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Keyword: economy

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  • National Debt to be $27 Trillion in 10 Years, Says the CBO

    10/30/2014 4:20:06 AM PDT · by combat_boots · 27 replies
    New American ^ | 10/16/2014 | Bob Adelmann
    There was something for everyone in the release last week by the Congressional Budget Office of its August update and outlook. The federal government’s revenues are expected to top $3 trillion this year for the first time in history, thanks to individual income taxes rising by six percent, payroll taxes by eight percent, and corporate income taxes by 15 percent. Those infatuated with big government are celebrating the event as a reflection of an improving economy resuscitated by government spending and stimulus programs. Small government advocates, on the other hand, are decrying the event by reminding those who will listen...
  • Will Future Generations See Our Inaction on Climate Change as a Great Immoral Act? (He's serious)

    10/29/2014 6:52:58 PM PDT · by 2ndDivisionVet · 44 replies
    Big Think ^ | October 29, 2014 | Orion Jones
    In order to express her worries about our collective failure to act on the climate change threat, Harvard science historian Naomi Oreskes turned to science fiction. Her book, "The Collapse of Western Civilization: A View From the Future", is written from the point of view of a future historian who chronicles how humans ignored many clear warnings about the adverse effects of rising temperature, resulting in The Great Collapse of 2093. The details of that collapse include "floods, droughts, mass migrations, [and] the end of humanity in Africa and Australia." Oreskes began her efforts by chronicling the real scientific consensus...
  • Fed decides to keep near-zero interest rate for 'considerable time' after ending QE

    10/29/2014 3:37:53 PM PDT · by TigerLikesRooster · 27 replies
    Yonhap News ^ | 2014/10/30
    Fed decides to keep near-zero interest rate for 'considerable time' after ending QE 2014/10/30 04:26 WASHINGTON, Oct. 29 (Yonhap) -- The U.S. Federal Reserve announced Wednesday it will keep its near-zero interest rate policy "for a considerable time" even as it puts an end to its bond-purchasing program aimed at stimulating the economy through low rates. The announcement corroborates views that the Fed is unlikely to raise the key rate before the middle of next year. A possible U.S. rate hike after the end of the bond-buying program, known as "quantitative easing," has been feared to lead to a capital...
  • Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, "Buy Gold"

    10/29/2014 11:47:09 AM PDT · by Rusty0604 · 11 replies
    Zerohedge ^ | 10/29/2014 | Tyler Durden
    It appears it is time for some Hillary-Clinton-esque backtracking and Liesman-esque translation of just what the former Federal Reserve Chief really meant. As The Wall Street Journal reports, the Fed chief from 1987 to 2006 says the Fed's bond-buying program fell short of its goals, and had a lot more to add. Mr. Greenspan’s comments to the Council on Foreign Relations came as Fed officials were meeting in Washington, D.C., and expected to announce within hours an end to the bond purchases. He said the bond-buying program was ultimately a mixed bag. He said that the purchases of Treasury and...
  • Grow Up, Millennials — And Stop Taking Money From Mom And Dad

    10/28/2014 11:48:39 AM PDT · by 2ndDivisionVet · 22 replies
    WBUR-FM's Cognoscenti ^ | October 28, 2014 | Amory Sivertson
    Last month — gulp — I turned a quarter-century old. To the boomers rolling your eyes right now and thinking, Twenty-five? You’re just a kid! I say this: Yes, by some standards, I am. By Beyoncé’s standards, I should have at least six albums and a fashion line under my belt. Regardless, 25 feels significant to me, so when I came across the headline “25 is the New 21” on The Atlantic’s website, I was intrigued — and soon, discouraged. Meet Emma, recent college graduate, daughter of the article’s author, Randye Hoder, and, apparently, exemplar of my generation’s extended childhood....
  • US Homeownership Rate Drops To 1983 Levels: Here's Why

    10/28/2014 9:32:40 AM PDT · by SeekAndFind · 13 replies
    Zero Hedge ^ | 10/28/2014 | Tyler Durden
    The last time US homeownership declined down to 64.4% (which the Census Bureau just reported is what US homeownership declined to from 64.7% in Q2), was back in the fourth quarter of 1983. It goes without saying that this is about the bearishest news possible for those few who still believe in the American homewonership dream. Of course, those who have been following real-time rental market trends would be all too aware there is no rebound coming to the homeownership rate. The reason is simple: increasingly fewer can afford to buy, instead having no choice but to rent, which...
  • Greens to spend record $85M in midterms ["climate science denial will soon come to a close"]

