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Keyword: economy

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  • One Top Taxpayer Moved, and New Jersey Shuddered

    04/30/2016 10:36:42 AM PDT · by reaganaut1 · 36 replies
    New York Times ^ | April 30, 2016 | ROBERT FRANK
    Our top-heavy economy has come to this: One man can move out of New Jersey and put the entire state budget at risk. Other states are facing similar situations as a greater share of income — and tax revenue — becomes concentrated in the hands of a few. Last month, during a routine review of New Jersey’s finances, one could sense the alarm. The state’s wealthiest resident had reportedly “shifted his personal and business domicile to another state,” Frank W. Haines III, New Jersey’s legislative budget and finance officer, told a State Senate committee. If the news were true, New...
  • Election Season Reveals Rampant Economic Illiteracy Among Voters

    04/30/2016 8:03:16 AM PDT · by expat_panama · 45 replies
    Investors Business Daily ^ | May 2, 2016 | Editorial
    Education: Everybody talks about how the presidential primaries have uncovered intense voter anger at the political establishment. It’s actually revealed something more troubling: The widespread ignorance of basic economic truths that spans across the political spectrum. Has there ever been a bigger disconnect between economic reality and public perception? Polls taken during the primary season have found Democrats embracing socialism, Republicans rejecting trade, and majorities in both parties saying Wall Street is hurting the economy. That’s despite the general consensus among mainstream economists that none of these things is true. Take Democrats’ views on socialism... ...40% of Democrats say socialism...
  • Stand and Deliver - Paul’s Message to Peter

    04/30/2016 6:59:09 AM PDT · by Sean_Anthony · 2 replies
    Canada Free Press ^ | 04/30/16 | Dr. Robert Owens
    A basic truism of economics is that if you subsidize something you get more of it and if you penalize something you get less What we learn before we turn eighteen becomes the common sense of our later life. Just as the vast majority of people after careful consideration of all the candidates and the issues end up voting for the same party as their parents so too most people can never break free of the paradigm impressed upon them as they grew up. Many people repeat the time worn phrase, “Those who don’t learn from History are doomed to...
  • Why Sports Authority is throwing in the towel and closing all of its stores

    04/29/2016 6:54:23 PM PDT · by kaehurowing · 80 replies
    Pasadena Star News ^ | April 27, 2016 | Kevin Smith
    Why Sports Authority is throwing in the towel and closing all of its stores When struggling retailer Sports Authority filed for Chapter 11 bankruptcy last month in the face of more than $1 billion in debt, the company indicated that it had two options going forward. One of those was to shed underperforming stores and emerge from bankruptcy as an intact, but pared-down company. The other was to sell everything and cease operating. On Tuesday, the company appeared to choose the latter. . . . “With the minimum wage going up to $15 an hour and more people turning to...
  • Obama Admits Couldn't "Convince Americans Of Recovery", Bashes 'The Big Short' (book, movie)

    04/29/2016 11:21:18 AM PDT · by Lorianne · 21 replies
    Zero Hedge ^ | 28 April 2016 | Tyler Durden
    Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in...
  • Obama Admits Couldn't "Convince Americans Of 'Recovery'", Bashes 'The Big Short'

    04/28/2016 1:24:21 PM PDT · by Nachum · 47 replies
    Zero Hedge ^ | 4/28/16
    Despite his proclamation that he "saved the world from a Great Depression," the fact is that Obama will be the first President ever to not see a single year of 3% GDP growth - but only cynical fiction-peddlers would mention facts at a time like this. In yet more legacy-defending narrative, Obama told The NYTimes today that his biggest failure was being unable to sell his success in putting the American economy back on track to the American people (no matter the actual realities) careful to blame Republicans for slowing growth "by a percentage point or two." And then in...
  • Economic Growth Worst In Two Years As Investment, Durables Spending Fall

    04/29/2016 4:33:20 AM PDT · by expat_panama · 30 replies
    Investors Business Daily ^ | April 29, 2016 | JED GRAHAM
    After crawling ahead at just a 0.5% annual pace in the first quarter, the slowest in two years, the American economy is due for a bounce — but how high? The jury is out whether the economy has simply hit another speed bump or is facing a more fundamental slowdown, but some details in Thursday’s Commerce Department report point to the latter. U.S. GDP also fizzled at the start of 2014 and 2015, shrinking 0.9% in the former and edging up 0.6% last year... Yet it’s iffy whether the economy can rebound to the same extent... On the plus side,...
  • As GDP Flatlines, Obama Brags About His Economic Record

