Keyword: economy

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  • An Economic Indicator That Predicted The Last 7 Recessions Predicts No Recession Any Time Soon

    12/18/2014 8:03:43 PM PST · by blam · 19 replies
    BI - Guggenheim Partners ^ | 12-18-2014 | Scott Minerd
    Scott Minerd, Guggenheim Partners December 18, 2014 Plunging oil markets and faltering growth expectations around the world have raised fears about the sustainability of the current U.S. economic expansion. The economic data, though, suggest that these fears are largely unfounded. The Conference Board’s Leading Economic Index, which is made up of 10 forward-looking economic and financial indicators, has not fallen since January and has been gaining momentum throughout the year. (snip)
  • A Downhill Run for the Dollar in 2015

    12/18/2014 7:37:48 AM PST · by GilGil · 15 replies
    Gold-Eagle ^ | 12/17/2014 | John Williams
    "I'll give you a couple of things to look for in 2015. Fundamental economic activity as measured in areas such as retail sales, industrial production, housing starts, payroll numbers and the broadest measure of unemployment—all those numbers are going to deteriorate. The economy is going to head down as we get into reporting in early 2015. Along with that will come renewed expectations of action by the Federal Reserve to accommodate the financial system, particularly the banking system, and the combination of those factors will, I believe, help to trigger a massive decline in the U.S. dollar. As a result...
  • Oil drop sends major central banks in different directions

    12/18/2014 6:58:19 AM PST · by mac_truck · 2 replies
    Reuters ^ | 12/18/2014 | Paul Carrel, Mike Peacock and Howard Schneider
    The world's major central banks are scrambling to work through the implications of the near halving of the price of oil in the second half of 2014, and they are coming up with very different conclusions. Perhaps unsurprisingly, policymakers looking at robust economic recoveries such as in the United States and Britain are focused on the likely boost to growth and consumption from markedly lower energy prices and the later upward impact that should have on inflation. But for the European Central Bank, battling to revive a moribund economy, the worry is whether cheap oil could tip the euro zone...
  • Obama Didn't Spread the Wealth, He Concentrated It, Pew Study Finds

    12/18/2014 4:22:34 AM PST · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 12/17/2014 | John Merline
    Here's more evidence of just how successful President Obama has been at "spreading the wealth around" since he took office. A Pew Research Center report released on Wednesday found that the gap in net worth between the country's wealthy and the middle class reached record highs in 2013 -- the last year for which it has data. According to Pew, which used data from the Federal Reserve's Survey of Consumer Finances, upper-income median net worth in 2013 was 6.6 times greater than the median net worth of middle-income families ($639,400 vs. $96,500).
  • Fox News finds new way to scare its viewers, warns of Dish blackout

    12/17/2014 8:48:51 PM PST · by KeyLargo · 38 replies
    FireceCable ^ | 12-15-2014 | Daniel Frankel
    Fox News finds new way to scare its viewers, warns of Dish blackout December 15, 2014 | By Daniel Frankel Already adept at scaring its rapt audience, Fox News has begun warning Dish Network (NASDAQ: DISH) subscribers that the channel, along with Fox Business News, could disappear from their program guides "any day now." The campaign features the usual TV spots, directing viewers to visit the "protest the operator" website, in this case KeepFoxNews.com. Fox News versus Dish Fox's post urged Dish subscribers to call the satellite operator. (Source: KeepFoxNews.com) A Fox News blog post notes, "Despite the undeniable demand...
  • GOP majority can jump-start economy with tech agenda

    12/17/2014 8:35:08 AM PST · by Mellonkronos · 8 replies
    Washington Examiner ^ | December 15, 2014 | DEREK KHANN
    The Obamas open up about raising their daughters, the impact of stereotypes, and what's on the POTUS dance party playlist. Subscribe now for instant access to the exclusive PEOPLE interview! -snip- "I think people forget that we've lived in the White House for six years," the first lady told PEOPLE, laughing wryly, along with her husband, at the assumption that the first family has been largely insulated from coming face-to-face with racism. "Before that, Barack Obama was a black man that lived on the South Side of Chicago, who had his share of troubles catching cabs," Mrs. Obama said in...
  • Consumer Prices Plunge Most Since December 2008 ("US economy is well on the road to recovery")

