Keyword: economy

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  • PAUL KRUGMAN: The Deficit Is Basically Solved

    01/11/2013 8:21:14 AM PST · by blam · 71 replies
    TBI ^ | 1-11-2013 | Walter Hickey
    PAUL KRUGMAN: The Deficit Is Basically Solved Walter HickeyJan. 10, 2013, 4:00 PMMany people think that fixing the deficit is a painful process that involves deep cuts to crucial programs. Some think the process is too hard, and it's not worth trying yet. That's not correct, according to a chart from from the Center on Budget and Policy Priorities' Richard Kogan showing just how far the United States has come in the past two years. We've talked before about how the painless and most effective solution to the deficit is additional growth in GDP. As the recovery progresses and GDP...
  • Louisiana Governor Jindal proposes ending state income tax

    01/10/2013 7:04:52 PM PST · by Errant · 52 replies
    Reuters ^ | January 10, 2013 | Kathy Finn
    Republican Governor Bobby Jindal said on Thursday he wants to eliminate all Louisiana personal and corporate income taxes to simplify the state's tax code and make it more friendly to business.
  • CFPB Unveils Sweeping Changes to Mortgage Rules

    01/10/2013 9:47:50 AM PST · by illiac · 23 replies
    Realtor Mag ^ | 1/10/13 | RealtorMag
    The Consumer Financial Protection Bureau unveiled new mortgage rules Thursday that are expected to change how home buyers go about getting approved for a home loan. Every company that issues mortgages will be required to follow the new guidelines. Loans that meet the agency’s new lending criteria now will be called a “qualified mortgage.” Qualified mortgages will be given protection for the bank from lawsuits filed by troubled borrowers or buyers of mortgage-backed bonds. A “qualified mortgage” will consist of the following: • Lenders must prove that income and assets are sufficient to repay the loan (this applies to jumbo...
  • Morning Bell: See America’s Ranking in the 2013 Index of Economic Freedom

    01/10/2013 6:56:36 AM PST · by LucianOfSamasota · 2 replies
    The Heritage Foundation ^ | January 10, 2013 | Amy Payne
    When we talk about “economic freedom,” what do we mean—and why does it matter? Economic freedom is the fundamental right of every human to control his or her own labor and property. In an economically free society, individuals are free to work, produce, consume, and invest in any way they please, with that freedom both protected by the state and unconstrained by the state. Since reaching a global peak in 2008, sadly, economic freedom around the world has continued to stagnate. Today launches the 19th edition of the Index of Economic Freedom, produced by The Heritage Foundation and The Wall...
  • Economic Collapse! A Leading Indicator Of Better Times To Come

    01/10/2013 7:48:18 AM PST · by blam · 6 replies
    TMO ^ | 1-10-2013 | Darryl R Schoon
    Economic Collapse! A Leading Indicator Of Better Times To Come Economics / Global EconomyJan 10, 2013 - 04:00 AM By: Darryl R Schoon It’s going to get better; but, first, it’s going to get worse Time of the Vulture, 3rd ed. 2012 When I presented Time of The Vulture: How to Survive the Crisis and Prosper in the Process to the Positive Deviant Network in March 2007, the economic collapse hadn’t yet happened. The next year, it did. At the time, I suggested those in attendance shed debt, sell their homes and buy gold. Then, the US real estate market...
  • DOUG KASS: Stocks Will Hit Their High For The Year By The End Of This Week

    01/09/2013 11:04:37 AM PST · by blam · 6 replies
    TBI ^ | 1-9-2013 | Matthew Boesler
    DOUG KASS: Stocks Will Hit Their High For The Year By The End Of This Week Matthew BoeslerJanuary 9, 2013Legendary investor Doug Kass of Seabreeze Partners thinks that by the end of this week, investors will see the top in the S&P 500 for the rest of the year. In his "15 Surprises for 2013," published today on TheStreet.com, Kass writes: Once again, the bullish consensus is tightly grouped with the expectation that the S&P 500 will close the year at 1550-1615 (up from 1425 at the close of 2012) and that the 10 year U.S. note yield will trade...
  • The FED and Indentured Citizens

