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Keyword: economy

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  • California stinks, say CEOs. Hey, what do they know?

    05/09/2012 11:30:03 AM PDT · by Mark Landsbaum · 23 replies
    For the eighth year in a row California is ranked at the absolute bottom of 50 states for business, according to Chief Executive magazine. What do they know? The esteemed Gov. Jerry Brown says California’s just swell for business. Well, OK, Jerry isn’t and hasn’t been a CEO and this is an annual poll of chief executive officers who run actual businesses. He’s a politician and a “progressive.” Did we mention it’s been eight years in a row that California finished dead last? ...
  • If Obama can claim credit for killing bin Laden, why can’t he take credit for the economy today?

    05/09/2012 10:00:22 AM PDT · by Starman417 · 15 replies
    Flopping Aces ^ | 05-09-12 | Vince
    As President Obama and his administration are constantly telling us, the horrible economy is not his fault because he inherited the “Worst recession since the Great Depression”. One can certainly make that argument. You just can’t get it to stick. If you could however, what you’d basically be saying is that that 3 ˝ years after taking office the President of the United States is essentially helpless to impact the economy. “No, no, no!” his supporters would no doubt respond: “That’s not what we mean! The entire economy, nay the entire world’s economic system would have collapsed if President...
  • Unemployment Numbers Scam

    05/09/2012 4:48:22 AM PDT · by SJackson · 27 replies
    FrontPage Magazine ^ | May 8, 2012 | Arnold Ahlert
    - FrontPage Magazine - - Unemployment Numbers ScamPosted By Arnold Ahlert On May 8, 2012 @ 12:50 am In Daily Mailer,FrontPage | 17 Comments When the jobs data were released last week, it was revealed that only 115,000 new jobs were created, well below the 165,000 predicted by the media-anointed economic “experts,” and significantly below the 125,000 jobs-per-month pace required just to keep pace with the number of people entering the work force. Yet in an apparent paradox, the unemployment rate dropped from 8.2 percent to 8.1 percent. Presumptive Republican presidential candidate Mitt Romney explains half of it. “There is something about that 8.1 percent figure...
  • America Can Do Better

    05/09/2012 6:08:20 AM PDT · by Kaslin · 7 replies ^ | May 9, 2012 | Donald Lambro
    WASHINGTON - It should be clear by now that President Obama is running against the U.S. economy and as of last week the economy was beating him. A couple of weeks ago, as Mitt Romney was locking up the Republican presidential nomination, Obama's anemic polling numbers were hitting 50 percent, up from the mid-to-upper 40s and his prospects were looking up. Then in the past week, two bleak economic reports knocked him off his shaky pedestal and he was back in the 40s again and in a dead heat with Romney. The salient characteristic of Obama's presidency has been a...
  • Abbott and Costello on Unemployment

    05/09/2012 7:21:41 AM PDT · by Why So Serious · 5 replies
    COSTELLO: I want to talk about the unemployment rate in America . ABBOTT: Good Subject. Terrible times. It’s 9%. COSTELLO: That many people are out of work? ABBOTT: No, that’s 16%. COSTELLO: You just said 9%. ABBOTT: 9% Unemployed. COSTELLO: Right 9% out of work. ABBOTT: No, that’s 16%. COSTELLO: Okay, so it’s 16% unemployed. ABBOTT: No, that’s 9%. COSTELLO: Wait a minute. Is it 9% or 16%? ABBOTT: 9% are unemployed. 16% are out of work. COSTELLO: IF you are out of work you are unemployed. ABBOTT: No, you can’t count the “Out of Work” as the unemployed. You...
  • Adding Insult To Injury, Goldman Cuts US Q1 GDP To 1.9%

    05/09/2012 8:04:18 AM PDT · by Perdogg · 1 replies
    Zero Hedge ^ | Tler Durdan
    Remember that very disappointing Q1 GDP print of 2.2%? Well, Goldman just dragged it even lower. Wholesale inventories increased by 0.3% (month-over-month), less than the consensus had forecast. The result was also below the rate of wholesale inventory growth assumed by the Commerce Department in its advance estimate of Q1 GDP. As a result, the report implies a possible downward revision to Q1 GDP. Based on available data, we now expect that Q1 GDP will be revised down to +1.9% (annualized) from +2.2% originally report (the wholesale inventory report accounts for one tenth of the expected downward revision). Tomorrow’s trade...
  • Obama's Stimulus: A Documented Failure

    05/09/2012 5:49:21 AM PDT · by Kaslin · 10 replies ^ | May 9, 2012 | Terry Jeffrey
    What does President Barack Obama know about the economy and what the government can and cannot do to create jobs? A fair measure is the economic stimulus plan Obama pushed through Congress in his first month in office. Did it work? On Jan. 9, 2009, less than two weeks before Obama's inauguration, Christina Romer, who would chair Obama's Council of Economic Advisers, and Jared Bernstein, an adviser to Vice President-elect Joe Biden, published the incoming administration's analysis of the "job impact" they expected from Obama's stimulus. At the time, according to the Bureau of Labor Statistics, the national seasonally adjusted...

