averaged a robust 4.0% while the Reagan era recovery averaged a "sizzling" 4.8% over six years. That means the Obama recovery lost $1.8 trillion (in constant 2009 money) that would have been pumped into the economy under an average recovery, and$2.8 trillion under a Reagan-style rebound, Moore says, citing a congressional...
  • Interview with Kevin D. Freeman on Economic Warfare and Terroism

    02/06/2016 7:12:44 AM PST · by Randall_S · 6 replies
    USA Transnational Report ^ | February 6, 2016 | USA Transnational Report
    USA Transnational Report for February 6, 2016 Interview with Kevin D. Freeman begins at 25:30 - Kevin D. Freeman is a NY Times bestselling author and considered one of the world's leading experts on the issues of Economic Warfare and Financial Terrorism. His research has been presented in critical DoD studies and he has been asked to brief or present to the FBI, DIA, ONA, SEC, Naval War College, HASC, Naval Postgraduate School, DARPA, IARPA, and a host of government agencies tasked with protecting America. We discuss economic warfare, cyberattacks, Russia, China, Syrian hackers, market volatility, and yesterday's announcement that...
  • Debt, defaults, and devaluations: why this market crash is like nothing we've seen before

    02/06/2016 6:42:17 AM PST · by SkyPilot · 61 replies
    The Telegraph ^ | 6 Feb 16 | Mehreen Khan,
    A pernicious cycle of collapsing commodities, corporate defaults, and currency wars loom over the global economy. Can anything stop it from unravelling? A global recession is on the way. This truism of economics holds at any point in which the world is not in the grips of a contraction. The real question is always when and how deep the upcoming downturn will be. "The crash will come, but it would be nice if it came two years from now", Thomas Thygesen, head of economics at SEB told over 200 commodity investors and analysts in London last month. His audience was...
  • President Barack Obama takes victory lap on economy

    02/05/2016 4:06:07 PM PST · by artichokegrower · 64 replies
    President Barack Obama on Friday used a new jobs report to continue his victory lap on the economy - and jab at the Republicans vying for his job. In brief remarks to reporters at the White House, Obama declared the U.S. has "the strongest, most durable economy in the world." He pointed to signs of wage and income growth, job growth, lower oil prices and increasing numbers of Americans with health insurance as evidence of that claim.
  • USA Transnational Report - Guest Kevin D. Freeman TOMORROW (2/6) 8 AM EST

    02/05/2016 6:20:09 PM PST · by Randall_S · 1 replies
    USA Transnational Report ^ | February 6, 2016 | USA Transnational Report
    SPECIAL INTERVIEW WITH KEVIN FREEMAN! Saturday (2/6) 8 AM EST!!! Kevin Freeman is a NY Times bestselling author and considered one of the world's leading experts on the issues of Economic Warfare and Financial Terrorism. His research has been presented in critical DoD studies and he has been asked to brief or present to the FBI, DIA, ONA, SEC, Naval War College, HASC, Naval Postgraduate School, DARPA, IARPA, and a host of government agencies tasked with protecting America. Topics of Discussion: >What is economic terrorism? >Can foreign enemies manipulate our stock market? >Are they doing it today? >Election & Economic...
  • Economic Problems Facing the U.S.

    02/05/2016 1:01:34 PM PST · by HarleyLady27 · 11 replies
    Economy In Crisis ^ | Nov. 12, 2015 | Thomas Heffner
    The United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this crisis, where it came from and how to stop it. While we persist in our superpower mentality, we have quietly become a second-class country in many respects.
  • Gold Surges Back Into The Green After $1.2 Billion Morning Plunge

    02/05/2016 12:47:53 PM PST · by amorphous · 4 replies
    Zero Hedge ^ | 5 Feb 2016 | Tyler Durden
    After someone decided to dump $1.2 billion notional in gold futures this morning as the jobs data hit - sparking a $20 tumble in the precious metal - it appears stock sellers are greatly rotating to the safety of bullion (over bonds)...
  • Citi: World economy seems trapped in 'death spiral'

    02/05/2016 12:08:31 PM PST · by HarleyLady27 · 28 replies
    CNBC ^ | Feb. 5, 2016 | Katy Barnato
    The global economy seems trapped in a "death spiral" that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned.
  • The $1 Trillion Elephant in the Room

