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Keyword: economy

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  • The Biggest Losers Of The Past 5 Years

    01/26/2013 2:56:56 PM PST · by blam · 11 replies
    Tbi ^ | 1-26-2013 | Joe Weisenthal
    The Biggest Losers Of The Past 5 Years Joe WeisenthalJanuary 26, 2013, 9:42 AMYou could argue that economic policy makers have done a disappointing job over the past five years, trying to get advanced economies back on their feet. Growth is still slow in the US, and job creation is subpar. But in a sense, the past five years have been a huge vindication for mainstream economic approaches, as these huge experiments in recovery have not had the nasty effects that so many people would have predicted. Consider all of the people who have spent the last few years talking...
  • My Prediction For 2013…And Beyond

    01/26/2013 11:12:44 AM PST · by blam · 8 replies
    TDR ^ | 1-25-2013 | Chris Mayer
    My Prediction For 2013…And Beyond By Chris Mayer 01/25/13 An old bit of advice says, “Never eat at a place called Mom’s or play poker with a man named Doc.” That’s a joke, but this isn’t: Never fall for an argument that says we’ll run out of some natural resource or bet on the “end” of cheap anything. Such views will cost you money in the long run. Let’s look at potash, a rock mined and processed to make fertilizers. This is a commodity that got exciting in 2008 and 2009 as the price ran from under $200 to $1,000...
  • Why Americans still feel poor

    01/26/2013 7:12:47 AM PST · by SeekAndFind · 23 replies
    Fortune ^ | 01/26/2013 | By Nin-Hai Tseng
    U.S. stocks have reached new highs, but most Americans probably don't feel any wealthier. That's because the prices of our homes have a bigger influence over how rich we feel and, therefore, how much we're willing to spend, suggests a recent study by the National Bureau of Economic Research. The findings clarify the big drivers of what economists call "the wealth effect," the idea that people spend more when they have more. This sounds pretty obvious, but the real barometer of wealth hasn't been as clear. In the past, as the Federal Reserve moved to buy up billions of dollars...
  • Is Your Stocks Portfolio Ready for What’s Going to Happen?

    01/25/2013 6:20:34 PM PST · by blam · 16 replies
    TMO ^ | 1-25-2013 | InvestmentContrarian
    Is Your Stocks Portfolio Ready for What’s Going to Happen? Stock-Markets / Stock Markets 2013Jan 25, 2013 - 09:13 AM By: InvestmentContrarian Sasha Cekerevac writes: As corporate earnings season continues for S&P 500 companies, it is becoming quite evident that revenue growth is lacking across many sectors of the economy. However, we are continuing to see growth in corporate earnings per share. How is this possible? One method is through share buybacks. S&P 500 corporations, which are generating very high levels of cash, are buying back shares and reducing the number outstanding, which increases the corporate earnings-per-share level. From April...
  • Deconstructing Obamanomics: What Is The Real Goal?

    01/25/2013 6:11:56 AM PST · by SeekAndFind · 9 replies
    Forbes ^ | 01/25/2013 | Bill Frezza
    As President Barack Obama begins his second term, democratically returned to office by a majority of Americans who seem to buy what he is selling, it would profit us to pause a moment and examine the discrepancies between the vision he expounded in his inaugural address and the economic reality that surrounds us. This leads to a pivotal question: What, exactly, is the underlying purpose of Obamanomics, and how would we know? Logic offers two choices. We can take the president at his word, and then ask why the promised economic recovery, growth, prosperity, and equality, haven’t arrived yet. Or...
  • FORMER GOLDMAN BANKER: I Miss The Great Recession Already

    01/24/2013 10:54:52 AM PST · by blam · 5 replies
    TBI ^ | 1-24-2013 | Michael, Bankers Anonymous
    FORMER GOLDMAN BANKER: I Miss The Great Recession Already Michael, Bankers AnonymousJanuary 24, 2013 I’m just going to come out and say it, ok? I miss the Great Recession already. I miss it for two reasons: first as an investor and second as a human. The Investment Side of the Great Recession As an investor, the Great Recession represented the good times, now past.[1] Recessions – or at least their financial unfolding via changes in asset prices – cause not only wealth destruction, but also wealth creation. For investors[2] in particular, a recession is often necessary in order to deploy...
  • Truckers Knew We Were In A Once-In-A-Generation Recession Before Anyone Else

