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Keyword: economy

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  • Consumer Confidence Rises (Still In A Hole) While Lumber And Gasoline Prices Soar

    02/14/2013 8:54:35 AM PST · by whitedog57 · 4 replies
    Confounded Interest ^ | 02/14/2013 | Anthony B. Sanders
    The Bloomberg Consumer Comfort Index rose to minus 35.9 in the period ended Feb. 10 from minus 36.3 in the prior week. But notice that the recession of the early 1990s saw a dip below -20 but quickly rebounded. We are seeing no such rebound from below -20 in this recession (although the NBER claims that it ended in June 2009). I am not so confident given the tenacity of negative consumer confidence. Over the past three months, we have seen some commodity prices skyrocket. First, lumber has soared 23.77%. Second, gasoline has soared 15.91%. While gold and silver are...
  • Plan for homeless raises concerns with state and IHS

    02/13/2013 9:29:19 PM PST · by Jyotishi · 12 replies
    Hawaii News Now - KGMB and KHNL ^ | February 10, 2013 | Mark Carpenter
    Honolulu (HawaiiNewsNow) - Accorrding to the 2012 Point-in-Time Count, there are nearly 6,300 homeless across the state. A proposed house bill would establish a program that helps those not from Hawaii return to their home state and reconnect with their family. State Representative Rida Cabanilla is proposing House Bill 533, which establishes the 'Return-to-Home' program and is seeking $100,000 in appropriations to fund the endeavor. "It's (the program) only for select individuals that can really benefit from the program, meaning they have support services, they want to go home, but they can't go home," Cabanilla said. "That sort of stuff."...
  • Sorry Mr. President, Manufacturing Will Not Save Us

    02/13/2013 4:18:12 PM PST · by blam · 31 replies
    Atlantic Cities ^ | 2-13-2013 | Richard Florida
    Sorry Mr. President, Manufacturing Will Not Save Us Richard Florida Feburary 13, 2013 In last night's State of the Union address, President Obama said: "Our first priority is making America a magnet for new jobs and manufacturing." He added: After shedding jobs for more than 10 years, our manufacturers have added about 500,000 jobs over the past three. Caterpillar is bringing jobs back from Japan. Ford is bringing jobs back from Mexico. After locating plants in other countries like China, Intel is opening its most advanced plant right here at home. And this year, Apple will start making Macs in...
  • Sarah Palin: #SOTUGottaBKiddingMe

    02/13/2013 11:46:41 AM PST · by onyx · 72 replies
    Sarah Palin Face Book ^ | February 13, 2013 | Sarah Palin
    If you missed President Obama’s State of the Union address last night, you didn’t miss much – especially if you watched any of his past four State of the Union addresses. We heard the same recycled rhetoric, and we heard his Orwellian declaration that the cornucopia of new federal programs he proposed, as well as his intention to eradicate world poverty, wouldn’t “increase our deficit by a single dime.” Of course, he glossed over the inconvenient facts. He boasted about job creation, but didn’t mention that real unemployment is higher today than when he took office. He touted all...
  • A Dormant US Inflation Indicator Just Spiked, And It's Got Me Thinking Of Weimar And Zimbabwe

    02/13/2013 6:55:47 AM PST · by blam · 10 replies
    TBI ^ | 2-13-2013 | Sam Ro
    Art Cashin: A Dormant US Inflation Indicator Just Spiked, And It's Got Me Thinking Of Weimar And Zimbabwe Sam RoFebruary 13, 2013, 3:58 AM Veteran trader Art Cashin has been more concerned about the threat of inflation in the U.S. than most. In a recent interview with Eric King of King World News, he notes that the once dormant threat of inflation could be waking up. From King World News: ...That having been said, the Federal Reserve Bank of St. Louis puts out what is called the ‘Monetary Stock.’ It is the ‘raw material’ of the money supply, and it...
  • Bank of America Serving Lawsuits, Not Customers

    02/13/2013 12:31:29 AM PST · by CWCoop · 9 replies
    The Washington Times Communities ^ | 02/10/2013 | Priscilla Jones
    If the banking industry had a “biggest losers” award, Bank of America Corp. (B of A) would win – and that’s not a good thing. B of A comes by its image problem honestly, and this may be the only way that “honesty” and “Bank of America” can be paired in a sentence without prompting laughter from bystanders. The company’s sins have been widely reported. B of A essentially crafts laws, much to the chagrin of its customers and taxpayers in general, that are protected in court by well-funded trial lawyers and enforced by the politicians they help keep in...
  • The Real State Of The Union Is Bleak