    02/05/2016 11:32:27 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | February 5, 2016 | Gretchen Hamel
    In the midst of the election circus and pageantry, it seems once again fiscal policy issues have taken a backseat. This might not matter if the issue were not of dire importance to Americans and their futures. But on the heels of the new Budget and Economic Outlook released by the Congressional Budget Office (CBO) last week, it has become all too clear that the fiscal issues our country faces are very real and must be dealt with. Every year, this non partisan analysis of our projected debt and deficit published doesn't mince words- the deficit only continues to get...
  • Exclusive — 'It’s A Terrible Deal,' Donald Trump Says About Just-Signed Obamatrade

    02/05/2016 9:57:42 AM PST · by Syncro · 50 replies
    Breitbart/Big Government ^ | Feb 5. 2016 | Matthew Boyle
    Donald Trump, currently leading in New Hampshire polling ahead of this coming Tuesday's primaries, tells Breitbart News exclusively that the just-signed Trans Pacific Partnership (TPP) Pacific rim trade agreement is a "terrible deal." "It's like all deals that the United States makes under this president, it's a terrible deal," Trump said when asked to react to the news that President...Obama's U.S. Trade Representative just inked the deal officially in Auckland, New Zealand. It's going to allow countries to continue to take advantage of us and take our jobs, take our trade. It's bad for us. It'll allow China to come...
  • What jobs? BLS says 665,000 job LOSSES

    02/05/2016 9:41:02 AM PST · by Enlightened1 · 34 replies
    Washington Examiner ^ | 02/05/16 | Paul Bedard
    New Bureau of Labor Statistics shows that there were 665,000 jobs lost in January, a blunt finding that confuses the heralded report that 151,000 jobs were created in January in non-farm payrolls. But who got them? The very same BLS finds that jobs to "native born" and immigrant workers dropped. Ditto for men and women. It is possible that many employees took on a second job, according to analysts. But a difference of 816,000 is too big, one said. Same for the differences in the two surveys the BLS uses to gauge jobs, household data from the Current Population Survey,...
  • Citi: World economy trapped in ‘death spiral’

    02/05/2016 8:50:37 AM PST · by Enlightened1 · 39 replies
    CNBC ^ | 02/05/16 | Katy Barnato
    The global economy seems trapped in a "death spiral" that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some analysts -- including those at Citi -- have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S. "The world appears to be trapped in a circular reference death spiral," Citi strategists led by Jonathan Stubbs said in a report on Thursday. "Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global...
  • The War On Savers And The 200 Rulers Of Global Finance

    02/05/2016 8:44:15 AM PST · by amorphous · 6 replies
    David Stockman's Contra Corner ^ | 4 Feb 2016 | David Stockman
    There has been an economic coup d'etat in America and most of the world. We are now ruled by about 200 unelected central bankers, monetary apparatchiks and their minions and megaphones on Wall Street and other financial centers. Unlike Senator Joseph McCarthy, I actually do have a list of their names. They need to be exposed, denounced, ridiculed, rebuked and removed. The first 30 includes Janet Yellen, William Dudley, the other governors of the Fed and its senior staff. The next 10 includes Jan Hatzius, chief economist of Goldman Sachs, and his counterparts at the other major Wall Street banking...
  • Unleashing the Global Competitiveness of the U.S. (US 51 OF 140 IN REGULATIONS]

    02/05/2016 4:15:23 AM PST · by expat_panama · 8 replies
    Real Clear Markets ^ | February 5, 2016 | Pinar Cebi Wilber
    Following the World Economic Forum's wrap up of its recent annual meeting in Davos, Switzerland, U.S. policymakers should return with strategies for strengthening America's economic growth and augmenting our global competitiveness. A pessimism for global economic growth was a pervasive mood among CEOs at Davos, and the U.S. can demonstrate leadership by adopting some critical policy prescriptions to accelerate growth. They should begin with lowering America's corporate tax rate - currently the highest among the OECD and BRIC countries at 39 percent (combined federal and state) - and reducing the excessive regulations that hamper innovation, stifle productivity, and exhaust capital...
  • World's Biggest Containership "Hard Aground" As Baltic Dry Crashes Below 300 For First Time Ever

