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Keyword: economy

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  • Hillary's solution for our struggling economy

    07/29/2016 1:25:34 PM PDT · by Jim Robinson · 29 replies
    Hillary's solution for our struggling economy: Massive government spending. Massive tax increases and new taxes on individuals and corporations. Massive increase of regulations. Step up the war against coal, gas and oil. Bankrupt all traditional producers of energy. Massive new government spending on "green" technologies and "green" jobs. Bankrupt as many capitalist industries as possible. Implement universal government provided "free" healthcare. Double the minimum wage. Guarantee a minimum income to all "working" families (and non-working families). Free college education, free healthcare and free lunches for all. Open our borders, grant amnesty, citizenship, welfare and voting rights to all comers including...
  • U.S. GDP Grew Just 1.2% In Q2, Far Worse Than Expected

    07/29/2016 10:18:38 AM PDT · by MulberryDraw · 17 replies
    Inverster's Business Daily ^ | 7/29/16 12:24 PM Eastern | Ed Carson
    The U.S. economy expanded at a 1.2% annual rate in the second quarter, barely improving from Q1's downwardly revised 0.8% advance, the Commerce Department said Friday. Wall Street had expected a 2.6% pace.
  • The Next Recession Is Coming - Expect Around 0% Returns For The Next 7 Years

    07/29/2016 10:14:23 AM PDT · by blam · 19 replies
    The Market Oracle ^ | 7-29-2016 | John Mauldin
    Jul 29, 2016 John Mauldin The next recession is coming, and it will be severe. My friend Ed Easterling of Crestmont Research just updated his Economic Cycle Dashboard and sent me a personal email with some of his thoughts. Here is his chart (click on it to see a larger version). The current expansion is the fourth longest since 1954… but also the weakest. Since 1950, average annual GDP growth in recovery periods has been 4.3%. This time, average GDP growth has been only 2.1% for the seven years following the Great Recession. That means the economy has grown a...
  • Economists React to Second-Quarter Growth: ‘Very Weak’

    07/29/2016 7:24:19 AM PDT · by Brilliant · 11 replies
    WSJ ^ | Jul 29, 2016 | Anna Louie Sussman
    “Growth is up only 1.2% year over year. This report was very weak, and this report supports our forecast of a coming U.S. recession. Industrial production data convey that we are in a recession right now. We still expect a slowing of U.S. growth in the second half of the year as lower oil prices affect oil and gas credit and financial players. At the same time, we also expect light-vehicle sales are likely to slow, due to oversized used lease fleets crowding out new vehicle sales, as well as a reduction in new issuance of subprime auto loans. We...
  • U.S. Economy Grew at 1.2% Rate in Second Quarter (weaker than expected 2%)

    07/29/2016 6:15:51 AM PDT · by Red in Blue PA · 38 replies
    The American economy barely rebounded last quarter from its winter doldrums as weak spending by businesses overwhelmed an otherwise healthy consumer sector. Besides the drop in corporate investment, weaker government spending also held back growth, reinforcing a trend that has hobbled the recovery in recent years. The number was well below the 2 percent pace of expansion that economists had been looking for, highlighting the economy’s continued ability to disappoint experts who have been confident that better times are around the corner.
  • Are You Better Off Than You Were 7 Years Ago?

    07/29/2016 4:18:36 AM PDT · by expat_panama · 65 replies
    Investors Business Daily ^ | July 28, 2016 | Editorial
    Economy: While patting himself on the back in his speech at the Democratic Convention, President Obama said that "by so many measures, our country is stronger and more prosperous than it was when we started." Clearly, Obama needs a new ruler. ... it's whether the country is better off than it was when the recovery started... some of the numbers:   More in poverty: During Obama's "recovery," 3.1 million people fell into poverty, and the poverty rate climbed from 14.3% in 2009 to 14.8% in 2014, according to Census.Lower household incomes: Census data show that only the top 40%...
  • Hillary Clinton needs to wake up. Trump is stealing the voters she takes for granted

    07/28/2016 9:29:52 PM PDT · by 2ndDivisionVet · 18 replies
    The Manchester Guardian ^ | July 28, 2016 | Thomas Frank
    For the first time in living memory, the Republicans are outflanking the Democrats on the left. If they don’t rise to the challenge, they’ll be trounced The Republican party wants my liberal vote. This was the most shocking wave to wash over my brain last week as I sat in the convention center in Cleveland. It was more startling in its way than the storm of hate that I saw descend on former GOP hero Ted Cruz, stranger than the absence of almost all the party’s recent standard-bearers, weirder than the police-state atmosphere that hovered over the streets of the...
  • Millennials Cause Home Ownership to Drop to It's Lowest Level Since 1965

