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Keyword: economy

Brevity: Headers | « Text »
  • Why it’s now cheaper to produce some goods in the South than in China

    08/04/2015 10:33:36 AM PDT · by GoneSalt · 27 replies
    Washington Post ^ | 8/4/2015 | Ana Swanson
    Before World War II, red-brick textile mills that processed cotton and wove it into cloth were all over the southern United States, dotting the Carolinas, Georgia and Alabama. But in the last 50 years, automation, free trade agreements and competition from countries like China whittled down the historic industry until it was almost gone. Now some textile jobs are coming back, but on much different terms. As the New York Times reported Sunday, some Chinese manufacturers are setting up shop in the United States, after finding it cheaper to produce their goods in the American South than in China.
  • This Housing Bubble Will End Badly, Too [And you thought 2008 was horrible]

    08/04/2015 7:15:45 AM PDT · by SeekAndFind · 19 replies
    National Review ^ | 08/04/2015 | Kevin D. Williamson
    People complain about high prices when they’re buying, not when they’re selling, and that’s why housing bubbles are always politically popular: The sort of people who own homes are the sort of people who vote and volunteer on political campaigns and make donations. And the fact that tax revenue tends to increase as housing prices rise doesn’t go unnoticed by the nation’s mayors and governors. Renters tend to have more sensible views — you’ll never hear a renter say, “Hey, my rent is doubling this year — that’s awesome! The economy must be doing great!” But nobody listens to them....
  • Manufacturing Is Mired In Low Gear, Seeking Momentum

    08/04/2015 4:22:30 AM PDT · by expat_panama · 70 replies
    Investors Busniness Daily ^ | 08/03/2015 | ANDREA RIQUIER
    Manufacturing growth cooled in July, an industry report showed Monday, as factories, like the broader economy, struggle to gain momentum amid an array of headwinds. The purchasing managers' index from the Institute for Supply Management fell 0.8 point to 52.7, below economists' forecasts for a 0.2 point uptick. The details were mixed. The new orders index rose 0.5 point to 56, suggesting more robust growth ahead. The production gauge rose to a 3-month high of 56, but the order backlog reading sank further into contraction at 42.5, its lowest since 2012. The employment measure fell 2.8 points to 52.7. Readings...
  • Life is getting tougher for renters, as rent hikes outpace wage gains

    08/03/2015 9:17:46 PM PDT · by 2ndDivisionVet · 84 replies
    The Orange County Register ^ | August 3, 2015 | Jeff Collins
    New evidence surfaced last week showing that life is getting worse for America’s renters, two news reports said. The Associated Press and Wall Street Journal did a mash-up of two economic reports demonstrating that monthly rents are rising faster than incomes. The online real estate site Zillow.com reported that rents increased 4.3 percent in June from a year earlier in the nation as a whole (and 3 percent in Orange County). That’s double June’s average hourly wage increase of 2 percent reflected in government data, the news outlets reported. “Rents are insanely unaffordable on a historical basis in the United...
  • What is Our Alternative to Government Solutions?

    08/03/2015 5:24:56 PM PDT · by Jim 0216 · 12 replies
    Vanity ^ | 8/3/15 | jim 0216
    The ONLY real, valid alternative in life is freedom. Freedom is at the heart of most issues these days even if many don’t realize it. Your run-of-the-mill politician and most candidates for 2016 election see no political future in freedom. Of course that makes sense since political freedom is the absence of government and government coercion. Individual freedom or liberty is tremendously valuable and easily lost and is being drowned out by the deafening drum beats and bull horns of the Leftist MSM, government schools, government press corps, and politicians grasping for fame, fortune (your money) and power (at the...
  • 11 Red Flag Events That Just Happened As We Enter The Pivotal Month Of August 2015

    08/03/2015 8:07:21 AM PDT · by SeekAndFind · 39 replies
    TEC ^ | 08/02/2015 | Michael Snyder
    Are you ready for what is coming in August? All over America, economic, political and social tensions are building, and the next 30 days could turn out to be pivotal. In July, we saw things start to turn. As you will read about below, a major six year trendline for the S&P 500 was finally broken this month, Chinese stocks crashed, commodities crashed, and debt problems started erupting all over the planet. I fully expect that this next month (August) will be a month of transition as we enter an extremely chaotic time in the fall and winter. Things are...
  • The New Normal and a Very New Spin