    02/05/2016 1:04:48 AM PST · by blam · 54 replies
    Zero Hedge ^ | 2-5-2016 | Tyler Durden
    Tyler DurdenFebruary 5, 2016) Before this year the lowest level The Baltic Dry Index had reached was 556 in August of 1986 and the highest was in June 2008 at a stunning 11,612. Today saw the freight index hit a new milestone however, crashing through the 300 barrier for the first time ever - at 298, this is almost 50% below the previous record low.Commodities obviously are saying something very different from "the market"...> And as Dana Lyons notes, of course much of the input into the BDI comes from the price of raw materials. Considering the deflationary spiral in...
  • Britain To Foreign Workers: If You Don't Make $50,000 A Year, Please Leave

    02/04/2016 10:10:57 AM PST · by Theoria · 14 replies
    NPR ^ | 03 Feb 2016 | Leila Fadel
    Britain's Prime Minister David Cameron promised back in 2010 to bring net migration down to 100,000 people a year. Six years later, it's more than three times that number. That's one reason the government's Home Office decided that non-Europeans on skilled worker visas -- known as Tier 2 visas -- are not welcome to stay unless they are making at least 35,000 British pounds (about $50,000 a year). The message is aimed at slashing migration to Britain and goes into effect in April. But critics call the new rule discriminatory and say it will strip Britain of lower-paid artists, health...
  • Is The Fed "Seriously Considering" Negative Interest Rates?

    02/04/2016 9:57:02 AM PST · by Former Proud Canadian · 36 replies
    Zerohedge ^ | February 4, 2016 | Tyler Durden
    The Fed may "seriously consider" negative rates after moving rates back to zero, reintroducing forward guidance and making "stronger pleas" to Congress for fiscal policy action as there are complications for money markets, according to BofAML strategist Mark Cabana. This would not be a total surprise as Mises Institute's Joseph Salerno warns recent Fed commentary suggests they want to test-drive negative interest rates... In 2016, the Fed's annual stress test on banks will include a scenario in which the interest rate on the three-month U.S. Treasury bill becomes negative in the second quarter of 2016 and then declines to -0.5%,...
  • America’s Economy Is Now Just ‘Mostly’ Free? Washington Needs to Back Out of the Marketplace

    02/04/2016 8:49:42 AM PST · by SeekAndFind · 6 replies
    National Review ^ | 02/04/2016 | By Ben Sasse & Jim DeMint
    The land of the mostly free and the home of the brave." That sounds wrong, and it is. But "mostly free" is how the U.S. economy rates in the recently released 2016 Index of Economic Freedom. This is bad news for Americans in general, and especially unfortunate for our poorest, most vulnerable citizens. A joint research product of the Heritage Foundation and the Wall Street Journal, the Index measures the economic freedom of nations based on ten criteria, including the rule of law, size of government, regulatory efficiency, and market openness. These factors affect how easily Americans from Nebraska to...
  • It's Still the Economy, Stupid

    02/04/2016 4:20:36 AM PST · by expat_panama · 25 replies
    Real Clear Markets ^ | February 4, 2016 | Robert Samuelson
    In 1992, James Carville popularized the adage "It's the economy, stupid." If the economy is ailing, people tend to vote against the party in the White House. That happened in the 1992 election. A recession that started in 1990 was officially over, but it didn't seem over to millions of Americans. They sent President George H.W. Bush into retirement. The question now is whether something similar will happen in 2016. All eyes are on New Hampshire, but maybe we should be paying more attention to the economy. Along with the volatile stock market, recent indicators hint at a slowdown or...
  • Federal Debt Just Exceeded $19 Trillion: $58,000 for Each Person in U.S.

    02/03/2016 2:41:30 PM PST · by Olog-hai · 43 replies
    Cybercast News Service ^ | February 3, 2016 | 10:18 AM EST | Romina Boccia
    On Monday the U.S. national debt hit a new record: $19,012,827,698,418. This is the first time the national debt has ever exceeded $19 trillion. That's more than $58,000 for each person who lives in the U.S. today (including children). The main culprit behind the rising deficits and debt is growing federal spending--especially among Social Security, Medicare, Medicaid, and Obamacare. Traditionally, Congress has set a limit for how much debt the U.S. may take on, known simply as the debt limit. But rather than put a higher limit on the debt, lawmakers and the president have repeatedly suspended the debt limit,...
  • Dow jumps 150 as oil surges 8 pct

