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Keyword: economy

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  • Why your paycheck's getting smaller, no matter what: There may be no escaping higher taxes come Jan.

    12/31/2012 12:40:50 PM PST · by 2ndDivisionVet · 17 replies
    CNN Money ^ | December 30, 2012 | Emily Jane Fox
    President Obama is trying to push through legislation to keep broader middle class income taxes from rising by Monday night. But they may still have to pay at least 2% more in payroll taxes. That's because the government had temporarily lowered the payroll tax rate in 2011 to 4.2% from 6.2%, in an effort to keep more cash in the pockets of Americans and provide a boost to the economy. The tax cut, which applies on the first $113,700 in annual earnings, is expiring in December. Come 2013, most of the country's 160 million workers will see smaller paychecks. No...
  • Why Inflation Is The Economy's Hidden Iceberg In 2013

    12/31/2012 11:41:52 AM PST · by blam · 12 replies
    TMO ^ | 12-31-2012 | Martin Hutchinson
    Why Inflation is the Economy's Hidden Iceberg in 2013 Economics / InflationDec 31, 2012 - 06:35 AM By: Money Morning Martin Hutchinson writes: Even though Ben Bernanke's Fed has kept interest rates close to zero, inflation hasn't been a big problem since the 2008 financial crisis. Despite what many observers have expected inflation has remained quite tame. However in 2013, that may be about to change. One factor that might cause a surge in inflation is the fiscal cliff. That's because Bernanke is already buying $1 trillion of Treasury and housing agency bonds each year ($85 billion per month) against...
  • Preppers, Patriots and Pirates

    12/31/2012 8:06:08 AM PST · by blam · 22 replies
    BATR ^ | 12-31-2012 | BATR
    Preppers, Patriots and Pirates Politics / US PoliticsDec 31, 2012 - 08:21 AM By: BATR Now that the prospects of a second Obama administration are hitting home, the pace of a rapid deterioration are confronting all thinking Americans. The radical transformation that is centrally planned for the economy and authoritarianism administrated by the statists that are part of the most tyrannical regime in memory, is taking place before our eyes. Falling off the cliff is more like descending into the abyss of martial law contrived to eliminate the last remnants of independent citizens. Advocating for civil liberties is treated as...
  • Din of Hammers, Oil Wells Signal Bakersfield Boom (CA)

    12/30/2012 12:58:17 PM PST · by Mark · 9 replies
    ABC News ^ | December 29, 2012 | TRACIE CONE Associated Press
    For most of its existence, Bakersfield has inhabited that awkward in-between place. Not as sophisticated as Los Angeles, just over the Tehachapi Mountains to the south, not as wealthy as its longtime economic rival Fresno, equidistant to the north. Cheap land, affordable housing, proximity to Los Angeles, a location that's within a three-hour drive of 90 percent of the state's population, and a planning department that doesn't throw up roadblocks are driving the region's economic revolution, business leaders say.
  • Why we are on the brink of the greatest Depression of all time

    12/29/2012 11:21:11 PM PST · by MinorityRepublican · 40 replies
    Fox News ^ | August 23, 2012 | Wayne Allyn Root
    Everywhere from FoxNews.com to CNBC.com, I suddenly see commentators warning of pending doom, economic collapse, and a new Great Depression. Welcome to my club. Perhaps America's politicians and economists should have paid attention to an entrepreneur and small businessman that has been warning of economic collapse and a new Great Depression publicly for over two years. More importantly, none of the current commentaries mention the "why's" of this slow motion economic collapse...beyond the obvious -- mountains of deficit and debt. None of them mention the dysfunctional structure of the current U.S. economy and the massive changes in the work ethic...
  • French Court Rejects 75 Percent Millionaire's Tax

    12/29/2012 8:12:40 AM PST · by usconservative · 18 replies
    Reuters Wire Service ^ | 12/29/12 | Emile Picy and Catherine Bremer
    (Reuters) - France's Constitutional Council on Saturday rejected a 75 percent upper income tax rate to be introduced in 2013 in a setback to Socialist President Francois Hollande's push to make the rich contribute more to cutting the public deficit.
  • Sixteen Things About 2013 That Are Really Going To Stink

    12/29/2012 7:39:40 AM PST · by blam · 15 replies
    TEC ^ | 12-29-2012 | Michael Snyder
    16 Things About 2013 That Are Really Going To Stink By Michael Snyder December 27th, 2012 The beginning of the year has traditionally been a time of optimism when we all look forward to the exciting things that are going to happen over the next 12 months. Unfortunately, there are a whole bunch of things about 2013 that we already know are going to stink. Taxes are going to go up, good paying jobs will continue to leave the country, small businesses will continue to be destroyed, the number of Americans living in poverty will continue to soar, our infrastructure...
  • MICHAEL PENTO: It Would Be More Surprising If Gold Didn't Go To $10,000

