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Keyword: recession

Brevity: Headers | « Text »
  • ‘Ridiculous’: Administration punts on Keystone, Obama faces Dem revolt

    04/18/2014 12:29:05 PM PDT · by Red in Blue PA · 68 replies
    The Obama administration once again has punted on a final decision for the Keystone XL pipeline, announcing ahead of the holiday weekend that it is extending a key review period indefinitely -- a move that could push off a determination until after the midterm elections. Republicans, as well as red-state Democrats who want the pipeline approved, slammed the administration for the delay. "It's absolutely ridiculous that this well over five year long process is continuing for an undetermined amount of time," Sen. Heidi Heitkamp, D-N.H., said in a statement.
  • America’s 18 Year Recession That Started in 1997 (It Didn’t End In June 2009)

    04/13/2014 9:17:13 AM PDT · by Nachum · 24 replies
    Confounded Interest ^ | 4/13/14 | Anthony B. Sanders – George Mason University
    The U.S. economy has been in a recession since 1997. While I am not referring to the NBER’s definition of a recession (that allegedly ended in June 2009), I am talking about declining real incomes, labor force participation and M2 Money Velocity. Both labor force participation and M2 Money Velocity peaked in 1997 while real median household income peaked in 1999. And all three have been declining ever since.And to add another slap in the face to consumers, the purchasing power for consumers has been deteriorating ever since the creation of The Federal Reserve System in 1913.Once the 16 year...
  • Women's clothing retailer Coldwater Creek to close its doors

    04/12/2014 8:46:11 AM PDT · by afraidfortherepublic · 54 replies
    Minneapolis Star Tribune ^ | 4-11-14 | Jackie Crosby
    <p>The women’s clothing retailer failed to find a buyer or new capital. A liquidation sale is planned.</p> <p>Women’s specialty clothing chain Coldwater Creek filed for bankruptcy on Friday and said it will close all of its stores around the country, including 11 in Minnesota.</p>
  • Santelli Slams "Don't Ignore The Long-End... Recessionary Pressures Are Building"

    04/10/2014 7:36:05 PM PDT · by Nachum · 2 replies
    Zero Hedge ^ | 4/10/14 | tyler durden
    With 30 year bond yields set to close their lowest in 10 months, CNBC's Rick Santelli is concerned at the signals that the Treasury yield curve is sending.If yesterday's minutes from the Fed were supposed to walk back their 'hawkish' tone, then Santelli slams they are "gonna need a really big billboard" because the term structure is still flattening. "When 'flattening' is the theme, that is not painting a rosy outlook for the long-term economy," and as Santelli warns, this is when the Fed is pulling out of its extraordinary policies. Santelli screams, "the entire monetary policy side has to...
  • Bill Clinton Points Out Gloomy State of Economy Under Obama

    04/10/2014 3:16:30 PM PDT · by 2ndDivisionVet · 22 replies
    Breitbart's Big Government ^ | April 10, 2014 | Charlie Spiering
    During his speech at the Civil Rights Summit held at the LBJ Presidential Library, former President Bill Clinton sounded a gloomy note about the current state of the economy under President Obama. Clinton, whom Obama frequently described as the “Secretary of Explaining Stuff,” pointed out that the current state of the economy made it more difficult to unite Americans politically. “It is all the more difficult today because of the economic conditions that we find ourselves, where medium family income today after inflation is still lower than it was the day I left office,” he said, adding, “where all over...
  • Family Dollar to close (370) stores as shoppers pinched (Recovery Spring!)

    04/10/2014 12:11:44 PM PDT · by Red in Blue PA
    Dollar stores are feeling the pinch from mounting financial pressures on low-income shoppers.Family Dollar said Thursday that will cut jobs and close about 370 underperforming stores as it tries to reverse sagging sales and earnings. The discount store operator will also permanently lower prices on about 1,000 basic items.
  • The State Of The Big Four Recession Indicators

    04/04/2014 4:36:57 PM PDT · by blam · 7 replies
    BI - Advisor Perspetives ^ | 4-4-2014 | Doug Short, Advisor Perspectives
    The State Of The Big Four Recession Indicators Doug Short, Advisor Perspectives April 4, 2014, 6:25 PM Note from dshort: This commentary has been revised to include today's release of the March Nonfarm Employment data.Official recession calls are the responsibility of the NBER Business Cycle Dating Committee, which is understandably vague about the specific indicators on which they base their decisions. This committee statement is about as close as they get to identifying their method. There is, however, a general belief that there are four big indicators that the committee weighs heavily in their cycle identification process. They are: Industrial...
  • It Was Never a 'Great Recession' In New York City (The City Did Not Experience a Housing Bust)

