Keyword: recovery

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  • Global Leading Indicator Plunges To Economic "Slowdown", Goldman Warns

    09/21/2014 7:01:39 PM PDT · by blam · 9 replies
    Zero hedge ^ | Tyler Durden
    Tyler Durden 09/21/2014 Just two short months ago, Goldman Sachs was exuberant over the 'expansion' signals that the firm's Global Leading Indicator Swirlogram was exhibiting as it confirmed their 'economists' expectations that the Keynesian hockey-stick of hope would once again re-appear majestically in H2 2014 and lift America (and the world) to escape velocity. That dream is over. Confirming the collapse of world GDP expectations, Goldman's GLI has plunged into 'slowdown' with momentum starting to slow. Perhaps, just perhaps, as we noted previously, this time is not different and the annual cycle of extrapolating early-year hope is rapidly turning to...
  • For 90% Of Americans: There Has Been No Recovery

    09/11/2014 7:03:28 AM PDT · by SeekAndFind · 23 replies
    Street Talk Live ^ | 09/11/2014 | Lance Roberts
    Every three years the Federal Reserve releases a survey of consumer finances that is a stockpile of data on everything from household net worth to incomes. The 2013 survey confirms statements I have made previously regarding the Fed's monetary interventions leaving the majority of Americans behind: "While the ongoing interventions by the Federal Reserve have certainly boosted asset prices higher, the only real accomplishment has been a widening of the wealth gap between the top 10% of individuals that have dollars invested in the financial markets and everyone else. What monetary interventions have failed to accomplish is an increase in production...
  • U.S. consumer spending falls for first time in six months

    08/29/2014 5:47:16 AM PDT · by Oldeconomybuyer · 7 replies
    Market Watch ^ | August 29, 2014 | By Jeffry Bartash
    Consumer spending fell in July for the first time in six months, as Americans cut back on purchases of new cars and other retail goods, the government reported Friday. The drop in spending was a bit of a surprise: economists polled by MarketWatch had predicted a seasonally adjusted 0.1% increase. The growth in incomes, meanwhile, slowed to 0.2% pace in July from 0.5% in each of the prior two months. It was the smallest gain since December and also below Wall Street expectations.
  • What States are the Biggest Job Winners and Losers in the Recovery?

    08/18/2014 6:36:36 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | August 18, 2014 | Mike Shedlock
    The Deloitte University Press has a very interesting, and comprehensive study on job gains and losses, by type of job, and state by state. The biggest winners are states involved in energy production, finance, or healthcare. The biggest losers are states that did not recover from the real estate bust, or lost population due to emigration. With that overview, let's dive deeper into the Geography of Jobs. Only now, as we reach the fifth anniversary of the end of the recession, has employment in the United States finally regained its pre-recession peak. The national story of slow recovery obscures the...
  • President Says We’re Better off “on Practically Every Economic Measure”

    07/28/2014 6:24:35 AM PDT · by John Semmens · 24 replies
    Semi-News/Semi-Satire ^ | 25 July 2014 | John Semmens
    In an interview on CNBC this past week President Barack Obama boasted that his programs “have made America better off on practically every economic measure.” He contended that “the seemingly negative outcomes cited by my critics stem from false consciousness.” “From a broad perspective let’s consider the declining participation in the workforce that many in the GOP harp on,” Obama suggested. “Work, as any economist will tell you, is a disutility. People don’t work because they want to. They work because they have to. The fact that a growing number of Americans can live their lives without having to work...
  • Has President Obama Had Any Impact on the Stock Market’s Success?