    12/17/2014 7:01:23 AM PST · by blam · 31 replies
    Zero Hedge ^ | 12-17-2014 | Tyler Durden
    Tyler Durden 12/17/2014Great news: The prices consumers pay dropped 0.3% MoM in November - the biggest deflation since Dec 2008. Of course, The Fed will be in "considerable" panic mode at this data and may choose to crush the hope of so many that rate hikes are coming in mid-2015 as definitive evidence that the US economy is well on the road to recovery. Ex-Food-and-Energy, prices rose 1.7% YoY - slightly missing expectations of +1.8%. Of course, a big driver of this 'transitory' disinflation is a 10.5% YoY drop in Gasoline and 6.6% MoM drop in November. Despite this huge...
  • Mercedes-Benz reportedly weighing move to Atlanta from Montvale (NJ)

    12/16/2014 8:49:16 PM PST · by PROCON · 6 replies
    northjersey.com ^ | Dec. 16, 2014 | LINDA MOSS
    The German luxury automaker Mercedes-Benz is looking to move its 1,000-employee North American headquarters from Montvale to Atlanta, several sources said Tuesday. The Atlanta Business Chronicle first reported on Tuesday that Mercedes-Benz USA is considering the move. A company spokesman declined to comment on the report, but several sources told The Record that Mercedes-Benz was indeed considering leaving Bergen County. One source within the company told The Record that an announcement on a move may come in January, at a company reception. “As a matter of policy, the company does not comment on rumors or speculation,” said Mercedes-Benz spokesman Rob...
  • Russian Ruble Crashes to World's Worst-Performing Currency

    The ruble collapsed by 10 percent against the U.S. dollar Monday earning the Russian currency the dubious laurels of the world’s worst-performing currency this year. The Russian currency has now fallen 49.3 percent against the greenback since January, according to data from the Moscow Exchange. The drop takes it below the Ukrainian hryvna, which has weakened 47.9 percent in 2014. Monday’s plunge was the largest single-day fall for the ruble since the financial crisis of 1998 when Russia was forced to default on its debt after exhausting its reserves in a fruitless bid to prop up the currency. In evening...
  • WTI Crude Craters To $55 Handle, High-Yield Credit Crashing-er

    12/15/2014 12:14:43 PM PST · by tcrlaf · 19 replies
    Zerohedge ^ | 12-15-2014 | Durden
    Having almost touched $59 overnight, WTI crude has collapsed back to a $55 handle, smashing the Ruble lower and high-yield credit spreads higher. US financial stocks are starting to weaken back towards the credit market's warnings as counterparty risk concerns spread...
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • Industrial Production Explodes In November

    12/15/2014 7:08:00 AM PST · by blam · 8 replies
    BI ^ | 12-15-2014 | Myles Udland
    Myles Udland December 15, 2014Industrial production had a huge rebound in November. Industrial production rose 1.3% in November according to the latest report from the Federal Reserve. Expectations were for the report to show industrial production rose by 0.7% in November, better than October's 0.1% contraction. October's number was revised up to 0.1% from -0.1%. Capacity utilization also rose sharply, to 80.1% from a revised reading of 79.3%. Capacity utilization was expected to rise, to 79.4% from 78.9%. This rate of capacity utilization is now equal to its long-run average spanning 1972-2013 and hit its highest level since March 2008....
  • The Destruction of America’s Pension Plans

    12/14/2014 9:00:16 AM PST · by Oldpuppymax · 18 replies
    Coach is Right ^ | 12/14/14 | Suzanne Eovaldi
    The just passed $1.1 trillion Cromnibus (Continuing Resolution and Omnibus) check float that successfully got through the Republican controlled US House contains language that could gut pension plans, according to analyses by both conservative and leftist web writers. “The pension provision was made public late Tuesday night,” says a web source that blasts efforts to write down public pension allotments. (1) Mike Adams of Health Ranger warns that “all the pension benefits that have been promised government retirees are about to be stolen back from retirees.” (2) Quoting a WaPo article, Adams also points out that “the proposal would torpedo...
  • Is this the future of fashion? First-ever 4D dress created using a printer is unveiled

