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Keyword: economy

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  • CBO revises estimate, warns U.S. economic growth will underwhelm in 2014

    08/27/2014 1:35:40 PM PDT · by SeekAndFind · 21 replies
    Hotair ^ | 08/27/2014 | Noah Rothman
    The Congressional Budget Office released a bit of a good news/bad news report on Wednesday regarding the state of the U.S. economy and federal budget. In the bad news column, CBO projected 2014’s GDP growth at just 1.5 percent. The report blamed this revision on “the surprising economic weakness in the first half of the year.” In early June, the International Monetary Fund projected the United States to grow by just 2 percent this year, revising its own estimate down from a previously anticipated 2.7 percent GDP expansion. This report is not likely to be warmly greeted by the...
  • Don't Be Fooled: This Week's Economic Data Should Be Taken With a Large Grain of Salt!

    08/27/2014 7:39:47 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | August 27, 2014 | Donald Lambro
    WASHINGTON - A bunch of economic numbers from the government this week, which should be taken with a large grain of salt, were expected to show the economy was doing much better in the past three months. Well, we've seen these periodic, fragmentary numbers many times before, only to see the economy continue to slowly slog along at its painfully lackluster, jobs-challenged pace for the past six and a half years now. President Obama will recite the exaggerated economic numbers that his cherry-picking speech writers select to prove that he's brought the economy back from the bring of recession. But...
  • CBO forecasts $506 billion budget deficit for 2014 (1.5% GDP)

    08/27/2014 7:41:15 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | August 27, 2014 | By Robert Schroeder
    The Congressional Budget Office on Wednesday raised its estimate of the federal governments budget deficit for the current fiscal year as it slashed its growth forecast, and warned red ink was due to rise in coming years if Washington doesnt change current laws. In an update of budget and economic projections for 2014 to 2024, the nonpartisan CBO said the U.S. governments deficit for fiscal 2014 will be $506 billion, or 2.9% of gross domestic product. The new estimate is $14 billion more than the agencys prior estimate for the year, issued in April. The agency lowered its projection of...
  • The Basic Income Guarantee: Simplicity, but at What Cost?

    08/27/2014 5:55:16 AM PDT · by Citizen Zed · 20 replies
    CATO Unbound ^ | 8-26-2014 | Michael D. Tanner
    Our current welfare system is clearly a mess. The federal government currently funds 126 separate anti-poverty programs, at least 72 of which provide either cash or in-kind benefits to individuals. For example, there are 33 housing programs, run by four different cabinet departments, including bizarrely the Department of Energy. There are currently 21 different programs providing food or food purchasing assistance. These programs are administered by three different federal departments and one independent agency. There are eight different health care programs, administered by five separate agencies within the Department of Health and Human Services. And six cabinet departments and five...
  • Why a Slowdown in Housing Prices Is Great News

    08/27/2014 7:05:57 AM PDT · by SeekAndFind · 3 replies
    New York Times ^ | 08/27/2014 | Neil Irwin
    There was some glumness in the latest news on housing prices. There shouldnt be. Slower home price rises and in some markets, outright declines are a sign the housing market is starting to move past the boom-and-bust cycle of the last dozen years toward a market where sensible prices driven by local economic conditions prevail. The S.&P./Case-Shiller home price index showed prices rose 8.1 percent in 20 major cities in the 12 months ended in June, the lowest rate of increase since 2012. Compared with Mays prices, national home prices actually declined oh-so-slightly, by 0.1 percent, with six...
  • Rosenberg: The Next Recession Could Be 4 Years Away

    08/27/2014 7:06:48 AM PDT · by blam · 11 replies
    Pragmatic Capitalism ^ | 8-27-2014 | Cullen Roche
    Cullen Roche Wednesday, August 27th, 2014 Talk about a flip in perspective. David Rosenberg, who had been bearish for years, has turned into one of the biggest bulls on Wall Street. The Gluskin Sheff analyst now says his recession forecasting model could be pointing to another four years of economic expansion (via a recent note of his): (snip)
  • Opinion: Who wants to invest in Ferguson now?

