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Keyword: economic

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  • Census workers manipulated economic data: new whistleblower

    10/22/2014 9:09:23 PM PDT · by Nachum · 8 replies
    New York Post ^ | 10/22/14 | John Crudel
    The city known as America’s story factory is making up Census data. In the latest allegation of The Post’s exclusive probe into fishy goings-on at the Census Bureau, a new whistleblower says workers in the Los Angeles region have been manipulating economic data. Contact information for the veteran Census worker — who reached out to me by e-mail recently and whom I interviewed by phone — has been turned over to congressional investigators who are looking into data falsification in other parts of the country. “Everybody knows falsification is going on,” the whistleblower told me, adding the malfeasance in the
  • Elizabeth Warren: Obama's economic team chose Wall Street over 'families'

    10/13/2014 11:01:04 AM PDT · by TangledUpInBlue · 34 replies
    CNN Money ^ | 10/13/14 | Melanie Hicken
    Senator Elizabeth Warren, always outspoken on the tension between Main Street and Wall Street, took shots Sunday at a system she said is "rigged" against the little guy. In an interview in Salon, Warren, who has said she doesn't plan to seek the 2016 presidential nomination, said fellow Democrats including President Obama have not done enough to help consumers. On President Obama: Warren praised Obama for the creation of the Consumer Financial Protection Bureau, a federal agency aimed at enforcing consumer protection laws. But she told Salon that "there has not been nearly enough change" in the wake of the...
  • US Slips to 12th in Economic Freedom

    10/13/2014 5:54:05 AM PDT · by Enlightened1 · 8 replies
    Breitbart ^ | 10/13/14 | Mike Flynn
    A new report of "economic freedom" around the world finds the US ranked 12th among 152 countries, tied with the United Kingdom, and lower than neighbor Canada or Australia. The index, published by the Cato Institute and Canada's Fraser Institute, has been published since 1996. As recently as 2000, the US ranked 2nd in the world, in terms of boasting a free economy. The US's declining ranking will lower future economic growth.
  • Obama: ‘It’s Pretty Hard To Find An Economic Measure Where We’re Not Significantly Better Off’

    07/24/2014 6:12:19 PM PDT · by Nachum · 88 replies
    Daily Caller ^ | 7/24/14 | y Brendan Bordelon
    President Obama put his rosy glasses on for an interview with CNBC on Thursday, claiming “It’s pretty hard to find an economic measure where we’re not significantly better off.” Obama spoke with CNBC’s Steve Liesman about the economic policies pushed by the White House and what the federal government expects going forward. “What can you tell average Americans about the outlook of the economy?” Liesman asked, noting that even Obama’s own former economic advisor Larry Summers is forecasting lower growth over the next few years. Obama dismissed that notion. “If you think about where we were, Steve, when I came
  • Obama Talks Up Rosy Jobs Numbers and ‘Economic Patriotism’

    07/03/2014 1:20:47 PM PDT · by Nachum · 34 replies
    ABC News ^ | 7/3/14 | Jon Garcia
    President Obama made an unscheduled trip to a D.C.-based tech start-up to cheer about the rosy jobs numbers released this morning and promote his economic strategy. “We have made enormous strides, thanks to the incredible hard work of the American people and American businesses that have been out there competing, getting smarter, getting more effective. And it’s making a difference all across the country,” Obama told workers at “1776,” which the White House describes as a “global hub” to help start-up companies. The government reported today that 288,000 jobs were created last month and that the unemployment rate dropped to...
  • NYC Announces Plan to Equalize Neighborhoods

    05/27/2014 10:17:58 AM PDT · by John Semmens · 13 replies
    Semi-News/Semi-Satire ^ | 23 May 2014 | John Semmens
    Concerned that the City is an inhomogeneous hodgepodge with pockets of great wealth in some neighborhoods and squalor in others, newly appointed Housing Preservation and Development Commissar Vicki Been announced a plan to move 80,000 to 120,000 poorer families into middle class neighborhoods. “This way instead of having blight and filth in every direction they might look poorer families will be within easy walking distance of a better kept neighborhood,” Been boasted. “The crimes that plague poorer sections of our City would be more evenly dispersed throughout the whole City. Victims will come from a more broadly representative subset of...
  • Echoes Of 1937 In The Current Economic Cycle

