Free Republic

WASHINGTON (MarketWatch) — There’s no way to sugarcoat it: The already-sluggish U.S. economy is stalling out, stung by doubts about our economic and fiscal future. The Institute for Supply Management reported that its manufacturing index dropped to 49.7% in June from 53.5% in May, signaling that the manufacturing sector is contracting for the first time since mid-2009. Read our complete news coverage of manufacturing activity shrinking in June. Both the ISM headline index and the ISM new orders index plunged below 50% in June. By itself, the decline in the ISM index below the benchmark 50% level does not mean...

Home | World | Obama Turning to Witch Doctors For Economic Advice Obama Turning to Witch Doctors For Economic Advice By Nelson Umerogwa 15 hours 53 minutes ago Font size: Decrease font Enlarge font Obama Turning to Witch Doctors For Economic Advice WASHINGTON DC - USA - An increasingly desperate Barack Obama has ordered twelve witch doctors from Kenya to be flown to the White House, CNN has reported. "Obama is so desperate that he's turning to voodoo to get the U.S. economy back on track," a Treasury employee told CNN. The White House was tonight being prepared for the...

The big story of the week came Thursday night when the Federal Reserve announced a hike in the discount rate. The central bank raised the interest rate on loans they make directly to commercial banks from 0.50% to 0.75%. This interest rate, however, is relatively unimportant except in times of financial crisis...