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Keyword: obamataxhikes

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  • U.S. stocks tumble to 22-month low as energy, financials drop

    02/08/2016 7:59:26 AM PST · by John W · 23 replies
    marketwatch.com ^ | February 8, 2016 | Ellie Ismailidou
    U.S. stocks tumbled Monday morning to their lowest level in 22 months as a fresh drop in oil prices amid continuing fears of economic slowdown pushed investors to the perceived safety of government bonds and gold. "Is the market throwing out the baby with the bath water?"said James Meyer, chief investment officer at Tower Bridge Advisors, referring to the "rapid fall in prices for the high flying tech and biotech names that have been leading the market for the past 12 months." "The former leaders of the previous bull cycle are the ones that get taken to the woodshed in...
  • Sessions: 'Little surprise' Obama quietly signed the TPP

    02/04/2016 11:40:26 PM PST · by Ray76 · 100 replies
    Washington Examiner ^ | Feb 4, 2016 | Anna Giaritelli
    Sen. Jeff Sessions, R-Ala., charged the Obama administration with quietly signing the Trans-Pacific Partnership trade agreement in New Zealand, and said the White House tried to minimize it because it knows the public isn't pleased with the deal.
  • Obama compares his work on the economy to his gym routine

    02/06/2016 2:54:59 PM PST · by MarvinStinson · 43 replies
    Washington Examiner ^ | 02/06/16 | Philip Klein
    President Obama on Friday compared his work to keep the U.S. economy churning to the extra effort he has to put into his physical workouts as he ages. We should feel good about the progress we've made, understanding that we have still got more work to do, Obama said Friday while speaking about news that unemployment in January dropped below 5 percent for the first time in eight years. It's sort of like … Im 54 now, so I have to work out harder to stay in shape, and, you know, if I'm feeling good in the gym, I want...
  • Dow logs nearly 300-point loss as oil sinks below $30

    02/02/2016 2:24:13 PM PST · by John W · 21 replies
    marketwatch.com ^ | Februry 2, 2016 | Ellie Ismaildou
    Wall Street stocks ended sharply lower Tuesday as investors unloaded energy and financial stocks amid a selloff in crude-oil futures, which settled below $30 a barrel. The downdraft in energy shares and banks offset strong gains in Google parent Alphabet Inc.-which officially surpassed Apple Inc. to become the most valuable company in the world-toy maker Mattel, and fashion retailer Michael Kors. A fresh 5.5% slump in oil prices following a 6% slide Monday, weighed on energy companies' stocks. The energy sector had the worst performance of the S&P 500's 10 sectors, down 3.3%, followed by financials, declining 2.6%.
  • Retail Apocalypse: 2016 Brings Empty Shelves And Store Closings All Across America

    02/01/2016 8:58:20 AM PST · by SeekAndFind · 134 replies
    EAD ^ | 02/01/2016 | Michael Snyder
    Major retailers in the United States are shutting down hundreds of stores, and shoppers are reporting alarmingly bare shelves in many retail locations that are still open all over the country. It appears that the retail apocalypse that made so many headlines in 2015 has gone to an entirely new level as we enter 2016. As economic activity slows down and Internet retailers capture more of the market, brick and mortar retailers are cutting their losses. This is especially true in areas that are on the lower portion of the income scale. In impoverished urban centers all over the nation,...
  • Oakland’s Minimum Wage Is Up, Wal-Mart Is Out

    01/30/2016 8:44:31 AM PST · by upchuck · 64 replies
    daily signal ^ | Jan 22, 2016 | Leah Jessen
    A minimum wage of $12.55 an hour in Oakland, Calif., may be the culprit for a Wal-Mart store's closure. Wal-Mart announced Jan. 15 it will close 269 stores globally, including 154 locations in the United States-affecting about 10,000 associates across the nation... snip Oakland Mayor Libby Schaaf, a Democrat, has been leading statewide efforts to raise the minimum wage to $15. "This higher city minimum wage eliminated the jobs of the very workers advocates wanted to help," said James Sherk, a research fellow in labor economics at The Heritage Foundation... snip The Wall Street Journal reported on Wednesday that most...
  • U.S. stocks fall after Fed statement