    12/14/2014 11:18:46 AM PST · by 2ndDivisionVet · 19 replies
    The London Daily Mail ^ | December 14, 2014 | Bianca London
    As many women know only too well, finding a dress that fits like a glove is no easy task. But a new dress, created using a 3D printer, may be the answer to every woman's style woes. A design studio have used 3D printing technology to create an innovative dress customised to a woman’s body. The dress, which costs a staggering £1,900 ($3,000) to print, features 2,279 printed panels interconnected by 3,316 hinges. Creators Nervous System call it a ‘4D dress’ as, like fabric, the printed garment can go from a compressed object to its intended shape. Jessica Rosenkrantz, co-founder...
  • We’re Number Two

    12/14/2014 10:51:14 AM PST · by Sean_Anthony · 6 replies
    Canada Free Press ^ | 12/14/14 | Alan Caruba
    The fact remains that Main Street is in trouble. The nation requires an economy in which new businesses are created and existing ones can afford to expand. That is not happening The U.S. was the world’s number one economy prior to World War II, but it took off bigtime after the war and there has not been a day of my long life in which we were not number one—until now. The International Monetary Fund recently released its calculations regarding the world’s economy and concluded that China is the number one economy, producing $17.6 trillion in terms of goods and...
  • What Oil Shock and Repub. Cave Mean to Stocks and GDP; Investment & Finance Thread - Dec. 14

    12/14/2014 7:43:31 AM PST · by expat_panama · 151 replies
    Weekly investment & finance thread ^ | Dec. 14, 2014 | Freeper Investors
    So while nobody knows the future we still need to know what to expect from the week's two big headlines, even though our view can easily (and will probably) be muddied w/ other factors.  So we deal with an unknown future by checking the historical record for clues on at what the news means to our future investment returns.  What oil bargains do:  namely, what's it doing to the economy and to investments; here's what tanking oil's done in the past (ya gotta LOVE the fed's data site) and how real oil prices (2014$ per barrel) track real GDP-- [click...
  • Lower Oil and King Dollar Are Unambiguously Good: Don't Listen to the Naysayers

    12/13/2014 5:43:29 AM PST · by SeekAndFind · 4 replies
    National Review ^ | 12/12/2014 | Larry Kudlow
    We all know that the American energy revolution, led by the new technologies of hydraulic fracturing and horizontal drilling, has created a flood of new shale-oil and natural-gas production that has overwhelmed world markets and driven prices down by roughly 40 percent. End-of-week crude oil closed near $57 a barrel, and the national average gasoline price finished at $2.60. No matter what the naysayers are trying to sell, the new energy reality is unambiguously good for the U.S. and global economies. There may be some dislocations among countries, sectors, or companies, but the overwhelming impact is positive. In fact, the...
  • Obama's Science and Tech Adviser, Holdren, laid foundation for understanding environmental probs

    12/12/2014 11:48:13 AM PST · by Cincinatus' Wife · 2 replies
    Volvo Environment Prize ^ | December 12, 2014
    "In 1993, the [Volvo Environment] Prize went to Professor Paul R. Ehrlich of Stanford University and Professor John P. Holdren of the University of California in Berkeley, whose work laid the foundations of our understanding of how the dynamics of population growth, rising living standards and changing technology, as well as the relationships between them, interact in the context of environmental problems." List of past winners (and their work) from 1990 - 2014 Professor Paul R. Ehrlich, Professor John P. Holdren
  • GOP to Obama: We're Writing the Budget Now. Get Used to It

    12/12/2014 9:27:00 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 12, 2014 | Donald Lambro
    WASHINGTON - The nation's divided Congress battled down to the wire this week over its budget for the rest of this fiscal year -- hoping to avoid a government shutdown. The $1.01 trillion spending bill must be passed before midnight Thursday, though at this writing few were placing any big bets on meeting that deadline. Still, Congress has dodged budget deadlines before and may do so again. If for no other reason than to drive a stake through the heart of a bitterly divided, unpopular legislature that can't seem to agree on anything except going home for the holidays. This...
  • The Trillion Dollar Market: Fuel in Space from Asteroids