    01/23/2013 11:24:27 AM PST · by blam · 31 replies
    TBI ^ | 1-18-2013 | Rob Wile
    Truckers Knew We Were In A Once-In-A-Generation Recession Before Anyone Else Rob WileJanuary 18, 2013, 11:29 AMYoutube If you ever wondered what industry is the American' economy's most accurate bellwether, here's some pretty good evidence that it might be trucking. In the just-released minutes of the Federal Open Market Committee's December 11, 2007 meeting, then-St. Louis Fed Governor William Poole recounted what he was hearing from his nonfinancial business contacts about orders and sales. Most reported softening activity, but nothing dire. But not Poole's trucker. From the December 2007 transcript: UPS is expecting a peak season that is milder than...
  • Obama Promises To Fix Inequality After Making It Worse

    01/23/2013 4:13:33 AM PST · by IBD editorial writer · 16 replies
    Investor's Business Daily ^ | 01/22/2013 | John Merline
    A centerpiece of President Obama's second inaugural address was a call for greater economic equality, with the president saying that "our country cannot succeed when a shrinking few do very well and a growing many barely make it." But that's precisely what's happened over the past four years, as Obama's economic policies left the majority of Americans falling behind while the wealthy few got further ahead. Evidence of this is everywhere you look.
  • Company making plans for asteroid mining

    01/22/2013 9:19:46 PM PST · by 2ndDivisionVet · 14 replies
    CBS News ^ | January 22, 2013 | William Harwood
    Hoping to take the commercialization of space to a higher level, a second company has jumped into what the founders hope will be a lucrative emerging market, prospecting for raw materials among near-Earth asteroids using fleets of low-cost robotic spacecraft, senior executives said Tuesday. The long-range goal is to develop an in situ manufacturing capability, harvesting raw materials and building components in space using high-tech mini foundries built around sophisticated 3D printers. "This is about the future. This is about making something happen," company chairman Rick Tumlinson told reporters during a news conference in Santa Monica, Calif. "Deep Space Industries...
  • Survey: Customers in shale gas areas confident in economic future

    01/22/2013 8:40:27 PM PST · by 2ndDivisionVet · 5 replies
    The State Journal's Grounded Blog ^ | January 22, 2013 | Taylor Kuykendall
    A new study out by the Huntington Bank finds that nearly 60 percent of consumers in shale gas exploration regions are confident the industry will provide opportunity in their area. The Midwest Economic Index surveyed across Huntington Bank's service area – from West Virginia through Michigan. The new survey is the first of its kind conducted by Huntington. "Huntington commissioned the survey by an independent research firm because we are committed to helping our customers understand the economy in our markets," said Steve Steinour, chairman, president and CEO of Huntington Bank. "While many inside and outside of the energy industry...
  • The Worldwide Demographic Cliff Is Going To Be Brutal

    01/22/2013 11:01:18 AM PST · by blam · 49 replies
    TBI ^ | 1-22-2013 | The Economist
    The Worldwide Demographic Cliff Is Going To Be Brutal The EconomistJan. 22, 2013, 8:56 AMTHE post-war generation of baby boomers - those born between 1946 and 1964 - have had a huge appetite on the world, creating "youth culture", changing social attitudes from the sixties onwards, boosting economic growth as they entered the workforce and so on. Now they are starting to retire and this blog had banged on about the effect this will have on issues like pensions, asset markets and economic growth. not to worry, say some folk, since although we may have more elderly to look after,...
  • DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness'

    01/22/2013 10:47:32 AM PST · by blam · 54 replies
    TBI ^ | 1-22-2013 | Julia La Roche
    DAVID TEPPER: 'This Country Is On The Verge Of An Explosion Of Greatness' Julia La RocheJan. 22, 2013, 11:13 AMDavid Tepper, who runs $12 billion distressed debt hedge fund Appaloosa Management, was on Bloomberg TV "Market Makers" with Stephanie Ruhle moments ago. It was a tremendous interview and it showed a very relaxed and funny side of Tepper. Tepper, who has one of the best long-term track records, told Bloomberg TV that his fund was up 30% in 2012. He's said he's "going to come out of the closet" as being bullish in 2013. The reason, he explained, is there...
  • One Sentence That Explains Why Bears Are Dropping Like Flies