    07/26/2014 8:29:09 AM PDT · by Kaslin · 39 replies
    Townhall.com ^ | July 26, 2014 | Mark Skousen
    I received a note the other day from a social Democrat, who wrote: “When Obama came to power the Dow Jones Industrial Average was 7,900, today it is over 17,000. When he came to power, the Federal Budget deficit was 11% of gross domestic product (GDP), today it is 2.8%. When he came to power, the economy was in a free fall and losing 8 million jobs, today it is growing and all the lost jobs have been recovered. We are poised today to become the greatest energy producer in the world and North America will produce more oil and...
  • The Brilliance of Obamanomics

    07/23/2014 6:56:45 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | July 23, 2014 | Michael Schaus
    Brace yourself… Skepticism, doubt and criticism of Obamanomics (all of which are, undoubtedly, based in racism) will be cast aside. Why? Because, according to the 20-something-year-old White House intern that is in charge of the official White House twitter account, “Our businesses have added nearly 10 million new jobs over the past 52 months.” I know, right? Pretty awesome statistic. (Gloss over the fact that the President is referring to private enterprise as “our businesses”.) But before you rush out to slap an Obama ‘16 sticker on your car (are those stickers available yet?), you may want a little bit...
  • Detroit showing signs of recovery ahead of bankruptcy trial

    07/21/2014 9:48:56 AM PDT · by SeekAndFind · 60 replies
    The Guardian ^ | 07/21/2014
    Detroit neighbourhoods are being relit, its vacant homes are being sold off or torn down, its public transportation is cleaner and more often on schedule and the city has renegotiated some burdensome union contracts. In the little more than a year since the state-appointed emergency manager, Kevyn Orr, made Detroit the largest US city to seek bankruptcy protection, it has experienced a wide range of improvements that will factor into Judge Steven Rhodes's decisions during next month's bankruptcy trial. A major piece of the bankruptcy puzzle could fall into place on Monday, with the expected release of the results of...
  • The New Republic: Recovery Summer May Finally Have Arrived

    07/04/2014 5:48:29 AM PDT · by SeekAndFind · 39 replies
    The New Republic ^ | 07/04/2014 | By Danny Vinik
    <p>For the past few years, it was like clockwork: A disappointing summer of job growth would give way to a much stronger winter. Economists would hesitantly forecast that the economy was about to kick into second gear. Then the summer would come and the disappointing data would return. But finally, looks like we're ready to break that trend: The economy added 288,000 jobs in June, soundly beating economists’ expectations of 211,000, and the unemployment rate fell to 6.1 percent.</p>
  • GDP shrinks 2.9%; Obama's economic growth gap grows to $1.6 Trillion

    06/26/2014 4:09:07 AM PDT · by IBD editorial writer · 20 replies
    Investor' Business Daily ^ | 06/25/2014 | IBD Staff
    Shrinkage: Economists are writing off the sharp 2.9% drop in first-quarter GDP as a temporary contraction. Maybe. What isn't temporary is President Obama's massively subpar growth record over the past five years. [snip] In the nearly five years since the Obama recovery started — just months into Obama's first term — real gross domestic product has increased only 10.2%. That's less than half the average growth rate for every other economic recovery since World War II, and almost a third less than the pace set during the Reagan recovery. Looked at in dollar terms, if the Obama recovery had merely...
  • CNN Money Reaction to 2.9% GDP Drop: 'This Recovery Is Underway'

    06/25/2014 8:07:31 AM PDT · by PJ-Comix · 40 replies
    NewsBusters ^ | June 25, 2014 | P.J. Gladnick
    Hooray! The Gross Domestic Product shrank by 2.9% in the first quarter of the year. "This recovery is underway." Your humble correspondent was very careful to put the previous sentence in quotes because I don't want you to think I've taken leave of my senses. This amazing conclusion comes to us courtesy of CNN Money spinmeister Annalyn Kurtz who starts out on a rather gloomy note but manages to spin her way into economic joy:
  • America’s Top Metros: Who’s Leading the Recovery, and Why

    06/20/2014 6:58:31 AM PDT · by SeekAndFind · 7 replies
    Manhattan Institute ^ | 06/20/2014 | Tom Gray and Robert Scardamalia
    In a slow, uneven economic recovery, some cities have managed not only to survive but even to thrive. Their stories, along with those of the not-so-successful, are the subject of this study. Using data since 2009 for the nation’s metropolitan statistical areas (MSAs), we identify leaders and laggards as measured by growth in economic output (GDP), personal income, and jobs. Among the 100 largest MSAs—which together make up about two-thirds of the nation’s population—we take a detailed look at the top 20 and bottom 20 economic performers. For each of these metros, we examine a number of factors that may...
  • 11 Million On Disability: Why Are Rolls Rising So Fast?

