Keyword: economy

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  • Byron York: The overlooked substance in Donald Trump's speech

    06/24/2016 1:13:38 PM PDT · by MaxistheBest · 22 replies
    Washington Examiner ^ | 06/24/20116 | Byron York
    Most coverage of Donald Trump's speech in New York Wednesday has focused on his attacks on Hillary Clinton. Or the fact that he read the speech from a teleprompter. Or the fact that it came amid a period of disorder and change in his campaign. But Trump included actual substance in the speech — new policy proposals and promises — that escaped many observers. In a series of pledges to take action in his first 100 days as president, Trump said he would move on trade, business regulation, energy, and several other topics. One area in which Trump promised to...
  • The Amount Of Stuff Being Bought, Sold And Shipped Around The U.S. Hits The Lowest Level In 6 Years

    06/24/2016 2:39:40 PM PDT · by blam · 26 replies
    TEC ^ | 6-23-20165 | Michael Snyder
    Michael Snyder June 23rd, 2016 When less stuff is being bought, sold and shipped around the country with each passing month, how in the world can the U.S. economy be in “good shape”? Unlike official government statistics which are often based largely on projections, assumptions and numbers seemingly made up out of thin air, the Cass Freight index is based on real transactions conducted by real shipping companies. And what the Cass Freight Index is telling us about the state of the U.S. economy in 2016 lines up perfectly with all of the other statistics that are clearly indicating that...
  • Zombie states deteriorating faster and further

    06/24/2016 12:44:11 PM PDT · by Lorianne · 4 replies
    Truth in Accounting ^ | 20 June 2016 | Bill Bergman
    2014 article by author 'Zombie' Pensions: When Accounting Practices Hide the Truth from Taxpayers
  • NY Fed Warns about Booming Subprime Mortgages, now Insured by the Government

    06/22/2016 8:35:08 PM PDT · by Lorianne · 10 replies
    Wolf Street ^ | 21 June 2016 | Wolf Richter
    “Astronomical” default rates and losses. The New York Fed just warned about the ticking mortgage subprime time bombs once again being amassed, and what happens to them when home prices decline. But unlike during the last housing bust, a large portion of these time bombs are now guaranteed by the government. Subprime mortgages are what everyone still remembers about the Financial Crisis. They blew up has home prices fell. Folks who thought they were “owners with equity” found out that they were just “renters with debt.” And they dealt with it the best they could: forget the debt and the...
  • This Black Pastor Says His 'Attitude Changed' on Donald Trump After Meeting With 900 Evangelicals

    06/24/2016 10:42:51 AM PDT · by 2ndDivisionVet · 6 replies
    The Christian Post ^ | June 23, 2016 | Samuel Smith
    Conservative evangelical bishop E.W. Jackson says that his "attitude" about Donald Trump changed as a result of Tuesday's meeting between Trump and hundreds of America's top evangelical leaders in New York City. Jackson, who is the founder of the conservative nonprofit S.T.A.N.D., said in a conference call during the meeting that he can now back the presumptive Republican nominee instead of just preferring him over presumptive Democratic nominee Hillary Clinton. "What I am hoping we will see is the evangelical community unify around Donald Trump because we just don't have any choice," Jackson said. "I hope that there will be...
  • Uprising in the Rust Belt: They used to be Democrats. Now they could hand Trump the White House

    06/24/2016 9:18:51 AM PDT · by 2ndDivisionVet · 16 replies
    Politico Magazine ^ | June 24, 2016 | Keith O'Brien
    CAMBRIA COUNTY, Pa.—Donald Trump’s road to the White House begins here: on a four-lane highway, just east of Pittsburgh, past the roadside taverns, burned-out gas stations, and parking lots choked with weeds, up into the dark fingers of the Allegheny Mountains, and then down into the valley that was once home to steelworkers, coal miners and party-line Democrats. Regis Karlheim once counted himself among that third group. A farmer’s son, Karlheim grew up doing two things: voting Democratic and growing potatoes. “It was a lot of good years in potatoes,” he said. “Everybody and their brother grew potatoes in Cambria...
  • How Brexit Will Affect Americans [tr]