    01/22/2013 6:09:40 AM PST · by blam · 27 replies
    TBI ^ | 1-22-2013 | Joe Weisenthal
    One Sentence That Explains Why Bears Are Dropping Like Flies Joe WeisenthalJanuary 22,2013Flickr / Brian Digital To really appreciate this moment, you really need to appreciate the explosion of optimism that's broken out in global financial markets. It's not just that the S&P is near all-time highs. It's not just that pro-investors are more in stocks than they've been in years. It's also that economic skeptics are starting o throw in the towel, and accept that the economy is back. Either that's a great sign, or it's a sign that things have gotten way to extreme on the positivity front....
  • Oil Guru Destroys All Of The Hype About America's Energy Boom

    01/21/2013 7:21:50 PM PST · by blam · 42 replies
    TBI ^ | 1-21-2013 | Rob Wile
    Oil Guru Destroys All Of The Hype About America's Energy Boom Rob WileJan. 20, 2013, 10:20 AM Not everyone believes the U.S. is capable of becoming energy independent thanks to its shale oil and gas reserves, as the International Energy Association suggested recently. The math just doesn't work out, they say — America consumes too much. But some are even more skeptical than that. Arthur Berman, an oil analyst with Labyrinth Consulting Services, says the promise of America's shale reserves have been vastly overstated. His main argument: shale is too expensive to drill, and shale wells usually don't last longer...
  • Obama’s speech lauds government, dismisses opponents

    01/21/2013 11:21:44 AM PST · by 2ndDivisionVet · 25 replies
    The Daily Caller ^ | January 21, 2013 | Neil Munro
    President Barack Obama’s second inauguration speech promised a sharply ideological second term where the “the people” will use government to accomplish the tasks that he declared cannot be accomplished by individuals. “No single person can train all the math and science teachers we’ll need to equip our children for the future, or build the roads and networks and research labs that will bring new jobs and businesses to our shores,” he declared in a 2,103-word speech that included numerous campaign-style jabs at his political opponents. “Now, more than ever, we must do these things together, as one nation and one...
  • The Economy Almost Always Does Worse During A President's Second Term

    01/21/2013 11:07:01 AM PST · by blam · 9 replies
    TBI ^ | 1-21-2013 | The Economists
    The Economy Almost Always Does Worse During A President's Second Term The EconomistJanuary 21, 2013The economic performance of American presidents tends to deteriorate during their second term THE economic auguries for Barack Obama’s second term are not good. By comparing the changes across eight economic indicators (GDP, industrial production, household incomes, house prices, unemployment, consumer confidence, stockmarkets and federal debt) during their presidential terms, The Economist has analysed the economic performance of all 11 two-term presidents since Teddy Roosevelt took office in September 1901. The first chart below shows that the average change in each of these economic indicators. With...
  • The Most Likely Cause Of The Next Recession...

    01/21/2013 8:08:21 AM PST · by blam · 19 replies
    TBI ^ | 1-21-2013 | Joe Weisenthal
    The Most Likely Cause Of The Next Recession... Joe WeisenthalJanuary 21,2013 Bill McBride at Calculated Risk has a great post up about the difficulty of recession forecasting. One difficulty is incentives. Many on Wall Street have a persistent incentive towards optimism. On the other hand, blog/media pundits have more of a pessimism bias, since bad news sells. McBride himself, who called the downturn and the upturn, writes: "Now one of my blogging goals is to see if I can get lucky again and call the next recession correctly." So what will cause the next recession? McBride thinks there are three...
  • The Ticking Trillion Dollar Debt Bomb

    01/18/2013 4:42:25 PM PST · by blam · 3 replies
    The Market Oracle ^ | Graham Summers
    The Ticking Trillion Dollar Debt Bomb Politics / US DebtJan 18, 2013 - 08:41 AM By: Graham Summers Since the EU Crisis went into overdrive in 2010, EU politicians have largely resorted to political posturing rather than implementing any actual financial solutions to the EU’s debt and banking crisis. To clarify that statement, we view a “real solution” as one that A) cleared bad debts from the system, B) brought debt levels down to manageable levels, and C) got the troubled country’s economy back on track. By way of example, real solutions would involve outright debt defaults, bank failures, and...
  • House GOP: We'll Raise Debt Limit for 3 Months if Senate Agrees to Produce a Budget

    01/18/2013 12:22:16 PM PST · by Zakeet · 34 replies
    Weekly Standard ^ | January 18, 2013 | John McCormack
    House Majority Leader Eric Cantor says in a statement: Fitch Ratings agency recently said, if the debt limit is raised without substantive deficit reduction, our nation's credit rating could be downgraded. The President's plan to simply borrow more money without any reform in Washington puts us all at risk. The first step to fixing this problem is to pass a budget that reduces spending. The House has done so, and will again. The Democratic Senate has not passed a budget in almost four years, which is unfair to hardworking taxpayers who expect more from their representatives. That ends this year....
  • GOLDMAN SACHS: BUY GOLD