    10/28/2014 2:12:37 AM PDT · by Cincinatus' Wife · 22 replies
    The Hill ^ | October 27, 2014 | Laura Barron-Lopez
    Environmental groups are on track to spend more than $85 million on key races this year, more than ever before, according to an internal memo. The record spending comes as green groups are worried about the fate of the Senate and the future of President Obama’s climate agenda, which they say is crucial to helping the U.S. and other nations curb greenhouse gas emissions and stave off disastrous climate impacts. A memo circulated among five of the nation’s top environmental organizations, and provided to The Hill, summarizes in detail the plan hatched by the groups to put climate change on...
  • The Case for Trailer Parks

    10/27/2014 3:02:31 PM PDT · by 2ndDivisionVet · 97 replies
    The Atlantic ^ | October 24, 2014 | Alana Semuels
    Houses made in a factory are a cheap and energy-efficient way for poorer Americans to become homeowners—plus, these days, the mass-produced units can be pretty spiffy. You’ve seen it before: a house, on a truck, on a highway, slowing down traffic with its yellow “OVERSIZED LOAD” sign, its tan vinyl siding nearly screaming “Trailer Park!” The snobs among us may judge these pre-fab homes as shoddily built, cheap eyesores in a country that’s increasingly eschewing the suburbs for walkable urban areas. But pre-fabricated homes just might be part of the solution to America's affordable housing crisis. Home prices are continuing...
  • Obama bashing (letter to the editor)

    10/27/2014 8:42:39 AM PDT · by rey · 23 replies
    Press Democrat ^ | 27 Oct 2014 | MICHELLE ZYGIELBAUM
    Obama bashing EDITOR: The TV networks are as busy as under-5 soccer players, clustered around the Obama-bashing ball, telling us how he’s let America down. Really? The federal budget deficit has shrunk steadily since President Barack Obama bailed us out of the 2008 meltdown, and it’s now almost to where it was in 2008. The total number of jobs long ago returned to its pre-meltdown rate of rise and is at an all-time high. Stock exchange indexes are at all-time highs. Non-military federal jobs number the same as in 2008. The federal government is not growing. Millions more people can...
  • Fuel Costs Ease, US Airline Profits Soar

    10/27/2014 6:49:20 AM PDT · by SoFloFreeper · 4 replies
    ABC "News" ^ | 10/23/14 | David Koenig
    Profits are soaring at the biggest U.S. airlines as fuel prices drop — but don't expect fares to fall too. Heading into the busy holiday-travel period, the airlines expect even cheaper fuel, thanks to the nosedive in crude oil prices. The price of jet fuel, an airline's biggest single expense, has dropped by about one-fifth since mid-June.
  • HUSSMAN: I Think The Stock Market Is Crashing

    10/27/2014 5:54:39 AM PDT · by blam · 27 replies
    BI ^ | 10-27-2014 | Henry Blodget
    Henry Blodget October 27, 2014 Fund manager John Hussman of the Hussman Funds has been one of the most vocal bears on Wall Street for the past few years. The market has continued to rise strongly in the face of these warnings, which has clobbered Hussman's reputation and performance. But those who are loud and early/wrong on Wall Street are always ridiculed ... unless/until the trend changes. At that point, they become one of the heralded few who were "right." For the past six months or so, Hussman has been increasing the volume of his warnings about a potential market...
  • Hillary Clinton: Corporations and Businesses Don’t Create Jobs (They Don't?)

    10/26/2014 9:13:55 AM PDT · by Kaslin · 39 replies
    Townhall.com ^ | October 26, 2014 | Michael Schaus
    If you’re looking for proof that anyone can become anything in this nation, just look at Hillary Clinton. Hillary managed to utter a profoundly mind numbing statement at a recent Democrat Rally in Massachusetts. (Isn’t that the only kind of rally allowed in the People’s Republic of Massachusetts?) In fact, before writing this column, it took me a while to fully register what I was hearing from the former First Lady. According to the Free Beacon:Clinton defended raising the minimum wage saying “Don’t let anybody tell you that raising the minimum wage will kill jobs, they always say that.”No… That’s not...
  • Centene Announces Site Selection For New Claims Processing Facility In Ferguson