    06/24/2016 8:17:02 AM PDT · by Albion Wilde · 28 replies
    DailyMail ^ | 6/24/16 | Kiri Blakeley
    Full title: How Brexit Will Affect Americans: Cheaper travel to the UK and Europe, lower mortgage rates - but a very bumpy stock market ride • Americans can expect an extremely bumpy stock market ride • They can also look forward to cheaper travel to Europe and Britain • Experts are concerned that counterterrorism efforts in Europe will [wane] The first noticeable difference the vote made was to plunge the British pound to a 30-year low. Currently, it will only cost $1.34 to get one pound. And the U.S. dollar could continue to strengthen. That's good news for Americans looking...
  • How Election Will Really Affect Your Investments

    06/24/2016 6:49:22 AM PDT · by expat_panama · 12 replies
    Money ^ | June 22, 2016 | Taylor Tepper
    Emotions are running high in this campaign. And that—not any candidate’s policies—is the real threat to your portfolio. Here’s how to drown out the noise. Stocks will plunge if Donald Trump is elected President. And the bond market could capsize if Trump goes ahead with plans to renegotiate the national debt. Yeah, but if Hillary Clinton wins the White House, she’ll cripple the economy by hiking taxes by $1 trillion. And oh, by the way, her foreign policy will end up destroying the world. As these are actual statements made by famous investors—like billionaire Mark Cuban and Swiss investment adviser...
  • Maybe Janet Yellen Hasn't Changed, But We Have

    06/24/2016 4:04:42 AM PDT · by expat_panama · 11 replies
    Real Clear Markets ^ | June 24, 2016 | Jeffrey Snider
    Janet Yellen has been doing a lot of talking lately, with more and more attention paid to the words she says and the contexts in which she delivers them. Maybe, then, it just seems as if the Fed Chair is speaking more, since it may be just as likely that she isn't doing anything different and that it is us who have changed. The fact that the FOMC has failed to follow through but for that one time in December is very likely the cause. Two years ago, Yellen spoke a lot of words but they were familiar, unnoticeable noise...
  • California's skyrocketing housing costs, taxes prompt exodus of residents

    06/23/2016 3:53:15 PM PDT · by Clintonfatigued · 58 replies
    The San Jose Mercury News ^ | June 20, 2016 | George Avalos
    During the 12 months ending June 30, the number of people leaving California for another state exceeded by 61,100 the number who moved here from elsewhere in the U.S., according to state Finance Department statistics. The so-called "net outward migration" was the largest since 2011, when 63,300 more people fled California than entered. "The main factors are housing costs in many parts of the state, including coastal regions of California such as the Bay Area," said Dan Hamilton, director of economics with the Economic Forecasting Center at California Lutheran University in Thousand Oaks. "California has seen negative outward migration to...
  • Some Business Leaders Abandon GOP (barf alert)

    06/23/2016 1:22:42 PM PDT · by KeyLargo · 29 replies
    The Wall Street Journal ^ | June 23, 2016 | Laura Meckler
    Politics Election 2016 Several GOP Business Leaders Are Backing Clinton Democratic presidential candidate to get backing from executives, some of whom cite unease with Trump’s candidacy By Laura Meckler June 23, 2016 12:09 a.m. ET More than 50 business executives, including several longtime Republicans, endorsed Hillary Clinton for president on Thursday as her campaign seeks to capitalize on discomfort with Republican Donald Trump. They include Jim Cicconi, senior executive vice president at AT&T Services Inc., and Dan Akerson, who held top positions at General Motors Co. and Nextel Communications Inc. A Clinton campaign aide provided the list. The endorsements reflect...
  • Why You Should Discount Obama's Retail Hiring Boom [DOUBLE THE JOBS BECAUSE EVERYONE'S PART TIME!]

    06/23/2016 6:30:51 AM PDT · by expat_panama · 4 replies
    Investors Business Daily ^ | 6/20/2016 | JED GRAHAM
    Economists have been puzzled all year over how retail employment has surged despite the fact that Wal-Mart (WMT), Macy's (M), Kohl's (KSS) and other major players were closing stores and laying off thousands of workers. The retail hiring boom has been happening even as customers have accelerated their shift to nonstore retailers like Amazon (AMZN). Meanwhile, Home Depot... ...stopped opening new stores... ...the bottom of this mystery is... ...Shorter workweeks and more part-time workers... ...wage gains have accelerated to more than 6% from a year ago, even as the average workweek has shrunk -- to a record-short 27.8 hours for...
  • Hillary Clinton’s Message: Yes, the Economy Is Messed Up. But I Can Fix It.