    05/22/2014 3:47:35 PM PDT · by Nachum · 9 replies
    zero hedge ^ | 5/22/14 | tyler durden
    Submitted by Brendan Brown via the Ludwig von Mises Institute, It is not too early to ask how the present US business cycle expansion, already more than five years old, will end. The history of the last great US monetary experiment in “quantitative easing” (QE) from 1934-7 suggests that the end could be violent. Autumn 1937 featured one of the largest New York stock market crashes ever accompanied by the descent of the US economy into the notorious Roosevelt Recession. Should we take comfort from the fact that Friedman and Schwartz, in their epic monetary history, claim to have discovered...
  • Foreigners Sell A Record Amount, Over $100 Billion, Of Treasurys Held By The Fed In Past Week

    03/14/2014 7:20:53 AM PDT · by Errant · 26 replies
    Zero Hedge ^ | 14 March 2014 | Tyler Durden
    A month ago we reported that according to much delayed TIC data, China had just dumped the second-largest amount of US Treasurys in history. The problem, of course, with this data is that it is stale and very backward looking. For a much better, and up to date, indicator of what foreigners are doing with US Treasurys in near real time, the bond watchers keep track of a less known data series, called "Treasury Securities Held in Custody for Foreign Official and International Accounts" which as the name implies shows what foreigners are doing with their Treasury securities held...
  • Are Americans Going Galt?

    01/12/2014 9:39:30 PM PST · by Lorianne · 45 replies
    Independent Women's Forum (IWF) ^ | 12 Janaury 2014 | Charlotte Hays
    Ninety-two million Americans are not in the work force—they don’t have jobs and they aren’t looking for jobs. These 92 million Americans aren’t just out of work—they are resigned to being out of work as a way of life. The ballooning numbers of Americans who are resigned to long-term joblessness inspired Roger L. Simon to suggest in a bleakly humorous piece over at PJ Media that Americans are going Galt: Tell all your “Objectivist” friends and the libertarian gang at Reason magazine to break out the champagne. Americans may have skipped the movie of Atlas Shrugged, nor have many read...
  • Jobless Claims - The Economic Miracle That Wasn't

    12/29/2013 5:32:29 PM PST · by Nachum · 10 replies
    zero hedge ^ | 12/29/13 | tyler durden
    The noise in the jobless claims data over the past few months has been unprecedented and yet the impressive jump lower in recent weeks has been trumpeted as the all-clear for Tapering and as a signal that the recovery is 'real' this time. Except, thanks to a huge 'glitch' in Florida's new CONNECT unemployment claims website, the data is completely FUBAR... Via The Miami Herald, The story so far... Florida’s ongoing claims for unemployment benefits plummeted to the lowest level in six years from mid-October to early December. The average of 20,000 fewer weekly claims from the prior nine weeks...
  • Tavis Smiley: 'Black People Will Have Lost Ground in Every Single Economic Indicator' Under Obama

    10/11/2013 6:24:02 PM PDT · by Hotlanta Mike · 42 replies
    Newsbusters ^ | October 11, 2013 | Noel Sheppard
    PBS's Tavis Smiley made a comment Thursday that every African-American as well as liberal media member should sit up and take notice. Appearing on Fox News's Hannity, Smiley said, "The data is going to indicate sadly that when the Obama administration is over, black people will have lost ground in every single leading economic indicator category" (video follows with transcript and commentary):
  • Obama campaign manager: House Republicans 'committing economic treason'

    10/10/2013 10:26:58 AM PDT · by Nachum · 55 replies
    Daily Caller ^ | 10/10/13 | Alex Pappas
    President Barack Obama’s former senior White House adviser and campaign manager David Plouffe accused House Republicans of “committing economic treason” during the partial government shutdown on Thursday. In a snarky tweet about Republicans’ attempts to negotiate an end to the government shutdown, Plouffe dredged up the “birther” issue in order to discredit the GOP: David Plouffe @davidplouffe Maybe throw in a Special Counsel to investigate the President's birthplace and the House GOP will stop committing economic treason. 8:56 AM - 10 Oct 2013
  • Pentagon Cover-Up: ‘For The Record’ Reveals the Buried Details on Economic Terror Tactics Used