    04/03/2014 6:49:08 AM PDT · by SeekAndFind · 10 replies
    RCM ^ | 04/03/2014 | Robert Doar
    Sometimes success creates a problem. That's what happened in New York City with housing and homelessness. New York's housing market is very strong. The median price for a new condo in Manhattan rose to $1.73 million during the first quarter of 2014, up more than 30.6% from the first quarter of 2013, according to a market report from the real estate firm Douglas Elliman. Across the East River, the median price for a Brooklyn home reached $570,110, up 11 percent from a year earlier. The average monthly rent in Bushwick, a central Brooklyn neighborhood, which as recently as the 1970s...
  • U.S. jobs market dropouts increasingly likely to stay out

    03/27/2014 6:18:16 AM PDT · by Red in Blue PA · 9 replies
    WASHINGTON (Reuters) - A growing number of Americans quitting the labor force are likely gone for good, offering a cautionary note to the Federal Reserve as it tries to gauge how tight the jobs market is and how quickly to raise interest rates. For a long time, data suggested a significant portion of the decrease in labor force participation was because many job seekers had grown frustrated with their search and had given up looking. If the job market tightened enough, the thinking went, these Americans would be lured back to hunt for work again.
  • Fed's Bullard says U.S. jobless rate expected to fall below six percent this year (utter BS!)

    03/26/2014 4:12:54 AM PDT · by Red in Blue PA · 12 replies
    HONG KONG (Reuters) - The U.S. unemployment rate will fall below 6 percent by the end of this year, a Federal Reserve official said on Wednesday, offering a bullish view on the country's economy after central bank comments sent shock waves through financial markets last week. James Bullard, president of the Federal Reserve Bank of St. Louis, said that the outlook for the U.S. economy is "quite good," despite data from early in the year. "The biggest thing is that unemployment has come down more quickly than expected," said Bullard, speaking on a panel at the annual Credit Suisse investor...
  • 20 Facts About The Great U.S. Retail Apocalypse That Will Blow Your Mind

    03/11/2014 12:24:53 AM PDT · by 2ndDivisionVet · 83 replies
    The Economic Collapse ^ | March 9, 2014 | Michael Snyder
    If the U.S. economy is getting better, then why are major retail chains closing thousands of stores? If we truly are in an "economic recovery", then why do sales figures continue to go down for large retailers all over the country? Without a doubt, the rise of Internet retailing giants such as Amazon.com have had a huge impact. Today, there are millions of Americans that actually prefer to shop online. Personally, when I published my novel I made it solely available on Amazon. But Internet shopping alone does not account for the great retail apocalypse that we are witnessing. In...
  • McDonald's February same-restaurant sales fall 0.3 percent

    03/10/2014 5:41:34 AM PDT · by Red in Blue PA · 75 replies
    McDonald's Corp (MCD) on Monday reported a bigger-than-expected drop in comparable global sales at established restaurants for February, hurt by competition and bad weather that battered U.S. sales.The world's biggest restaurant chain by revenue said worldwide sales at restaurants open at least 13 months fell 0.3 percent last month. That was below analysts' average estimate for a fall of 0.1 percent, according to Consensus Metrix.
  • Staples to shut 225 stores in North America as sales fall

    03/06/2014 4:24:24 AM PST · by Red in Blue PA · 119 replies
    (Reuters) - Staples Inc (SPLS), the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015. Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter results and forecast current-quarter profit below analysts' estimates. The company operates 1,515 stores in the United States and 331 stores in Canada.
  • ROSENBERG: 'The Chances Of A Recession In The Next Year Or Two Are Close To Zero'

    03/04/2014 11:52:35 AM PST · by blam · 29 replies
    Advisor Perspectives ^ | 3-4-2014 | Robert Huebscher
    ROSENBERG: 'The Chances Of A Recession In The Next Year Or Two Are Close To Zero' Robert Huebscher, Advisor Perspectives Mar. 4, 2014, 10:50 AM Following a lackluster recovery that began in June 2009, many fear the U.S. is due for another recession, given that the average post-war economic expansion lasted five years. But we’re only in the “fourth or fifth inning of the business cycle,” according to David Rosenberg, who predicts growth in consumer and capital spending – and positive returns for U.S. equities. “It takes a lot to shock the U.S. economy into a recession,” Rosenberg said. None...
  • Fed may need to let inflation run hot to meet goals: Evans (here it comes!)