    04/29/2016 3:49:11 AM PDT · by IBD editorial writer · 12 replies
    Investor's Business Daily ^ | 4/28/2016 | Staff
    Legacy: The same day the 0.5% GDP growth came out, President Obama is quoted in the New York Times saying the country has done “better” than “any large economy on Earth in modern history.” Delusional doesn’t begin to cut it.
  • Trump Camp: Cruz-Fiorina Is the ‘Outsourcing Ticket’

    04/28/2016 11:52:29 AM PDT · by monkapotamus · 89 replies
    Breitbart ^ | April 28, 2016 | Julia Hahn
    “Carly Fiorina pioneered– pioneered– the practice of outsourcing jobs,” Miller said. “Her great legacy in business has been in finding a way to shift jobs to lower wage countries and replacing American workers with foreign workers. So I think we can all say that Ted Cruz, who supports offshoring jobs, and Carly Fiorina, who supports offshoring jobs, they’re now officially the outsourcing ticket.” “A critical issue for the state of Indiana is steel production and manufacturing,” Miller said, noting that, “on the crucial trade vote in 2015, Ted Cruz voted for Barack Obama’s trade bill that would destroy… the middle...
  • Oof: U.S. GDP growth a horrendous 0.5 percent in 2016 1Q

    04/28/2016 8:58:02 AM PDT · by Sean_Anthony · 11 replies
    Canada Free Press ^ | 04/28/16 | Dan Calabrese
    The new normal: The economy is not good. The economy has not been good for the entire Obama presidency Businesses aren’t spending money. Neither are consumers. And while the unemployment rate is made to look good, record low labor-force participation tells a different story. The economy is not good. The economy has not been good for the entire Obama presidency. And while Democrats hope we’re getting used to horrendous news like this, we shouldn’t be: The U.S. economy grew at its slowest pace in roughly 2 years, climbing just 0.5 percent in the first three months of 2016.
  • How would President Trump stop a business from moving overseas?

    04/28/2016 4:57:07 AM PDT · by expat_panama · 161 replies
    American Thinker ^ | April 28, 2016 | Silvio Canto
    Let me agree with Mr. Trump, and supporters, that it's a very bad idea for U.S. companies to move overseas and take those jobs elsewhere. I have personally seen the consequences of these moves in Mexico. You can see all of these companies in the industrial sectors of Monterrey, Queretaro, Tijuana, and other Mexican cities. They are down there hiring Mexicans, from floor sweepers to engineers to lots of people with university degrees. They are hiring professionals from the top schools south of the border. Again, I don't like it but what can a U.S. president really do about it?...
  • In 1 Out Of Every 5 American Families, Nobody Has A Job

    04/27/2016 6:20:35 PM PDT · by SeekAndFind · 24 replies
    TEC ^ | 04/27/2016 | Michael Snyder
    If nobody is working in one out of every five U.S. families, then how in the world can the unemployment rate be close to 5 percent as the Obama administration keeps insisting? The truth, of course, is that the U.S. economy is in far worse condition than we are being told. Last week, I discussed the fact that the Federal Reserve has found that 47 percent of all Americans would not be able to come up with $400 for an unexpected visit to the emergency room without borrowing it or selling something. But Barack Obama and his minions never bring...
  • The Mirage of a Return to Manufacturing Greatness

    04/27/2016 5:32:36 AM PDT · by expat_panama · 46 replies
    New York Times ^ | APRIL 26, 2016 | Eduardo Porter
    Half a century ago, harvesting California’s 2.2 million tons of tomatoes for ketchup required as many as 45,000 workers. In the 1960s, though, scientists and engineers at the University of California, Davis, developed an oblong tomato that lent itself to being machine-picked and an efficient mechanical harvester to do the job in one pass through a field. The battle to save jobs was on... ...These days, the battle to save American jobs has a different flavor... ...In America’s factories, jobs are inevitably disappearing, too. But despite the political rhetoric, the problem is not mainly globalization. Manufacturing jobs are on the...
  • Study: GDP Would Be 25% Bigger If Government Regulations Had Been Capped In 1980