    06/23/2016 4:08:50 AM PDT · by expat_panama · 41 replies
    New York Times ^ | JUNE 22, 2016 | Neil Irwin
    It has been a year dominated by populist rage, embodied in Bernie Sanders’s calls for a political revolution and Donald J. Trump’s angry assertions that the United States, and its workers, are losing badly in the global economy... ...Clinton gave this message: I alone am the candidate who knows how to turn those underlying frustrations... ...voters’ anger, but respond to that anger by pulling the levers of the federal bureaucracy and creating legislation... ...not easy to change Washington, or how corporations behave,”... ...blasting Mr. Trump’s business record, ethics and often-erratic policy positions. “It takes more than stern words or a...
  • Trump just blasted the message that can win the White House

    06/22/2016 5:47:12 PM PDT · by 2ndDivisionVet · 63 replies
    The New York Post ^ | June 22, 2016 | The Editorial Board
    Donald Trump marked the real start of his general-election campaign Wednesday with a full-bore attack on Hillary Clinton and a clear appeal to Americans across the spectrum. He slammed her, accurately, as a “world-class liar” who’s part of the “rigged system” that boosts “insiders” like her at the expense of the common good. And he vowed to end the inside game while reaching out even to Bernie Sanders supporters. He talked issues Americans of all political persuasions really care about, starting with, as he put it, “jobs, jobs, jobs.” Trump laid out how the “special-interest monopoly” has ruled Washington at...
  • USA Needs More Entrepreneurs, Not More Bureaucrats

    06/22/2016 11:34:04 AM PDT · by Kaslin · 10 replies ^ | June 22, 2016 | Star Parker
    Uber, the ride-hailing company, founded in 2009, began operations in San Francisco in 2011, and now has a presence in 449 cities worldwide. From its beginning with just a vision, the firm's market value, by recent estimates, now exceeds $60 billion dollars. Uber is just one of many new emerging businesses that are the result of applying new technology to the routine affairs of living. In this case, rather than needing to hail a cab or order one from a central office, you just connect with drivers through an app on your smartphone. When existing businesses find themselves threatened by...
  • The Moody’s Economic Report That Clinton Is Using to Attack Trump

    06/22/2016 5:39:22 AM PDT · by expat_panama · 23 replies
    New York Times ^ | JUNE 21, 2016 | NIRAJ CHOKSHI
    Hillary Clinton’s speech attacking Donald Trump’s economic proposals on Tuesday mentioned a new analysis that says his ideas — if enacted in full — would bring about a “lengthy recession” by the end of his first term. That report, released on Monday by Moody’s Analytics... “If Mr. Trump gets precisely what he’s proposed, then the U.S. economy will suffer meaningfully,” said...   ... Moody’s Analytics. “It will result in a lot of lost jobs, higher unemployment, higher interest rates, lower stock prices.”...  ... Zandi, the report’s lead author, is a registered Democrat who has donated to Mrs. Clinton. But he has...
  • Yellen Offers Subtle Change To Inflation, Job Market Outlook [ECON NOT SO HOT AFTER ALL...]

    06/22/2016 3:44:59 AM PDT · by expat_panama · 15 replies
    Investors Business Daily ^ | June 22, 2016 | BLOOMBERG NEWS
    By offering a subtle change to her outlook from less than a week ago, Federal Reserve Chair Janet Yellen pushed the prospect of additional interest rate increases further into the future. The head of the central bank said she and her colleagues were on watch for whether, rather than when, the U.S. economy would show clear signs of improvement, acknowledging the possibility that growth would be slow to pick up. "Proceeding cautiously in raising the federal funds rate will allow us to keep the monetary support to economic growth in place while we assess whether growth is returning to a...
  • Voters trust Trump over Clinton on economy

    06/21/2016 6:31:01 PM PDT · by 2ndDivisionVet · 14 replies
    When it comes to the economy, Donald Trump is the preferred choice of American voters. Voters overwhelmingly think Democrat Hillary Clinton will be the next president (whether they want that or not), but when they are asked specifically who would be the better candidate to “handle the economy,” 51% say Trump and only 43% say Clinton, according to the latest CNN/ORC poll released Tuesday morning. Clinton is fighting back to change that impression. In a fiery speech Tuesday, she lashed out at Trump, calling him “reckless” and “dangerous” for the economy. His policies would cause 3.5 million Americans to lose...
  • Believe it or Not: More Kids Live At Home Now than Since The Great Depression