    02/28/2014 3:14:58 PM PST · by Red in Blue PA · 21 replies
    NEW YORK (Reuters) - The Federal Reserve should be willing to let inflation temporarily run above its target level so as to more quickly bring the economy back to health, a top Fed official said on Friday, even as a second policymaker signaled the very idea left him cold. The debate, between Chicago Fed President Charles Evans and Philadelphia Fed President Charles Plosser, underscored a fundamental disagreement over the central bank's optimal approach to policy under new Fed Chair Janet Yellen. To Evans, one of the Fed's most dovish policymakers, allowing inflation to run above the Fed's 2-percent target would...
  • Consumer confidence falls in February

    02/25/2014 8:03:32 AM PST · by Red in Blue PA · 4 replies
    Consumer confidence sagged in February as expectations worsened, according to a private sector report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes fell to 78.1 from a downwardly revised 79.4 in January. Economists in a Reuters poll had expected 80.0. The expectations index fell to 75.7 from a downwardly revised 80.8 last month. But the present sit
  • Food prices soar as incomes stand still

    02/17/2014 4:03:22 PM PST · by Red in Blue PA · 50 replies
    CBS ^ | February 15, 2014, 8:02 PM | Michelle Miller
    NEW YORK - Writer Jen Singer, the mother of two teenage boys, wrestles with her grocery list every week to keep the household budget from getting away from her. "I'd like the government to stop by my house, come food shopping with me and see where the real costs are," she said. The adage "An apple a day keeps the doctor away" is impossible thanks to apple prices, she said. "We go through one of these every few days," she said, holding a loaf of bread. "It's a big part of my take home pay."
  • Cold weather slams U.S. factory output, spurs growth fears

    02/14/2014 3:17:55 PM PST · by Red in Blue PA · 27 replies
    WASHINGTON (Reuters) - U.S. manufacturing output unexpectedly fell in January, recording its biggest drop in more than 4-1/2 years, as cold weather disrupted production in the latest indication the economy got off to a weak start this year. Though consumer sentiment was steady in early February, there are worries the persistent and widespread harsh weather could dampen the morale of households, whose budgets are being stretched by soaring heating bills. "The big question is whether the U.S. economy is slowing significantly or whether it is merely going through a soft patch caused by extreme weather. The evidence points to the...
  • Meet the 99.999999 Percent: They’re worried about jobs and growth, not inequality.

    02/10/2014 8:46:06 AM PST · by SeekAndFind · 1 replies
    National Review ^ | 02/10/2014 | James Pethokoukis
    Forget about the 1 percent versus the 99 percent. It’s really more like the 0.000001 percent versus everybody else. A tiny group — mostly comprising the Obama White House, a bunch of Washington Democrats, progressive economists, and the media elite — continues to fixate on income inequality as America’s greatest challenge. Most everybody else, the 99.999999 percent, sees things differently. Surveys continue to show Americans most worried about jobs and economic growth, not the income gap between the top and bottom. It’s a rational view given new employment data from the government. The January jobs report showed only 113,000 net...
  • Wall Street to fall after jobs data; services eyed (jobs worse than expected)

    02/05/2014 6:04:57 AM PST · by Red in Blue PA · 15 replies
    * The U.S. private sector created 175,000 jobs in January, slightly below the expectation of 180,000, while the data for December was revised lower to 227,000 from 238,000. December's data widely overshot a broader report from the Labor Department which showed just 74,000 jobs were created in December. The market-moving government report is due Friday.
  • CBO: health care law (Obamacare) will reduce jobs by 2 million

    02/04/2014 9:09:41 AM PST · by Red in Blue PA · 46 replies
    The Affordable Care Act will reduce the number of full-time workers by more than two million in coming years, congressional budget analysts said Tuesday in the most detailed analysis of the law’s impact on jobs.
  • Nikkei dips 610 pts to 14,008 at close

    02/04/2014 2:28:21 AM PST · by Red in Blue PA · 16 replies
    Nikkei 225 Stock Average declined 610.66 pts or 4.18%, closing at 14,008.47. Toyota edged down by over 5%. Panasonic, Sharp and Hitachi will soon announce quarterly results. Nippon Paint tumbled 21% over the issuance of new shares.
  • Gold, Stocks See Change Of Fortune In 2014 -- Will It Last?