    09/19/2013 6:46:10 AM PDT · by sheikdetailfeather · 18 replies
    The Blaze ^ | 9/18/2013 | Sara Carter
    China, Russia and even Al Qaeda, among others, all have one thing in common: They believe that unconventional warfare against America’s economy is the best way to destroy our nation without actually ever having to fire a shot. And our enemies almost made it happen in 2008. Getty Images On Thursday night’s episode of TheBlaze TV’s “For The Record,” “Unrestricted Warfare” (8:30 p.m. ET), former senior U.S. officials disclose what the Pentagon and Washington establishment had been hoping to bury — that the near economic collapse of the United States in 2008 was not due to widespread failures in government...
  • Obama says Republicans blocking his efforts to fight economic inequality

    09/15/2013 11:32:15 AM PDT · by Nachum · 67 replies
    The Hill ^ | 9/15/13 | Mike Lillis
    The president has powers to fight income inequality, President Obama argued in an interview broadcast Sunday, adding that Republicans in Congress have hobbled his efforts to do it. Appearing on ABC´s "This Week" program, Obama acknowledged that the wealthiest Americans have benefited disproportionately from the economic recovery of recent years. But he was quick to add that much of that trend is due to globalization, technology and, not least, the GOP´s opposition to his economic agenda – all factors he suggested are beyond his control. "I think the president can stop it," Obama said, when asked about the growing income
  • 90,473,000: Record Number Not in Labor Force—Up Almost 10M Under Obama

    09/07/2013 7:22:51 PM PDT · by Olog-hai · 11 replies
    Cybercast News Service ^ | September 6, 2013 - 9:42 AM | Terence P. Jeffrey
    The number of Americans who are 16 years or older and who have decided not to participate in the nation’s labor force has pushed past 90,000,000 for the first time, according to data released today by the Bureau of Labor Statistics. The BLS counts a person as participating in the labor force if they are 16 years or older and either have a job or have actively sought a job in the last four weeks. A person is not participating in the labor force if they are 16 or older and have not sought a job in the last four...
  • Top Ten Secret Obama Economic Proposals

    07/29/2013 10:08:57 AM PDT · by Nachum · 6 replies
    White House Dossier ^ | 7/29/13 | Keith Koffler
    President Obama is being criticized for failing to offer any new economic proposals as part of his recent series of speeches on the economy. But in fact, Obama has dozens of new ideas waiting in the wings. He just hasn’t announced them yet. Meeting with a secret source in the basement of a garage in Rossyln, Virginia – just outside of Washington – White House Dossier was told, follow the money. Trying that and finding out nothing, White House Dossier called second source who turned over the information in exchange for a liter of Southern Comfort and some amusing imitations...
  • Pelosi Rolls Out Economic Agenda For Women

    07/23/2013 11:16:27 AM PDT · by Biggirl · 20 replies
    McClatchydc.com ^ | July 23, 2013l | Lisa Mascaro
    WASHINGTON — At a summer lunch with reporters in her Capitol conference room, Rep. Nancy Pelosi rolled out an ambitious economic agenda for women with next year's congressional elections in mind.
  • Margaret Thatcher Was Frighteningly Accurate When She Made This Economic Prediction

    04/09/2013 8:54:25 AM PDT · by Nachum · 1 replies
    The Blaze ^ | 4/9/13 | Becket Adams
    Lady Margaret Thatcher was well-known throughout the free world for her fierce conservatism and her opposition to the “Evil Empire,” two noble qualities that separated her from the rest of her U.K. colleagues. But did you know that she also had some frighteningly accurate economic predictions? In her two autobiographies, “The Downing Street Years” and “The Path To Power,” she wrote about how she planned to argue against the EMU (Economic and Monetary Union), the Telegraph’s Peter Oborne notes. In her anti-EMU arguments, as pointed out by Business Insider’s Joe Weisenthal and Rob Wile point out, Thatcher “outlined the problems...
  • CSPAN Book Discussion on "At the Brink: Will Obama push us over the edge"

    04/02/2013 11:21:48 PM PDT · by richardb72 · 9 replies
    C-SPAN ^ | Mar 6, 2013 | John Lott
    Author John Lott talked about his book, At the Brink: Will Obama Push Us Over the Edge, in which he argues that, thanks to President Obama, we are on the verge of economic and social collapse. This talk was part of Loudoun County, Virginia’s Ronald Reagan Lecture Series.
  • New gun laws could mean economic woes for booming gun industry

