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Keyword: economy

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  • Listen & Learn: Mark Levin on the "Fiscal Cliff" (11/26/12)

    11/27/2012 11:26:15 AM PST · by EricTheRed_VocalMinority · 4 replies
    Vocal Minority via Mark Levin ^ | 11/27/12 | EricTheRed
    It's been a long time since I've done one of these but when I heard the Great One last night, I just had to spend some time getting this one out. Here's practically his whole first hour -- edited down to 30 min after cutting commercials, bumper music, long pauses, and any other extraneous content. It addresses the "fiscal cliff" and Mark attacks both Democrats for politicizing it and weak-kneed RINO Republicans for playing along. At risk of spoiling it for you: He thinks we should go over the fiscal cliff. Better that in the short term than the crisis...
  • More Democrats Willing to Go Over 'Fiscal Cliff'

    11/27/2012 8:10:26 AM PST · by bestintxas · 158 replies
    newsmax ^ | 11/27/12 | j feller
    A growing number of Democrats say they are willing to let the country go off the fiscal cliff if a deal cannot be reached by Jan. 1 that raises taxes on the top two percent of earners while protecting costly entitlement programs. Their theory in this game of chicken with Republicans is that it will be easier in January to lower taxes for 98 percent of the country while finding the best possible parts of the federal budget to cut — in line with long-held goals of the nation's liberal party. They also think they'll be in a better position...
  • Why Democrats Can't Grow An Economy... (pic)

    11/26/2012 10:12:56 AM PST · by The Looking Spoon · 8 replies
    The Looking Spoon ^ | 11-26-12 | The Looking Spoon
  • Stock Market Last Push Higher Before the Big Collapse?

    11/25/2012 2:50:26 PM PST · by blam · 17 replies
    TMO ^ | 11-25-2012 | Graham Summers
    Stock Market Last Push Higher Before the Big Collapse? Stock-Markets / Financial CrashNov 25, 2012 - 01:59 PM By: Graham Summers With most of Wall Street on vacation, those few traders manning their desks are taking advantage of the low volume to push the market sharply higher. This, combined with a large move up by the Euro has pulled the entire risk trade up forcing the US Dollar lower. This move was to be expected on some levels. Since 2002, there has been a rally from just before Thanksgiving until the second week of December. This year is shaping up...
  • KRUGMAN: This Is The Chart That Debunks What Everyone Says About The National Debt

    11/25/2012 2:35:18 PM PST · by blam · 46 replies
    TBI ^ | Joe Weisenthal
    KRUGMAN: This Is The Chart That Debunks What Everyone Says About The National Debt Joe WeisenthalNov. 25, 2012, 11:05 AMPaul Krugman posts a simple chart that makes a profound point. It compares the yield on UK debt vs. US debt. What should stand out for you, instantly, is that the two countries borrow at virtually identical rates, and have for years. What this should show to people is that much of the popular stories that people tell about sovereign debt is a myth. Countries that borrow in their own currencies and can "print" at will don't have default risk, so...
  • Retailers Blame Drop In Black Friday Sales On Black Thursday

    11/25/2012 11:18:15 AM PST · by Zakeet · 41 replies
    Zero Hedge ^ | November 25, 2012
    <p>With all bad news on the tape now having a suitable "explanation", be it a prior president, a tropical storm, the weather being too hot, the weather being too cold, the weather being just right, but never, ever someone actually taking blame for the fact that life is what happens when corporate CEOs (and sovereign presidents) are busy making "priced to perfection" plans. So it is with what is now a confirmed flop of a Black Friday, which according to ShopperTrak saw sales drop by nearly 2% to $11.2 from 2011, which in turn was a 6.6% gain over 2010 (and would be revised to far lower once all the refunds and exchanges to cash took place in the two weeks later). This occurred despite a 3.5% increase in retail foot traffic to 307.7 million store visits. The nominal drop in retail sales also occurred despite a nearly 1% increase in the total US population over last Thanksgiving, and a 2% Y/Y inflation. But fear not: the ad hoc excuse for this "surprising" loss in purchasing power is already handy: it is all Black Thursday's fault, or the latest idiotic attempt by retailers to cannibalize their own future sales by diluting the exclusivity of Black Friday, and which will force all retailers to follow the sovereigns in a race to the bottom, as soon every day will be the equivalent of Black Friday. But at least retailers have another 364 years worth of excuses for the conceivable future to excuse any and all store weakness. Next year: it's all Black Wednesday's fault.</p>
  • Multigenerational Homes: Real Estate's Next Big Thing as More Families Share a Space