    06/17/2014 6:42:54 AM PDT · by IBD editorial writer · 43 replies
    Investor's Business Daily ^ | 06/17/2014 | John Merline
    The total number of Americans now on the Social Security Disability Insurance program topped 11 million in May, a record high and an increase of 18% since January 2009, according to new data from the Social Security administration, furthering a trend that will have severe economic and budget consequences. More than 5.2 million workers have enrolled in the program since President Obama took office, and enrollment is climbing faster under Obama than at any time in the program's history. An average 81,000 workers joined the Social Security Disability Program each month during Obama's years. Under President Bush, by contrast, monthly...
  • Goldman's Top Economist Just Made The Call We've Been Waiting 5 Years To Hear

    06/09/2014 1:02:53 PM PDT · by blam · 47 replies
    BI ^ | 6-9-2014 | Joe Weisenthal
    Joe Weisenthal June 9, 2014 Goldman's top economist, Jan Hatzius, just said the words we've been wanting to hear for five years. He believes the economy is now growing at an above-trend pace. Goldman's own proprietary current activity indicator (CAI) is showing its fastest growth since the crisis, and though he acknowledges that some of the strong May activity is the result of a snapback from a tough winter, he says that even without that snapback we're still growing at a strong rate. Here's his statement: Despite the 1% drop in real GDP in the first quarter, we believe that...
  • We're Getting Evidence Of An Economic Breakout From A Very Important Source

    06/08/2014 7:49:08 AM PDT · by blam · 30 replies
    BI ^ | 6-8-2014 | Joe Weisenthal
    Joe Weisenthal June 8, 2014 The evidence is piling up that the economy is bursting out of the winter doldrums, as basically all of the May economic data has been hot. The latest evidence comes from what may be the most important source of all: The credit markets. Specifically, credit expansion is accelerating. On Friday we got fresh data on bank lending and consumer credit. The below chart shows the year-over-year change in loans and leases from commercial banks (red line) and revolving consumer credit, AKA credit card usage, in the blue line. What's clear is that both are on...
  • The Scariest (Jobs) Chart Ever Is Dead

    06/06/2014 8:30:26 AM PDT · by blam · 11 replies
    BI ^ | 6-6-2014 | Joe Weisenthal
    Joe Weisenthal Jun. 6, 2014 We just hit a big milestone with today's jobs report. We've finally recovered all of the jobs lost during the recession. We needed 113,000 jobs today to do it and easily cleared that bar with a gain of 217,000 jobs in May. Of course because of population growth, we're still "behind" in terms of total jobs, but at least this is one benchmark that's been cleared. For a long time we've been running this chart from Calculated Risk, showing how deep this jobs recession has been compared to past ones, and our nickname for it...
  • The Obama ‘Recovery’: As Bad as (or Worse than) the Great Depression?

    06/05/2014 9:06:03 AM PDT · by SeekAndFind · 9 replies
    Pajamas Media ^ | 06/05/2014 | Tom Blumer
    At West Point last week [1], President Barack Obama went to a variant of an economic theme he’ll probably reprise until the day he leaves the Oval Office once and for all (we hope) 31-plus months from now.Obama told the assembled graduating Army cadets and their families: When I first spoke at West Point in (December) 2009 … our nation was just beginning a long climb out of the worst economic crisis since the Great Depression. What if I told you that nearly five years into the nation’s “long climb” out of the recession, the relative size of the...
  • The Economic Snapback Is Here

    06/03/2014 1:21:12 PM PDT · by blam · 30 replies
    BI ^ | 6-3-2014 | Joe Weisenthal
    Joe Weisenthal June 3, 2014 12:51PM 2014 was supposed to be the year that the economy finally broke out of its subpar, post-crisis pace of growth. But the first few months of the year were a big disappointment, and in fact Q1 GDP was decidedly negative. Of course, the economic bulls had an excuse for this: Weather. It was well known that there was an unusual amount of cold and snow at the start of the year, and that kind of weather keeps people home. So this spring became a moment of truth for the economy. If the data stayed...
  • Obama's Little Orphan Economy Refuses To Recover

