Keyword: economy

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  • 'Argentina is capable of paying all of its creditors'

    12/29/2014 12:27:13 AM PST · by WhiskeyX
    Buenos Aries Herald ^ | Sunday, December 28, 2014 | Buenos Aries Herald
    Senior portfolio manager at NML Capital Jay Newman said that “Argentina is capable of paying all of its creditors” given its “vast natural ressources.” He blamed the government for not reaching a deal with the holdouts.
  • Obama Ignores Black Economic Woes To Focus On Racism

    12/28/2014 11:12:44 PM PST · by Cincinatus' Wife · 2 replies
    The Daily Caller ^ | December 29, 2014 | Neil Munro
    "............................Then [Obama] claimed his government-centered policies have boosted education and opportunity among African-Americans. “The education reforms that we’ve initiated are showing measurable results… We are seeing record numbers of young people attending college,” he said. But in Obama’s high-unemployment economy, even blacks with college degrees are doing worse than their pre-depression peers. “Among recent graduates ages 22 to 27, the jobless rate for [graduate] blacks last year was 12.4 percent versus 4.9 percent for whites,” said a New York Times article, which was published quietly on Christmas Day. “This 7.5 percentage point difference was far greater than before the recession…...
  • 2015 Predictions; Investment & Finance Thread - Dec. 28

    12/28/2014 8:22:56 AM PST · by expat_panama · 46 replies
    Weekly investment & finance thread ^ | Dec. 28, 2014 | Freeper Investors
                [click to enlarge]         Weird, all our doom'n'gloomers have disappeared!  Usually the pundits are warning about the big upcoming market crash but look at what the latest "expert" predictions are for 2015 stock market returns: Outlook 2015: Year Ahead Reports & Analysis Our 2015 year-end target for the S&P 500 is 2200, putting returns on a more-normal pace of 6%.Barron's Cover Outlook 2015: Stick With the Bull Wall Street’s top strategists expect the S&P 500 to rally 10% Markets  Wall Street bull: Market will rise another 14% in 2015 Add to this the fact that we're still overdue for our longer term...
  • The Big Economic Unknowns of 2015, From Unemployment to Oil (Regurgitation of fake numbers)

    12/27/2014 12:16:13 PM PST · by E. Pluribus Unum · 8 replies
    New York Slimes ^ | DEC. 27, 2014 | JUSTIN WOLFERS
    I wish I knew where the economy will be heading next year. If I did, I might become rich. But, alas, I don’t — and even if we don’t always acknowledge it, no economists do. The unemployment rate stands at 5.8 percent. If it continues on its current trajectory, it will have fallen an additional half a percentage point by mid-2015, putting it at a level that some economists see as effectively full employment.
  • As Economy Strengthens, Obama’s Popularity Is Likely to Rise

    12/27/2014 8:09:48 PM PST · by SeekAndFind · 56 replies
    New York Times ^ | 12/272014 | Brendan Nyhan
    When will the improving American economy translate into higher approval ratings for President Obama? It will take time. But if recent trends continue, Mr. Obama’s political standing is likely to strengthen. The economy is turning upward. Job growth is increasing, as The Upshot’s Neil Irwin has noted, and wage and income growth – which have been largely nonexistent for years – are likely to pick up. The latest estimate shows G.D.P. grew at a rate of 5 percent in the third quarter, the fastest rate since 2003. The political currents are seemingly running in the opposite direction from the economy,...
  • They are preparing for you

    12/27/2014 9:45:42 AM PST · by kindred · 41 replies
    conservativenewsandviews.com ^ | December 19, 2014 | Dwight Kehoe
    A wheelbarrow of money to buy a loaf of bread. This is what Obama, with his fiscal cliff plan, threatens us with. For many years now we have heard chilling tales about that elusive, powerful and manipulative entity conspiracy theorists have called “The New World Order”. Not only have the members of this group managed for the most part to remain anonymous, but their agenda has remained mysterious and obscure. So much so that many good people have been perfectly fine with ignoring its existence or viability. Whether or not this New World Order is in lockstep with World Communism...
  • It's neither unemployment nor underemployment. It's ethnic cleansing. (Vanity/Opinion)

