Keyword: economy

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  • Fact Check: Are Americans “better off” since Obama took office?

    09/02/2014 4:50:28 PM PDT · by nhwingut · 19 replies
    Politipage ^ | 09/02/14 | Jon Fitzpatrick
    President Obama appeared at a Labor Day event in Milwaukee, Wisconsin, where he told a crowd of union supporters that "American workers and the American economy are better off since I became president."Since it is widely acknowledged that Americans have given Obama record setting disapproval numbers relative to his handling of the U.S. economy - we decided to fact check this statement. First let's review how America feels about this statement. According to the latest Gallup poll, a mere 35% of the country approves of Obama's handling of the economy. NBC News/Wall St Journal reported the same 35% (with 71%...
  • Why Some Americans Are More Equal Than Others

    09/02/2014 4:21:07 PM PDT · by 2ndDivisionVet · 24 replies
    The Daily Beast ^ | September 2, 2014 | Jedediah Purdy
    Americans pride themselves on an egalitarian society open to all. But some equality and inequality exist uneasily side by side. And the U.S. has never resolved this contradiction.If the world is lucky enough to produce historians of the early 21st century, one question seems certain to grab their attention. How did so much equality coexist with so much inequality? Economic inequality—the difference between the richest and the poorest, or between the rich and everyone else —has reached some of its highest levels ever, both in the U.S. and at around the world. Yet our time is also marked by a...
  • Improving economy won't help Dems

    09/02/2014 5:37:36 AM PDT · by SeekAndFind · 15 replies
    American Thinker ^ | 09/02/2014 | Rick Moran
    Vulnerable Democrats casting about desperately for a boost to their campaigns won't be able to use a slightly improving economy as a lifeline, according to several recent polls.The fact is, voters don't care about the raw economic numbers - not when their personal financial situation is still bad. The Hill: But with just a handful of big economic reports left before Election Day, the economic picture is largely in place. And while the outlook is bright, voters continue to hold a dim view of their own financial prospects.  “There are still a lot of families playing catch-up,” said Jared Bernstein...
  • Obama on Labor Day touts economic gains under his leadership, is mum on pressing world concerns

    09/01/2014 4:06:33 PM PDT · by jazusamo · 24 replies
    Fox News ^ | September 1, 2014
    President Obama used Labor Day to tout the country’s economic gains under his leadership and make an election-year case that higher wages and other progress for workers can only be achieved through a Democrat-controlled Congress. “American workers and the American economy are better off since I took office,” Obama told a crowd filled with union supporters at the annual Laborfest event in Milwaukee. “I’m not asking for the moon. I’m asking for policies that help folks get ahead. … Republicans running Congress are opposed to them.” At one point in the speech, Obama enthusiastically told the crowd: “If I were...
  • Obama: ‘Revving’ economy calls for higher wages

    09/01/2014 3:11:32 PM PDT · by Olog-hai · 88 replies
    Associated Press ^ | Sep 1, 2014 4:50 PM EDT | Jim Kuhnhenn
    President Barack Obama renewed his push for Congress to raise the minimum wage Monday in a buoyant accounting of the economy’s “revving” performance, delivered on behalf of Democrats opening their fall campaigns for the midterm congressional elections. “America deserves a raise,” he told a union crowd in Milwaukee, vowing to keep a hard sell on Congress in much the way he once courted his wife. “I just wore her down,” he cracked. Timing his push to Labor Day, the traditional start of the autumn campaign, Obama aggressively drew attention to recent economic gains, setting aside past caution on that subject....
  • Markets Set To Surge On Global Manufacturing PMI Bloodbath

