Keyword: economy

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  • Soft U.S. data hints at near-term hiccup in economic growth

    03/05/2015 12:59:56 PM PST · by Red in Blue PA · 11 replies
    WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment aid last week rose to its highest level since May, but economists dismissed the increase as weather-related and said the jobs market remained solid. They were also little perturbed by other data on Thursday that showed factory orders fell in January for a sixth straight month and fourth-quarter productivity declined by more than initially thought.
  • Oakland mayor urges support for small businesses struggling with new minimum wage

    03/05/2015 9:58:06 AM PST · by E. Pluribus Unum · 34 replies
    Mercury News ^ | 03/05/2015 | Bay City News Service
    OAKLAND - Oakland Mayor Libby Schaaf made a pitch Wednesday morning for the 82 percent of Oakland voters who passed a minimum wage hike in November to support local businesses struggling to adjust to higher costs. "It's time for Oaklanders to put their money where their votes were," Schaaf said at a news conference outside of Farley's East coffee shop on Grand Avenue.
  • US productivity falls at faster pace, labor costs rise (recovery?)

    03/05/2015 10:01:13 AM PST · by Olog-hai · 10 replies
    Associated Press ^ | Mar 5, 2015 12:22 PM EST | Martin Crutsinger
    U.S. worker productivity was even weaker than first thought from October through December while labor costs rose at a faster rate. Productivity declined at an annual rate of 2.2 percent in the fourth quarter, weaker than the 1.8 percent drop that was estimated a month ago, the Labor Department said Thursday. Labor costs rose at a 4.1 percent rate, faster than the 2.7 percent increase first estimated. Weaker productivity and higher labor costs could spell inflation troubles for the economy. But analysts say that the changes in the fourth quarter are temporary and not an indication that inflation is about...
  • The Global Problem: Monetary Policy Can't Fix an Economy's Structural Problems

    03/05/2015 9:02:55 AM PST · by SeekAndFind · 10 replies
    Of Two Minds ^ | 03/05/2015 | Charles Hugh-Smith
    When we look back from 2025, it will be painfully obvious that central bank policies exacerbated the systemic crises that brought down the global financialization machine. What with all the praise being heaped on central banks for "saving" the world from economic doomsday in 2008, it's only natural to ask which structural problems their unprecedented policies solved in the past 6 years. After all, "saving" the world from financial collapse was relatively quick work; so what problems beyond imminent implosion did the central banks policies solve in the past 6 years? Answer: none. zip, zero, nada. The truth is central bank policies...
  • Wisconsin close to becoming 25th right-to-work state

    03/05/2015 2:57:04 AM PST · by Cincinatus' Wife · 12 replies
    Huron Daily Tribune ^ | March 5, 2015
    ".....Economists and others who study the issue say it's too soon to draw conclusions from either state about what effect right-to-work is having.But that hasn't stopped proponents from pointing to job growth in Indiana, and detractors highlighting union membership slides in Michigan,as possible outcomes headed Wisconsin's way.Under right-to-work,private-sector businesses cannot enter labor contracts that require workers to pay union dues. Supporters say that it's about worker freedom and that right-to-work will make Wisconsin more attractive to businesses looking to move in or expand.But opponents say the goal is to destroy unions,which they argue will hurt the economy,lower wages and endanger...
  • A Recovery Waiting to Be Liberated

    03/05/2015 1:22:29 AM PST · by iowamark · 10 replies
    Wall Street Journal ^ | March 3, 2015 | John B. Taylor
    Hope flickered last year when the economy grew at more than a 4% clip in the second and third quarters. But then came last week’s news that fourth-quarter growth slowed to 2.2%, a gloomy revelation that the rebound was temporary. Economic growth for 2014 clocked in at about 2.3%—the same disappointing pace since the recession officially ended in 2009. What is the problem? For years I and many others have argued that a return to the principles of economic freedom would convert this not-so-great recovery into a great one. But Washington has not seriously considered pro-growth policy—no tax reform to...
  • Betrayal Papers Part 3: Obama’s Scandals and Assaults on Freedoms Explained