    05/09/2012 6:26:12 AM PDT · by blam · 27 replies
    TBI ^ | 5-9-2012 | Simone Fox
    MARKETS ARE CRATERING: SPAIN DOWN 3.7%, ITALY DOWN 2.1%, DOW FUTURES OFF 113 Simone Foxman May 9, 2012Scroll to bottom for updates. European shares are generally higher, but Spanish stocks are cratering, down 2.2 percent after yields on 10-year bonds rose past 6 percent for the first time since April 27. The spread between Spanish 10-year bonds and German bunds of the same maturity is at its highest since November 28 (via @LemaSabachthani). This follows a negative Asian session, where the Nikkei fell 1.5 percent and the Shanghai composite closed down almost 1.7 percent. U.S. futures are lower, point to...
  • The Great Worker Shortage Lie is Alive and Well

    05/08/2012 5:31:59 PM PDT · by anymouse · 4 replies
    The Economic Populist ^ | 12/17/2011 | Robert Oak
    Corporate offshore outsourcing lobbyists are on a roll, going on talk shows and writing propaganda plants as articles. White papers are falling like snow where even labor economics equations are manipulated. Every day we hear pure statistical fiction and politicians tout corporate lobbyist provided talking points, even in GOP debates. Why? Corporations are demanding more immigration and foreign guest worker Visas to displace Americans, repress wages, technology transfer and offshore outsource further. There is No Labor Shortage in the United States. None, and that includes high skilled labor. In 2010, there were 3,531,000 computer & mathematical related occupation workers. Yet...
  • Developed Nations At The Precipice Of Oblivion , As End Of The Debt Supercycle Draws Near

    05/08/2012 4:39:09 PM PDT · by blam · 13 replies
    TMO ^ | 5-8-2012 | TGR - John Mauldin
    Developed Nations At The Precipice Of Oblivion , As End Of The Debt Supercycle Draws Near Interest-Rates / Global Debt Crisis 2012 May 08, 2012 - 04:56 AM By: The Gold Report Are developed nations across the globe at the precipice of oblivion? Yep, says pundit John Mauldin. Fresh after the announcement of a new joint venture with Casey Research and the conclusion of his own Strategic Investment Conference in Carlsbad, Mauldin spoke to The Gold Report. He believes that investors have a small window to save their investments from the end of the debt supercycle, but they'll have to...
  • Why the Job Market Will Continue Shrinking

    05/08/2012 12:16:04 PM PDT · by SeekAndFind · 13 replies
    Zero Hedge ^ | 05/08/2012 | Charles Hugh Smith
    Via Charles Hugh-Smith of Of Two Minds blog,The paradox of an advanced post-industrial economy is that the number of jobs needed declines even as the cost of living rises.The fundamental dynamic of America's job market is simple: we need relatively few workers to provide the absolute essentials of life even as the cost-basis of the economy inexorably rises. In other words, there are fewer jobs even as the costs of maintaining a "middle class" life rise.Let's start by observing how all the financial data in the world does not necessarily describe the primary dynamics of an economy. There are...
  • Heritage Employment Report: Jobs Do Not Bloom in April

    05/08/2012 6:47:07 AM PDT · by 1rudeboy · 6 replies
    The Heritage Foundation ^ | May 4, 2012 | By Rea Hederman, Jr. and James Sherk
    The Bureau of Labor Statistics reported that the economy added 115,000 jobs in April and the unemployment rate declined to 8.1 percent from 8.2 percent. However, further declines in the percentage of Americans in the labor force explain this slightly lower unemployment rate. Indeed, the labor force participation rate dipped to a 30-year low as many unemployed workers simply left the labor force. The April report is further evidence that the job market has cooled from its more rapid growth in the first quarter. This slowdown will likely spur calls for more stimulus spending. However, government spending comes at the...
  • Maine Gov To Able-Bodied Unemployed: "Get Off The Couch And Get Yourself A Job"

    05/08/2012 7:32:15 AM PDT · by 2ndDivisionVet · 31 replies
    Real Clear Politics ^ | May 8, 2012
    (VIDEO AT LINK) "Maine’s welfare program is cannibalizing the rest of state government. To all you able-bodied people out there get off the couch and get yourself a job," Gov. Paul LePage (R-Maine) said at the state Republican convention this past weekend....
  • Economic Alert: If You’re Not Worried Yet…You Should Be