    09/01/2014 10:00:56 AM PDT · by blam · 6 replies
    Zero Hedge ^ | 9-1-2014 | Tyler Durden
    Tyler DurdenSeptember 1, 2014If last week's disappointing global economic data, that saw Brazil added to the list of countries returning to outright recession as Europe Hamletically debates whether to be or not to be in a triple-dip, was enough to push the S&P solidly above 2000, even if on a few hundreds ES contracts (traded almost exclusively between central banks), then the overnight massacre of global manufacturing PMIs - when not one but both Chinese PMIs missed spurring calls for "more easing" and pushing the SHCOMP up 0.83% to 2,235.5 - should see the S&P cross Goldman's revised year end...
  • Economic Forecasts for the Week of September 1st and 8th

    09/01/2014 9:21:19 AM PDT · by Kaslin
    Townhall.com ^ | September 1, 2014 | Peter Morici
    Here are my forecasts for upcoming economic data. Forecast Prior Observation Consensus Week of September 1 September 1 Labor Day September 2 Markit PMI Manufacturing Index - August 57.5 55.8 57.8 ISM (Mfg) - August 57.1 57.1 56.8 ISM Prices 58.0 59.5 58.0 Construction Spending - July 0.8% -1.8 0.9 September 3 Auto Sales* - August 16.60M 16.48 16.60 Car Sales 8.00 8.00 Truck Sales 8.60 8.49 *SAAR, as published by Motor Intelligence ADP Employment Report - August 120K 218 223 Factory Orders - June 11.1% 1.6 10.9 Durable Goods Orders Nondurable Goods Orders September 4 Initial Unemployment Claims 302K...
  • Several Swiss banks pull out of U.S. tax program: paper

    09/01/2014 5:46:49 AM PDT · by Beave Meister · 22 replies
    Yahoo.com ^ | 8/31/2014 | Reuters
    ZURICH (Reuters) - At least 10 Swiss banks have withdrawn from a U.S. program aimed at settling a tax dispute between them and the United States, Swiss newspaper NZZ am Sonntag said on Sunday, quoting unnamed sources. Around 100 Swiss banks came forward at the end of last year to work with U.S. authorities in a program brokered by the Swiss government to help the banks make amends for aiding tax evasion. "At least 10 banks that had decided at the end of 2013 to pay a fine have withdrawn their decision," NZZ am Sonntag said, quoting unnamed lawyers and...
  • Indian-Americans Pay A Price For Running Convenience Stores (Diaspora Feature)

    08/31/2014 8:55:30 PM PDT · by 2ndDivisionVet · 25 replies
    Silicon India News ^ | August 31, 2014
    Back in 2006, Joe Biden, then a Senate candidate ran into trouble for a remark that "you cannot go to a 7-Eleven or a Dunkin' Donuts unless you have a slight Indian accent." Gaffe-prone Biden got away by explaining that it wasn't a racial slur but "was meant as a compliment" for the "vibrant Indian-American community" making "a significant contribution to the national economy as well." A spin or not, Biden who went on become vice president in 2008, was speaking a home truth as according to the Asian-American Convenience Store Owners Association its 50,000 members own over 80,000 convenience...
  • The Forgotten Man Graphic Edition: A New History of the Great Depression

    08/31/2014 12:54:32 PM PDT · by SoFloFreeper · 11 replies
    amazon ^ | Amity Shlaes
    An illustrated edition of Amity Shlaes’s #1 New York Times bestseller, featuring vivid black-and-white illustrations that capture this dark period in American history and the men and women, from all walks of life, whose character and ideas helped them persevere. This imaginative illustrated edition brings to life one of the most devastating periods in our nation’s history—the Great Depression—through the lives of American people, from politicians and workers to businessmen, farmers, and ordinary citizens. Smart and stylish, black-and-white art from acclaimed illustrator Paul Rivoche provides an utterly original vision of the coexistence of despair and hope that characterized Depression-era America....
  • Krauthammer: You can't have it your way, Obama

    08/31/2014 11:39:22 AM PDT · by upchuck · 41 replies
    Amarillo.com ^ | Aug 29, 2014 | Charles Krauthammer
    <p>The Obama administration is highly exercised about “inversion,” the practice by which an American corporation acquires a foreign company and moves its headquarters out of the U.S. to benefit from lower tax rates abroad.</p> <p>Not fair, says President Barack Obama. It’s taking advantage of an “unpatriotic tax loophole” that hardworking American families have to make up for by the sweat of their brow. His treasury secretary calls such behavior a violation of “economic patriotism.”</p>
  • zuckerman: obama ‘has lost the confidence of the business community’

