Keyword: economy

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  • HEDGE FUND LEGEND JULIAN ROBERTSON: Everything is in a bubble and it will end in 'chaos'

    09/29/2016 4:06:55 AM PDT · by expat_panama · 25 replies
    Business Insider ^ | September 28, 2016 | Bob Bryan
    Julian Robertson, the legendary hedge fund manager behind Tiger Management, thinks central banks are fueling bubbles throughout financial markets. "We don't have negative rates here in the States yet, but I think it's tragic that we've taken rates down this far," Robertson said this week at Bloomberg's Surveillance Primetime event. "I know the Federal Reserves all over the world are trying to ensure prosperity, but in doing so I think they are ensuring a huge bubble, which will be pricked, and we will all be hurt by it." Negative and near-zero interest rates from central banks have allowed increased borrowing......
  • More Wealth, More Jobs, but Not for Everyone: What Fuels the Backlash on Trade

    09/28/2016 8:42:37 PM PDT · by Theoria · 20 replies
    The New York Times ^ | 29 September 2016 | Peter S. Goodman
    Trade is under attack in much of the world, because economists failed to anticipate the accompanying joblessness, and governments failed to help. For as long as ships have ventured across water, laborers like Patrick Duijzers have tied their fortunes to trade. He is a longshoreman here at Europe’s largest port, and his black Jack Daniel’s T-shirt, hoop earrings and copious rings give Mr. Duijzers the look of a bohemian pirate. His wages put him solidly in the Dutch middle class: He has earned enough to buy an apartment and enjoy vacations to Spain. Lately, though, Mr. Duijzers has come to...
  • Detroit Metro’s Economy No. 14 In U.S., Bigger Than Nation Of Chile

    09/28/2016 12:50:25 PM PDT · by MichCapCon · 16 replies
    Michigan Capitol Confidential ^ | 9/24/2016 | Tom Gantert
    The Detroit metro area has an economy that is roughly the same size as the nation of Chile, according a blog post by a free enterprise think tank. Figures collected by the federal Bureau of Economic Analysis show the Detroit-Warren-Dearborn metro area having the 14th-largest economy among the nation’s metropolitan regions, with a $246 billion gross domestic product (GDP) in 2015. To place this in perspective, the Carpe Diem blog from the Washington, D.C.-based American Enterprise Institute found that the Detroit area's economy is roughly the same size as Chile's economy, which had a GDP of $240 billion in 2015....
  • Millennials and the Obama Legacy

    09/28/2016 11:15:10 AM PDT · by Kaslin · 6 replies
    American Thinker ^ | September 28, 2016 | Jon N. Hall
    In his 2008 campaign for president, candidate Obama said that the debt run up by President Bush was “irresponsible” and “unpatriotic” and that Bush ran up the debt all “by his lonesome” (short video). Despite presiding over far more debt in his first term than Bush did in two, President Obama was re-elected by young folks. It would seem that debt doesn’t really register with millennials. Although millennials may not be interested in debt, debt is interested in them. On Oct. 1, 2016 the federal government will begin its next fiscal year, FY 2017. Fiscal 2017 will mark ten years...
  • The Dying Middle Class (Largest Theft in History)

    09/27/2016 6:30:47 PM PDT · by Be Careful · 126 replies
    ZeroHedge ^ | 9/27/16 | Tyler Durden
    Largest Theft in History As expected, Ms. Yellen smiled last week, announcing no change to the Fed’s extraordinary policies. For the last eight years, she has been aiding and abetting the largest theft in history.
  • Don't Blame "Baby Boomers" For Not Retiring - They Can't Afford To!

    09/27/2016 6:25:46 PM PDT · by Be Careful · 46 replies
    ZeroHedge ^ | 9/27/16 | Tyler Durden
    In business, the 80/20 rule states that 80% of your business will come from 20% of your customers. In an economy where more than 2/3rds of the growth rate is driven by consumption, an even bigger imbalance of the “have” and “have not’s” presents a major headwind.
  • Why Yellen may quit if Trump wins

    09/28/2016 3:08:02 AM PDT · by expat_panama · 103 replies
    Market Watch ^ | Sept 27, 2016 12:33 p.m. ET | Steve Goldstein
    Even with two years remaining in her term, Federal Reserve Chairwoman Janet Yellen may quit if Donald Trump is elected president, an economist argued on Tuesday. Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients that Trump doubled down on criticism of the Fed during his debate with Hillary Clinton. Trump said the U.S. economy is in a “big, fat, ugly bubble” and specifically called out Yellen. “And we have a Fed that’s doing political things. This Janet Yellen of the Fed,” he said. “The day Obama goes off, and he leaves, and goes out...
  • Utahns Fear Obama Will Heed Environmentalists, Not Them, on National Monument Designation