    07/28/2016 1:21:21 PM PDT · by GuavaCheesePuff · 75 replies
    NBC News ^ | July 28, 2016 | Diana Olick
    After rising just over a decade ago to its highest level ever, the nation's home ownership rate fell to match its all-time low and could drop even further in the months to come. In the second quarter of this year, the rate fell to 62.9 percent, not seasonally adjusted, which is the same as it was in 1965, when the U.S. Census started tracking the metric. During the epic housing boom in the mid-2000s, the rate soared as high as 69.2 percent. That was when politicians touted the so-called "ownership society."
  • Is U.S. Manufacturing Really in Decline?

    07/28/2016 5:37:52 AM PDT · by expat_panama · 102 replies
    Strategy+business ^ | July 26, 2016 | Daniel Gross
    Did you hear that U.S. manufacturing just had another big month? That output has risen about 20 percent in the past six years? That industrial capacity is actually expanding?Probably not. At most times, and especially in election season, the talk surrounding U.S. manufacturing is one of relentless decline: a loss of jobs, the shutting down of factories, increased competition from foreign countries, a global war in which the U.S. seems to be on the losing end.And of course, it’s true. At some level, manufacturing has declined dramatically — as a direct employer of American workers. According to the Bureau of...
  • If You Liked Obamanomics, You'll Love Hillarynomics

    07/28/2016 3:14:23 AM PDT · by expat_panama · 11 replies
    Investors Business Daily ^ | July 27, 2016 | Editorial
    Democratic Convention: What can you expect from economic policy from a Hillary Clinton White House? You already know. Just look at the last 7-1/2 years under President Obama. Those expecting a new direction for the economy under a future possible President Clinton will likely be deeply disappointed... ...Tanden, was clear on one thing: "All of our policies must raise median wages for American workers ... (Hillary Clinton) is going to focus her presidency on rising inequality and stagnant wages." While laudable, how would Clinton do that? The answer is:... ..."shovel-ready" infrastructure projects... ...leaving the American taxpayers with trillions of dollars...
  • Federal Reserve: 'Risks Diminished'; Next Rate Hike In May 2017?

    07/28/2016 3:05:00 AM PDT · by expat_panama · 23 replies
    Investors Business Daily ^ | July 27, 2016 | ED CARSON
    The Federal Reserve left interest rates unchanged Wednesday afternoon at the end of its two-day policy meeting. Policymakers said "near-term risks" to the economy have faded, but investors generally saw the central bank in no rush to raise rates. Key points from the FOMC policy statement: "Near-term risks to the economic outlook have diminished." "On balance, payrolls and other labor market indicators point to some increase in labor utilization in recent months." "Household spending has been growing strongly but business fixed investment has been soft." "Inflation is expected to remain low... ...Fed statement was a tiny step toward an eventual...
  • Who's on first?

    07/27/2016 3:36:02 PM PDT · by Osage Orange · 14 replies
    me ^ | unknown | unknown
    Absolutely Brilliant ! ! ! COSTELLO: I want to talk about the unemployment in America. ABBOTT: Good Subject. Terrible Times. It's 5.6%. COSTELLO: That many people are out of work? ABBOTT: No, that's 23%. COSTELLO: You just said 5.6%. ABBOTT: 5.6% Unemployed. COSTELLO: Right 5.6% out of work. ABBOTT: No, that's 23%. COSTELLO: Okay, so it's 23% unemployed. ABBOTT: No, that's 5.6%. COSTELLO: WAIT A MINUTE. Is it 5.6% or 23%? ABBOTT: 5.6% are unemployed. 23% are out of work. COSTELLO: If you are out of work you are unemployed. ABBOTT: No, Obama said you can't count the "Out of...
  • Investors Beware of 'False Profits' In this Market

    07/27/2016 4:17:56 AM PDT · by expat_panama · 11 replies
    Real Clear Markets ^ | July 27, 2016 | Doug Kass
    "Beware of false prophets, who come to you in sheep's clothing but inwardly are ravenous wolves." -- Matthew 7:15 I try to exclude personal experiences from my diary and only include observations related to the markets. But I have to start the morning by saying that the past few days have been moving ones of monumental importance on multiple fronts for myself and my family. Let's just leave it at that. As for Wall Street this morning, aggressive liquidity continues to buoy stocks. The money is coming from a combination of the world's central banks and historically large share buybacks,...
  • To Speed Economic Recovery, Release the Brakes