    08/27/2014 3:49:44 AM PDT · by 2ndDivisionVet · 59 replies
    Market Watch ^ | August 27, 2014 | David Weidner
    Shellena Eskridge: We need role models. We need an entire change for the better. We need economic change.FERGUSON, Mo. This town is already cleaning up. The streets are litter-free. The windows are being repaired. Now the question is, can this small community be able to draw new business, and will anyone stay? And its a question not just for Ferguson but for St. Louis as a whole. Negative attention from more than two weeks of protests over the death of Michael Brown brought the regions deep-seated racial, economic and social problems into the national spotlight. And not in a...
  • More Than Half Of All Americans Cant Come Up With $400 In Emergency Cash Unless They Borrow

    08/26/2014 3:51:12 PM PDT · by SeekAndFind · 83 replies
    Personal Liberty Digest ^ | August 11, 2014 | Ben Bullard
    Count yourself fortunate, or something, if youre among the 48 percent of Americans who can cough up a spare $400 in emergency cash without having to beg, borrow or steal. According to a Federal Reserve report on American households economic well-being in 2013, fewer than half of all Americans said theyd be able to come up with four Benjamins on short notice to deal with an unexpected expense. The report, released last week by the Board of Governors of the Federal Reserve, indicates a disparity between how Americans view their financial situation and the reality of where their finances actually...
  • As Argentina Peso Plummets To Record, BofA Warns Of Looming Economic Crisis

    08/26/2014 10:03:45 AM PDT · by blam · 6 replies
    Zero Hedge ^ | 8-26-2014 | Tyler Durden
    Tyler Durden 08/26/2014 After spending time in Argentina, BofA's Marcos Buscaglia is concerned... The perception of many locals is that the risks of an economic/currency crisis before year-end have increased significantly. This compares to a view they had before of a muddle-through till the 2015 presidential elections. Policy decision-making is ever more concentrated, and the administration has radicalized, but the severe economic downturn will change political incentives in 2015, in BofA's view. With the official peso rate at record lows once again, the black-market Dolar-Blue tumbled to over 14/USD - a record low indicating dramatic devaluation ahead (which of course,...
  • Survey: Economists say Fed is on the right track

    08/24/2014 11:50:29 PM PDT · by Olog-hai · 15 replies
    Associated Press ^ | Aug 25, 2014 12:39 AM EDT | Ken Sweet
    A majority of economists believe the Federal Reserve is doing the right things to help repair the U.S. economy, according to a survey released Monday by the National Association of Business Economists. The survey also showed that a vast majority of economists believe the U.S. economy is at little risk of inflation in the coming years. In the associations semiannual survey, 53 percent of economists said the Feds stimulus programs were on the right track for the U.S. economy while 39 percent thought the Fed was doing too much.
  • Im expecting the next crisis rather sooner than later

    08/24/2014 6:50:35 PM PDT · by GilGil · 21 replies
    Finanz und wirtschaft ^ | 8/19/14 | Christoph Gisiger
    So whats really going on? We are in a structural depression that began in 2007 and will continue indefinitely. A lot of people dont understand the definition of an economic depression. They believe that it means a continuous decline in GDP. Put differently: If two quarters of declining GDP mark a recession than a depression must be a long string of declining GDP. But thats not the definition. A depression does not mean that you have no growth. You can have growth in a depression, it just means the growth is below trend. But all the policy makers think were...
  • Capitalizing Off Tragedy: Michael Brown Merch Hits the Internet

    08/24/2014 5:59:48 PM PDT · by 2ndDivisionVet · 24 replies
    The Blot Magazine ^ | August 20, 2014 | Matthew Keys
    The Internet is proving to be a lifeline for those seeking information about the ongoing investigation into the officer-involved fatal shooting of an unarmed black teenager in an otherwise quiet suburban Missouri town. Unfortunately, the Internet is also serving as a reminder that will always be those who seek to make a dollar off the chaos and misfortune of others. The online merchant TshirtLegend is selling a Justice for Mike Brown t-shirt alongside other shirts that read Lets Get Nashty and I Want to Believe on the online marketplace Etsy. Some online merchants have begun selling T-shirts and other merchandise...
  • Investment & Finance Thread (week Aug. 24 - Aug. 30 edition)

    08/24/2014 2:36:41 PM PDT · by expat_panama · 68 replies
    Daily investment & finance thread ^ | Aug. 24, 2014 | Freeper Investors
    Happy weekend investors!!This week's thread will have to settle for a lame blog at the top due to a severe case of writer's block. Topics considered were a weekly recap but here's the week in stocks and here's the week in metals. Another idea was chat about the Fed meeting at Jackson Hole but they're just wrapping it up and the Fed website isn't quite updated. Another idea is a resume of all the good news & bad news about today's econ condx, but that either keeps changing or it's already been rehashed on these threads by better brains than...
  • Why Is It So Hard for Employers to Fill These Jobs?