    05/30/2014 4:15:17 AM PDT · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 05/29/2014 | IBD Staff
    Recovery: The economy "unexpectedly" contracted at an annual rate of 1% in the first three months of the year. But fear not! The prosperity that President Obama has promised for five years will be here tomorrow! Obama's top economic adviser, Jason Furman, dismissed the news that the 1% drop was twice as big as economists had predicted just a few weeks ago. This was, he said, almost entirely due to a downward revision in the "highly volatile inventories category" and some bad winter weather in some parts of the country. "More up-to-date data," Furman says, show that the economy "continues...
  • Exclusive: Like New Jersey, most states felt drop in April income taxes

    05/23/2014 7:07:18 AM PDT · by Oldeconomybuyer · 17 replies
    Reuters ^ | May 23, 2014 | BY LISA LAMBERT AND KAREN PIEROG
    ... Personal income tax collections plunged last month from a year earlier in 27 of 32 states for which Reuters was able to collect data. That's most of the 43 states that levy income taxes, and drops were as high as 50 percent. While many states predicted tough times this year, a handful including New Jersey and Pennsylvania is set to face hard decisions on either cutting spending or raising taxes. By the end of last year, 26 states had still not seen overall tax revenue return to pre-recession levels, according to recent data from Pew Charitable Trusts.
  • US Retail Sales up Scant 0.1 Pct. in April; Spending Online and on Furniture, Electronics Dips

    05/13/2014 5:48:18 AM PDT · by Oldeconomybuyer · 17 replies
    ABC News ^ | May 13, 2014
    U.S. retail sales growth slowed in April, with consumers shopping less online and cutting back on purchases of furniture and electronics. The Commerce Department says retail sales rose just 0.1 percent last month, after surging 1.5 percent in March following a harsh winter that had curtailed shopping. The modest sales suggest that consumers continue to be cautious during the still-slow, nearly 5-year recovery.
  • The “Economic Recovery” Continues: Businesses Are Being Destroyed Faster Than They Are Being Created

    05/10/2014 6:25:41 PM PDT · by SeekAndFind · 2 replies
    TEC ^ | 05/10/2014 | Michael Snyder
    What would you say about an economy where businesses are shutting down faster than they are opening? Well, a shocking new study released by the Brookings Institution indicates that this is exactly what is happening in the United States. We are absolutely killing small businesses and the entrepreneurial spirit in this country, and as you will see below, the number of self-employed Americans has been on a downward trend for a decade even though our population has been steadily growing. Traditionally, small businesses have been the primary engine of job growth in this nation, so the fact that study after...
  • What's Behind Friday's Jobs Numbers?

    05/03/2014 12:03:04 PM PDT · by Kaslin · 17 replies
    Townhall.com ^ | May 3, 2014 | Peter Morici
    The economy created 288,000 jobs in April, up from 203,000 in March. That’s the second best showing of the Obama recovery but still less than what is needed each month to raise employment to prerecession levels. Those results are consistent with an economy recovering from its winter slump but performing well below full potential—4 to 5 percent GDP growth and 400,000 to 500,000 jobs a month. Construction, manufacturing, retail and wholesale trade, business and professional services, finance, health care, leisure and hospitality, and government employment were all up. Information technology registered a small loss. Hourly earnings made no gain, indicating...
  • Most jobs created in this recovery are low-wage, study finds

    05/01/2014 11:47:51 AM PDT · by Oldeconomybuyer · 10 replies
    Market Watch ^ | May 1, 2014 | by Greg Robb
    A majority of the new jobs created in the four years of the recovery have been in low-wage sectors, according to a new report released this week. “Deep into the recovery, job growth is still heavily concentrated in lower-wage industries,” said the National Employment Law Project, a progressive research group which has been pushing for Congress to increase the minimum wage. Lower-wage industries accounted for 22% of job losses during the recession but 44% of employment growth over the past four years.
  • The One Word Democrats May Not Utter During the Campaign (Nope, it's not "Obamacare")