    01/09/2013 10:07:55 AM PST · by Starman417 · 6 replies
    Flopping Aces ^ | 01-08-13 | James Raider
    The Fed disguised In 1913 Congress abdicated its Constitutional responsibility over currency on behalf of the people when it created the monster called The Federal Reserve System. In creating a private joint stock entity, Congress not only surrendered jurisdiction over the dollar, it also relinquished control, oversight, and authority over the institution intended to manage the citizens’ currency. Decisions hastily made in environments of illiteracy, panic, and fear, and driven by energies with ulterior motives, rarely turn out well for those who succumb. Section 2A of The Fed’s Monetary Policy Objectives states, "The Board of Governors of the Federal...
  • The Fiscal Facts of Life (A refresher course for the ignorant)

    01/09/2013 6:32:21 AM PST · by SeekAndFind · 1 replies
    National Review ^ | 01/09/2013 | Michael Tanner
    <p>Having completed yet another deficit-reduction agreement that somehow managed to increase the deficit, Congress and the Obama administration are now laying the groundwork for upcoming fights over the debt ceiling, the sequester, and the continuing resolution that will fund the government given continued refusal by Senate Democrats to pass a budget.</p>
  • Zombie Nation

    01/08/2013 11:47:44 AM PST · by blam · 12 replies
    The Daily Reckoning ^ | 1-7-2013 | Bill Bonner
    Zombie Nation Bill Bonner 01/07/13 Creating and sustaining a nation of zombies is expensive. Large sections of the US population have been turned into zombies. Retirees. Medicare dependents. Food stamp recipients. Disabled people. They are not necessarily bad people. They are not necessarily dishonest or lazy. But rather than add to wealth, they consume it. And when you have too many of them, your society consumes more wealth than it produces and you are on the road to The Downside. But the feds are not only creating individual zombies, they are also creating corporate zombies. An obvious example: “green” energy....
  • The Path To $20,000 Gold

    01/08/2013 11:35:31 AM PST · by blam · 12 replies
    The Daily Reckoning ^ | 1-8-2013 | Dan Amoss
    The Path To $20,000 Gold Dan Amoss 01/08/13 The global monetary system rests on a fragile foundation of trust. Thanks to the actions of central banks, pressure on the system will keep growing. Paper U.S. dollars sit at the heart of the global monetary system. Dollars are liabilities of the Federal Reserve. Just as houses are collateral for mortgages, Treasuries and mortgage bonds are collateral for U.S. dollars. A central bank’s balance sheet is essentially a self-reinforcing feedback loop: Government bonds are the collateral for dollar liabilities, and bonds are streams of future dollar payments. So the dollar is backed...
  • The siege of Baghdad and China's rise

    01/08/2013 10:18:02 AM PST · by Theoria · 18 replies
    Asia Times Online ^ | 07 Jan 2013 | Spengler
    American leaders bring to mind the last Abbasid Caliph, who made no preparations for the approach of the Mongols in 1258. What, asked al-Musta'sim Billah, could Mongol arrows do to the walls of Baghdad? When the Mongol commander Hulagu Khan arrived on January 29, though, he had with him 1,000 Chinese bombardiers, as well as Persian, Turkish and Georgian auxiliaries. Historians disagree as to whether the Mongols used cannon or counterweighted catapults, but in any case the bombardment breached the city's walls within three weeks, and they proceeded to slaughter between 200,000 and a million of its inhabitants. There are...
  • Forget The Debt Ceiling — Traders Are Buzzing About The Gigantic Asteroid Barreling Towards Earth

    01/08/2013 8:20:42 AM PST · by blam · 68 replies
    TBI ^ | 1-8-2013 | Sam Ro
    ART CASHIN: Forget The Debt Ceiling — Traders Are Buzzing About The Gigantic Asteroid Barreling Towards Earth Sam RoJan. 8, 2013, 8:46 AMWith no major economic, earnings, or political news, yesterday turned into one of the most boring trading days in a very long time. According to UBS's Art Cashin, this gave the New York Stock Exchange floor traders time to chat about various things. One of those things: the gigantic asteroid heading toward earth. From this morning's Cashin's Comments: And You Thought The Debt Ceiling Was All You Had To Worry About – Trading was slow enough yesterday that...
  • India to Western Tech Firms: If You Want To Sell It Here, Build It Here

    01/08/2013 7:11:11 AM PST · by SeekAndFind · 27 replies
    Wall Street Journal ^ | 01/08/2013 | AMOL SHARMA
    NEW DELHI—India has proposed sweeping curbs on the import of technology products ranging from laptops to Wi-Fi devices to computer-network equipment. The proposed regulations, which were reviewed by The Wall Street Journal, would create an expansive "Buy India" mandate requiring a large percentage of the high-tech goods sold in the country to be manufactured locally. If implemented, the rules could wreak havoc on the business plans of a wide range of U.S. and other foreign firms, including hardware-makers Cisco Systems Inc. CSCO and Dell DELL Inc.; services companies such as International Business Machines IBM Corp.; and telecom-gear suppliers such as...
  • Is America on the eve of a civil war?