    12/27/2014 2:42:05 AM PST · by Enterprise · 41 replies
    Free Repblic ^ | 12/27/14 | Enterprise
    During Stalin's reign, he used a particularly horrific manner of social engineering. It was ethnic cleansing.
  • ABOUT THAT 5% GDP GROWTH RATE…

    12/26/2014 2:41:46 PM PST · by smoothsailing · 20 replies
    Power Line ^ | 12-26-2014 | John Hinderaker
    December 26, 2014 by John Hinderaker About that 5% GDP Growth Rate… Just before Christmas, the Commerce Department announced that third quarter GDP growth came in at an upwardly-revised 5% annual rate. Nearly everyone hailed this as wonderful economic news. The New York Times celebrated the apparent return to rapid growth: [H]ere, for the holidays, is the festive news: The economy roared ahead at a 5 percent annual growth rate in the July through September quarter, the fastest quarterly growth since 2003. …The biggest revision that boosted G.D.P. was in personal consumption spending, the biggest engine of overall economic activity,...
  • Florida Leaves New York Behind in Its Rear-View Mirror

    12/26/2014 6:33:56 AM PST · by SeekAndFind · 58 replies
    National Review ^ | 12/26/2014 | John Fund
    It’s official. Florida is the nation’s third-largest state with 19.7 million people. It surpassed New York this month by adding an average of 803 new residents every day as opposed to New York’s 140. Contrary to the stereotype, sun-seeking seniors aren’t the main drivers of Florida’s population growth. James Johnson, a business professor at the University of North Carolina, told the AP that Florida’s powerful economic engine is driving its growth: “I think it’s going to be for the 21st century what California or New York was for the 20th century.” As the James Madison Institute reports, Florida’s growth is...
  • High GDP Numbers for Q3? We Can Thank Obamacare and Forced Consumer Spending

    12/25/2014 7:39:51 AM PST · by Son House · 25 replies
    Examiner.com ^ | December 23, 2014 | Kenneth Schortgen Jr
    The revision which helped create last quarters incredible growth was the forced mandatory costs incurred by the American people from the Affordable Care Act (Obamacare), which accounted for two-thirds of the entire boost in consumer spending. Consumer spending, as opposed to the recording of revenues from actual production and industry which used to be the primary components of economic growth in America, on average accounts for more than 70% of the entire Gross Domestic Product. And if you took out payments made by the American people towards mandatory government healthcare, GDP may have been in negative growth for last quarter,...
  • Merry Christmas from Texas to the World

    12/25/2014 12:24:13 AM PST · by Cincinatus' Wife · 26 replies
    The Hill ^ | December 25, 2014 | Ben Voth
    Texas has blessed the world with an incredible Christmas gift: plummeting oil prices. Both the production and the technology of fracking were substantially innovated and pioneered in the Lone Star state. The ramifications here at home and abroad are profound and incredible example of how innovation, property rights,and economic freedom trump the ugly agendas of statism. The gift of Texas oil is a gift that keeps on giving and stands in contrast to the lumps of coal dished out by the Federal government:...Gift 1:A true economic stimulus. The drop in oil prices from over $100 a barrel to less than...
  • The Destruction Of The Middle Class Is Nearing The Final Stages

    12/24/2014 3:11:54 PM PST · by dontreadthis · 112 replies
    zerohedge.com ^ | 12/23/2014 | Tyler Durden
    The events of the past few months seem astounding when taken in all at once. The plan to destroy the U.S. dollar and the American middle class is moving at an ever increasing speed. At the recent G20 meeting the nations agreed that bank deposits would no longer be considered money. These bank deposits become the property of the banking institution and as such can be used any way the bank wants. This means that any money you deposit in a bank now is no longer yours but makes you an investor in the bank and subject to lose that...
  • Vanity: How does the economy feel near you?