    04/20/2014 7:21:39 AM PDT · by SeekAndFind · 4 replies
    Pajamas Media ^ | 04/19/2014 | Rick Moran
    The One Word Democrats May Not Utter During the Campaign Posted By Rick Moran On April 19, 2014 @ 11:26 am In Politics | And it’s not “Obamacare.”As important as Obamacare is to the Republicans in the midterm elections, the economy still tops everyone’s list as the number one issue facing the country.Some Democratic political consultants are advising candidates to avoid using the term “recovery” when describing the economy — for obvious reasons. This Fox News poll from January shows that 74% of Americans still think we’re in a recession. Any Democrat uttering the word “recovery” is likely to...
  • Democrats Told "Don't Mention 'Economic Recovery' - It's A Political Loser"

    04/19/2014 5:04:48 AM PDT · by blam · 17 replies
    Zero hedge ^ | 4-18-2014 | Tyler Durden
    Democrats Told "Don't Mention 'Economic Recovery' - It's A Political Loser" Tyler Durden 04/18/2014 19:48 -0400Democratic strategists have made a blunt declaration in an election-year memo, according to AP, "Don't talk about the economic recovery. It's a political loser." Stan Greenberg, James Carville and others wrote that in head-to-head polling tests the mere mention of the word "recovery" is trumped by a Republican assertion that the Obama administration has had six years to get the economy moving and its policies haven't worked. But, but, but... stocks are at all-time highs? As AP reports, Election-year memo to Democratic candidates: Don't talk...
  • Obama's never-ending road to economic growth

    03/12/2014 6:46:03 AM PDT · by IBD editorial writer · 18 replies
    Investor's Business Daily ^ | 03/11/2014 | IBD Staff
    Obamanomics: For five years now, President Obama has been telling Americans that we "have a long way to go" before the country will see a return to prosperity. Just how long does he expect us to wait? Do a search of the White House website for "long way to go" and you come up with hundreds of hits, most of them involving President Obama or someone in his administration counseling patience on economic growth. Now, it might have made sense in mid-2009 to say that recovery from a deep recession will take time. After all, the recovery had just begun....
  • As Global Debt Soars, Where's The Big Recovery?

    03/11/2014 7:25:40 AM PDT · by SeekAndFind · 3 replies
    IBD ^ | 03/11/2014
    A new study says governments around the world boosted their debts by more than 40% to over $100 trillion in response to the global financial crisis. Where's the promised recovery from all that spending? From mid-2007 to last summer, the world added $30 trillion in government debt to its balance sheets, the Bank for International Settlements says. By comparison, that's twice the size of the $15 trillion U.S. economy. After the financial crisis, governments around the world, but especially in Europe, the U.S. and Japan, went deeper into debt so that they could spend more. They were following the old...
  • Medea Benjamin's miraculous 'recovery'

    03/09/2014 12:16:02 PM PDT · by Nachum · 5 replies
    Israel Matzav ^ | 3/9/14 | Carl in Jerusalem
    On Thursday, I posted part of Medea Benjamin's rant about her group's detention at Cairo Airport on its way to Gaza. I posted it together with the picture above rather than the picture below, because I focused on the group, rather than on the rock star. I should have known better. By the way, the caption of that picture says that she is being 'welcomed home by loved ones.' Do you see any? In describing her ordeal, Benjamin claimed: Little did I know I would be stopped at the Cairo airport, detained, held overnight in a cell, then in...
  • Labor Force Participation in 2013 Lowest in 35 Years

    03/04/2014 6:26:51 PM PST · by rktman · 1 replies
    CNSNews.com ^ | 3/4/2014 | Ali Meyer
    The average annual labor force participation rate hit a 35-year-low of 63.2 percent in the United States in 2013, according to data from the Bureau of Labor Statistics (BLS). The last time the average annual labor force participation rate was that low was in in 1978, when it was also 63.2 percent. Jimmy Carter was president then.
  • What Recovery? Sbarro Pizza Joint Closing 155 Stores Across North America