    10/26/2014 3:22:51 PM PDT · by 2ndDivisionVet · 12 replies
    RTT News ^ | October 26, 2014 | Staff
    Centene Corp. announced an eight-plus acre site in Ferguson, Missouri, located at 2900 Pershall Road, as the location of its new claims processing facility. The expansion will create up to 200 jobs. The facility will process claims from Centene's Missouri-based Home State Health Plan and other health plans across the country. The company noted that it will break ground on the permanent structure in 2015. The property has passed all environmental testing and is currently in the design phase. Centene will have a temporary facility located across the street from the future permanent site. Centene has been receiving applications for...
  • How freepers see elections/ebola/deflation/terror affecting investments&economy --Weekly Thread

    10/26/2014 10:48:06 AM PDT · by expat_panama · 64 replies
    Daily investment & finance thread ^ | Oct 26th 2014 | Freeper Investors
    Our investing strategy is the mix of our own personal financial needs plus expected future developments in the economy.  So the buzz (on these threads) is that the biggest up-coming economic/employment changes impacting our investment choices in the next week or two are the midterm elections, Ebola, deflation, and the war on terror.  We'll share our thoughts here on what we expect, and let's rate our expectations in terms of what we've been having up til now on the 'click-to-enlarge' graphs.  On the right margin we got 5-yr stock index performance for a back drop on our own personal expectations. ...
  • Hillary – Says Business does NOT Create Jobs – Washington Does?

    10/26/2014 6:53:54 AM PDT · by Zakeet · 47 replies
    Armstrong Economics ^ | October 25, 2014 | Martin Armstrong
    We have a very serious problem with Hillary. I was asked years ago to review Hillary’s Commodity Trading to explain what went on. Effectively, they did trades and simply put winners in her account and the losers in her lawyer’s. This way she gets money that is laundered through the markets – something that would get her 25 years today. People forget, but Hillary was really President – not Bill. Just 4 days after taking office, Hillary was given the authority to start a task force for healthcare reform. The problem was, her vision was unbelievable. The costs upon...
  • Japanese Style Deflation Headed to Europe and America?

    10/25/2014 10:13:02 AM PDT · by Kaslin · 20 replies
    Townhall.com ^ | October 25, 2014 | Mike Shedlock
    There's some interesting discussion points in the UK-based Absolute Return Partners October 2014 Letter, by Niels C. Jensen, most of which I agree with, others not. Japan-Style Deflation in Our Backyard? It is no secret that we have been long-standing believers in deflation being a more probable outcome of the 2008-09 crisis than high inflation. What has changed over the past six months is that the world has begun to move in different directions. Whereas rising unit labour costs in the U.S. make outright deflation in that country quite unlikely, the same cannot be said of the Eurozone. Japan-style deflation...
  • Inflation: Not Entirely Tame (Captain Obvious Alert!)

    10/25/2014 2:54:44 PM PDT · by Red in Blue PA · 9 replies
    The graph above shows that after years of holding back inflation rates, the rate of housing inflation is boosting the rate of inflation. Month-to-month housing inflation was up 0.3% compared with the overall inflation rate of 0.1%. It's not just a one-month phenomenon, either, as year-over-year shelter price increases were up 3.0% versus 1.7% for the overall rate of inflation. Unfortunately, shelter is the single biggest component of the CPI calculation, so big moves here are magnified. For some perspective, gasoline is 5% and food is 14% of the CPI calculation. The good news is that consumers, with locked-in mortgages,...
  • My Conservative Credo!

    10/25/2014 2:14:02 PM PDT · by xuberalles · 12 replies
    Self | 10/25/14 | Me
    I believe in the timeless ideals that once made America the "last, best hope of mankind"! I denounce any form of intrusive and unilateral government that does not serve the rights and will of the people. I believe "We the People" can accomplish anything when liberty, hard work and accountability are non-negotiable. We can reform healthcare, without denying individual liberty and caving in to highly inept and wasteful socialized medicine. We can honor legal immigration, the promise that is America, without abandoning our borders and sovereignty. We can reward hard work and private enterprise, the innovative spirit of industry, instead...
  • On The Coming Collapse Of Copper

    10/25/2014 10:47:46 AM PDT · by blam · 29 replies
    Zero Hedge ^ | 10-25-2014 | Tyler Durden
    Tyler Durden 10/25/2014 18 months ago we first brought the world's attention to the end of what has now been exposed as among the largest ponzi schemes in history - the Chinese Commodity Financing Deals (CCFDs) - pointing out how this meant commodities like copper were likely to come under pressure as firms liquidate what minimal holdings they had (and sell out futures hedges) to manage the risk of unwinds in these quasi-collateralized deals. Since then, copper prices have indeed plunged, as has global growth expectations and global bond yields as a realization that 'demand' implied by previous prices was...
  • (Flashback)Unemployment Rate Falls For All The Wrong Reasons