    02/12/2013 10:16:00 AM PST · by blam · 17 replies
    TBI - Kunstler.com ^ | 2-12-2013 | James Kunster
    The Real State Of The Union Is Bleak James Kunstler, Kunstler.comFebruary 12, 2013, 8:56 AMThe fog of chatter about Federal Reserve money-printing shenanigans, currency wars, fiscal intransigence, exchange rates, and alphabetized rescue operations conceals the central reality of the historical moment: that all industrial economies now face epic contraction, even rip-roaring China in its absurd and spectacular bid to become the latest drive-in utopia. The so-called advanced nations of the world are all sliding toward something less than they wish to be, and the so-called developing nations will backslide further into poverty and anarchy where development will never happen. The...
  • Five Million College Grads in Jobs that Don't Require a High School Diploma

    02/11/2013 8:05:16 PM PST · by 2ndDivisionVet · 48 replies
    Breitbart's Big Government ^ | February 11, 2013 | Wynton Hall
    A new study finds that 48% of recent college graduates are now in jobs that do not require a bachelor’s degree, and 37% hold jobs that require just a high school diploma. The study, titled “Why Are Recent College Graduates Underemployed? University Enrollments and Labor Market Realities," was conducted by the Center for College Affordability and Productivity using employment data from the U.S. Bureau of Labor Statistics. "Student-loan programs and federal assistance programs are based on some sort of implicit assumption that we're training people for the jobs of the future," says Richar Vedder, director of the center and a...
  • A Critical Turning Point In American History

    02/11/2013 11:20:37 AM PST · by Starman417 · 1 replies
    Flopping Aces ^ | 02-11-13 | James Raider
    We progress, marching forward leaving behind us a trail of yesterdays, filled with events large and small, assembling memories, but some of the more momentous occurrences rise to a superior level which we include in our collective “history.” In that wake of our advance some of those momentous waves swell further, rising to become events that only hindsight can identify as pivotal moments in that shared recollection. UTOPIA Such hindsight is not always 20/20.  We may be aware of the events as they unfold, but their significance and impact on our march forward is not always self evident and years...
  • A Temporary Majority - The problem Democrats can’t solve.

    02/10/2013 5:51:39 PM PST · by neverdem · 53 replies
    Weekly Standard ^ | February 18, 2013 | Jay Cost
    A tradition after each national election, presidential or midterm, is for the pundit class to pontificate on whether and how the results point to a realignment. This exercise dates back at least to the publication of The Emerging Republican Majority by Kevin Phillips in 1969, and it continues to this day. Now, of course, the hot topic is the so-called emerging Democratic majority, dominated by young people, nonwhites, and upscale social liberals. Pundits across the political spectrum are offering free advice to the Republican party on how to change its ways lest it face extinction at the hands of this...
  • Obama’s Plan for Spurring 2nd Term Economic Growth — More of the Same: Infrastructure, Green Energy

    02/10/2013 3:09:32 PM PST · by whitedog57 · 7 replies
    Confounded Interest ^ | 02/10/2013 | Anthony B. Sanders
    Reuters has an interesting piece on President Obama’s second term economic plans to be announced at The State of the Union address. “Obama previewed his economic growth plan in a speech to House of Representatives Democrats this week, telling them he would stress the importance of education, development of clean energy, and infrastructure. There were no details on the new initiatives for infrastructure, manufacturing, clean energy and education, elements first reported by the New York Times.” Isn’t this the same plan from his first term? Clean energy was a costly bust, and he still wants to have government control education...
  • John Williams: How To Survive the Illusion Of Economic Recovery

    02/10/2013 10:45:05 AM PST · by blam · 13 replies
    TMO ^ | 2-10-2013 | John Williams
    John Williams: How To Survive the Illusion Of Economic Recovery Economics / Great Depression IIFebruary 09, 2013 - 01:40 PM GMT By: The Gold ReportJohn Williams There is no economic recovery, and there are no signs that a recovery is coming, says Shadowstats.com author John Williams. In this Gold Report interview, he blames mal-adjusted inflation statistics for creating an alternate reality that overestimates economic activity in a way that is unsustainable. Williams warns that eventually the painful truth will be so difficult that even government manipulation won't be able to deny it and that is when hyperinflation will take its...
  • The Fed Is Beginning To Remove The Punchbowl… Are You Ready For What’s Coming?