    08/30/2014 5:45:29 PM PDT · by Hojczyk · 34 replies
    Breitbart TV ^ | August 30,2014
    US News and World Report Chairman and Editor-in-Chief and publisher of The New York Daily News, Mort Zuckerman argued that President Obama “has lost the confidence of the business community” on Friday’s broadcast of “The McLaughlin Group.” “[The economy] has...grown by about 2%, 2.1%, for the last five years, which is the lowest rate of growth coming out of a recession we have had ever, since the Great Depression. And what’s more, that only took place, not because of the fact that the economic environment was that good, it's because we have a hugely stimulating monetary policy and fiscal policy....
  • Slow wage growth threatens California economic recovery, report finds

    08/31/2014 3:27:10 AM PDT · by blueplum · 15 replies
    Los Angeles Times ^ | August 30, 2014 11:45pm | Chris Kirkam
    California’s economic recovery has featured a growing share of lower-wage jobs, raising concerns about the opportunities for middle-class workers hit hard by the Great Recession, a new analysis finds. The California Budget Project, a nonprofit economic research group, analyzed decades of state labor data to find that low- and middle-wage workers have seen significant pay declines over the last decade. Local and state government jobs -- traditionally a reliable source of middle-class employment -- have been particularly slow to recover. -snip- Looking ahead, low-wage jobs are forecast to be one of the fastest-growing segments of the workforce. The state expects...
  • Investment & Finance Thread (Labor Day week edition)

    08/30/2014 3:08:28 PM PDT · by expat_panama · 38 replies
    Weekly investment & finance thread ^ | Aug. 29, 2014 | Freeper Investors
    This morning looking in today's Real Clear MarketsGet I got a real kick out of this link that appeared :  Kick Off Labor Day Weekend With Some Depressing Charts - Quartz.   What the Quartz guys were wetting their pants over was how employee pay % total Gross Domestic Income was falling.  Here's a plot of the numbers they stole from the American Tax Payer supported BEA.gov: (Note: Freepers can't post Quartz articles because of an alleged copyright complaint)      Apparently what's really got them upset is that the evil capitalist is exploiting the American Worker and the the share for evil...
  • Ready for the robot revolution?

    08/29/2014 7:37:06 PM PDT · by 2ndDivisionVet · 23 replies
    Computerworld ^ | Ahmed Banafa
    Progress in robotics, from drones to medical applications, is starting to come at a fast clip. Do you want your robot to cook your food, or just deliver it?The days of drones filling the sky and robots roaming in our streets are not far removed from reality anymore, and scenes from movies like Star Wars, Minority Report and I, Robot will be common soon. Just consider some of the ways that robots have started to permeate our lives. Start with Amazon, which is taking to drones in a big way. The online shopping giant started a new phase in high-tech...
  • New Black agenda: Economic empowerment

    08/29/2014 1:26:22 PM PDT · by 2ndDivisionVet · 23 replies
    Insight News ^ | August 7, 2014 | Hazel Trice Edney
    The winner of the U. S. Minority Business Development Agency's (MBDA) Lifetime Achievement Award says the economic fate of America's Black community "hangs in the balance" because "we are a fourth quarter people". Michael Grant, president of the National Bankers Association and its foundation, says, "Unlike our Hispanic and Asian brothers and sisters, we had to spend the first three quarters just getting in the game...So you see, all things being equal, our ethnic counterparts came to the game with a different mindset, a different set of circumstances, a different self-image, and already with some capital from back home." Grant...
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • New Security Breach at Metcalf Substation, Site of 2013 Sniper Attack