    07/26/2016 4:14:10 AM PDT · by expat_panama · 11 replies ^ | July 25, 2016 | A. Barton Hinkle
    Back in January of 2015, Medarva asked for the state's permission to move two operating rooms from their current location at the Stony Point Surgery Center to the West Creek Medical Park, about a half-hour's drive away. You might think that the decision about whether Medarva moves a couple of operating rooms ought to be up to Medarva, and you would be right about that—in theory.In Virginia, however, such decisions require the state's approval, because the state maintains a Certificate of Public Need (COPN) law. Congress forced states to adopt such laws to address problems created by federal cost-plus reimbursement...
  • Hastings stores to close

    07/25/2016 1:39:17 PM PDT · by SandRat · 23 replies
    Sierra Vista Herald ^ | Staff/HERALD REVIEW
    SIERRA VISTA — Five weeks after filing for bankruptcy, all Hastings locations are set to close by the end of October. The Amarillo, Texas-based entertainment retail chain operates more than 120 stores across the country, including a Sierra Vista location that has been in business for more than 20 years. As of July 13, all stores stopped accepting gift cards and store credit, and following the June 13 Chapter 11 filing in a Delaware federal court, the customer buy-back program was suspended and the video game rental program ended.
  • Opinion: Why it still makes sense to buy stocks and bonds at record prices

    07/25/2016 4:10:47 AM PDT · by expat_panama · 21 replies
    Market Watch ^ | July 24, 2016 | Philip van Doorn
    Are you tired of stories speculating about when the Federal Reserve will raise interest rates? Maybe it’s time to stop reacting to them, because they can damage your investment portfolio. If you had panicked last year, fearing a change in central-bank policy would drag down prices of bonds and stocks with high dividend yields, you would have missed out on plenty of income and price gains. (The Fed eventually raised rates, in December, but stocks and bonds today are still near record highs.) “The market can make you do things at precisely the wrong time. Staying the course during times...
  • Democrats Need to Stop Insisting That Everything Is Going Well

    07/24/2016 2:03:24 AM PDT · by 2ndDivisionVet · 54 replies
    Current Affairs ^ | July 23, 2016 | Nathan J. Robinson, editor
    Trivializing people’s problems and fears is not a good way to win support. Among members of the liberal press, the reaction to Donald Trump’s RNC acceptance speech has been almost unanimous. It was, they say, “grim,” “angry,” and “dark.” Trump painted a “Mad Max” picture of the United States, as a nation is crisis, beset by crime, terrorism, unemployment, and despair. This picture, say the commentators, is false. Trump exaggerated crime rates, which are actually going down rather than up. He scare-mongered about immigrants and terrorism, creating threats where there are none. And he suggested that the world is going...
  • General Electric, Honeywell Post Downbeat Revenue

    07/22/2016 2:56:57 PM PDT · by BenLurkin · 4 replies
    WSJ ^ | 07/22/2016
    GE’s challenges are multiple but consistent, Chief Financial Officer Jeffrey Bornstein said, borne out of slow global economic growth and turbulent geopolitical times—everything from the U.K. vote to leave the European Union to Middle East turmoil and currency shifts. “All this uncertainty generally limits growth,” Mr. Bornstein said. The company forecasts revenue will improve over the remainder of the year, helped by an anticipated surge in power turbine shipments. “Bottom line, we are seeing organic growth accelerating in the second half,” Chief Executive Jeff Immelt said on a conference call Friday. While the company’s oil and gas and transportation businesses...
  • GOP Whiffs On Bank Reform, Big Time

    07/22/2016 4:07:28 AM PDT · by expat_panama · 70 replies
    Investors Business Daily ^ | July 21, 2016 | Editorial
    Financial Crisis: The Republican platform put forward in Cleveland is a lively and conservative document, full of great ideas to make America great again. But one thing stands out as a truly bad idea: reviving the partly-repealed Glass-Steagall Act. "We support reinstating the Glass-Steagall Act, which prohibits commercial banks from engaging in high risk activities," says the platform document. What? It was one of the Democrats' big talking points during the 2007-2008 financial crisis and after that a major cause of the panic was due to Bill Clinton in 1999 foolishly going along with the Republicans to get rid of...
  • 3 Reasons to Worry That Stock Rally’s End Is Near