    01/31/2014 2:50:30 AM PST · by Red in Blue PA · 13 replies
    2014 brought a role reversal of sorts for gold and equities, with the metal higher and stocks lower, in contrast to last year’s performance. With January drawing to a close, can gold hold its gains and will equities continue to fall? Technical charts may offer some clues, analysts said. As of 1:20 p.m. EST, gold for April delivery was $18.60 lower to $1,243.60 per ounce on the Comex division of the New York Mercantile Exchange “Gold is returning to its historic role as a safe haven as we’re seen problems globally,” said Darin Newsom, senior analyst at Telvent DTN. “Equities...
  • U.S. jobless claims up modestly, labour market trend improving

    01/26/2014 5:18:32 AM PST · by Red in Blue PA · 8 replies
    By Lucia Mutikani WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits rose marginally last week, but the underlying trend suggested the labour market continued to steadily improve. Initial claims for state unemployment benefits ticked up 1,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.
  • Welcome to Jobless America

    01/25/2014 7:39:57 AM PST · by Kaslin · 63 replies
    Townhall.com ^ | January 25, 2014 | Jeff Crouere
    It is becoming laughable to hear the Obama administration talk about a so-called “recovery.” Supposedly, this “recovery” started in June of 2009; however, in reality our economy is on life support and the latest jobs figures just confirm this horrible news. In the government’s December labor report, the nation’s unemployment rate dropped to 6.7 percent, which is our lowest rate since October of 2008. While this may be heralded as good news, it is truly disturbing. Unfortunately, only 74,000 new jobs were added last month, the worst job growth numbers since January of 2011. This is anemic job creation,...
  • McDonald's sees fewer customers, sales disappoint

    01/23/2014 6:59:04 AM PST · by Red in Blue PA · 173 replies
    NEW YORK (AP) -- McDonald's reported disappointing sales for its fourth quarter Thursday, as the world's largest hamburger chain saw fewer customers visit its restaurants. The Oak Brook, Ill.-based company says global sales slipped 0.1 percent at established locations. In the U.S., where it recently revamped its Dollar Menu to include items that cost a little more, the figure fell 1.4 percent.
  • The missing piece in the global growth puzzle (no consumer demand)

    01/19/2014 3:42:01 PM PST · by Red in Blue PA · 41 replies
    "So many people – politicians, journalists, I'm afraid market analysts – sort of believe this story of an economics recovery going on around the world," Roger Nightingale, strategist at RDN Associates, told CNBC. "This economics recovery hasn't occurred. In fact, actually for the past 18 months people have been talking about it, the data is pretty flat. If anything, it's getting flatter." .... "The conventional response, among economists, is that the government must take action to boost domestic demand in the United States, with either monetary or fiscal stimulus, or by redistributing wealth," he said in a note, citing the...
  • Poll Indicates that Government Is Top Problem

    01/19/2014 9:39:26 AM PST · by John Semmens · 3 replies
    Semi-News/Semi-Satire ^ | 17 Jan 2014 | John Semmens
    A recent Gallup poll revealed that the number one problem facing America, according to those polled, is “the government.” Twenty-one percent listed this as the worst problem facing the nation. Rounding out the top five problems were the economy (18%), unemployment (16%), healthcare (16%), and government debt (8%). These poll results were dramatically out-of-sync with President Obama’s declaration that “income inequality” is this nation’s chief problem. Only 4% of the poll respondents agreed with his assessment. As one poll respondent explained, “my work hours have been cut and my health insurance canceled. My wife has been unemployed for three years....
  • Nintendo slashes 2014 sales forecast for Wii U from 9 million to 2.8 million

    01/17/2014 2:09:29 PM PST · by Red in Blue PA · 38 replies
    It's not even financials season yet, but Nintendo is trying to lower expectations in advance. In a statement today, it's announced that it's reassessed unit sales for its flagship Wii U console, shaving hacking it down from 9 million for April 2013 - March 2014 to just 2.8 million -- less than a third of the original estimate. It's also less than the number of Wii Us that Nintendo sold in its launch year. That was 3.45 million, if you're counting.
  • Exclusive: Intel says to reduce global workforce by 5 percent in 2014