    08/29/2014 7:58:53 AM PDT · by KeyLargo · 10 replies
    NBC Bay Area ^ | Aug 28, 2014 | Scott Pham and Cheryl Hurd
    New Security Breach at Metcalf Substation, Site of 2013 Sniper Attack By Scott Pham and Cheryl Hurd More than a year after a major sniper attack at an electrical substation near San Jose, a new security breach has PG&E asking the public for help. Cheryl Hurd reports. Thursday, Aug 28, 2014 • Updated at 7:27 AM PDT More than a year after a major sniper attack at an electrical substation near San Jose, a new security breach has PG&E asking the public for help. PG&E officials said burglars stole construction equipment from the Metcalf Substation. The security breach happened at...
  • Census figures show more than one-third of Americans receiving welfare benefits

    08/28/2014 4:00:52 PM PDT · by Oldeconomybuyer · 11 replies
    FOX News ^ | August 28, 2014 | By Mike Emanuel
    Fifty years after the “war on poverty” was first waged, there are signs a new offensive is needed. Newly released Census data reveals nearly 110 million Americans – more than one-third of the country – are receiving government assistance of some kind. The number counts people receiving what are known as “means-tested” federal benefits, or subsidies based on income. This includes welfare programs ranging from food stamps to subsidized housing to the program most commonly referred to as “welfare,” Temporary Assistance for Needy Families. At the end of 2012, according to the stats, 51.5 million were on food stamps, while...
  • U.S. GDP Grew 4.2% In The Second Quarter 2014, Up From Prior Estimate

    08/28/2014 8:30:21 AM PDT · by SeekAndFind · 31 replies
    Forbes ^ | 08/28/2014
    On Thursday, the Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter of 2014 — covering April, May and June of this year. The release showed output in the U.S. increasing at an annual rate of 4.2%. This is relative to the first quarter when real GDP declined a sharp 2.1%. The revision is up marginally from BEA’s 4% advance estimate released last month. The revision, BEA said in a release, was largely due to a larger than previously estimated increase in nonresidential fixed investment. However, the increase in private inventory investment...
  • It Begins: "Central Banks Should Hand Consumers Cash Directly"

    08/28/2014 6:53:33 AM PDT · by Mechanicos · 55 replies
    Zero Hedge ^ | 08/26/2014 | Tyler Durden
    ... The reasoning was very simple: in a country (and world) drowning with debt, there are only two options to extinguish said debt: inflate it away or default. Anything else is kicking the can while making the problem even worse. ... Moments ago a stunning article appearing in the "Foreign Affairs" publication of the influential and policy-setting Council of Foreign Relations, titled "Print Less but Transfer More: Why Central Banks Should Give Money Directly to the People." ... In it we read the now conventional admission of failure by Keynesians, who however, unwilling to actually admit they have been wrong,...
  • St. Louis County Seeks FEDERAL BAILOUT for More Than 100 BUSINESSES Harmed During #Ferguson Riots

    08/27/2014 4:09:28 PM PDT · by 2ndDivisionVet · 37 replies
    Gateway Pundit ^ | August 27, 2014 | Jim Hoft
    On Saturday August 9, 2014, 18 year-old Michael Brown was shot to death by a Ferguson police officer after he had earlier robbed a local convenience store. As a result of his death protesters in Ferguson have caused mass destruction in the community. Several dozen businesses were damaged in the looting and violence. Here is an interactive map of the attacks, shootings, lootings, and destruction. Many of the local businesses were looted not just once, but twice. Now this… St. Louis County officials are discussing disbursement of federal aid to the more than 100 businesses that suffered financial losses during...
  • Fed Vice Chairman Warns: Your Bank May Seize Your Money to Recapitalize Itself

    08/27/2014 8:27:26 PM PDT · by Kartographer · 22 replies
    SHTF Plan ^ | 8/27/14 | Mac Slavo
    At the height of the financial crisis in 2008 the U.S. government forced some of the countries largest banks to take “bailout” funds amounting to billions of dollars in order to keep them from going bankrupt. It was a move designed to not only keep too-big-to-fail financial institutions afloat, but one that would inspire confidence and keep American consumers spending. As a result, the last several years have seen stock markets reach record highs with Americans continuing to rack up personal debt for real estate, vehicles, education, and consumer goods as if the financial crisis never happened.
  • Two experts warn correction could total 60%