    11/25/2012 10:04:18 AM PST · by 2ndDivisionVet · 53 replies
    AOL Real Estate ^ | November 16, 2012 | Krisanne Alcantara
    Being roommates with your parents after age 21 sounds like a nightmare for most, but Jessica Bruno wouldn't have it any other way. Bruno, a 40-year-old mom, wife and DIY blogger, lives with her 62-year-old parents, Connie and Fred, in their Sutton, Mass., home. Oh, and there's Bruno's husband, Tony, and their 6-year-old son, Tony Jr. Think that's a lot of people under one roof? There's more. Bruno's grandparents, Grace, 80, and Fred, 82, live in the house, too. That's seven people from four generations living together in one home. Actually, make that nine: Bruno's two stepdaughters, 12-year-old twins Alexia...
  • For Richer or Poorer

    11/24/2012 12:44:08 PM PST · by eagleye85 · 4 replies
    Eagleye Blog ^ | November 24, 2012 | Bethany Stotts
    As the lack of opportunity in America becomes less of an issue of race and more of perpetual class separation, liberal reporters and academics continue to propose the same recycled, progressive policies which have little hope of solving the marriage problem but will undoubtedly bloat federal and state governments. For example, in a New York Times article printed this summer, Jason DeParle cast the growing trend of lower-class single mothers as one of class conflict. “Estimates vary widely, but scholars have said that changes in marriage patterns — as opposed to changes in individual earnings — may account for as...
  • FABER: 44 Charts That Show Why The World Is Doomed

    11/24/2012 6:46:04 AM PST · by daniel1212 · 22 replies
    Business Insider, Inc. ^ | Nov. 23, 2012 | Sam Ro
    Marc Faber, publisher of the Gloom Boom & Doom Report, is well known for his ultra-bearish commentary. But he's not without reason. In a new presentation given in Hong Kong to the London Bullion Market Association, Faber offers a thick stack of 44 charts that makes him very bearish on the global economy (via ZeroHedge). They include overviews of the emerging and evolving trends on debt, trade, stocks and commodities. Faber points to the explosion of public and private debt and how they have been far outpacing GDP growth for the last 50 years. In this backdrop, the wealth gap...
  • Greed, Lack of Transparency Caused Financial Crisis, Says Greenberger

    11/23/2012 2:28:04 PM PST · by ex-Texan · 90 replies
    The Epoc Times ^ | 11/15/ 2012 | Gary Feuerberg
    Bad mortgage loans, obscured through complex and unregulated investment instruments, cost taxpayers billions WASHINGTON—The U.S. economy is slowly making a recovering from a near-collapse and the worst recession since the Great Depression. But what brought on the subprime mortgage crisis that led to huge financial losses, a decline in wealth for much of the country, a GDP drop of 5 percent for the period from Dec. 2007 to June 2009, and an official unemployment rate that peaked at 10.0 percent in Oct. 2009? “Very few people understand [what happened],” said University of Maryland Professor Michael Greenberger at the Center for...
  • Building Sustainable Skyscrapers from Laminated Veneer Lumber

    11/23/2012 1:13:18 PM PST · by 2ndDivisionVet · 42 replies
    Utne Reader / Conservation ^ | The November/December 2012 Issue | Sarah DeWeerdt
    Some architects believe that in order to build the sustainable cities of the future, we need to look back to the log cabin era and build “skyscrapers” out of wood. Just over a century ago, the architects and engineers who invented the skyscraper set us on the path to becoming an urban world. Tall buildings of concrete and steel helped make urban density—and the increased sustainability that comes with it—possible. But the buildings themselves come at a heavy, and often hidden, environmental price. Concrete and steel are some of the most energy-intensive materials on the planet. The manufacture and transport...
  • Underemployment exceptionally high for young adults

    11/21/2012 9:33:52 PM PST · by 2ndDivisionVet · 25 replies
    The New Hampshire ^ | November 20, 2012 | Rachel Follender
    UNH seniors began registering for their spring classes on Monday, creating what for most of these students will be the final schedule of their college careers. As Thanksgiving break plunges us into winter, the new year is only weeks away. And with graduation rearing around the corner, members of the class of 2013 are beginning to ask, “What now?” For Katie Sousa, a senior English major, life after graduation means returning to a part-time cashier position at Market Basket. “I’ve been there for five years and I plan to go back there until I find something better,” she said. According...
  • 10 people who led us to the ‘fiscal cliff’