    04/27/2016 3:52:11 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 4/26/2016 | Staff
    Red Tape: Economists scratch their heads when asked to explain the economy’s tepid growth over the past several years. A new study gives a possible answer: the growing, cumulative burden of federal regulations.
  • Joblessness is Killing People

    04/26/2016 11:37:09 PM PDT · by Tyrconnell · 40 replies
    The New York Sun ^ | April 26, 2016 | BETSY McCAUGHEY
    Soaring Suicides Emerge As a National Crisis Laid to Economic Stall Middle aged people laid off and unable to find work are taking another way out. They’re killing themselves. Suicide rates are soaring, according to federal data released last week. ... People in need of work are twice as likely to take their own lives as employed people, and people fired in their forties and fifties find it hardest to get hired again. That makes boosting economic growth a life- and- death issue.
  • How the state of the economy is literally killing people

    04/26/2016 7:50:39 AM PDT · by AngelesCrestHighway · 30 replies
    New York Post ^ | 04/25/16 | Betsy McCaughey
    Middle-aged people laid off and unable to find work are taking another way out. They’re killing themselves. Suicide rates are soaring, according to federal data released last week. Especially in economically depressed states and job-starved upstate New York. People in need of work are twice as likely to take their own lives as employed people, and people fired in their 40s and 50s find it hardest to get hired again. That makes boosting economic growth a life-or-death issue for many. But you wouldn’t know it listening to President Obama and Hillary Clinton. President Obama whitewashes reality, claiming the “American economy...
  • How Politics Influences the Stock Market: Not Very Much

    04/26/2016 4:28:48 AM PDT · by expat_panama · 8 replies
    New York Times ^ | APRIL 25, 2016 | Peter Eavis
    ...someone is going to call this the Hillary rally. As the chances of Mrs. Clinton’s nomination have strengthened, the Dow Jones industrial average has soared, rising 2,344 points, or 15 percent, from its recent low on Feb. 11. Other factors could have helped drive stocks higher... It wouldn’t be wise to also call it a Trump rally... ...Time and time again, political partisans have tried to recruit the stock market to their side. Most of the time it backfires... ...March 2009, days after The Wall Street Journal opinion section published an article headlined “Obama’s Radicalism Is Killing the Dow,” the...
  • Here's What's Keeping the Stock Market Up [BUYBACKS]

    04/26/2016 4:11:28 AM PDT · by expat_panama · 36 replies
    Fortune ^ | April 25, 2016 | Lucinda Shen
    Most people assume what has kept the market afloat this year after sinking 11% at the start of the year was a mixture of better news out of China, oil prices stabilizing, and indications that the Fed won’t raise rates as much as thought. But the real thing bouying the market could be something else: Stock buybacks. “Corporate repurchases are the main source of net demand for US stocks,” a team of Goldman Sachs analysts led by David Kostin noted in report out on Friday. Demand stemming from stock buybacks will help push up share prices—boosting the S&P 500 to...
  • Liberal Panic: HuffPo Worries Trump Will Trounce Clinton on Trade

    04/25/2016 5:54:21 PM PDT · by detective · 34 replies
    Breitbart ^ | 25 Apr 2016 | Julia Hahn
    The left-leaning Huffington Post published an article which seems concerned that Donald Trump could defeat Hillary Clinton in a general election contest due to his strong position on trade. In a Friday piece entitled, “Hillary Must Toughen Up On Trade In Case She Is Nominee Against Trump,” Dave Johnson, a fellow at Campaign for America’s Future, writes: If Hillary Clinton is going to be the Democratic nominee she had better get tough on trade – and mean it. One of Donald Trump’ main elements of appeal to his voters – if not the main appeal – is his stance on...
  • Saudi Arabia Approves Economic Reform Program