    03/29/2013 10:42:04 AM PDT · by Nachum · 18 replies
    Daily Caller ^ | 3/29/13 | Nicole A. Flotteron
    As lawmakers consider a range of new restrictions on guns, the gun industry is growing nervous that its exceptional success during the “Great Recession” could be coming to an end. In the past four years, the gun industry has experienced an unprecedented level of growth, providing a rare boost to the ailing economy. But now, with states like New York and Colorado passing some of the strictest gun laws in decades — and Senate Majority Leader Harry Reid poised to bring a sweeping new gun control measure to the Senate floor — worries are growing about the widespread impact such...
  • The next wave of the economic collapse would start in Europe and that is exactly what is happening

    The Domino’s Are Falling: Europe Announces Stunning Bailout For Cyprus — Bank Depositors To Get Instant 10% Haircut Before Banks Reopen This Week! Biggest Bank Run In History Starts Monday!! Europe Does It Again: Cyprus Depositor Haircut “Bailout” Turns Into Saver “Panic”, Frozen Assets, Bank Runs, Broken ATMs http://www.zerohedge.com/news/2013-03-16/europe-does-it-again-cyprus-depositor-haircut-bailout-turns-saver-panic-bank-runs-br Cyprus bailout comes at a cost to bank depositors http://www.marketwatch.com/story/cyprus-bailout-comes-at-a-cost-to-bank-depositors-2013-03-16?link=MW_home_latest_news CYPRUS PRESIDENT: Nation Faces Total Financial Collapse And Euro Exit Without Bailout In the early hours of Saturday, Cyprus agreed to a “bailout” with the EU and IMF that is very controversial because it imposes an immediate one-time tax on everyone...
  • US Economic Outlook for 2013

    02/05/2013 8:45:21 PM PST · by gloriasimmon · 2 replies
    http://www.useconomicoutlook2013.com/ ^ | 6-Feb-13 | gloriasimmon
    US Economic Outlook for 2013 | 2013 Economic Forecast America has a proud history of economic ingenuity. Since 1970, 51 Americans have been awarded the Nobel Prize in Economic Sciences (the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.1 The U.S. also has the largest and most technologically powerful national economy in the world, with aper capita Gross Domestic Product (GDP) of $48,442.2 There is no doubt that the U.S. is both a political and economic force, but will it remain so? When it comes to globally competitive economies, the U.S. is slipping. The U.S., which placed...
  • Obama's New Economic Normal: Seven Devastating Facts

    12/31/2012 9:39:31 PM PST · by Nachum · 15 replies
    Breitbart ^ | 1/1/13 | Wynton Hall
    America is entering a new economic normal, a reality where almost everything that should be going up is going down, and everything that should be going down is going up. The United States begins 2013 in uncharted economic waters; America has never been here before. Consider, for example, these seven “firsts” for the U.S. economy: 1. All-time record annual average gas price: In 2012, the average cost of a gallon of gas eclipsed the previous record by nine cents, bringing the annual average to $3.60. 2. All-time record food stamp participation: As of last month, for the first time in...
  • Obama Suppressing News of Economic Disaster Ahead

    09/27/2012 10:57:50 PM PDT · by Nachum · 24 replies
    front page ^ | 9/28/12 | Arnold Ahlert
    On May 7th, it was revealed that the Obama administration spent $8.35 billion on a “demonstration project” designed to postpone the vast majority of Obamacare’s Medicare Advantage cuts until after the election. On July 31st, it was revealed that the Labor Department warned defense contractors against notifying workers of impending layoffs before the election as well, despite the fact that it would require violating the law to do so. On September 21, it was revealed that a report on the Greek bailout will also be postponed until after the U.S. election. On September 13th, Fed Chief Ben Bernanke announced that...
  • GDP Growth the Latest in a Series of Incorrect Obama Economic Forecasts