    11/21/2012 10:50:23 AM PST · by Ernest_at_the_Beach · 57 replies
    Marketwatch ^ | Nov. 21, 2012, 12:55 p.m. EST | Rex Nutting
    Commentary: From Laffer to Obama, they fed our greed and guiltWASHINGTON (MarketWatch) — With our political leaders locked in a fiscal struggle that threatens to throw the economy off a so-called cliff and into recession, you might be wondering how we got to this place. Remember that this supposed fiscal cliff is the direct result of two contradictory impulses in American life: Greed and guilt. Greed for low taxes, a strong military, a strong safety net and lots of government spending for everyone. And guilt that we weren’t paying our way. Read “Stop calling it a ‘fiscal cliff’” All of...
  • Retail's Hidden Potential: How Raising Wages Would Benefit Workers <abridged>

    11/20/2012 9:52:05 PM PST · by mykroar · 29 replies
    Demos.org ^ | 11/19/2012 | Catherine Ruetschlin
    With more than 15 million workers in in the sector, and leverage over workplace standards across the supply chain, retail wields enormous influence on Americans’ standard of living and the nation’s economic outlook. It connects producers and consumers, workers and jobs, and local social and economic development to the larger US economy. And over the next decade, retail will be the second largest source of new jobs in the United States. Given the vital role retail plays in our economy, the question of whether employees in the sector are compensated at a level that promotes American prosperity is of national...
  • Now that the Election Is Over, the Washington Post Admits that the Obama Recovery Has Been Terrible

    11/20/2012 6:40:05 AM PST · by Kaslin · 25 replies
    Townhall.com ^ | November 20, 2012 | Daniel J. Mitchell
    I agree that Obama inherited a crappy economy, and I think it is silly to assert that he bears any responsibility for the severity of the 2007-2009 recession. But it is very fair to hold him responsible for what’s happened since the recession ended. I’ve cited data from the Minneapolis Federal Reserve on both employment and gross domestic product to show that Obama has presided over the weakest recovery in the post-World War II period.And I think it is fair to blame Obama for the economy’s anemic performance during that time, largely because his agenda of faux stimulus and Obamacare...
  • Merillat closing Smyth County (VA)cabinet plants

    11/20/2012 3:39:50 PM PST · by Perseverando · 11 replies
    WSLS TV 10 ^ | November 20, 2012 | Associated Press | WSLS-TV 10
    <p>ATKINS, Va. (AP) - Cabinet maker Merillat is laying off 280 employees at two manufacturing plants in southwest Virginia.</p> <p>Officials for parent company Masco Cabinetry confirmed on Tuesday that it plans to close two facilities that make doors and panels for cabinets in Atkins in mid-January.</p>
  • North Shore Mining to lay off about 125 employees (North Dakota, plus 500 in Michigan)

    11/20/2012 2:42:13 PM PST · by 2ndDivisionVet · 12 replies
    The Jamestown Sun ^ | November 20, 2012 | Peter Passi
    About 125 employees of North Shore Mining will be laid off Jan. 5 when the taconite operation idles two of its four pelletizing lines, according to an announcement issued Monday by the mine’s owner and operator, Cliffs Natural Resources. The pending layoffs will affect people working at North Shore’s mine in Babbitt in addition to those working at the production facility in Silver Bay, but the exact breakdown of how many jobs will be trimmed at each location has not yet been determined, according to Sandra Karnowski, Cliffs’ district manager of public affairs. North Shore Mining currently plans to operate...
  • Time for root canal therapy (For economy to survive, America must adopt short-term pain)

    11/20/2012 1:53:08 PM PST · by SeekAndFind · 16 replies
    Asia Times ^ | 11/20/2012 | Martin Hutchinson
    The next four years are likely to be unpleasant. There are already several crises heading towards us, and in the fiscal, monetary, regulatory and general economic areas the Barack Obama administration's policy is likely to be counterproductive. In these circumstances, there's only one sound course of action for the Republican congressional majority: they must abandon all their natural politicians' preference for avoiding short-term pain and adopt a root-canal approach, welcoming short-term economic pain for the sake of preserving the US economy intact for better times ahead. For the past four years, Obama's trillion-dollar deficits and Federal Reserve chairman Ben Bernanke's...
  • The Best Solution