    12/29/2012 7:20:15 AM PST · by blam · 23 replies
    TBI ^ | 12-29-2012 | Sam Ro
    MICHAEL PENTO: It Would Be More Surprising If Gold Didn't Go To $10,000 Sam RoDec. 29, 2012, 7:12 AM Michael Pento The world's central banks have gold bulls on high alert thanks to unprecedented, ultra-easy monetary policy. Eric King of King World News asked Michael Pento if this means gold $10,000 is coming. Here's Pento's response: “Absolutely. I know it sounds ridiculous, but don’t forget that back in the 1930s it was (around) $21 an ounce. No one would ever have believed that 80 years later we would have gold trading anywhere near $1,900 an ounce, but that’s what happened....
  • 16 Things About 2013 That Are Really Going To Stink

    12/28/2012 5:12:24 PM PST · by SeekAndFind · 46 replies
    Zero Hedge ^ | 12/29/2012 | Tyler Durden
    Originally posted at The Coming Depression blog,The beginning of the year has traditionally been a time of optimism when we all look forward to the exciting things that are going to happen over the next 12 months. Unfortunately, there are a whole bunch of things about 2013 that we already know are going to stink. Taxes are going to go up, good paying jobs will continue to leave the country, small businesses will continue to be destroyed, the number of Americans living in poverty will continue to soar, our infrastructure will continue to decay, global food supplies will likely...
  • Obama, top lawmakers meet over fiscal cliff

    12/28/2012 2:51:44 PM PST · by what's up · 10 replies
    Yahoo.com ^ | December 28, 2012 | David Espo
    WASHINGTON (AP) -- The end game at hand, President Barack Obama and congressional leaders made a final stab at compromise Friday to prevent a toxic blend of middle-class tax increases and spending cuts from taking effect at the turn of the new year. Success was far from guaranteed in an atmosphere of political mistrust — even on a slimmed-down deal that postponed hard decisions about spending cuts into 2013, and pessimism vied with optimism in a Capitol where lawmakers grumbled about the likelihood of spending the new year holiday in the Capitol.
  • So, Is This The End Of ECRI's Lakshman Achuthan? (Recession Forecast)

    12/28/2012 2:36:39 PM PST · by blam · 6 replies
    TBI ^ | 12-28-2012 | Sam Ro
    So, Is This The End Of ECRI's Lakshman Achuthan? Sam RoDec. 28, 2012, 2:42 PMWall Street analysts put their reputations at risk everytime they publish a forecast. And that risk rises exponentially when those forecasts go against the consensus. Few analysts have been more aggressive about their non-consensus calls than ECRI's Lakshman Achuthan, who predicted in September 30, 2011 that the U.S. was heading for a recession and that it was "inescapable." Many have criticized him for being ambiguous with his timeline for that call. But during a November 29 appearance on Bloomberg Surveillance with Tom Keene, Achuthan made it...
  • Myths That Conceal Reality

    12/28/2012 12:04:39 PM PST · by PapaNew · 8 replies
    YouTube ^ | 1977 | Milton Friedman
    Video Lecture. Might as well have been given yesterday.
  • Employment Collapsed In Today's Chicago PMI Report, But It's A Mistake To Freak Out About It

    12/28/2012 8:26:22 AM PST · by blam · 6 replies
    TBI ^ | 12-28-2012 | Sam Ro
    Employment Collapsed In Today's Chicago PMI Report, But It's A Mistake To Freak Out About It Sam RoDecember 28, 2012 Earlier this morning, we learned that the Chicago PMI climbed to 51.6 in December. This was slightly ahead of economists expectations. The gain was largely driven by a jump in the new orders sub-index. However, the employment index collapsed to a three-year low. Should we be worried? TD Securities' Eric Green thinks we should take a deep breath and think about what happened. "That may look worse than it really is, however," he writes. "The drop in employment reflects the...
  • The Mississippi River's Water Levels Are Dropping, And Could Shut Down Trade Next Week