    08/24/2014 6:54:55 AM PDT · by 2ndDivisionVet · 178 replies
    The Daily Signal ^ | August 23, 2014 | Stephen Moore
    America has a deficit of workers. Willing workers. Capable workers. Skilled, or at least semi-skilled workers, who can do a job and do it well. There are at least one million jobs that go begging day after day if only employers could find workers to fill them. This probably seems hard-to-believe. After all, how can America have a worker shortage when we have about 18 million Americans who are unemployed or underemployed? When the real unemployment rate is 12 percent? Well certainly the economy isnt creating nearly as many jobs as it should in large part because of regulatory...
  • Office Depot to close 165 stores this year; settles lawsuit for $80 million

    08/24/2014 3:45:11 AM PDT · by 2ndDivisionVet · 17 replies
    The Fort Lauderdale Sun-Sentinel ^ | August 5, 2014 | Marcia Heroux Pounds
    Boca Raton-based Office Depot said Tuesday it would close 165 stores during 2014 up from the 150 estimated earlier this year but stuck with a total count of 400 store closures through 2016, the company said. The office-supply retailer, which merged with OfficeMax last year in a $1.2 billion transaction, said it has completed its analysis of which stores will be closed across the U.S. and Canada. Locally, the retailer has closed two OfficeMax stores, in Coral Springs and Deerfield Beach. The company also announced on a conference call following its second-quarter earnings announcement that it has settled...
  • Yellen US Jobs Market 'Yet to Fully Recover'

    08/23/2014 4:05:28 AM PDT · by Son House · 16 replies
    MENAFN News ^ | 22/08/2014 | MENAFN News
    Yellen picked through the various arguments over what the seemingly contradictory data says: the faster-than-expected fall in the jobless rate to 6.2 percent from 7.3 percent a year ago, against the persistently extremely low labor force participation rate since the Great Recession, just 62.9 percent. Yellen agreed that there have been some structural changes that have affected the way the labor market signals tightening through indicators such as part-time work, the number of people leaving jobs, and wage gains - which have been virtually insignificant since the recession ended in 2009. But she insisted that the combined data that the...
  • Please pray for us

    08/22/2014 7:36:38 PM PDT · by 2ndDivisionVet · 105 replies
    August 22, 2014 | 2ndDivisionVet
    My wife just found out today that her store will close in about two months and she may be laid off. That will leave only my small V.A. pension and that won't cut it. Plus she won't have health insurance. We need your prayers. Thanks.
  • 5 things you should know about poverty in Southern California

    08/21/2014 7:43:11 PM PDT · by Pelham · 54 replies
    Orange County Register ^ | Aug. 20, 2014 | JENNA CHANDLER
    Economists say regional poverty trends are alarming. Redlands-based economist John E. Husing issued a dire warning Wednesday, as elected officials from across Southern California pledged to reignite Lyndon Johnsons war on poverty: If we do not solve this problem, we are not going to want to live in Southern California. The communities are going to become unhinged. Husing is one of several economists who looked at findings from the 2012 American Community Survey and state Employment Development Department to find out where poverty is concentrated in Los Angeles, Orange, Riverside, Ventura, San Bernardino and Imperial counties. Some of the results...
  • Investors cheer: S&P 500 hits all-time high [again!]