    10/25/2014 7:20:49 AM PDT · by Son House · 2 replies
    CNN Money ^ | April 5, 2013 | Chris Isidore
    The difficulty for younger workers finding jobs is also a factor...The participation rate for those age 16 to 24 was near a 50-year low. Heidi Shierholz, a labor economist with the Economic Policy Institute...She points out that the participation rate of "prime-age" workers, age 25 to 54, also fell to match the lowest reading since 1984. "It's the lack of job opportunities -- the lack of demand for workers -- that is keeping these workers from working or seeking work, not other factors," she said. Shierholz said estimates from the nonpartisan Congressional Budget Office show there are 3.9 million workers...
  • The man who wants to build a plastics factory in North Dakota (Part 1)

    10/24/2014 9:47:15 PM PDT · by 2ndDivisionVet · 11 replies
    Bill Gilliam and North Dakota Gov. Jack Dalrymple announced two weeks ago that a venture called Badlands NGL is trying to build a petrochemical plant in North Dakota. The plant will use ethane, the cheap, abundant component of natural gas that rises from the same wells that produce oil in the Bakken. Natural gas in North Dakota is especially high in ethane content (see deck 39), and Gilliam thinks he can figure out a way to get enough of it in pure form to start cranking out train car loads of plastic beads for industrial use. A lot has to...
  • Russia Tones Down the Rhetoric as Its Economy Struggles

    10/23/2014 12:16:59 PM PDT · by upbeat5 · 13 replies
    The Fiscal times via Yahoo.com ^ | October 23, 2014 | Rob Garver
    Russia’s leaders have continued to criticize the economic sanctions imposed by the West over their invasion of Ukraine, but the official complaints from Foreign Minister Sergei Lavrov have recently taken a more-in-sorrow-than-in-anger tone. The sanctions, Lavrov and others suggest, won’t really hurt the Russian economy in the long term, but are damaging to international cooperation in general. Related Stories Moody's cuts Russia's sovereign rating by one notch to Baa2 MarketWatch Russia warns of ‘prolonged’ period of cold relations with U.S. Fortune [$$] Russia's Debt Downgraded The Wall Street Journal Russia's Investment Grade Status Teeters On Edge Following Moody's Downgrade Forbes...
  • The dangers of deflation The pendulum swings to the pit

    10/23/2014 10:43:12 AM PDT · by expat_panama · 89 replies
    The Economist ^ | Oct 25th 2014 | [editors]
    [snip]The lowflation of being consistently below an already low target is bad in itself; the deflation it could easy lead to is even worse. There are several reasons. The belief that money made tomorrow will be worth less than money today stymies investment; the belief that goods bought tomorrow will be cheaper than goods bought today chokes consumption. Central bankers can no longer set real (that is, inflation-adjusted) interest rates low enough to restore demand. Wages, incomes and tax revenue all stall, undermining the ability of households, businesses and governments to pay their debts—debts which, in real terms, will grow...
  • Who Mines The Dilithium?

    10/22/2014 10:26:03 PM PDT · by 2ndDivisionVet · 43 replies
    Hot Air ^ | May 15, 2009 | Doctor Zero
    One of my favorite little moments in the very entertaining new “Star Trek” movie comes when the young James T. Kirk activates the computer system of a car he swiped for a joyride, and the Nokia logo comes up. It’s nice to see Nokia’s still in business in the twenty-third century. Such simple touches help to humanize the Star Trek universe, which had drifted a bit too far from recognizable human experience for audiences to fully engage with its characters. The presence of a good old-fashioned corporate logo in the new movie put me in mind of a long-ago, free-wheeling,...
  • New York Times: Nation’s Confidence Ebbs at a Steady Drip

    10/22/2014 7:30:42 AM PDT · by SeekAndFind · 15 replies
    New York Times ^ | 10/22/2014 | Peter Baker
    WASHINGTON — In taking office during two overseas wars and the Great Recession, President Obama set out to restore society’s frayed faith in its public institutions, saying that the question was not whether government was too big or small, “but whether it works.” Six years later, Americans seem more dubious than ever that it really does. With every passing week or month, it seems, some government agency or another has had a misstep or has been caught up in scandals that have deeply eroded public confidence. The Internal Revenue Service targets political groups, the Border Patrol is overwhelmed by children...
  • Joe Biden Accidentally Touts Falling Labor Participation Rate

