Free Republic

Given a lot of the rhetoric coming out of Washington and mainstream media outlets these days, one could be forgiven for believing that the United States has entered a new age of unprecedented austerity. This is hardly the case. Indeed, despite the best efforts of an insurgent Republican majority in the House of Representatives — elected in 2010 as a rebuke to Democratic fiscal recklessness — federal spending continues to rise.

CLEVELAND, Ohio--The giant presses that once stamped out hoods and door panels at Chrysler's Twinsburg plant are finding new homes -- and one of them is China. The Gisele Scan, a 469-foot cargo ship docked at the Port of Cleveland, is taking on massive press sections and parts-filled containers for delivery to the Port of Xingang. It's been slow going because of the weather and the need to carefully position the bulk cargo on board for a safe voyage, said David Gutheil, vice president for maritime and logistics at the Cleveland-Cuyahoga County Port Authority. The ship will sail eastward, Gutheil...

Are We At The Beginning Of A 25-Year Recession?The world economy faced a similar slump in the 19th Century. And it wasn't pretty posted on December 15, 2011, at 10:39 AM Our currency economic crisis has some troubling historic parallels with the "Long Depression" that began afflicting America in the 1870s. The current economic slump won't end any time soon, says Matthew Lynn in MarketWatch. The current crisis eerily resembles one that brought the financial world to its knees in the 1870s. A new industrial power — back then it was Germany, now it's China — had rocketed to the...

'India's GDP to grow at 9.5% in FY 09' Mumbai, June 16: India's real GDP is expected to grow at an impressive 9.5 per cent in FY 09, the Centre for Monitoring Indian Economy (CMIE) said in its monthly review in Mumbai. The Indian Economy is heading towards the fourth consecutive year of an over-9 per cent growth and like in the last five years, growth this year too was expected to be driven by capital investments happening in India, CMIE said. As per CMIE CapEx Service, projects worth Rs 3.4 lakh-crore are scheduled for commissioning in FY 09. This...