    01/18/2013 11:58:21 AM PST · by blam · 20 replies
    TBI ^ | 1-18-2013 | Matthew Boesler
    GOLDMAN SACHS: BUY GOLD Matthew BoeslerJan. 18, 2013, 11:53 AM On Wednesday, Goldman Sachs upped the ante on its call that 2013 will mark the end of a long-running bull market in gold by introducing a new forecast: the bank's commodity strategists see the shiny yellow metal falling to $1200 per ounce by 2018. However, despite having a bearish 5-year forecast for gold prices, Goldman's 3-month forecast is actually quite bullish. In fact, strategists Damien Courvalin and Alec Phillips write in a note to clients today that they expect gold to reach $1825 per ounce over the next few months...
  • Kyle Bass Puts A Timeframe On His Infamous Prediction Of A Japanese Collapse

    01/18/2013 11:45:06 AM PST · by blam · 9 replies
    TBI ^ | 1-18-2013 | Julia La Roche
    Kyle Bass Puts A Timeframe On His Infamous Prediction Of A Japanese Collapse Julia La RocheJanuary 18, 2013CNBC screengrab Texan hedge fund manager Kyle Bass, the founder of Hayman Capital Management, was on CNBC from the floor of the NYSE talking Japan, housing and the Fed moments ago. Bass, who if famously bearish on Japan, has timestamped his trading saying that the turn will come 18 to 24 months from now, NetNet's John Carney pointed out on Twitter. He's been predicting a debt collapse for a long time, but with nothing to show for it.
  • House to vote on three-month debt limit hike

    01/18/2013 10:19:28 AM PST · by illiac · 62 replies
    MarketWatch ^ | 1/18/13 | Robert Schroeder
    WASHINGTON (MarketWatch) -- The House of Representatives will vote next week to authorize a three-month increase in the debt ceiling, House Majority Leader Eric Cantor said Friday. "Next week, we will authorize a three month temporary debt limit increase to give the Senate and House time to pass a budget,"
  • Poverty in the USA and European Union – USA Ranks with Czech Republic (Bulgaria Leads EU)

    01/18/2013 7:19:39 AM PST · by whitedog57 · 7 replies
    Confounded Interest ^ | 01/18/2013 | Anthony B. Sanders
    According to the US Census Bureau, the poverty rate in the USA soared to 15% by the end of 2011. Poverty, of course, is linked to unemployment and partial employment. Here is a chart of US poverty compared to the U6 measure of unemployment. Perhaps when the Census Bureau updates their poverty survey for 2012, it will have improved. Of course, the poverty numbers suffer from the infamous “devil is in the details” problem. The Heritage Foundation, for example, digs deeper in the causes and measurement of poverty. Poverty can include Section 8 housing, big screen televisions, food stamps and...
  • Gun control debate may be driving higher sales

    01/17/2013 10:04:57 PM PST · by 2ndDivisionVet · 14 replies
    The Washington Post ^ | January 17, 2013 | Sari Horwitz and Peter Finn
    LAS VEGAS — The United States appears to be experiencing a rec­ord run on military-style assault weapons, high-capacity magazines and some kinds of ammunition as buyers deluge stores in search of guns and bullets they fear will be banned by the Obama administration, according to firearms industry executives and market analysts. Even allowing for spikes in gun sales that follow every mass killing in the United States and attendant political debates about gun control, industry executives said the surge seems unprecedented. And it has emptied shelves of the kind of semiautomatic rifle that was used to kill 20 children and...
  • GOLDMAN: Gold Is Going To $1200

    01/17/2013 10:52:41 AM PST · by blam · 35 replies
    TBI ^ | 1-17-2013 | Matthew Boesler
    GOLDMAN: Gold Is Going To $1200 Matthew BoeslerJanuary 17, 2013The bank's central thesis is that the U.S. economic recovery finally takes off in 2013, and Goldman expects that to drive a selloff in the gold market as investors rotate away from traditional "safe-haven" investments. At the time, the analysts wrote, "We lower our 3-, 6- and 12-mo gold price forecasts to $1,825/toz, $1,805/toz and $1,800/toz and introduce a $1,750/toz 2014 forecast. While we see potential for higher gold prices in early 2013, we see growing downside risks." Now, Goldman has decided to up the ante a bit. Yesterday, its commodity...
  • Midday Market Minute: Gun Industry Thrives in Face of Ban Proposal