    08/05/2012 10:18:27 AM PDT · by Son House · 5 replies
    Examiner.com ^ | July 17, 2012 | Mike Delrio
    Let us review the Obama administrations GDP projections: - In August of 2009, the White House — after having a half year to view the economy and its $800 billion stimulus response — predicted that GDP would rise 4.3% in 2011, followed by 4.3% growth in 2012, 2013 and 2014. - In its 2010 forecast, the White House said it was looking for 3.5% GDP growth in 2012, followed by 4.4% in 2013, 4.3% in 2014. - In its 2011 forecast, the White House predicted 3.1% growth in 2011, 4.0% in 2012 and 4.5% in 2013, 4.2% in 2014. -...
  • Flashback 2010, Remembering Christina Romer: Tax Increases and Their Economic Impact

    07/09/2012 12:48:04 PM PDT · by Son House
    Seeking Alpha ^ | August 10, 2010 | Ian McAbeer
    In June of this year, a little known organization called the American Economic Review published a 39 page research article, titled “The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks.” I have quoted from the publication here: This paper investigates the causes and consequences of changes in the level of taxation in the postwar United States. Our results indicate that tax changes have very large effects on output. Our baseline specification implies that an exogenous tax increase of one percent of GDP lowers real GDP by almost three percent… and that [capital] investment falls...
  • US economic recovery is tepid, says IMF

    07/03/2012 9:22:59 AM PDT · by NormsRevenge · 6 replies
    BBC News ^ | 7/3/12 | BBC
    The US recovery "remains tepid", according to the annual report from the International Monetary Fund (IMF). It has cut its growth forecast for the US economy to 2% this year from an earlier estimate of 2.1%. The IMF warned of risks from the eurozone debt crisis and uncertainties surrounding domestic policies, with an election in November and the debt ceiling needing to be raised in 2013. But it said there was also a chance that the economy could recover faster. The IMF said non-financial firms could invest more than expected and the housing market recovery may accelerate. Its report said...
  • Pres. Obama State of the ShamWow (Live Thread)

    06/14/2012 10:48:21 AM PDT · by rogue yam · 107 replies
    Here's a live thread to discuss all of the information and insights.
  • Obama Economic Plan: Go Buy A Thingamajig

    06/01/2012 11:53:16 AM PDT · by Nachum · 12 replies
    YouTube ^ | 6/1/12 | goprapidresponse
    During an event Obama admits that Obama's economic plan is to help Americans buy a "Thingamajig" (June 1, 2012).
  • A look at economic developments around the globe (Socialist Hollande's slogan - "change now")

    05/07/2012 4:00:25 PM PDT · by Libloather · 11 replies
    Yahoo ^ | 5/07/12
    A look at economic developments around the globeBy The Associated Press – 1 hr 35 mins ago A look at economic developments and activity in major stock markets around the world Monday: ___ PARIS — The day after Francois Hollande rode to power in France on a slogan of "change now," the conversation in Europe is already different: Austerity has become a dirty word. **SNIP** MADRID — Spain's prime minister said the government will likely present important bank clean-up measures this week to clear up doubts about the solvency of the sector, a key source of worry over whether Spain...
  • WH backs away from Obamacare as economic plus

    03/19/2012 4:00:22 PM PDT · by Nachum · 13 replies
    Washington Examiner ^ | 3/19/12 | Joel Gehrke Commentary Staff Writer
    White House Press Secretary Jay Carney implicitly retreated from President Obama's argument that Obamacare was a crucial part of his economic agenda. Asked why President Obama has been silent on the law as its second anniversary approaches, Carney explained that the president is now focusing on the economy rather than health care reform. "The president does speak about health care on occasion and will continue to do that," Carney told reporters, "but he is focused on a forward agenda right now -- and working with Congress and doing the things he can through executive action -- to grow the economy...
  • Obama links economic policies with faith

    02/02/2012 9:15:01 AM PST · by NormsRevenge · 22 replies
    SFGate.com ^ | 2/2/12 | Julie Pace - ap
    President Barack Obama says he relies on his faith and values to guide his work on the nation's most urgent problems, including the economy. Obama says that as a Christian, he believes in the teaching that to whom much is given, much is required. He says that belief, and his reliance on economic good sense, is behind his policies — including his call for the wealthy to pay more taxes. Obama urges other leaders to not abandon their values or "the moral glue" that has guided the nation for centuries. ...
  • Texas comptroller declares economic recession over