    01/17/2014 1:24:36 PM PST · by Red in Blue PA · 13 replies
    SAN FRANCISCO (Reuters) - Intel Corp plans to reduce its global workforce of 107,000 by about 5 percent this year as the chipmaker, struggling with falling personal-computer sales, reprioritizes toward faster-growing areas, a company spokesman said on Friday. The announcement comes a day after Intel posted a fourth-quarter earnings report that did little to dispel concerns about a slowing PC industry. "This is part of aligning our human resources to meet business needs," spokesman Chris Kraeuter told Reuters on Friday.
  • Best Buy says holiday sales fall; shares tumble (down 30% in premarket trading)

    01/16/2014 5:14:39 AM PST · by Red in Blue PA · 27 replies
    NEW YORK (Reuters) - Best Buy Co Inc (BBY) reported a drop in total revenue and sales at its established U.S. stores in the all-important holiday season, sending shares tumbling more than 30 percent in early trading. The retailer cited intense discounting by rivals, supply constraints for key products and weak traffic in December. Best Buy's report was the latest evidence that holiday sales at many U.S. retailers came at the expense of margins.
  • JCPENNEY TO CUT 2,000 JOBS, CLOSE 33 STORES

    01/15/2014 1:52:48 PM PST · by Red in Blue PA · 94 replies
    JCPenney is cutting 2,000 jobs and closing 33 stores as the battered department store seeks to revive revenue growth, the company announced Wednesday. The move will save about $65 million annually beginning in 2014, the company said. JCPenney, which has about 1,100 stores, has struggled to turn a profit since former CEO Ron Johnson was fired in April.
  • Obama's Unemployment 'New Normal' Foretells A 'Lost Decade'

    01/14/2014 1:41:23 PM PST · by Red in Blue PA · 12 replies
    There was considerable weeping and gnashing of teeth over the December “Employment Situation” report released by the BLS on Friday. Analysts were expecting 200,000 new payroll jobs, but they got only 74,000. Some called the “bad” unemployment report a “statistical anomaly.” A quick look at the BLS Household Survey showed that, rather than being bad, December was actually a better-than-average month in President Obama’s “new normal” economy. This is not a huge accomplishment, given that “Obama’s new normal” comprises slow GDP growth, a stagnant jobs market, and falling real household incomes. However, the nation moved 133,000 jobs closer to full-time-equivalent*...
  • Retailers' present to Wall Street? A lump of coal (worst season since 2008)

    01/13/2014 12:29:13 PM PST · by Red in Blue PA · 19 replies
    A few weeks after consumers finished unwrapping presents, a wave of retailers are gifting Wall Street with lumps of coal. On Monday, Lululemon Athletica and Express became the latest retailers to warn investors of disappointing earnings in the holiday quarter. These negative forecasts follow similar warnings last week from a range of retail companies, including American Eagle Outfitters and Zumiez. In response, Lululemon stock shed 16 percent and Express shares dropped about 2.5 percent. In a release Monday, Lululemon's CFO said the company had seen "traffic and sales trends decelerate meaningfully" since the beginning of January. Because of that, Lululemon...
  • US Dec. nonfarm payrolls total 74,000 vs. 200,000 est.; unemployment rate at 6.7% vs. 7% est.

    01/10/2014 5:42:52 AM PST · by John W · 131 replies
    CNBC ^ | January 10, 2014 | Jeff Cox
    Job creation stumbled in December, with the U.S. economy adding just 74,000 positions even as the Federal Reserve voted to take the first steps in eliminating its stimulus program. The unemployment rate dropped to 6.7 percent, below economist estimates and due primarily to continued shrinkage in the labor force. The labor force participation rate tumbled to 62.8 percent, its worst level since January 1978.
  • Gov. Jerry Brown's budget tries to tame wild capital gains

    01/09/2014 11:53:13 PM PST · by A CA Guy · 5 replies
    The Los Angeles Times ^ | 01/09/2014 | Jon Healey
    Hey Wall Street, California owes you one. The prolonged bull market has produced two banner years for (stock Market) capital gains in the state, with an even better year expected in 2014. The result has been surging capital gains tax revenues, which account for all of the surplus projected by Gov. Jerry Brown for the coming year.
  • Barack Obama's Presidency Is A Complete Failure By His Own, Self-Imposed Standards