    11/20/2012 6:03:31 AM PST · by Kaslin · 6 replies
    Townhall.com ^ | November 20, 2012 | Tim Phillips
    During last Wednesday’s news conference, President Obama offered his plan for dealing with the looming fiscal cliff and expiring tax cuts. While the President claims he desires to work with Congress to reduce the deficit in a balanced and responsible way, he was clear that he intends to hold the middle class hostage in order to achieve his goal of increasing taxes on more successful Americans. How is the President doing this? By announcing that Congress must either bow to his agenda or send all Americans a higher tax bill. While Obama was busily pushing his ultimatum, he seems...
  • Measure N: Voters Approve $13 Wage And Benefits For Long Beach Hotel Workers

    11/19/2012 10:07:51 PM PST · by 2ndDivisionVet · 26 replies
    The Long Beach Business Journal ^ | November 20, 2012 | Joshua H. Silavent
    Long Beach voters took to the polls on Election Day and overwhelmingly cast their support for a living wage (or minimum wage, depending on choice of terminology) of $13 per hour for workers in the city’s largest hotels. The earliest the law would likely take effect is December 21. “In terms of what message voters sent . . . it affirms that the City of Long Beach was ready to really look at how quality of life issues matter, regardless of what level of employment or which sector you work in,” Councilmember Suja Lowenthal told the Business Journal. As of...
  • Orlando Health to cut record number of jobs to save money (Up to 400 positions)

    11/19/2012 1:42:28 PM PST · by 2ndDivisionVet · 8 replies
    The Orlando Sentinel ^ | November 19, 2012 | Marni Jameson
    For the first time in its nearly 100-year history, Orlando Health is reducing its workforce by up to 400 positions starting immediately, hospital officials announced this morning. The elimination of 300 to 400 jobs will occur in two phases, and represents a 2- to 3-percent decrease in the system's 16,000 employees, said Orlando Health spokeswoman Kena Lewis. The reductions affect all departments and all eight of its hospitals, including Orlando Regional Medical Center and Arnold Palmer Hospital for Children. The first wave of employees affected by the "labor expense reduction" portion of the initiative received their notices Friday, said Lewis....
  • GE Healthcare Laying Off 10 Percent of Workforce

    11/19/2012 12:01:10 PM PST · by 2ndDivisionVet · 19 replies
    Health Tech Zone ^ | November 19, 2012 | Tracey E. Schelmetic
    Bad news for GE Healthcare workers in Vermont. The company, which specializes in information technology for the healthcare industry, announced last Thursday that it plans to lay off about 10 percent of its workforce in the state. The company promised, however, to try to find “alternate roles” for those who lose their jobs. “While GE Healthcare regrets the loss of any jobs, the business needs to make tough decisions in the current economic climate,” company spokesman Benjamin Fox told the Barre Montpelier Times Argus. It’s unclear at this time how much of GE Healthcare’s workforce these cuts represent, though the...
  • Check Out Maria Bartiromo's Super Bearish Column On The Fiscal Cliff

    11/19/2012 10:57:57 AM PST · by blam · 16 replies
    TBI ^ | 11-19-2012 | Linette Lopez
    Check Out Maria Bartiromo's Super Bearish Column On The Fiscal Cliff Linette LopezNovember 19, 2012CNBC This morning Politico's Ben White wrote that the fiscal cliff is basically over. Closing Bell's Maria Bartiromo couldn't disagree with him more. She wrote a super bearish column on the issue for CNBC, and to her, words like "panic stricken" are definitely in order. From the column: The Mayans may not be right about the world ending by the end of 2012, but the next month and a half is looking a lot more panic-stricken than celebratory. The ongoing fight over the "fiscal cliff" may...
  • Mexican Company and Twinkies: Bimbo Bear Searching for Cream Filling? (VIDEO)