    09/27/2016 8:29:00 PM PDT · by Tolerance Sucks Rocks · 18 replies
    The Daily Signal ^ | September 26, 2016 | Senator Mike Lee
    This past Monday marked the 20th anniversary of President Bill Clinton using the Antiquities Act to create the 1.5 million-acre Grand Staircase-Escalante National Monument in southern Utah. For most Utahns, this date is not a cause for celebration. It’s a source of anger toward what many see as an out-of-touch and overbearing federal government Infamously, the Clinton administration failed to notify the people of Utah prior to announcing the monument designation—probably because the administration knew that nearly everyone in the state was opposed to the idea. Utah’s congressional delegation, state and county leaders, and local residents all warned that a...
  • Debate Drags Markets Down

    09/27/2016 3:26:22 AM PDT · by expat_panama · 16 replies
    Barchart ^ | September 27, 2016 | Nick Mastrandrea
    Good Morning Traders, As of this writing 4:30 AM EST, here’s what we see:US Dollar: Dec. USD is Up at 95.225.Energies: November Crude is Down at 45.57.Financials: The Dec 30 year bond is Up 2 ticks and trading at 168.10.Indices: The December S&P 500 emini ES contract is 33 ticks higher and trading at 2148.00.Gold: The October gold contract is trading Down at 1336.30. Gold is 35 ticks lower than its close.Initial Conclusion This is not a correlated market.... ...Could this change? Of Course. Remember anything can happen in a volatile market. Commentary Yesterday the markets made it very clear that...
  • Many working-class whites break from Democrats to choose Trump

    09/26/2016 11:46:24 PM PDT · by 2ndDivisionVet · 8 replies
    NM Politics ^ | September 26, 2016 | By Emily Mills, Jimmy Miller, Taylor Gilmore and Lian Bunny
    Trump signs in her backyard. Trump magnets on her refrigerator. Trump buttons on her dining room table. Kathy Miller is the Mahoning County chairwoman for Donald Trump. While handing out Trump signs in June at a Republican headquarters just south of Youngstown, Ohio, she was approached by a woman in her late 80s, who said, “I have never voted Republican in my life. Give me the biggest sign you’ve got.” In economically struggling communities like Mahoning County — where most steel mills have closed — many white, working-class Democrats are voting for Trump, registration records and 2016 presidential primary results...
  • Everyone thinks they are middle class: The false perceptions many Americans hold.

    09/26/2016 3:53:11 PM PDT · by Lorianne · 57 replies
    My Budget 360 ^ | presumably sometime in September 2016 | no byline
    In 1971 70% of Americans were middle class. A clear majority. Today the middle class is now a minority. It is interesting that within one generation we have pushed the middle class into minority status yet most people still think they are middle class when the data clearly states otherwise. This misperception is probably at the root of a lot of the political anger this year. If everyone is middle class and you are struggling, surely it is the system to blame. Forget about the cronyism on Wall Street and the deep capture of big money in D.C. – the...
  • 'Bernie' Clinton's Massive Tax Hike Is Based On Greed And Envy

    09/26/2016 3:55:08 AM PDT · by expat_panama · 3 replies
    Investors Business Daily ^ | 9/23/2016 | Steve Moore
    Greed A selfish and excessive desire for more of something (as money) than is needed. ‎ A continual lust for more. Envy A feeling of resentful longing aroused by someone else's possessions or qualities or wealth. Someone might want to tell Hillary Clinton that greed and envy are two of the seven deadly sins. She's guilty of both. Her revised tax plan‎ would raise the estate tax to as high as 65% -- up from 40% today. She would also apply the hated death tax to as many as twice the number of estates. It's one of her dumbest ideas...
  • Duck And Run—-The Robot Doth Blather [YELLEN & HER FED]