    01/27/2016 11:50:47 AM PST · by John W · 14 replies
    marketwatch.com ^ | January 27, 2016 | Anora Mahmudova & Sara Sjolin
    U.S. stocks moved back into the red Wednesday after the Federal Reserve left interest rates unchanged and said "economic growth slowed" since its last meeting in December. "Inflation is expected to remain low in the near term," the Fed said in new, more cautious language, that suggests the central bank won't be quick to raise interest rates again. "Lower oil prices and weak global economic growth would make the Fed more cautious about its tightening policy. The second interest rate increase in March has become unlikely," said Jia Liu, research fellow at the American Institute for Economic Research in emailed...
  • US government could bail out the oil industry. [Whaaaa, bail us out too]

    01/17/2016 10:27:10 AM PST · by Lorianne · 11 replies
    Forbes ^ | 19 December 2015 | Jeffrey Dorfman
    Oil prices have broken below $35 per barrel. Job losses in the industry are already over 100,000 and still climbing. Yet, no word from the Obama administration about a potential bailout of this important sector of the American economy. Why were Chrysler and GM bailed out while the oil industry is left to suffer a financial reset at least as sharp as what the automakers went through in 2008-2010? The answer lies not in economics, but politics, specifically union politics. Economically, of course, there are benefits to the fall in oil prices. Because the U.S. is a net importer of...
  • The Modern Left and the Crippling of Markets

    01/13/2016 1:50:58 PM PST · by jfd1776 · 8 replies
    Illinois Review ^ | January 13, 2016 A.D. | John F. Di Leo
    Reflections on the last State of the Union Address from Barack Hussein Obama… The modern Democratic Party has made no secret of the fact that they detest the free market. No, not dislike, not disrespect, not even misunderstand... they detest the free market. From Secretary Hillary Clinton haughtily declaring to Senator Bernie Sanders famously declaring that 23 brands of deodorant are … the leading lights of the modern Democratic Party are dim bulbs indeed, when it comes to economics. They proudly refuse to understand the subject, and they set themselves up as superior to its realities. It has long been...
  • The Avoidable Destruction of an Iconic American Industry

    11/07/2015 9:14:44 AM PST · by rktman · 33 replies
    americanthinker.com ^ | 11/7/2015 | Michael J. Mueller
    As a result of China’s flooding the world market with cheap, state-subsidized aluminum and our president’s irrational aversion to fossil fuels, a 127-year-old American industry is in danger of disappearing. This week, the two largest primary aluminum producers in the United States announced curtailment of aluminum production at key smelters across the country. Alcoa announced that it was halting smelting operations at its Intalco Works (583 employees) and Wenatchee plants (428 employees) in Washington state, its Massena West plant in New York (500 employees) and that it was curtailing alumina refining capacity at its Point Comfort facility in Texas. Century...
  • Supporting a Tax Because It's a Spending Cut

    10/26/2015 10:11:36 AM PDT · by Citizen Zed · 4 replies
    National Review Online ^ | 10-25-2015 | MICHAEL R. STRAIN
    Economists Lawrence H. Summers, Treasury secretary under President Clinton and top economics adviser underPresident Obama, and N. Gregory Mankiw, CEA chair under President GeorgeW. Bush, team up this morning in an op-ed supporting Obamacares Cadillac tax... They are right to do so, as the Cadillac tax actually cuts government spending (properly understood).
  • Liberal Logic in Soaking the Rich: They believe the paychecks of the 1% belong to the government

    10/17/2015 7:50:14 PM PDT · by SeekAndFind · 29 replies
    Pajamas Media ^ | 10/17/2015 | Rick Moran
    Interesting piece in the New York Times by Patricia Cohen about how easy it would be to raise taxes on the “1%” in order to see tens of billions of additional revenue for the government.I had to read this twice to make sure it wasn’t a parody. The top 1 percent on average already pay roughly a third of their incomes to the federal government, according to a Treasury Department analysis that takes into account the entire menu of taxes — including income tax, payroll taxes that fund Medicare and Social Security, estate and gift taxes, excise and custom...
  • Donald Trump's wild claim: Unemployment is 42%