    07/21/2016 3:49:45 AM PDT · by expat_panama · 7 replies
    Barrons ^ | July 20, 2016 | Michael Kahn
    In technical analysis we are taught to trade what we see and under that directive the stock market, or at least the larger capitalization end of it, has a significant breakout in place. After nearly two years of sideways trading, albeit with some large swings, the indexes finally gave what should be an important buy signal. But is it really? It sure walks like a duck, as the old saw goes. But it is quacking like a platypus.......What really bothers me is the lack of dissent in the bullish chorus...   ... many sentiment surveys still show doubt in this rally....
  • These 3 Conservative Policies Have Allowed Indiana’s Economy to Flourish

    07/20/2016 11:22:35 AM PDT · by BenLurkin · 8 replies
    Daily Signal ^ | 07/06/2016 | Sen. Dan Coats
    1. Reduce Bureaucratic Red Tape Republican leaders made it easier to do business in Indiana. They reduced bureaucratic red tape and eliminated many unnecessary regulations. Rather than burdening employers and trying to micromanage how businesses operate, Republicans put in place policies that have allowed our state to grow. 2. Balance the Budget The state put its fiscal house in order. Statehouse leaders cut government spending, balanced the budget, created a surplus, and built a near record reserve fund. Indiana earned a triple-A credit rating in 2010 and has maintained it ever since. These strategies help put the state in a...
  • G.O.P. Joins Democrats Urging Glass-Steagall’s Revival. (Don’t Hold Your Breath.)

    07/20/2016 4:20:02 AM PDT · by expat_panama · 53 replies
    New York Times ^ | JULY 19, 2016 | JEFF SOMMER
    Attacking big banks is as American as apple pie. But it’s a new entry on this year’s Republican menu. In a convention surprise, the Republicans inserted a plank in the party platform calling for the restoration of a Depression-era law, the Glass-Steagall Act, that separated commercial and investment banking. The law was repealed in 1999 during the Clinton administration, with bipartisan support, at the behest of the big banks, which said they needed to combine their investment and commercial functions in order to compete on the global stage. It didn’t turn out so well, of course... ...What the Republican Party...
  • Morning Consult poll: Does Hillary have a problem with low-income voters?

    07/19/2016 3:42:27 PM PDT · by Hojczyk · 17 replies
    Hot air ^ | July 19,2016 | ED MORRISSEY
    Donald Trump – the Republican presidential candidate who often boasts to be “really rich” – is leading Democratic candidate Hillary Clinton among American voters making the most from their jobs. According to a national survey of 23,347 registered voters conducted by Morning Consult in June and the first two weeks of July, Trump leads Clinton, 45 percent to 41 percent, among voters making more than $100,000 annually. He also leads Clinton by 3 points, 44 percent to 41 percent, among voters who make between $50,000 and $100,000. But Clinton has a larger lead over Trump among the less wealthy and...
  • Student Debt Helps, Not Harms, the U.S. Economy, White House Says

    07/19/2016 12:02:51 PM PDT · by Brilliant · 34 replies
    WSJ ^ | July 19, 2016 | Josh Mitchell
    The White House just released a big report on student debt that contains all the familiar horrors about for-profit schools, indebted dropouts and students defaulting on their loans. But it has an interesting conclusion: That growing stack of $1.3 trillion in student debt is helping, not hurting, the U.S. economy. That conclusion is sure to rankle the many student advocates and special-interest groups—from real-estate agents to employers seeking new tax breaks for their young workers—that argue student debt is a big “drag” on the economy. (Hillary Clinton and Donald Trump have each decried the rise in student debt.) But the...
  • What’s the Cause and Effect of Plummeting Public Firms?

    07/19/2016 4:06:24 AM PDT · by expat_panama · 9 replies
    U.S. Chamber of Commerce Foundatio ^ | July 15, 2016 | Bret Swanson
    Facebook held a high-profile initial public offering in 2012, but the number of public companies has been on the decline. (Photo via Wikipedia.) Takeaways What's the "correct" number of public firms in America? It's unclear, but the total number of IPOs has been dipping. An underreported story of the last two decades is the sharp decline in the number of publicly traded U.S. firms. In 1996, U.S. stock markets boasted 7,322 listed firms. By 2015, however, that number had dropped by more than half, to 3,200. If we adjust for population, the U.S. had 2.2 public firms per hundred...
  • The Only Escape From A Global Depression