    06/21/2016 4:48:13 PM PDT · by blam · 67 replies
    TMO ^ | 6-21-2016 | Harry Dent
    Jun 21, 2016 Harry_Dent We all know the situation in the markets is dire. Like, really, everyone knows. There’s an old phrase from Margaret Thatcher’s day (and mine, I suppose) that has recently come back into use: There is no alternative. There’s even an acronym: TINA. There is no alternative example of a campaign advertising material of the CDU for the 1994 election for the Landtag of Thuringia. That’s quaint, and all, but this meatily numbered piece shows the heart of what that phrase means. There is no alternative, the markets will correct. They have to, regardless of how hard...
  • Opinion: Obama tells a big whopper about his economic record

    06/21/2016 5:41:43 AM PDT · by expat_panama · 10 replies
    Market Watch ^ | June 20, 2016 | Michael J. Boskin
    ...Churchill once boasted that, “History will be kind to me, for I intend to write it.” ... ...Today, it is President Barack Obama’s turn to attempt to define his legacy, as his presidency winds down and attention turns to the election of his successor. And he has already been busy. During Obama’s recent visit to Japan for the G-7 summit, for example, he became the first sitting U.S. president to visit Hiroshima, devastated in 1945 by the nuclear attack ordered by President Harry S. Truman to avoid a ground invasion and hasten the end of World War II.Obama has also been...
  • 3 Economic Facts That Counter Obama’s Recovery Narrative

    06/20/2016 10:30:14 AM PDT · by milton23 · 4 replies
    Daily Signal ^ | 6/20/2016 | Stephen Moore
    President Barack Obama needs a reality check. Earlier this month in Indiana, he accused his critics of ignoring the “facts” and purporting “myths” about his economic record. But if Republicans are truly ignoring the facts, Obama should consider it a blessing. A quick look at the facts will show that Obama’s economic performance has been weak—even by his own standards.
  • Obamanomics: R.I.P. Sluggish growth is the long-term new normal for America

    06/20/2016 4:32:39 AM PDT · by expat_panama · 20 replies
    The Washington Times ^ | June 19, 2016 | Stephen Moore
    Well, it turns out Annie had it wrong. The sun won’t come out tomorrow. That was basically the message from Federal Reserve chair Janet Yellen last week when she acknowledged the economy is doing more poorly (again) than previously hoped. The Fed admitted that sluggish growth that caps out at 2 percent is with us for as far as the eye can see, or at least through the next two years. Is this a declaration of the last rites for Obamanomics? It should be. Throw it in the dustbin of history alongside all the other failed liberal economic experiments. The...
  • Investors fearing ‘summer shocks’ are hoarding the most cash since 2001

    06/20/2016 3:48:27 AM PDT · by expat_panama · 8 replies
    Market Watch ^ | June 18, 2016 | Sue Chang
    The last time fund managers hoarded this much cash, the Arizona Diamondbacks defeated the New York Yankees 4 to 3 to win the World Series. Today the Diamondbacks and the Yankees are struggling in their respective divisions, and by the amount of cash investors are stocking away, one might think that they fear the global markets are melting down too. Cash positions rose to 5.7% in June from 5.5% in May, the highest level since November 2001... Worries about “‘summer of shocks” stemming from Brexit...   ...prompting managers to stock pile cash... What do you consider the biggest ‘tail risk’? Bank...
  • Donald Trump: Would He Be Good for Construction Industry?

    06/19/2016 10:46:26 PM PDT · by 2ndDivisionVet · 4 replies
    Construction Equipment Guide ^ | June 20, 2016 | Giles Lambertson
    Let's play Jeopardy. The answer is… “A five-letter word for someone who might be good for the construction industry.” The question: “Who is Trump?” Let me hedge a little—something that Alex Trebek doesn't allow on the TV program, by the way—by noting that the key word in the equation is “might.” A President Donald Trump “might” be good for the construction industry. That is a generous caveat, but we're talking here about politics, after all. Trump certainly knows his way around a construction site after all these years of erecting buildings with his name prominently displayed atop them. He knows...
  • Fewer low-income men are working