    12/24/2014 10:25:11 AM PST · by Vermont Lt · 67 replies
    12/24/14 | Vanity
    As the Dow hits new heights, there are reports all around about the new robustness of the U.S. economy. Things here in Western MA are not great. It doesn't feel like huge 5% growth and the unemployed are all around. I am wondering what it's like in your neck of the woods. Also, wishing all of you a Merry Christmas and a great 2015!
  • New York Times Insider: Multi-Million Dollar Shortfall Causing Drastic Cuts

    12/23/2014 6:22:16 PM PST · by Beave Meister · 40 replies
    New York Observer ^ | 12/23/2014 | Ken Kurson
    Yesterday, New York Times readers were treated to a beautifully nuanced and balanced and richly detailed feature about a topic very much in the mix. Its author, Ariel Kaminer, came by her story and its scoop—the first interview with the accused (possibly falsely) rapist of the woman at Columbia who is carrying a mattress around campus to make a statement about campus sexual violence—by developing deep roots in a narrow beat, higher education. And now, Ms. Kaminer will join a hundred or so of her colleagues on the unemployment line as the Times once again cuts costs by cutting journalists....
  • US economy grows incredible 5%

    12/23/2014 11:57:30 AM PST · by SeekAndFind · 70 replies
    CNN Money ^ | 12/23/2014 | Matt Egan
    Evidence is mounting that the U.S. economy is kicking into high gear. Gross domestic product soared 5% on an annual basis in the third quarter, the government said on Tuesday. To put that in perspective, it's the strongest quarter of growth since 2003. "Other than the first quarter's weather-induced contraction, there's no doubt the economy has been great this year," said Dan Greenhaus, chief global strategist at BTIG. Investors cheered the news, sending the stock market to record highs with the Dow crossing 18,000 for the first time ever.
  • U.S. Economy Grew 5% in Third Quarter, Its Fastest Rate in More Than a Decade

    12/23/2014 11:08:21 AM PST · by mikelets456 · 29 replies
    NYT ^ | 12/23/2014 | NYT
    The American economy grew last quarter at its fastest rate in more than a decade, providing the strongest evidence to date that the recovery is finally gaining sustained power more than five years after it began. Bolstered by robust spending among consumers and businesses alike, economic output rose at an annual rate of 5 percent during the summer months, the Commerce Department said Tuesday, a sharp revision from its earlier estimate of 3.9 percent. The advance followed a second quarter where growth reached a rate of 4.6 percent after a decline last winter that was exacerbated by particularly harsh weather.
  • 5.0% GDP! (Happy Days)

    12/23/2014 6:43:10 AM PST · by blam · 53 replies
    BI ^ | 12-23-2014 | Sam Ro
    Sam Ro December 23, 2014America is just killing it. Q3 GDP growth was just revised up to 5.0% from last month's estimate of 3.9%. This is the fastest pace of growth since Q3 2003. This was also much stronger than the 4.3% expected by economists. "The increase in real GDP in the third quarter primarily reflected positive contributions from PCE, nonresidential fixed investment, federal government spending, exports, state and local government spending, and residential fixed investment. Imports, which are a subtraction in the calculation of GDP, decreased," the BEA said. Personal consumption growth was revised up to 3.2% from 2.2%....
  • Could an Energy Bust Trigger QE4?

    12/23/2014 6:11:27 AM PST · by SeekAndFind · 3 replies
    Euro Pacific Capital ^ | 12/23/2014 | Peter Schiff
    In a normal economic times falling energy costs would be considered unadulterated good news. The facts are simple. No one buys a barrel of oil to display above the mantle. No one derives happiness from a lump of coal. Energy is simply a means to do or get the things that we want. We use it to stay warm, to move from Point A to Point B, to transport our goods, to cook our food, and to power our homes, factories, theaters, offices, and stadiums. If we could do all these things without energy, we would happily never drill a...
  • Arab OPEC Sources Say Oil Will Be Back Above $70 By The End Of 2015

    12/23/2014 3:56:01 AM PST · by blam · 4 replies
    BI - Reuters ^ | 12-23-2014 | Rania El Gamal
    Rania El Gamal, ReutersDecember 23, 2014Arab OPEC producers expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand, OPEC delegates said this week in the first indication of where the group expects oil markets to ‎stabilize in the medium term. The delegates, some of which are from core Gulf OPEC producing countries, said they may not see - and some may not even welcome now - a return to $100 any time soon. Once deemed a “fair” price by many major producers, $100 a...
  • Bill Whittle: We’re Number Two