    11/18/2012 4:27:01 PM PST · by 2ndDivisionVet · 28 replies
    The Christian Post ^ | November 18, 2012 | Brittney R. Villalva
    The Hostess brand is heading to the auction block, following an announcement that the company would be shutting down. But that may not mean an end to Twinkies. A Mexican company called Bimbo, which is credited as being the largest bread maker in the world, may have plans to buy the brand. Grupo Bimbo is no stranger to acquiring foreign companies. With other baking goods companies like Mrs. Baird's Bakeries and Sara Lee already under his belt, Daniel Servitje who runs Bimbo, has already shown interest in Hostess in the past. The Bimbo company attempted a deal in 2007 during...
  • FHA helps rebound buyers get back in homes

    11/18/2012 10:05:57 AM PST · by 2ndDivisionVet · 21 replies
    The Press of Atlantic City ^ | November 18, 2012 | Alejandro Lazo and Walter Hamilton
    After two foreclosures and two bankruptcies, Hermes Maldonado is as surprised as anyone that he's getting a third shot at homeownership. The 61-year-old machine operator at a plastics factory bought a $170,000 house in Moreno Valley, Calif., this summer that boasts laminate-wood floors and squeaky clean appliances. He got the four-bedroom, two-story house despite a pockmarked credit history. The last time he owned a home, Maldonado refinanced four times and took on a second mortgage. He put a Cadillac and Mercedes-Benz C300W in the driveway and racked up about $45,000 in credit card bills and other debts. His debt-fueled lifestyle...
  • Kaiser Permanente to layoff 530 employees in Southern California

    11/17/2012 1:37:35 PM PST · by 2ndDivisionVet · 22 replies
    KFMB-TV ^ | November 17, 2012
    One of the nation's largest HMOs is laying off 530 employees in Southern California this weekend, including some in San Diego County, a company official confirmed Saturday. Kaiser Permanente said the layoffs -- constituting about eight-tenths of one percent of it employees -- would be spread across its 65,700 employees and doctors working in offices and hospitals from Kern County to the Mexican border. Under its union contracts, the laid-off employees who are in unions will get income and benefits for a year. many may also be rehired next year, when Kaiser Permanente expects "significant membership growth" next year. "Health...
  • Twinkie Tribute

    11/17/2012 7:57:46 AM PST · by Alex Baker · 20 replies
    RealityBatsLast ^ | November 16, 2012 | Jess Jones
    I hope you all have a moment for a laugh - and a cry. This article is funny and at the same time very sad as an indicator of the future of business as unions and taxes prepare to run wild. The post is an exerpt - but you must look at the three videos posted at "Reality" in tribute to the lost 18,000 jobs in america... Our perception of the insidious slide from freedom to tyranny powered by a democratic system which ignores constitutional limits can best be described as that of a slowly boiling frog. It is important...
  • The Smartest Investment Of The Decade (The Era Of Cheap Food Is Over)

    11/17/2012 7:24:39 AM PST · by blam · 15 replies
    Sovereign Man ^ | 11-17-2012 | Simon Black
    The Smartest Investment Of The Decade by Simon Blackon November 12, 2012 Here’s something crazy to think about. Roughly 200,000 people were born today. That’s net world population growth, births minus deaths. Each one of them constitutes a new mouth to feed. And when they come of age, those 200,000 people will consume, conservatively, about 1,250 Calories per day. Collectively, that’s 91.25 billion Calories per year for the entire 200,000 people that were born today. Where will they get that food from? Consider that a cup of rice contains about 300 Calories. An average annual rice harvest yields about 150...
  • Obama's Economy: What We've Learned Since Re-election

    11/17/2012 4:06:27 AM PST · by IBD editorial writer · 29 replies
    Investor's Business Daily ^ | 11/16/2012 | IBD Staff
    Obama II: In the "now they tell us" file, add a vast array of reports that have come out since the election showing just how weak the economy really is. Looks like the president will need a new scapegoat soon. Here's just a sampling of what we've learned since voters decided to give Obama four more years to "experiment" with the economy.
  • United Technologies laying off 500 workers, including 4 in Charlotte area

    11/16/2012 11:18:38 PM PST · by 2ndDivisionVet · 3 replies
    The Charlotte Observer ^ | November 16, 2012 | Kerry Singe
    United Technologies Corp. announced Friday it is laying off 500 salaried and hourly employees worldwide – including some in the Charlotte area – between now and the end of the year. The multinational manufacturing and transportation company, which acquired Charlotte-based Goodrich Corp. this past summer, said it is laying off three workers at its Monroe plant and one in its Charlotte aerospace division headquarters. The company started telling workers Friday, company spokesman Dan Coulom said. The company will continue to notify affected workers through December, Coulom said. He was not aware of additional layoffs planned for the Charlotte area, he...
  • The Importance of a College Degree