    07/18/2016 9:02:43 AM PDT · by blam · 28 replies
    The Daily Recokening ^ | 6-29-2016 | Richard Duncan
    Most people are convinced that the government is a drag on the economy, that it should not be allowed to spend any more money. They believe that we’ve spent far too much as it is. Therefore, they believe we must pay for our sins and spend less. It’ll be tough for a few years, they admit. But soon we’ll be back in the laissez-faire garden of Eden. That argument is dangerously wrong. It’s like someone taking a hot air balloon high up in the sky, then suddenly panicking because he’s too high. So he decides to turn off the hot...
  • Why Land and Homes Actually Tend to Be Disappointing Investments

    07/18/2016 4:55:40 AM PDT · by expat_panama · 72 replies
    New York Times ^ | ROBERT J. SHILLER
    Buy land: They’re not making it anymore. That often repeated adage sounds like good financial advice. But over the long run, it hasn’t been. Despite solid price increases over the last few years, land and homes have actually been disappointing investments. It’s worth considering why. Let’s start by looking at the numbers...   ...Over the century from 1915 to 2015, though, the real value of American farmland (deflated by the Consumer Price Index) increased only 3.1 times, according to the Department of Agriculture. That comes to an average increase of only 1.1 percent a year — and with a growing population,...
  • China strikes and protests up 20%

    07/17/2016 9:25:13 PM PDT · by TigerLikesRooster · 8 replies
    China Economic Review ^ | July 15, 2016
    China strikes and protests up 20% Friday, July 15, 2016 Strikes and protests in China during the first half of 2016 rose almost 20% compared to a year earlier as an early boom in construction-sector unrest gave way to sustained growth in collective action by workers in transportation, the Financial Times reports. In June, China saw 169 strikes nationwide, down about 5% year on year, according to figures provided by China Labour Bulletin’s strike map. But it saw a total of 1,456 strikes and protests as of end-June, up 19% from the first half of 2015, according to the Financial...
  • Helicopter Money——The Biggest Fed Power Grab Yet

    07/16/2016 10:01:58 PM PDT · by amorphous · 8 replies
    Stockman's Corner ^ | 14 July 2016 | David Stockman
    The Cleveland Fed’s Loretta Mester is a clueless apparatchik and Fed lifer, who joined the system in 1985 fresh out of Barnard and Princeton and has imbibed in its Keynesian groupthink and institutional arrogance ever since. So it’s not surprising that she was out flogging—-albeit downunder in Australia—- the next step in the Fed’s rolling coup d’ etat. We’re always assessing tools that we could use,” Mester told the ABC’s AM program. “In the US we’ve done quantitative easing and I think that’s proven to be useful. “So it’s my view that [helicopter money] would be sort of the next...
  • This woman may be biggest opposition to Erdogan

    05/27/2016 5:11:42 PM PDT · by MinorityRepublican · 10 replies
    Al-Monitor ^ | May 26, 2016 | Sukru Kucuksahin
    After weeks of uncertainty and foot-dragging, the Appeals Court this week made a critical ruling, setting the stage for a potential shakeup in Turkish politics that may block President Recep Tayyip Erdogan’s drive for an executive presidency. The court gave the green light for the Nationalist Action Party (MHP) to hold a convention requested by in-house dissidents seeking to remake the party, whose erosion in recent years has played directly into Erdogan’s hands. Leading the dissidents is Meral Aksener, a rare female heavyweight on Turkey’s political scene, whose fortunes may now change not only the MHP’s but also Turkey’s course.
  • Measuring Presidential Agendas, Mapping the Future of Entrepreneurship Policy

    07/15/2016 4:36:59 AM PDT · by expat_panama · 4 replies
    Kauffman Foundation ^ | 07/11/16 | Jonathan Ortmans
    Of course, both major United States presidential candidate contenders — Hillary Clinton and Donald Trump — have said they will create more jobs in the United States by supporting entrepreneurs. Having just discussed in this blog some of President Barack Obama’s accomplishments to this end, it is time to look forward into what details we know so far as to the presidential candidates’ agendas to help entrepreneurs form and scale new firms. Former AOL co-founder Steve Case, author of The Third Wave: An Entrepreneur’s Vision of the Future, makes the case that politicians who ignore the new generation of entrepreneurs...
  • Grappling With The Paradox Of Theft [NATIONS W/ MORE DEBT ARE RICHER]