    12/31/2013 6:23:49 PM PST · by Innovative · 26 replies
    Forbes ^ | Dec 31, 2013 | Peter Ferrara
    At the end of 2013, after serving five years, Barack Obama is a complete failure as President, by his own standards, as reflected in his own words. How many times has President Obama told us that he is “fighting for the middle class”? But real median family income has been in a continuous downward spiral since he became President, actually falling more since the recession ended in the summer of 2009 according to the National Bureau of Economic Research than during the recession. That has added up by now to the middle class losing a month’s pay a year under...
  • The Democrats’ secret plan to extend unemployment

    12/15/2013 2:08:46 AM PST · by 2ndDivisionVet · 15 replies
    Hot Air ^ | December 14, 2013 | Jazz Shaw
    When “The Deal” was struck in the House this week there was one element which nearly had some of the congressional Democrats in open revolt. (And may still proved to be a problem in the Senate.) The progressive members wanted to tie an extension of unemployment benefits into the mix. But doing that without being willing to find the money to pay for it was going to prove a deal buster for the GOP, so it didn’t make the final cut. Never one to give up on an idea once he’s gotten his teeth into it, Chris Van Hollen has...
  • How Obamacare Could Kill the Housing Market in 2014

    12/10/2013 1:58:54 PM PST · by 2ndDivisionVet · 18 replies
    InvestorPlace ^ | December 10, 2013 | Ethan Roberts
    The Affordable Care Act (ACA), otherwise known as “Obamacare”, was created to give millions of uninsured Americans access to health care. But in their zeal to pass historic legislation, the designers and proponents of the law failed to consider the possible negative economic ramifications of the devilish details within the ACA, particularly as it may affect the real estate market. Within the last 12 years, we have already witnessed the strength that housing has upon the American economy. It is no coincidence that during the period from 2001 to 2006, both the real estate market and the general economy were...
  • Ghost Of 1929 Re-Appears - Pay Attention To The Signals

    12/07/2013 4:42:39 PM PST · by SteelToe · 80 replies
    ZeroHedge ^ | December 7, 2013 | Anthony Mirhaydari
    They say those who forget the lessons of history are doomed to repeat them. As a student of market history, I’ve seen that maxim made true time and again. The cycle swings fear back to greed. The overcautious become the overzealous. And at the top, the story is always the same: Too much credit, too much speculation, the suspension of disbelief, and the spread of the idea that this time is different. It doesn’t matter whether it was the expansion of railroads heading into the crash of 1893 or the excitement over the consolidation of the steel industry in 1901...
  • Holiday weekend sales dip on discounts; e-commerce jumps (attributed to lower prices, not economy)

    12/01/2013 3:44:00 PM PST · by Red in Blue PA · 27 replies
    NEW YORK (Reuters) - Heavy discounting took a toll on U.S. retail sales during the Thanksgiving weekend as shoppers spent almost 3 percent less than they did a year earlier, according to data released Sunday by an industry group. That could be an indication of a more difficult season for many retailers. One bright spot this weekend, according to the data, was e-commerce as online sales soared. The National Retail Federation estimated the average shopper spent $407.02 over the weekend, or 3.9 percent less than during the same weekend last year, because of lower prices it said would persist through...
  • Cisco’s disastrous quarter shows NSA spying could freeze US companies out of a trillion$ opportunity

    11/26/2013 9:57:52 AM PST · by kobald · 9 replies
    Quartz ^ | November 14, 2013 | Christopher Mims
    Cisco announced two important things in today’s earnings report: The first is that the company is aggressively moving into the Internet of Things—the effort to connect just about every object on earth to the internet—by rolling out new technologies. The second is that Cisco has seen a huge drop-off in demand for its hardware in emerging markets, which the company blames on fears about the NSA using American hardware to spy on the rest of the world. Cisco chief executive John Chambers said on the company’s earnings call that he believes other American technology companies will be similarly affected. Cisco...
  • Lanny Davis: We should 'hit the reset button' on ObamaCare

    11/21/2013 4:11:11 AM PST · by Red in Blue PA · 35 replies
    Video from last night.
  • A Tale of Two Recessions: Michigan actually lost more jobs in 2001 than 2008

    11/19/2013 8:06:10 AM PST · by MichCapCon · 6 replies
    Capitol Confidential ^ | 11/14/2013 | James Hohman
    Michigan's economy in the 21st Century is defined by two major recessions: the one in 2001 and the most recent in 2008. But the tale of two recessions is a cautionary one that says public policy that discourages business can play as big a part in economic down swings as plant closings, said James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. Consider that in the first three quarters of 2001, Michigan gained 808,142 jobs and lost 935,458. However, in the last quarter of 2008 and the first two quarters of 2009, Michigan lost 883,412...
  • Drilling Below the Surface of Obama's Dreadfully Weak Economic Numbers