    01/17/2013 10:13:08 AM PST · by 2ndDivisionVet · 8 replies
    Gun stocks rose Wednesday, even as President Obama called on Congress to pass an assault weapon ban. The stock prices for Smith & Wesson Holding Co. (SWHC) and Sturm, Ruger & Co. (RGR) rose about 4%. The stock for Sturm, Ruger has risen 13% in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead. Retailers that specialize in guns have also done well. The stock price for Cabela's (CAB) surged 6% on Wednesday and has gained 20% over the last month. Dick's Sporting Goods (DKS) notched up slightly, and has...
  • Obama’s Dismal Record on Jobs, Explained with Common Sense

    01/17/2013 2:22:04 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 17, 2013 | Daniel J. Mitchell
    Economists may not agree on much, but we all agree that economic output is a function of capital and labor. Ask a Keynesian, a Marxist, an Austrian, a monetarist, or any economist, and they’ll all agree that living standards are determined by the quality and quantity of these two factors of production. So it should be very worrisome that there has been a big drop in the share of the population that is employed. Here’s a chart produced from Bureau of Labor Statistics data, showing labor force participation during the 21st Century.There was a big drop during the recession. That’s...
  • Food prices may be catalyst for 2013 revolutions

    01/16/2013 9:56:13 PM PST · by 2ndDivisionVet · 17 replies
    Yahoo! Finance / Market Watch ^ | January 16, 2013 | Matthew Lynn
    What is the trigger for a revolution? Sometimes it a brutal act of repression. Sometimes it a lost war, or a natural catastrophe, that exposes the failings of a regime. But more often than not, it is soaring food prices. The easiest prediction to make for 2013 is that everything we eat will once again rise sharply in price. So where will the revolutions start this year? Keep an eye on Algeria and Greece — and if you want to feel very nervous, Russia and China. And if you are smart, keep your money out of those countries as well....
  • Express Scripts lays off 332

    01/16/2013 10:07:23 PM PST · by 2ndDivisionVet · 8 replies
    The nation's largest pharmacy benefits manager is cutting its payroll. St. Louis-based Express Scripts Holding Co. announced its laying off 332 employees nationwide, including 103 workers at the former Medco Health Solutions site in Franklin Lakes and 12 at its facility in Willingboro. The layoffs are the latest in a series that followed the company's $29.1 billion acquisition of Medco in April...
  • 50 Shocking Questions That You Should Ask To Anyone That Is Not A Prepper Yet

    01/16/2013 8:32:36 PM PST · by blam · 45 replies
    TEC ^ | 1-16-2013 | Michael Snyder
    50 Shocking Questions That You Should Ask To Anyone That Is Not A Prepper Yet By Michael Snyder January 16th, 2013 Share this list of shocking questions with everyone you know that needs to wake up. Sometimes asking good questions is the best way to get someone that you care about to understand something. When I attended law school, I became very familiar with something called "the Socratic method". It is a method that has been traditionally used in law schools all over the United States. Law professors will bombard their students with questions, and the goal is to stimulate...
  • The Wages of Unemployment

    01/16/2013 6:47:05 PM PST · by OddLane · 9 replies
    Wall Street Journal ^ | January 15, 2013 | Richard Vedder
    From the mid-17th century to the late 20th century, the American economy grew roughly 3.5% a year. That growth rate has since declined significantly. When the final figures are in for 2012, the annual rate of real output growth for the first dozen years of this century is likely to be about 1.81%. What accounts for the slowdown? An important part of the answer is simple: Americans aren't working as much today. And this trend reflects more than the recession and sluggish economy of the past few years. The national income accounts suggest that about 70% of U.S. output is...
  • 10 Countries Hoarding Enormous Stockpiles Of Gold

    01/16/2013 6:51:59 AM PST · by blam · 17 replies
    TBI ^ | 1-16-2013 | Mamta Badkar
    10 Countries Hoarding Enormous Stockpiles Of Gold Mamta BadkarJanuary 16,2013AP Photo/Newmont Mining Germany is reportedly repatriating gold it has stashed with the New York Fed and the Bank of France, and some policymakers want to bring back all their gold in case the financial crisis worsens. People continue to debate whether gold is or should be considered money. However, this hasn't kept the world's central banks from increasing their gold reserves. The World Gold Council estimates that central banks have purchased 500 tons of gold in 2012, up from 465 tons last year. Analysts attribute some of the support in...
  • The Secular Bear Market Will End And The World - On A Sustainable Path By The End Of The Decade