    09/28/2015 5:47:46 PM PDT · by 2ndDivisionVet · 93 replies
    CNN Money ^ | September 28, 2015 | Heather Long
    The official U.S. unemployment rate is 5.1% -- the lowest in seven years -- but Donald Trump calls that a "joke." On Monday, he claimed he'd seen numbers that show America's real unemployment rate is as high as 42%. How does he arrive at such a wild figure? Trump appears to be looking at the number of American adults not working. Period. Out of about 251 million American adults, roughly 102 million -- or 40.6% -- aren't working. But, of course, there are a lot of reasons people don't work. They could be disabled, in college, at home raising kids...
  • Strange bedfellows: Donald Trump and the white working class

    08/23/2015 9:05:46 PM PDT · by 2ndDivisionVet · 68 replies
    Reuters ^ | August 23, 2015 | Justin Gest
    Republican presidential candidate Donald Trump clearly prides himself in shunning focus-group research. He refuses big campaign donations that he asserts make his opponents beholden to special interests. He seems to target no specific constituency. Many pollsters remain puzzled by Trumps political appeal. Republican support for Donald Trump just continues to grow, said Patrick Murray, director of Monmouth Polling after its August survey, with no clear sense of who his constituency really is. Yet a constituency is emerging. Trumps strongest supporters, roughly a quarter of Republican voters across the polls, are not dissuaded by any increased media scrutiny of their candidate....
  • Donald Trump Claims The 'Real' Unemployment Rate Is 18%. Here's What Wall Street Says.

    08/06/2015 11:47:59 AM PDT · by wtd · 52 replies
    Forbes ^ | August 6, 2015 | Dan Diamond
    Donald Trump Claims The 'Real' Unemployment Rate Is 18%. Here's What Wall Street Says.After Donald Trump announced his latest bid for the presidency, I reached out to get details on Trumps plan to replace Obamacare, and posted that interview on FORBES last week. But for many FORBES readers, the most eye-catching part of the interview wasnt Trumps plan for health care. It was what the Trump campaign said about unemployment. Mr. Trump believes that the real unemployment rate is over 18%, not the reported 5.5%, a spokesperson told me. Trumps distrust of the governments job statistics isnt new. In July,...
  • Trump: Unemployment Rate As High As 40%

    09/28/2015 11:05:48 AM PDT · by TigerClaws · 80 replies
    At Trump Tower, only a few blocks away from the meeting of world leaders at the United Nations, GOP presidential frontrunner Donald Trump announced his new plan to reform the U.S. tax code. After the main announcement, he took questions from the press. On how his plan would address income inequality: TRUMP: In terms of income inequality, we're going to create a lot of jobs. You know, right now we have a false [unemployment rate] 5.4%, 5.3%, 5.6%, every month it is different. It is such a phony number. Because when people look and look and look and then they...
  • Why Raising the Minimum Wage is a Bad Idea

    09/06/2015 5:38:17 AM PDT · by Kaslin · 15 replies
    Townhall.com ^ | September 6, 2015 | John C. Goodman
    Hillary Clinton has a solution to the problem of low wages: Government should make them higher. Paul Krugman, writing in The New York Times, endorses the idea. There was a time when Krugman dismissed rhetoric like Clinton’s as economic quackery. These days he’s trying to sell the same snake oil as the politicians. As I wrote in a column at Forbes, here is what economists know about the labor market: Employees tend to get paid their marginal product – the value they add to final output. In a competitive market this is almost a truism. Wages are not a gift....
  • Oils Down, Gasoline Isnt Whats Up With That?

    A little more than a year ago, oil prices were above $100 a barrel. The national average for gasoline was in the $3.50 range. In late spring, oil was $60-ish and the national average for gas was around $2.70. The price of a barrel of oil has plunged to $40 and belowyet, prices at the pump are just slightly less than they were when oil was almost double what it is today. Oil and gasoline prices usually travel up or down in sync. But a few weeks ago the trend lines crossed and oil continued the sharp decline while gasoline...
  • Obama will leave his party in its worst shape since the Great Depressioneven if Hillary wins.