    06/19/2016 5:46:40 PM PDT · by 2ndDivisionVet · 45 replies
    CNN Money ^ | June 15, 2016 | Tami Luhby
    Men have been disappearing from the workforce for decades. But a closer look at the data reveals that lower-income men account for much of the change -- and that reflects a big problem with the economy. Only 69% of these men, ages 25 to 54, are employed, according to new research from the Brookings Institution. That figure was 80% in 1980. Among middle class and upper-income men, 92% are working, down only slightly from 94% in 1980....
  • There's No Other Way to Say It: Minimum Wage Laws Are Racist

    06/18/2016 12:18:17 PM PDT · by Kaslin · 18 replies
    PJ Media ^ | June 18, 2016 | John Ellis
    Following the lead of a several trodden upon, yet Democrat-controlled municipalities, Washington D.C. recently approved a bill raising the minimum wage to fifteen dollars an hour by 2025. This move has been hailed by leftists as a triumph for equality and the little guys. Except minimum wage laws were first proposed by racists to keep minorities down, and current minimum wage laws further disenfranchise those in our society who are already disenfranchised.To help understand, a brief history lesson is in order. At the risk of wandering off topic, this brief history lesson will also serve to demonstrate why many leftists...
  • The World Economy Is Stagnating Like It’s 1937

    06/18/2016 12:00:56 PM PDT · by nickcarraway · 27 replies
    New York Magazine ^ | June 17, 2016 | Eric Levitz
    A financial crisis sends the global economy into recession. The U.S. government responds with a fiscal and monetary stimulus. Growth recovers, and unemployment drops, but the debts and psychological scars of the downturn linger. Consumers repair their balance sheets instead of taking trips to the mall. Investors hoard their capital among fears of low demand. Everyone wants government bonds, pushing benchmark interests rates toward the zero-bound. Inflation remains tepid. Still, policymakers see enough signs of recovery to cut public spending and tighten monetary policy. Is this a description of the economic landscape of 1937 or 2016? Economists at Morgan Stanley...
  • Their Unrealistic Expectations Crushed At Last, Wealthy Millennials Now Shop At Dollar Stores

    06/17/2016 9:40:31 PM PDT · by 2ndDivisionVet · 80 replies
    The Daily Caller ^ | June 17, 2016 | Eric Owens, education editor
    In the wake of the long series of lean economic years since the onset of the Great Recession, America’s affluent millennials have taken to shopping for groceries, toiletries and even clothing at ultra-discount stores such as Dollar General and Family Dollar. It’s not just Pabst Blue Ribbon-drinking hipsters trying way too hard to be different, either. At Dollar General, members of the millennial generation — of all income brackets — accounted for nearly 25 percent of the company’s first quarter revenue in 2016, reports Reuters. Millennials, if you are not up on your demographic jargon, are the cohort of young...
  • US current account trade deficit at highest level in 7 years (... why Trump is doing so well)

    06/17/2016 5:05:18 AM PDT · by cba123 · 2 replies
    Associated Press ^ | Jun. 16, 2016 8:47 AM EDT | By MARTIN CRUTSINGER
    WASHINGTON (AP) — The deficit in the nation's broadest measure of trade increased in the January-March quarter to the highest level in more than seven years. The current account trade deficit jumped 9.9 percent in the first quarter to $124.7 billion, the Commerce Department reported Thursday. It was the biggest gap since a deficit of $152.5 billion in the fourth quarter of 2008, the height of the financial crisis.
  • The Minimum Wage Pain Continues: Hundreds More To Be Fired At Walmart

    06/17/2016 6:37:38 AM PDT · by Lorianne · 14 replies
    Zero Hedge ^ | 16 June 2016 | Tyler Durden
    Walmart reported relatively decent Q1 results, however one item that was apparent is that costs are still a factor in the business, as operating income was lower y/y even on increased revenues. We've discussed many times the fact that Walmart has been overly eager to boost everyone's wage in order to appease the living wage crowd, and as a result the company has had to move forward with massive layoffs and store closings to try and mitigate the impact on profits. Earlier this month we also noted that Walmart is testing out drones that when operational, will be able to...
  • How Uncle Sam Became Uncle Tyrant -- If Washington Wants To 'Get' You, It Now Can

    06/17/2016 7:00:21 AM PDT · by expat_panama · 32 replies
    Forbes ^ | Jun 1, 2016 | Steve Forbes
    OUR FOUNDING FATHERS understood that tyranny wasn’t likely to come from a foreign invasion but from the step-by-step erosion of our freedoms by an expanding government. This is what we are facing today.... ...ominous trends threaten us... ...the typical professional in this country unknowingly commits several federal crimes during a typical workday. If Uncle Sam wants to get you, he can. – An 11-year-old girl in Virginia, who saved a woodpecker from a cat, was hit with a fine for “transporting” a protected species. – A fisherman who threw back some undersize fish he had caught was hauled into court...
  • Memo To Fed: Keep Your Foot Off The Brake