    12/22/2014 4:38:37 PM PST · by Mozilla · 9 replies
    Front Page Magazine ^ | December 21, 2014 | Bill Whittle
    TRANSCRIPT: Hi everybody. I’m Bill Whittle and this is the Firewall. A few days ago, we rather quietly passed a milestone – a big one. For the first time since the 1870’s – that would be during the administration of President Ulysses S Grant – The United States is no longer the worlds largest economy. “Hold on to your hats, America,” reports Brett Arends of MarketWatch in his online article, “And throw away that big fat Styrofoam finger while you’re at it.” Now I don’t know anything about Brett Arends politics, but throwing away that big fat Styrofoam finger –...
  • Fracking is Fundamental

    12/22/2014 3:35:18 PM PST · by Sean_Anthony · 7 replies
    Canada Free Press ^ | 12/22/14 | Alan Caruba
    Energy is the master resource, the lifeblood of ours and the world’s economy “It is a sad day when a state chooses to listen to the fear, uncertainty, and doubts spread by anti-fossil fuel agitators rather than making a decision for economic strength that would benefit schools, communities, and many of its poorest citizens—especially when the vilified technology, hydraulic fracturing, has been used safely and successfully for more than 60 years and has brought prosperity to other formerly struggling regions.” Responding to the announcement by New York Governor Andrew Cuomo that the state would ban fracking, Ms. Noon joined others,...
  • The reason for lower gas prices: Saudi Arabia and fracking

    12/22/2014 7:21:19 AM PST · by shepardspie33 · 18 replies
    Red Dirt Report ^ | December 22, 2014 | Brian Woodward
    ... While the U.S. does not export crude oil, its increased production has curbed imports, resulting in excess supply. Although the fracking boom has helped to increase supply and steal market share from the Middle East, it is the Saudi response to the increased production from North American shale that has sent the price of oil tumbling. In September 2014, in the face of falling oil prices, Saudi Arabia chose to increase oil production by half a percent. Days later on Oct. 1, they discounted oil exports to leading Asian customers. These actions set off a rapid decline in international...
  • Obama's doing a much better job than most people ackowledge: Farmer

    12/21/2014 5:14:10 PM PST · by 2ndDivisionVet · 57 replies
    The Times of Trenton ^ | December 21, 2014 | John Farmer
    Politics is predictably unpredictable. So it’s no surprise that President Obama, after a hellacious 11 months, is finishing his sixth year on an unpredictably strong note. The U.S. economy is sitting up and taking nourishment, recovering nicely. Vladimir Putin, whom Republicans like Rudy Giuliani were fawning over as a “real leader” in contrast to our pusillanimous president, is gasping for air as the Russian economy sinks under the weight of Obama-led sanctions and a U.S. energy surge. Having stuck a thumb in the eye of the GOP with his immigration initiative, Obama used another digit on the Grand Old Partisans...
  • 2014 Recap --Looking Back; Investment & Finance Thread - Dec. 14

    12/21/2014 8:49:52 AM PST · by expat_panama · 50 replies
    Weekly investment & finance thread ^ | Dec. 21, 2014 | Freeper Investors
    2014 Recap --Looking Back; Investment & Finance Thread - Dec. 14 [click for link to list] Merry Christmas!   We get to open some goodies a few days early here, first with the list of this past year's thread links (left) for a nostalgic walk down Memory Lane while we go over this past market strategies.  Then we can number-plot check out how general markets fared.   Stocks:  Looking over the past year (as of Dec. 19) we're seeing the S&P 500 up 12.0% and the NASDAQ up 14.1% --above average!  OK we've done better but I personally can live w/...
  • Fox and Dish TV contract ends today.

    12/20/2014 9:01:39 PM PST · by KeyLargo · 27 replies
    WBOC ^ | 12-20-2014
    DISH FAQS Posted: Dec 19, 2014 1:50 PM CST 1. What is happening? By law, WBOC and FOX21 must negotiate carriage agreements with satellite companies like DISH. Usually, these deals are reached without any disruption to your service. In fact, our company has negotiated dozens of agreements. Unfortunately, so far, DISH has refused to reach a fair, market-based deal to carry WBOC and FOX21. Our existing agreement with DISH expires at midnight on Dec. 31, 2014. If no deal is reached before that date, you will lose live access to the shows, sports and local news on WBOC and FOX21,...
  • Where Did the Jobs Go?