    12/11/2014 11:56:21 PM PST · by WhiskeyX · 1 replies
    YouTube ^ | Jun 10, 2014 | Planetary Resources
    Asteroid sourced hydrogen and oxygen will literally and figuratively fuel expansion of the space economy by providing a locally sourced fuel resource that will change how industry operates in space. While existing satellites cannot be refueled directly today, space tugs fueled by asteroids that are currently being developed, will maneuver Geostationary satellites into their assigned orbit. Thus, keeping them operating and generating revenue far beyond their current life expectancy. Water from asteroids can also be used for a plethora of other applications beyond fuels in space. It can be consumed, used as a radiation shield for humans during deep space...
  • Why Did The Treasury Department Just Purchase Thousands of Survival Kits For Bank Examiners?

    12/10/2014 9:37:07 PM PST · by Kartographer · 68 replies
    SHTF Plan ^ | 12/10/14 | Mac Slavo
    The latest eye-opener comes from the U.S. Treasury, a department tasked with managing the country’s debt as well as the banking system as a whole. According to a new report the Treasury Department has ordered over $200,000 Survival Kits for as many as 3,814 employees who oversee the federal banking system. It’s not clear why the federal government has ordered the kits, but perhaps they are expecting some sort of disturbance to take place and they want their employees to be prepared for it. According to Zero Hedge, the kits will be delivered to every major bank in the United...
  • $100 Trillion American Economic Collapse with Jim Rickards

    12/11/2014 8:11:12 AM PST · by Ghost of SVR4 · 7 replies
    Youtube ^ | Oct 21, 2014 | Jim Rickards
    I don't know too much about Jim Rickards, just found this to be an interesting video about the overall economy and some tidbits about what our government agencies are up to. The video is a 45 minutes long interview of sorts and discussion. Just posting in the event other are interested.
  • What happens to society when robots replace workers?

    12/10/2014 1:05:31 PM PST · by giant sable · 43 replies
    Harvard Business Review.com ^ | December 10, 2014 | William Davidow & Michael S. Malone
    The technologies of the past, by replacing human muscle, increased the value of human effort – and in the process drove rapid economic progress. Those of the future, by substituting for man’s senses and brain, will accelerate that process – but at the risk of creating millions of citizens who are simply unable to contribute economically, and with greater damage to an already declining middle class.
  • Minimum wage dissent: San Jose's law resulted in lost jobs [many restaurants cut jobs and hours]

    12/10/2014 2:17:10 AM PST · by grundle · 28 replies
    San Jose Mercury News ^ | December 9, 2014 | Michael Saltsman
    San Jose's new minimum wage took effect on March 13, 2013, although employers had the previous three months to prepare for the increase. That year, the unemployment rate for young adults in the San Jose metro area jumped sharply by six percentage points -- from 14 percent in 2012 to 20 percent in 2013... Meanwhile, the overall unemployment rate in the same area fell by nearly two percentage points, suggesting that young adults suffered while others did quite well. ... an EPI survey of 163 restaurants in San Jose, 45 percent of which cut employee hours and 42 percent of...
  • Ruble crisis lends itself to Russian jokes

    12/09/2014 2:10:54 AM PST · by Berlin_Freeper · 11 replies
    washingtonpost.com ^ | December 9, 2014 | Karoun Demirjian
    MOSCOW — As the falling ruble and depressed oil prices push Russia’s once-booming economy into the red, ordinary Russians are doing everything they can to lighten the mood – with black humor. Dark humor is as much a Russian specialty as fine caviar, perfected during the more difficult years of the Soviet Union and over centuries of bleak, sunless winters. Russians routinely reach their peak joking creativity when times are their worst – and the current ruble-and-oil-and-sanctions-driven economic crisis is proving the ideal muse to inspire such irreverent expression. “What do Russian President Vladimir Putin, the price of oil, and...
  • Weekend Box Office Collapses to 16 Year Low