    02/22/2014 5:27:28 AM PST · by massmike · 37 replies
    libertynews.com ^ | 02/22/2014 | Eric Odom
    If you spend a lot of time watching government (taxpayer) subsidized media you’ll find they’re working overtime to convince us all the economy is recovering. What they refuse to show is stories like this: Sbarro, the Italian restaurant chain that’s a fixture in mall food courts, is closing 155 of its locations in North America in an attempt to improve the company’s profitability. The move is part of a broader plan to boost financial performance under a new management team, according to a statement yesterday. The closings affect underperforming company-owned stores and not franchise locations, Sbarro said. The chain, based...
  • Gallup Poll: Unemployment the Biggest Problem in US

    02/18/2014 8:38:14 AM PST · by rktman · 28 replies
    Newmax.com ^ | 2/18/2014 | Drew MacKenzie
    Unemployment has surpassed government and politicians as the most important problem facing Americans, according to a new poll. The Gallup survey shows that nearly one in four Americans — 23 percent — say that jobs are the biggest problem, followed by "dissatisfaction" with government, the economy, and healthcare. The concerns over unemployment have increased by a third from Gallup’s last poll in January, when 16 percent of Americans said jobs was their leading issue.
  • Let Go and Let God?

    02/15/2014 9:08:02 AM PST · by EscondidoSurfer · 33 replies
    Overcoming-Lust.com ^ | February 14, 2014 | Jim Vander Spek
    Many groups—including Christians—take the phrase “Let go and let God” to heart. The idea of getting out of the way and letting God take over is appealing and has a spiritual sound to it. Those who seek to overcome compulsive behavior are often exposed to this thinking. For example, imbedded in the 12 steps in the form that most recovery groups follow are the powerful assertions that one who is overcome by sin is “powerless” and needs to “turn their will and lives” over to God. This letting go allows God to “restore their sanity” and “remove their defects in...
  • The True Story of the Monuments Men

    02/09/2014 9:04:29 AM PST · by afraidfortherepublic · 40 replies
    Smithsonian ^ | 2-7-14 | Jim Morrison
    Captain Robert Posey and Pfc. Lincoln Kirstein were the first through the small gap in the rubble blocking the ancient salt mine at Altausee, high in the Austrian Alps in 1945 as World War II drew to a close in May 1945. They walked past one sidechamber in the cool damp air and entered a second one, the flames of their lamps guiding the way. There, resting on empty cardboard boxes a foot off the ground, were eight panels of The Adoration of the Lamb by Jan van Eyck, considered one of the masterpieces of 15th-century European art. In one...
  • Is Anyone Really Surprised That The System Is On The Brink Again?

    02/05/2014 5:32:42 AM PST · by blam · 27 replies
    Is Anyone Really Surprised That The System Is On The Brink Again? Phoenix Capital ResearchZero Hedge 02/04/2014 15:07 -0500 We find it truly extraordinary that anyone is surprised the financial system is under duress again. After all, what have the Central Banks accomplished in the last five years? 1) Did they clear out the bad debts that caused the 2008 collapse? NOPE 2) Did they implement structural reforms to insure another 2008 didn’t happen? NOPE 3) Did they punish fraud or corruption in any way to insure that the system was clean? NOPE So what did they do? They cut...
  • Engine from Makani Kai plane recovered

    12/18/2013 8:43:16 PM PST · by WhiskeyX · 33 replies
    The Maui News ^ | December 18, 2013 | The Maui News
    The complete engine from the Cessna Grand Caravan that crashed off Kalaupapa has been recovered by salvage crews, the owner of Makani Kai Air said Wednesday afternoon.
  • "I'm no hero, I'm just doing my job in a bad situation,"...Clyde Kawasaki....