    08/21/2014 2:28:12 PM PDT · by SeekAndFind · 11 replies
    CNN Money ^ | 08/21/2014 | Heather Long
    If you kept your money in the stock market this summer, you're likely feeling pretty smart now. The start of August was rough for stocks as the Russia-Ukraine standoff, the Israel-Gaza conflict and terrorist group activity in Iraq all flared again. While serious problems remain in each of these regions, their impact on the U.S. economy so far has been limited. A stock market bounce back is in full effect. On Thursday, the Dow closed above the 17,000 mark for the first time since July 24. Not to be outdone, the S&P 500 set a new all-time high of just...
  • Zimbabwe economy takes another dive

    08/21/2014 2:40:16 PM PDT · by george76 · 12 replies
    ap ^ | FARAI MUTSAKA
    Several million Zimbabweans left for South Africa and other countries during past economic turmoil. Now, a year after the re-election of longtime leader Robert Mugabe, the country is facing new financial hardships. Zimbabwe's unemployment rate is estimated at 80 percent, pushing many people try to earn a living as street traders.
  • The 35.4 Percent: 109,631,000 on Welfare

    08/20/2014 7:09:30 AM PDT · by xzins · 89 replies
    CNS ^ | August 20, 2014 | Terence P. Jeffrey
    109,631,000 Americans lived in households that received benefits from one or more federally funded "means-tested programs" also known as welfare as of the fourth quarter of 2012, according to data released Tuesday by the Census Bureau. The Census Bureau has not yet reported how many were on welfare in 2013 or the first two quarters of 2014. But the 109,631,000 living in households taking federal welfare benefits as of the end of 2012, according to the Census Bureau, equaled 35.4 percent of all 309,467,000 people living in the United States at that time. When those receiving benefits from...
  • Average Price of Ground Beef Hits All-Time High

    08/20/2014 5:47:09 AM PDT · by xzins · 69 replies
    CNS ^ | August 19, 2014 | Ali Meyer
    (CNSNews.com) The average price for all types of ground beef per pound hit its all-time high -- $3.884 per pound -- in the United States in July, according to data released today by the Bureau of Labor Statistics (BLS). That was up from $3.880 per pound in June. A year ago, in July 2013, the average price for a pound of ground beef was $3.459 per pound. Since then, the average price for a pound of ground beef has gone up 42.1 cents--or about 12 percent. Five years ago, in July 2009, the average price for a pound of...
  • The Wheels Are Coming Off California's Ballyhooed Comeback

    08/19/2014 2:16:24 PM PDT · by SeekAndFind · 20 replies
    IBD ^ | 08/19/2014
    Stop the music. All the merriment over the California recovery may have been a bit premature. Tax revenues are way down this year in the Golden State, and this could throw the books back into the red. Not so Golden State Here is the sobering analysis released last week from the Rockefeller Institute of Government, which monitors state spending and revenues: "After four years of uninterrupted growth, states' tax collections saw a decline in the first quarter of 2014. Preliminary figures for the second quarter of 2014 indicate further declines in personal income-tax collections and possibly in overall state taxes."...
  • Study Finds 25% of Troops Use Food Banks

    08/19/2014 9:28:00 AM PDT · by george76 · 11 replies
    Military ^ | Aug 18, 2014 | Amy Bushatz
    A new study suggests that 25 percent of troops in active duty, Guard and the Reserve use food banks to provide groceries and meals for themselves or their families. The study sponsored by Feeding America, the nation's largest food bank network, is conducted once every four years and was based on data collected in 2012. It found that four percent of surveyed households who used a food bank contained a currently serving military member. Based on those results, Feeding America officials estimated that 620,000 of their 46.5 million customers, or about 25 percent of the military population in 2012, used...
  • Were going to kill the dollar. White House, DoJ & Treasury don't deny Obama staffer statement

    08/19/2014 5:29:27 AM PDT · by Opinionatedtoday · 38 replies
    When a senior Obama member allegedly told Kyle Bass, the founder and principal of the $2 billion hedge fund, Hayman Capital Management, Were just going to kill the dollar, during a discussion about fixing the trade deficit and economy, was that Obama official joking or serious? I set out to find out and contacted the White House, Treasury Department and Department of Justice (DoJ). Kill the dollar. Kill a nation. Live in denial and be blindsided if what the senior Obama member allegedly said to Bass was true. Ask the Russians what life was like in the former Soviet Union...
  • The real looting of Ferguson: its black citizens never had a chance to get by

    08/19/2014 4:38:50 AM PDT · by 2ndDivisionVet · 50 replies
    The Manchester Guardian ^ | August 19, 2014 | Steven W. Thrasher
    The National Guard rolled in to protect a status quo. But racism set a status quo of inequality long before Michael Brown died.The National Guard will essentially protect the legal looting of black people much as it was protected when Missouri became the last slave state admitted to the union. The symptoms of structural racism stain America everywhere, but its execution is particularly perverse in places like Ferguson. Its not just that black drivers are stopped more often for alleged crimes than white drivers, despite the Missouri attorney generals report that white people break the law more often. Its...
  • 36% of adults lack retirement savings -- 14% of them 65 or over