    11/13/2013 9:05:23 AM PST · by Kaslin · 13 replies
    Townhall.com ^ | November 13, 2013 | Donald Lambro
    Barack Obama's presidency is falling apart, as a growing number of Americans now realize his promises of prosperity and jobs were bogus and his health care law a fabric of lies. A president who promised hope and change has given us despair and a failed,1930s agenda, as a once-mighty economy continues to limp toward the end of its fifth year in "recovery" -- yet with no full, lasting recovery in sight. Twelve months ago, a majority of voters handed him a second term. This week, the Gallup Poll reported that a 54 percent majority disapprove of the job he's doing...
  • Obama's Recovery: $1.3 Trillion Below Average

    11/08/2013 3:54:31 AM PST · by IBD editorial writer · 16 replies
    Investor's Business Daily ^ | 11/07/2013 | IBD Staff
    Recovery: The latest GDP report shows that President Obama's policies continue to weigh down the economy. Now 51 months old, his recovery is by far the weakest since the Great Depression. At 2.8%, real growth in the third quarter was higher than expected, a rarity. But the latest government data also hinted at weakness, as consumer and business spending slowed. In short, the strong growth everyone predicted at the start of the year is a no-show, just as the previous predictions of prosperity just around the corner proved false. It also means that Obama's recovery — now more than 4...
  • Barack Obama and the Myth of the Unforced Error

    11/01/2013 2:20:40 PM PDT · by jfd1776 · 3 replies
    Illinois Review ^ | November 1, 2013 A.D. | John F. Di Leo
    Many believe that the current administration – or perhaps more broadly, the current Democratic regime, by the triumvirate Obama, Pelosi, and Reid since the 2006 elections – will be remembered and condemned for its “unforced errors”… that is, for the unnecessary mistakes it has made, through mishandling programs and clumsily creating needless trouble by misreading economic cause-and-effect or societal trends. But were they truly errors at all? Were they mistakes? Much of the damage done by this administration has in fact been intentional – either out of some arrogant belief that “we elites know better than you do” or out...
  • RETAIL SALES: AWFUL

    10/29/2013 8:13:24 AM PDT · by SatinDoll · 37 replies
    The Market-ticker ^ | October 29, 2013 | Karl Denninger
    This is flat-out awful: The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $425.9 billion, a decrease of 0.1 percent (±0.5%)* from the previous month, but 3.2 percent (±0.7%) above September 2012. Total sales for the July through September 2013 period were up 4.5 percent (±0.5%) from the same period a year ago. The July to August 2013 percent change was unrevised from +0.2 percent (±0.2%)*. It's much worse than the headline folks. When I started...
  • In Fed and Out, Many Now Think Inflation Helps (here comes the propaganda)

    10/28/2013 9:24:16 AM PDT · by Red in Blue PA · 14 replies
    NY Times ^ | October 26, 2013
    WASHINGTON — Inflation is widely reviled as a kind of tax on modern life, but as Federal Reserve policy makers prepare to meet this week, there is growing concern inside and outside the Fed that inflation is not rising fast enough. Some economists say more inflation is just what the American economy needs to escape from a half-decade of sluggish growth and high unemployment. The Fed has worked for decades to suppress inflation, but economists, including Janet Yellen, President Obama’s nominee to lead the Fed starting next year, have long argued that a little inflation is particularly valuable when the...
  • Ted Cruz will be president if Democrats listen to Elizabeth Warren, warns Republican

    10/25/2013 10:09:18 PM PDT · by 2ndDivisionVet · 22 replies
    Salon ^ | October 25, 2013 | Alex Pareene
    What’s that, Daily Beast? “How Ted Cruz Can Win in 2016″? Oh, you are still around, and still doing this sort of thing? That’s great. Let’s take the bait, I guess. Our dutiful “hot take” artist today is David Frum, the famous apostate Republican who has dedicated the last few years to building a new Republican Party that is more moderate, more rational and less dedicated to taking dead-ender stands on cultural issues. He is not, in other words, the sort of Republican Ted Cruz appeals to. Frum has devoted more words to Cruz’s savvy than to his worldview, but...