    03/04/2015 9:01:26 AM PST · by RightSideNews · 11 replies
    Right Side News ^ | March 4, 1015 | Betrayal Papers
    Last week was part 2, this weekThe Betrayal Papers Part I – Under Obama: U.S. Captured by the Muslim Brotherhood, presented a picture of a conspiracy that is manipulating the American government. Part II – In Plain Sight: A National Security “Smoking Gun” named several people in the Obama administration who have documented associations to Muslim Brotherhood front groups and the State of Qatar. This article will explore the deliberate strategy of the Muslim Brotherhood and the Obama administration to cripple the middle class and to steer the American economy, as well as identify, to the extent possible, their role...
  • Moscow's half-empty $12 billion financial district looks worse than you imagined

    03/04/2015 7:09:31 AM PST · by elhombrelibre · 41 replies
    BI ^ | 3 Mar 14 | Christian Storm and Elena Holodny
    Moscow's financial district, with its $12 billion worth of skyscrapers, was meant to be a gleaming beacon for Russia's post-Soviet market economy. But now with Russia's economy in free-fall, the Moscow City complex property values have nosedived, construction sites are abandoned, and vacancy rates have soared to 45%, according to real estate consultants Blackwood.
  • Poll: Scott Walker Pulls Even with Jeb Bush in Florida

    03/04/2015 4:44:45 AM PST · by Cincinatus' Wife · 56 replies
    Breitbart ^ | March 3, 2015 | Howie Carr
    BOSTON – Wisconsin Gov. Scott Walker has closed to within one point of favorite son former Gov. John Ellis (“Jeb”) Bush in Bush’s home state of Florida, according to a new poll of GOP voters in the Sunshine State. Bush leads Walker, 23-22, in a poll this week of 508 Florida Republicans by Gravis Insights, a Florida-based non-partisan research firm. The poll was conducted for the Howie Carr radio show. In third place was another favorite son, FL Sen. Marco Rubio, with 11 percent. Former AR Gov. Mike Huckabee had 10 percent, ahead of retired neurosurgeon Dr. Ben Carson with...
  • [Texas] Senate school agenda vexes teacher groups

    03/03/2015 10:56:42 PM PST · by Cincinatus' Wife · 3 replies
    Houston Chronicle ^ | March 3, 2015 | Lauren McGaughy
    <p>AUSTIN - Lt. Gov. Dan Patrick unveiled key portions of the upper chamber's education agenda on Tuesday, reviving proposals long unpopular with teacher groups that Patrick said would empower parents and help students leave poor-performing schools.</p> <p>"We'll be talking about school choice and pre-K at a later date," Patrick said at a morning press conference in the Capitol, flanked by members of the Senate Committee on Education. "But reforming education is more than a single shot. It is a comprehensive plan that takes in every area of the state, takes in every student, every parent and every teacher."</p>
  • Target to cut thousands of jobs in restructuring

    03/03/2015 1:49:42 PM PST · by Red Badger · 52 replies
    CBNC ^ | 03-03-2015 | Fred Imbert & Courtney Reagan
    Target's chief executive, Brian Cornell, said Tuesday the retailer will cut several thousand jobs within the next two years as part of a $2 billion cost savings plan. The company also announced 2015 guidance of $4.45 to $4.65 adjusted earnings per share. Wall Street expected Target's guidance at $4.50 adjusted earnings per share. Target also expects digital sales to increase 40 percent and same-store sales between 1.5 percent and 2.5 percent, with modest improvement in gross margins and expense rates. It also expects sales to grow between 2 and 3 percent during the year. The company's stock closed at $78.02,...
  • What's America's Economic Fragility Score?

    03/03/2015 1:09:09 PM PST · by SeekAndFind · 1 replies
    Of Two Minds ^ | 03/03/2015 | Charles Hugh Smith
    By this measure, the U.S. scores very poorly: 4 out of a possible 5 on the Fragility Index. There is a certain logic to the idea that stability is a good predictor for future stability: if a nation's economy and governance are stable and devoid of disorder, this trajectory of stability will be durable, right? Well, actually, no. Nassim Nicholas Taleb and co-author Gregory F. Treverton argue in their essay The Calm Before the Storm: Why Volatility Signals Stability and Vice Versathat "the best indicator of a country’s future stability is not past stability but moderate volatility in the relatively recent past." Taleb and...
  • Poll: Walker Closing in on Hillary