    12/19/2014 7:08:48 PM PST · by 2ndDivisionVet · 16 replies
    Powerline ^ | December 19, 2014 | John Hinderaker
    Somewhat remarkably, given that it has presided over the worst recovery–by far–of the post-war era, the Obama administration tries to slice and dice employment numbers to portray itself as a champion of job creation. There are, indeed, a few more jobs today than there were six years ago. Yet for most Americans, the employment scene has gotten worse, not better. Why is that? Senate Budget Committee staff offer data in explanation: According to BLS data, in November of 2007 there were 23.1 million foreign workers in the United States with jobs. Today, the BLS reports, there are 25.1 million foreign...
  • Publisher Bitcomposer files for bankruptcy (Video games maker)

    12/19/2014 12:50:34 PM PST · by 2ndDivisionVet · 9 replies
    GamaSutra ^ | December 16, 2014 | Phill Cameron
    Bitcomposer, the publisher of games such as Space Hulk and Jagged Alliance, has filed for bankruptcy after having applied for a protective shield procedure back in September. The company also published Shadowrun Returns in German and Russian. The procedure was applied for on September 26th and protected the company from creditors while it organised a plan for insolvency, reports Develop. It was still able to publish titles in the period of time between then and now, and hopes to find an investor at this point to ensure it can continue to operate as a publisher and aid with development. Bitcomposer...
  • Amazon Prime Now brought me candy in 23 minutes (New ONE HOUR Delivery)

    12/19/2014 12:05:19 PM PST · by 2ndDivisionVet · 21 replies
    Engadget ^ | December 18, 2014 | Devindra Hardawar
    Amazon's new one-hour delivery service, Prime Now, works so well it might just inspire entirely new levels of laziness in all of us. After all, why bother going to the store when you just need to shell out $7.99 to get anything brought to your door in an hour? But as anyone who's made Seamless or GrubHub food deliveries an essential part of their diet can tell you, this sort of instant gratification can be dangerously addictive. And eventually, you might end up having no reason to leave your house at all. As the Amazon courier handed me a bag...
  • Checkmate: Is Russia Selling Oil For Gold?

    12/19/2014 10:05:33 AM PST · by Strategy · 64 replies
    SilverDoctors ^ | December 19, 2014
    Very few people understand what Putin is doing at the moment. And almost no one understands what he will do in the future. No matter how strange it may seem, but right now, Putin is selling Russian oil and gas ONLY for physical gold. How long will the West be able to buy oil and gas from Russia in exchange for physical gold? And what will happen to the US petrodollar after the West runs out of physical gold to pay for Russian oil, gas and uranium, as well as to pay for Chinese goods?
  • The West Should Not Let Russia Fall Apart

    12/19/2014 3:23:15 AM PST · by edpc · 14 replies
    Fortune ^ | 18 Dec 2014 | Cyrus Sinati
    The West shouldn’t stoke the fires engulfing Russia’s wounded economy. Talk in Washington and Brussels this week of levying further economic sanctions on Russia seems counterproductive and will only make matters worse for all parties involved. Like it or not, Russia’s economy has grown simply “too big to fail,” and its political and military might is too dangerous to ignore. The West might have better luck in advancing its goals in the region by helping, not hurting, the Russian bear in its time of need.
  • An Economic Indicator That Predicted The Last 7 Recessions Predicts No Recession Any Time Soon

    12/18/2014 8:03:43 PM PST · by blam · 23 replies
    BI - Guggenheim Partners ^ | 12-18-2014 | Scott Minerd
    Scott Minerd, Guggenheim Partners December 18, 2014 Plunging oil markets and faltering growth expectations around the world have raised fears about the sustainability of the current U.S. economic expansion. The economic data, though, suggest that these fears are largely unfounded. The Conference Board’s Leading Economic Index, which is made up of 10 forward-looking economic and financial indicators, has not fallen since January and has been gaining momentum throughout the year. (snip)
  • A Downhill Run for the Dollar in 2015

    12/18/2014 7:37:48 AM PST · by GilGil · 15 replies
    Gold-Eagle ^ | 12/17/2014 | John Williams
    "I'll give you a couple of things to look for in 2015. Fundamental economic activity as measured in areas such as retail sales, industrial production, housing starts, payroll numbers and the broadest measure of unemployment—all those numbers are going to deteriorate. The economy is going to head down as we get into reporting in early 2015. Along with that will come renewed expectations of action by the Federal Reserve to accommodate the financial system, particularly the banking system, and the combination of those factors will, I believe, help to trigger a massive decline in the U.S. dollar. As a result...
  • Oil drop sends major central banks in different directions