    01/08/2013 4:23:24 AM PST · by Perseverando · 57 replies
    WND ^ | January 7, 2013 | Unattributed
    Exclusive: Jerry Robinson says 2013 could be 'devastating' Is America on the eve of another civil war? That question is being raised by economist, columnist, radio host and international conference speaker Jerry Robinson on his “Follow the Money Weekly.” He also talks about eight money tips for achieving financial security in 2013. But in a commentary on his podcast, he notes the situation facing Americans. “While I expect to have a very profitable year with my investments and businesses, I can’t seem to shake this nagging suspicion that 2013 may also be one of the most devastating years in American...
  • New Obama security adviser clashed with military

    10/08/2010 12:05:49 PM PDT · by ColdOne · 12 replies
    Yahoo/Reuters ^ | Oct 8,2010 | Ross Colvin and Patricia Zengerle
    WASHINGTON (Reuters) – President Barack Obama will name close aide Tom Donilon as his new national security adviser on Friday in a move that could have implications for the struggli
  • After the Fall: What Do You Do When You Conclude America Is (Temporarily or Permanently) Kaput?

    01/07/2013 3:35:29 PM PST · by SeekAndFind · 32 replies
    Pajamas Media ^ | 01/07/2013 | Barry Rubin
    If we reach the following highly unpleasant conclusion, what are the implications? The United States has taken a political turn which, at least for the next four years, will guarantee that it does not play the role of a great power mindful of and willing to protect its own true interests, to support its allies, and to combat its real foes. On the contrary, through inaction or active effort the leadership of America will take counterproductive actions that achieve the opposite result. And there are certain factors — radical ideological hegemony, a weak economy and growing debt, structural social changes,...
  • ART CASHIN: Veteran Traders Have Noticed A Peculiar Pattern During The Final Hours Of Trading

    01/07/2013 11:59:18 AM PST · by blam · 17 replies
    TBI ^ | 1-7-2013 | Sam Ro
    ART CASHIN: Veteran Traders Have Noticed A Peculiar Pattern During The Final Hours Of Trading Sam RoJan. 7, 2013, 11:11 AM Stocks have started 2013 on a positive note, closing at a five-year high on Friday. So, are people feeling bullish? Art Cashin, UBS Financial Services Director of Floor Operations, is a tad skeptical. He points to some imbalances during end-of-day trading in this morning's "Cashin's Comments": Some On-Close Support For the “New Money” Thesis – As we have noted repeatedly during this New Year’s rally, several of us old fogeys believe most of the fuel for the move...
  • Renowned French economist to join Obama’s team

    01/06/2013 11:13:34 PM PST · by Buddy Sorrell · 26 replies
    France 24 ^ | 1/5/2013 | France 24
    France’s Esther Duflo, a star economist who was once named one of Time magazine’s 100 most influential people in the world, has been nominated by US President Barack Obama to help shape US global development policy. France’s Esther Duflo, a world renowned economist, has been nominated by US President Barack Obama to join a government body dedicated to advising the administration on global development policy. Duflo, who was raised in a “left-leaning Protestant” family, said she became aware of economic divides and social injustice at a very early age.
  • Eurozone left in lurch as US 'can-do’ spirit spurs economy towards revival

    01/06/2013 4:50:40 PM PST · by 2ndDivisionVet · 24 replies
    The London Sunday Telegraph ^ | January 6, 2013 | Roger Bootle
    So the Americans did it. They avoided the fiscal cliff – right at the 11th hour, much as many of us suspected they would. Not that America’s travails are over. Quite the opposite. The fiscal problem has been merely deferred, not cured. Meanwhile, even given Congressional agreement on immediate fiscal issues, the pace of economic recovery is set to be modest. Yet even this is better than the outlook for the eurozone, where the economy is likely to languish, if not to contract further. Why do the US and the eurozone present such different economic prospects? One possible answer is...
  • JPMORGAN: The US Recovery Is About To Hit A Pothole