    03/03/2015 11:08:19 AM PST · by Cincinatus' Wife · 42 replies
    NRO - The Corner ^ | March 3, 2015 | Andrew Johnson
    He’s emerged as one of the leading contenders in recent weeks, and now a new Rasmussen poll shows that Scott Walker has the best chance of any of the potential Republican candidates against Hillary Clinton in a head-to-head match-up. After a strong few weeks, including finishing second in the Conservative Political Action Conference straw poll over the weekend, the Wisconsin governor is within striking distance of Clinton, the presumptive Democratic nominee. The survey found that 46 percent of likely voters supported Clinton, while 41 percent backed Walker. Supporters of neither candidate received 8 percent, with the remaining 6 percent undecided....
  • Scott Walker wants to end funding for renewable energy program - UW-Madison needs to prioritize

    03/02/2015 10:12:34 AM PST · by Cincinatus' Wife · 18 replies
    Milwaukee Journal Sentinel ^ | March 2, 2015 | By Thomas Content and Lee Bergquist
    ......UW officials say that Walker's proposal to end funding for the bioenergy program would cripple broader energy-development research that is receiving $25million annually from the federal Department of Energy."I can't honestly say how we would replace it at this point,"said Michael Corradini,director of the Wisconsin Energy Institute at UW-Madison,which derives 90% of its funding from the bioenergy program...In 2007,Wisconsin landed the Great Lakes Bioenergy Research Center—the first federal research center the state had attracted in decades. The center received an initial five-year,$125 million grant from the U.S. Department of Energy.It was part of a $375 million package by the administration...
  • American Companies, States Firing American Workers, Importing Guest Workers To Replace Them [Video]

    03/02/2015 6:17:09 AM PST · by E. Pluribus Unum · 72 replies
    PatDollard.com ^ | 03/02/2015
    (FULL TITLE) EXPOSED: American Companies, States Firing American Workers And Importing Foreign Guest Workers To Replace Them Excerpted from News 10: It’s nearly 8 p.m., and inside a state office building two dozen computer experts design and troubleshoot a system that will take and process millions of unemployment claims each year.It’s a $200 million Employment Development Department project, but with the exception of two managers, everyone inside the office is from outside of the U.S. They are employed by Deloitte, a major U.S. IT company hired by the state to create and manage its Unemployment Insurance Modernization project. The mostly...
  • CALIFORNIA DEMOCRATS; RIDING “CAP AND TRADE” TOWARD THEIR FINAL SUNSET

    03/02/2015 6:44:07 AM PST · by jmaroneps37 · 10 replies
    coachisright.com ^ | March 2, 2015 | Kevin "Coach" Collins
    California is always honing its suicidal skills. In its continuous drive toward the ultimate sunset, the Golden State has made its war on America and what America stands for abundantly clear. It wants to become a territory of Mexico and a haven for illegal aliens supported by the dwindling number of actual American saps it can squeeze every nickel out of… bringing the state inexorably closer to its final demise. Among California’s most glaring self-inflicted wounds is its cap and trade program under which businesses, deemed to be enemies of the socialist utopian dream, must pay a tax above and...
  • Why Robots Will Be The Biggest Job Creators In World History

    03/02/2015 4:49:50 AM PST · by expat_panama · 115 replies
    Forbes ^ | 3/01/2015 | John Tamny
    As robots increasingly adopt human qualities, including those that allow them to replace actual human labor, economists are starting to worry.  As the Wall Street Journal reported last week, some “wonder if automation technology is near a tipping point, when machines finally master traits that have kept human workers irreplaceable.”The fears of economists, politicians and workers themselves are way overdone.  They should embrace the rise of robots precisely because they love job creation.  As my upcoming book Popular Economics points out with regularity, abundant job creation is always and everywhere the happy result of technological advances that tautologically lead to job destruction.Robots...
  • U.S. Union Busting: Who’s Scarier, Scott Walker or ‘Jihadi John’?