    08/21/2015 12:51:44 PM PDT · by SeekAndFind · 22 replies
    Politico ^ | 08/21/2015 | Jeff Greenfield
    As historians begin to assess Obamas record as president, theres at least one legacy hell leave that will indeed be historicbut not in the way he would have hoped. Even as Democrats look favorably ahead to the presidential landscape of 2016, the strength in the Electoral College belies huge losses across much of the country. In fact, no president in modern times has presided over so disastrous a stretch for his party, at almost every level of politics. Legacies are often tough to measure. If you want to see just how tricky they can be, consider the campaign to get...
  • Column: Mr. President, on behalf of an ungrateful nation, thank you

    07/20/2015 6:15:52 PM PDT · by 2ndDivisionVet · 84 replies
    The Lincoln Journal-Star ^ | July 20, 2015 | Dick Meyer, chief Washington correspondent for Scripps Washington Bureau & DecodeDC
    Ive never written a column like this. Readers rarely believe it, but I am not on any political team. Generosity toward the high and mighty isnt among my few virtues. But this needs to be said: Americans are lucky to have Barack Obama as president and we should wake up and appreciate it while we can. President Obama will go down in history as an extraordinary president, probably a great one. He will have done this in an era that doesnt aggrandize leaders and presidents, but shrinks them. All presidents have had profound opposition, vicious enemies and colossal failures. A...
  • Hysterical: Liberals sign petition promoting 'white privilege tax' on white people

    07/20/2015 8:09:42 AM PDT · by rktman · 39 replies
    americanthinker.com ^ | 7/20/2015 | Rick Moran
    Mike Dice, the merry trickster whose videos expose liberal stupidity, picked a great subject for his latest: white privilege. Specifically, Dice asked people to sign a petition that would impose a 1% "white privilege" tax on all white people. The resulting hilarity is worth watching.
  • High rate of poverty bites California

    07/19/2015 12:00:07 PM PDT · by artichokegrower · 14 replies
    Sacramento Bee ^ | July 18, 2015 | Dan Walters
    When the Census Bureau began calculating poverty a half-century ago as a war on poverty became a hot issue in Washington it devised a rather simple formula. The formula defined income that would be counted excluding non-cash income such as food stamps and housing subsidies and applied it to a narrow market basket of food and other living necessities. All the data were nationwide, with no adjustments for regional or local differentials. By the official poverty index, California doesnt fare too badly, with 17 percent of its residents impoverished, a bit above the national rate of...
  • McDonalds outlook bleak in face of minimum wage hikes

    07/19/2015 11:34:26 AM PDT · by SeekAndFind · 58 replies
    Hotair ^ | 07/19/2015 | Jazz Shaw
    The Golden Arches are looking a little less shiny this year and McDonald’s franchise owners see hard times coming. This time it has nothing to do with the raging national debate over whether or not the McRib is awesome or awful, however. The vast majority of their fast food outlets are not owned by the corporation, but by franchise operators. Those entrepreneurs are regularly polled about their outlook for the coming year and most of them aren’t putting on their happy faces. (From CNBC) Just when you thought it couldn’t get much worse for McDonald’s, it did.The six-month outlook...
  • Federal Reserve blames immigrant kids for robbing jobs from 'native' U.S. teens

    07/19/2015 7:54:58 AM PDT · by GoneSalt · 38 replies
    Washington Examiner ^ | July 16, 2015 | Paul Bedard
    American teen employment has dropped 20 percent from the late 1980s, in part because more and more immigrants have flooded into the market to displace native-born kids from jobs in percentages far higher than on adults, according to the Federal Reserve. "The displacement effect of immigration on the employment of younger persons is much larger than on the employment of prime-age adults," said the September 2014 report, "Labor Force Participation: Recent Developments and Future Prospects."
  • Barack Obamas Net Worth Has Risen 438% Since Running for President

    07/08/2015 6:42:57 AM PDT · by SoFloFreeper · 35 replies
    IJ Review ^ | 5/13/14 | Justen Charters
    According to financial disclosure reports, President Obama has an estimated net worth of $7 million dollars. Since he was worth $1.3 million in 2007, that makes the millionaire 438% more wealthy than when he first ran for office... While the average US citizen has a median income of roughly $51,000, Obama rakes in the cash with an annual presidential salary of $400,000. In addition, he receives money from book royalties and other investments. Hypocrisy isnt a stranger to the liberal elite. Michael Moores fifty million dollar fortune came from creating documentaries that makes free enterprise look like the same as...
  • Major Job Cuts Expected at Microsoft [Obamanomics is Awesome, Ain't it Tech Worshipers?]