    07/14/2016 5:01:58 AM PDT · by expat_panama · 17 replies
    Investors Business Daily ^ | July 13, 2016 | TODD G. BUCHHOLZ a family grows wealthier, it is less likely to fall into deep debt, default and bankruptcy... ...the opposite is often true for the finances of individual countries -- wealthier nations may pile up proportionately more debt than poorer nations! Amid the onslaught of the Great Recession in 2010, developing countries like Mexico and Russia had smaller debt burdens than the United States, Japan and the eurozone. While the United States stacked up debt equal to about 75% of its annual output, Russia owed only 10%. When the U.S. annual budget deficit soared to over 10% of GDP, Russia's deficit...
  • Chicago’s Collapse Has Begun

    07/13/2016 4:10:26 AM PDT · by detective · 70 replies
    American Thinker ^ | July 13, 2016 | Michael Bargo, Jr
    The city of Detroit, now famous as an economic disaster, began its decline when it lost jobs. This was accompanied by a loss of population, a rapid rise in poverty, increasing dependence upon federal entitlement programs and an unstoppable downward economic spiral. Puerto Rico is now undergoing an economic collapse sparked not by population loss but by excessive government spending. Chicago is in the same situation. Government overspending and over taxation comes first, population loss follows. Chicago is technically bankrupt. Its expenditures have exceeded its receipts for about ten years. All big rust belt cities in the Midwest, East, and...
  • Central Banks Have Sailed Us Where We Shouldn't Be [NEGATIVE RATES HERE TO STAY!!]

    07/13/2016 5:56:18 AM PDT · by expat_panama · 22 replies
    TCW ^ | July 12, 2016 | Tad Rivelle
    Capital markets are information engines. When functioning properly, they reflect what investors know – or think they know – about the future. Future expectations are for all to see, discounted in today’s financial prices. Obviously, this doesn’t mean that capital markets are always “right,” for the future comes as it will, caring not a whit whether it was the one we ordered up or not.For the first time in recorded history, financial interest rates have gone negative. To say this makes no sense is almost tautological. Nobody pays to have their Amazon delivery delayed or their Uber pickup deferred. Consumption now is...
  • Pew Research Finds Europeans Increasingly Uncomfortable With Immigration

    07/12/2016 7:32:41 PM PDT · by Tolerance Sucks Rocks · 20 replies
    MRC TV ^ | July 12, 2016 | Charlie McKenna
    A study released by the Pew Research Center on Monday shows a startling development in European attitudes towards Middle Eastern refugees. In eight of the ten countries surveyed, majorities of citizens polled believe incoming refugees increase the likelihood of terrorism at home. Respondents in Hungary, Poland, the Netherlands, Germany, Italy, Sweden, Greece, and the United Kingdom all responded that they believe incoming refugees increase the risk of terrorism. Respondents in Hungary are most likely (at 76 percent) to believe incoming refugees increase the risk of terrorism, while respondents in Spain are the least likely to believe incoming refugees increase the likelihood of terrorism (at 40...
  • It’s better than you think - Away from the shocking headlines, progress is improving human life

    07/12/2016 5:12:09 AM PDT · by expat_panama · 22 replies
    The Washington Times ^ | Monday, July 11, 2016 | Richard W. Rahn
    It is the worst of times — well no, not really. This past week we had shootings of police and shootings by police. The world economy and political situation is a mess. It is a time of crisis — without an apparent Churchill, Thatcher or Reagan. Yet, in many ways, things have never been better. In 1930, 304 American police officers were killed in the line of duty; last year it was 122. In 1930, the U.S. population was a little over one third of what it is today, so, on a population adjusted basis, there were about seven times...
  • Robots Won't Replace Humans, They'll Simply Transform Their Work

    07/12/2016 5:11:29 AM PDT · by expat_panama · 35 replies
    Real Clear Markets ^ | July 12, 2016 | Arden Manning
     Are the Luddites staging a comeback? In the early 1900s, it was the British weavers and textile workers in the early 1900s, who destroyed machinery to protest newly developed manufacturing machinery they feared would rob them of their livelihoods. Recently, there appears to be a growing chorus of voices sounding the alarm on automation stealing all of our jobs to those invoking doomsday prophecies of a Hollywood-style "Rise of the Machines" taking over our world as we know it. This begs the question of whether we're seeing a resurgence of Luddite sentiments.Critics of automation are quick to cite a...
  • What Clinton and Trump Would Do for Gig Economy Workers

