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Keyword: economy

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  • Unprecedented Presidential Posturing (Peter Schiff)

    04/13/2012 8:21:26 PM PDT · by sickoflibs · 18 replies
    Safe Haven/Euro Pacific Capital, Inc. ^ | April 12, 2012 | Peter Schiff
    Last week, responding to President Obama's latest populist assault on the wealthy, I issued a commentary in which I explained why his ideas about American economic history were fundamentally flawed. As dangerous and erroneous as those views are, at least I can cut the President some slack for commenting on a subject in which he really has no basis for expertise. Hailing from academia and local community organizing, Barack Obama likely did not spend huge amounts of time boning up on economic history. However, there are other subjects where he should find firmer footing. Constitutional law certainly comes to mind....
  • Book REVIEW: ‘Debacle’

    04/13/2012 8:03:04 PM PDT · by Bobbys1963 · 4 replies
    Washington Times ^ | Friday, April 13, 2012 | W. James Antle III
    Remember the stimulus plan? The big spending package enacted at the height of hope and change, its legacy reads like a litany of broken campaign promises. It was “only” supposed to cost $787 billion. It was intended to create or save 5.5 million jobs. It was going to keep unemployment from spiking to more than 9 percent. Even before Barack Obama was sworn in, members of his economic team were predicting that unemployment would peak at 7.9 percent sometime in 2009 before falling below 6 percent by April 2012. Does it sound like an alternate reality? Well, prepare to enter...
  • Sarah on Fox

    04/13/2012 7:36:29 PM PDT · by Aria · 31 replies
    Fox News | 4/13/2012 | Vanity
    Sarah is on FOX right now for a special about gas prices. Didn't see a thread on this. Oh how I love this woman - no teleprompter in sight - facts - love of country- optimism - practical solutions. She has it all.
  • As Mexico booms, Canadian exporters benefit

    04/13/2012 7:05:46 PM PDT · by Ge0ffrey · 10 replies
    The Globe and Mail ^ | 4/11/12 | KEVIN CARMICHAEL
    Brazil is everyone’s darling these days, but Mexico’s economy is growing faster at the moment. Mexican GDP advanced at an annual rate of 3.7 per cent in the fourth quarter and at an annual rate of 4.5 per cent in the third quarter of 2011. That left mighty Brazil eating Mexico’s dust. Brazil’s GDP grew at annual rates of 1.2 per cent and 2 per cent in the fourth and third quarters respectively. For all of 2011, Mexico’s economy expanded 3.9 per cent compared with 2.5 per cent in Brazil, according to Bank of Nova Scotia. The Canada-Mexico story isn’t...
  • French 75 pct tax rate would last years -Hollande aide

    04/13/2012 5:47:17 PM PDT · by TigerLikesRooster · 20 replies
    Reuters ^ | 04/10/12
    French 75 pct tax rate would last years -Hollande aide PARIS, April 10 | Tue Apr 10, 2012 11:26am EDT (Reuters) - The 75 percent tax rate that French presidential frontrunner Francois Hollande wants to slap on income over 1 million euros will be kept in place for many years, in line with the broader debt reduction effort, a top adviser to the Socialist candidate said on Tuesday. In an interview with Reuters, Hollande adviser Michel Sapin said the 75 percent rate was more a symbolic measure than a big moneyspinner for the state but should stay in place for...
  • Flood of foreclosures to hit the housing market

    04/13/2012 4:46:15 PM PDT · by RC one · 10 replies
    CNNmoney ^ | April 13, 2012: 5:33 AM ET | Les Christie
    NEW YORK (CNNMoney) -- The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved. The settlement, agreed to by the nation's five largest mortgage lenders, is expected to speed up the foreclosure process by providing stricter guidelines for the banks to follow when repossessing homes. The banks involved include Bank of America, JPMorgan Chase, Citibank, Wells Fargo, and Ally Financial.Many foreclosures have been in limbo since fall 2010 following the so-called robo-signing scandal, when banks allowed employees to sign off on thousands of foreclosure documents a month...
  • Two-Handed Michigan Recovery is Real