    12/18/2014 6:58:19 AM PST · by mac_truck · 2 replies
    Reuters ^ | 12/18/2014 | Paul Carrel, Mike Peacock and Howard Schneider
    The world's major central banks are scrambling to work through the implications of the near halving of the price of oil in the second half of 2014, and they are coming up with very different conclusions. Perhaps unsurprisingly, policymakers looking at robust economic recoveries such as in the United States and Britain are focused on the likely boost to growth and consumption from markedly lower energy prices and the later upward impact that should have on inflation. But for the European Central Bank, battling to revive a moribund economy, the worry is whether cheap oil could tip the euro zone...
  • Obama Didn't Spread the Wealth, He Concentrated It, Pew Study Finds

    12/18/2014 4:22:34 AM PST · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 12/17/2014 | John Merline
    Here's more evidence of just how successful President Obama has been at "spreading the wealth around" since he took office. A Pew Research Center report released on Wednesday found that the gap in net worth between the country's wealthy and the middle class reached record highs in 2013 -- the last year for which it has data. According to Pew, which used data from the Federal Reserve's Survey of Consumer Finances, upper-income median net worth in 2013 was 6.6 times greater than the median net worth of middle-income families ($639,400 vs. $96,500).
  • Fox News finds new way to scare its viewers, warns of Dish blackout

    12/17/2014 8:48:51 PM PST · by KeyLargo · 39 replies
    FireceCable ^ | 12-15-2014 | Daniel Frankel
    Fox News finds new way to scare its viewers, warns of Dish blackout December 15, 2014 | By Daniel Frankel Already adept at scaring its rapt audience, Fox News has begun warning Dish Network (NASDAQ: DISH) subscribers that the channel, along with Fox Business News, could disappear from their program guides "any day now." The campaign features the usual TV spots, directing viewers to visit the "protest the operator" website, in this case KeepFoxNews.com. Fox News versus Dish Fox's post urged Dish subscribers to call the satellite operator. (Source: KeepFoxNews.com) A Fox News blog post notes, "Despite the undeniable demand...
  • GOP majority can jump-start economy with tech agenda

    12/17/2014 8:35:08 AM PST · by Mellonkronos · 8 replies
    Washington Examiner ^ | December 15, 2014 | DEREK KHANN
    The Obamas open up about raising their daughters, the impact of stereotypes, and what's on the POTUS dance party playlist. Subscribe now for instant access to the exclusive PEOPLE interview! -snip- "I think people forget that we've lived in the White House for six years," the first lady told PEOPLE, laughing wryly, along with her husband, at the assumption that the first family has been largely insulated from coming face-to-face with racism. "Before that, Barack Obama was a black man that lived on the South Side of Chicago, who had his share of troubles catching cabs," Mrs. Obama said in...
  • Consumer Prices Plunge Most Since December 2008 ("US economy is well on the road to recovery")

    12/17/2014 7:01:23 AM PST · by blam · 31 replies
    Zero Hedge ^ | 12-17-2014 | Tyler Durden
    Tyler Durden 12/17/2014Great news: The prices consumers pay dropped 0.3% MoM in November - the biggest deflation since Dec 2008. Of course, The Fed will be in "considerable" panic mode at this data and may choose to crush the hope of so many that rate hikes are coming in mid-2015 as definitive evidence that the US economy is well on the road to recovery. Ex-Food-and-Energy, prices rose 1.7% YoY - slightly missing expectations of +1.8%. Of course, a big driver of this 'transitory' disinflation is a 10.5% YoY drop in Gasoline and 6.6% MoM drop in November. Despite this huge...
  • Mercedes-Benz reportedly weighing move to Atlanta from Montvale (NJ)