    08/18/2014 12:13:58 PM PDT · by SeekAndFind · 57 replies
    Los Angeles Times ^ | 08/18/2014 | By JIM PUZZANGHERA
    More than a third of American adults have no retirement savings, including 14% of those 65 years of age or older, according to a new study released Monday. The low savings rate for people at or approaching retirement age is alarming, said Greg McBride, chief financial analyst for Bankrate.com, which conducted the survey. About a quarter -- 26% -- of those age 50 to 64 haven't started saving for retirement, the survey said; the figure was 33% of people who are 30- to 49-years-old. Overall, 36% of those 18 years or older have not started saving for retirement, according to...
  • Study: At Least 740,000 Wisconsinites Face Food Insecurity

    08/18/2014 10:53:13 AM PDT · by Citizen Zed · 57 replies
    MADISON, Wis. In the land of cheese and bratwurst, a surprising 740,000 Wisconsinites are worried about going hungry. A recent study by the University of Wisconsin School of Medicine and Public Health shows a significant portion of the state's population is worried about not having enough to eat. Lead researcher Dr. Javier Nieto said it isn't just a problem in the rural areas of the state. "We also found more than six percent of respondents in suburban, wealthier areas, also responding 'yes' to the question about whether families have been concerned about having enough food for their family in...
  • It's Different This Time: Humans Need Not Apply

    08/17/2014 4:32:19 PM PDT · by Kaslin · 42 replies
    Townhall.com ^ | August 17, 2014 | Mike Shedlock
    On August 7, I wrote about "McCashier" Your $15.00 Per Hour McDonald's Worker Replacement. Sure. You can make $15 an hour at McDonald's, at least in Seattle. You just have to perform better than this machine. Many commented along the lines of "What's the big deal? It's only a cashier. There are more cooking jobs that cannot be replaced." For example reader Chris commented ... A McDonalds worker isn't a "cashier." The person who works the front end doesn't just take orders and money. The person who works up front also fills drinks for drive thru. They clean the restrooms...
  • A New Interest Rates Record Is Set... And It Is Foreboding

    08/17/2014 9:08:33 PM PDT · by blam · 20 replies
    Market Oeracle ^ | 8-17-2014 | Daily Wealth
    August 17, 2014 DailyWealth Dr. Steve Sjuggerud writes: A new record was set in Germany yesterday... The interest rate on a 10-year government bond in Germany fell below 1%. This number is shocking... Interest rates have never been this low in German history. What does it mean? Why would people agree to lend money to a government for 10 years with almost no return on that money? What is the message that we should take from this? Aren't things supposed to be getting back to "normal"? And doesn't "normal" mean something like this: By 2020, the Federal Reserve has short-term...
  • What States are the Biggest Job Winners and Losers in the Recovery?

    08/18/2014 6:36:36 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | August 18, 2014 | Mike Shedlock
    The Deloitte University Press has a very interesting, and comprehensive study on job gains and losses, by type of job, and state by state. The biggest winners are states involved in energy production, finance, or healthcare. The biggest losers are states that did not recover from the real estate bust, or lost population due to emigration. With that overview, let's dive deeper into the Geography of Jobs. Only now, as we reach the fifth anniversary of the end of the recession, has employment in the United States finally regained its pre-recession peak. The national story of slow recovery obscures the...
  • Govt Spending Per Household Exceeded Median Household Income (and worker income) 3 Straight Years

    08/18/2014 6:12:35 AM PDT · by xzins · 22 replies
    CNS ^ | August 14, 2014 | Terence P. Jeffrey
    (CNSNews.com) - Combined federal, state and local government spending per household exceeded the median household income in 2009, 2010 and 2011, the three most-recent years for which full data is available, according to calculations made using numbers from the White House Office of Management and Budget and an historical online database of state and local finances recently established by the Census Bureau. In 2011, in current year dollars, total government spending in the United States was $6,115,429,668,000. That included $2,516,666,590,000 in net state and local government spending and $3,598,763,078,000 in net federal government spending. That year there were 121,084,000 households...
  • What Is the Price of Perfect Equality?

