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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...
  • JCPenney’s 3-Step Survival Plan

    12/26/2012 3:28:17 PM PST · by Morgana · 64 replies
    yahoo ^ | Tue, Dec 11, 2012 3:27 PM EST | Jeff Macke
    Former retail titan JCPenney (JCP) is in trouble. The 1,100 store mall staple is in the middle of a radical redesign under CEO Ron Johnson, who led the roll-out of Apple's wildly successful retail locations prior to coming to JCP. In an investor presentation at the beginning of 2012, Johnson promised to do nothing short of re-invent the department store concept. But it hasn't worked out that way. JCP stock is down more than 40% in 2012, sales are collapsing, and employee enthusiasm has deteriorated to the point that the company was forced to announce in an SEC filing that...
  • What Does It Mean To “Prepare For The Economic Collapse”?

    12/26/2012 8:14:39 AM PST · by blam · 72 replies
    SHTF Plan ^ | 12-24-2012 | Daisy Luther
    What Does It Mean To “Prepare For The Economic Collapse”? Daisy Luther December 24th, 2012 The Organic PrepperLast week I wrote an article in response to the media’s vilification of preppers in the aftermath of the horrible tragedy in Newtown, Connecticut. The article was quoted in an article on Yahoo.com, to my great astonishment, and that is when I saw how little most people understand about prepping. You can see in most of the 4492 comments the article received that many folks just don’t “get it”. My inbox was filled with a barrage of hate mail and a number of...
  • Shoppers disappoint retailers this holiday season

    12/26/2012 7:46:48 AM PST · by 2ndDivisionVet · 18 replies
    Yahoo! News / The Associated Press ^ | December 26, 2012 | Daniel Wagner
    U.S. shoppers spent cautiously this holiday season, a disappointment for retailers who slashed prices to lure people into stores and now must hope for a post-Christmas burst of spending. Sales of electronics, clothing, jewelry and home goods in the two months before Christmas increased 0.7 percent compared with last year, according to the MasterCard Advisors SpendingPulse report. That was below the healthy 3 to 4 percent growth that analysts had expected...
  • HUSSMAN: Investors Don't Realize How Quickly All Of Their Recent Profits Could Get Destroyed

    12/24/2012 6:47:16 AM PST · by blam · 2 replies
    TBI ^ | 12-24-2012 | Joe Weisenthal
    HUSSMAN: Investors Don't Realize How Quickly All Of Their Recent Profits Could Get Destroyed Joe WeisenthalDec. 24, 2012, 7:05 AM In his latest weekly note, John Hussman is very bearish and he blasts the Fed for not correctly fixing the economy. This is very standard for him. One interesting observation regards the fragility of investor gains: The stock market is only a few percent from its 6-month high at present, and even an overextended move to about 1490 would put the S&P 500 at its upper Bollinger band (two standard deviations above the 20-period moving average) on daily, weekly and...
  • KRUGMAN: Bowles, Greenspan, And The WSJ Are All Basically Members Of A Doomsday Cult

    12/24/2012 6:30:00 AM PST · by blam · 9 replies
    TBI ^ | 12-24-2012 | Joe Weisenthal
    KRUGMAN: Erskine Bowles, Alan Greenspan, And The WSJ Editorial Board Are All Basically Members Of A Doomsday Cult Joe WeisenthalDec. 24, 2012, 5:55 AM We liked this note that was sent out by SocGen's Kit Juckes this morning: It wouldn't be Christmas without Paul Krugman telling the US government it's OK to spend money. Krugman thinks that anyone who worries about a disaster coming from the scale of US debt is a doom-mongerer. Especially the WSJ. That's snarky, but that is what Krugman's Christmas eve column is about. Essentially it's a reminder of one of his favorite topics: That the...
  • 2012: Calm Before The Storm

    12/23/2012 9:18:16 PM PST · by Errant · 17 replies
    Zero Hedge ^ | December 23, 2012 | Gordon T. Long
    We have a new era dawning in Global Monetary policy. It is a new day with the monetary skies already red. Within 90 days the captains of monetary policy have steered the world into uncharted waters and on a course that history warns us against. Federal Reserve: QE3 "Unlimited" and QE4 within 90 days, ECB: OMT "Uncapped", BoJ: QE 10 and the newly elected Prime Minister Abe's mandate for "Inflation at any cost" BoE: UK's newly appointed BoE Governor, Mark Carney's Monetary Evan Rule targeting. These untested and newly commissioned captains all have PhD's from the finest Economic schools in...
  • (Vanity) Obama Gets Busted, or Never So Few