    04/13/2012 8:23:12 AM PDT · by MichCapCon · 27 replies
    Michigan Capitol Confidential ^ | 4/10/2012 | James Hohman
    Harry Truman remarked that he was “in search of a one-armed economist, so that the guy could never make a statement and then say: ‘on the other hand.’” Michigan’s economic recovery is real, but it’s going to take a while to regain what the state lost, if it ever does. For the first time in over a decade, Michigan is showing solid signs of economic growth. Michigan received two bits of good economic news this week — that state personal income was growing above average and that its unemployment rate continues its decline. This is good, but the state still...
  • Krugman's bad predictions

    04/13/2012 6:09:36 AM PDT · by richardb72 · 32 replies
    Fox News ^ | April 12, 2012 | John Lott
    Few prominent economists have a worse record predicting the impact of Obama’s economic policies than Paul Krugman. Writing for the New York Times and touting his close “genuine contact” with the “smart” economists and others in the Obama administration and the Democratic congressional leadership, Krugman has been, and remains, Obama’s most important champion. Not only has he been defending Obama’s Keynesian-type deficit-spending, but he has been advocating still more of these same failed policies. The economy just can’t gain ground. Thirty-four months since the "recovery" started in June 2009 and the actual number of jobs have increased by just 0.4%....
  • Hours of Work Needed to Purchase: CRB, SPY, Gold, Oil

    04/12/2012 1:58:13 PM PDT · by Theoria · 2 replies
    The Big Picture ^ | 10 April 2012 | Barry Ritholtz
    From Ron Griess and the always fascinating Chart Store, we see a very different read of inflation. He shares this awesome selection from his weekly blog (subscription only) of commodities,  crude oil, copper, gold, silver, corn, coffee, cotton, and the S&P500 — all priced in terms of hourly earnings:>Click to enlarge:˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜˜
  • Walter Russell Mead: The Myth of America's Decline

    04/12/2012 9:09:15 AM PDT · by nuconvert · 22 replies
    The world balance of power is changing. Countries like China, India, Turkey and Brazil are heard from more frequently and on a wider range of subjects. The European Union's most ambitious global project—creating a universal treaty to reduce carbon emissions—has collapsed, and EU expansion has slowed to a crawl as Europe turns inward to deal with its debt crisis. Japan has ceded its place as the largest economy in Asia to China and appears increasingly on the defensive in the region as China's hard and soft power grow. The international chattering class has a label for these changes: American decline....
  • Jobless claims unexpectedly rise last week (up to 380,000)

    WASHINGTON (Reuters) - New claims for unemployment benefits rose last week to their highest level since January, a development that could raise fears the labor market recovery was stalling after job creation slowed in March. Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000, the Labor Department said on Thursday. The prior week's figure was revised up to 367,000 from the previously reported 357,000. Economists polled by Reuters had forecast claims falling to 355,000 last week. The four-week moving average for new claims, considered a better measure of labor market trends, rose 4,250 to 368,500. The...
  • California Businessman Applies To Trademark The Phrase ‘I Believe You Zimmerman’

    04/11/2012 9:57:20 PM PDT · by 2ndDivisionVet · 5 replies
    Mediaite ^ | April 11, 2012 | Jon Bershad
    A few weeks ago, news broke that Trayvon Martin’s mother had applied to trademark the phrases “Justice for Trayvon” and “I Am Trayvon.” The news seemed to garner a mixed reaction. Some people found it slightly distasteful, while others saw it as both a way for a woman to gain any kind of restitution following an unspeakable tragedy as well as stopping others from misusing her son’s memory. Now, news has broke that some guy completely unrelated to the case has trademarked the phrase “I believe you Zimmerman.” In response to this news, some people found it to be a...
  • Terminus Part 4: Fight, Flight, And The Approach Of The Cusp

    04/11/2012 1:51:37 PM PDT · by fporretto · 3 replies
    Liberty's Torch ^ | April 11, 2012 | Francis W. Porretto
    It's time to round off this short series of screeds. If these "Terminus" posts have struck you, Gentle Reader, as unusually angry or strident, I can scarcely be surprised. I'm very angry; the country is going downhill far faster than even I expected it to go, and good men have done little more than complain about it. My contempt at such limpness in the face of social, economic, and political calamity has caused me to jack up the stridency of my prose. Whether that's for good or for ill, I can only wait and see. * * * The belief...
  • Should Taxes Be Raised on the Rich to help the economy? Help Freep this Poll!