    09/26/2016 3:48:40 AM PDT · by expat_panama · 2 replies
    david stockman's contracorner ^ | September 23, 2016 | David Stockman 
    Listening to Janet Yellen splitting hairs and blathering in circles about the state of the economy yesterday was enough to put you in mind of a paint-by-the-numbers robot built in the labs at MIT and programmed by its Keynesian economics department. After all, the latter has also inflicted on the world Paul Samuelson, Stanley Fischer, and his infamous student, Ben Bernanke.So why not a four-fer?There is only one question that Yellen needs to answer and then all else is readily explained. To wit, does she actually believe that the money market rate——as formerly measured by Fed funds before Bernanke nationalized the interbank market in September 2008——is a wholly owned property of the...
  • Clinton-Trump debate showdown carries potential to sock stocks

    09/26/2016 3:43:13 AM PDT · by expat_panama · 8 replies
    Market Watch ^ | Sept 24, 2016 8:30 a.m. ET | Wallace Witkowski
    Will the gloves come off Monday, and the wheels fall off stocks Tuesday? Investors will be keeping a close eye on the first of the presidential debates between Democrat nominee Hillary Clinton and GOP nominee Donald Trump for signs of a momentum shift in the heated race. The outcome from the head-to-head matchup carries the potential to deliver a jolt to U.S. equity markets coming off closely watched policy decisions by central bankers. Stocks finished the week higher, even with a Friday downturn... ...the debate may be, outside of another important meeting of major oil producers, the most important event...
  • These are the people who could win Donald Trump the election

    09/25/2016 7:20:33 AM PDT · by 2ndDivisionVet · 8 replies
    The New York Post ^ | September 24, 2016 | Salena Zito
    EAST LIVERPOOL, Ohio — Rich Andrason isn’t blind to the evidence of decay that a collapsed local economy and two generations of heroin addiction have brought to Columbiana County. Still, he wouldn’t change anything about his life here. “I have a good life here, I still do,” he said, settling behind a desk slightly elevated from the counter of the antiques shop he and his wife Janice own on Washington Street. Things used to be grander in the once-bustling downtown of this city of about 13,000 along the Ohio River. Parents brought kids here to shop for back-to-school clothes or...
  • Guess Who Has the World’s 15th Largest Economy? (...The American Religious Community)

    09/24/2016 8:41:53 AM PDT · by xzins · 9 replies
    CNS NEWS ^ | September 23, 2016 | John Stonestreet
    Guess who has the world’s 15th largest economy, right between Russia and Australia? American religion. Yep. A few months ago on BreakPoint, I mentioned a Pew study that demonstrated Americans’ increasing ignorance of the vital role played by religious institutions in this country. Between 2001 and 2016, the percentage of Americans who think that religion plays a role in solving important social problems fell from 75 percent to 58 percent. As I said at the time, “part of the problem is that the religious contribution to the common good is so woven into the fabric of American life, most people...
  • The Real Deplorables

    09/23/2016 11:27:29 PM PDT · by pboyington · 14 replies
    US Defense Watch ^ | September 23, 2016 | Ray Starmann
    Hillary Clinton and her fellow Democrats think that half of America consists of a basket of Deplorables; which includes gun owners, Christians, libertarians, veterans, rural America and those souls on the ‘Alt Right’ who believe in inalienable rights and the pursuit of happiness. In actuality, the real basket of Deplorables is the myriad of horrendous facts which confirm that the last seven years of the Obama administration have been an absolute and unmitigated disaster domestically and internationally. Without further ado, the Real Deplorables: The nation has the lowest labor participation rate since the 1970’s, with nearly 94 million Americans out...
  • Low Gender-Pay Complaints Are An Admission of Subpar Talent

    09/23/2016 3:50:01 AM PDT · by expat_panama · 52 replies
    Real Clear Markets ^ | September 23, 2016 | John Tamny
    "Yeah, you're a genius, everyone knows it, a goddamn genius, but that's why you failed as a head coach - that's why you'll never be a head coach ... some genius." Those were the words of head NFL coach Bill Parcells to then assistant, and at the time once-failed (with the Cleveland Browns) head coach, Bill Belechick. During a game Belechick had suggested a defensive scheme that Parcells rejected, only for Belechick to be proven correct. Parcells' irritated reply revealed a now dated view among some football types about Belechick; that while he was in possession of a brilliant defensive...
  • The global economy The low-rate world Central banks have been doing their best to...