    08/03/2015 7:57:54 AM PDT · by jfd1776 · 7 replies
    Illinois Review ^ | August 3, 2015 A.D. | John F. Di Leo
    It began quietly enough. A talking head on television would say it’s unfair to expect the robust economic boom of the 90s again; we had the “peace dividend” to thank for it, and it’s not like the Soviet Union is going to fall again. Or a columnist reminds us of the invention of the modern computer in the early 80s, and then the arrival of the internet age in the 90s; such technological breakthroughs were a once-in-history occurrence; they’re responsible for the booms we remember, nothing else. Or some caller on the radio, aged and experienced, with opinions fortified by...
  • Why the Economy Is Not Ready for an Interest Rate Increase

    08/03/2015 4:05:11 AM PDT · by expat_panama · 16 replies
    New York Times | AUG. 1, 2015 | THE EDITORIAL BOARD
    The Federal Reserve talked up the economy last Wednesday, in a statement that emphasized improvements in employment, housing and consumer spending. Unfortunately, the optimism is misplaced. On Thursday, the Commerce Department reported that from April through June, the economy grew at an annual rate of 2.3 percent — a modest pace, especially given the expectation of a bigger rebound from weather-related poor growth in the first quarter. In 2014, for instance, when bad weather also reduced first-quarter growth, the economy grew at an annual pace well above 4 percent for the next two quarters. In comparison, the economy’s recent performance...
  • U.S. Paychecks Grow at Record-Slow Pace

    08/02/2015 7:23:30 PM PDT · by TigerLikesRooster · 26 replies
    NYT ^ | JULY 31, 2015
    U.S. Paychecks Grow at Record-Slow Pace By THE ASSOCIATED PRESS JULY 31, 2015, 9:31 A.M. E.D.T. WASHINGTON — U.S. wages and benefits grew in the spring at the slowest pace in 33 years, stark evidence that stronger hiring isn't lifting paychecks much for most Americans. The slowdown also likely reflects a sharp drop-off in bonus and incentive pay for some workers. The employment cost index rose just 0.2 percent in the April-June quarter after a 0.7 increase in the first quarter, the Labor Department said Friday. The index tracks wages, salaries and benefits. Wages and salaries alone also rose 0.2...
  • From Free Fall to Free Markets: How Wisconsin Turned Itself Around

    08/03/2015 2:12:39 AM PDT · by Cincinatus' Wife · 7 replies
    The American Spectator ^ | August 3, 2016 | Luke Hilgemann
    "....Governor Scott Walker and the state legislature embarked on an ambitious and bold agenda to bring free market reforms to every corner of the state. ... Plain and simple, Wisconsin is finally on the right track. New state borrowing has been reduced to the lowest levels in 20 years. Property taxes have been reduced to the lowest levels since 1946, and taxes have been cut by more than $2 billion. Most importantly, these reforms aren’t just making a difference for lawmakers required to balance the budget. They’re also making a difference in the lives of everyday Wisconsinites and the hard-working...
  • LIES, LIES, LIES

    08/02/2015 10:28:39 AM PDT · by Oldpuppymax · 4 replies
    Coach is Right ^ | 8/2/15 | John C. Velisek USN (Ret.)
    I recently read about an ESPN commentator on CNN, stating that Obama had lied to the American People, but that it was not a problem because all Presidents lie. And besides, Bush was worse. This ESPN, politico wanna-be just couldn’t understand why the American people no longer trust Barack. Apparently it is perfectly acceptable to this individual that a dope smoking, foreign aid student like Obama should be placed in THE position of responsibility to the entire world. After all, other Presidents have lied. Of course with Obama it has been elevated to an art form. The major concern of...
  • New York's Empire State (building light show) highlights endangered animals

    08/02/2015 5:44:11 AM PDT · by Zakeet · 82 replies
    BBC ^ | August 2, 2015
    The unique display, on one of the world's most recognisable structures, was aimed at sparking conversations about mass extinction. Pictures of snow leopards, tigers and various sea creatures were shown. A 350ft (106m) image of Cecil, the famous lion killed in Zimbabwe earlier this month, also appeared. [Snip] In all 160 species were shown, including marine mammals, insects, and even the shadow of King Kong climbing up the building.
  • Obama to require steeper emissions cuts from US power plants