    07/08/2015 6:39:51 AM PDT · by SoFloFreeper · 12 replies
    NY Times ^ | 7/8/15 | Nick Wingfield
    SEATTLE Microsoft plans to announce a major new round of layoffs as early as Wednesday, as the company seeks to further cut costs in a shifting technology landscape. The layoffs are in addition to the about 18,000 employees that Microsoft said it planned to let go a year ago, according to people briefed on the plans, who asked for anonymity because the details were confidential. The new job cuts are expected to affect people in Microsofts hardware group, among other parts of the company, including the struggling smartphone business that it acquired from Nokia last year in a $7.2...
  • Microsoft Says It Plans to Cut 7,800 Jobs

    07/08/2015 8:09:19 AM PDT · by Wilderness Conservative · 18 replies
    The Blaze ^ | 7/8/15
    NEW YORK (AP) Microsoft will cut 7,800 jobs and take a $7.6 billion impairment charge as it attempts to revive its flagging phone hardware business. The company paid $7.3 billion for Nokias phone business in April 2014, seeking to push rapidly into the smartphone sphere as its traditional software business slowed. Microsoft ultimately wanted to build an ecosystem that made customers that are loyal to a slew of products, much as Apple and Google have done so successfully.
  • Political correctness 101: Praising America, virtues of hard work dubbed micro-aggression on

    07/02/2015 10:21:12 PM PDT · by Olog-hai · 11 replies
    Fox News ^ | July 02, 2015 | Kyle Rothenberg
    Simply asking someone Where are you from? or calling America "the land of opportunity is now considered offensive at some colleges and universities, where such micro-aggressions are detailed in training programs and seminars for new faculty and staff. Other examples of offensive statements include, I believe the most qualified person should get the job, Affirmative action is racist, Everyone can succeed in this society, if they work hard enough, When I look at you, I dont see color, and I dont believe in race. A full list of these offensive statements can be seen here. The newly forbidden terms were...
  • 2 Steps Forward, 1 Step Back For Jobs As Fed Watches [Labor Participation Hits 38-year Low]

    07/03/2015 4:40:06 AM PDT · by expat_panama · 35 replies
    Investors Busniness Daily ^ | 07/02/2015 | ANDREA RIQUIER,
    Job gains stayed healthy in June and the unemployment rate hit a seven-year low, but workforce participation skidded and wage growth remained anemic, muddling views of the labor market for a central bank seeking clarity. Employers added 223,000 jobs, the Labor Department said Thursday, about as many as economists had forecast, and the jobless rate fell to 5.3% from 5.5%. The number of people working part-time because they can't find full-time work fell, as did the number of long-term unemployed. But 432,000 people left the workforce, and the labor force participation rate fell to 62.6%, the lowest since 1977. Wage...
  • Record 93,626,000 Americans Not in Labor Force; Participation Rate Declines to 62.6%

    07/03/2015 5:50:41 AM PDT · by TurboZamboni · 21 replies
    CNS ^ | 7-2-15 | Ali Meyer
    CNSNews.com) - A record 93,626,000 Americans 16 or older did not participate in the nations labor force in June, as the labor force participation rate dropped to 62.6 percent, a 38-year low, according to the Bureau of Labor Statistics. In June, according to BLS, the nations civilian noninstitutional population, consisting of all people 16 or older who were not in the military or an institution, hit 250,663,000. Of those, 157,037,000 participated in the labor force by either holding a job or actively seeking one. The 157,037,000 who participated in the labor force equaled only 62.6 percent of the 250,663,000 civilian...
  • 56,085,000 Women Not in Labor Force; Participation Rate Declines to 56.7%

    07/02/2015 8:20:27 PM PDT · by Olog-hai · 13 replies
    Cybercast News Service ^ | July 2, 2015 | 9:17 AM EDT | Ali Meyer
    There were 56,085,000 women 16 or older who did not participate in the nations labor force in June, as the labor force participation rate dropped to 56.7 percent, according to the Bureau of Labor Statistics. This means that 56,085,000 women did not have a job or actively seek one in the past four weeks. The civilian labor force, which consists of all people in the civilian noninstitutional population who either had a job during the month or actively sought a job declined in June to 73,547,000 from the 73,577,000 in the labor force in May.
  • Why Black Women Still Have Not Recovered From the Recession