    01/16/2013 6:39:42 AM PST · by blam · 16 replies
    TBI ^ | 1-16-2013 | John Mauldin
    The Secular Bear Market Will End And The World Will Be On A Sustainable Path By The End Of The DecadeJohn Mauldin, Thoughts From The FrontlineJanuary 16, 2013, 12:09 AM“There are decades when nothing happens and there are weeks when decades happen.” – Vladimir Ilyich Lenin "People only accept change when they are faced with necessity, and only recognize necessity when a crisis is upon them." – Jean Monnet "If something cannot go on forever, it will stop." –Herbert Stein As we begin a new year, we again indulge ourselves in the annual (if somewhat futile) rite of forecasting the...
  • Gun sale surge driven by fear, Obama says

    01/15/2013 4:29:06 PM PST · by 2ndDivisionVet · 88 replies
    The San Francisco Chronicle ^ | January 14, 2013 | Charles J. Lewis
    One month after the school massacre in Newtown, Conn., President Obama attributed the recent surge of weapons sales to efforts by gun control foes to arouse fears that the federal government would seize firearms. Obama said he would unveil details of his "sensible, common-sense" program for tighter gun controls later this week. The president, responding to questions at a White House news conference Monday, said those steps would include "an assault weapons ban that is meaningful," stronger background checks and measures to keep high-capacity magazine clips "out of the hands of folks who shouldn't have them." Asked at his news...
  • Magical Thinking on the Economy

    01/14/2013 6:20:31 PM PST · by Alex Baker · 6 replies
    Reality Bats Last ^ | January 13, 2012 | Bryce Buchanan
    We have once again reached the debt limit and most legislators want to blast right through as usual. Obama says he doesn’t even want to discuss it. Those who want some spending cuts are threatening to block continued spending unless there are real cuts. That brings us to two ploys that are being considered by the big spenders. First, some are saying the President doesn’t need Congress for spending authority. They say the 14th Amendment would allow Obama to spend without regard to the limit, even though the constitutions says all spending must be authorized by Congress. Second, some say...
  • Detroit-Windsor Near-Shoring [another facepalm]

    01/14/2013 6:15:59 PM PST · by PieterCasparzen · 6 replies
    Global Detroit ^ | 1/14/2013 | Global Detroit
    Near-shoring refers to the practice of attracting global businesses to Detroit whose growth and expansion is otherwise hindered by restrictive U.S. immigration laws. American businesses, particularly in industries critical to the new economy, have faced significant hurdles to engaging the world’s most talented workers because of restrictive U.S. immigration laws. Since the H-1B skilled worker visa cap was rolled back to 65,000, the demand by U.S. firms for these visas has far exceeded the supply, usually surpassing the cap only days after the application period is opened. As a result, U.S. firms have been forced to locate facilities in other...
  • The Welcoming Michigan Story [facepalm]

    01/14/2013 5:58:14 PM PST · by PieterCasparzen · 8 replies
    Welcoming Michigan - Building Immigrant Friendly Communities ^ | 1/14/2013 | Michigan Immigrant Rights Center
    We believe that being welcoming is the right thing to do, but that’s not the whole story. Michigan is the only state that lost population between 2000 and 2010. Considering how high unemployment in Michigan has been, some might say that’s a good thing — fewer people to compete for the jobs we do have. In 2008, the New Economy Initiative for Southeast Michigan, the Detroit Regional Chamber of Commerce, and the Skillman Foundation commissioned former State Representative Steve Tobocman to explore the idea of immigration as a potential strategy for reinventing the economy of that region. Fewer people to...
  • Shale Gas Will Fuel a U.S. Manufacturing Boom

    01/14/2013 3:09:10 PM PST · by 2ndDivisionVet · 7 replies
    MIT Technology Review ^ | January 9, 2013 | Kevin Bullis
    Chemical producers abandoned the U.S. in droves. Cheap natural gas is luring them back. People predicting a manufacturing renaissance in the United States usually imagine whirring robots or advanced factories turning out wind turbines and solar panels. The real American edge might be in something entirely more mundane: cheap starting materials for plastic bottles and plastic bags. The plummeting price of natural gas, which can be used to make a vast number of products, including tires, carpet, antifreeze, lubricants, cloth, and many types of plastic, is luring key industries to the United States. Just five years ago, natural gas prices...
  • A US Default Would Be The Financial Equivalent Of This Painting Of Hell