    12/08/2014 1:15:59 PM PST · by Zakeet · 95 replies
    Brietbart ^ | December 8, 2014 | John Nolte
    Despite the best efforts of Jennifer Lawrence, two big family films, some horrible bosses, and The Mighty Christopher Nolan, according to Deadline, the weekend's box office collapsed to a 16-year-low. Box Office Mojo reports the weekend earned just $70.4 million, which Deadline says is the worst post-Thanksgiving weekend, going all the way back to 1998. Mojo adds that this weekend was the second-worst of the year and somewhere around a 20% drop over this same weekend last year.
  • Beyond Hypothetical: How FCC Internet Regulation Would Hurt Consumers [Cruz was Right]

    12/08/2014 12:51:26 PM PST · by SoConPubbie · 14 replies
    Heritage.org ^ | November 25, 2014 | James L. Gattuso and Michael Sargent
    AbstractThe FCC has proposed new regulations for Internet service providers, so-called net neutrality rules; the specific practices such rules would ban are unclear. While much will depend on the how the final rules are written, regulation advocates have given some indication of the types of practices they would target. Most of the practices identified by regulation supporters as activities that should be prohibited are in fact beneficial to consumers, or are conducted by challengers to the dominant firms in the marketplace. These cases—identified as examples of neutrality violations by regulation supporters themselves—show that efforts to further regulate the open...
  • Plummeting Oil Prices Could Destroy The Banks That Are Holding Trillions In Commodity Derivatives

    12/08/2014 10:10:30 AM PST · by SeekAndFind · 43 replies
    The Economic Collapse Blog ^ | 12/08/2014 | Michael Snyder
    Could rapidly falling oil prices trigger a nightmare scenario for the commodity derivatives market? The big Wall Street banks did not expect plunging home prices to cause a mortgage-backed securities implosion back in 2008, and their models did not anticipate a decline in the price of oil by more than 40 dollars in less than six months this time either. If the price of oil stays at this level or goes down even more, someone out there is going to have to absorb some absolutely massive losses. In some cases, the losses will be absorbed by oil producers, but many...
  • China's Now The World Number One Economy And It Doesn't Matter A Darn

    12/08/2014 8:00:16 AM PST · by SeekAndFind · 17 replies
    Forbes ^ | 12/08/2014 | Tim Worstall
    There’s much worrywarting over the new figures from the IMF IMF telling us the fact that China is now the world’s number one economy in terms of size. The truth is though that, other than for collectors of statistical trivia, this really isn’t important. Perhaps on a par with wondering how Lady Gaga is going to dress next but no more than that. Because the whole idea of “an economy” as defined by the borders of a nation state is pretty arbitrary anyway and further, it matters a great deal more how many people that economy is spread over than...
  • China Trade Surplus Climbs to Record as Imports Drop on Oil

    12/08/2014 1:57:45 AM PST · by Cringing Negativism Network · 2 replies
    Bloomberg News ^ | Mon, Dec 8, 2014, 4:51 AM EST | Xiaoqing Pi
    China's trade surplus climbed to a record in November after an unexpected decline in imports (CNFRIMPY) on lower crude oil and other commodity prices. (please see link for full article)
  • What Could Go Wrong? Communists Return To Power In East German State

    12/08/2014 12:58:07 AM PST · by wetphoenix · 23 replies
    The Daily Caller via Yahoo! ^ | December 6, 2014 4:18 PM
    A left-wing party with communist roots now controls the levers of government in the German state of Thuringia, marking the first time a political party closely linked to East Germany’s communist leadership has gained power since German reunification in 1990. The party is, appropriately enough, the Left Party, reports The Telegraph. This week, the state parliament in Thuringia narrowly voted to authorize a new coalition with the Left Party at the helm. The three-way coalition also includes the Green Party. The Left Party is viewed as the successor to the Socialist Unity Party which controlled East Germany when it was...
  • Are We Reliving The 1930s?

    12/07/2014 9:11:25 PM PST · by Nachum · 21 replies
    zero hedge ^ | 12/7/14 | tyler durden
    Submitted by Neil Howe - author of The Fourth Turning, originally posted at Forbes.com,At the close of last week’s G20 Summit, U.K. Prime Minister David Cameron warned that we’re on the verge of another global recession, citing problems like looming deflation, falling prices, and rising protectionist sentiment. This list evokes a sense of déjà vu: not about the Great Recession, but the Great Depression. That was the last time we ever seriously worried about disinflation, along with every practically other aspect of economic performance raising alarm bells today: low interest rates, weak investment, slow productivity growth, and chronic labor force...
  • Will State And Local Governments Shutdown The New Generation Of Small Business Owners?