    01/06/2013 3:54:54 PM PST · by blam · 30 replies
    TBI ^ | 1-6-2013 | Walter Kurtz, Sober Look
    JPMORGAN: The US Recovery Is About To Hit A Pothole Walter Kurtz, Sober LookJan. 6, 2013, 8:43 AM As discussed earlier (see post), US manufacturing sector has begun to recover. Manufacturing orders in the US as well as in Emerging Asia (see post) have diverged from other large economies. This trend is becoming reflected in the broader economic activity. However according to JPMorgan, the result of the latest fiscal negotiations will soon create headwinds for this expansion and dampen GDP growth. The tax increases on higher income households as well as the hike in payroll taxes will crate a drag...
  • The Tax Man Takes Aim At The World's Wealthy

    01/06/2013 12:10:23 PM PST · by Theoria · 16 replies
    NPR ^ | 06 Jan 2013 | Anita Huslin
    As 2013 begins with wealthy Americans in line for bigger tax bills, they're not alone. Tax fairness takes the spotlight worldwide this year, as cash-strapped governments look to impose more of the burden on well-heeled companies, individuals and institutions, and to catch and punish tax cheaters. This week, as the U.S. Congress averted a plunge off the fiscal precipice, British Prime Minister David Cameron sent a letter to leaders of the Group of Eight countries that make up about half of the world's economic output. Cameron is incoming president of the G-8 and says corporate tax evasion is on his...
  • Obama to draw on public support in new round of economic battles (What is Hussein's fiscal plan?)

    01/06/2013 6:38:55 AM PST · by Libloather · 19 replies
    The Hill ^ | 1/06/13 | Niall Stanage, Amie Parnes
    President Obama intends to take a confrontational approach with Republicans in future economic battles by using the same campaign-style events the White House saw as effective in the “fiscal-cliff” fight. Many in Obama’s party believe that he got the upper hand in the recent deal to avoid the mixture of across-the-board tax hikes and spending cuts, and that the aggressive approach helped build his public case. Sources close to Obama say he can fend off Republicans for several reasons: his successful reelection; polling suggesting public support for many of his positions; and division among Republicans on Capitol Hill. Jen Psaki,...
  • Did The Fed Lie About QE 3 And 4?

    01/05/2013 2:46:34 PM PST · by blam · 16 replies
    TMO ^ | 1-5-2012 | Graham Summers
    Did The Fed Lie About QE 3 And 4? Stock-Markets / Quantitative EasingJan 05, 2013 - 08:24 AM By: Graham Summers It’s common belief that Bernanke and the Fed are printing $85 billion per month ($40 billion to buy Mortgage Backed Securities and $45 billion to buy Treasuries). After all, these are the policies that the Fed announced in September and December 2012, respectively. The only issue with this is that the Fed lied. Today, the Fed’s balance sheet is $1.3 billion smaller than it was at this time last year. Last week it was $19 billion smaller. The largest...
  • What state buys the most guns? (Guam twice as many as the District of Columbia?)

    01/04/2013 8:44:51 PM PST · by 2ndDivisionVet · 23 replies
    The Daily Caller ^ | January 3, 2013 | Mike Piccione, editor, Guns & Gear
    If we use the National Instant Criminal Background Check System , or NICS, as a proxy for gun sales we see that Kentucky is the runaway leader in gun sales for 2012. Four states exceeded one million Federal Bureau of Investigation NICS checks; Kentucky, Texas, California and Illinois. Kentucky is the only state to exceed two million background checks. Background checks are only a proxy measure for gun sales. A buyer may purchase more than one gun through a gun dealer, depending on the local laws, once the background check comes back authorizing the purchase. The list of states and...
  • America's Disabled Recovery: 28,705,000 on Disability

    01/04/2013 4:56:34 PM PST · by whitedog57 · 24 replies
    Confounded Interest ^ | 01/04/2012 | Anthony B. Sanders
    The Bureau of Labor Statistics (BLS) released their monthly jobs report. Now for the BLS Boogie. Nonfarm payrolls rose by 155,000 workers last month following a revised 161,000 advance in November that was greater than initially estimated. The unemployment rate printed at 7.8% which is up from 7.7% in November but the same as the UPWARDLY REVISED print of 7.8%. U6 partial unemployment printed at 14.4%. Labor force participation remained at 63.6%. And the civilian employment to population ratio fell to 58.6, still stuck are 1983 levels. That’s a lot of people for the 58.6% to support! The number of...
  • The Cause of America’s Declining Birthrate