    12/18/2013 7:01:10 PM PST · by WhiskeyX · 54 replies
    KITV Channel 4 News ^ | Dec 18, 2013 11:11 AM HST | KITV Channel 4 News
    HONOLULU —"I'm no hero, I'm just doing my job in a bad situation," said Makani Kai Air pilot Clyde Kawasaki at a news conference Wednesday morning. [....] The salvage operation for the Makani Kai plane that crashed off Kalaupapa last week will end at nightfall today, no matter what is retrieved or not retrieved. The boat should be back in port in Honolulu by Thursday morning.
  • Pilot in Crash Returns to Cockpit After Release

    12/18/2013 5:13:09 PM PST · by WhiskeyX · 58 replies
    Associated Press ^ | December 17, 2013 | JENNIFER SINCO KELLEHER
    One of the first things the pilot in a fatal crash off the Hawaiian island of Molokai did after being released from the hospital was climb into the cockpit of an airplane. [….] An autopsy was conducted Friday on Fuddy but results were not yet available.... [….] If the plane is recovered, Makani Kai staff will remove the engine under the supervision by NTSB officials, Schuman said. It will be placed in a box and sealed, with the NTSB likely taking it back to the factory of engine manufacturer Pratt & Whitney, where engineers will take it apart to find...
  • NTSB to try and salvage plane in crash off Hawaii

    12/17/2013 7:52:57 AM PST · by WhiskeyX · 7 replies
    Associated Press ^ | 12/16 2:38 pm | Associated Press
    HONOLULU (AP) — The National Transportation Safety Board said it will try to recover the plane that crashed off the Hawaiian island of Molokai after the aircraft was spotted in the water.
  • NTSB to try to salvage plane in crash off Molokai

    12/17/2013 2:26:48 AM PST · by WhiskeyX · 53 replies
    Associated Press, The Sacramento Bee ^ | Monday, Dec. 16, 2013 - 2:42 pm | JENNIFER SINCO KELLEHER
    HONOLULU -- Crews will try to salvage the plane that crashed off the Hawaiian island of Molokai.... Hawaii Health Director Loretta Fuddy was the sole fatality.... A 200-foot recovery vessel will leave Honolulu Harbor on Tuesday night and crews will attempt to pull the plane out of the water Thursday morning, Weiss said, adding that the effort will be paid for by an insurance company....
  • 37 Reasons Why “The Economic Recovery Of 2013" Is A Giant Lie

    12/10/2013 10:41:52 AM PST · by Obama_Is_Sabotaging_America · 13 replies
    The Economic Collapse ^ | December 08, 2013 | Michael Snyder
    "If you repeat a lie often enough, people will believe it." Sadly, that appears to be the approach that the Obama administration and the mainstream media are taking with the U.S. economy. They seem to believe that if they just keep telling the American people over and over that things are getting better, eventually the American people will believe that it is actually true. On Friday, it was announced that the unemployment rate had fallen to "7 percent", and the mainstream media responded with a mix of euphoria and jubilation. For example, one USA Today article declared that "with today's...
  • Americans Don't Buy Obama's Talk Of Economic 'Recovery'

    12/06/2013 5:44:46 AM PST · by raptor22 · 16 replies
    Washington Examiner ^ | December | Staff
    President Obama regularly touts what he calls the “economic recovery” supposedly prompted by his policies, including the creation of 7.5 million jobs, consistent growth for more than three years and revitalization of the domestic auto industry. He recently told ABC’s “This Week” host George Stephanopoulos, for example, that during the Great Recession of 2008, “we came in, stabilized the situation. The banking system works. It is giving loans to companies who can get credit. And so we have seen, I think undoubtedly, progress across the board.” It’s an upbeat talking point for the president, but the problem is most Americans...
  • 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...
  • The U.S. Labor Force Participation Rate Is At A 35 Year Low

    10/22/2013 6:44:43 PM PDT · by alexmark · 11 replies
    INVESTMENT WATCH BLOG ^ | Michael Snyder
    The percentage of Americans that are participating in the labor force is the lowest that it has been in 35 years. During the 70s, 80s and 90s, the labor force participation rate consistently rose as large numbers of women entered the workforce. It peaked at 67.3 percent in early 2000, and just before the last recession it was sitting at about 66 percent. Since the start of the last recession, the labor force participation rate has not stopped falling and it is now at a 35 year low. In September, 11,255,000Americans were considered to be “unemployed”, and an astounding90,609,000 Americans...
  • I Hate When That Happens...