    08/02/2015 1:49:10 AM PDT · by Cincinatus' Wife · 44 replies
    NEW YORK (AP) — President Barack Obama will impose even steeper cuts on greenhouse gas emissions from U.S. power plants than previously expected, senior administration officials said Sunday, in what the president called the most significant step the U.S. has ever taken to fight global warming..... Obama, in a video posted to Facebook, said the limits were backed up by decades of data and facts showing that without tough action, the world will face more extreme weather and escalating health problems like asthma."Climate change is not a problem for another generation," Obama said. "Not anymore."In his initial proposal, Obama had...
  • Walker floats cabinet picks: Ben Carson, Carly Fiorina, Mitch Daniels

    08/02/2015 12:06:15 AM PDT · by Cincinatus' Wife · 72 replies
    Washington Post ^ | August 2, 2015 | James Hohmann
    DANA POINT, Calif. — Scott Walker said Saturday that he loves the “team of rivals” concept employed by Abraham Lincoln when it comes to building a cabinet. The Wisconsin governor told mega donors at the Koch donor network summit here that he would look to other Republicans seeking the nomination if elected, specifically former Hewlett-Packard CEO Carly Fiorina and retired neurosurgeon Ben Carson and “any of the governors I’ve worked with.” “There’s a great team of people I’d take from this field of candidates,” he said. “We could plug them right into the next administration.” Asked if there is a...
  • Charles Koch Urges Conservatives to Skip ‘Corporate Welfare

    08/01/2015 11:19:38 PM PDT · by Cincinatus' Wife · 31 replies
    Time ^ | August 1, 2015 | Philip Elliot
    Conservative billionaire Charles Koch told his ultra-rich friends that they face a “life and death” decision whether to keep lobbying for tax breaks and government subsidies. “Business leaders (must) recognize that their behavior is suicide, that it is suicide long term. To survive, long-term, they have to start opposing, rather than promoting, corporate welfare,” Koch told about 450 allies at an Orange County, Calif., summit that began Saturday. ....“Obviously, this prescription will not be an easy pill for many business people to swallow. Because short term, taking the principled path is going to cost some companies some profits, as it...
  • Debt Slaves: 7 Out Of 10 Americans Believe That Debt ‘Is A Necessity In Their Lives’

    07/31/2015 11:02:38 AM PDT · by SeekAndFind · 58 replies
    EAD ^ | 07/31/2015 | Michael Snyder
    Could you live without debt? Most Americans say that they cannot. According to a brand new Pew survey, approximately 7 out of every 10 Americans believe that “debt is a necessity in their lives”, and approximately 8 out of every 10 Americans actually have debt right now. Most of us like to think that “someday” we will get out of the hole and quit being debt slaves, but very few of us ever actually accomplish this. That is because the entire system is designed to trap us in debt before we even get out into the “real world” and keep...
  • If The American Dream Is To Own A Home, Then It Hasn’t Been In Worse Shape Since 1967

    07/31/2015 11:00:22 AM PDT · by SeekAndFind · 28 replies
    EAD ^ | 07/30/2015 | Michael Snyder
    Thanks to the “Obama recovery”, the rate of homeownership in the United States has fallen to the lowest level in 48 years. The percentage of Americans that own a home is widely considered to be a key indicator of the health of the middle class, and we have just learned that during the second quarter of 2015 that number dropped from 63.7 percent to 63.4 percent. It is now the lowest that it has been since 1967. Unlike a lot of other government economic statistics, this one is fairly difficult to manipulate. Either someone owns a home or they do...
  • The Donald Phenomenon — Part One

    07/31/2015 10:02:50 AM PDT · by Oldpuppymax · 7 replies
    Coach is Right ^ | 7/31/15 | Ed Wood
    Ever since Donald Trump literally exploded onto the political scene, tens of thousands of words have been written by all stripes of political junkies trying to figure out just what do we have here. Is he a shoot-from-the-hip kind of loudmouth, as he is being made out to be, or is he perhaps the real thing? Is he the kind of true believer we haven’t seen since the days of Harry S Truman? A few of you may be old enough to remember that Ol’ Harry called ‘em as he seen ‘em. He publicly likened the smell of his political...
  • Donald Trump Interview with Michale Savage (Video)

    07/31/2015 8:59:39 AM PDT · by Jim 0216 · 3 replies
    headlinepolitics ^ | 7/29/15 | Rusty Weiss
    Donald Trump has yet another supporter it would seem – the wildly popular conservative talk show host, Michael Savage.
  • Canada is in recession