    01/04/2013 2:14:20 PM PST · by NYer · 31 replies
    Crisis Magazine ^ | January 4, 2013 | Austin Ruse
    The birthrate in the United States has fallen to record lows, according to a new study published by the Pew Research Center. What’s more, the report says the most dramatic drop has been among foreign-born Hispanic women.We have been content for some time that the U.S.-born Caucasian birth rate was below replacement but that the Hispanics had been making up for it by having births higher than replacement, and that this made us unique in the industrialized west.Pew reports, “The overall U.S. birthrate, which is the annual number of births per 1,000 women in the prime childbearing ages of 15-44,...
  • Workers making $30,000 will take a bigger hit on their pay than those earning $500,000 under

    01/04/2013 12:26:55 PM PST · by lowbridge · 34 replies
    http://www.dailymail.co.uk ^ | january 3, 2013 | hayley peterson
    Middle-class workers will take a bigger hit to their income proportionately than those earning between $200,000 and $500,000 under the new fiscal cliff deal, according to the nonpartisan Tax Policy Center. Earners in the latter group will pay an average 1.3 percent more - or an additional $2,711 - in taxes this year, while workers making between $30,000 and $200,000 will see their paychecks shrink by as much as 1.7 percent - or up to $1,784 - the D.C.-based think tank reported. Overall, nearly 80 percent of households will pay more money to the federal government as a result of...
  • THE SCARIEST JOBS CHART EVER

    01/04/2013 8:00:39 AM PST · by blam · 19 replies
    TBI ^ | 1-4-2013 | Sam Ro
    CHART OF THE DAY: THE SCARIEST JOBS CHART EVER Sam RoJanuary 4, 2013It's jobs day in America. This morning we learned that the U.S. economy added 155k jobs December and the unemployment rate ticked up in 7.8 percent. Although the numbers were in line with economists' expectations, they still reflect a job market that remains incredibly weak almost four years into the economic recovery. Calculated Risk runs a chart every month putting the current jobs recovery into perspective. "This shows the depth of the recent employment recession - worse than any other post-war recession - and the relatively slow recovery...
  • Congress Avoids The Fiscal Cliff By Selling Us Down The River (Peter Schiff)

    01/04/2013 7:52:31 AM PST · by blam · 7 replies
    TMO ^ | 1-4-2013 | Peter Schiff
    Congress Avoids The Fiscal Cliff By Selling Us Down The River Politics / US PoliticsJan 04, 2013 - 07:22 AM By: Peter Schiff With the possible exception of the New York Times' editorial board (and the cast of The Jersey Shore), everyone on the planet understood that the United States Government needs to cut spending, increase taxes, or both. Instead, after months of political posturing and hand wringing, the Federal Government has just delivered the exact opposite, a deal that increases spending and decreases taxes. The move lays bare the emptiness of budget legislation, which can be dismantled far easier...
  • 13 Reasons You're Not As Successful As You Should Be

    01/03/2013 11:31:55 PM PST · by 2ndDivisionVet · 41 replies
    National Federation of Independent Business ^ | January 4, 2013 | Jim Kukral
    Feeling down about your small business these days? Is the broken economy hurting your sales and keeping you up at night? Need some motivation and tough love to help you stop pitying yourself? Well, here you go: 13 reasons you might have in your head about why you're not as successful as you should be. #1 Reason You’re Not As Successful As You Should Be – Laziness I don’t think there’s an easy way to put this. I have to assume that you’re lazy. Every single successful person works their butts off to get where they are. It’s ok to...
  • Lots Of Influential People Are Talking About The Trillion Dollar Coin Idea To Save The Economy

    01/03/2013 4:36:21 PM PST · by blam · 55 replies
    TBI ^ | 1-3-2013 | Joe Weisenthal
    Suddenly, Lots Of Influential People Are Talking About The Trillion Dollar Coin Idea To Save The Economy Joe WeisenthalJan. 3, 2013, 4:42 PMThis is really thrilling. An arcane idea that started on finance blogs in the summer of 2011-- that Tim Geithner should mint a trillion dollar platinum coin to avert the debt ceiling -- is now seriously taking off. The premise of the idea is this: Although the Treasury can't just create money out of thin air to pay its bills, there is a technicality in the law that says the Treasury has special discretion to create platinum coins,...
  • Hedge Fund Presents Massive, Bearish Outlook On The State Of US Markets