    04/25/2016 6:40:41 AM PDT · by Tolerance Sucks Rocks · 15 replies
    The Wall Street Journal ^ | April 25, 2016 | Margherita Stancati and Dahlia Kholaif
    RIYADH—Saudi Arabia, crimped by low crude prices, approved Monday a long-term blueprint for the kingdom’s economic transformation aimed at reducing its dependence on oil. The multiyear plan, dubbed “Saudi Vision 2030,” was approved by the cabinet, according to Saudi Arabia’s monarch, King Salman. The Saudi cabinet, in a statement carried by the official Saudi Press Agency, said the government’s economic council would be in charge of overseeing the vision’s implementation. Saudi officials later Monday were to present a broad overview of the country’s most extensive economic shake-up in decades. The steep drop in oil prices has given new urgency to...
  • The ‘most-hated stock rally’ could be primed for a May correction

    04/25/2016 3:55:20 AM PDT · by expat_panama · 11 replies
    Market Watch ^ | Apr 22, 2016 | Mark DeCambre
    Despite a flat day for stocks on Friday, the S&P 500 and the Dow are enjoying a stunning bull run that has them approaching records set back in May. However, this climb toward fresh heights may be ephemeral, according to technician Tom McClellan. In a series of notes, he said the stock market is nearly out of room to run higher because such a large swath of investors have already “turned bullish” over the past several weeks. “If ‘everyone’ is already bullish, then there is no one left to turn bullish, and to add incremental buying pressure to lift prices......
  • U.S. Government Is Now a Major Counterparty to Wall Street Derivatives

    04/24/2016 7:43:59 PM PDT · by Lorianne · 19 replies
    Wall Street on Parade ^ | 21 April 2016 | Pam Martens and Russ Martens
    According to a study released by the Federal Reserve Bank of New York in March of last year, U.S. taxpayers have already injected $187.5 billion into Fannie Mae and Freddie Mac, two companies that prior to the 2008 financial crash traded on the New York Stock Exchange, had shareholders and their own Board of Directors while also receiving an implicit taxpayer guarantee on their debt. The U.S. government put the pair into conservatorship on September 6, 2008. The public has been led to believe that the $187.5 billion bailout of the pair was the full extent of the taxpayers’ tab....
  • 5 Things Most People Don’t Understand About the National Debt

    04/23/2016 9:18:03 AM PDT · by expat_panama · 67 replies
    Money ^ | April 22, 2016 | Taylor Tepper
    Since this is an election year, you’re hearing a lot about the size of the national debt — and the financial imperative to expunge it before it gets passed on to our kids and grandkids. Donald Trump ... ...suggested earlier that it would be possible to pay off the entire national debt in about eight years... ...the only way to advance the debate is to get past the myths... #1) The federal government’s books are not like a family’s finances ...put yourself in the position of the government. Say you earn the typical American family income, and you spend and...
  • Question

    04/22/2016 10:40:39 PM PDT · by smalltownslick · 15 replies
    Free Republic ^ | 04-23-16 | Vanity
    Not sure how this will turn out. This was something I saw earlier today that I thought was important. When I went back through threads, I couldn't find it. When I searched online and found this image, it said Free Republic had removed it. What I need to know is - was it removed because it was proven false, or because it was a Getty image or some other copyright issue? Very important to know. Thank you.
  • In 1 in 5 Families in the U.S., No One Works

    04/22/2016 10:17:11 AM PDT · by Cheerio · 36 replies
    Washington Free Beacon ^ | April 22, 2016 | Ali Meyer
    There were one in five families in the United States in 2015, or 19.7 percent, in which no one in the family worked, according to data released by the Bureau of Labor Statistics. “Families are classified either as married-couple families or as families maintained by women or men without spouses present,” explains the bureau. “Families include those without children as well as those with children under age 18.” There were 81,410,000 families in the United States in 2015. Of those, there were 16,060,000 families in which no member was employed, or 19.7 percent of the total.
  • Democrats are winning their war on big banks — but look who else pays

    04/22/2016 5:10:50 AM PDT · by expat_panama · 44 replies
    New York Post ^ | April 21, 2016 | Charles Gasparino
    With all the fat-cat bashing from Hillary Clinton and her socialist foe Bernie Sanders, you’d think big banks have never stopped ripping off the poor, downtrodden consumer and are laughing all the way to their own bank vaults at Americans’ expense. The banks, of course, still make money, though increasingly a lot less... ... once-massive industry of huge profit margins and immense power in political circles is in retreat.... ...New regulations like Dodd-Frank, championed and imposed by President Obama and his minions, don’t let banks perform simple tasks... ...on top of the countless billions of dollars in settlements banks are...
  • Sears to close 78 stores this summer