    07/11/2016 11:14:51 AM PDT · by 2ndDivisionVet · 7 replies
    Next Avenue ^ | July 11, 2016 | Nancy Collamer, Work & Purpose Blogger
    As we enter the final stretch of the presidential election season (Hallelujah!), the rhetoric around jobs — how to create good paying ones, minimize income inequality and bring opportunities back home — is sure to heat up. But what about the challenges facing the growing number of Americans who don’t work in traditional jobs, but are instead gig economy workers — like freelancers, consultants, and contractors — who lack the benefits and legal protections typically provided by employers? Where do Donald Trump and Hillary Clinton stand on them? It matters because millions of Americans — the U.S. Government Accountability Office...
  • Ignore Unemployment Pundits, Low 'Labor-Force Participation' Is The Goal [IT'S GOING BACK UP!!!]

    07/11/2016 4:07:16 AM PDT · by expat_panama · 34 replies
    Forbes ^ | July 10, 2016 | John Tamny
    ...Obama’s critics on rates of labor-force participation to some degree makes the case for the Obama economy performing better than is widely believed... ... The argument is that assuming rates of participation that prevailed 5, 10 and 15 years ago, the jobless rate would be higher. This statistic is being used to indict the Obama economy, and will similarly be used by Democrats to eviscerate the economy when a Republican is in the White House. Partisans on both sides will miss the point. Up front, this column is not a defense of President Obama or his economy. His administration’s meddling...
  • If This Is an ‘Economic Recovery’ — What Will the Next Recession Look Like?

    07/10/2016 11:06:40 AM PDT · by massmike · 18 replies ^ | 07/10/2016 | George Will
    America’s economy has now slouched into the eighth year of a recovery that demonstrates how much we have defined recovery down.The idea that essentially zero interest rates are, after seven and a half years, stimulating the economy “strains credulity,” says James Bullard, president of the Federal Reserve Bank of St. Louis. But last month he and other members of the Federal Reserve Board understandably felt constrained to vote unanimously to continue today’s rates for an economy that created just 38,000 new jobs in May, and grew just 0.8 percent in the first quarter, after just 1.4 percent in the previous...
  • Who Is On The Side of American Workers?

    07/10/2016 8:39:48 AM PDT · by Kaslin · 23 replies ^ | July 9, 2016 | John C. Goodman
    Is it Hillary Clinton? Bernie Sanders? Democrats in general? Or is it the supply side policies of the GOP? Economists have been studying economic wellbeing and its determinants since the days of Adam Smith and we know quite a lot about it. So let’s jump to the bottom line. Aside from the rule of law and free markets, the most important determinant of the average wage is economic growth. And the most important ingredient in economic growth is capital accumulation. More capital, more growth. If you place the origin of modern human beings at about 100,000 years ago, for almost...
  • Trump may topple 'blue wall' before ever building border wall

    07/09/2016 8:34:12 PM PDT · by 2ndDivisionVet · 59 replies
    The Sharon Herald ^ | July 1, 2016 | Martin Schram
    It’s been exactly one year since Donald Trump convulsed America’s political pros and punditocracy in howls of hilarity when his rambling campaign kickoff speech veered into his now-famous vow to build his Trump wall across our southern border – and somehow make Mexico pay for it. Now this: In a rare, carefully scripted speech on Tuesday, Trump delivered a series of political hits that, come November, may turn out to be powerful enough to topple yet another iconic political wall – this one seemingly far more impenetrable than any wall the aspiring mogul-in-chief dreams of being able to build. Namely:...
  • You Are a Problem to Be Policed

    07/09/2016 9:31:19 AM PDT · by Rummyfan · 11 replies
    PJ Media ^ | 8 July 2016 | Richard Fernandez
    It's easy to see the events in Dallas through a racial prism. It is harder to see them as the consequences of a political system which relies on keeping people in dependency, in which black Americans are the furthest advanced and therefore the most afflicted. As Mark Blyth, a professor of Political Economy at Brown University put it, the problem is global. In Europe the Romanians, Spaniards and the Greeks are given the part African Americans must play. Blyth points out that after one creates a class of dependents, the next and inevitable step is to control them.For the past...
  • A staggering percentage of Americans are too poor to shop

    07/08/2016 8:29:44 PM PDT · by dynachrome · 207 replies
    NY Post ^ | 7-6-16 | Lisa Fickenscher
    Retailers have blamed the weather, slow job growth and millennials for their poor results this past year, but a new study claims that more than 20 percent of Americans are simply too poor to shop. These 26 million Americans are juggling two to three jobs, earning just around $27,000 a year and supporting two to four children — and exist largely under the radar, according to America’s Research Group, which has been tracking consumer shopping trends since 1979.
  • Thanks To Free Markets, Global Poverty And Hunger Are On The Ropes