    12/28/2012 8:19:44 AM PST · by blam · 28 replies
    TBI - AP ^ | 12-28-2012 | Jim Salter
    The Mississippi River's Water Levels Are Dropping, And Could Shut Down Trade Next Week Jim Salter, Associated PressDecember 28, 2012Wikimedia Commons ST. LOUIS (AP) — The Mississippi River level is dropping again and barge industry trade groups warned Thursday that river commerce could essentially come to a halt as early as next week in an area south of St. Louis. Mike Petersen of the Army Corps of Engineers said ice on the northern Mississippi River is reducing the flow more than expected at the middle part of the river that is already at a low-water point unseen in decades, the...
  • Here's What's Behind The Collapse Of The Japanese Yen — The Biggest Economic Story In The World

    12/27/2012 7:52:42 PM PST · by blam · 28 replies
    TBI ^ | 12-27-2012 | Joe Weisenthal
    Here's What's Behind The Collapse Of The Japanese Yen — The Biggest Economic Story In The World Joe WeisenthalDec. 27, 2012, 7:26 PM Earlier we joked that lost in all of the Fiscal Cliff shuffle was the fact that the yen has been getting clobbered. SocGen's FX guru Kit Juckes jokingly responded that far from getting "lost" the yen carnage was actually the only game in town. Indeed this is really the huge story in global markets right now. In addition to being a major shift in one of the world's biggest and strongest currencies, it affects all sorts of...
  • Krauthammer: Obama’s fast track on regulations could be ‘illegal and unconstitutional’

    12/27/2012 10:15:56 AM PST · by SmileRight · 20 replies
    BIZPACReview.com ^ | 12/27/2012 | Cheryl Carpenter Klimek
    In February 2011, President Obama ordered a sweeping review of the federal government, saying to the U.S. Chamber of Commerce that, “if there are rules on the books that are needlessly stifling job creation and economic growth, we will fix them.” However, according to Regulations.gov — which bills itself as “your source for information on the development of federal regulations and other related documents issued by the U.S. government” — the feds have posted thousands of new regulations in the past few months alone. The breakdown:...
  • HARRY REID: 'It Looks Like' We'll Go Over The Cliff

    12/27/2012 7:40:51 AM PST · by blam · 26 replies
    TBI ^ | 12-27-2012 | Brett LoGiurato
    HARRY REID: 'It Looks Like' We'll Go Over The Cliff Brett LoGiuratoDecember 27, 2012Senate Majority Leader Harry Reid said this morning that it "looks like" Congress will fail to come to a deal to avert the year-end fiscal cliff. "It looks like that's where we're headed," Reid said. "I don't know, time-wise, how it can happen now." It's not exactly a surprise — leaders left Washington last week without any imminent signs of a deal in the making. But it's a grim warning just days before tax hikes and automatic spending cuts begin to take effect. Reid opened the Senate...
  • Government Dependents Outnumber Those With Private Sector Jobs In 11 U.S. States

    12/27/2012 7:31:25 AM PST · by blam · 14 replies
    TEC ^ | 12-27-2012 | Michael Snyder
    Government Dependents Outnumber Those With Private Sector Jobs In 11 U.S. States By Michael Snyder December 26th, 2012 America is rapidly becoming a nation of takers. An increasing number of Americans expect the government to take care of them from the cradle to the grave, and they expect the government to dig into the pockets of others in order to pay for it all. This philosophy can be very seductive, but what happens when the number of takers eventually outnumbers the number of producers? In 11 different U.S. states, the number of government dependents exceeds the number of private sector...
  • A Blow to the College-Industrial Complex

    12/27/2012 4:08:34 AM PST · by afraidfortherepublic · 74 replies
    National Review -- The Corner ^ | 12-27-12 | Heather McDonald
    The New York Times seems concerned that teens in the fracking belt of eastern Montana are opting to work in the new oil-field economy right after high school rather than going straight on to college. A front-page story warns: Taking a job is “a lucrative but risky decision for any 18-year-old to make, one that could foreclose on his future if the frenzied pace of oil and gas drilling from here to North Dakota to Texas falters and work dries up.” Let’s see. Where is a teenager more likely to learn the basic and transferable virtue of showing up every...
  • The Year the Dreams Died

    12/27/2012 2:30:42 AM PST · by SoFloFreeper · 56 replies
    National Review ^ | 12/27/12 | Victor Davis Hanson
    The year 2012 saw the triumph of cold reality over pie-in-the-sky fantasies. Barack Obama in 2008 won an election on an upbeat message of change amid hopes that the first black president would mark a redemptive moment in American history. Four years later, the fantasies are gone. In continuing dismal economic times, Obama ran for reelection neither on his first-term achievements — Obamacare, bailouts, financial stimuli, and Keynesian mega-deficits — nor on more utopian promises. Instead, Obama’s campaign systematically reduced his rival, Wall Street financier Mitt Romney, to a conniving, felonious financial pirate who did dastardly things, from letting the...