    08/17/2014 4:50:29 PM PDT · by 2ndDivisionVet · 31 replies
    The Atlantic ^ | August 17, 2014 | Shannon Chamberlain
    Some of the best analyses lie not in the field of economics, but in books like The Giverdystopian tales sitting on shelves marked Young Adult.Meryl Streep and Jeff Bridges in The Giver.The world is an increasingly unequal and unfair place, economists tell us. Every year, it becomes a little harder to picture what equal opportunity and egalitarianism even look like. As the rich attract capital like Jupiter attracts space debris and the poor fail to make any substantial gains, the gap between them comes to seem to us less surmountable, more of a force of nature than something for which...
  • Investment & Finance Thread (week Aug. 17 - Aug. 23 edition)

    08/17/2014 1:35:32 PM PDT · by expat_panama · 105 replies
    Weekly investment & finance thread ^ | Aug. 17, 2014 | Freeper Investors
    Alternate Title: UPTREND SPECIAL EDITION! That's right, last Thursday IBD announced that NASDAQ had its "follow-through-day" so investors in the driver's seat just saw the light turn green. That said, we also know that nobody walks across a one-way street without looking both ways, and even though the signs say 'buy' here's what they've been saying so far this year----and this is the problem we got driving down the road while only being able to look out the back window.Remember these market designations are not arbitrary, they're signals proven with decades of research. That said, we're still looking at a...
  • A black president couldnt stop the Ferguson race riots

    08/17/2014 1:31:39 PM PDT · by 2ndDivisionVet · 79 replies
    The London Telegraph ^ | August 17, 2014 | Dr. Tim Stanley
    Violence continues in Ferguson, Missouri. It began on August 9 with the death of Michael Brown, an unarmed African-American teenager cut down by a white cops bullets. Peaceful demonstrations turned into looting, the local police went in with rubber bullets and tear gas, all hell broke loose and, eventually, Missouris governor pulled out the local police and sent in state officers instead. But the rioting only paused; it didnt cease. And it may continue. Thats probably because its driven by a deep, deep anger that will take a long time to calm. Observers might ask, How can this be happening...
  • When Should the Family Business Throw Out the Family?

    08/14/2014 12:12:53 PM PDT · by BlatherNaut · 8 replies
    American Thinker ^ | 8/14/14 | Mike Johnson
    "Shirtsleeves to shirtsleeves in three generations." A typical paradigm for a family business; mom and pop start the business, their children successfully grow the business, and the greedy acrimonious grandchildren squabble amongst themselves and fritter away the business. The Demoulas family, of the Market Basket supermarket chain in Massachusetts, New Hampshire, and Maine, has added some new wrinkles. Looking at Market Basket from the outside, you will see a business with discernibly lower prices, an operation with noticeably better service, and a staff anxious to please. The workers are much better paid than the competition and their total compensation includes...
  • Euro zone economy grinds to halt even before Russia sanctions bite

    08/14/2014 5:23:22 AM PDT · by mac_truck · 1 replies
    Reuters ^ | Michelle Martin and Martin Santa8/14/2014
    Euro zone economic growth ground to a halt in the second quarter as Germany's economy shrank and France's stagnated. The zero growth reported by statistics agency Eurostat on Thursday was cause for alarm throughout the 18-nation region, which is already bracing for the impact of sanctions imposed on and by Russia over Ukraine. Germany, Europe's largest economy, contracted by 0.2 percent in the quarter, undercutting Bundesbank forecasts that gross domestic product would be unchanged. Foreign trade and investment were notable weak spots, the German Statistics Office said on Thursday. "Todays figures show that the upturn remains too weak to withstand...
  • Loss of mid-wage jobs hampers state's growth

    08/08/2014 9:11:14 AM PDT · by Pelham · 13 replies
    LA Times ^ | August 8, 2014 | Tiffany Hsu
    On the surface, California's job market is booming. The state has now recovered all the jobs lost during the recession, and done so at a faster pace than all but five states. The growth, though, belies a troubling imbalance. The fastest job creation has come in low-wage sectors, in which pay has declined. At the high end of the salary scale, a different dynamic has taken hold: rising pay and improving employment after rounds of consolidation. Most distressing, middle-wage workers are losing out on both counts. "People talk about it like an hourglass," said Tracey Grose, vice president of the...
  • Aide: Obama, Clinton relationship resilient