    07/01/2015 11:33:18 AM PDT · by Citizen Zed · 47 replies
    National Journal ^ | 7-1-2015 | J. WESTON PHIPPEN
    For Black women, education makes the least difference in earning potential, among other factors. Angie Stackhouse worked as a pharmacist, a loan officer, as a volunteer at homeless organizations and mostly as an electrician in Maryland, making $12.50 an hour. She's worked since she was 14. When the recession took her career seven years ago, she knew she'd find another one. Except, the only work available paid minimum wage. At 47-years-old, in 2010, Stackhouse enrolled in school to reinvent herself. "I'll definitely get a job," she recalls thinking, "because I'll have a degree." That was around the time President Obama...
  • The Economic Illiteracy Of Obama's Overtime Rule

    06/30/2015 4:27:43 PM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 06/30/2015 | Staff
    Regulations: With the flick of his magic pen, President Obama will soon grant millions of workers overtime play. At least, that's the fantasy being peddled by the White House and regurgitated by a credulous press.
  • Black Chamber of Commerce: EPA Clean Air Plan Will Increase Black Poverty 23%

    06/28/2015 5:39:44 PM PDT · by dontreadthis · 15 replies
    cnsnews ^ | June 24, 2015 | Ali Meyer
    FULL TITLE: Black Chamber of Commerce: EPA Clean Air Plan Will Increase Black Poverty 23%, Strip 7,000,000 Black Jobs (CNSNews.com) - A study commissioned by the National Black Chamber of Commerce, which represents 2.1 million black-owned businesses in the United States, found that the Environmental Protection Agencys (EPA) Clean Power Plan would increase black poverty by 23 percent and cause the loss of 7 million jobs for black Americans by 2035. The study also found that the EPA' plan would increase Hispanic poverty by 26 percent and cause the loss of 12 million jobs for Hispanic Americans by 2035. The...
  • Black Chamber of Commerce: EPA Clean Air Plan Will Increase Black Poverty 23%, Strip .. Black Jobs

    06/24/2015 9:55:43 AM PDT · by george76 · 50 replies
    CNS News ^ | June 24, 2015 | Ali Meyer
    A study commissioned by the National Black Chamber of Commerce, which represents 2.1 million black-owned businesses in the United States, found that the Environmental Protection Agencys (EPA) Clean Power Plan would increase black poverty by 23 percent and cause the loss of 7 million jobs for black Americans by 2035. The study also found that the EPA' plan would increase Hispanic poverty by 26 percent and cause the loss of 12 million jobs for Hispanic Americans by 2035. The EPA proposed the Clean Power Plan on June 2, 2014 to cut carbon emissions from power plants. ... There was a...
  • Obama: My top priority is always the economy

    06/13/2015 8:05:14 AM PDT · by PROCON · 35 replies
    investors.com ^ | June 13, 2015 | ANDREW MALCOLM
    President Obama's weekly remarks Hi, everybody. My top priority as President is to grow the economy and help more hardworking Americans get ahead. And after the worst economic crisis in our lifetimes, our businesses have now created 12.6 million new jobs over the past 63 months.
  • Phony "Jobs Boom"

    06/12/2015 2:57:50 PM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 12, 2015 | Donald Lambro
    WASHINGTON - All of the euphoric stories you've read lately about the surging job market should include one of these cautionary notes: This report omits all negative data, or "read down to the very bottom where we've buried the bad stuff." Consider the Washington Post's front page headline last week that gushingly characterized the Labor Department's minimal monthly employment numbers as a "jobs boom." The Bureau of Labor Statistics says that the economy produced 280,000 new jobs in May. But this isn't anywhere near a hiring boom, especially in a country of nearly 160 million workers, many of whom still...
  • America has the most job openings in 15 years