    05/08/2012 6:51:24 AM PDT · by Errant · 15 replies
    Alt-Market.Com ^ | Tuesday, 08 May 2012 | Brandon Smith
    For the past four years I have been covering the progression of the global economic crisis with an emphasis on the debilitating effects it has had on the American financial system. Only once before have I ever issued an economic alert, and this was at the onset of the very first credit downgrade in U.S. history by S&P. I do not take the word “alert” lightly. Since 2008 we have seen a cycle of events that have severely weakened our country’s foundation, but each event has then been followed by a lull, sometimes 4 to 6 months at a...
  • Economy: Blue States Fare Worse Than Red States Under Obama

    05/08/2012 5:14:31 AM PDT · by IBD editorial writer · 15 replies
    Investor's Business Daily ^ | 05/08/2012 | John Merline
    President Obama entered the national spotlight with a rousing 2004 Democratic convention speech that talked about how it was wrong "to slice-and-dice our country into red states and blue states." Last week he reiterated the point in a tweet to his followers, saying that "there are no red states or blue states, just the United States." But when it comes to the economic recovery, there has been a clear difference. It turns out, in fact, that blue states have done worse economically than have red states under Obama, according to an IBD analysis of various government economic data.
  • “America Has Become A Pińata…”

    05/07/2012 8:15:25 PM PDT · by blam · 2 replies
    The Daily Reckoning ^ | 5-7-2012 | Addison Wiggin
    “America Has Become A Pińata…” By Addison WigginMay 7, 2012 Baltimore, Maryland – “America’s national government has moved way beyond a political spoils system,” wrote Charles Goyette in his book The Dollar Meltdown. “A spoils system leaves the host alive so that a politician’s occasional ne’er-do-well brother-in-law can be put on the payroll.” In contrast, Goyette suggested, “America has become a pińata: Everybody gets a crack at it. Presidents and other elected officials pass the big stick around as a reward to those who help keep them in charge of the pińata party.” Goyette’s book came out in 2009. Since...
  • Dismal Beginning To Obama's Never-Ending Campaign

    05/07/2012 6:25:26 PM PDT · by raptor22 · 13 replies
    Politics: The Preezy of the United Steezy, as Barack Obama lets Jimmy Fallon refer to him, opens his re-election bid to a partially-filled stadium and a letter from his rival asking this year's key question: Where are the jobs? There were no faux Greek columns when the president with the composite girlfriend and taste for canine filets officially began his 57-state campaign Saturday at Ohio State University's 18,300-seat Schottenstein Center that was only partially filled with those wearing faded "hope and change" T-shirts hoping to get their student loans paid off. According to recent stats, only half of OSU graduates...
  • The Insanity of Being Human (LazVanity)

    05/07/2012 6:07:42 AM PDT · by Lazamataz · 231 replies
    May 7, 2012 | by Lazamataz
    Cats are genetically wired to behave in ways that humans see as insane. They often torment and play with their prey, for example, in a manner that we would call 'sadistic'. Sadism, to humans, is not a sane characteristic. Sometimes it seems that humans are also genetically wired to behave insanely. Let us look at the votes recently taken in Greece, France, and Germany. In all three cases, the concept of austerity (read: fiscal responsibility) has been completely rejected by their populations. In one case, France, the populace actually elected a labeled Socialist. The financial systems of most of Europe...
  • IMF says Arab Spring countries need USD90b (why should we foot the bill)

    05/07/2012 5:57:30 AM PDT · by Milagros · 34 replies
    MENAFN.COM ^ | May 5, 2012
    IMF says Arab Spring countries need USD90b MENAFN.COM 03/05/2012 (MENAFN) The International Monetary Fund's (IMF) director for Middle East and Central Asia, Masood Ahmed, stated that countries which were swept by the Arab Spring need USD90 billion, as they lack cash, reported The National. Ahmed added that during the current year, Arab oil importing countries will need USD90 billion, whereas the amount will be expected to grow to USD100 billion in 2013. He also said that jobs' creation is still a main priority, as the political unrest weakened trade and tourist links with the euro zone, deteriorating economies, thus, reducing...
  • Ever notice how the Arab oil interests control our economy?

    05/07/2012 5:14:29 AM PDT · by Milagros · 14 replies
    Subject: Ever notice how the Arab oil interests control our economy? Author: Chris Kloss Date: 13 Jul 2009 IMHO, if the price of oil had remained low, the financial crisis would have been of short duration. Oil price affects just about everything in our economy, not just gasoline for cars. A rapid increase in the price of oil requires a reallocation of the money people and businesses spend. Businesses must raise prices and, one result of this might be a lower demand. Businesses need more money to replace inventory. Persons and businesses on the edge cannot meet their financial obligations....