    12/23/2012 5:51:25 PM PST · by grey_whiskers · 3 replies
    grey_whiskers ^ | 12-23-2012 | grey_whiskers
    Early in his first term, Barack Obama raised a lot of eyebrows by his (now-infamous) action of returning to the British a bust of Winston Churchill. This error was compounded by giving as a gift to the British Prime minister a gift of DVDs of classic American movies, in a format incompatible with British DVD players. A lot of time was spent either rationalizing this behaviour away, or analyzing it, but the consensus, after a time, was Officially DeclaredTM to be a mixture of "SQUIRREL!" and "Anti-Imperialist" together with references to the Brit treatment of the Mau-Maus in Africa, hints...
  • Silver-collar economy: Kalamazoo-area workers follow national trend in putting off retirement

    12/23/2012 12:21:34 PM PST · by 2ndDivisionVet · 14 replies
    The Grand Rapids Press ^ | December 23, 2012 | Yvonne Zipp
    KALAMAZOO, MI – It may be time to put away those rocking chairs and list the golf clubs on eBay. Whether driven by economic necessity or a desire to remain engaged, more people are punching clocks well past their 65th birthday. In 2012, one in nine men over age 75 was working, according to the U.S. Bureau of Labor Statistics, and one in 20 women over 75 were employed. That was the highest number recorded since the government started keeping those statistics in 1981. "I do think that a lot of people who are approaching later in life these days...
  • Protesters Target Hotels Offering Discounts to NRA Members

    12/22/2012 10:25:35 PM PST · by 2ndDivisionVet · 18 replies
    Breitbart's Big Government ^ | December 22, 2012 | Tony Lee
    A global activist group is targeting two large hotel chains because they give discounts to members of the National Rifle Association. The organization is putting pressure on the hotel chains to force them to disassociate from the gun-rights group after the Sandy Hook Elementary School massacre. The group, Avaaz, described as a "a global campaign network of 17 million people" is pressuring "Wyndham Hotels Worldwide – which owns Ramada, Days Inn, Wingate and Super 8 – and Best Western" because both organizations are listed as "friends of the NRA" on the NRA's website. Joseph Huff-Hannon, a senior campaigner at Avaaz,...
  • Experts Predict a Hiring Boom in 2013 (Hilarious!)

    12/22/2012 9:23:29 PM PST · by 2ndDivisionVet · 24 replies
    US News and World Report ^ | December 20, 2012 | David Francis
    Hiring is expected to pick up in the New Year, according to career counselors, but uncertainty surrounding the strength of the economy will likely prevent the hiring season from being as robust as in years past. Last month, the economy added 146,000 jobs, well beyond the expected 85,000 experts predicted. And a strong holiday shopping season is buoying hopes that December will beat expectations as well. "Historically, the first quarter of any fiscal year is always the best time to expect hires because of the normal cycle of business," says Robert Meier, president of Job Market Experts, a Florida-based firm...
  • Delta receives 22,000 applications for 300 flight attendant jobs

    12/22/2012 7:37:20 PM PST · by 2ndDivisionVet · 12 replies
    The Atlanta Business Chronicle ^ | December 21, 2012 | Carla Caldwell
    Atlanta-based Delta Air Lines, Inc., (NYSE; DAL) received 22,000 applications for about 300 flight attendant jobs after posting the positions outside the company last week. Reuters reports that Chief Executive Officer Richard Anderson told workers in a weekly recorded message that applications arrived at a rate of two per minute. “We are experiencing a phenomenal response to the job posting,” Anderson said. Applicants will be interviewed in January. New employees will begin flying in June in time for the company’s peak travel season...
  • 75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe

    12/22/2012 5:59:14 AM PST · by blam · 16 replies
    TEC ^ | 12-22-2012 | Michael Snyder
    75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe By Michael Snyder December 20th, 2012 What a year 2012 has been! The mainstream media continues to tell us what a "great job" the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class. It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening. If nothing is done, our debt problems will continue to get worse,...
  • The Most Accurate Economist On Wall Street Sees A Big Bullish Wildcard For America