    03/02/2015 12:15:56 AM PST · by Cincinatus' Wife · 31 replies
    NSNBC ^ | March 2, 2015 | Shamus Cooke
    When Wisconsin Governor Scott Walker compared labor unions to ISIS his audience cheered. At the end of the speech he got a standing ovation, reported FOX News in an article entitled “Walker draws standing ovation in CPAC address”. His wealthy audience hated labor unions that much. In fact, the 1% despises unions much more than they hate ISIS. Islamic extremists in the Syrian desert pose no threat to anyone in the U.S., while labor unions pose a direct threat to the profits of the super rich. Conversely, the average U.S. worker has much more to fear from Scott Walker than...
  • Warren dings Walker over comments on unions and ISIS

    03/01/2015 7:27:45 PM PST · by Beave Meister · 43 replies
    The Hill ^ | 2/28/2015 | Kevin Cirilli
    Warren, who is closely aligned with progressive union groups, ripped Walker in a tweet Saturday for what some saw as a comparison between union members and the Islamic State of Iraq and Syria: "If Scott Walker sees 100,000 teachers & firefighters as his enemies, maybe it's time we take a closer look at his friends.” In a speech at the Conservative Political Action Conference on Thursday, Walker said, “If I can take on 100,000 protestors, I can do the same across the world.” Walker, a possible 2016 presidential candidate for the GOP, tried to walk back his comments after his...
  • "NowCast" Shows GDP Crumbling

    03/01/2015 3:49:50 PM PST · by Kaslin · 29 replies
    Townhall.com ^ | March 1, 2015 | Mike Shedlock
    In the wake of existing home sales reports on Monday, and new home sales yesterday, GDP and residential investment forecasts came tumbling down. Check out the latest "GDP Nowcast" from the Atlanta Fed. "The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2015 was 1.7 percent on February 26, down from 1.9 percent on February 18. The first-quarter nowcast for real residential investment growth fell from 11.1 percent to 2.3 percent following Monday's existing-home sales release from the National Association of Realtors and yesterday morning's releases on sales and construction costs of...
  • An economic riddle: Where are all the construction workers?

    02/28/2015 10:57:18 AM PST · by posterchild · 48 replies
    finance.yahoo.com ^ | Feb 27, 2015 | Michael Santoli
    The housing bust and Great Recession might have scared a generation of would-be construction workers away from the building trades. That’s the strong suggestion of some new research by the Federal Reserve, which explored why shortages of construction workers are emerging even as large numbers of people who seem good candidates for that type of work remain under-employed. A working paper by Fed economist Andrew Paciorek notes that construction employment growth has badly lagged the recovery in the labor market as a whole.
  • The First World War and the Costly Burden of Obamanomics

    03/01/2015 3:04:02 PM PST · by Kaslin · 4 replies
    Townhall.com ^ | March 1, 2015 | Daniel J. Mitchell
    What does World War I have to do with Obamanomics? ThereÂ’s no real connection, of course, but it did give me an opportunity to present a good analogy. At a conference in London last week, I was discussing with some folks the state of the American economy and the role of public policy.I was trying to explain whatÂ’s happened in the past few years, describing the avalanche of bad policy last decade, culminating with the faux stimulus in 2009 and the enactment of Obamacare in 2010.I then said that ObamaÂ’s efforts to impose further statism have been largely stymied, particularly...
  • Stock Run-up 3 Weeks Old, Experts Confused-- Investor Thread March 1, 2015

    03/01/2015 5:34:21 AM PST · by expat_panama · 67 replies
    Weekly investment & finance thread ^ | Mar. 1, 2015 | Freeper Investors
    [excerpt from Stock-market crash of 2016: The countdown begins]Dow will drop 50% as market replays 2008, 2000 and 1929.  That will translate into the DJIA crashing from today’s 18,117 down 50% to about 9,000. Ouch, the Dow crashing all the way below 10,000. Unimaginable. Bulls will hate it. No wonder our brains tune out, turn off. Instead, we prefer the happy talk that will just keep coming out of Wall Street and Washington till the 2016 collapse. We’ll just keep denying reality ... till it’s too late, and we suffer another $10 trillion loss is on the books. Deja...
  • Who killed at CPAC, the GOP's red meat 2016 auditions?

    03/01/2015 2:44:26 AM PST · by Cincinatus' Wife · 31 replies
    LA Times ^ | February 29, 2015 | Doyle McManus
    "...What was missing from CPAC? Any sign of the intellectual ferment in conservative think tanks about how to address the stagnant incomes of the American middle class. Most speakers stuck to more traditional fare: smaller government, lower taxes, less regulation. There are new ideas in the Republican Party, but this, it seems, was neither the time nor the place..."
  • Pope Francis: ‘Money Is the Devil’s Dung!’