    04/21/2016 4:07:42 PM PDT · by Olog-hai · 65 replies
    Associated Press ^ | Apr 21, 2016 7:06 PM EDT | Anne D’Innocenzio
    Sears Holdings Corp. will close another 78 stores — 68 Kmart units, and 10 Sears stores — as it looks to restore profitability. That accounts for about 5 percent of its store base, which is nearly 1,700 stores. The ailing company, based in Hoffman Estates, Illinois, had said in February that it would accelerate the closing of unprofitable stores following a “challenging” holiday season. The move announced Thursday is expected to generate a “meaningful level” of cash from the liquidation of store inventories and from the sale or sublease of some of the related real estate, it said Thursday. All...
  • Picture: Hardee’s Restaurant Installs “Self Order Stations”

    04/21/2016 6:16:47 AM PDT · by xzins · 159 replies
    Young Conservatives ^ | 20 Apr 16 | Andrew Mark Miller
    A little while back we told you about how the CEO of Hardees/Carl’s Jr. was thinking about replacing employees with machines thanks to the ridiculous minimum wage hike to $15.Well, it appears he has done it.It was only a matter of time before this started to happen and you can expect to see more of this in the future.
  • U.S. jobless claims hit 42-1/2-year low as labor market firms

    04/21/2016 8:59:13 AM PDT · by Nachum · 28 replies
    reuters ^ | 4/21/16 | Lucia Mutikani
    The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting an apparent sharp slowdown in economic growth in the first quarter could be temporary. While another report on Thursday showed a mild weakening in factory activity in the mid-Atlantic region in April, manufacturers were fairly upbeat about business prospects in the next six months. This, together with labor market buoyancy bodes well for a pick-up in economic growth in the second quarter. "The labor market continues to improve. If the apparent slowing in GDP in the first quarter was truly a...
  • Is There Any Ammo Left for Recession Fighting?

    04/21/2016 3:54:23 AM PDT · by expat_panama · 16 replies
    Real Clear Markets ^ | April 21, 2016 | George Perry
    A government's arsenal for moderating business cycles consists of fiscal and monetary policy. But the U.S. has little scope for using either if a new recession should now emerge. The Fed has only limited options left for stimulating the economy. And political gridlock may prevent any timely injection of fiscal stimulus. How big are the risks we face, and are we really out of options? Fortunately, continued expansion is the central forecast for the U.S. economy today. Janet Yellen's public assessments of the outlook are screened less for signs that the economy may need renewed policy easing and more for...
  • The Great American Economic Growth Myth——-Real GDP Gains Since 1999 Even Lower Than 1930s

    04/20/2016 1:57:02 PM PDT · by Lorianne · 11 replies
    Contra Corner ^ | 18 April 2016 | Lance Roberts
    While economists, politicians, and analysts point to current data points and primarily coincident indicators to create a “bullish spin” for the investing public, the underlying deterioration in economic prosperity is a much more important long-term concern. The question that we should be asking is “why is this happening?” From 1950-1980 nominal GDP grew at an annualized rate of 7.55%. This was accomplished with a total credit market debt to GDP ratio of less 150%. The CRITICAL factor to note is that economic growth was trending higher during this span going from roughly 5% to a peak of nearly 15%. There...
  • Intel Corp. (INTC) To Cut 12,000 Jobs Globally, Or 11% Of Its Workforce As PC Sales Plummet

    04/20/2016 1:20:58 PM PDT · by Lorianne · 5 replies
    International Business Times ^ | 19 April 2016 | Angelo Young
    Intel Corp. said Tuesday it will cut about 11 percent of its global workforce, or up to 12,000 positions, as the world’s largest chipmaker grapples with plunging global sales of desktop computers. The aggressive cost-cutting campaign will include the loss of executive staffers at the Santa Clara, California, company and will be completed by the middle of next year, the company said in a regulatory filing. The company also said it will book a one-time charge of $1.2 billion in the second quarter. The planned job losses come as Intel shifts its focus toward mobile applications, data centers and connectivity...
  • Donald Trump Likes Low Interest Rates But Says He'd Replace Yellen

