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Economy - Economics USA

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AFP

The US economy weakened dramatically in the first quarter to its worst growth pace in four years, expanding at a clip of just 1.3 percent, new government figures showed.

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USA Today

An unwritten rule distributed 60% of the money to the party in charge and 40% to the minority party, former House Appropriations Committee staffer Jim Dyer says. [Wonder where I get my claim on the Washington Party deal?]

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FT.com via msnbc.com

(Unintended govt consequences. You can't fool Mother Nature or the Free Market) "In a bid to solve one problem, we risk creating another, and making things worse. Rainforest destruction is a major contributory factor in global warming and

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Christian Science Monitor

The home-loan industry, facing the worst housing downturn since the early 1990s, is ramping up efforts to help strapped borrowers stay in their homes. The goal is to restrain a gathering wave of foreclosures that carries big costs for both lenders

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Financial Times

The statement by Fred Anderson, who agreed to pay $3.5m to settle backdating charges with the Securities and Exchange Commission, raises fresh questions about the role played by Mr Steve Jobs in improper backdating at Apple.

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Reuters

U.S. congressional negotiators have agreed on a package of small business tax cuts worth about $7 billion over five years as part of an effort to boost the hourly minimum wage by $2.10 over two years. [Layoffs ahead, no jobs for 18 y olds.]

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Reuters

Momentum is growing for a movement that encourages Americans to withdraw investments in companies doing business with the Islamic republic, as well as other states perceived by Washington as security problems -- Sudan, North Korea and Syria.

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AP

The European Union's monetary chief said Friday that the United States' low savings rate and large budget deficit pose a risk to the global economy. [Oh so it is our fault that savings is unattractive due to lack of interest.]

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AP

Spring looks bleak for the nation's retailers. After robust sales in March, there are signs that consumers are already spending less. And a trifecta of problems rising gas prices, a rougher housing market and the specter of higher interest rates

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London Times

The price of meat is set to rise in America as the nation’s helter-skelter dash to convert corn into road fuel begins to take its toll on the supply of food. The US Department of Agriculture has said that meat supply will fall this year because of

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By Mike Whitney The American people are in La-la land. If they had any idea of what the Federal Reserve was up to they’d be out on the streets waving fists and pitchforks. Instead, we go our business like nothing is wrong. Buy GOLD and SILVER

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Reuters

Philadelphia Federal Reserve Bank President Charles Plosser said the US economy is not as strong as the Fed had expected and prices remained higher. Personal consumption and employment were strong but business investment was weaker, Plosser said in

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AP

The average cost of self-serve regular gasoline rose about 18 cents per gallon nationwide over the past two weeks, according to a survey released Sunday. That translated to an average price of $2.78 a gallon, according to the latest Lundberg Surve

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Chrisitan Science Monitor

As many as 130,000 homeowners – the most in 30 years – are going into foreclosure each month. Experts worry that entire neighborhoods will decline – similar to what happened in the 1960s and '70s – as abandoned foreclosed homes cause property val

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