    12/21/2012 1:32:51 PM PST · by blam · 10 replies
    TBI ^ | 12-21-2012 | Sam Ro
    The Most Accurate Economist On Wall Street Sees A Big Bullish Wildcard For America Sam RoDec. 21, 2012, 2:05 PM One of the most bullish economic stories in the world has been the recent recovery of the U.S. housing market. Maury Harris, UBS's Chief U.S. Economist, is particularly optimistic considering the snapback of housing formation, which is now back above 1 million per year. We recently had lunch with Harris, who is repeatedly recognized as the most accurate economist on Wall Street and is one of Bloomberg's 50 most influential people in the world. Harris pointed to one housing market...
  • BOOMTOWN: D.C. house inspires 168 bids in red-hot real estate market

    12/21/2012 12:44:48 PM PST · by Poundstone · 12 replies
    The Washington Post ^ | December 21, 2012 | Annys Shin
    While much of the nation is still struggling to emerge from a historic housing-market meltdown, the District is reliving its boom days. High rents, low interest rates, low inventory, and a flood of new residents in their 20s and 30s are making parts of the city feel like it’s 2005 again. The median home sale price in the District is up 14 percent from last year, according to RealEstate Business Intelligence (RBI). And the average number of days houses spend on the market has fallen by nearly 30 percent, to 53 days.
  • Weekly jobless claims rise 17,000 to 361K

    12/21/2012 6:52:17 AM PST · by InterestedQuestioner · 13 replies
    CBS News ^ | 12/20/12 | AP
    The number of Americans applying for unemployment benefits rose last week by 17,000, reversing four weeks of declines.
  • The Coming China Economic Crisis

    12/20/2012 3:00:15 PM PST · by blam · 5 replies
    TMO ^ | 12-20-2012 | Clif Droke
    The Coming China Economic Crisis Economics / China EconomyDec 20, 2012 - 04:43 AM By: Clif Droke When Bert Dohmen talks, smart investors listen. In 2007 when most investment analysts and economists were downplaying the developing credit market troubles, Bert warned investors that the probability was very high that the troubles would escalate into full-blown crisis and would produce a crash of historic proportions. He chronicled the developing credit crisis in the pages of his newsletter and also published a book in early 2012 entitled, The Coming China Crisis, which provided his insightful views on the emerging crisis in depth....
  • Down And Out In California

    12/20/2012 11:09:16 AM PST · by blam · 16 replies
    The Daily Reckoning ^ | 12-20-2012 | Douglas French
    Down And Out In California By Douglas French 12/20/12 Gas in Vegas is a dollar cheaper a gallon than in the Golden State, or so a friend and recent LA transplant tells me. He went on to say the top tax rate in California is over 13%, while, of course, Nevada has no state income tax. Over dinner at Del Frisco’s, he explained how industries are being ruined by runaway government in his old home state. Nevada would surely benefit from businesses making their escape. Plenty of people are leaving California — nearly 700,000, I read somewhere — however, my...
  • The One Single Reason Why We're Going Over the Fiscal Cliff

    12/20/2012 9:04:51 AM PST · by Zakeet · 4 replies
    Zero Hedge ^ | December 20, 2012 | Phoenix Capital Research
    I’m going to lay out everything you need to know about the fiscal cliff negotiations. After reading this, you can ignore all of the media’s coverage of this topic as well as various politicians’ announcements pertaining to this subject. All you need to know consists of just one sentence. Politicians are in charge of this issue.These are the same folks who haven’t even produced a budget in four years. The same folks who have run $1+ trillion deficits for four years. The same folks who rarely if ever leave office as a result of their fiscal mistakes. In simple terms,...
  • JIM ROGERS: I'm A Gold Bull, But I Think Prices Will Tumble For A While Longer