    10/21/2014 12:51:54 PM PDT · by therightliveswithus · 7 replies
    Pundit Press ^ | 10/21/14 | Aurelius
    Joe Biden accidentally touted the low and falling labor participation rate on Twitter by touting the decline in long-term unemployment. The Vice President tweeted this graph, which he says shows a sharp decline in unemployment thanks to jobs created by the Obama Administration: Unfortunately for Mr. Biden, this graph looks oddly similar to this graph, which charts the labor participation rate in the United States: There is a strong correlation between the amount of people who have dropped out of the work force because they have been unemployed for so long and the drop in the unemployment rate. Further complicating...
  • Rental America: Why the poor pay $4,150 for a $1,500 sofa

    10/21/2014 8:49:47 AM PDT · by knak · 150 replies
    washington post ^ | 10/16/14 | harlan
    CULLMAN, Ala. — The love seat and sofa that Jamie Abbott can’t quite afford ended up in her double-wide trailer because of the day earlier this year when she and her family walked into a new store called Buddy’s. Abbott had no access to credit, no bank account and little cash, but here was a place that catered to exactly those kinds of customers. Anything could be hers. The possibilities — and the prices — were dizzying. At Buddy’s, a used 32-gigabyte, early model iPad costs $1,439.28, paid over 72 weeks. An Acer laptop: $1,943.28, in 72 weekly installments. A...
  • Leading Contrarian Economist: “We Are Coming In On The End Game Here” (John Williams)

    10/21/2014 9:40:27 AM PDT · by blam · 47 replies
    SHTF Plan ^ | 10-21-2014 | Mac Slavo
    Mac Slavo October 20th, 2014 To say that the U.S. economy is in trouble would be an understatement. According to Shadow Stats economist John Williams, we may be on the very cusp of a crisis so severe that it promises to re-write the entire paradigm. Debt is out of control and foreign holders of U.S. Treasury bonds are getting antsy. Nowhere is this more obvious than in China and Russia, where leaders of the globe’s other super powers are feverishly working to distance themselves from the U.S. dollar by establishing new monetary relationships that completely bypass the world’s reserve currency....
  • Catching A Glimpse Of America’s Future In Ferguson

    10/20/2014 11:11:11 PM PDT · by 2ndDivisionVet · 14 replies
    Mint Press News ^ | October 20, 2014 | Jeffrey Cavanaugh
    The demographic, cultural and economic changes unfolding in America will eventually leave the country looking a lot like Ferguson today: divided between a rich, white minority establishment and a largely disenfranchised, multi-racial majority. On Oct. 12 the good people of Ferguson, Missouri, continued to protest the unjustified shooting death of black teenager Michael Brown by municipal police officer Darren Wilson. Seventeen people were arrested for participating in an unlawful assembly outside a convenience store, and the following day, 50 others were arrested as part of an organized “Moral Monday” protest challenging St. Louis’ casual acceptance of police violence and brutality....
  • Obama's Latest Speech About The Economic "Recovery" Results In Mass Audience Exodus (Video)

    10/20/2014 1:22:14 PM PDT · by SeekAndFind · 23 replies
    Zero Hedge ^ | 10/20/2014 | Tyler Durden
    Yesterday, Obama made a rare campaign trail appearance in Maryland where he spoke in support of Democratic candidate for governor, Anthony Brown, proceeded with his usual bulletin of reading fabricated economic data off the teleprompter in which he highlighted improvements in US unemployment (if not the 46.5 million people on foodstamps or the 93 million Americans out of the labor force), a rebounding housing market (just as the bouncing dead cat is once again dead), the benefits of health insurance (if no mention of the disaster for small businesses that Obamacare now definitively is) a resurgent manufacturing sector (just...
  • Where is this economic collapse so many are saying will happen?

    10/19/2014 10:20:36 PM PDT · by eekitsagreek · 78 replies
    If you go to different websites or listen to certain radio hosts, there is a lot of discussion of "economic collapse", "dollar collapse" or "petrodollar collapse" and so forth. They make it sound like we will end up like the Weimar Republic with people carrying their worthless money in wheelbarrows. I am not an economics expert (nor do I play one online), but are we really heading for collapse or is it all a bunch of talk? I know we have a huge debt problem, but we keep printing money. How long can this keep going? I am confused! Any...
  • Sleepless Socialists in Seattle!