    12/07/2014 10:37:15 AM PST · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 12/07/14 | Austin Hill
    AirBnB.Com, Uber.Com: If you own a house or car, should you be free to do what you want with it? If your plans for your personal property include making money, then you may find out the hard way that, no, you can’t do as you wish. That’s the harsh lesson being learned by many Americans as they participate in the new, burgeoning freelance services industries. Consider Raleigh, North Carolina resident Gregg Stebben. He and his wife Jodi are registered as service providers with AirBnB.Com, the new online venture that matches travelers in search of lodging with private homes, extra bedrooms...
  • This Week --December 11 Budget Decision; Investment & Finance Thread

    12/07/2014 8:02:25 AM PST · by expat_panama · 81 replies
    Weekly investment & finance thread ^ | Dec. 7, 2014 | Freeper Investors
    Soap box time. Even as we speak the hired help in Washington are working out how to deal with the fact that the current budget continuing resolution expires this Thursday.  We got rumors galore on what they're coming up with but let's face it--  this is just not their strong point.  We're in a situation where the hired help is going to need our intensive supervision.  I know it's a lot of work to keep 'em in line but it's what we do.We can google here to find your congress contact info and I found this site good for senators...
  • 'Buckwheat panic' Grips Russians As Economic Sanctions Bite

    12/06/2014 9:46:57 PM PST · by TigerLikesRooster · 39 replies
    NDTV ^ | December 07, 2014
    'Buckwheat panic' Grips Russians As Economic Sanctions Bite World | Agence France-Presse | Updated: December 07, 2014 10:31 IST Moscow: With its warm, fluffy brown grains, buckwheat is the ultimate comfort food for Russians and as sanctions hit home, it is flying off the shelves in a shopping frenzy dubbed the "buckwheat panic". Hard-hit by falling oil prices and Western economic sanctions imposed over the Kremlin's role in the Ukrainian crisis, Russia is seeing a catastrophic depreciation of the ruble and steep inflation. But while Russians grumble about the rising price of chicken, cheese or sausage, it was only when...
  • Next up: Illinois municipal bankruptcy?

    12/06/2014 3:11:43 PM PST · by Graybeard58 · 18 replies
    Chicago Sun Times ^ | 12-6-'14 | Andrew Schroedter and Patrick Rehkamp
    At its recent annual conference the Illinois Municipal League, a century old adviser and advocate for local government, took the unprecedented step of sponsoring an in-depth session on a volatile topic: hometown bankruptcies. The Sept. 18 session, entitled “Finance: Lessons from Detroit and Pension Cases,” couldn’t have been timelier. Many of Illinois’ municipal leaders are warily eyeing Motown’s bankruptcy proceeding while questioning whether their financially desperate and cash-crunched cities, suburbs and villages could face the same fate, a Rescuing Illinois investigation finds. At the very least, these leaders are now, more than ever before, openly questioning if bankruptcy is a...
  • Why Gasoline Prices Are Down -- And How to Keep It That Way

    12/06/2014 12:16:40 PM PST · by Kaslin · 32 replies
    Townhall.com ^ | December 6, 2014 | Ed Feulner
    If you’re like most Americans, you haven’t been questioning the welcome drop in gasoline prices. You just fill ’er up and feel grateful that you’re spending less.But why has this remarkable drop come about? And what can we do to help keep prices lower?Some of it, unfortunately, is beyond our control. Worldwide demand for oil is down now. That always causes the cost of gasoline to drop.But the other side of the equation -- the part that is under our control -- has gone largely unheralded in many media accounts: the boom in U.S. energy production. Simply put, we’re producing...
  • China surpasses U.S. to become largest world economy