    11/16/2012 4:53:26 PM PST · by a5478 · 38 replies
    Schiff Radio-Youtube.com ^ | 11/18/2012 | Schiff Report
    President Obama promotes the myth that everyone must go to college. That if you don't go, your life will be ruined -- that you will end up waiting tables, or trapped in some other mundane occupation. The truth is, even with a college degree, you may still end up waiting tables, you'll just begin your "career" four or five years later, tens of thousands of dollars in debt. Here is an example of some of the plumb jobs college grads were able to land during the Obama administration. Not just liberal arts majors mind you, but graduates with degrees in...
  • Does President Obama Want the Clinton-Era Tax Rates? No.

    11/16/2012 12:59:45 PM PST · by 92nina · 3 replies
    ATR ^ | 2012-11-14 | Mattie Duppler
    [Wednes]day, the President held his first press conference since being elected to a second term. President Obama was given the opportunity to come clean on the size of the tax hike he wants on small business employers when MSNBC White House Correspondent Chuck Todd asked him: “Are you -- is there no deal at the end of the year if tax rates for the top 2 percent aren't the Clinton tax rates, period, no if, ands or buts? Any room in negotiating on that specific aspect of the fiscal cliff?” The President has repeatedly argued that he wants “to go...
  • The Demise Of The Twinkie: Hostess Files Motion To Liquidate

    11/16/2012 5:13:37 AM PST · by Sub-Driver · 300 replies
    The Demise Of The Twinkie: Hostess Files Motion To Liquidate By Tom Gara And that’s that: Hostess Brands, maker of Twinkies, Wonder Bread and more, announced this morning it has filed a motion with bankruptcy court to start liquidating the company immediately. A huge number of jobs are soon to be lost. “Hostess Brands will move promptly to lay off most of its 18,500-member workforce,” said CEO Gregory F. Rayburn in the statement, “and focus on selling its assets to the highest bidders.” In a letter posted on a new site set up to communicate with employees and suppliers through...
  • Another Four Years of Failed Obama Economy

    11/16/2012 9:43:03 AM PST · by OneVike · 11 replies
    NewsBlaze ^ | 11/16/12 | Nurit Greenger
    You voted for it, this is what you are going to live with and you have dragged the rest of the nation with you!For edification, Marxism is the political and economic theories of Karl Marx and Friedrich Engels, later developed as the basis for communism. In this social format, the takers win, the government and its cronies, those who control the masses win.Obama's America is heading toward economics, dictated from above, redistribution and allocation of wealth and resources according to the decisions of a committee of the elite with unified and tyrannical concepts, its members know better than anyone...
  • Why Financial Repression Will Fail

    11/16/2012 9:25:50 AM PST · by arthurus
    Seeking Alpha ^ | November 15, 201 | Ron Hera
    Measures that began as emergency interventions became routine, suggesting a new economic paradigm. In the new paradigm, big banks, politicians and academics would decide what market outcomes, e.g., bankruptcies, interest rates or bond yields, would be permitted, as well as when to apply accounting rules, regulations and laws. Despite increased centralization of decision making and greatly expanded powers, however, policymakers were unable to repair the financial system. Instead, mounting government debt led to de facto financial repression. Financial repression occurs when governments channel funds into their own sovereign bonds ...
  • Leaders call fiscal-cliff talks 'constructive'

    11/16/2012 9:10:03 AM PST · by illiac · 16 replies
    MarketWtach ^ | 11/16/12 | Robert Schroeder
    WASHINGTON (MarketWatch) -- Congressional leaders emerging from a White House meeting to avert the fiscal cliff labeled the discussions "constructive." House Minority Leader Nancy Pelosi said they should have a goal to avert the cliff by Christmas, while Senate Minority Leader Mitch McConnell and House Speaker John Boehner both said Republicans were willing to put revenue on the table to reach a deal.
  • Our National Malinvestment In President Obama Will Bring Painful Consequences