    12/12/2011 6:48:30 PM PST · by Nachum · 34 replies
    Associated Press ^ | 12/12/11 | Chris Tomlinson
    AUSTIN, Texas — The Texas comptroller said Monday that the economic recovery is taking hold, producing higher than expected tax revenues and possibly resulting in a budget surplus in 2013. In a letter to the Legislature, state Comptroller Susan Combs said tax collections were on pace to produce a $1.6 billion budget surplus for the fiscal biennium ending in 2013. That means the state could earn $82.7 billion over the next two years, while the 2012-2013 budget is only $81.1 billion. That represents an 8.2 percent increase in state revenues over the 2010-2011 budget cycle.
  • SoCal Girl Talks About Economic Collapse & Relationships

    11/23/2011 5:25:29 PM PST · by Nachum · 15 replies
    Youtube ^ | 11/23/11 | george4title
    I spoke with Stephanie about how the economy is affecting young women. Beside dealing with long term unemployment, the "jobless" economy is affecting how young men and women perceive each other. Many are putting off marriage and reassessing relationships. Many young women are investing free time with giving emotional support to their friends and seeking stronger ties with their existing families.
  • Surplus of pessimism may cost Spain’s ruling Socialists at polls

    11/18/2011 11:21:20 AM PST · by iowamark · 10 replies
    The Washington Times ^ | November 18, 2011 | Mike Elkin
    Spanish voters on Sunday are expected to dismiss the Socialist government of Prime Minister Jose Luis Rodriguez Zapatero and usher in the conservative People's Party (PP) and its leader, Mariano Rajoy. Mr. Zapatero’s Socialist party (PSOE), which has been in power for eight years, has borne the brunt of public blame for Spain’s increasingly perilous economic situation, which has tainted the party’s leadership candidate, Interior Minister Alfredo Perez Rubalcaba. Meanwhile, Mr. Rajoy has been coasting toward an expected landslide victory without saying much about how he plans to reverse Spain’s economic course... The situation is bleak for the eurozone’s fourth-largest...
  • Shifting demographics and economic conditions combine for a 'New Normal.'

    11/06/2011 3:19:33 PM PST · by WOBBLY BOB · 13 replies
    quad community press ^ | 10-11-2011 | michelle miron
    HITE BEAR LAKE - Big changes are coming worldwide as shifting demographics and economic conditions combine for a "New Normal." Whether Americans see those changes as debilitating or a huge opportunity will decide America's future. Those were among messages from State Economist Tom Stinson and State Demographer Tom Gillaspy as they made the presentation "The Boomer Tsunami" to a group of about 80 at Century College Oct. 5.
  • Fed slashes growth, employment projections

    11/03/2011 11:41:55 AM PDT · by InvisibleChurch · 3 replies
    hindu . com ^ | 11.3.11
    In an announcement that is likely to deepen concerns over the U.S. economic woes the Federal Reserve has slashed growth and employment projections for 2011 and 2012. Data projections released by the Fed suggested that it had revised a measure of the average, or “central tendency,” for the U.S. economy's 2011 gross domestic product growth rate from the 2.7-2.9 per cent range to the 1.6-1.7 per cent range. Similarly, the central bank cut its 2012 projection for growth from the 3.3-3.7 per cent range to the 2.5-2.9 per cent range. Unemployment which in June the Fed projected would hover between...
  • U.S. economy grows 2.5% in third quarter

    10/27/2011 8:04:43 AM PDT · by Free Vulcan · 27 replies
    Marketwatch ^ | 10.27.11 | Jeffry Bartash
    U.S. growth accelerated in the third quarter as consumers and businesses ramped up spending, a report that shows the economy remained resilient in the face of strong headwinds. Gross domestic product in the July-through-September period expanded at a 2.5% annual rate, the government said Thursday. That’s nearly double the 1.3% rate of growth in the second quarter and much faster than the first quarter’s tepid increase of 0.4%.
  • Analysis: Obama's moves pack political rather than economic heft