    08/27/2014 5:07:06 PM PDT · by SkyPilot · 93 replies
    CNBC ^ | 27 Aug 14 | Matthew J. Belvedere and Everett Rosenfeld
    <p>Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.</p> <p>A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."</p>
  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • Don't Be Fooled: This Week's Economic Data Should Be Taken With a Large Grain of Salt!

    08/27/2014 7:39:47 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | August 27, 2014 | Donald Lambro
    WASHINGTON - A bunch of economic numbers from the government this week, which should be taken with a large grain of salt, were expected to show the economy was doing much better in the past three months. Well, we've seen these periodic, fragmentary numbers many times before, only to see the economy continue to slowly slog along at its painfully lackluster, jobs-challenged pace for the past six and a half years now. President Obama will recite the exaggerated economic numbers that his cherry-picking speech writers select to prove that he's brought the economy back from the bring of recession. But...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal government’s budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesn’t change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. government’s deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agency’s prior estimate for the year, issued in April. The agency lowered its projection of...
  • The Basic Income Guarantee: Simplicity, but at What Cost?

    08/27/2014 5:55:16 AM PDT · by Citizen Zed · 21 replies
    CATO Unbound ^ | 8-26-2014 | Michael D. Tanner
    Our current welfare system is clearly a mess. The federal government currently funds 126 separate anti-poverty programs, at least 72 of which provide either cash or in-kind benefits to individuals. For example, there are 33 housing programs, run by four different cabinet departments, including bizarrely the Department of Energy. There are currently 21 different programs providing food or food purchasing assistance. These programs are administered by three different federal departments and one independent agency.  There are eight different health care programs, administered by five separate agencies within the Department of Health and Human Services. And six cabinet departments and five...
  • Why a Slowdown in Housing Prices Is Great News

    08/27/2014 7:05:57 AM PDT · by SeekAndFind · 3 replies
    New York Times ^ | 08/27/2014 | Neil Irwin
    There was some glumness in the latest news on housing prices. There shouldn’t be. Slower home price rises — and in some markets, outright declines — are a sign the housing market is starting to move past the boom-and-bust cycle of the last dozen years toward a market where sensible prices driven by local economic conditions prevail. The S.&P./Case-Shiller home price index showed prices rose 8.1 percent in 20 major cities in the 12 months ended in June, the lowest rate of increase since 2012. Compared with May’s prices, national home prices actually declined oh-so-slightly, by 0.1 percent, with six...
  • Rosenberg: The Next Recession Could Be 4 Years Away

    08/27/2014 7:06:48 AM PDT · by blam · 11 replies
    Pragmatic Capitalism ^ | 8-27-2014 | Cullen Roche
    Cullen Roche Wednesday, August 27th, 2014 Talk about a flip in perspective. David Rosenberg, who had been bearish for years, has turned into one of the biggest bulls on Wall Street. The Gluskin Sheff analyst now says his recession forecasting model could be pointing to another four years of economic expansion (via a recent note of his): (snip)
  • Opinion: Who wants to invest in Ferguson now?

    08/27/2014 3:49:44 AM PDT · by 2ndDivisionVet · 59 replies
    Market Watch ^ | August 27, 2014 | David Weidner
    Shellena Eskridge: ‘We need role models. We need an entire change for the better. We need economic change.’FERGUSON, Mo. — This town is already cleaning up. The streets are litter-free. The windows are being repaired. Now the question is, can this small community be able to draw new business, and will anyone stay? And it’s a question not just for Ferguson but for St. Louis as a whole. Negative attention from more than two weeks of protests over the death of Michael Brown brought the region’s deep-seated racial, economic and social problems into the national spotlight. And not in a...
  • More Than Half Of All Americans Can’t Come Up With $400 In Emergency Cash… Unless They Borrow