    09/23/2016 3:39:53 AM PDT · by expat_panama · 5 replies
    The Economist ^ | Sep 22th 2016 | Editorial
    THEY do not naturally crave the limelight. But for the past decade the attention on central bankers has been unblinking—and increasingly hostile. During the financial crisis the Federal Reserve and other central banks were hailed for their actions: by slashing rates and printing money to buy bonds, they stopped a shock from becoming a depression. Now their signature policy, of keeping interest rates low or even negative, is at the centre of the biggest macroeconomic debate in a generation. The central bankers say that ultra-loose monetary policy remains essential to prop up still-weak economies... ...But a growing chorus of critics...
  • Fed “forward guidance” blows too much smoke

    09/23/2016 3:32:54 AM PDT · by expat_panama · 1 replies
    Reuters ^ | September 22, 2016 | Gina Chon
    The U.S. Federal Reserve is still enabling financial markets. The central bank on Wednesday again declined to raise rates, despite recent remarks from Chair Janet Yellen suggesting an increase was becoming more likely. The Fed counts talking to the market – what it calls giving “forward guidance” – as one of its tools, but the story has changed so often that Yellen and her colleagues might do better being less chatty. The Fed initially signaled four rate hikes in 2016 after raising the range for the federal funds rate to 0.25 percent to 0.5 percent last December... ...the U.S. economy...
  • Donald Trump, in Pittsburgh, Pledges to Boost Both Coal and Gas

    09/22/2016 5:37:44 PM PDT · by Innovative · 46 replies
    NY Times ^ | Sept. 22, 2016 | CORAL DAVENPORT
    Donald J. Trump on Thursday traveled to Pittsburgh, a city once synonymous with the rich coal seam that runs beneath it and now the capital of natural gas fracking, to promise the impossible: a boom for both coal and gas. Mr. Trump’s energy promises to those attending a corporate conference contained a fundamentally incompatible concept, as expanding the exploration of natural gas is the surest way to hurt coal production, and vice versa. Since the two fuels compete directly for the same market — the power plants that light American homes — it is effectively impossible to increase production of...
  • Economy A Hoax & House Of Cards-Paul Craig Roberts

    09/22/2016 5:01:10 PM PDT · by Right-wing Librarian · 48 replies
    Youtube ^ | September 22, 2016 | Paul Craig Roberts
    "With around 94 million people out of the workforce, and the near record low Labor Force Participation rate, former Assistant Treasury Secretary Dr. Paul Craig Roberts says, “The Labor Force Participation rate never falls during a recovery. It rises because people are entering the labor force to take advantage of the strong economy and jobs. So, there isn’t any economy. There is a house of cards that is held together by central bank money creation. The money flows into financial assets. That’s what keeps the stock market up, and it flows into bonds, which is why we have essentially 0%...
  • The number of new businesses in the US is collapsing — and that's disastrous news for the economy

    09/20/2016 7:40:53 PM PDT · by Lorianne · 29 replies
    Business Insider ^ | 16 September 2016 | Bob Bryan
    Possibly the defining business trend coming out of the financial crisis has been a "startup boom." Everyone is building an app or starting their own business it seems. This image, however, may be just an illusion, according to Michelle Meyer, US economist at Bank of America Merrill Lynch. Both the formation of firms (for example, McDonald's as a whole) and establishments (an individual McDonald's restaurant), have dropped off precipitously since the financial crisis and remained low. This is important, according to Meyer, because new businesses typically hire faster and produce higher levels of productivity than firms that have been around...
  • Obama Boom Builds Obamatowns

    09/22/2016 8:40:51 AM PDT · by Sean_Anthony · 5 replies
    Canada Free Press ^ | 09/22/16 | Dr. Robert Owens
    Happy days are here again the progressive puppet masters sing as everyone else sinks into the third world According to the megaphones of the Progressive-controlled media, the Obama economy is booming. For the investor class it has been a rising tide that lifts all yachts or as it is expressed in Bloomberg, “When President Barack Obama was elected in November 2008, the U.S. economy was shrinking at a rate unmatched since World War II. In the seven years between then and his final State of the Union address Tuesday night, global investors have enjoyed stellar results from the rapidly expanding...
  • UN fears third leg of the global financial crisis - with prospect of epic debt defaults

    09/22/2016 3:57:08 AM PDT · by expat_panama · 2 replies
    U.K. Telegraph ^ | 22 SEPTEMBER 2016 • 7:22AM | AMBROSE EVANS-PRITCHARD
    The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity. "Alarm bells have been ringing... ...money was wasted, skewed towards "highly cyclical and rent-based sectors of limited strategic importance for catching up," it said. Worse yet, these countries have imported the deformities...
  • Divided Fed Holds Off On Rate Hike, Sees Slower Tightening Path