    01/14/2013 2:03:02 PM PST · by blam · 36 replies
    TBI ^ | 1-14-2013 | Brett LoGiurato
    A US Default Would Be The Financial Equivalent Of This Painting Of Hell Brett LoGiuratoJanuary 14, 2013 Earlier today, President Barack Obama almost dared Republicans to not increase the nation's borrowing limit in a White House press conference. "If Congressional Republicans refuse to pay America’s bills on time, Social Security checks, veterans benefits will be delayed," Obama said. "... Investors around the world will ask if the United States of America is in fact a safe bet. Markets could go haywire. Interest rates would spike for anyone who borrowed money." One analyst — Michael Feroli, the chief economist at JP...
  • Two Of The Biggest Problems In The Financial System Will Hit In 2013

    01/14/2013 10:55:48 AM PST · by blam · 14 replies
    TMO ^ | 1-14-2013 | Graham Summers
    Two Of The Biggest Problems In The Financial System Will Hit In 2013 Stock-Markets / Financial Markets 2013Jan 14, 2013 - 03:11 AM By: Graham Summers This week is options expiration week: the week in which various call and put positions will expire. Wall Street is notorious for using these weeks to gun the markets this way and that in order to insure that the greatest number of puts and calls expire worthless. So expect the market to be even more volatile than usual this week. Outside of this, the investment world is slowly emerging from its Central Bank policy...
  • Obama: ‘We need more revenue’ (a.k.a. tax increases)

    01/14/2013 9:24:20 AM PST · by Zakeet · 27 replies
    Washington comPost ^ | January 14, 2013 | Felicia Sonmez
    President Obama kicked off the final news conference of his first term by renewing his call for Congress to approve a “balanced” deficit-reduction package that includes both spending cuts and new revenues. Republican leaders have said repeatedly that the Jan. 1 fiscal cliff agreement ended any discussion of raising new revenue and that in upcoming negotiations they would deal only in spending cuts. Obama made clear that he does not agree. He reiterated that he is “open to making modest adjustments to programs like Medicare.” “The fact is, though, we can’t finish the job of deficit reduction through spending cuts...
  • No Wonder Our Horse Won't Run (It's weighed down by a thousand-pound ObamaCare jockey)

    01/14/2013 7:55:32 AM PST · by SeekAndFind · 3 replies
    American Thinker ^ | 01/14/2013 | Deane Waldman
    The U.S. economy is a thoroughbred racehorse that has won every past race. Now, it won't run at all. The trainers (Washington) first tried the "carrot" approach. They tempted the horse with apples (TARP funds), but somehow, the apples never got to the horse. Then they offered actual carrots (bailouts), but the faster rabbits (banks) ate them before the horse could. The thoroughbred just stood there. The trainers switched to the "stick." They took away the horse's oats and hay and gave his food to a favorite animal (Solyndra). They removed the racing saddle (first position on GM stock), gave...
  • 4th Quarter GDP Estimate Reduced to .8% from 1.5%

    01/14/2013 5:44:49 AM PST · by Kaslin · 24 replies
    Townhall.com ^ | January 14, 2013 | Mike Shedlock
    <p>Holiday sales of electronics and toys plunged this past Christmas season. Also of note, JPMorgan lowered its annualized 4th quarter GDP estimates down to .8% from 1.5%. Nonetheless, analysts see a silver lining to the data. They always do.</p> <p>Toys R Us reported a key sales figure declined in November and December, hurt by weak demand for videogames, electronics and toys and shoppers who pulled back because of Superstorm Sandy.</p>
  • Citi Reveals The Most Likely Debt Ceiling Endgame, And Why It's Bad News For The US Dollar

    01/13/2013 5:08:35 PM PST · by blam · 12 replies
    TBI ^ | 1-13-2013 | Joe Weisenthal
    Citi Reveals The Most Likely Debt Ceiling Endgame, And Why It's Bad News For The US Dollar Joe WeisenthalJanuary 13, 2013CitiFX guru Steven Englander has a new note out this evening titled: No coin + temporary debt ceiling extension + sequester = USD negative. In it he notes that the rejection of the trillion dollar coin idea to avert the debt ceiling is not alone a market moving event, but that the hard language taken by the White House that the choices boil down to clean lift or default raises the odds of a debt ceiling breach. His take: So...
  • Grassley on the Treasury Secretary Nomination