    11/16/2012 8:59:15 AM PST · by SeekAndFind · 3 replies
    Forbes ^ | 11/16/2012 | Mark Spitznagel
    The choice for the status quo made in last week’s presidential election was an uninformed one—at no fault of the voters—made in the fog of monetary distortion and Federal Reserve Chairman Ben Bernanke’s continuous campaign of disinformation. President Barack Obama managed to overtake Republican challenger Mitt Romney on the exit poll question “Who is better for the economy?” and a strong majority of Obama voters felt that the economy is better off than four years ago. Indeed, anyone (particularly Bernanke) would concede that without the Fed’s zero interest rate policy we would be experiencing a far worse economy—the true Obama-Keynesian...
  • Obama RX: Bleeding an Anemic Economy with Tax Increases

    11/16/2012 8:33:59 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | November 16, 2012 | Donald Lambro
    WASHINGTON - If you thought the presidential election would lead to an early break in the fiscal gridlock that now divides our government, think again. President Obama's post-election press conference on Wednesday signaled he is digging in for a lengthy political battle to raise tax rates amid new evidence the economy is still very weak and will likely remain so for the foreseeable future if not throughout his second term. If anything, he's taking a tougher tone with Republicans in Congress as he prepares for negotiations with House Speaker John Boehner and other House and Senate leaders on Friday. Despite...
  • Best Foot Forward?

    11/16/2012 7:00:13 AM PST · by Kaslin · 5 replies
    Townhall.com ^ | November 16, 2012 | Mona Charen
    Our large cruise ship sailed within view of Guantanamo Bay, Cuba, as a gathering of conservatives sponsored by National Review magazine considered the wreckage of the 2012 election. Most of the writers and commentators on board agreed with Ralph Reed of the Faith and Freedom Coalition that the last thing conservatives need to do now is to form a "circular firing squad." But lessons must be learned. Was Mitt Romney, as some suggested, "our best foot forward" -- a highly intelligent, photogenic, generous, public-spirited, articulate man of great integrity whose loss can only be chalked up to the poor judgment...
  • Daily Job Cuts.com

    11/16/2012 6:23:30 AM PST · by Pride_of_the_Bluegrass · 7 replies
    Daily Job Cuts ^ | Web Blog
    A web site posting daily plant closures, layoffs, and Bank Failures. Good reference site
  • Xerox will lay off 2,500 employees

    11/15/2012 8:45:32 PM PST · by knak · 26 replies
    WXXI news ^ | 11/14/12 | crichton
    Xerox announced today they will lay off 2,500 workers world wide. This comes as a result of the company taking a $100 million charge to enable restructuring in the fourth quarter. The majority of cuts will be in the service side of the Xerox business, despite a growth in this section for the company. Services now account for more than half of Xerox's revenue. Employment in Rochester is primarily centered on the technology side of the business, or the company's legacy side, Xeroc officials say. No details have been released on the impact of any reductions in the Rochester area.
  • There's A Lot More To The Stock Market Sell-Off Than The Fiscal Cliff

    11/16/2012 3:48:00 AM PST · by blam · 21 replies
    TBI ^ | 11-16-2012 | Comstock Partners
    There's A Lot More To The Stock Market Sell-Off Than The Fiscal Cliff Comstock PartnersNovember 16, 2012 While the fiscal cliff problem has absorbed almost all of the financial media comment since the election, there's a lot more to the stock market decline that has virtually gotten lost in the discussion. The market actually topped on September 14th and has trended down ever since. Most importantly, the U.S. economy was a lot weaker than the consensus believes before Hurricane Sandy became a factor. In addition Fed policy is becoming increasingly ineffectual, earnings forecasts are coming down, Europe is officially in...
  • Obama’s war on energy is a war on jobs: Natural gas gives the economy much-needed boost

    11/15/2012 10:30:33 PM PST · by 2ndDivisionVet · 2 replies
    The Washington Times ^ | November 15, 2012 | William C. Triplett II
    Three hours west of Washington, D.C., U.S. Route 50 emerges from the West Virginia forest in a gentle curve. On the south side of the highway rises an enormous natural gas drilling rig. To its left and slightly behind it is a gas separation plant under construction. This is the “wet gas” portion of the Marcellus shale-gas play that underlies Appalachia. The separation plant will divide the wet gas into propane, pentane, butane and the like. In front of the rig and closest to the highway is a kind of filling station with color-coded fittings instead of hoses on the...
  • Blue collar comeback: Part two