    08/26/2014 3:51:12 PM PDT · by SeekAndFind · 88 replies
    Personal Liberty Digest ^ | August 11, 2014 | Ben Bullard
    Count yourself fortunate, or something, if you’re among the 48 percent of Americans who can cough up a spare $400 in emergency cash without having to beg, borrow or steal. According to a Federal Reserve report on American households’ “economic well-being” in 2013, fewer than half of all Americans said they’d be able to come up with four Benjamins on short notice to deal with an unexpected expense. The report, released last week by the Board of Governors of the Federal Reserve, indicates a disparity between how Americans view their financial situation and the reality of where their finances actually...
  • As Argentina Peso Plummets To Record, BofA Warns Of Looming Economic Crisis

    08/26/2014 10:03:45 AM PDT · by blam · 6 replies
    Zero Hedge ^ | 8-26-2014 | Tyler Durden
    Tyler Durden 08/26/2014 After spending time in Argentina, BofA's Marcos Buscaglia is concerned... The perception of many locals is that the risks of an economic/currency crisis before year-end have increased significantly. This compares to a view they had before of a muddle-through till the 2015 presidential elections. Policy decision-making is ever more concentrated, and the administration has radicalized, but the severe economic downturn will change political incentives in 2015, in BofA's view. With the official peso rate at record lows once again, the black-market Dolar-Blue tumbled to over 14/USD - a record low indicating dramatic devaluation ahead (which of course,...
  • Survey: Economists say Fed is on ‘the right track’

    08/24/2014 11:50:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 25, 2014 12:39 AM EDT | Ken Sweet
    A majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy, according to a survey released Monday by the National Association of Business Economists. The survey also showed that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years. In the association’s semiannual survey, 53 percent of economists said the Fed’s stimulus programs were “on the right track” for the U.S. economy while 39 percent thought the Fed was doing too much. …
  • I’m expecting the next crisis rather sooner than later

    08/24/2014 6:50:35 PM PDT · by GilGil · 22 replies
    Finanz und wirtschaft ^ | 8/19/14 | Christoph Gisiger
    So what’s really going on? We are in a structural depression that began in 2007 and will continue indefinitely. A lot of people don’t understand the definition of an economic depression. They believe that it means a continuous decline in GDP. Put differently: If two quarters of declining GDP mark a recession than a depression must be a long string of declining GDP. But that’s not the definition. A depression does not mean that you have no growth. You can have growth in a depression, it just means the growth is below trend. But all the policy makers think we’re...
  • Capitalizing Off Tragedy: Michael Brown Merch Hits the Internet

    08/24/2014 5:59:48 PM PDT · by 2ndDivisionVet · 24 replies
    The Blot Magazine ^ | August 20, 2014 | Matthew Keys
    The Internet is proving to be a lifeline for those seeking information about the ongoing investigation into the officer-involved fatal shooting of an unarmed black teenager in an otherwise quiet suburban Missouri town. Unfortunately, the Internet is also serving as a reminder that will always be those who seek to make a dollar off the chaos and misfortune of others. The online merchant “TshirtLegend” is selling a “Justice for Mike Brown” t-shirt alongside other shirts that read “Let’s Get Nashty” and “I Want to Believe” on the online marketplace Etsy. Some online merchants have begun selling T-shirts and other merchandise...
  • Investment & Finance Thread (week Aug. 24 - Aug. 30 edition)

    08/24/2014 2:36:41 PM PDT · by expat_panama · 106 replies
    Daily investment & finance thread ^ | Aug. 24, 2014 | Freeper Investors
    Happy weekend investors!!This week's thread will have to settle for a lame blog at the top due to a severe case of writer's block.  Topics considered were a weekly recap but here's the week in stocks and here's the week in metals.  Another idea was chat about the Fed meeting at Jackson Hole but they're just wrapping it up and the Fed website isn't quite updated.  Another idea is a resume of all the good news & bad news about today's econ condx, but that either keeps changing or it's already been rehashed on these threads by better brains than...
  • Why Is It So Hard for Employers to Fill These Jobs?