    06/17/2016 6:40:34 AM PDT · by expat_panama · 2 replies
    Investors Business Daily ^ | 6/15/2016 | Editorial
    Economy: Federal Reserve policymakers are now unanimous: Forget about a hike in interest rates for now. Our only question is, what took them so long? Just a month ago we were told repeatedly that a Fed rate hike was "baked in the cake." After all, jobs seemed to be growing smartly, consumers were perking up, and Fed data showed net wealth at near-record levels. Then reality intervened in the form of a 38,000-job gain for May — a shockingly big shortfall, considering the consensus for 160,000 net new jobs. Then, despite President Obama's jawboning, British voters look increasingly likely to...
  • Overthrow the Establishment to Fix the Economy

    06/17/2016 6:22:07 AM PDT · by Kaslin · 3 replies ^ | June 17, 2016 | Larry Kudlow
    Famed investor Wilbur Ross recently told CNBC that “Trump represents a more radical new approach to government that the nation’s economy desperately needs.” He’s right. Trump seeks an overthrow of the establishment. He’s a disrupter. Just what we need to fix the economy. The situation is that desperate. The last 15 years of economic policy, especially the last eight years, represent a relapse that harks back to the 1970s. Now like then, we have a high-tax, high-spend, high-regulation, Fed-pump-priming, standard-less dollar-manipulation policy mix. In general, it’s a government-planning approach in the U.S. and around the world. We’ve not experienced high...
  • Opinion: Have businesses really run out of people to hire?

    06/17/2016 4:08:44 AM PDT · by expat_panama · 111 replies
    Market Watch ^ | June 17, 2016 | Caroline Baum
    Throughout the seven-year old U.S. expansion, as the unemployment rate tumbled from a peak of 10% in 2009 to a low of 4.7% last month, policy makers have been focused on the slack in the labor market. Yes, slack.... ...surprise to read this week that the problem facing companies is a shortage of workers, both highly skilled and entry-level. Why not offer them a higher wage?... ...the Roaring ‘90s? That’s what a tight labor market looks like: signing bonuses; offers of free cars, even for mid-level managers; and a sufficiently attractive wage to entice some criminals... ...plenty of business owners...
  • Obama’s Building A Wall Around Corporate America

    06/16/2016 3:57:53 AM PDT · by expat_panama · 14 replies
    Investors Business Daily ^ | June 15, 2016 | REP. JIM RENACCI
    During his first inaugural address, President Obama pledged to bridge the divide between Washington and Main Street America by making government accountable to the people. Nearly eight years later, that chasm has only grown greater, exacerbated by the steady consolidation of executive power and unbridled growth of the federal regulatory machine. Today it’s hard to think of any aspect of daily life not micromanaged by federal bureaucrats. From burdensome new regulations on irrigation waters for farmers to seemingly endless new red tape in our health care and community banking industries, Uncle Sam has a hand in nearly every pot. In...
  • Spain's public debt surpasses 100% in 20-year high

    06/15/2016 10:34:36 AM PDT · by familyop · 7 replies
    AFP, Yahoo News ^ | June 15, 2016 | AFP
    Madrid (AFP) - Spain's public debt rose above 100 percent in the first quarter to its highest level in 20 years, the central bank said Wednesday as Madrid faces an EU sanctions threat for public overspending. Debt as a proportion of economic output hit 100.5 percent in the first quarter up from 99.2 percent at the end of 2015, the bank said in a statement.
  • Bursting the false narrative -- Economic growth suffers from overspending, not undertaxation

    06/15/2016 6:06:54 AM PDT · by expat_panama · 5 replies
    The Washington Times ^ | Monday, June 13, 2016 | Richard W. Rahn
    At the end of this past week, The Washington Post ran a long story on the Center for Freedom and Prosperity (CFP), an organization that I have long supported. It appeared that the original goal was to do a hit piece on CFP because it had been a leader in the fight for global tax competition and smaller government. The irony was that the authors of the story quoted a number of people from around the world... ...who support bigger government and higher taxes, to the effect that those at the CFP had been highly successful in blocking a number...
  • A Challenge to Much That You Believe About the Fed