    02/28/2015 11:15:22 PM PST · by 2ndDivisionVet · 84 replies
    Breitbart's Big Peace ^ | February 28, 2015 | Thomas D. Williams, Ph.D.
    In his address to the Italian Confederation of Cooperatives Saturday, Pope Francis employed muscular language in speaking about money — while acknowledging its importance to business. “Money,” he said, “is the devil’s dung.” “It is not easy to talk about money,” Francis said. Quoting Saint Basil the Great, the Pope said: “Money is the dung of the devil! When money becomes an idol, it rules over a person’s choices. And then it ruins a person and condemns him, turning him into a slave.” The Pope called for “creative imagination” to find new methods, attitudes and tools to combat the “culture...
  • OfficeMax call center in Peru reportedly closing (Town in Illinois)

    02/28/2015 8:19:46 PM PST · by 2ndDivisionVet · 12 replies
    The LaSalle News-Tribune ^ | February 26, 2015 | Staff
    An OfficeMax call center in Peru is closing its doors, beginning layoffs in March, according to two sources. Layoffs should be completed in November. A news story in 2013 indicated 275 people worked at the Peru facility. Employees on Thursday were instructed not to speak to the media about the layoffs. OfficeMax merged with Office Depot in 2013. As previously reported, the combined company disappointed state lawmakers by locating its headquarters in Boca Raton, Fla. (Office Depot’s longtime home) and pulling out of Naperville, where OfficeMax had been headquartered. OfficeMax workers have dealt with uncertainty about their jobs for the...
  • Greek Crisis Deepens

    02/28/2015 6:33:12 PM PST · by NRx · 26 replies
    The Telegraph ^ | 28 Feb 2015 | Ambrose Evans-Pritchard
    Greece's new currency designs are ready. The green 50 drachma note features Cornelius Castoriadis, the Marxisant philosopher and sworn enemy of privatisation. The Nobel poet Odysseus Elytis - voice of Eastward-looking Hellenism - honours the 200 note. The bills rise to 10,000 drachma, a wise precaution lest there is a hyperinflationary shock as Greece breaks out of its debt-deflation trap at high velocity. The amateur blueprints are a minor sensation in Greek artistic circles. They are only half in jest. Greece's Syriza radicals have signed a fragile ceasefire with the eurozone's creditor powers. Few think this can last as escalating...
  • This Billionaire Governor Taxed the Rich and Increased the Minimum Wage -- Now, His State's Economy

    02/28/2015 6:10:04 PM PST · by SendShaqtoIraq · 59 replies
    Huffington Post ^ | 02/28/15 | Carl Gibson
    "Minnesota's Governor raised the minimum wage, signed an equal pay act, and raised taxes on the rich to fund K-12 schools and higher education. Minnesota now has the 5th highest job growth in the nation and median income is $8,000 higher than the national average. By contrast, Governor Walker in the neighboring state of Wisconsin did the opposite: he gave the rich $2.1 billion in tax breaks, busted unions, and cut school funding more than any governor. Wisconsin now ranks 37th for job growth, median income is $800 below the national average, and the budget deficit is so large Walker...
  • Black Lives Matter needs the Black Panthers

    02/28/2015 5:05:25 PM PST · by 2ndDivisionVet · 30 replies
    Al Jazeera America ^ | February 28, 2015 | Deena Guzder
    The Panthers opposed not only police brutality but also the economic injustice of everyday life.Protests over police killings of unarmed African-Americans continue to erupt across the nation, largely thanks to the organizing efforts of the Black Lives Matter movement. As Black History Month draws to a close, it’s worth asking what the movement can learn from earlier organizing efforts — in particular, the Black Panther Party. Nearly 50 years ago, activists were demanding not only the recognition that black lives matter but also the right to black power. In October 1966, Huey Newton and Bobby Seale founded the Black Panther...
  • Pope Francis attacks 'throw-away' economic globalization

    02/28/2015 1:21:42 PM PST · by SkyPilot · 16 replies
    Reuters and Yahoo News ^ | 28 Feb 15 | James Mackenzie
    Pope Francis launched a fresh attack on economic injustice on Saturday, condemning the "throw-away culture" of globalization and calling for new ways of thinking about poverty, welfare, employment and society. In a speech to the association of Italian cooperative movements, he pointed to the "dizzying rise in unemployment" and the problems that existing welfare systems had in meeting healthcare needs. For those living "at the existential margins" the current social and political system "seems fatally destined to suffocate hope and increase risks and threats," he said. The Argentinian-born pope, who has often criticized orthodox market economics for fostering unfairness and...
  • Another Recession is on the way