    08/24/2014 6:54:55 AM PDT · by 2ndDivisionVet · 178 replies
    The Daily Signal ^ | August 23, 2014 | Stephen Moore
    America has a deficit of workers. Willing workers. Capable workers. Skilled, or at least semi-skilled workers, who can do a job and do it well. There are at least one million jobs that go begging day after day if only employers could find workers to fill them. This probably seems hard-to-believe. After all, how can America have a worker shortage when we have about 18 million Americans who are unemployed or underemployed? When the real unemployment rate is 12 percent? Well certainly the economy isn’t creating nearly as many jobs as it should – in large part because of regulatory...
  • Office Depot to close 165 stores this year; settles lawsuit for $80 million

    08/24/2014 3:45:11 AM PDT · by 2ndDivisionVet · 17 replies
    The Fort Lauderdale Sun-Sentinel ^ | August 5, 2014 | Marcia Heroux Pounds
    Boca Raton-based Office Depot said Tuesday it would close 165 stores during 2014 — up from the 150 estimated earlier this year — but stuck with a total count of 400 store closures through 2016, the company said. The office-supply retailer, which merged with OfficeMax last year in a $1.2 billion transaction, said it has completed its analysis of which stores will be closed across the U.S. and Canada. Locally, the retailer has closed two OfficeMax stores, in Coral Springs and Deerfield Beach. The company also announced on a conference call following its second-quarter earnings announcement that it has settled...
  • Yellen US Jobs Market 'Yet to Fully Recover'

    08/23/2014 4:05:28 AM PDT · by Son House · 16 replies
    MENAFN News ^ | 22/08/2014 | MENAFN News
    Yellen picked through the various arguments over what the seemingly contradictory data says: the faster-than-expected fall in the jobless rate to 6.2 percent from 7.3 percent a year ago, against the persistently extremely low labor force participation rate since the Great Recession, just 62.9 percent. Yellen agreed that there have been some structural changes that have affected the way the labor market signals tightening through indicators such as part-time work, the number of people leaving jobs, and wage gains - which have been virtually insignificant since the recession ended in 2009. But she insisted that the combined data that the...
  • Please pray for us

    08/22/2014 7:36:38 PM PDT · by 2ndDivisionVet · 105 replies
    August 22, 2014 | 2ndDivisionVet
    My wife just found out today that her store will close in about two months and she may be laid off. That will leave only my small V.A. pension and that won't cut it. Plus she won't have health insurance. We need your prayers. Thanks.
  • 5 things you should know about poverty in Southern California

    08/21/2014 7:43:11 PM PDT · by Pelham · 54 replies
    Orange County Register ^ | Aug. 20, 2014 | JENNA CHANDLER
    Economists say regional poverty trends are ‘alarming.’ Redlands-based economist John E. Husing issued a dire warning Wednesday, as elected officials from across Southern California pledged to reignite Lyndon Johnson’s war on poverty: “If we do not solve this problem, we are not going to want to live in Southern California. The communities are going to become unhinged.” Husing is one of several economists who looked at findings from the 2012 American Community Survey and state Employment Development Department to find out where poverty is concentrated in Los Angeles, Orange, Riverside, Ventura, San Bernardino and Imperial counties. Some of the results...
  • Investors cheer: S&P 500 hits all-time high [again!]