    10/19/2014 5:17:17 PM PDT · by xuberalles · 32 replies
    Self | 10/19/14 | Me
    Apparently asking $15 an hour for fast food workers isn’t enough so unappreciated socialists in Seattle are demanding the minimum wage be raised to a “paltry” $20 an hour. There are skilled and educated professionals who don’t command such a wage, not to mention soldiers facing death daily on the front lines of tyranny, but these hypocrites who religiously shell out $5 for a cup of Joe are demanding social justice because they feel slighted by more accomplished Americans? If radical leftists ever succeed in enacting such a law, and I believe it’s only a matter of time before they...
  • A wealthy Michigan suburb who built FENCES across the streets to keep out Detroit 'have-nots'

    10/19/2014 1:18:08 PM PDT · by CorporateStepsister · 92 replies
    Daily Mail ^ | 19 October 2014 | Sophie Jane Evans for MailOnline
    On one side, there are dilapidated houses, gardens overflowing with weeds and a high crime rate. On the other, there are streets filled with spacious homes, well-manicured lawns and yoga studios. This is one of numerous fences that have been erected by the wealthy 'haves' of the Michigan suburb of Grosse Pointe Park to 'prevent 'have-nots' from Detroit from driving into the city'. The brick barrier, reading 'Road Ends', represents a significant divide between the two cities, which despite their proximity, differ greatly in terms of average salary, crime rates and general desirability.
  • Investment & Finance Thread Market Bounce Re-cap

    10/19/2014 11:18:38 AM PDT · by expat_panama · 80 replies
    Weekly investment & finance thread ^ | Oct. 19, 2014 | Freeper Investors
    This past week saw upside reversals across the board coming out with prices holding steady in spite of the hammering we had over the past month or two.  [click pix to enlarge]The October metals rally held on to its gains, in fact market prices show gold's just about clawed back to break-even for 2014.  That's said, metals' role in price trends ahead is become increasingly controversial (re Gold And Silver - Financial World: House Of Cards Built On Sand) even while many see a bright tomorrow with other commodities (We Maintain Our Outlook For Higher Prices For Commodities).  Stocks.  OK,...
  • Interview: Why This Tea Party Activist Is Fighting for Solar

    10/19/2014 6:48:24 AM PDT · by Cincinatus' Wife · 34 replies
    Green Tech ^ | September 11, 2014 | Midwest Energy News, Kari Lydersen
    Debbie Dooley is not a tree-hugger -- in fact she bills herself as a radical right-wing grandmother, and she is a founding member of the national Tea Party and a leader of the Atlanta Tea Party group. But Dooley is also an outspoken proponent of distributed solar generation and other forms of renewable distributed energy. She will be the featured speaker next week at the Wisconsin Solar Energy Industries Association’s Solar Social Speakers series -- as advocates in the state say solar is under attack by elected officials, regulators and major utilities. While in Wisconsin, Dooley will also visit a...
  • New York Dominates 2014 List of America's Most Expensive ZIP Codes

    10/18/2014 8:42:06 PM PDT · by 2ndDivisionVet · 9 replies
    Forbes Magazine's Life Blog ^ | October 8, 2014 | Erin Carlyle
    In Atherton, Calif., 94027, the most expensive home currently on the market is a 12,840-square-foot Mediterranean mansion with a $21.988 million price tag. Not a millionaire? Good luck finding a place to live in this Silicon Valley enclave. The least expensive home for sale in the 94027 ZIP code is a 1,370-square-foot, two-bedroom, two-bath bungalow. In other words, a starter home–with an asking price of $1.499 million. The median price of the 24 homes listed for sale over the summer was $9.03 million, making Atherton the most expensive ZIP code in America for the second year in a row. “Atherton...
  • The Magical Land of Progressitopia

    10/18/2014 8:29:26 PM PDT · by 2ndDivisionVet · 2 replies
    The Blaze ^ | October 15, 2014 | Matt Barber
    There once was a land, a magical land, with a chicken in every pot. And in this land, which was called Progressitopia, there were two peoples. There were those who saw the world as it was, and there were those who saw the world as they oh-so-very-much wished it could be. The former were called the Trads, and the latter, the Progs. It was the Progs who held dominion over this great land, and so it was they who wrote, or re-wrote, her history. Now, in this kingdom we must remember that Christianity, or “Christianism” as it would later be...
  • Mayor Rawlings on Ebola: 'Dallas is safe'

    10/18/2014 3:03:39 PM PDT · by re_nortex · 29 replies
    WFAA ^ | Oct 18, 2014 | Walt Zwirko, WFAA
    Dallas Mayor Mike Rawlings is making a direct appeal to potential tourists and convention planners who may be having second thoughts about travel to the city that has become the epicenter of Ebola in America..
  • Editorial: We recommend Greg Abbott for Texas governor (Dallas Morning News!)