    02/28/2015 9:43:53 AM PST · by Kaslin · 22 replies
    Townhall.com ^ | February 28, 2015 | Mike Shedlock
    In 2006-2007 I called for a recession. We got a big one. I called for another one in 2011, as did the ECRI. That recession never happened. 50% is not a very good recession predicting track record except in comparison to consensus economic opinions that have never once in history predicted a recession. Consensus opinion is batting a perfect 0.00% Investigating the Record By the way, the ECRI was late in calling the recession of 2007. They still deny it. And questions regarding the 2001 recession and ECRI have still not been answered. I have talked about all of this...
  • Let's Talk Red Flags

    02/28/2015 9:54:41 AM PST · by Kaslin
    Townhall.com ^ | February 28, 2015 | Charles Payne
    The market has started to spin its wheels and that makes people nervous. I will lay out the red flags. I am not talking about the $18 trillion in government debt, the Fed's balance sheet, or the ticking time bomb of pensions, but trends that could arguably derail the stock market rally.Earnings are beating lowered estimates, but are yielding less than the twenty-year average. Sure, stock yields are attractive versus bond yields, but are they good enough to justify higher share prices? Here is the rub: consensus on earnings points lower and lower for this year, but it should reverse and...
  • The Song Remains the Same

    02/28/2015 9:05:03 AM PST · by Citizen Zed · 3 replies
    Eleven trillion dollars: that’s how much of so-called Quantitative Easing the world’s central banks have done since the 2008 crisis. To put that in perspective, with eleven trillion dollars you could pay off pretty much all U.S. household debt – all mortgages, all car and student loans, credit cards – you name it. So what did the global economy get for $11,000,000,000,000 in QE? Following a post-recession pop, we got collapsing world trade growth, and that’s even with prices falling over the past three to four years. Why is this happening? It’s not because this time around things are different....
  • What Do Conservatives Want For 2016? We Asked

    02/27/2015 1:17:47 PM PST · by 2ndDivisionVet · 7 replies
    National Public Radio ^ | February 27, 2015 | Amita Kelly
    Josh DiNatale (left) and Zachary Burns, St. Joseph's University students and members of their College Republicans chapter, get ready to pose for a photo with a cutout of Sen. Rand Paul at CPAC 2015. The Conservative Political Action Conference, held this week in Washington D.C., is prime time for 2016 Republican presidential hopefuls trying — yes, already — to win over a key part of their base. Former Gov. Jeb Bush, Sen. Ted Cruz, Ben Carson, Gov. Scott Walker and others paraded on and off the main stage, trying to fire up the crowd with their ideas for America's next,...
  • The Fed Waited Too Long: Here Comes Inflation

    02/27/2015 11:07:24 AM PST · by blam · 42 replies
    EcoMatters - TMO ^ | 2-27-2015 | EcoMatters
    EcoMatters February 26, 2015 CPI Core Shows Inflation The drop in energy prices, had the knee jerk reaction that we were in a deflationary spiral, again markets get many things wrong on first blush. The drop in energy prices is inflationary in the overall economy, and today`s CPI report showed what a sophisticated analysis would forecast regarding inflation and the role that low energy prices play in the overall inflation equation. We are going to have a transfer from the food and energy components which rely heavily on energy costs into the core inflation reading as consumers have more money...
  • Q4 GDP Revised Down To 2.2% From 5.0%: Full Breakdown

    02/27/2015 9:04:29 AM PST · by Kartographer · 15 replies
    Zerohedge ^ | 2/27/15 | Tyler Durden
    There was much hope that when Q3 GDP soared to 5%, primarily on the back of Obamacare spending recalendarization and a massive consumption/personal saving data revision, that the US economy would finally enter lift-off mode. Those hopes were reduced by about 60% when moments ago the BEA announced that Q4 GDP was revised from the original 2.64% print to only 2.18%, which while better than expected, was the lowest economic growth rate since the "polar vortex."
  • The US recovery story is a fraud?