    09/22/2016 3:42:30 AM PDT · by expat_panama · 16 replies
    Investors Business Daily ^ | September 21, 2016 | JED GRAHAM
    The Federal Reserve left interest rates unchanged Wednesday after its two-day policy meeting, as expected, and longer-term rate projections show an even slower pace of increases. Still, policymakers painted a mostly upbeat picture about the job market and overall growth and signaled that the Fed's key rate will rise before year-end. Markets have increasingly been pricing in a December hike... ...Fed's forecasts show policymakers expect three rate hikes through the end of 2017, down from five at their June meeting. The estimate for the fed funds rate in 2017 has slipped to 1.1% in 2017 from a 1.6% view in...
  • Robert J. Samuelson: The Last Days Of Free Trade?

    09/22/2016 3:38:26 AM PDT · by expat_panama · 60 replies
    Investors Business Daily ^ | September 21, 2016 | ROBERT J. SAMUELSON
    Guess what? A President Trump could adopt his new trade agenda without any authorization from Congress -- and this could trigger a global trade war and a deep U.S. recession. Policies that promise to make us stronger economically could do the opposite. That's the main take-away of a study... ...Trump could implement most of his proposals, which repudiate decades of pro-trade policies, by executive order. So contends Peterson's Gary Hufbauer after a review of trade laws. Over the past century, Hufbauer says, Congress has passed many laws that "authorize the president to impose tariffs...... ...Trump's bluster may simply be a...
  • UN fears third leg of the global financial crisis, with epic debt defaults

    09/21/2016 2:21:38 PM PDT · by NRx · 35 replies
    The Telegraph ^ | 09-21-2016 | Ambrose E. Pritchard
    The third leg of the world's intractable depression is yet to come. If trade economists at the United Nations are right, the next traumatic episode may entail the greatest debt jubilee in history. It may also prove to be the definitive crisis of globalized capitalism, the demise of the liberal free-market orthodoxies promoted for almost forty years by the Bretton Woods institutions, the OECD, and the Davos fraternity. "Alarm bells have been ringing over the explosion of corporate debt levels in emerging economies, which now exceed $25 trillion. Damaging deflationary spirals cannot be ruled out," said the annual report of...
  • Only one candidate has a plan for a booming economy

    09/21/2016 7:35:14 PM PDT · by MtnClimber · 7 replies
    New York Post ^ | 20 Sep, 2016 | Betsy Mccaughey
    The choice for voters is clear: a tax cut from Donald Trump or a pay cut courtesy of Hillary Clinton. Trump is promising to slash income taxes to zero for millions of people currently paying them, and to reduce the tax bite on everyone else except the mega-rich. Clinton, by contrast, isn’t cutting income tax rates for anyone. Instead, she’s campaigning to raise business taxes, despite warnings it will cause wages to plummet and the economy to tank. No wonder Trump is moving up in the polls. Most Americans are still making less than they did in 2007. The mainstream...
  • Senator from Punjab’: How Hillary Clinton Masterminded a Global Scheme to Replace American Workers

    09/21/2016 5:42:59 AM PDT · by detective · 31 replies
    Breitbart ^ | 20 Sep 2016 | Julia Hahn
    Hillary Clinton co-founded the Senate India Caucus, which anti-offshoring advocates say champions “issues important to India, including outsourcing and H-1B and L-1 visas.” •Clinton in 2005: “I am delighted to be the Senator from Punjab as well as from New York.” •Clinton has called for nearly doubling the controversial H-1B guest worker program—suggesting that American workers lack the skills to fill American jobs. She has also defended the cheap labor practices of an Indian outsourcing firm, to which the Clinton Foundation has financial ties: “We are not against all outsourcing; we are not in favor of putting up fences,” she...
  • China Is Digging Itself into a Deeper Hole

    09/21/2016 5:18:22 AM PDT · by expat_panama · 10 replies
    John Mauldin ^ | Sept. 19 2016 | John Mauldin
    Chinese “depreciation” and all its ensuing hysteria occurred just about a year ago. It has also been a about a year since I co-wrote a book on China with Worth Wray titled A Great Leap Forward? The title was meant to be ironic. The original Great Leap Forward was imposed by Mao in the 1960s. It was one of the most economically disastrous times in Chinese history. Food production increased, yet 30 million people starved. China underwent a true financial and economic crisis due to the insanity of central control of markets. China now attempts something that is as powerful...
  • Betsey McCaughey: What's In Your Wallet?