    02/03/2016 11:48:47 AM PST · by Citizen Zed · 10 replies
    cnbc ^ | 2-3-2016 | Fred Imbert
    U.S. stocks attempted a massive comeback on Wednesday as oil prices recovered. West Texas Intermediate gained about 8 percent higher in choppy trade after the Energy Information Administration said U.S. inventories rose by 7.8 million barrels last week. Crude prices briefly erased gains following the data release, but surged on a weaker dollar. The dollar traded 1.77 percent lower against a basket of currencies, with the euro gaining 1.5 percent against the greenback, as weak U.S. services data suggested another Federal Reserve rate hike seems more unlikely. "I ... believe oil will dictate stock prices," said Peter Cardillo, chief market...
  • Ted Cruz on what the Iowa victory means to him (and how absolutely EVIL Washington has become)

    02/03/2016 10:11:31 AM PST · by GodGunsGuts · 22 replies
    YouTube ^ | February 2, 2016
    "They would rather Hillary Clinton, they would rather bankrupt our kids and grandkids, they'd rather lose the Supreme Court for a generation, they'd rather see our religious liberties stripped away, our Second Amendment taken away, they would rather see Islamic terrorism continue to rise and Israel continue to be under assault than actually have a true Reagan conservative in the White House who believes what he says. That shows just how messed up Washington is, but it also shows why frustration is volcanic."...
  • Here's Why You Should Buy Gold Ahead Of The 2016 Election

    02/03/2016 9:10:05 AM PST · by blam · 26 replies
    BI ^ | 2-3-2016 | Jared Dillian
    Jared Dillian, Mauldin EconomicsJanuary 3, 2016 Long before I started writing for Mauldin Economics, I was a gold bull. A mega-gold bull. This started in 2005. I was making markets in ETFs at the time and—as head of the ETF desk at Lehman Brothers—I signed the firm up to be one of the early authorized participants in the SPDR Gold Shares fund (GLD). I was pretty excited. It may seem quaint now, but at the time there really wasn’t an easy way to invest in gold outside of coins or bars (high transaction costs, cumbersome) or futures (high barriers to...
  • Private Interests and Public Money

    02/03/2016 4:19:25 AM PST · by expat_panama · 1 replies
    American Thinker ^ | February 3, 2016 | Gideon Isaac
    One of the extraordinary developments in the current presidential campaign is that the front runners on both the Democrat and the Republican side are emphasizing their opposition to the "special interests"... A central belief of Bernie Sanders... On the Republican side, Donald Trump claims his political rivals are indebted to special interest groups, whereas he, a billionaire, doesn't need to take money from anyone. Hillary Clinton will not be outdone... The problem with these candidates who promise to fight the special interests is that they are creating more special interests... To Trump it's simple. He believes it is in the...
  • Column - Norma White: You want change? Try these ideas

    02/02/2016 11:27:50 AM PST · by pilgrim · 41 replies
    Amarillo Globe ^ | October 21, 2008 | Norma White
    Here are a few that I believe all Americans want. Limit Congress from serving more than two terms. That is all that presidents are allowed. Stop Congress from voting for their own raises. How did that ever get started? Stop paying for lawmakers' high-priced insurance premiums. After all, they are only part-time employees. They might pass some law changes on the insurance companies, if they had to find one. Stop paying lawmakers their full salary after serving just one term, or at retirement. We need to get rid of that pension plan; they've let other companies get rid of theirs....
  • Lawrence Kudlow: Fed Freaks Out About Markets It’s Unable To Read

    02/02/2016 3:57:48 AM PST · by expat_panama · 33 replies
    Investors Business Daily ^ | Feb. 1, 2016 | LAWRENCE KUDLOW
    Early in the new year, on Sunday, Jan. 3, Federal Reserve Vice Chairman Stanley Fischer delivered a hawkish speech to the American Economic Association. Completely misreading the economy, which is woefully weak while inflation is virtually nil, Fischer strongly hinted that the Fed would be raising its target rate by a quarter of a percent every quarter for the next three years. The next day, Standard & Poor's 500 index dropped 1.5%. In the week that followed, the broad index fell 6%. The week after that, it fell over 2%. During that two-week period, the Dow Jones dropped 1,437 points....
  • The End Of Plan A: The Big Reset & $8000 Gold