    12/06/2014 8:10:46 AM PST · by Patriot777 · 20 replies
    Fox News.com ^ | December 06, 2014 | unknown
    For the first time in decades, the U.S. is no longer the largest economy in the world, and China has become number one, the International Monetary Fund says. The IMF recently released the latest numbers for the world economy, stating that China will produce $17.6 trillion in terms of goods and services-- compared with $17.4 trillion for the U.S. Just 14 years ago, the U.S. produced nearly three times as much as the Chinese, Dow Jones’ MarketWatch reported. But each country reports its data in its own currency, according to the IMF website. In order to compare data, each country's...
  • Chris Rock’s econ bombshell: What his “riots in the streets” prediction says about American Dream

    12/05/2014 8:28:49 PM PST · by 2ndDivisionVet · 40 replies
    Salon ^ | December 3, 2014 | Elias Isquith
    Comedian reveals what it means to be rich today -- and how little the average American really understands about it. I’ve already written a bit about Chris Rock’s must-read interview with Frank Rich and, as much as I enjoy the comedian’s work, I didn’t expect to be returning to it quite so soon. But although Rock’s comments on racism initially drew the most attention, a recent study from Gregory Clark, a researcher at University of California, Davis, has got me thinking that the comedian’s most insightful (and potentially radical) statement came earlier in the interview, during a brief digression about...
  • China overtakes US to be world's #1 economy: First time since President Grant was in office

    12/05/2014 8:24:01 AM PST · by SeekAndFind · 19 replies
    American Thinker ^ | 12/05/2014 | Rick Moran
    According to figures published by the International Monetary Fund, China has surpassed the US in economic output of real goods and services - a measure widely accepted as a gauge of total economic activity. It's an esoteric measurement, but important because it ignores exchange rates: These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP), which measures the actual output as opposed to fluctuations in exchange rates. So a Starbucks venti Frappucino served in Beijing counts the same as a venti Frappucino served in Minneapolis, regardless of what happens to be...
  • Obama to Atone for Legacy of Racial Discrimination with Reparations Decree?

    12/04/2014 4:45:28 PM PST · by 2ndDivisionVet · 13 replies
    Canada Free Press ^ | November 26, 2014 | John Lillpop
    To anyone who has been paying attention, it should be obvious by now that America is hardly a family-nation of diverse people united by common values. In fact, bitter divisions among the American people are the rule rather than the exception, with racial disharmony among the most divisive. In 2008, many liberal pundits hailed the election of Barack Obama as a positive sign that racial barriers between black and white Americas were finally starting to give way to a spirit of cooperation and healing. Unfortunately, those high hopes from six years ago have been dashed and replaced with even more...
  • A 3-Sentence Explanation Of What Crashing Oil Prices Mean For America [Who wins, who loses]

    12/04/2014 12:52:59 PM PST · by SeekAndFind · 14 replies
    Business Insider ^ | 12/04/2014 | Sam Ro
    The price of oil has crashed to multi-year lows.Falling energy prices are good for the US consumer. But they're bad for the big US energy producers.Remember, technological advances in hydraulic fracturing have sparked the US shale energy boom, which has been a source of economic growth thanks to capital expenditures and job creation in the industry. Low oil prices may put this story at risk.So on net, are falling prices good or bad?Charles Schwab's Liz Ann Sonders offers some simple math that puts it all into perspective. In three sentences:Consumer spending represents 68% of the US economy. Oil and gas...
  • It’s official: America is now No. 2 (China Biggest Economy)

    12/04/2014 8:49:50 AM PST · by C19fan · 29 replies
    MarketWatch ^ | December 4, 2014 | Brett Arends
    Hang on to your hats, America. And throw away that big, fat styrofoam finger while you’re about it. There’s no easy way to say this, so I’ll just say it: We’re no longer No. 1. Today, we’re No. 2. Yes, it’s official. The Chinese economy just overtook the United States economy to become the largest in the world. For the first time since Ulysses S. Grant was president, America is not the leading economic power on the planet. It just happened — and almost nobody noticed.
  • United States Government Debt to GDP 1940-2014 [dramatic increase under Obama]

    The United States recorded a Government Debt to GDP has risen dramatically and remains at peak levels since Obama took office. See chart in linked article. We have been running at roughly just over DOUBLE the GDP in debt.
  • Economy Doesn't Make Clinton a Favorite in 2016