    04/20/2016 4:35:09 AM PDT · by expat_panama · 77 replies
    Fortune ^ | April 19, 2016 | Stephen Gandel
    The GOP frontrunner says low interest rates are good for America, even if the Fed Chair isn’t. Donald Trump likes Janet Yellen’s low interest rates, but not the Federal Reserve Chairwoman herself. “I think she’s done a serviceable job,” Trump tells Fortune. “I don’t want to comment on reappointment, but I would be more inclined to put other people in.” As he’s said in the past, Trump tells Fortune that he would “absolutely” support proposals that would take power away from the Fed, and allow Congress to audit the U.S. central bank’s decision making. That said, Trump seems to like...
  • Nordstrom is cutting hundreds of jobs, confirming a terrifying new trend among wealthy shoppers

    04/19/2016 11:32:27 AM PDT · by huldah1776 · 67 replies
    Business Insider ^ | April 18, 2016 | Hayley Peterson
    Nordstrom said Monday it was slashing 400 jobs at its corporate headquarters. The move comes two months after the department store chain reported a 3% drop in comparable sales for its fourth quarter, and forecast that profit per share would fall 30% in the first half of this year. The cuts confirm a terrifying new reality for high-end retailers: Wealthy shoppers are reining in spending and — along with the rest of American consumers — refusing to pay full price for anything. Nordstrom inventory increased 12% in the most recent quarter — a sign that the chain is having a...
  • Simple Math Shows America Is Headed for an Economic Disaster

    04/18/2016 7:21:40 PM PDT · by george76 · 52 replies
    The Daily Reckoning ^ | March 30, 2016 | Jody Chudley
    Stan Druckenmiller ... when I look at the current picture of expected tax revenues combined with benefits promised to future generations, this is the most unsustainable situation I have seen ever in my career. The disaster that Druckenmiller sees coming for the United States is all about changing demographics and entitlement spending. They don’t add up to a sustainable situation. In 1940, entitlement payments, which include everything from disability payments to Social Security to Medicare, amounted to just over 20% of annual government spending in the United States. Today, entitlement spending has swelled to nearly 70% of the annual federal...
  • Rich States, Poor States: 9th Edition

    04/19/2016 6:43:38 AM PDT · by daniel1212 · 8 replies
    The American Legislative Exchange Council ^ | April 14, 2016 | Joe Horvath
    On Tuesday, the American Legislative Exchange Council (ALEC) Center for State Fiscal Reform released the ninth edition of the Rich States, Poor States ALEC-Laffer State Economic Competitiveness Index rankings. The study ranks all 50 states based on their economic outlook, calculated by weighing 15 variables in critical economic policy areas. Therefore, it is no surprise that of the states in the top 10 for economic outlook, six (Wisconsin, Florida, Indiana, Arizona, North Dakota and North Carolina) also qualified for the most recent State Tax Cut Roundup as states that substantially reduced taxes... Wisconsin earned an all-time best ranking of nine,...
  • If anything, globalization increased the cost of meat in America

    04/19/2016 5:19:56 AM PDT · by expat_panama · 26 replies
    American Thinker ^ | April 19, 2016 | Sierra Rayne
    Returning to this quote from Kevin Williamson's well-known article from National Review: The manufacturing numbers -- and the entire gloriously complex tale of globalization -- go in fits and starts: a little improvement here, a little improvement there, and a radically better world in raw material terms (and let's not sniff at those) every couple of decades. Go back and read the novels of the 1980s or watch The Brady Bunch... ...the cost of butter was not a major financial concern for well-to-do families in the 1980s, or now. But another of Williamson's points needs to be addressed: the...
  • If I were a shill for industry ...