    07/31/2015 7:14:19 AM PDT · by SeekAndFind · 28 replies
    Business Insider ^ | 07/31/2015 | Sam Ro
    Canada is in recession. Canadian GDP unexpectedly fell 0.2% in May. This was worse than the 0.0% expected by economists. "The economy has contracted in 6 out of the last 7 months," BNP's Derek Lindsay noted. The resource rich economy has felt the crushing pain of falling commodity prices as global demand for raw materials has decelerated. And relief doesn't seem to be coming any time soon. "We continue to see falling commodities prices weighing heavily on the economy, with mining, utilities, and manufacturing presenting biggest drags on the goods side," Lindsay said. And this probably means more easy monetary...
  • The thing about flat stock markets [The Market Is Running Out of Breath & Breadth]

    07/31/2015 5:30:56 AM PDT · by expat_panama · 24 replies
    Fortune ^ | July 30, 2015 | oshua Brown
    Flat markets, like the one we are in right now, do not suggest any particular outcome when the S&P 500 finally breaks out of its slumber. You might have looked at your last brokerage statement and wondered why you’re no longer seeing the asset balance increasing like it had been. You may have taken a glance at your 401(k) the other day and wondered why it’s barely budged since Thanksgiving, excluding the contributions you’ve been making every two weeks. You’re not crazy. The U.S. stock market has essentially gone nowhere... [snip] Market watchers have noted that the trading range (difference...
  • P&G results raise concerns about pace of turnaround (6 straight quarters of falling sales)

    07/30/2015 12:05:57 PM PDT · by Red in Blue PA · 13 replies
    (Reuters) - Procter & Gamble Co (PG.N) reported its sixth straight quarter of falling sales, hurt mainly by the stronger dollar. Even after stripping out the impact of the dollar and acquisitions, sales rose just 1 percent, raising concerns about the slow pace at which P&G is turning around its business. The company's shares fell as much as 4.3 percent in morning trading on Thursday, after it said sales would fall by a low-to-mid single-digit percentage in the year ending June 2016.
  • Why are more millennials living at home today than at the height of the recession?

    07/30/2015 10:51:33 AM PDT · by BenLurkin · 60 replies
    nola.com ^ | Emily Lane
    Even though there's about 3 million more Americans in the 18-34-age bracket today than there was in pre-recession 2007, there are fewer millennials living independently in 2015. About 42.2 million young adults ran their own households in 2015, down from 42.7 million in 2007. "This may have important consequences for the nation's housing market recovery, as the growing young adult population has not fueled demand for housing units and the furnishings, telecom and cable installations and other ancillary purchases that accompany newly formed households," the report notes.
  • U.S. Economic Growth Picks Up With U.S. GDP Gaining 2.3% In Second Quarter 2015

    07/30/2015 7:52:22 AM PDT · by SeekAndFind · 15 replies
    Forbes ^ | 07/30/2015 | Samantha Sharf
    On Thursday, the Bureau of Economic Analysis released its advance estimate of real gross domestic product for the second quarter of this year— covering April, May and June. The release showed output in the U.S. increasing at a rate of 2.3%. This is a major acceleration from the first quarter when real GDP increased 0.6%. “The advance estimate of second quarter GDP confirmed what was broadly expected: the economy bounced back after stumbling out of the gate to start the year,” wrote Jim Baird, chief investment officer for Plante Moran Financial Advisors, in a note on the results. While economists...
  • Diagnosing the World's Economic Malaise

    07/30/2015 3:34:09 AM PDT · by expat_panama · 29 replies
    Investors Busniness Daily ^ | 07/29/2015 | ROBERT J. SAMUELSON
    To understand the economy, you've got to resort to psychology. Throughout the recovery, forecasters — including those at the Federal Reserve and the International Monetary Fund — have repeatedly overestimated the economy's strength. They've predicted faster economic growth than has occurred.The main reason for the errors, I have argued, is that the forecasters have underestimated the influence of the financial crisis and Great Recession on people's confidence. Lower confidence reduced Americans' willingness to spend. My argument has applied to the United States. Some new figures now suggest that the same phenomenon operates globally.The figures come from the Pew Research Center,...
  • Get Ready for Scott Walker… and the Ruthless Politics of Walkerism