    10/18/2014 4:31:05 PM PDT · by 2ndDivisionVet · 20 replies
    The Dallas Morning News ^ | October 16, 2014 | The Editors
    Texas’ two leading gubernatorial candidates have earned our respect despite their flaws. Republican Greg Abbott is the model of perseverance for fighting back in a wheelchair from a spine-crushing 1984 accident to become attorney general. Democratic state Sen. Wendy Davis demonstrated exceptional courage with her 2013 Senate filibuster to halt legislation aimed at restricting abortion rights. These two uphold Texas’ fighting spirit. When this newspaper weighs all the issues, however, Abbott tips the balance as the candidate most capable of sustaining the state’s economic success and holding in check growing extremism in the state GOP. Texas Republicans’ hard-right swing in...
  • Lower oil prices are unambiguously good

    10/17/2014 9:03:36 PM PDT · by Abakumov · 41 replies
    Human Events.com ^ | October 18, 2014 | Larry Kudlow
    Steep stock market corrections often create shrouds of pessimism that do bad things to people’s brainpower. And one of the absolutely stupidest things I have heard in recent weeks is that the recent drop in oil prices is bad. You heard me right. Serious people on financial television are saying lower oil prices are a signal of worldwide economic collapse. Here at home that translates to recession, deflation, a profits collapse and rising unemployment. I’ve been around for a while, and I’ve seldom heard such gibberish. The latest stock market scare stems from a bunch of fears — such as...
  • GOLDMAN: Here's The Worst-Case Scenario For Ebola (Business - Economy)

    10/17/2014 5:36:58 AM PDT · by blam · 10 replies
    BI ^ | 10-17-2014 | Sam Ro
    Sam Ro October 17, 2014The spread of the Ebola virus has been dominating headlines in recent weeks. While the ultimate death toll may be limited, the economic impact could potentially be significant. The "'fear factor' associated with Ebola appears more significant than in past instances of pandemic concern, in our view," Goldman Sachs' Kris Dawsey writes. Dawsey studied how other recent pandemic events ultimately played out in the US and Hong Kong. "Recent episodes of pandemic concern in the US — including SARS in 2003, bird flu (H5N1) in 2005, and swine flu (H1N1) in 2009 — resulted in little...
  • Markets Are Surging

    10/17/2014 4:02:26 AM PDT · by blam · 9 replies
    BI ^ | 10=17-2014 | Mike Bird
    Mike Bird October 17, 2014European markets are rallying on Friday, but it looks as if there is going to be some incredible volatility again following a rocky day for stocks. France's CAC 40 is up 1.78% Spain's IBEX is up 1.95% Italy's FTSE MIB is up 1.70% Britain's FTSE 100 is up 1.04% Germany's DAX is up 1.68% In Asia, Japan’s Nikkei closed down 1.40%. It’s now down 9.48% since the start of the year, one of the worst-performing indices in the advanced economies during 2014 so far. Hong Kong’s Hang Seng closed up 0.60%. US stock futures are climbing,...
  • Low Oil Prices: A $660 Billion Stimulus Package

    10/17/2014 3:01:13 AM PDT · by 2ndDivisionVet · 18 replies
    BuzzFeed News ^ | October 16, 2014 | Matthew Zeitlin
    Crude prices have plunged by more than 20% in recent months. The fall means cheaper gas, cheaper flights, and generally good news for American consumers. Oil prices have been falling for months, and the slide could easily continue. With unprecedented instability in the Middle East, how could this be happening? The answer, according to analysts who follow the market, is a little bit of everything, from economic fundamentals in big oil consuming countries to growth in output among some oil producers. But much more clear is the effect of tumbling prices: Low oil prices are the equivalent of a massive...
  • Seattle Socialist Group Pushing $20/hr Min. Wage Offers $13/hr for Web Developer