    01/03/2013 3:00:05 PM PST · by blam · 2 replies
    TBI ^ | 1-3-2013 | Lucas Kawa
    Hedge Fund Presents Massive, Bearish Outlook On The State Of US Markets Lucas KawaJan. 3, 2013, 2:51 PMMorgan Creek Capital Management, an investment management firm with offices around the world, released its 2013 market outlook, entitled "Peering Over the Precipice." The presentation was delivered at the North Carolina Bankers Association yesterday. The slideshow presentation focuses on the three big risks facing the market: the Euro crisis, possibility of a downturn in China, and fallout from the Fiscal Cliff. Of these three, the firm is most bearish on the U.S. economy -- to the point of predicting a recession starting in...
  • Toomey: GOP should be willing to risk shutdown to get cuts in debt ceiling deal

    01/03/2013 2:27:57 PM PST · by Ernest_at_the_Beach · 40 replies
    Hot Air ^ | 3:31 pm on January 3, 2013 | by Mary Katharine Ham
    Sen. Pat Toomey is one of the great accomplishments of the Tea Party Movement, and after supporting him in ’04 back when Bush was backing Specter, it does my heart good to see him in our dysfunctional deliberate body. For that same reason, some are very angry at him for his vote on the fiscal cliff deal. But as we go into another debt-ceiling fight, he’s one of our better communicators on this issue. So, it also does my heart good to see him go on “Morning Joe,” up against five people who disagree with him, and direct the conversation,...
  • President Obama’s paradoxical presentation on the ‘fiscal cliff’ dealet [Afraid to call him LIAR]

    01/03/2013 5:17:48 AM PST · by SoFloFreeper · 2 replies
    Washington Post ^ | 1/3/13 | Glenn Kessler
    ... We’re back from vacation and, like many Americans, have been trying to figure out the details of the “fiscal-cliff” deal —one of those classic middle-of-the-night congressional compromises that please virtually no one. The White House, by its own accounting, ended up with $737 billion in deficit reduction, a far cry from the $2 trillion or so that it originally sought. But that hasn’t stopped President Obama from touting the deal as a victory in a campaign-style video for supporters. But a politician who highlights good news often leaves out the bad news. Let’s see what’s missing from Obama’s presentation.
  • After Newtown Tragedy, Company Begins Making Bullet-Proof Kid Clothes

    01/02/2013 11:19:46 PM PST · by 2ndDivisionVet · 10 replies
    Mediaite ^ | January 2, 2013 | Anjali Sareen
    A garment maker that specializes in bullet-proof goods for adults is planning to manufacture and sell a line of bullet-proof clothes exclusively for children, in the wake of the massacre at Sandy Hook Elementary School. Miguel Caballero has been in the garment business in Bogota, Colombia for 22 years, but has never been able to break through the U.S. market. He hopes his new line of kid’s clothes will change that. Caballero plans to sell T-shirts, vests, and combination backpack-vests. He says the inspiration for his new business model was when he started to receive requests from worried parents after...
  • Light At The End Of The Tunnel For Gold

    01/02/2013 10:26:28 PM PST · by blam · 9 replies
    The Daily Reckoning ^ | 1-3-2013 | Frank Holmes
    Light At The End Of The Tunnel For Gold By Frank Holmes 01/02/13 Intuition was telling me something was going on these past few days (of 2012) in the gold market. Our investment team was watching gold and gold stocks take a tumble for no obvious reason. It wasn’t only us who felt this way: many analysts were caught off-guard. One comment from Barclays Research indicated that the week was unusually “brutal … with quite a few confused participants with some seemingly positive aspects of the market not having an impact.” My hunch was realized only days later when Zero...
  • ROUBINI: America Has Yet To Wake Up To The Full Extent Of Its Fiscal Nightmare

    01/02/2013 3:07:47 PM PST · by blam · 12 replies
    TBI ^ | 1-2-2013 | Mamta Badkar
    ROUBINI: America Has Yet To Wake Up To The Full Extent Of Its Fiscal Nightmare Mamta BadkarJanuary 2, 2013Last night the House of Representatives voted 257-167 to pass the fiscal cliff bill. Many have pointed out that president Obama has come out the winner, while the Republicans who signed Grover Norquist's no-tax- increase pledge have been the biggest losers. But in a new op-ed for The Financial Times, Nouriel Roubini writes that the U.S. has been let down by its leaders and that they "dysfunctional nature" of the country's political system means another crisis isn't far off. He also says...
  • Triple Lutz Report--Did We Really Survive The Fiscal Cliff?