    10/25/2011 7:59:51 PM PDT · by NormsRevenge · 4 replies
    Yahoo ^ | 10/25/11 | Alister Bull - Reuters
    WASHINGTON (Reuters) - President Barack Obama is bombarding Americans with job initiatives that may lack economic heft but show him as an activist leader compared to a 'do-nothing' Congress as he campaigns for re-election in 2012. Obama will have rolled out three separate measures in three days when he wraps up a tour of electorally vital western states on Wednesday, and more moves are coming. White House Communications Director Dan Pfieffer said the Democratic president will use executive orders and other tools to deliver initiatives "on a consistent basis for months to come." "While the policy benefits of this new...
  • Ron Paul says unemployment is 20%

    10/23/2011 7:18:00 PM PDT · by alexmai · 55 replies · 2+ views
    <p>“I think the downturn in the economy occurred in the year 2000,” Paul told CNN, adding that there have been no new jobs since then “and yet we’ve had a 30 million increase in population.”</p> <p>“Just go out and talk to the people – unemployment rate in the true numbers (is) over 20%, so there’s been a depression,” Paul said after an appearance on NBC’s “Meet the Press.”</p>
  • The Secret to Herman Cain's 999 Plan Success

    10/13/2011 7:53:08 AM PDT · by rbmillerjr · 48 replies
    The Every Day Conservative ^ | Oct., 13, 2011 | RB Miller
    Full Article Follows - less graphics The Secret to Herman Cain's 999 Plan Success The most recent Wall Street Journal Poll shows Cain leading the Republican Primary, 27% to Romney's 23%. At the most recent debate, the Cain 999 Plan dominated the debate and discussion. Though the plan was roundly attacked by the moderators and competitors, Cain's Economic Plan wasn't damaged. What is appealing about Herman Cain's 999 Plan? "Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius -- and a lot of courage -- to move in the opposite direction."...Albert...
  • China, Japan Minuet Around the Issue of Rare Earths

    09/27/2011 4:14:55 AM PDT · by bananaman22 · 5 replies
    oilprice.com ^ | 09/26/2011 | John Daly
    It’s official – China’s de facto monopoly on current rare earths production is a threat to the global economy. As least, that was the gist of hearings on 21 September by the U.S. House of Representatives Committee on Foreign Affairs Subcommittee on Asia and the Pacific. Center for a New American Security fellow Christine Parthemore ominously intoned, "Reliable access to critical minerals is a matter of both economic and geostrategic importance to the United States. Today, no minerals are more troubling to U.S. security and foreign policy than rare earth elements. Supplies are concentrated mostly in the hands of one...
  • Committee Searches for Economic 'Tipping Point'; Prefer Not to Find It

    09/24/2011 9:41:42 AM PDT · by Son House · 16 replies
    FOXNEWS ^ | September 20, 2011 | Jim Angle
    "We know that the debt is now 100 percent -- approximately 100 percent of (gross domestic product)," said Allan Meltzer, a professor of political economy at Carnegie Mellon University in Pittsburgh. "That doesn't include the unfunded liabilities. It doesn't include (mortgage lenders)Fannie Mae and Freddie Mac. It doesn't include a number of other things." Chris Edwards, Director of Tax Policy Studies at the Cato Institute, a libertarian think tank in Washington, argues that U.S. debt is so far out of control that it must be contained soon. "We've had five trillion (in) deficit spending since 2008, the most enormous sort...
  • Germany's Resiliency Buoys Europe

    08/31/2011 9:17:39 PM PDT · by MinorityRepublican · 7 replies
    The Wall Street Journal ^ | SEPTEMBER 1, 2011 | BRIAN BLACKSTONE And MARCUS WALKER
    Germany—buoyed by its cadre of family-owned niche companies—appears to be weathering the global slowdown, countering fears that Europe's economic powerhouse faces a sharp downturn that could deepen the region's debt crisis. A pair of bullish reports, on German employment and manufacturing, were reassuring on Wednesday: Unemployment remained at its lowest level in nearly two decades last month, while July machine orders jumped 9% from a year earlier. The latest data suggest that Europe's largest economy, which is expected to grow 3% this year, remains resilient, even as evidence mounts that the U.S. and much of the rest of the world...
  • Economic Storm Continues: Bernanke Says ‘Recovery Even Weaker Than We Had Thought’