    10/16/2014 1:25:32 PM PDT · by therightliveswithus · 22 replies
    Pundit Press ^ | 10/16/14 | Aurelius
    It's sometimes said that if some people didn't have double standards, they'd have no standards at all. That applies to the Freedom Socialist Party. In 2012, their official website was pushing for a drastic increase in the minimum wage. In fact, they pushed for a full $20 per hour minimum wage, even for the most basic jobs: Well, if you are a socialist, I have good news: the Freedom Socialist Party is hiring! They must have competitive wages for a web developer, right? Not exactly. The people who want people who flip hamburgers for a living to earn $20 an...
  • Ebola, Meet The ADA: Advice For Employers On Handling The Outbreak

    10/16/2014 10:46:19 AM PDT · by 2ndDivisionVet · 27 replies
    Forbes ^ | October 16, 2014 | Daniel Fisher, A. Kevin Troutman and Matthew Korn
    How should employers respond when they learn that an employee is planning a trip to West Africa to visit family? What if other employees refuse to come to work because they fear that the returning employee may have been exposed to Ebola Virus Disease? How can employers prepare in advance for such situations? Based on extensive news media coverage of the spread of Ebola in West Africa, and the recent transmission of the virus in the United States, many employers are scrambling to answer these questions. The right response depends on several factors and there is no one-size-fits-all solution. However,...
  • The U.S. Economic Recovery Is Still On Food Stamps

    10/16/2014 7:08:40 AM PDT · by SeekAndFind · 19 replies
    RCM ^ | 10/15/2014 | Riobert Doar
    Something peculiar is happening to our nation's food assistance program. The recently renamed food stamp program - now called the Supplemental Nutrition Assistance Program or SNAP - is supposed to respond to difficult economic conditions by providing financial assistance to purchase food to poor Americans. As bad times hit and more people need assistance, SNAP caseloads should go up. And as the economy strengthens, the number of SNAP recipients should decline - at least in theory.For most of the history of the program, that is what happened. As the accompanying chart shows, from 1969 until 2003, SNAP has been very...
  • 12 Charts That Show The Permanent Damage That Has Been Done To The U.S. Economy

    10/16/2014 7:00:43 AM PDT · by SeekAndFind · 17 replies
    TEC ^ | 10/15/2014 | Michael Snyder
    Most people that discuss the "economic collapse" focus on what is coming in the future. And without a doubt, we are on the verge of some incredibly hard times. But what often gets neglected is the immense permanent damage that has been done to the U.S. economy by the long-term economic collapse that we are already experiencing. In this article I am going to share with you 12 economic charts that show that we are in much, much worse shape than we were five or ten years ago. The long-term problems that are eating away at the foundations of our...
  • Could It Possibly Get Any Worse?

    10/16/2014 3:07:16 AM PDT · by Zakeet · 20 replies
    P.J. Media ^ | October 15, 2014 | Roger L. Simon
    Let’s review: The stock market is in free fall. The Islamic State is on the brink of taking Baghdad and Kobani. The Ebola crisis is spreading and seems on the verge of becoming a pandemic while the CDC is being unmasked as incompetent. The Iran talks are a charade and everyone expects that country to get the bomb. Our vaunted college campuses are transfixed by so-called micro-agressions and a supposed rape epidemic while banning the likes of Ayaan Hirsi Ali and George Will (!) from speaking — and they still cost nearly $70,000 a year. Our putative ally Turkey —...
  • Waiters No More: Unemployed Actors Now Drive Ubers

    10/16/2014 12:20:46 AM PDT · by 2ndDivisionVet · 3 replies
    The Hollywood Reporter ^ | October 10, 2014 | Natalie Jarvey
    Been pitched while in the backseat of a car service? That may be because 60 percent of Lyft drivers also had jobs (or aspirations for one) in the entertainment industry.Before passengers exit from the back of Jerry terHorst's Honda Civic, he makes sure to hand them his card. "Future Famous Actor," it says in block letters. Then, if he gets the chance before they make it to the curb, he tells them about the web series he's working on with his roommate. "I don't want to be that L.A. guy who's like, 'Oh, my web series ...' " he says....
  • How Reparations Could Happen

    10/15/2014 10:52:21 PM PDT · by 2ndDivisionVet · 103 replies
    Ebony Magazine ^ | September 23, 2014 | Hamilton Nolan
    Reparations will amount to a transfer of wealth from the more powerful to the more powerless. This is the closest approximation of justice that I would imagine is possible. We will now engage in some purposely simplified back-of-the-envelope math. Imagine a nationwide, one-time infusion of wealth to those who live at the lower end of America's economic pyramid. Let's take as our starting point that Black households have roughly 60% of the income and 5% of the wealth that White households do. (Hispanic households have just a tiny bit more wealth than Black households. Median household net worth is about...