    09/21/2016 3:52:02 AM PDT · by expat_panama · 9 replies
    Investors Business Daily ^ | September 20, 2016 | BETSY MCCAUGHEY
    The choice for voters is clear: a tax cut from Donald Trump or a pay cut courtesy of Hillary Clinton. Trump is promising to slash income taxes to zero for millions of people currently paying them, and to reduce the tax bite on everyone. Clinton isn't cutting income tax rates for anyone. Instead, she's campaigning to hike business taxes, despite warnings it will cause wages to plummet and the economy to tank. Betsy McCaughey HeadshotNo wonder Trump is moving up in the polls. Most Americans are still making less than they did in 2007. The mainstream media want to double...
  • Trump’s plan for inner cities could decide election

    09/20/2016 9:40:58 PM PDT · by 2ndDivisionVet · 14 replies
    The Detroit News | September 20, 2016 | Justin Haskins
    Link only due to copyright issues: http://www.detroitnews.com/story/opinion/2016/09/20/trump-plan-inner-cities/90768524/
  • Bill Clinton: Don’t blame NAFTA, blame activist investors

    09/20/2016 11:09:44 AM PDT · by NormsRevenge · 23 replies
    Yahoo Finance ^ | 9/20/16 | [CNBC] Christine Wang
    <p>Bill Clinton told CNBC on Tuesday that activist investors, rather than trade deals, are partially at fault for U.S. corporations moving operations out into Mexico.</p> <p>GOP presidential hopeful Donald Trump has called for "economic independence" and blamed globalization for "totally" wiping out the American middle class. Trump has previously called NAFTA "the worst trade deal in history" and blamed Bill and Hillary Clinton for endorsing it.</p>
  • Is the Fed politically biased? Look at its interest-rate decisions as elections near

    09/20/2016 5:13:02 AM PDT · by expat_panama · 8 replies
    Los Angeles Times ^ | september 19, 2016 | Jim Puzzanghera and Don Lee
    The presidential election was exactly four weeks away and Federal Reserve policymakers were wrestling with the potential political blowback of lowering a key interest rate to stimulate the economy. One official said he “thought it was conventional wisdom that we weren’t expected to act so close to an election,” according to a transcript of the closed-door Oct. 6, 1992 meeting. Another said that there was “a strong argument that the credibility” of the rate-setting Federal Open Market Committee “would be hurt by our doing something close to an election.” Video: Where Candidates Stand on the Fed Finally, Fed Chairman Alan...
  • Stock investors, don’t despair if Donald Trump wins A new four-year cycle is about to begin...

    09/20/2016 4:05:28 AM PDT · by expat_panama · 10 replies
    Market Watch ^ | Sept 20, 2016 6:11 a.m. ET | Mark Hulbert
    CHAPEL HILL, N.C. (MarketWatch) — I’ll start with the bad news: The fourth year of the presidential election-year cycle is about to end, and year No. 1 of a new cycle is about to begin. And you can only guess what that means. But there also is some good news: What you know about the first year of the cycle is most likely wrong: First years do not automatically spell doom..... ...two features of that record that suggest we shouldn’t write off the stock market’s near-term prospects. First, as you can see in the chart at the top of this...
  • Robert J. Samuelson: The Old Fed Is Dead

    09/19/2016 5:48:18 AM PDT · by expat_panama · 35 replies
    Investors Business Daily ^ | September 17, 2016 | ROBERT J. SAMUELSON
    The betting is that the Federal Reserve won't raise interest rates at this week's meeting of the Federal Open Market Committee, its key policymaking body. There are already complaints that the Fed, which cut short-term rates to near zero in late 2008, is waiting too long to reverse low rates. Last December, the Fed increased rates by a quarter of a percentage point. It hasn't done anything since. "The Fed will make a major mistake if it doesn't raise rates," says economist Mark Zandi of Moody's Analytics. "The job market is strong and very close to full employment. Inflation is...
  • This Big Surprise Will Make Next Week Fed's Interest-Rate Meeting A Lot More Interesting

    09/19/2016 5:42:46 AM PDT · by expat_panama · 5 replies
    http://fortune.com/2016/09/16/interest-rates-inflation-fed/ ^ | September 16, 2016, 4:28 PM EDT | Chris Matthews
    If you’ve noticed the prices of of everyday goods are on the rise, you’re not alone. On Friday the Labor Department announced that the core consumer price index (CPI)—which strips out volatile food and energy costs—rose 2.3% over the past 12 months, up from 1.8% one year ago. “The data help the case for Fed tightening,” writes Jim O’Sullivan, chief U.S. economist for High Frequency Economics. The futures market concurs. It is indicating that the chance of a rate high at or before the Fed’s December meeting is above 50% for the first time in months. But some analysts are...
  • China facing full-blown banking crisis, world's top financial watchdog warns