    08/30/2011 9:01:38 AM PDT · by Nachum · 29 replies
    CNS News ^ | 8/30/11 | Terence P. Jeffrey
    (CNSNews.com) - Speaking in Jackson Hole, Wyo., yesterday at an economic symposium sponsored by the Federal Reserve Bank of Kansas City, Federal Reserve Chairman Ben Bernanke said that the economic recovery in the United States had proved to be “even weaker” than the Federal Open Market Committee had originally thought it was. Bernanke also reiterated that the committee had recently lowered its expectations for economic growth in the coming quarters. “[I]t is clear that the recovery from the crisis has been much less robust than we had hoped,” Bernanke said. “From the latest comprehensive revisions to the national accounts as...
  • S&P 500, Nasdaq, (and DOW) fall more than 4 percent

    08/04/2011 11:54:58 AM PDT · by NormsRevenge · 141 replies
    Reuters ^ | 8/4/11 | Caroline Valetkevitch
    NEW YORK (Reuters) - Investors fled stocks on Thursday, putting the S&P 500 into correction territory, as worries about the U.S. economy and European debt escalated. All three indexes were down 2 percent, having fallen more than 3 percent each at one point. Decliners beat advancers on the New York Stock Exchange by 14 to 1. "People are throwing in the towel because they can't find relief on any front. There are a lot of worries about the economy," said Milton Ezrati, market strategist at Lord Abbett Co. in Jersey City, New Jersey, which manages $110 billion in assets. The...
  • What the final deal is likely to look like (Hybrid of Boehner/Reid/ McConnell plans)

    07/28/2011 7:50:18 PM PDT · by Qbert · 34 replies · 1+ views
    Washington Post ^ | 07/28/2011 | Ezra Klein
    [Snip] The smart money in Washington continues to be on some hybrid of the Boehner/Reid/McConnell plans. If I had to place a bet now, I’d say the final deal looks something like this: Cuts: $1.2 trillion in discretionary spending cuts, with somewhat more of the total falling on defense spending than in Boehner’s bill and somewhat less of the total falling on defense spending than in Reid’s bill. Committee: The bipartisan “Supercommittee” will be formed and charged with developing a plan that cuts the deficit by $1.8 trillion or more. Unlike in Boehner’s plan, future debt-ceiling increases will not require...
  • Daily economic briefings disappear from Obama's White House schedule

    06/06/2011 4:23:40 PM PDT · by Nachum · 17 replies
    the hill ^ | 6/6/11 | Sam Youngman
    At some point during the first two years of his administration, President Obama stopped receiving the daily economic briefing that he requested when he took office. Former White House press secretary Robert Gibbs announced at this own first daily briefing reporters that Obama asked for the daily economic briefing, described then as comparable to the daily intelligence briefing the president gets every morning. “The president asked that this be added every day to his schedule,” Gibbs said at the time. Gibbs added that Obama believed it is “important that each day he receive the most up to date information as...
  • There Is No Economic Recovery (But Only Fox News Kooks Know It)

    05/31/2011 3:27:08 AM PDT · by Son House · 7 replies
    Rush Limbaugh Show ^ | May 26, 2011 | Rush Limbaugh
    RUSH: Headline for the Associated Press: "Stocks, Bond Yields Sink After Gloomy US Reports -- Stocks are mostly lower and bond yields are at a new low for the year after two reports dimmed hopes for the job market and the U.S. economy. The government says more people applied for unemployment benefits last week, the first increase in three weeks." By the way, it was unexpected. Ahem. "A separate report says the economy grew at a sluggish 1.8 percent in the January-March quarter. Surging gasoline prices and cutbacks in government spending offset strong corporate earnings." Stocks "unexpectedly" tumble. Unemployment "unexpectedly"...
  • Is A US Boom On The Horizon? The end of Quantitative Easing Will be Great for Our economy.

    05/13/2011 6:51:02 AM PDT · by SeekAndFind · 13 replies
    Real Clear Markets ^ | 05/13/2011 | Joe Calhoun
    Key EXCERPT: If one believes as I do that QE II has been negative for the economy it is logical to now anticipate the opposite as we near the end of the program. Just as the effects of QE II were felt before its actual implementation, so too will the effects of its end be anticipated. That appears to be happening now. Commodity prices that started rising before the start of QE are now peaking before the end. Interest rates that rose with QE are now falling. For the economy, the end of QE should be positive as commodity prices...