    06/09/2015 11:48:10 AM PDT · by Citizen Zed · 55 replies
    cnn money ^ | 6-9-2015
    American businesses have a lot of "we're hiring" signs up. There were 5.4 million job openings in the U.S. in April -- the highest number of openings in 15 years. It is a record high since the Bureau of Labor Statistics began tracking monthly job openings in December 2000. The surge in job openings this spring was even better than expected, according Peter Boockvar, chief market analyst at the Lindsey Group. It's another sign that the economy appears to be rebounding and the winter slowdown was just a blip. Who's hiring? Over the past year, health care, business services and...
  • What's swelling the ranks of involuntary part-timers

    06/09/2015 10:56:04 AM PDT · by AT7Saluki · 19 replies
    cBS Moneywatch ^ | 6/9/15 | Mark Thomas
    During the Great Recession, involuntary part-time employment surged. So, now that the economy is recovering, shouldn't involuntary employment return to prerecession levels? Perhaps not, according to new research from the San Francisco Fed. Changes in the U.S. economy's industrial composition toward services combined with shifting demographics and changes in labor costs appear to have caused a permanent increase in the percentage of people forced to accept involuntary part-time employment.
  • Outflanking Democrats on College Costs

    06/05/2015 1:23:06 PM PDT · by Kaslin · 8 replies
    Townhall.com ^ | June 5, 2015 | Mona Charen
    Many political debates in the upcoming presidential race will play out this way: The Democrat will offer "X for all," and the Republican will respond, "Do you have any idea how much that's going to cost?" That's the way nearly all political debates are engaged -- usually to the disadvantage of Republicans (and the public fisc). That's why I wished, while attending a panel on higher education reform sponsored jointly by the Ethics and Public Policy Center and The Bradley Foundation, that every Republican candidate in America had been listening. The Democrats have a tried-and-true formula (which is actually false,...
  • Payroll Stats Become Even More Implausible: The Job Numbers Literally Do Not Add Up

    06/05/2015 1:23:53 PM PDT · by SeekAndFind · 18 replies
    Alhambra Investment Partners ^ | 06/05/2015 | Jeff Snider
    Payroll Stats Become Even More ImplausibleSince Q1 GDP was revised lower by almost 1% that meant estimates of productivity were going to be even more out of alignment than they were at the first release. Of course, in a less massaged environment productivity might have preserved some sense if there was less rigidity from the BLS on the employment side. In other words, when output estimates were reduced (and they were, by more than GDP) it would make sense that everything would be revised downward in a more cohesive process. Instead, output was reduced significantly, by 1.4%, while total hours...
  • Where The May, 2015 Jobs Were: Teachers, Waiters, Retail, And Temp Help

    06/05/2015 1:18:23 PM PDT · by SeekAndFind · 5 replies
    Zero Hedge ^ | 06/05/2015 | Tyler Durden
    One of the defining features of jobs "recovery" and the main reason why wage growth has been so far below the Fed's expectations for years it has prevented wage inflation from appearing despite years of QE, is that the quality of jobs added month after month has disappointing. May was no difference.Yes, the headline print of 280K job additions was great, but a quick look at how the BLS got there shows that nothing has changed because four of the five main job additions were, as usual for the lowest paid jobs. Here is the breakdown: Education and Health...
  • David Brooks: 'Obama Has Run An Amazingly Scandal-Free Administration' [mentions my blog]

    05/31/2015 4:47:12 PM PDT · by grundle · 52 replies
    Newsbusters ^ | May 31, 2015 | Tom Blumer
    <p>Despite 6-1/2 years of horrid governance and dozens of acknowledged scandals, several of which a few of the credible remaining outposts of liberal thought have actually agreed are scandals, David Brooks, the New York Times's resident fake conservative, asserted on Friday's PBS NewsHour, as if it's an indisputable fact, that "President Obama has run an amazingly scandal-free administration, not only he himself, but the people around him."</p>
  • Wall Street Costs The Economy 2% Of GDP Each Year

    05/31/2015 9:26:06 AM PDT · by dila813 · 59 replies
    Forbes ^ | 31-MAY-2015 | Steve Denning
    Wall Street is back, says the New York Times, and the economic cost is high. The excessive financialization of the US economy reduces the GDP by 2% every year, according to a new study by International Monetary Fund. Thats a massive drag on the economysome $320 billion per year. Wall Street has thus become, not just a moral problem with rampant illegality and outlandish compensation of executives and traders: Wall Street is a macro-economic problem of the first order.
  • ISIS rises, the economy falters, and Obamas legacy falls apart