    02/27/2015 8:49:51 AM PST · by alexmark1917 · 18 replies
    Most US economic data missed expectations in February. And that investors are sending stocks to all-time highs is making Societe Generale's Albert Edwards crazy. In a note Thursday, Edwards wrote: "With equity markets galore hitting record highs clearly I must be missing something big! We are at that stage in the cycle where I begin to doubt my own sanity. I’ve been here before though and know full well how this story ends and it doesn’t involve me being detained in a mental health establishment (usually)." From Janet Yellen's testimony on Capitol Hill earlier this week, Edwards points out that...
  • Billionaires Dumping Stocks, Economist Knows Why

    02/26/2015 12:18:13 PM PST · by Citizen Zed · 52 replies
    newsmax ^ | 2-26-2015
    A handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods. Buffett’s holding company, Berkshire Hathaway, has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced its overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold...
  • Watch Out for China Winning its 100-Year Marathon

    02/27/2015 5:05:27 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | February 27, 2015 | Michael Barone
    In reflecting on relations between the United States and China, Henry Kissinger in his 2011 book, "On China," notes that since he and Richard Nixon ventured to Beijing more than 40 years ago, "Eight American presidents and four generations of Chinese leaders have managed this delicate relationship in an astonishingly consistent manner, considering the difference in starting points." Kissinger diplomatically avoids saying that almost every presidential candidate over the years has campaigned against the Nixon-Kissinger policy and is perhaps taking pride in the fact that every president has continued it. Forty-plus years is a long time for a democracy to...
  • Greenspan: Effective demand as weak as during Depression

    02/26/2015 5:41:52 PM PST · by Red in Blue PA · 25 replies
    The fact that the market is anticipating that the Federal Reserve will raise interest rates, yet the yields on the 10- and 30-year Treasurys are falling is an indication of how weak the overall global economy is, former Fed Chairman Alan Greenspan told CNBC on Thursday. In fact, effective demand is extraordinarily weak, he said. "The way I measure it, it's probably tantamount to what we saw in the later stages of the Great Depression," Greenspan said in an interview with "Closing Bell." That said, he acknowledged "it's not anywhere near what the problems were back then but we haven't...
  • Greece Suffers Biggest Bank Run In History: January Deposits Plunge To 2005 Levels

    02/26/2015 7:31:52 AM PST · by SeekAndFind · 14 replies
    Zero Hedge ^ | 02/26/2015 | Tyler Durden
    One of the biggest question marks surrounding the Greek negotiation and ultimately, bailout extension, was just how panicked was the Greek population and domestic corporations. Recall that as explained previously, the tension boiled down to this: the Troika did everything in its power to accelerate the bank run in order to crush any negotiating leverage Varoufakis may have; Greece on the other hand was desperate to make its cash drain appear far better than rumored. Moments ago the Bank of Greece presented its latest, January, deposit data. And it's a doozy: following a record €12.2 billion monthly outflow, greater...
  • Christie and Walker take different paths on union issues

    02/25/2015 11:59:41 PM PST · by Cincinatus' Wife · 10 replies
    The State, South Carolina ^ | February 26, 2015 | Jill Covin and Scott Bauer in Madison,Steve Peoples in Washington, Michael Catalini in Trenton
    "You fight the good fight against Walker and he beats you," said Seth Markgraf, a 34-year-old construction worker from Arlington, Wisconsin. "They beat us in the recall and they beat us in another general election. It's just apathy. How do we beat Scott Walker?" TRENTON, N.J. — New Jersey's Chris Christie and Wisconsin's Scott Walker are getting ready to run for president, but they've still got day jobs as governors — and face another round in the ring with organized labor. For Christie, that means trying to reach a deal to fix New Jersey's underfunded pension system by working with...
  • How an Undocumented Immigrant From Mexico Became a Star at Goldman Sachs

    02/25/2015 11:34:54 PM PST · by 2ndDivisionVet · 5 replies
    Bloomberg Business | February 25, 2015 | Max Abelson
    Link only due to copyright issues: http://www.bloomberg.com/news/articles/2015-02-25/how-an-undocumented-immigrant-from-mexico-became-a-star-at-goldman-sachs
  • Why Obama Is So Autocratic About Environmental Policy [that's what dictators do]

