Contents Pages by Subject

Economy - Economics USA

Subject Photo
Article Image News Link • Global

CNBC

Employment compensation for U.S. workers has grown over the past 12 months by the lowest amount on record, reflecting the severe recession that has gripped the country. The Labor Department said Friday that employment costs rose by 1.8 percent for the 12 months ending in June, the smallest annual gain on records that go back to 1982.

Article Image News Link • Global

The Market Ticker

The pumpers in the media will burn in Hell for dragging you (the sheeple) back into this market. Here's the truth on GDP, in picture I updated the previous Ticker but this is important enough to put up as a separate post. I will maintain this quarterly as new releases come out; this is a new "staple" for The Market Ticker, where unlike the sell-side that is always trying to get you to buy I am concerned with the truth about our economy and deal in the facts, not hype. This is off Table 3B in the BEA's release and is actual year-over-year change in constant (chained) dollars. Feel free to check my work - in fact, you should check my work, just like you should check everyone else's you hear, especially if you hear a politician or media pundit opine about how "things are getting better." Baloney. Not only is the GDP still falling it is still falling at an increasing year-over-year rate.

Article Image News Link • Global

Reuters

Goldman Sachs raised its rating on the shares to "buy" on the news. Bloomberg News reported that U.S. Rep. Barney Frank said in an interview that GE's ownership of GE Capital was "not part of the problem" that caused the financial crisis. Many investors had feared that the Obama administration's planned overhaul of the system could compel Fairfield, Connecticut-based GE to spin off the finance unit. That business over the past year has become the company's Achilles heel, and GE management was working to downsize it in the face of falling profits

Article Image Feature Article • Global

“Big Government distracts us the most important job of the government – protecting us” Michael D. Tanner “Liberty in the United State will never be reestablished so long as elites and masses alike look to the president to perform supernatural feats and therefore tolerate a virtual unlimited exercise of presidential power.  Until we can restore limited, constitutional government in this country, God save us from great presidents.” Robert Higgs “The mounting burden of taxation not only undermines individual incentives to increased work and earnings, but in a score of ways discourages capital accumulation and distorts, unbalances, and shrinks production.”  Henry Hazlitt“The more power government has to provide things, the more power it has to dictate terms.” Sheldon Richman   “In a market, goods and services are exchanged through a myriad complex of voluntary transactions, each made to the mutual benefit of those engaging in the transaction.  The costs

Article Image News Link • Global

Daily Reckoning

The jobless rate hit a 26-year high of 9.5% last month – and many economists are betting for the jobless rate to hit 10%. “Of the June total,” reports the Labor Department, “1,235 mass layoffs were reported in the manufacturing sector.” “All the indicators in the real economy,” said Bill Bonner in his final speech at the Agora Financial Investment Symposium in Vancouver, “are actually getting worse.”

Article Image News Link • Global

Reuters

s history repeating itself at Goldman Sachs? In late 2006, Goldman shrewdly began backing away from the residential mortgage market. With little fanfare, the firm began aggressively hedging its exposure to home loans, in particular mortgages to borrowers with shaky credit histories. This savvy and somewhat stealthy strategy enabled Goldman to pawn off lots of its soon-to-be toxic mortgages and mortgage-backed securities on other institutions — forcing those foolhardy speculators to pay the price when the subprime market blew up. And much to everyone else’s chagrin, Goldman even made money off the housing meltdown when some of its hedges — specifically a bet that a subprime mortgage index would plunge — paid off handsomely.

Article Image News Link • Global

The Market Ticker

Reprinted from here; no comment necessary. This deserves wide distribution, and as such, guess what - I'm going to help in that endeavor. Janet is one of the true bright lights when it comes to matters finance, which of course makes her persona-non-grata at the table of ideas when it comes to actually addressing what has gone wrong, and how to prevent it from happening again - just as is the case for the "evil bloggers" such as myself and Zerohedge. The reason is quite simple: When you stop lying and intentionally obfuscating the facts you come to an inescapable conclusion: This event in our financial system was no accident, and those who are being touted as firemen who "put it out" in fact were the arsonists who set the fire in the first place. Wake up America....

Article Image News Link • Global

MATTHEW JAFFE and DEVIN DWYER

"The total potential federal government support could reach up to $23.7 trillion," says Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, in a report released today on the government's efforts to fix the financial system.  Yes, $23.7 trillion.

"The potential financial commitment the American taxpayers could be responsible for is of a size and scope that isn't even imaginable," said Rep. Darrell Issa, R-Calif., ranking member on the House Oversight and Government Reform Committee.

"If you spent a million dollars a day going back to the birth of Christ, that wouldn't even come close to just $1 trillion -- $23.7 trillion is a staggering figure." To be sure, we aren't there yet.

The government has about 50 different programs to fight the current recession, including programs to bail out ailing banks and automakers, boost lending and beat back the housing crisis.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:

GoldMoney