    02/01/2016 3:14:38 PM PST · by blam · 55 replies
    Zero Hedge ^ | 2-1-2016 | Tyler Durden
    Tyler DurdenFebruary 1, 2016 Willem Middlekoop, author of The Big Reset – The War On Gold And The Financial Endgame, believes the current international monetary system has entered its last term and is up for a reset. Having predicted the collapse of the real estate market in 2006, (while Ben Bernanke didn't), Middlekoop asks (rhetorically) -can the global credit expansion 'experiment' from 2002 – 2008, which Bernanke completely underestimated, be compared to the global QE 'experiment' from 2008 – present? - the answer is worrisome. In the following must-see interview with Grant Williams, he shares his thoughts on the future...
  • California of the Dark Ages

    02/01/2016 10:15:14 AM PST · by afraidfortherepublic · 57 replies
    PJ Media ^ | 1-31-16 | Victor Davis Hanson
    <p>I recently took a few road trips longitudinally and latitudinally across California. The state bears little to no resemblance to what I was born into. In a word, it is now a medieval place of lords and peasants-and few in between. Or rather, as I gazed out on the California Aqueduct, the Golden Gate Bridge and the San Luis Reservoir, I realized we are like the hapless, squatter Greeks of the Dark Ages, who could not figure out who those mythical Mycenaean lords were that built huge projects still standing in their midst, long after Lord Ajax and King Odysseus disappeared into exaggeration and myth. Henry Huntington built the entire Big Creek Hydroelectric Project in the time it took our generation to go to three hearings on a proposed dam.</p>
  • If Obama Were A Company CEO, Would He Still Have His Job?

    02/01/2016 7:42:09 AM PST · by SeekAndFind · 23 replies
    IBD ^ | 02/01/2016
    With real GDP growth last year coming in at 2.4%, President Obama has now managed to miss every single growth target he'd set for himself since taking office. If a CEO performed that badly, his reputation would be in ruins. When Obama came into office, he would often publicly complain about CEOs being paid too much. "What gets people upset -- and rightfully so -- are executives being rewarded for failure," he said at press conference in early 2009. Later he opined that "the compensation packages that we've seen over the last decade at least have not matched up always...
  • U.S. Economy Ran Out Of Gas In Q4; Will Consumers Spend In 2016?

    02/01/2016 5:17:25 AM PST · by expat_panama · 30 replies
    Investors Business Daily ^ | 1/29/2016 | CIARAN MCEVOY
    Economic growth decelerated sharply in the second half of 2015 due to the usual suspects: global headwinds, destockpiling and a slumping energy sector. Gross domestic product expanded at a glacial 0.7% annual rate in the fourth quarter, down from gains of 2% in Q3 and 3.9% in Q2, the Commerce Department said Friday. But a recession is highly unlikely, according to most economists, saying consumers will keep the economy plodding along at the so-so pace the country has seen since the Great Recession ended in 2009. Despite some big swings over the past several quarter, GDP grew 2.4% for all...
  • Bloomberg Op-Ed Calls For An End Of Cash

    01/31/2016 10:57:04 PM PST · by MarchonDC09122009 · 173 replies
    Zerohedge.com ^ | 01/31/2016 | Tyler Durden
    So It Begins: Bloomberg Op-Ed Calls For An End Of Cash http://www.zerohedge.com/news/2016-01-31/bloomberg-op-ed-calls-end-cash So It Begins: Bloomberg Op-Ed Calls For An End Of Cash Submitted by Tyler Durden on 01/31/2016 In a moment of curious serendipity, a little over 90 minutes after we showed what a dystopian, centrally-planned, cashless society unleashed in a negative interest rate world would look like ("by forcing people and companies to convert their paper money into bank deposits, the hope is that they can be persuaded (coerced?) to spend that money rather than save it because those deposits will carry considerable costs"), and briefly after we...
  • United Nations Group Says US Should Give Reparations to African Americans

    01/31/2016 8:08:17 PM PST · by 2ndDivisionVet · 97 replies
    U.S. Uncut ^ | January 31, 2016 | Dylan Sevett
    During a recent visit to the United States, a United Nations (UN) working group has said that the US should consider giving long overdue reparations to descendants of slaves. The group also suggests the US government establish a national human rights commission, and publicly acknowledge that the Transatlantic Slave Trade was a crime against humanity. The UN working group, called "Experts on People of African Descent," went on a fact-finding mission, which included meetings with African-Americans from multiple cities, including Baltimore, New York, and Chicago. Although they won't release their full report until September, each member read a statement to...
  • Tobacco giant Altria announces layoffs to cut costs (490+)