    10/09/2013 5:58:16 AM PDT · by SatinDoll · 6 replies
    The Market-ticker ^ | October 9, 2013 | Karl Denninger
    You know how it is, you're going along with the lies that are told every day about "recovery" and "economic conditions are kinda "OK" and "we're doing all right" and then the mainstream media and "economists" like Goldman's Alec Phillips step on their ***** and tell the truth by accident. Economists at Goldman Sachs Group Inc., IHS Inc. (IHS) and BNP Paribas SA said they expect the Treasury to husband the tax money it collects to make sure it can meet interest and principal payments on the nation’s debt. Other obligations, from salaries of government workers to payments to defense...
  • Obama administration plans $320 million to aid Detroit recovery

    09/27/2013 11:04:25 PM PDT · by Olog-hai · 24 replies
    The Hill ^ | 09/27/13 08:45 AM ET | Justin Sink
    Top Obama administration officials will head to Detroit on Friday to announce nearly $320 million in federal and private aid as the city grapples with the largest municipal bankruptcy in American history. The aid includes money for housing rehabilitation and demolition, some $30 million targeted to fight crime and reduce the city’s notoriously long emergency response times, and millions more to rehabilitate the city’s transportation network. …
  • Obama: “We’re Still Trying to Recover;” NBER: Last Recession Ended 4 Yrs Ago

    09/21/2013 11:04:14 AM PDT · by Olog-hai · 21 replies
    Cybercast News Service ^ | September 21, 2013 - 1:37 PM | Terence P. Jeffrey
    President Barack Obama—now eight months into his second term—said today that the U.S. economy is “still trying to recover” from events that took place five years ago before he took office. At the same time, the National Bureau of Economic Research (NBER), which dates the beginning and ending of recessions in the U.S. economy, insists that the last recession ended more than four years ago. … According to the NBER, the last recession began in December 2007 and ended in June 2009. Since June 2009, which was the fifth full month of Obama’s presidency, the economy has been in a...
  • US Recovery: Audio Interview with UCLA Economist Lee Ohanian

    09/07/2013 10:48:12 PM PDT · by GoodDay · 2 replies
    EconTalk (Library of Economics and Liberty) ^ | September 8, 2013 | GoodDay
    Audio Podcast: EconTalk Interview with UCLA professor of economics, Lee Ohanian from August 2012 "Lee Ohanian of UCLA talks with EconTalk host Russ Roberts about the recession, the recovery, and the state of labor market. Ohanian describes the unusual aspects of this recession and recovery in the United States as shown by the labor market and the unusual performance of hours worked, productivity, and wages. He also discusses the behavior of business investment and speculates as to why this recession and the recovery has been so different in the United States. The conversation closes with a discussion of the role...
  • August Jobs Report: 169,000 Jobs Added

    09/06/2013 6:35:37 AM PDT · by Oldeconomybuyer · 30 replies
    ABC News ^ | September 6, 2013 | By SUSANNA KIM
    <p>The unemployment rate decreased for "inorganic reasons" as the labor force participation rate fell to 63.2 percent in August, the lowest since 1978.</p> <p>The participation rate has fallen by 1.6 percentage points since the beginning of 2010.</p> <p>"Some of this is due to the aging of the workforce but it reflects a weak labor market," said Stephen Bronars, senior economist at Welch Consulting. "The unemployment rate is declining for all the wrong reasons - people are dropping out of the workforce."</p>
  • Detroit Teachers Moonlight As ‘Sugar Babies’ (i.e., Paid Escorts) To Offset Wage Cuts

    08/28/2013 7:55:18 PM PDT · by DogByte6RER · 44 replies
    CBS Detroit ^ | August 28, 2013 | CBS Detroit
    Detroit Teachers Moonlight As ‘Sugar Babies’ To Offset Wage Cuts DETROIT (WWJ) - It’s back-to-school season and many Detroit teachers are struggling in the wake of budget cuts and overcrowded classrooms. According to the National School Supply and Equipment Association, the average teacher spent at least $485 on school supplies for their classroom last year. So, what are some Detroit women doing to offset their struggles in the classroom? Well, they’re becoming “sugar babies” of course — seeking financial assistance from wealthy men online. In the Detroit School District alone, 201 teachers are moonlighting as sugar babies to offset wage...