    07/29/2015 5:01:31 AM PDT · by Cincinatus' Wife · 56 replies
    The Nation ^ | July 29, 2015 | John Nichols
    Scott Kevin Walker, fresh from a free-spending yet folksy campaign in which he carried his lunch in a brown paper bag and promised to create 250,000 jobs, delivered his first inaugural address as governor of Wisconsin on January 3, 2011. “I stand before you not as the governor of one party or another, or the governor of one part of the state or another,” he declared. “Today, I stand before you as the governor for all of the people in the state of Wisconsin.” Days later, Walker traveled from Madison, the state capital, to Beloit, a working-class town battered by...
  • How Dodd-Frank Ate The U.S. Economic Recovery

    07/29/2015 4:48:32 AM PDT · by expat_panama · 22 replies
    Investors Busniness Daily ^ | 07/28/2015 | IBD Editorial
    Regulation: The Dodd-Frank Act's fifth anniversary this month has received surprisingly little notice. Too bad. It's a pernicious law, one that a devastating new report suggests is largely to blame for our lackluster economy. How bad is Dodd-Frank? One of its main goals, cited by both the White House and the then-Democrat-run Senate, was to get rid of the "too big to fail" doctrine that made some banks too important to allow to go bust. It sounded good at the time. But in fact, it's had the exact opposite effect, leading to a decline in small banks and rising market...
  • Trump says that under Walker, Wis budget went from projected surplus to a deficit [mostly false]

    07/28/2015 10:09:15 AM PDT · by Cincinatus' Wife · 66 replies
    Milwaukee Journal Sentinel Politifact ^ | July 28, 2015 | Tom Kertscher
    On July 25, 2015, the day after news that a Scott Walker ally had called him a "dumb-dumb,"Donald Trump delighted in dumping on the Wisconsin governor during a campaign speech in Iowa."I read this horrible statement from his fundraiser about Trump. I said, ‘Oh, finally,I can attack,’ "the New York businessman said to laughter in Oskaloosa. "Finally, finally."Trump--second to Walker among Republican presidential contenders in an Iowa poll earlier in the week--criticized him on several fronts. Then he made a claim about the fortunes of Wisconsin’s finances."Wisconsin’s doing terribly. First of all, it’s in turmoil,"Trump said. "The roads are a...
  • Russian ruble drops to past 60 per dollar

    07/28/2015 5:45:35 AM PDT · by TigerLikesRooster · 15 replies
    AFP ^ | 2015/07/28
    Russian ruble drops to past 60 per dollar Moscow (AFP) - The Russian ruble on Tuesday plummeted past 60 against the dollar for the first time since March on falling oil prices, complicating the central bank's efforts to jump-start the battered economy. The ruble reached 60.30 per dollar in early afternoon trading in Moscow after having lost two percent of its value on Monday. The new weakening of the ruble, which comes after the embattled currency bounced back somewhat in recent months, is expected to further erode consumption and fuel inflation, which stood at 15.3 percent last month. "Inflation is...
  • Message Of China's Meltdown: The Growth Miracle Is Over

    07/28/2015 4:06:14 AM PDT · by expat_panama · 38 replies
    Investors Busniness Daily ^ | 07/27/2015 | IBD Editorial
    Markets: China's stock market retreat has turned into a panic and, despite massive intervention, its government is helpless. Fact is, after a long period of super economic growth, China is downshifting to a much lower speed. China's benchmark Shanghai Composite plunged 8.5%, the biggest daily loss since 2007. Of course, the market is largely retracing its extraordinary 150% surge over the last year or so. Still, since their June peak, Chinese stocks have plunged 28%, or roughly $1.9 trillion. Reuters calculates that the government of Xi Jinping has spent close to $800 billion — or nearly 10% of China's total...
  • Shocker: Minimum Wage Hikes Gutted Over 700,000 Jobs In 2013

    07/27/2015 6:55:17 AM PDT · by Cheerio · 30 replies
    Town Hall ^ | Jul 26, 2015 | Matt Vespa
    Are liberals better at economics or are they just more adept at selling ideas that drive purely on emotion? Increasing the minimum wage is a perfect example. Raising it increases the living standards for those who struggle earning such a wage, and those who are against it–Republicans–are just anti-poor cretins who have no heart. The political campaign almost sells itself. Yet, we’re against it not because we hate poor people–that’s unadulterated nonsense. We’re against it because hurts workers, which is something that we’ve been saying ad nauseum, but alas, liberal intransigence and stubbornness on this issue has resulted in over...
  • Gold is doomed