    08/21/2014 2:28:12 PM PDT · by SeekAndFind · 11 replies
    CNN Money ^ | 08/21/2014 | Heather Long
    If you kept your money in the stock market this summer, you're likely feeling pretty smart now. The start of August was rough for stocks as the Russia-Ukraine standoff, the Israel-Gaza conflict and terrorist group activity in Iraq all flared again. While serious problems remain in each of these regions, their impact on the U.S. economy so far has been limited. A stock market bounce back is in full effect. On Thursday, the Dow closed above the 17,000 mark for the first time since July 24. Not to be outdone, the S&P 500 set a new all-time high of just...
  • Zimbabwe economy takes another dive

    08/21/2014 2:40:16 PM PDT · by george76 · 12 replies
    ap ^ | FARAI MUTSAKA
    Several million Zimbabweans left for South Africa and other countries during past economic turmoil. Now, a year after the re-election of longtime leader Robert Mugabe, the country is facing new financial hardships. Zimbabwe's unemployment rate is estimated at 80 percent, pushing many people try to earn a living as street traders.
  • The 35.4 Percent: 109,631,000 on Welfare

    08/20/2014 7:09:30 AM PDT · by xzins · 89 replies
    CNS ^ | August 20, 2014 | Terence P. Jeffrey
    109,631,000 Americans lived in households that received benefits from one or more federally funded "means-tested programs" — also known as welfare — as of the fourth quarter of 2012, according to data released Tuesday by the Census Bureau. The Census Bureau has not yet reported how many were on welfare in 2013 or the first two quarters of 2014. But the 109,631,000 living in households taking federal welfare benefits as of the end of 2012, according to the Census Bureau, equaled 35.4 percent of all 309,467,000 people living in the United States at that time. When those receiving benefits from...
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) – The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • The Wheels Are Coming Off California's Ballyhooed Comeback

    08/19/2014 2:16:24 PM PDT · by SeekAndFind · 20 replies
    IBD ^ | 08/19/2014
    Stop the music. All the merriment over the California recovery may have been a bit premature. Tax revenues are way down this year in the Golden State, and this could throw the books back into the red. Not so Golden State Here is the sobering analysis released last week from the Rockefeller Institute of Government, which monitors state spending and revenues: "After four years of uninterrupted growth, states' tax collections saw a decline in the first quarter of 2014. Preliminary figures for the second quarter of 2014 indicate further declines in personal income-tax collections and possibly in overall state taxes."...
  • Study Finds 25% of Troops Use Food Banks

    08/19/2014 9:28:00 AM PDT · by george76 · 11 replies
    Military ^ | Aug 18, 2014 | Amy Bushatz
    A new study suggests that 25 percent of troops in active duty, Guard and the Reserve use food banks to provide groceries and meals for themselves or their families. The study sponsored by Feeding America, the nation's largest food bank network, is conducted once every four years and was based on data collected in 2012. It found that four percent of surveyed households who used a food bank contained a currently serving military member. Based on those results, Feeding America officials estimated that 620,000 of their 46.5 million customers, or about 25 percent of the military population in 2012, used...
  • We’re going to kill the dollar. White House, DoJ & Treasury don't deny Obama staffer statement

    08/19/2014 5:29:27 AM PDT · by Opinionatedtoday · 38 replies
    When a senior Obama member allegedly told Kyle Bass, the founder and principal of the $2 billion hedge fund, Hayman Capital Management, “We’re just going to kill the dollar,” during a discussion about fixing the trade deficit and economy, was that Obama official joking or serious? I set out to find out and contacted the White House, Treasury Department and Department of Justice (DoJ). Kill the dollar. Kill a nation. Live in denial and be blindsided if what the senior Obama member allegedly said to Bass was true. Ask the Russians what life was like in the former Soviet Union...
  • The real looting of Ferguson: its black citizens never had a chance to get by

    08/19/2014 4:38:50 AM PDT · by 2ndDivisionVet · 50 replies
    The Manchester Guardian ^ | August 19, 2014 | Steven W. Thrasher
    The National Guard rolled in to protect a status quo. But racism set a status quo of inequality long before Michael Brown died.The National Guard will essentially protect the legal looting of black people – much as it was protected when Missouri became the last slave state admitted to the union. The symptoms of structural racism stain America everywhere, but its execution is particularly perverse in places like Ferguson. It’s not just that black drivers are stopped more often for alleged crimes than white drivers, despite the Missouri attorney general’s report that white people break the law more often. It’s...