    06/15/2016 5:38:56 AM PDT · by expat_panama · 15 replies
    Real Clear Markets ^ | June 15, 2016 | Harry Binswanger
    John Tamny, of Forbes and RealClearMarkets, has penned a highly original and stimulating look at the economics of money and banking: Who Needs the Fed? I sang the praises of his remarkable Popular Economics when that came out, and now this just-published book has me singing them again, in a new key. Let me note up front that there are substantial parts of this book with which I, so far at least, disagree. I have exchanged some emails with Mr. Tamny on these issues and nothing has been resolved. This is a not A Bad Thing: it can be actually...
  • Spain’s once mighty socialists succumb to populist rage

    06/14/2016 11:35:34 PM PDT · by Fhios · 14 replies
    FT ^ | 6/14/2016 | Tobias Buck
    ... "The fact is that in Spain and elsewhere in Europe, voters have come to associate the centre-left with many of the (unpopular) policies traditionally championed by the right: austerity, deregulation, liberalisation, free trade." ...
  • The Rise of Manufacturing Marks the Fall of Globalization

    06/14/2016 11:34:30 PM PDT · by nakutny · 15 replies
    Stratfor ^ | June 7, 2016 | Rebecca Keller
    Opportunities for producing and assembling products and their components have spread worldwide, making it is easier for countries to climb the production value ladder. States at the bottom, extracting raw materials, can gradually move up, first making low-value components and then progressing to higher-value ones or basic assembly. But just as technology spurred globalization and the shifts in international trade that followed, so, too, will it revolutionize how countries again do business with one another. Compounded by the economic and demographic changes taking place today, automation, advanced robotics and software-driven technologies are ushering in a new era — one of...
  • Obama by the numbers

    06/14/2016 10:51:04 AM PDT · by Sean_Anthony
    Canada Free Press ^ | 06/14/16 | Herman Cain
    The real numbers, that is “By almost every economic measure — every economic measure, America is better off when I — better off than when I came here. That is the truth. That’s true.” - President Obama June 1, 2016 That’s not the first time President Obama has made that statement, which is not true. But he and his liberal minions keep saying it so people will start believing it. They have done that throughout his presidency, and the liberal gullible media lets him get away with it. But we will not!
  • How negative interest rates are undermining the economy

    06/13/2016 1:33:50 PM PDT · by Lorianne · 9 replies
    Money Week ^ | 10 June 2016 | John Stepek
    was talking about the bond bubble earlier this week. Seems I’m not the only one who’s a bit worried. Bill Gross, founder of Pimco (now at Janus Capital), tweeted “Global yields lowest in 500 years of recorded history… This is a supernova that will explode one day.” Aside from making the pedantic point that a supernova is itself an explosion (according to my limited knowledge of astronomy at least), I find little to disagree with here. The big question is – when will the bubble burst? We discussed that on Monday. But in the meantime, it’s worth asking – what...
  • Average Man With Full-Time Job in U.S. Earned Less in 2014 than 1973

    06/13/2016 11:33:29 AM PDT · by george76 · 46 replies
    Breitbart News Network ^ | 13 Jun 2016 | Caroline May
    The average man with a full-time job in 2014 earned less than the average man in 1973 ... shedding additional light on the perceived economic stagnation and frustration among middle-income Americans in recent years. ... the median earnings of a man working full-time in 1973 was $53,294 — measured in 2014 dollars — while the median income for a man working full-time in 2014 was $50,383. “This one fact, tucked in Table A-4 of the Census Bureau’s annual report on income, is both a symptom of an economy that isn’t delivering for many ordinary Americans and at least one reason...
  • The Great CEO-Worker ‘Pay Gap’ Is Nothing But A Union-Built Myth

    06/14/2016 5:35:35 AM PDT · by expat_panama · 66 replies
    Investors Business Daily ^ | 6/10/2016 | MARK J. PERRY
    In an annual ritual that takes place every May, the AFL-CIO releases its “Executive Paywatch” report to publicize what it considers to be the excessive compensation of the CEOs of America’s biggest multinational firms. The nation’s largest labor federation reports this year that the typical CEO running an S & P 500 firm received total compensation of $12.4 million in 2015 while the average rank-and-file worker was paid just $36,875 — a pay gap of 335-to-1. But the AFL-CIO can only get such an inflated pay ratio by applying a series of statistical sleights... ...the AFL-CIO only considers a very...
  • Trump vs Clinton: Political Uncertainty Could Be Taking Its Toll (THE ECON'S ALREADY TRUMP'S FAULT)