    01/12/2013 9:32:04 AM PST · by To-Whose-Benefit? · 3 replies
    Senator Charles Grassley ^ | Jan 10, 2013 | Senator Charles Grassley
    Grassley on the Treasury Secretary Nomination M E M O R A N D U M To: Reporters and Editors Re: Nomination of Treasury secretary Da: Thursday, Jan. 10, 2013 Sen. Chuck Grassley of Iowa today made the following comment on the President’s nomination of Jacob Lew as Treasury secretary. Grassley is a senior member and former chairman and ranking member of the Finance Committee, which will consider the nomination. “I intend to reserve judgment on the nomination until the vetting process is completed. The Finance Committee has a tradition of thoroughly vetting nominees, and the process works. The Treasury...
  • U.S. Spends $120M USD to Set up Rare Earth Research Center to Counter China

    01/12/2013 8:28:33 AM PST · by Ernest_at_the_Beach · 22 replies
    Dailytech ^ | January 10, 2013 3:30 PM | Jason Mick (Blog)
    Chinese price manipulation has taken its toll on the U.S. economy Rare earth metals are an increasingly integral part of everything from automobiles to television sets.  But the precious metals are tightly controlled by China, with an excess of 95 percent of current suplly coming from Chinese-owned mines and refineries.  The degree of control has allowed China to manipulate prices, cutting back on demand to sell less material for the same amount of profit, any businessperson's dream. I. New Private-Public Partnership Sets Aim on Chinese Mineral Hegemony The problem is that it takes several years or more to bring rare...
  • Where you might not shop in 2013

    01/12/2013 8:21:08 AM PST · by lowbridge · 24 replies
    yahoo/forbes ^ | january 10, 2013 | Tom Van Riper
    Christmas season was a disappointment. GDP growth is slowing. Taxes are going up. What’s the retail industry to do? There’s really only one choice: close more stores. Through the first nine months of 2012, closings were up 25% over the same period from the prior year (fourth quarter numbers aren’t available just yet). And Howard Davidowitz, chairman of retail banker and consultant Davidowitz & Associates, expects roughly the same pace of closings in 2013. “The consumer is 70% of GDP. If growth is decelerating, how are you going to have (retail) growth? You’re not, you’re going to go on closing...
  • White House Petition To Publicly Assay And Validate The US Treasury's 8,100 Tons Of Gold

    01/12/2013 7:13:51 AM PST · by Zakeet · 5 replies
    Zero Hedge ^ | January 11, 2013
    In the past few weeks there has been a veritable explosion of White House petitions ranging from the bizarre to the surreal to the outright absurd, including such demands as Texas (and other southern states) seceding, deporting Piers Morgan, not deporting Piers Morgan, creating a Joe Biden sitcom, and even making a total mockery out of the US, and global, monetary system and evading the debt ceiling using a cheap, platinum coin-based parlor trick. All of these are, for lack of a better word, a la carte distractions launched by bored American citizens, meant to evade the menial drudgery of...
  • GARY SHILLING: We're In For Another 5 Years Of Painful Deleveraging (Job Loss To Rise, 11.0%, 2015)

    01/12/2013 4:37:10 AM PST · by blam · 20 replies
    TBI ^ | 1-12-2013 | Mamta Badkar
    GARY SHILLING: We're In For Another 5 Years Of Painful Deleveraging (Job Losses To Rise, 11.0% - 2015) Mamta BadkarJanuary 12, 2013 The current domestic and global investing environment is dominated by deleveraging, according to Gary Shilling. In other words, households and institutions are slashing the debt on their balance sheets. And according to Shilling, we still have some way to go: "The deleveraging process for both these sectors has commenced, but it has a long way to go to return to the long run flat trends and we are strong believers in reversions to well-established trend. If we simply...
  • 6 Provocative Predictions for 2013… and Beyond

    01/11/2013 12:14:59 PM PST · by blam · 2 replies
    The Daily Reckoning ^ | 1-10-2013 | Addison Wiggin
    6 Provocative Predictions for 2013… and Beyond By Addison Wiggin 01/10/13 Someday, someone will fund an academic study identifying the crevice in the human brain that craves year-end predictions for the coming 12 months. Wherever it resides, it is undeniably strong and far more prevalent among the populace than the craving for news about, say, the “fiscal cliff” or the New York Jets’ quarterback saga. Within the finance sector, such predictions abound. “Macro surprises” from Morgan Stanley, “13 outliers for ’13” from Deutsche Bank, and the ever popular “outrageous predictions” from Denmark’s Saxo Bank. And you know what? These institutions...