    04/11/2012 9:39:35 AM PDT · by Howard Morrison · 44 replies
    Yahoo ^ | 4/11/12 | Howard
    Should Taxes Be Raised on the Rich to help the economy. Freep this poll (needs it badly). 64% say yes! Middle right of the page.
  • Obama On Free Markets: "We Tried It. It's Not Like We Did Not Try"

    04/11/2012 4:50:16 AM PDT · by Islander7 · 64 replies
    Real Clear Politics ^ | April 11, 2012 | Staff
    "If we would just convert these investments that we're making through out government in education, research and healthcare. If we just turn those into tax cuts, especially for the wealthy, then somehow the economy is going to grow stronger. That's the theory," President Obama said about the right at a campaign event on the tax code in Boca Raton, Florida today.
  • James Bovard: The Wrong Way to Help the Disabled

    04/11/2012 3:56:41 AM PDT · by Makana · 8 replies
    Wall Street Journal ^ | April 10, 2012 | JAMES BOVARD
    The Obama administration is on the verge of compelling most of the largest corporations and universities, as well as many smaller businesses, to adopt a 7% hiring quota for disabled job applicants—lest they be debarred from doing business with the federal government. This radical personnel policy could raise costs and slash the productivity of almost 200,000 companies with U.S. government contracts. The Labor Department's Office of Federal Contract Compliance Programs (OFCCP), declared: "For nearly 40 years, the rules have said that contractors simply need to make a 'good faith' effort to recruit and hire people with disabilities. Clearly, that's not...
  • Cheap Natural Gas Heralds an Energy Revolution [Roll over EPA]

    04/11/2012 1:32:50 AM PDT · by Cincinatus' Wife · 12 replies
    The American Thinker ^ | April 11, 2012 | S. Fred Singer
    All bets are off for the future of energy in the United States and, indeed, the world, as the price of natural gas plummets to ever-lower values -- thanks to the development of technology that can access gas and liquids trapped in hitherto inaccessible shale rocks.... ....With the pipeline problem solved (at least in the Lower 48), consider the consequences of having huge quantities of cheap gas available. It will make new coal-fired power plants uneconomic, but it will also make new nuclear plants uneconomic.(Coal and nuclear do have an important advantage over gas: the fuel can be easily stored...
  • New VRAP GI Bill for Unemployed Vets

    04/10/2012 6:13:45 PM PDT · by 2ndDivisionVet · 1 replies ^ | March 20, 2012 | Terry Howell
    The following is an update to the previous blog post on the new VRAP GI Bill “retraining” benefit: The new program, now known as Veterans Retraining Assistance Program (VRAP), will offer up to 12 months of Montgomery GI Bill benefits for older unemployed veterans. The program is part of the VOW to Hire Heroes Act which also includes tax breaks for companies that hire veterans. That means that pre-9/11 veterans who often feel left out, may soon qualify for as much as $17,600 ($1473 a month) for education and training. Here’s what you should know about the new VRAP:
  • Bernanke says financial stability a work in progress

    04/09/2012 5:27:10 PM PDT · by John W · 8 replies
    Reuters via Yahoo News ^ | April 9, 2012 | Pedro Nicolaci da Costa
    STONE MOUNTAIN, Georgia (Reuters) - The U.S. economy has yet to fully recover from the effects of the financial crisis, and regulators must continue to find new ways to strengthen the banking system, Federal Reserve Chairman Ben Bernanke said on Monday. "The heavy human and economic costs of the crisis underscore the importance of taking all necessary steps to avoid a repeat of the events of the past few years," Bernanke told a group of economists and finance experts at a conference sponsored by the Federal Reserve Bank of Atlanta.
  • Chicago Snub: Gun rights advocate and former Obama colleague: President used to treat him as 'evil'

    04/09/2012 10:01:50 PM PDT · by Bobbys1963 · 16 replies
    Daily Caller ^ | April 8, 2012 | Jamie Weinstein
    Economist John Lott, noted for his academic advocacy of gun rights, says that when Barack Obama was his colleague at the University of Chicago, the future president treated him as if he were “evil.” Lott relates his interactions with Obama in his new book, co-authored with Americans for Tax Reform’s Grover Norquist, “Debacle: Obama’s War on Jobs and Growth and What We can Do Now to Regain Our Future.” “The book relates a couple out of the dozen-and-a-half conversations that I had with him,” Lott told The Daily Caller. ”But they were all very short, cut off by Obama turning...