    05/24/2015 8:36:44 AM PDT · by Libloather · 28 replies
    NY Post ^ | 5/23/15 | John Podhoretz
    Deep into the seventh year of his tenure, Barack Obama is thinking about his post-presidential legacy. We know this because hes telling us so. In an interview this week with The Atlantic about the potential deal with Iran regarding its nuclear program, the president sought to use the fact of his relative youth and his consciousness about how history might judge him to his advantage: Look, 20 years from now, Im still going to be around, God willing. If Iran has a nuclear weapon, its my name on this. I think its fair to say that in addition to our...
  • U.S. retail gasoline prices lowest since 2009 heading into Memorial Day weekend

    05/22/2015 5:07:46 AM PDT · by thackney · 12 replies
    Energy Information Administration ^ | MAY 22, 2015 | Energy Information Administration
    On May 18, the U.S. average retail price for gasoline was $2.74 per gallon ($/gal), or 92 per gallon (/gal) lower than at the same time last year. This is the lowest average price heading into the Memorial Day weekendthe traditional start of the summer driving seasonsince 2009. Lower gasoline prices reflect lower crude oil prices, with the spot price of North Sea Brent crude oil at more than $45 per barrel ($/b) lower than the same time last year, despite having increased more than $10/b since the beginning of February. Average retail prices for all regions of the country...
  • Hillary;"Grateful" For Obama's Work on Economy, But "Deck Still In Favor Of Those At The Top"

    05/19/2015 4:02:11 AM PDT · by lbryce · 14 replies
    Real Clear Politics ^ | May 18, 2015 | Ian Schwartz
    Original Title; Hillary Clinton: "Grateful" For Obama's Work on Economy, But "Deck Is Still Stacked In Favor Of Those At The Top"On Monday, Democratic presidential candidate Hillary Clinton spoke to a small group of Iowans at a "house party" event in Mason City. In this part of her speech Clinton talked about domestic issues such as the economy and the Affordable Care Act (ACA). The video is from a livestream captured by Bloomberg's Jennifer Epstein on Periscope. Clinton praised Obama for the "hard work" he's done on the economy, but lamented the "deck is still stacked in favor of those...
  • 7,231,000 Lost Jobs: Manufacturing Employment Down 37% From 1979 Peak

    05/13/2015 6:43:50 AM PDT · by xzins · 40 replies
    CNS ^ | May 12, 2015 | Terence P. Jeffrey
    The number of jobs in manufacturing has declined by 7,231,000--or 37 percent--since employment in manufacturing peaked in the United States in 1979, according to data published by the Bureau of Labor Statistics. The real median household income of Americans who have completed high school--but have not attained a higher degree--also peaked in the 1970s and has declined since then. In fact, according to the Census Bureau (Tables H-13 and H-14), the real median household income of an American householder who has completed four years of high school peaked in 1973 at $56,395 in constant 2013 dollars. By 2013, it was...
  • Major U.S. Retailers Are Closing More Than 6,000 Stores

    05/03/2015 4:02:11 PM PDT · by dennisw · 144 replies
    zerohedge ^ | 05/02/2015 | Michael Snyder
    Submitted by Michael Snyder via The Economic Collapse blog, If the U.S. economy really is improving, then why are big U.S. retailers permanently shutting down thousands of stores? The retail apocalypse that I have written about so frequently appears to be accelerating. As you will see below, major U.S. retailers have announced that they are closing more than 6,000 locations, but economic conditions in this country are still fairly stable. So if this is happening already, what are things going to look like once the next recession strikes? For a long time, I have been pointing to 2015 as a...
  • Marco Rubio Vows Never to Raise Taxes as President

    04/29/2015 12:09:01 PM PDT · by entropy12 · 41 replies
    Yahoo Finance ^ | 04/29/15 | Sahil Kapur
    Rubio follows fellow Republican nomination aspirants Senator Ted Cruz of Texas and Senator Rand Paul of Kentucky, both of whom signed the pledge last week. His move could put fellow Floridian mentor-turned-rival Jeb Bush in a difficult position in the brewing 2016 presidential contest.