    12/03/2014 5:41:36 PM PST · by 2ndDivisionVet · 11 replies
    RealClearPolitics ^ | December 3, 2014 | Sean Trende
    I’d intended to write about the Democratic and Republican primaries this week, but an article from the New Republic’s very smart Danny Vinik caught my eye. So, the primaries will have to wait. Referencing a piece by Ed Luce in the Financial Times, Vinik writes that Luce “overlooks a fundamental reason why [Hillary Clinton] is the early [2016] favorite: The economy is quickly improving under a Democratic president.” Vinik then cites political science research suggesting that the economy is the crucial factor in predicting elections. This is true. But there are other factors to consider as well; no model of...
  • Why Are Stocks Thriving Amid Global Gloom?

    12/03/2014 8:11:41 AM PST · by IBD editorial writer · 37 replies
    Investor's Business Daily ^ | 12/3/2014 | Terry Jones
    With all the economic gloom in the world, many have been perplexed: Why have stocks done so well, especially in the U.S.?
  • China Looks Bad, Europe Looks Worse

    12/03/2014 5:58:31 AM PST · by blam · 5 replies
    BI - Reuters ^ | 12-3-2014 | Jonathan Cable
    Jonathan Cable, Reuters December 3, 2014LONDON (Reuters) - The euro zone economy may face another contraction after business activity grew less than expected in November despite heavy discounting, surveys on Wednesday showed, although Asian readings were more upbeat. Firms across the euro zone cut prices again. That, and signs that the bloc's core economies are struggling, will concern the European Central Bank which has launched a raft of measures to revive growth and drive up dangerously low inflation. In contrast, a survey covering China's services industry showed slightly faster expansion. But after data on Monday said manufacturing growth was its...
  • Latin America Is Grinding To A Halt

    12/02/2014 9:06:50 PM PST · by blam · 28 replies
    BI ^ | 12-2-2014 | Paulina Abramovich
    Paulina Abramovich, AFP December 2, 2014Santiago (AFP) - Latin America's economies, hit by falling investment, will grow just 1.1 percent in 2014 -- their lowest level in five years, a UN commission on the region said Tuesday. The poor performance of several of Latin America's biggest economies dragged down growth across the region, found the United Nations Economic Commission for Latin America and the Caribbean (ECLAC). Argentina's economy will contract by 0.2 percent this year and Venezuela's by 3.0 percent, it said. Regional giant Brazil's will grow just 0.2 percent. The figures are the latest confirmation of the end of...
  • Five complete lies about America’s new $18 trillion debt level

    12/02/2014 2:16:56 PM PST · by SeekAndFind · 16 replies
    Sovereign Man ^ | 12/02/2014 | Simon Black
    December 2, 2014Santiago, ChileOn October 22, 1981, the government of the United States of America accumulated an astounding $1 TRILLION in debt.At that point, it had taken the country 74,984 days (more than 205 years) to accumulate its first trillion in debt.It would take less than five years to accumulate its second trillion.And as the US government just hit $18 trillion in debt on Friday afternoon, it has taken a measly 403 days to accumulate its most recent trillion.There’s so much misinformation and propaganda about this; let’s examine some of the biggest lies out there about the US debt:1)...
  • Russian Ruble Takes a Nosedive as Oil Price Drops

    12/02/2014 9:21:39 AM PST · by TigerLikesRooster · 10 replies
    ABC ^ | Dec 1, 2014 | NATALIYA VASILYEVA
    Russian Ruble Takes a Nosedive as Oil Price Drops MOSCOW — Dec 1, 2014, 6:29 AM ET By NATALIYA VASILYEVA Associated Press Russia's ruble hit a new all-time low on Monday, dropping about 5 percent as declining oil prices and the conflict in eastern Ukraine weigh on the country's economic prospects. The Russian currency traded at 52.75 rubles against the dollar in morning trading Monday after shedding 15 percent in the previous week. The ruble was also down 5 percent against the euro. Battered by low oil prices and the conflict in eastern Ukraine, the ruble has been declining throughout...