    04/19/2016 5:05:05 AM PDT · by Eric Pode of Croydon · 1 replies
    TribLive ^ | 13 March 2008 | Donald Boudreaux
    A blogger recently complained that I (along with my fellow bloggers from George Mason University's Department of Economics) "seem to be shills for industry." This lazy accusation is as familiar as it is mistaken, for if I were truly a shill for industry ... • I'd be wealthy, raking in many more dollars than I now take in from my job as a professor at a state university. • I would not have come by my strong preference for freedom and free markets when I was still an undergraduate at Nicholls State University in south Louisiana. Corporations are not known...
  • Washington’s Business Bashing Stalls Economy

    04/19/2016 4:26:22 AM PDT · by expat_panama · 4 replies
    Investors Business Daily ^ | April 18, 2016 | Editorial
    Growth: Suddenly, all of the talk on Wall Street and Main Street is about whether the American economy is sinking into another recession. Who’s to blame? Try the White House and the political class. The warning signs of a sharp slowdown abound. Industrial production fell 0.6% in March and has now fallen 2% over the past 12 months. Corporate profits, real median wages, and business investment are basically flat.... ...U.S. growth has slowed down over the past six months. ... ...We keep asking: Where is the growth supposed to come from? Consider the battering that business and investors have been...
  • Why The Auto Loan Bubble Is As Important As The Student Loan Bubble

    04/18/2016 6:47:42 PM PDT · by george76 · 42 replies
    The Federalist ^ | April 4, 2016 | Edward Niedermeyer
    New car loans have become the new hot product and Wall Street, not car-loving Americans, is the real market. The growth of student loan debt has received no shortage of attention from politicians and the media in recent years, making it one of the top economic anxieties in post-mortgage-meltdown America. Behind the front-page investigations and populist political platforms, the numbers are indisputably chilling: student loan balances have surged from less than $18,000 per person to $25,000 per person in the ten years since 2005. But another class of debt is also growing at troubling rates without attracting anywhere near the...
  • Obama fires another round in the war on business

    04/18/2016 4:31:20 AM PDT · by expat_panama · 24 replies
    Yahoo Finance ^ | Rick Newman
    President Obama came into office railing against “fat cat bankers” and “corporate jet owners.” He’s going out much the same way... ...first target: Set-top boxes cable companies typically rent... ...cable industry, clearly surprised by Obama’s latest move, fought back, faulting the president for “inflammatory rhetoric” and for politicizing a matter that ought to be handled by independent regulators. No matter. Obama says his administration plans to take more such actions... ...With the exception of his support for free trade, Obama is center-left on most economic issues, favoring higher taxes on the wealthy... ...more rules and regulations to rein in business...
  • This California Town Wants to be the Next Marijuana Mecca

    04/17/2016 11:53:01 PM PDT · by 2ndDivisionVet · 16 replies
    NBC News ^ | April 16, 2016 | Heesun Wee, CNBC
    If California is the land of reinvention, the small desert city of Adelanto fits the bill. Roughly a two-hour drive east from Los Angeles, Adelanto was founded in 1915 by an inventor who wanted to sell land to World War I veterans. His dream never materialized and the region was taken over by orchard farms, then poultry ranches. The nearby George Air Force Base opened and eventually closed in the early 1990s. The city more recently made a solar play, but the energy market fizzled. City unemployment hovers at 14 percent, well above the national unemployment rate of under 5...
  • California minimum wage hike hits L.A. apparel industry: 'The exodus has begun'

    04/17/2016 7:35:53 PM PDT · by Beave Meister · 32 replies
    Los Angeles Times ^ | 4/15/2016 | Shan Li and Natalie Kitroeff
    Los Angeles was once the epicenter of apparel manufacturing, attracting buyers from across the world to its clothing factories, sample rooms and design studios. But over the years, cheap overseas labor lured many apparel makers to outsource to foreign competitors in far-flung places such as China and Vietnam. Now, Los Angeles firms are facing another big hurdle — California's minimum wage hitting $15 an hour by 2022 — which could spur more garment makers to exit the state. Last week American Apparel, the biggest clothing maker in Los Angeles, said it might outsource the making of some garments to another...
  • James Grant: ‘Something Is Going to Go Wrong’

    04/17/2016 3:03:53 PM PDT · by george76 · 8 replies
    Epoch Times ^ | March 9, 2016 | Valentin Schmid
    Chief editor of Grant's Interest Rate Observer debunks negative interest rates, banning cash, and helicopter money. ... Epoch Times spoke to Mr. Grant about the spotty track record of central bankers, deflation, gold and the gold standard, as well as negative interest rates and a ban on cash. A negative interest rate is not only a tax on saving, it is the destruction of saving. ... Negative interest rates are an attempt to tax thrift. The idea of earning dollar bills and putting those dollar bills in a bank and having them accumulate over time, the accumulation of which is...
  • The Place That Wants Donald Trump Most