    01/02/2013 12:49:31 PM PST · by appeal2 · 1 replies
    www.financialsurvivalnetwork.com ^ | 01/02/13 | Kerry Lutz
    Congressmen come and go, but the Kleptocracy goes on and on. What would have happened had the parties not reached a deal. Probably nothing much different than now. But maybe the price of gold and silver would have gone down instead of up. This was a complete PR event, stage-managed from the get go to make you believe that higher taxes and increased government spending are the answers to what ails the country and the economy. In the end, none of the changes necessary to save the US and the world from a complete and utter economic catastrophy have been...
  • Obama claims victory, heads back to Hawaii [Hurl inducing statement from Clown in Oval Office]

    01/02/2013 4:27:32 AM PST · by SoFloFreeper · 27 replies
    "While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they’ve passed..."
  • 50 Bold Economic Predictions For 2013

    01/02/2013 3:05:14 AM PST · by 2ndDivisionVet · 14 replies
    ETF Daily News ^ | January 1, 2013 | Michael Snyder
    Are you ready for a wild 2013? It should be a very interesting year. When the calendar flips over each January, lots of people make lots of lists. They make lists of “resolutions”, but most people never follow through on them. They make lists of “predictions”, but most of those predictions always seem to end up failing. Well, I have decided to put out my own list of predictions for 2013. I openly admit that I won’t get all of these predictions right, and that is okay. Hopefully I will at least be more accurate than most of the other...
  • Deficit 'fiscal cliff' bill actually spends $330 billion more

    01/01/2013 11:43:01 AM PST · by Ernest_at_the_Beach · 18 replies
    The Washington Times ^ | January 1, 2013, 01:44PM | By Stephen Dinan
    The "fiscal cliff" deal that was designed to save money actually includes $330.3 billion in new spending over the next decade, according to the official estimate the Congressional Budget Office released Tuesday afternoon.CBO said the bill contains about $25.1 billion in new cuts, but those are swamped by the new spending on extended unemployment benefits for the long-term jobless and other new refundable tax credits that President Obama fought for.Of those cuts, only $2 billion are scheduled to take effect in 2013.And CBO also warned that some of the cuts Congress is counting are from programs on which CBO never...
  • You Know How This Ends Right? This Ends Through War.

    12/31/2012 9:07:36 PM PST · by blam · 82 replies
    SHTF Plan ^ | 12-31-2012 | Mac Slavo
    You Know How This Ends Right? This Ends Through War. Mac Slavo December 31st, 2012 In 2006, when Americans were flying high on ever-expanding credit and double digit real estate growth, hedge fund manager Kyle Bass came to the conclusion that something was very wrong. He and his investors determined that a massive real estate bubble was forming in sub-prime mortgages. But rather than just making a prediction, they put their money where their mouth was, and took a $4 billion gamble that the real estate market was about to detonate. At the time, many in the industry and within...
  • Obama's Call for More Revenue Next Year Angers GOP Senators

    12/31/2012 7:32:35 PM PST · by Ernest_at_the_Beach · 24 replies
    Rollcall ^ | Dec. 31, 2012, 2:29 p.m. | Steven T. Dennis
    Douglas Graham/CQ Roll CallMcCain said he believes the president’s statement “clearly will antagonize members of the House.” With both sides on the cusp of a fiscal cliff deal, President Barack Obama vowed Monday to seek additional revenue next year alongside spending cuts. In the process, he also angered several GOP senators who said he demeaned their efforts to reach a deal.Obama said that a year-end deal to avert tax hikes for the middle class “is within sight, but it’s not done.” The emerging deal, which sources have pegged at around $600 billion in new revenue, would include permanent extensions of...
  • If The Fiscal Cliff Were Chinese Food This Would Be Obama's Fortune Cookie

    12/31/2012 3:53:45 PM PST · by The Looking Spoon · 3 replies
    The Looking Spoon ^ | 12-31-12 | The Looking Spoon
    He had to break it to find out what was in it.
  • Why am I supposed to not want a tax compromise?

    12/31/2012 2:39:36 PM PST · by Jake8898 · 51 replies
    Me | Me
    As it stands, I pay thousands upon thousands in federal income taxes...
  • 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...