    07/27/2015 4:19:44 AM PDT · by expat_panama · 94 replies
    Washington Post ^ | July 25, 2015 | Matt O'Brien
    A little less than four years ago, the world looked like it was about to end and gold hit an all-time high of $1,895 an ounce. The United States had manufactured a debt crisis, and Europe hadn't been able to manufacture a solution to its actual debt crisis, so panicky investors sought safety... [snip] That didn't mean, though, that gold wasn't a good short-term investment. It was. Just not for the reason goldbugs thought. Now, the problem with gold is it doesn't pay any interest or dividends, but it does cost money to store. So you have to pay up...
  • Chinese Stocks Suffer Second Biggest Crash In History, 1,500 Companies Halted Limit Down

    07/27/2015 4:17:49 AM PDT · by Zakeet · 40 replies
    Zero Hedge ^ | July 27, 2015
    This was not supposed to happen.After pledging, investing and otherwise guaranteeing the Chinese stock market to the tune of 10% of GDP, and intervening on at least 40 different occasions in the past month ever since China's stock bubble burst in late June, with the subsequent crash nearly taking the Shanghai Composite red for the year, overnight China officially lost control for the second time, when after a weak start to the Monday trading session, things turned very ugly in the last hour, when the Shanghai Composite plunged by 8.48%, closing nearly at the lows, and tumbling some 345 points...
  • De Blasio raves about presidential hopeful, but it’s not Hillary

    07/25/2015 4:23:15 AM PDT · by Zakeet · 19 replies
    NY Post ^ | July 25, 2015 | Rich Calder
    Mayor de Blasio is a big fan of presidential hopeful Bernie Sanders — because the Vermont senator is a proud “Democratic socialist.” [Snip] De Blasio was quick to correct CNN’s Carol Costello after she called Sanders a “socialist,” telling her the senator is a “Democratic socialist.” “I think there’s a lot to like in that title,” he gushed.
  • Why Donald Trump was a Democrat

    07/25/2015 1:24:41 AM PDT · by familyop · 69 replies
    PowerLine ^ | July 24, 2015 | Paul Mirengoff
    Donald Trump was asked today to explain why, as he has said, he has identified more with Democrats than with Republicans. The answer, he claimed, is that the economy crashed in 2008 because of mistakes made by President Bush. This may be a good answer (or the best one available) from a political perspective. Trump is appealing primarily to disaffected Republicans who believe the GOP hasnÂ’t stood up for them sufficiently on issues relating to the economy (immigration is the best example). Attributing his pro-Democrat leanings to BushÂ’s handling of the economy makes political sense. Unfortunately, it doesnÂ’t make historical...
  • US-Cuba handshake brings smiles at Biocon

    07/24/2015 11:16:17 PM PDT · by Jyotishi · 1 replies
    Daily News & Analysis ^ | Saturday, July 25, 2015 | Soumonty Kanungo
    Drug maker says better poised to licence and position its novel molecule Itolizumab, which has a Cuban origin Mumbai - Bangalore-based Biocon http://www.dnaindia.com/topic/biocon hopes that the thaw in bilateral relations between the US and Cuba offers the company a "better opportunity" to licence and partner its novel molecule Itolizumab, used for the treatment of psoriasis. The molecule, which has a Cuban origin, is the world's first novel anti CD-6 monoclonal antibody to treat multiple autoimmune diseases. The drug was launched in India in 2013 under the brand name Alzumab. "Itolizumab is advancing well. With relations restored between Cuba and the...
  • Fast Food Franchise Owners Consider Suing N.Y. Over Minimum Wage

    07/24/2015 4:03:49 PM PDT · by Oldeconomybuyer · 26 replies
    NBC News ^ | July 24, 2015
    Gov. Andrew Cuomo wants to have it his way with New York's fast-food industry — and restaurant owners aren't loving it. Franchise owners say they're considering a lawsuit against Cuomo's plan to raise the minimum wage in their eateries to $15 an hour, arguing that it is not fair or legal to be saddled with such a significant increase in labor costs that won't apply to retail, landscaping, child care or other traditionally low-wage industries. "Singling out fast food restaurants while ignoring other industries that hire workers who are paid under $15 is unfair and discriminatory, harms New York workers,...
  • Donald Trump Blames 2008 Financial Crisis on Republicans

    07/24/2015 12:44:27 PM PDT · by Jim 0216 · 99 replies
    YoungConservatives ^ | July 24, 2015 | Michael Cantrell
    If you’ve been paying attention the news the last few weeks, you’ve no doubt seen the meteoric rise of GOP presidential candidate Donald Trump, as the hype train for the real estate mogul shot into light speed after some brutally honest remarks about illegal immigration. Well, who he just pointed the finger at for the 2008 financial crisis might just hit the emergency brakes and bring this whole thing to a screeching halt. I’m pretty sure this isn’t going to sit well with a huge portion of his followers, and this may have been the gaffe that shoots down his...
  • India Rising? Modi’s Landmark Tax Bill Will Likely Pass, Says Eurasia