    04/17/2016 5:27:13 PM PDT · by markomalley · 15 replies
    Wall Street Journal ^ | 4/17/16 | Bob Davis and Rebecca Ballhaus
    here isn’t much Jody Bostic believes in these days. The government has abandoned him, he feels. Local coal mines have laid him off so many times he opened a T-shirt store to make a living. Big-city media treat him and his neighbors like know-nothings. His remaining hope: Donald Trump will become president and use his business skills to bring jobs to this Appalachian mountain county. “Hey, in this county, things are going downhill. People are getting laid off. People are leaving,” says the 39-year-old former miner. “If Trump don’t get it, it will be another blow.” Mr. Trump won Buchanan...
  • It begins: In wake of California $15 minimum wage, garment firms moving out of Los Angeles

    04/17/2016 6:21:14 AM PDT · by SeekAndFind · 20 replies
    American Thinker ^ | 04/16/2016 | Thomas Lifson
    To the surprise of nobody but leftists, Governor Brown and the California State Legislature Democrats, jobs are beginning to evaporate visibly in the wake of California legislating a phased-in $15 an hour minimum wage. Even the Los Angeles Times can’t help but notice:  Last week American Apparel, the biggest clothing maker in Los Angeles, said it might outsource the making of some garments to another manufacturer in the U.S., and wiped out about 500 local jobs. American Apparel is far from the only firm affected, of course: Felix Seo has been making clothes for wholesale in downtown for 30...
  • Sport Chalet closing all of its stores

    04/16/2016 8:16:14 PM PDT · by chrisinoc · 66 replies
    OC Register ^ | 4/16/2016 | LILY LEUNG and LOU PONSI
    Sport Chalet announced on Saturday that it is closing all of its stores and has stopped selling goods online. "While our online store is no longer available, all Sport Chalet stores will remain open for several weeks, offering customers the opportunity to use their remaining rewards and gift cards, and to take advantage of great sales," the chain says on its website. Michelle De Leon, a department head at the Sport Chalet in Lake Forest, said employees found out about the store closure through their general managers on Thursday.
  • I was told yesterday that Trump is a liberal Democrat. My reply:

    04/16/2016 6:24:54 PM PDT · by Jim Robinson · 1,027 replies
    I was told yesterday that Trump is a liberal Democrat. My reply: Build the wall. Enforce the law. Deport them all. End sanctuary cities. End anchor babies. Slap a moratorium on muslim immigration. Cut the taxes. Cut the spending. Cut the regulations. Cut the government. Cut the debt. Cut the EPA. Repeal ObamaCare. Get the feds out and allow health insurance to be sold over state lines. Send education back to states. Get a handle on trade. Make trade deals in our own best interests. Bring back capital. Bring back manufacturing. Bring back jobs. Strengthen the economy. Defend the second...
  • Ted Cruz Is Right: His Tax Plan Would Supercharge GDP Growth

    04/16/2016 12:45:08 PM PDT · by 2ndDivisionVet · 83 replies
    Forbes ^ | April 16, 2016 | Tim Worstall
    Ted Cruz claims that his tax plan would supercharge economic growth, boosting GDP by as much as 5% a year for a decade or more. That’s, umm, an ambitious goal to be sure. However, there is actually good reason to believe that he’s right. As long as we’re careful about how we define GDP growth and also as long as we consider all the ways in which his plan will change the economy. This does mean being a little perverse in our assumptions: but also correct in our assumptions. The basics of the plan are that income taxes will be...
  • US industrial production fell 0.6% in March vs. 0.1% drop expected

    04/15/2016 6:42:21 AM PDT · by mykroar · 18 replies
    CNBC.com ^ | 4/15/2016 | Reuters
    U.S. industrial production fell more than expected in March as output declined broadly, the latest indication that economic growth braked sharply in the first quarter. Industrial output decreased 0.6 percent last month after a downwardly revised 0.6 percent drop in February, the Federal Reserve said on Friday. Industrial production has declined in six of the last seven months. Economists polled by Reuters had forecast industrial production slipping 0.1 percent last month after a previously reported 0.5 percent drop in February. Industrial production fell at an annual rate of 2.2 percent in the first quarter. The report joined data on retail...