    12/20/2012 6:16:13 AM PST · by blam · 5 replies
    TBI ^ | 12-20-2012 | Rajeshni Naidu-Ghelani
    JIM ROGERS: I'm A Gold Bull, But I Think Prices Will Tumble For A While Longer Rajeshni Naidu-Ghelani, CNBCDecember 20, 2012With gold prices being hammered in recent weeks, and trading near four-month lows on Wednesday, longtime gold bull Jim Rogers is sounding a word of caution, saying it's possible the correction in bullion may continue into the new year. "Just be careful, there're too many bulls, including me, but I'm very cautious," Rogers told CNBC. "Gold is having a correction— it's been correcting for 15-16 months now— which is normal in my view, and it's possible that [the] correction is...
  • GDP SOARS PAST EXPECTATIONS, RISING 3.1 PERCENT

    12/20/2012 6:07:24 AM PST · by blam · 22 replies
    TBI ^ | 12-20-2012 | Matthew Boesler
    GDP SOARS PAST EXPECTATIONS, RISING 3.1 PERCENT Matthew BoeslerDecember 20, 2012 U.S. economic output rose 3.1 percent in Q3 versus consensus estimates of a 2.8 percent gain. An increase in nonfarm private inventories was one of the largest single drivers of growth, contributing 1.1 percentage points to the number. Personal consumption growth came in at 1.6 percent versus expectations of a 1.4 percent rise. Below, the full text from the BEA: Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- increased at an annual rate of 3.1...
  • Shiller: Housing Hasn’t Necessarily Bottomed Yet

    12/20/2012 6:01:24 AM PST · by blam
    Pragmatic Capitalism ^ | 12-20-12 | Cullen Roche
    Shiller: Housing Hasn’t Necessarily Bottomed Yet 12/20/2012 1:39 AM Cullen Roche In an interview on CNBC earlier today Robert Shiller provided his outlook for housing. Shiller says house prices haven’t necessarily bottomed yet. “A lot of people seem to think that if the market turns around, that means more of the same, meaning another big boom.” … “I don’t think [a boom] is in the cards. We might see home prices go up a little bit, you know, a little bit above inflation, maybe. Not likely that we’ll see a real boom.” “I’d like to people getting optimistic again. Not...
  • What Is FedEx Telling Us About The Global Economy?

    12/20/2012 5:51:08 AM PST · by blam · 4 replies
    Pragmatic Capitalism ^ | 12-20-2012 | Cullen Roche
    What Is FedEx Telling Us About The Global Economy? 12/20/2012 3:04 AM Cullen Roche Everyone always thinks that Alcoa kicks off the earnings season, but I donÂ’t see it that way. The real earnings season kicks off with FedEx who usually reports well in advance of Alcoa and gives us a much more meaningful look into the state of the economy. So whatÂ’s the global bellwether telling us? Here are some of the key highlights from their earnings report yesterday and the conference call: â–  Guidance for the full-year was in-line with expectations after last quarterÂ’s big cut. That could...
  • Interview Steve Goreham- The Mad, Mad, Mad World of Climatism

    12/19/2012 2:40:37 PM PST · by 1pitech · 1 replies
    The Conscience of Kansas radio program ^ | 12-16-12 | Dr. Paul A. Ibbetson
    Dr. Paul A. Ibbetson on The Conscience of Kansas radio program on KRMR The Patriot 105.7FM interviews book author Steve Goreham on his new book, "The Mad, Mad, Mad, World of Climatism."
  • Experts predict 2013 restaurant trends

    12/19/2012 2:30:58 PM PST · by 2ndDivisionVet · 9 replies
    Pizza Marketplace ^ | December 19, 2012 | Alicia Kelso
    What trends will emerge — or accelerate — in the restaurant industry in 2013? Food, marketing, technology, equipment, whatever? We asked some of our most trusted experts for their opinions and came up with this compilation: "The restaurant industry will continue to be challenged by rising commodities prices. Fraud will continue to trend upward with increases in credit card skimming, and theft schemes; and the threat of late night robbery is ever present (particularly as more restaurants add more hours). Mitigating and preventing these losses with sound loss prevention strategies must become a priority to stay competitive in the marketplace."...
  • We’re Going to be in a New Recession-John Williams