    11/15/2012 8:58:52 PM PST · by count-your-change · 16 replies
    WLFI ,COM 18 ^ | 11/15/2012 | Krista Henery
    President and CEO of Greater Lafayette Commerce Joe Seaman said there is a sea of manufacturing opportunities in this region of Indiana. However, with the opportunities there comes what employers call a major 'skills gap.' "The biggest challenge we've had is finding the skilled labor to fill those jobs," Seaman said...... One of the solutions to this problem has been a collaborative effort between the city of Lafayette, Tippecanoe County, WorkOne, dozens of manufacturers and Ivy Tech.
  • Florida restaurant owner to add an ObamaCare “surcharge”

    11/15/2012 5:47:59 PM PST · by 2ndDivisionVet · 5 replies
    Hot Air ^ | November 15, 2012 | Erika Johnsen
    Just telling it like it is — I like his style. Per Politico: John Metz, a restaurant franchisor who operates 48 locations of Hurricane Grill & Wings, several dozen Denny’s locations and a few Dairy Queens, told The Huffington Post Thursday that he’d join the growing list of restaurateurs piling purported Obamacare costs onto their customers and staff. In his case, though, he’s going to label it so all of his customers know about it. “If I leave the prices the same, but say on the menu that there is a 5 percent surcharge for Obamacare, customers have two choices....
  • Experts Warning of Coming Crisis: a Shortage of Drivers.

    11/15/2012 5:00:49 PM PST · by 2ndDivisionVet · 48 replies
    Truckers America ^ | November 14, 2012
    Experts are warning of a coming crisis: a shortage of truck drivers. The Associated Press reports demand is so high that more than 100,000 trucking jobs are expected to go unfilled each year through 2016. Mohammed Khan, the Director of the Great American Truck Driving School in Detroit told WWJ’s Sandra McNeil he’s seen a 50-percent jump in enrollment at his school since 2010. “People do want to become truck drivers. The fact is that the demand just ups the supply right now,” said Khan. ”There are a lot of truck driving jobs that are wanting because they just can’t...
  • Banks told by Fed to test for 12% unemployment

    11/15/2012 3:47:54 PM PST · by Obadiah · 30 replies
    Market Watch ^ | 11/15/2012 | Ronald D. Orol
    The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%. The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times.
  • Reuters Opinion: When did America get so pessimistic?

    11/15/2012 2:41:46 PM PST · by SeekAndFind · 39 replies
    Reuters Opinion ^ | 11/15/2012 | Zachary Karabell
    Barely had the counting ceased in last week’s presidential election when the news took a somber turn. Two of the next day’s headlines read “Back to Work, Looming Fiscal Crisis Greets Obama” and my favorite, “America has Sown the Seeds of Its Own Demise.” Politicians either celebrated or decried the results, but regardless of party affiliation most warned of formidable challenges and a perilous future. How did it come to pass that even the resolution of a contested election brings almost zero relief from the relentless focus on problems and threats? How did a country that for much of its...
  • ITW Consumer warns of 73 layoffs in Riviera Beach (Florida)

    11/15/2012 2:34:40 PM PST · by 2ndDivisionVet · 2 replies
    South Florida Business Journal ^ | November 15, 2012 | Shaun Bevan
    ITW Consumer has warned the state of Florida of 73 layoffs and the closure of their Riviera Beach facility earlier this year. Illinois Tool Works, ITW's parent company, announced a change in strategies and its decision to phase out operations in Florida earlier this year, according to the Worker Adjustment & Retraining Notification notice filed with the state on Wednesday. ITW's functions will be relocated to Ohio and Connecticut. The company stated that it plans to cease ITW Consumer operations by the end of February. The first run of separations were effective at the end of August and October. Additional...
  • The Reality of Economic Decline Surfaces After Obama's Reelection

    11/15/2012 1:31:29 PM PST · by whitedog57 · 9 replies
    Confounded Interest ^ | 11/15/2012 | Anthony B. Sanders
    Initial jobless claims rose to 439,000, their highest level since May 2011. And no, it isn't due to SuperStorm Sandy. Rather, it was increases in Ohio and Pennsylvania that led the surge. Continuing jobless claims spiked as well, their highest point since March 2012. Meanwhile, the Empire State Manufacturing Survey of General Businesss Conditions improved from -6.16 in October to -5.22 in November. The Philadelphia Fed Business Outlook of General Conditions fell to -10.7 from an October reading of +5.7. Meanwhile, The Dow Jones Industrials continue their post election slide. Oogh!