    12/16/2014 8:49:16 PM PST · by PROCON · 6 replies
    northjersey.com ^ | Dec. 16, 2014 | LINDA MOSS
    The German luxury automaker Mercedes-Benz is looking to move its 1,000-employee North American headquarters from Montvale to Atlanta, several sources said Tuesday. The Atlanta Business Chronicle first reported on Tuesday that Mercedes-Benz USA is considering the move. A company spokesman declined to comment on the report, but several sources told The Record that Mercedes-Benz was indeed considering leaving Bergen County. One source within the company told The Record that an announcement on a move may come in January, at a company reception. “As a matter of policy, the company does not comment on rumors or speculation,” said Mercedes-Benz spokesman Rob...
  • Russian Ruble Crashes to World's Worst-Performing Currency

    The ruble collapsed by 10 percent against the U.S. dollar Monday earning the Russian currency the dubious laurels of the world’s worst-performing currency this year. The Russian currency has now fallen 49.3 percent against the greenback since January, according to data from the Moscow Exchange. The drop takes it below the Ukrainian hryvna, which has weakened 47.9 percent in 2014. Monday’s plunge was the largest single-day fall for the ruble since the financial crisis of 1998 when Russia was forced to default on its debt after exhausting its reserves in a fruitless bid to prop up the currency. In evening...
  • WTI Crude Craters To $55 Handle, High-Yield Credit Crashing-er

    12/15/2014 12:14:43 PM PST · by tcrlaf · 19 replies
    Zerohedge ^ | 12-15-2014 | Durden
    Having almost touched $59 overnight, WTI crude has collapsed back to a $55 handle, smashing the Ruble lower and high-yield credit spreads higher. US financial stocks are starting to weaken back towards the credit market's warnings as counterparty risk concerns spread...
  • Expert: Under $2 Gas Soon

    12/15/2014 8:22:33 AM PST · by central_va · 59 replies
    wrva richmond va ^ | 12/15/14 | Andy Doernen
    Richmond, Va. (1140wrva.com) Look for gas prices in the area to fall below $2 in the near future. Local gas industry analyst John Zehler, President of wholesaler Virginia Fuels, is predicting under $2 pump prices as the free fall in crude prices continues. Zehler says the price plunge has been going on for 6 months and it's going to be hard to turn it around until demand catches up with production. He says some folks think, with the current trend, we could see gas fall to $1.60 by the summer but admits it wild speculation.
  • Industrial Production Explodes In November

    12/15/2014 7:08:00 AM PST · by blam · 8 replies
    BI ^ | 12-15-2014 | Myles Udland
    Myles Udland December 15, 2014Industrial production had a huge rebound in November. Industrial production rose 1.3% in November according to the latest report from the Federal Reserve. Expectations were for the report to show industrial production rose by 0.7% in November, better than October's 0.1% contraction. October's number was revised up to 0.1% from -0.1%. Capacity utilization also rose sharply, to 80.1% from a revised reading of 79.3%. Capacity utilization was expected to rise, to 79.4% from 78.9%. This rate of capacity utilization is now equal to its long-run average spanning 1972-2013 and hit its highest level since March 2008....
  • The Destruction of America’s Pension Plans

    12/14/2014 9:00:16 AM PST · by Oldpuppymax · 18 replies
    Coach is Right ^ | 12/14/14 | Suzanne Eovaldi
    The just passed $1.1 trillion Cromnibus (Continuing Resolution and Omnibus) check float that successfully got through the Republican controlled US House contains language that could gut pension plans, according to analyses by both conservative and leftist web writers. “The pension provision was made public late Tuesday night,” says a web source that blasts efforts to write down public pension allotments. (1) Mike Adams of Health Ranger warns that “all the pension benefits that have been promised government retirees are about to be stolen back from retirees.” (2) Quoting a WaPo article, Adams also points out that “the proposal would torpedo...
  • Is this the future of fashion? First-ever 4D dress created using a printer is unveiled

    12/14/2014 11:18:46 AM PST · by 2ndDivisionVet · 19 replies
    The London Daily Mail ^ | December 14, 2014 | Bianca London
    As many women know only too well, finding a dress that fits like a glove is no easy task. But a new dress, created using a 3D printer, may be the answer to every woman's style woes. A design studio have used 3D printing technology to create an innovative dress customised to a woman’s body. The dress, which costs a staggering Ł1,900 ($3,000) to print, features 2,279 printed panels interconnected by 3,316 hinges. Creators Nervous System call it a ‘4D dress’ as, like fabric, the printed garment can go from a compressed object to its intended shape. Jessica Rosenkrantz, co-founder...
  • We’re Number Two