    09/19/2016 5:34:29 AM PDT · by drop 50 and fire for effect · 12 replies
    The Telegraph (UK) ^ | 19 September 2016 | Ambrose Evans-Pritchard
    China has failed to curb excesses in its credit system and faces mounting risks of a full-blown banking crisis, according to early warning indicators released by the world’s top financial watchdog. A key gauge of credit vulnerability is now three times over the danger threshold and has continued to deteriorate, despite pledges by Chinese premier Li Keqiang to wean the economy off debt-driven growth before it is too late. The Bank for International Settlements warned in its quarterly report that China’s "credit to GDP gap" has reached 30.1, the highest to date and in a different league altogether from any...
  • No thank you, Obama The new Census report on income and poverty proves why no thanks are due

    09/19/2016 2:36:17 AM PDT · by expat_panama · 15 replies
    The Washington Times ^ | Sunday, September 18, 2016 | Stephen Moore
    While touting the new Census report on income and poverty in America, Barack Obama took credit for $2 a gallon gasoline, and immodestly shouted to his crowd of supporters: “Thank you, Obama.” I don’t want to sound ungrateful, but given that for eight years your administration has done everything to decapitate the oil and gas industry that gave us low gas prices, sorry, no thanks are in order Mr. President. Even more amazing was Mr. Obama’s victory lap on the income numbers. Yes, incomes for middle class families rose by an impressive 5 percent in 2015. And poverty fell. Thank...
  • Almost half of America could become the new permanent underclass

    09/19/2016 12:00:58 AM PDT · by 2ndDivisionVet · 30 replies
    The New York Post ^ | September 17, 2016 | Maureen Callahan
    Of all the unforced errors Hillary Clinton’s made so far, calling half of Trump supporters “a basket of deplorables” is possibly her most misguided. Aside from falling prey to juvenile name-calling, Clinton presumes that this swath of the electorate uniformly holds, and is animated by, racist views. Perhaps her husband needs to remind her of his campaign slogan in 1992: It’s the economy, stupid. Last Tuesday, four days after Clinton made that remark — at a star-studded gala in Manhattan, where Barbra Streisand performed — the Census Bureau released new data about jobs and the economy. It was bad, bad...
  • To Secure His Brutal Grip on Power, North Korean Leader Adopts Grandfather’s Folksy Image

    09/18/2016 10:00:21 PM PDT · by TigerLikesRooster · 6 replies
    WSJ ^ | Sept. 18, 2016 | Alastair Gale
    To Secure His Brutal Grip on Power, North Korean Leader Adopts Grandfather’s Folksy Image Kim Jong Un fashions his propaganda, policies and nuclear ambitions after the country’s founder, Kim Il Sung. He even copies his haircut and dress By Alastair Gale Sept. 18, 2016 5:50 p.m. ET 46 COMMENTS SEOUL? Kim Jong Un was a virtual unknown when his father died of a heart attack in December 2011 and left him the leader of North Korea. Intelligence analysts knew little more than he was a man in his 20s who had attended school in Switzerland and loved basketball. Some guessed...
  • Union “Rank-in- File” Prefer Donald Trump as US President

    09/18/2016 3:42:49 PM PDT · by 2ndDivisionVet · 18 replies
    Live Trading News ^ | September 18, 2016 | Paul Ebeling
    <p>America’s union leaders are not expending a lot of energy trying to win back members drawn to Donald Trump’s populist, anti-trade message.</p> <p>Donald Trump is wooing working-class voters by promising to renegotiate trade deals and bring back lost manufacturing jobs, some unions are re-calibrating their usual election-year outreach to members on behalf of Hillary Clinton to account for his appeal.</p>
  • Italian PM Renzi says he is tired of wasting time at European summits

    09/18/2016 9:26:30 AM PDT · by Lorianne · 6 replies
    DW ^ | 17 September 2016
    "We have no use for staged events," the Italian PM has said one day after a meeting of European Union leaders. Renzi had refused to appear during closing press conference with his German and French counterparts. Italian Prime Minister Matteo Renzi blasted the latest European Union summit in Bratislava on Saturday, effectively labeling Friday's high-level meeting a waste of time. "I don't think it would be right for Italy to pretend not to notice when things are not getting any better," Renzi said at a conference in Florence. Hours earlier, he criticized the summit in an interview with TV broadcaster...
  • [N. Korea] Did Kim Jong Un Just Nuke China's Economy?