    07/24/2015 11:07:39 AM PDT · by entropy12
    Barron's Asia Edition ^ | 23-7-15 | Shuli Ren
    China’s loss is India’s gain. International investors are pulling out of China and plowed $705 million into India since June 12, sending the Sensex Index 7% higher. But does India have any near-term catalysts? The buzz on Narendra Modi‘s landmark reform Goods & Taxes Bill is back. An important panel in the Upper House of the parliament, which Modi’s political party does not have majority in, already approved the GST bill. Now Modi just needs to get this bill passed in the Upper House. But worryingly, the monsoon session of the parliament, which opened on Tuesday and will end on...
  • Iowa conservatives see plenty to like in Scott Walker

    07/24/2015 7:07:58 AM PDT · by Cincinatus' Wife · 21 replies
    apg-wi ^ | July 24, 2015 | Shawn Johnson | Wisconsin Public Radio
    Iowa Republicans are getting to know Gov. Scott Walker, and based on early polls, it appears that they like him. Many voters there appear enthralled with the story of Walker, the conservative folk hero, and seem prepared to overlook potential shortcomings. While it's unclear precisely what caused Walker to surge in the Iowa polls earlier this year and then stay there, the people who turned out to his rallies last weekend suggested that the image the governor's going for in this race is sinking in. At a Harley Davidson dealership in Carroll, Iowa, James Hedeen said he started paying attention...
  • Labor Reform Not a Death Knell for Legislators After All

    07/24/2015 6:07:56 AM PDT · by Cincinatus' Wife · 2 replies
    Mackinac Center ^ | July 23, 2015 | Vincent Vernuccio
    "There will be blood. There will be repercussions." Such is the common threat made against those who dare take on the union juggernaut. Michigan’s State Rep. Shenelle Jackson (D-Detroit) made the threat clear in 2012 during the passage of that state’s law on worker freedom. "What you're doing today will only serve to empower [Democrats]. We will win back this chamber, possibly take the Senate back and certainly win the governorship.” Unfortunately for Rep. Jackson and her allies, the exact opposite happened. Not a single state representative or senator who voted for right-to-work lost in the general election and the...
  • Dodd-Frank’s Nasty Double Whammy... hurting the recovery, the rule of law

    07/24/2015 4:45:57 AM PDT · by expat_panama · 19 replies
    Wall Street Journal ^ | July 23, 2015 | Phil Gramm
    Five years after the passage of the Dodd-Frank financial law, the causes and effects of the failed economic recovery are apparent throughout the banking system. The Federal Reserve’s monetary easing has inflated bank reserves, but lending has barely increased. Today banks maintain an extraordinary $29 of reserves for every dollar they are required to hold. In the first quarter of 2015 banks actually deposited more money in the Fed ($65.1 billion) than they lent ($52.5 billion). According to the Federal Deposit Insurance Corp., 1,341 commercial banks have disappeared since 2010. Remarkably, only two new banks have been chartered. By comparison,...
  • Why Scott Walker is so dangerous

    07/24/2015 1:50:00 AM PDT · by Cincinatus' Wife · 24 replies
    Washington Post ^ | July 23, 2015 | Dana Milbank
    SAN DIEGO — “First off,” Scott Walker proclaimed, “we took on the unions, and we won. We won!” Taking on the unions is usually first off for Walker, the Wisconsin governor and Republican presidential candidate. It is the very rationale for his candidacy. And on Thursday, he took a detour from the campaign trail to appear here before the annual meeting of the conservative American Legislative Exchange Council, a group of state legislators dedicated in large part to defeating unions............ Walker then went on to celebrate his triumphs over the demonstrators who objected to his dismantling of Wisconsin’s public-sector unions,...
  • There Goes Copper...