    12/19/2012 1:58:51 PM PST · by Errant · 9 replies
    USAWatchdog.com ^ | 19 December, 2012 | Greg Hunter
    Economist John Williams thinks the economy is in worse shape than most people think. In 2013, Williams predicts, “As this goes forward, you’re going to see we’re going to be in a new recession.” The Federal Reserve announced last week it is now printing a total of $85 billion every month to reduce unemployment and stimulate the economy. Williams says, “That’s nonsense. . . . There’s nothing they can do to stimulate the economy.” Williams has long contended the Fed is really just using the weak economy to continue to prop up the banking system. Williams says, “If the Fed...
  • Slow demand forces Titan to lay off 60 (Last in a series of 150 layoffs at 3 midwestern plants)

    12/19/2012 10:06:18 AM PST · by 2ndDivisionVet · 4 replies
    Rubber News ^ | December 19, 2012 | Mike McNulty
    FREEPORT, Ill.—Titan International Inc. has laid off about 60 workers at its plant in Freeport because of slumping demand for construction tires. The cuts are the last in a series of layoffs that began shortly before the November election at the company's three U.S. tire plants, according to Titan CEO Maurice Taylor Jr. All the cutbacks are part of the firm's construction tire segment. Quincy, Ill.-headquartered Titan's tire factories in Bryan, Ohio, and Des Moines, Iowa, also experienced layoffs during the past two months, about 90 between the two facilities, Taylor said...
  • GUNDLACH: 'The Real Killer Will Be The Next Recession, And There Will Be One'

    12/19/2012 6:06:07 AM PST · by blam · 14 replies
    TBI ^ | 12-19-2012 | Sam Ro
    GUNDLACH: 'The Real Killer Will Be The Next Recession, And There Will Be One' Sam RoDec. 18, 2012, 5:37 PM Bond god Jeff Gundlach was on Bloomberg Television's "Market Makers" with Erik Schatzker and Stephanie Ruhle. Among other things, Gundlach is concerned about the prospect of another recession, which he thinks will happen thanks to spending cuts and tax hikes. We got out of the last recession thanks to the government racking up debt. The next time around, Gundlach thinks that type of fiscal policy won't be tolerated. Here's Gundlach: The real killer is going to be the next recession....
  • ROSENBERG: Here Are 6 Dark Economic Clouds That Are Parting

    12/18/2012 10:20:54 AM PST · by blam · 9 replies
    TBI ^ | 12-18-2012 | Sam Ro
    ROSENBERG: Here Are 6 Dark Economic Clouds That Are Parting Sam RoDecember 18, 2012 Lately, David Rosenberg has adopted a more optimistic tone in his research notes. "While I wouldn't exactly say that I see silver linings, I would say that some clouds certainly appear to be parting," wrote the normally bearish Rosenberg in this morning's Breakfast With Dave note. He offers six such clouds that are parting: 1."...some stabilization of the U.S. data that should prevent further downgrades at least as Q4 GDP consensus call is concerned." 2."...we are moving closer to a deal on the fiscal front. The...
  • Promises Will Be Broken

    12/17/2012 7:23:20 PM PST · by blam · 14 replies
    TDR ^ | 12-17-2012 | Bill Bonner
    Promises Will Be Broken By Bill Bonner 12/17/12When wealth was easy to identify and easy to control — that is, when it was mostly land — a few insiders could do a fairly good job of keeping it for themselves. The feudal hierarchy gave everybody a place in the system, with the insiders at the top of the heap. But come the industrial revolution and suddenly wealth was accumulating outside the feudal structure. Populations were growing too…and growing restless. The old regime tried to tax this new money, but the new ‘bourgeoisie’ resisted. “No taxation without representation,” was a popular...
  • Hill Poll: Gloomy voters say US on wrong track, kids will be poorer

    12/17/2012 5:14:48 PM PST · by CutePuppy · 42 replies
    The Hill ^ | December 17, 2012 | Sheldon Alberts
    A mood of economic gloom hangs over the nation as President Obama and Republican leaders scramble to strike a deficit deal that avoids automatic tax hikes and spending cuts, according to a new poll for The Hill. The poll, conducted by Pulse Opinion Research, found nearly 6-in-10 people (59 percent) feel the country is on the wrong track. It also showed people are deeply pessimistic about their chances for future prosperity, with 54 percent saying they believe their children will be worse off as adults than their parents.The poll results cast a shadow over talks in Washington aimed at averting...