    06/13/2016 6:04:10 AM PDT · by expat_panama · 6 replies
    Fortune ^ | June 12, 2016 | Daniel Gross
    Businesspeople often say political uncertainty put a brake on expansion. This year it may be true. In election years, it’s common to hear businesspeople talk about political uncertainty acting as a brake on expansion and a stiff headwind. I’m generally a little suspicious of such claims. Entrepreneurs decide whether to open another restaurant, or a furniture store, or a hedge fund, based on whether they see demand or market opportunity – not on who they think might control Congress next year, or whether a presidential candidate might propose raising the tax rate on capital gains. But this year might actually...
  • On The Subject Of Inflation, Janet Yellen Always Brings The Comedy

    06/13/2016 5:43:46 AM PDT · by expat_panama · 11 replies
    Forbes ^ | Jun 12, 2016 | John Tamny
    “Don’t be afraid to say to anything because no matter what you say, no matter how idiotic it is, it has already been said by some eminent economist.” – Ludwig von Mises... ...the first laser printer (Xerox Star 8010) set consumers back $17,000 in 1981... ...the norm in a free economy... ...the very rich serve as “venture buyers” since only they have the means to purchase what is both expensive and unproven... items down to prices that we can all afford. The first ball-point pen cost over $12, the first mobile phone nearly $4,000, while the first... ...logical and...
  • Book Review: Who Needs The Fed? by John Tamny

    06/12/2016 12:25:49 PM PDT · by BUSHdude2000 · 9 replies
    Big Jolly Politics ^ | 5/31/2016 | Steve Parkhurst
    Review by Steve Parkhurst: Who Needs The Fed?: What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America’s Central Bank, is not a dense economics book like the macro or micro economics of our youth. This book is written much more clearly than those old textbooks, and is actually interesting. The many rather short chapters make their case and then move along to the next. Tamny’s utter disdain for the Fed is both evident, and humorous along the way. But his book is not an angry diatribe, instead it is a fact-filled, example-laden...
  • Laid-Off Americans, Required to Zip Lips on Way Out, Grow Bolder

    06/11/2016 1:16:30 PM PDT · by Hojczyk · 79 replies
    New York Times ^ | June 11,2016 | Julia Preston
    LIBERTYVILLE, Ill. — American corporations are under new scrutiny from federal lawmakers after well-publicized episodes in which the companies laid off American workers and gave the jobs to foreigners on temporary visas. But while corporate executives have been outspoken in defending their labor practices before Congress and the public, the American workers who lost jobs to global outsourcing companies have been largely silent. Until recently. Now some of the workers who were displaced are starting to speak out, despite severance agreements prohibiting them from criticizing their former employers. Mr. Peña said he had been told at first that he would...
  • Don’t Believe the Globaloney

    06/10/2016 4:54:00 AM PDT · by expat_panama · 12 replies
    Strategy+business ^ | June 7, 2016 | Daniel Gross
    Generalizing from the particular is one of the biggest — and most common — mistakes analysts make. There’s a natural tendency for people to extrapolate from their own personal experience and conclude that the results are the norm. But that’s a poor analytical frame. If the main stock you chose for your portfolio is off 30 percent, it doesn’t mean the entire stock market is down 30 percent. If home prices on your street are booming, it doesn’t mean that prices in your town, or the country at large, are soaring ahead.We can see this dynamic playing out in some...
  • Why are Trump voters so angry about immigration?

    06/10/2016 4:23:47 PM PDT · by 2ndDivisionVet · 99 replies
    The Christian Science Monitor ^ | June 10, 2016 | Peter Grier
    Building a wall is one of Donald Trump's big applause lines. But why? Some research surveys suggest that many Trump followers aren’t so much anti-Hispanic as they are worried about the perceived effect of immigration on their culture and pocketbooks. Donald Trump’s supporters have negative views about immigrants, particularly those who entered the United States illegally. That’s not a news flash. Mr. Trump’s vow to build a wall along the southern border – financed by Mexico – remains one of his biggest rally applause lines. But what, specifically, is behind this anger? Is there anything about undocumented immigration that even...