    07/23/2015 10:02:41 AM PDT · by blam · 54 replies
    BI ^ | 7-23-2015 | Akin Oyedele
    Akin Oyedele July 23, 2015Copper is at a six-year low. On Thursday, copper fell nearly 2% to as low as $2.385 a pound, the weakest level since 2009. This is part of a big sell off in commodities. Iron-ore prices have plunged, crude oil is trading below $50 per barrel, and gold is far from recovering after Sunday's flash crash and this week's continued weakness. Each market has its own set of factors motivating traders to sell. However, concern about China's slowing economy is something that is working its way across a few markets. (snip)
  • Hillary's 'Growth And Fairness' Economy Will Likely Produce Less of Both

    07/23/2015 4:25:41 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 07/22/2015 | John Merline
    Hillary Clinton says she wants a "growth and fairness" economy, and that her policies will bring it about. But the little she has revealed about her economic plans sounds like a carbon copy of President Obama's agenda: higher minimum wage, universal preschool, paid time off, more money for "clean energy" and infrastructure, more regulation, expand ObamaCare, still more tax hikes on rich.
  • Social Security Disability checks face 19 percent cut in 2016 unless solution found

    07/23/2015 2:55:14 AM PDT · by 2ndDivisionVet · 102 replies
    The Charleston Post and Courier / The Associated Press ^ | July 22, 2015 | David Slade 
    Goose Creek resident Kelly Schuler said he was earning a six-figure income in corporate sales when he was diagnosed with Parkinson’s disease, and after his symptoms became apparent and he lost his job, Social Security Disability Insurance payments became his financial lifeline. Now he finds himself among the 11 million Americans who could see their monthly checks slashed by 19 percent next year, unless federal lawmakers address a looming shortfall in the Social Security fund that pays disability benefits. The main Social Security fund that pays retiree and survivor benefits is not expected to run short for another two decades,...
  • Scott Walker: A Threat to Democracy

    07/23/2015 12:33:15 AM PDT · by Cincinatus' Wife · 25 replies
    The Huffington Post ^ | July 22, 2015 | Ellen Bravo, Director, Family Values @ Work
    Four years ago, I was among tens of thousands of Wisconsinites who made their way to Madison every weekend to march against Scott Walker and his attacks on public education and on unions. We were all ages, ethnicities, political persuasions, chanting: "This is what democracy looks like!" Homemade signs sprouted amidst the snowflakes. My favorite: "He's not a Packer, he's a Steeler." (The Packers had just triumphed over Pittsburgh in the Super Bowl.) Turns out what Scott Walker set out to steal was democracy itself. First came the attack on collective bargaining for public sector unions, done with a particularly...
  • E.J. Dionne Jr.: Differing visions for Kasich, Walker

    07/23/2015 12:15:30 AM PDT · by Cincinatus' Wife · 12 replies
    Omaha World Herald ^ | July 23, 2015 | E. J. Dionne, Jr
    "........[Kasich] fought to have his state accept the Affordable Care Act’s Medicaid expansion. He made his case on moral grounds, arguing that at heaven’s door,St. Peter is “probably not going to ask you much about what you did about keeping government small. But he is going to ask you what you did for the poor.”[Walker] adamantly opposed expanding Medicaid under the health care law,and his speeches are compendiums of every right-wing bromide that party activists demand.“We need a president who—on the first day in office—will call on Congress to pass a full repeal of Obamacare,”...declared when he announced his candidacy....
  • New Highs For The Baltic Dry Index

    07/22/2015 11:32:32 AM PDT · by blam · 3 replies
    Seeking Alpha ^ | 7-21-2015 | Clark Schultz
    July 21 2015 Clark Schultz, SA News Editor The Baltic Dry Index rose 4.3% to 1,113 with gains registering for capesize, panamax, and supramax rates. The BDI has doubled since February when a weak market prompted some companies to scrap ships. Shipping rates are still well-below the level from late 2013 to late 2014.(snip)
  • Yes, because Socialism always works so well

    07/22/2015 11:00:28 AM PDT · by Calif Conservative · 15 replies
    Marketwatch.com ^ | 7-22-15 | Paul Farrell
    Yes, Pope Francis is encouraging civil disobedience, leading a rebellion. Listen closely, Francis knows he’s inciting political rebellion, an uprising of the masses against the world’s superrich capitalists. And yet, right-wing conservatives remain in denial, tuning out the pope’s message, hoping he’ll just go away like the “Occupy Wall Street” movement did. Never. America’s narcissistic addiction to presidential politics is dumbing down our collective brain. Warning: Forget Bernie vs. Hillary. Forget the circus-clown-car distractions created by Trump vs. the GOP’s Fab 15. Pope Francis is the only real political leader that matters this year. Forget the rest. Here’s why: Pope...