    01/30/2016 10:22:25 PM PST · by 2ndDivisionVet · 8 replies
    Market Watch ^ | January 28, 2016 | Tripp Mickle and Chelsey Dulaney
    U.S. tobacco giant Altria Group Inc. MO, +2.48% on Thursday said it would cut roughly 5% of its workforce in an effort to reduce costs by $300 million annually as industry volumes decline. The Marlboro maker announced the layoffs on the same day it reported profit and revenue for the fourth quarter that missed Wall Street expectations as cigarette shipments slipped and earnings declined from its stake in SABMiller PLC's beer business. Altria's earnings rose slightly to $1.25 billion, or 64 cents a share, from $1.24 billion, or 63 cents a share, a year earlier. The results foreshadowed some of...
  • Trump on Trade: Only Candidate Talking About the Most Important Issue to U.S. Economic Future

    01/30/2016 8:06:20 PM PST · by vekzen · 56 replies
    breitbart ^ | 1/30/16 | vekzen
    DES MOINES, Iowa — Donald J. Trump, a billionaire and currently the front-running 2016 GOP presidential candidate, made the case exclusively to Breitbart News on Saturday that the only way to stop Obamatrade is to elect him President of the United States. Obamatrade is the combination of and intersection between the Trade Promotion Authority (TPA), which passed Congress last year and greases the skids for the congressional approval of various trade deals by lowering U.S. Senate vote thresholds from 60 votes to 51 votes and killing the ability of Congress to amend those deals, and those various trade deals.
  • The Fed Is Freaked Out about the Financial Markets -- Because It's Misreading the Situation

    01/30/2016 3:04:49 PM PST · by Kaslin · 32 replies
    Townhall.com ^ | January 30, 2016 | Larry Kudlow
    Early in the new year, on Sunday, January 3, Federal Reserve vice chair Stanley Fischer delivered a hawkish speech to the American Economic Association. Completely misreading the economy, which is woefully weak while inflation is virtually nil, Fischer strongly hinted that the Fed would be raising its target rate by a quarter of a percent every quarter for the next three years. The next day the S&P 500 dropped 1.5 percent. In the week that followed, the broad index fell 6 percent. The week after that it fell over 2 percent. During that two-week period, the Dow Jones dropped 1,437...
  • D.C. Minimum-Wage Woes Grow As Wal-Mart Balks

    01/30/2016 12:57:16 PM PST · by Jim 0216 · 59 replies
    Investor's Business Daily, ^ | 1/16/2016 | JED GRAHAM
    Washington, D.C., is beginning to look like a cautionary example of what can happen when bastions of liberalism throw caution to the wind in raising the minimum wage. As IBD recently reported, the nation's capital is now losing about 700 jobs a year at restaurants, hotels and other leisure and hospitality sector venues. That's a sharp reversal from the gain of 2,000 such jobs per year the city was enjoying before it hiked the minimum wage by 27%, first from $8.25 to $9.50 an hour in July 2014 and then to $10.50 in July 2015. Now, as D.C. employers brace...
  • Anyone else feel anxious as world collapses before our eyes?

    01/30/2016 10:27:55 AM PST · by Randall_S · 123 replies
    Me ^ | January 30, 2016 | Randall S
    Consider the following: - The Democrats have no viable candidates, and one very well may be indicted - The Republican Party is imploding/being made irrelevant by Trump - The country has no borders - The Middle East and North Africa are in chaos - Fox News and many conservative pundits have lost respect of their audiences - Europe is being fundamentally changed by an Islamic invasion, and is tilting toward civil war - The "Pope" has more interest in Palestinians than he does Catholics - The world economy is as shaky today as it was in 2008 Any other seismic...
  • Helicopter Money Arrives: Switzerland To Hand Out $2500 Monthly To All Citizens

    01/29/2016 5:25:06 PM PST · by blam · 38 replies
    Zero Hedge ^ | Tyler Durden
    Tyler DurdenJanuary 29, 2016 With Citi's chief economist proclaiming "only helicopter money can save the world now," and the Bank of England pre-empting paradropping money concerns, it appears that Australia's largest investment bank's forecast that money-drops were 12-18 months away was too conservative. While The Finns consider a "basic monthly income" for the entire population, Swiss residents are to vote on a countrywide referendum about a radical plan to pay every single adult a guaranteed income of around $2500 per month, with authorities insisting that people will still want to find a job. The plan, as The Daily Mail reports,...