    12/14/2014 10:51:14 AM PST · by Sean_Anthony · 6 replies
    Canada Free Press ^ | 12/14/14 | Alan Caruba
    The fact remains that Main Street is in trouble. The nation requires an economy in which new businesses are created and existing ones can afford to expand. That is not happening The U.S. was the world’s number one economy prior to World War II, but it took off bigtime after the war and there has not been a day of my long life in which we were not number one—until now. The International Monetary Fund recently released its calculations regarding the world’s economy and concluded that China is the number one economy, producing $17.6 trillion in terms of goods and...
  • What Oil Shock and Repub. Cave Mean to Stocks and GDP; Investment & Finance Thread - Dec. 14

    12/14/2014 7:43:31 AM PST · by expat_panama · 158 replies
    Weekly investment & finance thread ^ | Dec. 14, 2014 | Freeper Investors
    So while nobody knows the future we still need to know what to expect from the week's two big headlines, even though our view can easily (and will probably) be muddied w/ other factors.  So we deal with an unknown future by checking the historical record for clues on at what the news means to our future investment returns.  What oil bargains do:  namely, what's it doing to the economy and to investments; here's what tanking oil's done in the past (ya gotta LOVE the fed's data site) and how real oil prices (2014$ per barrel) track real GDP-- [click...
  • Lower Oil and King Dollar Are Unambiguously Good: Don't Listen to the Naysayers

    12/13/2014 5:43:29 AM PST · by SeekAndFind · 4 replies
    National Review ^ | 12/12/2014 | Larry Kudlow
    We all know that the American energy revolution, led by the new technologies of hydraulic fracturing and horizontal drilling, has created a flood of new shale-oil and natural-gas production that has overwhelmed world markets and driven prices down by roughly 40 percent. End-of-week crude oil closed near $57 a barrel, and the national average gasoline price finished at $2.60. No matter what the naysayers are trying to sell, the new energy reality is unambiguously good for the U.S. and global economies. There may be some dislocations among countries, sectors, or companies, but the overwhelming impact is positive. In fact, the...
  • Obama's Science and Tech Adviser, Holdren, laid foundation for understanding environmental probs

    12/12/2014 11:48:13 AM PST · by Cincinatus' Wife · 2 replies
    Volvo Environment Prize ^ | December 12, 2014
    "In 1993, the [Volvo Environment] Prize went to Professor Paul R. Ehrlich of Stanford University and Professor John P. Holdren of the University of California in Berkeley, whose work laid the foundations of our understanding of how the dynamics of population growth, rising living standards and changing technology, as well as the relationships between them, interact in the context of environmental problems." List of past winners (and their work) from 1990 - 2014 Professor Paul R. Ehrlich, Professor John P. Holdren
  • GOP to Obama: We're Writing the Budget Now. Get Used to It

    12/12/2014 9:27:00 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | December 12, 2014 | Donald Lambro
    WASHINGTON - The nation's divided Congress battled down to the wire this week over its budget for the rest of this fiscal year -- hoping to avoid a government shutdown. The $1.01 trillion spending bill must be passed before midnight Thursday, though at this writing few were placing any big bets on meeting that deadline. Still, Congress has dodged budget deadlines before and may do so again. If for no other reason than to drive a stake through the heart of a bitterly divided, unpopular legislature that can't seem to agree on anything except going home for the holidays. This...
  • The Trillion Dollar Market: Fuel in Space from Asteroids

    12/11/2014 11:56:21 PM PST · by WhiskeyX · 1 replies
    YouTube ^ | Jun 10, 2014 | Planetary Resources
    Asteroid sourced hydrogen and oxygen will literally and figuratively fuel expansion of the space economy by providing a locally sourced fuel resource that will change how industry operates in space. While existing satellites cannot be refueled directly today, space tugs fueled by asteroids that are currently being developed, will maneuver Geostationary satellites into their assigned orbit. Thus, keeping them operating and generating revenue far beyond their current life expectancy. Water from asteroids can also be used for a plethora of other applications beyond fuels in space. It can be consumed, used as a radiation shield for humans during deep space...