    08/13/2014 5:44:06 AM PDT · by Cincinatus' Wife · 7 replies
    The Hill ^ | August 13, 2014 | Justin Sink
    One of President Obamas top national security aides said Tuesday that the president did not take criticism from former Secretary of State Hillary Clinton over his handling of foreign policy personally. I think their relationship is very resilient, deputy national security adviser Ben Rhodes told CNN. Theyve been through so much together.
  • Japans economy shrinks as tax hike hits spending

    08/12/2014 10:26:58 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Aug 13, 2014 1:00 AM EDT | Yuri Kageyama
    The Japanese economy shrank at an annual pace of 6.8 percent in the second quarter after spending got slammed by a sales tax hike that kicked in from April, government figures showed Wednesday. Japans gross domestic product, or the total output of goods and services, also contracted 1.7 percent during the April-June period from the previous quarter. The decline in GDP was the worst since the March 2011 tsunami and quake disaster in northeastern Japan. In the first quarter of 2011, Japans economy shrank at an annual rate of 6.9 percent. The weak figures were expected as consumers and businesses...
  • UKRAINE: 12 August Results of the Day from Bad to Good

    08/12/2014 7:32:46 PM PDT · by UMCRevMom@aol.com · 8 replies
    Brothers and sisters, following 12 August. From Bad: 1. the Council in first reading adopted a bill that enacts the Institute sanctions according to the decision of the President and the NSC [National Security Council.] And all. The Council has thus exhausted - and finally the law was not accepted. As you know, sanctions (and their 29 varieties) should touch virtually all aspects of foreign and domestic policy. Among them is the cessation of mail, disabling television channels, closing all kinds of MEDIA, including the Internet, the ban on the use of radio frequencies, etc. In common sense such a...
  • Investment & Finance Thread (week Aug. 10 - Aug. 16 edition)

    08/10/2014 9:08:03 AM PDT · by expat_panama · 69 replies
    Weekly investment & finance thread ^ | Aug. 10, 2014 | Freeper Investors
    No matter how you look at it this is truly an amazing world we live in if everyone has more information than any time in recorded history and the only thing that's for sure is (like Sam Goldwyn said): "nobody knows nothing!" What we got is that 2014 started out great for gold and the blahs for stocks, then the other way around w/ stocks powering up, and now we're back w/ metals out-shining stocks again. In fact, right now the Russell 2000 (favoring small stocks) even shows the infamous 'death cross' w/ the 50 day moving average punching down...
  • Obamas Economy In Action! Data Shows Cash For Clunkers Was An Epic Debacle

    08/10/2014 2:43:53 AM PDT · by afraidfortherepublic · 36 replies
    The Daily Caller ^ | 8-10-14 | Eric Owens
    Cash for Clunkers, the 2009 Obama administration stimulus program designed to spend $2.85 billion to jumpstart the auto industry, turned out to be a complete disaster for the auto industry. In the minds of Obamas team of advisers and economists, the program made total sense, of course. The plan was to dangle a $4,500 credit to persuade car owners to trade in their older automobiles for new cars with better fuel efficiency. It would stimulate an economy then in the midst of a deep recession. As a bonus, it would mean less oil consumption and cleaner-running cars. The law...
  • De-Dollarization Accelerates - China/Russia Complete Currency Swap Agreement

    08/09/2014 5:24:13 PM PDT · by SkyPilot · 27 replies
    Zero Hedge ^ | 9 Aug 14 | Tyler Durden
    The last 3 months have seen Russia's "de-dollarization" plans accelerate. First Gazprom clients shift to Euros and Renminbi, then the UK signs currency swap agreements with China, then NATO ally Turkey cuts ties and mulls de-dollarization, Switzerland jumps in the currency swap agreements, and BRICS create their own non-US-based funding vehicle, and then finally this week, Russia's oligarchs have shifted cash holdings to Hong Kong. But this week, as RT reports, Russian and Chinese central banks have agreed a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US...
  • Americans worry that illegal migrants threaten way of life, economy (OBAMAdon'tCARE!!)