    02/10/2013 10:26:58 AM PST · by blam · 28 replies
    TMO ^ | 2-10-2013 | Graham Summers
    <p>The Fed Is Beginning To Remove The Punchbowl… Are You Ready For What’s Coming?</p> <p>Consider its recent FOMC minutes released on January 3 2013.</p> <p>With regard to the possible costs and risks of purchases, a number of participants expressed the concern that additional purchases could complicate the Committee’s efforts to eventually withdraw monetary policy accommodation, for example, by potentially causing inflation expectations to rise or by impairing the future implementation of monetary policy.</p>
  • BlackRock: It's Way Too Early To Worry About Inflation

    02/10/2013 8:51:29 AM PST · by blam · 25 replies
    TBI ^ | 2-10-2012 | Sam Ro
    BlackRock: It's Way Too Early To Worry About Inflation Sam RoFebruary 10, 2013, 8:20 AMThere's no shortage of people who are freaking out about inflation, thanks to the Fed's ultra-easy monetary policy. However, convincing evidence of inflation has yet to appear in the economic data. Russ Koesterich, Chief Investment Strategist at BlackRock, has a new post on the iShares blog titled When to Worry About Inflation. He says concerns of inflation are premature for at least two reasons (verbatim): 1.There is no wage inflation. Overall wage growth in the United States remains sluggish. The reason: The labor market is healing...
  • America’s malls seek a life beyond retail

    02/09/2013 7:54:56 PM PST · by 2ndDivisionVet · 34 replies
    The Financial Times ^ | February 8, 2013 | Barney Jopson in New York
    The winter sunlight barely touches the depths of the abandoned store, where wires dangle from the ceiling, wood shavings scatter the floor, a King Lear shelf marker lies on the stairs, and a Led Zeppelin poster hangs spurned in a rack. The standalone building in Danbury, Connecticut, still bears the name of the Borders book chain that collapsed in 2011, and strewn on its cash register are fire-sale price lists for its fixtures and fittings. But nobody wanted them either. Instead its 8ft book cases stand bare and upright in the gloom, like the ruins of a bygone age. In...
  • Fertility and immigration: Global demographics, not domestic policy, will control who comes and...

    02/08/2013 6:41:30 PM PST · by neverdem · 13 replies
    LA Times ^ | February 8, 2013 | Jonathan V. Last
    Global demographics, not domestic policy, will control who comes and who goes. In Washington, politicians are trying to reform America's immigration system, again. Both President Obama and Republican Sen. Marco Rubio (R-Fla.) are proposing "paths to citizenship" for an estimated 11 million illegal immigrants. Other proposals abound, including finishing the border fence, creating a better E-Verify system for employers and passing the last Congress' Dream Act. All of these ideas, however, fundamentally misunderstand immigration in America: Future immigration is probably going to be governed not by U.S. domestic policy choices but by global demographics.... --snip-- ...that Puerto Rico's fertility rate...
  • Flashback: "Obama pledges to veto effort to undo automatic spending cuts"

    02/08/2013 12:30:34 PM PST · by Rusty0604 · 7 replies
    CBSnews ^ | 11/21/2011 | Kevin Hechtkopf
    "Already some in Congress are trying to undo these automatic spending cuts. My message to them is simple: No," Mr. Obama said from the White House briefing room Monday evening. "I will veto any effort to get rid of those automatic spending cuts to domestic and defense spending." November 21, 2011
  • Boeing New Aircraft Orders Implode From 183 To Just 2 In January

    02/08/2013 10:10:14 AM PST · by Zakeet · 28 replies
    Zero Hedge ^ | February 8, 2013
    After the now several week old exploding battery fiasco, Boeing is nowhere closer to resolving the recurring problem for its appropriately renamed Nightmareliner. But the worst for the company may be yet ahead: as the following chart from Stone McCarthy shows, January new aircraft orders collapsed from 183 in December to a meaningless 2 in January: a seasonally strong month, with some 150 orders a year ago, and more weakness to come as Boeing just warned its first Norwegian delivery due in April may be delayed. But while it was expected that the company's quality control failure would eventually catch...
  • The Worst Five Years Since the Great Depression

    02/08/2013 6:51:36 AM PST · by SeekAndFind · 22 replies
    Forbes ^ | 02/08/2013 | PETER FERRARA
    In February, 2009, I wrote for the Wall Street Journal an article entitled Reaganomics versus Obamanomics. The article explained that the emerging Obamanomics was pursuing exactly the opposite of every policy of the enormously successful Reaganomics, and predicted that it would produce exactly the opposite results. Well, the results are in, and under President Obama the American people have now suffered the worst 5 years since the Great Depression, as first explained by Steve McCann of the American Thinker on January 25. McCann writes, “From 2009 through 2012, the Obama cabal, and their allegiance to statist policies, has been in...
  • Decline in defense spending drags down GDP but experts say it's only the beginning

    02/07/2013 5:22:26 PM PST · by SkyPilot · 14 replies
    AL.com ^ | 5 Feb 13 | Leada Gore
    The drag to Gross Domestic Product caused by cuts in defense spending in the fourth quarter of 2012 could be just the beginning of a long, painful process, according to economic experts. GDP fell by 0.1 percent in the fourth quarter, the first such negative growth since 2009 and an economic wet blanket after a 3.1 percent increase in the previous quarter. A 22 percent drop in government defense spending was blamed for much of the decline. The fourth-quarter drop came as those in the Pentagon waited to see if Congress would reach a deal to avoid sequestration by the...