    02/25/2015 11:07:11 PM PST · by Cincinatus' Wife · 8 replies
    Slate ^ | February 25, 2015 | Alec MacGillis
    After President Obama’s veto this week of legislation demanding the approval of the Keystone XL oil pipeline, congressional Republicans are charging him with once again flouting the will of the duly elected legislative branch. The charge has the ring of truth when it comes to energy and environmental matters, given how much the Obama administration has sought to circumvent Republicans with regulation and executive orders in that arena, most notably with the rules announced last year limiting carbon emissions from existing power plants. But there is a reason that Obama has chosen to go it alone on energy: The GOP’s...
  • Many Americans Still Struggling In Dismal Obama Economy

    02/25/2015 5:24:22 PM PST · by Kaslin · 46 replies
    Townhall.com ^ | February 25, 2015 | Donald Lambro
    WASHINGTON -- The new Republican Congress is just getting started, and the American people are waiting to see how lawmakers deal with the issues they care about most. Anyone who's followed the polls over the course of the Obama administration knows that the economy and jobs have been among our strongest concerns. The Gallup Poll reinforces this in its latest survey, asking people what they think are the biggest problems facing our country. "Economic problems" was, not surprisingly, their top concern -- mentioned by nearly 40 percent, followed by unemployment/jobs generally, the budget deficits and the federal debt, in that...
  • Is the Star Trek Economy a Welfare State?

    02/24/2015 9:34:40 PM PST · by Citizen Zed · 92 replies
    Slate ^ | 2-12-2015 | Ara Ogle, Quora
    As an example, Sisko's father runs a restaurant. Seats at that restaurant have to be a finite resource (because they require labor), so they would not be “free” to everyone—the owners get to choose whom they give it to. (That brings up the interesting question of whether the Federation would have anti-discrimination laws, but I digress.) Let's say Sisko chooses to feed people in his neighborhood; choosing to live in that neighborhood is the “price” his customers pay for his food. Similarly, Picard's brother makes real wine; since that requires real grapes and, again, labor, that would also be a...
  • The Hyperinflation Hype: Why the U.S. Can Never Be Weimar

    02/25/2015 10:26:02 AM PST · by ChildOfThe60s · 32 replies
    The Atlantic ^ | March 21, 2012 | Matthew O'Brien
    How are the United States' historic budget deficits, money-printing and depressed economy any different from the country's that have experienced hyper-inflation? The three-part answer is:(1) we don't have any problems selling our debt(2) we aren't actually printing money; and (3) the United States is a highly productive economy that is nothing like bombed-out Budapest.
  • Scott Walker tops GOP field in new national poll on 2016

    02/25/2015 1:38:45 AM PST · by Cincinatus' Wife · 44 replies
    Washington Times ^ | February 24, 2015 | David Sherfinski
    Wisconsin Gov. Scott Walker is leading a host of potential 2016 GOP presidential contenders with 25 percent of the vote in a national poll on the nomination contest released Tuesday. Retired neurosurgeon Ben Carson is second at 18 percent, followed by former Florida Gov. Jeb Bush at 17 percent and former Arkansas Gov. Mike Huckabee at 10 percent, according to the poll from the Democratic firm Public Policy Polling........
  • Latinos to account for over 40% of increase in U.S. employment over next 5 years, study finds

    02/24/2015 10:58:59 PM PST · by 2ndDivisionVet · 41 replies
    Fox News Latino ^ | February 24, 2015
    A new study released Tuesday indicates that Latinos will play an ever increasing role in the future of job growth in the United States. Latinos will account for more than 40 percent of growth in the next five years and more than 75 percent between 2020 and 2034 – an increase of 11 million jobs out of an economy-wide gain of 14 million, according to an analysis done by the economic forecasting firm IHS Global Insight. A number of reasons will account for the rise of Latinos in the workplace, but some major factors will be a Hispanic population growth...
  • Most Americans Are Slaves And They Don’t Even Know It

    02/24/2015 3:15:00 PM PST · by SeekAndFind · 31 replies
    TEC ^ | 02/24/2015 | Michael Snyder
    Most Americans spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do. These days, we don’t like to think of ourselves as “servants” or “slaves”, but that is what the vast majority of us are. It is just that the mechanisms of our enslavement have become much more sophisticated over time. It has been said that the borrower is the servant of the lender, and most of us start going into debt very early into our adult years. In fact, those that go to college to “get an...