    07/08/2016 5:37:44 AM PDT · by expat_panama · 19 replies
    Investors Business Daily ^ | July 7, 2016 | TERRY JONES
    With so much bad news around, occasionally something truly wonderful happens that deserves note. This is one of those. A new forecast by the U.S. Department of Agriculture suggests that hunger in developing nations is dropping sharply. Thanks to falling food prices and rising incomes, the share of those in 76 low- and middle-income nations without adequate access to food will drop from 17% currently to 6% by 2026 -- an amazing 59% decline. Amid so much gloom, humankind is on the verge of banishing its worst enemy, hunger, for the first time in its existence... ...2000, world GDP was...
  • Full Event: Donald Trump/Newt Gingrich Rally in Cincinnati, OH (7-6-16)

    07/07/2016 9:16:44 AM PDT · by Jim 0216 · 148 replies
    YouTube ^ | 7/6/16 | Donald Trump
    [Begin at 1:07:30 into the speech. Speaking of Carrier Air Conditioner which relocated to Mexico.] "Every single time you make a beautiful air conditioner and want to sell it to the United States, there will be a 35% tax on it."
  • Service Sector Growth Accelerates, Refis Skyrocket, Trade Deficit Widens

    07/07/2016 4:19:56 AM PDT · by expat_panama · 26 replies
    Investors Business Daily ^ | 7/06/2016 | ED CARSON
    A leading service sector index signaled that the bulk of the U.S. economy expanded at the fastest pace in 2016. Meanwhile, the U.S. trade deficit widened more than expected, while refinancing activity spiked on plunging mortgage rates... The Institute for Supply Management said its services gauge for June jumped 3.6 points to 56.5, the highest since last November... U.S. Trade Deficit Widens The U.S. trade gap for May rose 10% to $41.1 billion, the Commerce Department said, wider than the $40 billion expected. Imports rose 1.6% on consumer goods and higher prices for petroleum. Exports dipped 0.2%. Mortgage Applications Jump...
  • The Big Unravel – US Commercial Bankruptcies Skyrocket

    07/07/2016 4:07:59 AM PDT · by expat_panama · 5 replies
    Naked Capitalism ^ | July 6, 2016 | Wolf Richter
    Yves here. While commercial bankruptcies are still below the level of late 2013, Wolf is correct to point out that the spike during this year’s bankruptcy season is bigger and longer-lived than in recent years. Presumably a fair bit of the change is due to stress in oil producing areas, but it may also include an intensification of the ongoing shakeout in bricks and mortar retailers.By Wolf Richter, a San Francisco based executive, entrepreneur, start up specialist, and author, with extensive international work experience. Originally published at Wolf StreetThis year through June, there have been 91 corporate defaults globally,...
  • The Truth: Obama’s Net Gain in Jobs Is a Negative 14 Million

    07/06/2016 7:40:44 AM PDT · by blueyon · 6 replies
    the gateway pundt ^ | 7/06/16 | Jim Hoft
    President Obama claimed on Tuesday during his campaign rally with Hillary Clinton that the US economy is in great shape and that he created 14 million jobs. As usual, with Obama, know that the opposite is probably closer to the truth. First of all, the US economy is not in great shape. If it was the Fed would be raising interest rates. Because the economy is not in great shape the Fed has again decided to delay raising rates. Obama will probably not raise interest rates through the end of his term with some estimates that the US will be...
  • Economic Optimism Chills As Summer Begins: IBD/TIPP

    07/06/2016 4:17:04 AM PDT · by expat_panama · 8 replies
    Investors Business Daily ^ | 7/05/2016 | ED CARSON
    Pessimism about the U.S. economy has fallen to its lowest level since last November, according to the latest IBD/TIPP Economic Optimism Index, a bad sign for consumer spending as Apple (AAPL), Gap (GPS) and other consumer companies report sluggish demand. The sentiment gauge fell 2.7 points, or 5.6%, to 45.5, matching November's reading. The index has been below the neutral 50 level since April 2015. The poll's Six-Month Economic Outlook, a measure of how consumers feel about the economy's prospects in the next six months, dropped 6.9 points to 36.7, falling 15.8%. That's the lowest since a matching reading last...