    08/07/2014 8:32:21 AM PDT · by NormsRevenge · 28 replies
    Yahoo! News ^ | 8/7/14 | Alistair Bell - Reuters
    KINGSTON New Hampshire (Reuters) - As President Barack Obama considers sidestepping Congress to loosen U.S. immigration policy, a Reuters/Ipsos poll shows Americans are deeply worried that illegal immigration is threatening the nation's culture and economy. Seventy percent of Americans - including 86 percent of Republicans - believe undocumented immigrants threaten traditional U.S. beliefs and customs, according to the poll. The findings suggest immigration could join Obamacare - the healthcare insurance overhaul - and the economy as hot button issues that encourage more Republicans to vote in November's congressional election. With Congress failing to agree on broad immigration reforms, Obama could...
  • Does Hosting the Olympics Actually Pay Off?

    08/07/2014 7:01:07 AM PDT · by SeekAndFind · 14 replies
    New York Times ^ | 08/07/2014 | BINYAMIN APPELBAUM
    <p>Brazil may have never wanted for places to play soccer, but that didnt stop the country from spending billions of dollars on stadiums for last months World Cup.</p> <p>The Arena Amazonia, a $300 million edifice designed to look like a woven basket, was built in a rain-forest city where the professional team regularly draws fewer than 2,000 fans per game. And Brazil is only getting started.</p>
  • Nestl To Relocate Chatsworth Hot Pockets Facility To Kentucky

    08/06/2014 3:03:23 PM PDT · by BenLurkin · 80 replies
    CBSLA.com) ^ | August 6, 2014 8:31 AM | Margaret Carrero
    CHATSWORTH (CBSLA.com) Hundreds of Angelenos could soon be out of work after Nestl USA announced it will relocate a Hot Pockets facility in Chatsworth back east. KNX 1070s Margaret Carrero reports the 184,000-square-foot production facility in the 9600 block of Canoga Avenue has been making the popular snacks since 1988 The Glendale-based Nestl USA will move the Chatsworth operation to another facility in Mount Sterling, Kentucky, where the company will invest $13 million and hire 150 new employees locally as the operation converts to a round-the-clock schedule, officials announced. Approximately 360 employees will be impacted by the closure, but...
  • Luck and a Little Mystery: The Economy Grows Faster Under Democratic Presidents

    08/06/2014 12:33:05 PM PDT · by SeekAndFind · 42 replies
    New York Times ^ | 08/06/2014 | Jared Bernstein
    Though I typically resist, my wife often tries to get me to put down the laptop and enjoy the Zen of gardening with her. So you can imagine her surprise when she returned from a trip to find a beautiful clump of nonwild flowers planted in her garden. She loved the welcome-home gift and was ready to bestow upon me many valuable (and increasingly elusive) good-husband points. The thing is, I have no idea how those flowers got there. And like George Washington, I could not tell a lie. But had I in fact been an actual president, I probably...
  • MSNBC: Total disconnect between Obamas rhetoric on economy and reality for voters

    08/06/2014 12:23:58 PM PDT · by SeekAndFind · 19 replies
    Hotair ^ | 08/06/2014 | Ed Morrissey
    Worth a watch, especially on this particular network even though Morning Joe offers much more reality than most of the rest of MSNBCs schedule. Todays reminder of reality comes from Wall Street Journals White House correspondent Carol Lee, who points out that the sunny rhetoric from Barack Obama and his administration has a total disconnect to the reality for most Americans, as seen in the latest NBC/WSJ poll. Time for another pivot? CLICK ABOVE LINK FOR THE VIDEO The President was campaigning, raising money in California a few weeks ago, Lee notes, and he was saying, People feel better than...
  • A Governors Dilemma: Illegal Immigrants Divert Resources From States Own Citizens (OK)

    08/06/2014 11:48:29 AM PDT · by Tennessee Nana · 15 replies
    TheDailySignalBlog ^ | August 5, 2014 | Gov Mary Fallin
    On June 13, the first bus of illegal immigrant minors, aged 12-17, arrived at Fort Sill, Oklahoma. The state of Oklahoma was given no formal notice, and no chance to object. After weeks of bad publicity, public outrage and political pressure, the Obama administration announced this week that the facility will close by Friday, Aug. 8. Thats good news for the people of Oklahoma and the men and women of Fort Sill, who will once again have the full use of their military base for the purpose it was designed for: housing and training soldiers. What the facilitys closure does...