    09/17/2016 7:53:17 PM PDT · by TigerLikesRooster · 9 replies
    Forbes ^ | Sep 11, 2016 | Gordon G. Chang
    Sep 11, 2016 @ 12:01 AM Did Kim Jong Un Just Nuke China's Economy? Gordon G. Chang , Contributor I write about Asia, especially the Chinese economy. Full Bio  Opinions expressed by Forbes Contributors are their own. Friday, North Korea detonated a nuclear device, claiming it to be a “warhead.” The warhead, Pyongyang said, would pave the way for “a variety of smaller, lighter, and diversified nuclear warheads of higher strike power.” The boast seemed nothing out of the ordinary for bombastic ruler Kim Jong Un, but the test, the North’s fifth, is generating far more concern in Washington...
  • "Well, That's Never Happened Before" (U.S. Auto Loans down, Sales Down, Inventory Up)

    09/17/2016 4:41:20 PM PDT · by Perseverando · 49 replies
    Zero Hedge ^ | September 17, 2016 | Tyler Durden
    In the history of data from The Fed, this has never happened before... Aggregate Auto Loan volume actually fell last week... And less loans means one simple thing... less sales (because prices have never been higher and no one is paying cash)... Which is a major problem since motor vehicle production continues to rise as management is blindly belieiving the Hillbama narrative that everything is (and will be) awesome. The problem is... inventories are already at near record highs relative to sales (which are anything but plateauing)... In fact, the last time inventories were this high relative to sales, GM...
  • Fox News Poll: Who do you trust to do a better job on the economy? (Trump 51%, Hillary 44%)

    09/17/2016 10:58:45 AM PDT · by BlackFemaleArmyCaptain · 22 replies
    Twitter ^ | 9/17/2016 | Fox News
    Poll: Who do you trust to do a better job on the economy?
  • Enough jobs in Singapore; Govt helping create better jobs: Lim Swee Say

    09/16/2016 6:29:20 PM PDT · by 2ndDivisionVet
    Channel News Asia ^ | September 16, 2016 | Alice Chia
    SINGAPORE: There are enough jobs in Singapore and the Government is helping industries to transform their business models to create better jobs - an assurance that came from Manpower Minister Lim Swee Say on Friday (Sep 16), following the release of employment data on Thursday that showed there were more jobseekers than vacancies. Mr Lim said: "I want to assure Singaporeans that if you look at it from totality, there are enough jobs. Don't just look at the 49,000 job openings; in fact there are 3.3 million jobs out there in Singapore. And in fact what we are doing is,...
  • If You Want Economic Growth, Vote Republican, Says … Harvard Business School?

    09/16/2016 3:45:49 AM PDT · by expat_panama · 12 replies
    Investors Business Daily ^ | September 15, 2016 | Editorial
    Economy: The latest annual report from the Harvard Business School on the state of U.S. competitiveness says political gridlock is getting in the way of strong economic growth. What it fails to mention is that Democrats are the ones blocking the pro-growth proposals the report advocates. The latest HBS report paints a bleak but accurate picture of the current economy -- lackluster economic and productivity growth, an incredibly slow rate of job creation... ...no meaningful progress on the critical policy steps to restore U.S. competitiveness... ...Don't believe it? Look at the eight-point plan itself and ask yourself which party supports...
  • Trump Leads Clinton Nationally and in Four States...(CO +4%, GA +6%, MO +13%, AR +28%, US +2%)

    09/15/2016 12:55:23 PM PDT · by Red Steel · 139 replies
    Emerson College ^ | September 15, 2015
    Title: "Trump Leads Clinton Nationally and in Four States Polled; 3 of 4 Senate Incumbents Look Safe; Pneumonia News Hurting Clinton" BOSTON, MA - In the first national poll conducted by Emerson College during this general election season, the presidential race is looking like a dead heat, with Donald Trump edging out Hillary Clinton 43% to 41%, well within the poll’s 3.4% margin of error (MOE). Libertarian candidate Gary Johnson holds 9% of the popular vote, and the Green Party’s Jill Stein gets 2%. ​ Eight in 10 (81%) of voters surveyed nationally were aware that Clinton was recently diagnosed...