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Economy - Economics USA

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thefirstpost.co.uk

It's the worst of times. America is plunging back into Depression. Only one out of every two Americans of working age has a job. Forty years ago that would have been okay. Dad went to the factory. Mom stayed at home to mind the kids.

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Michael Powell via The New York Times

PROVIDENCE, R.I. — It was a finely honed machine, this United States Census team, and it had a good run. But in the coming days and weeks, many of its members will experience the pain of unemployment — once again.

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Nytimes.com/

“There is a cliff we are racing toward — it’s huge,” said Richard Barwell, an economist at Royal Bank of Scotland and formerly a senior economist at the Bank of England, Britain’s central bank. “No one seems to be talking about it that much.”

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AP

The heads of President Obama's national debt commission painted a gloomy picture as the United States struggles to get its spending under control. Curtailing popular tax breaks, such as the home mortgage deduction, and instituting a financial trigger

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Christine Ahn, FPIF

Mike Prokosch is among the organizers of the 25% Solution campaign in Massachusetts, which aims to cut a quarter, or about $250 billion, from the Pentagon and other military agencies and institutions. The campaign wants to redirect this money to soci

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GlobalEconomicAnalysis.blogspot.com

I have a vending business here in Florida. I service manufacturing and many general businesses. All are laying off workers. I have machines that were taking in 100.00 plus dollars a week that are now doing only 5.00 per week.

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finance.yahoo.com/tech-ticker/

"The optimism out there is rather insane," he says. There’s only a 15-20% chance of the market rallying, Mish tells guest host and Business Insider deputy editor Joseph Weisenthal. "It's more likely we go down there and test the March lows...

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Dollarcollapse.com/

The US has a stay of execution while the European crisis unfolds, but at some point the nasty fiscal arithmetic will get everyone, including the U.S… Treasuries are a safe haven the way Pearl Harbor was a safe haven in 1941. It’s safe until it’s not

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NakedCapitalism.com/

“I’ve never seen the wealthy hit like this before,” Mr. [Ken] Lowman [a real estate agent in Las Vegas] said. “They made their plans based on the best of all possible scenarios — that their incomes would continue to grow, that real estate would never

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Yahoo News

The balance between spending to stimulate the economy and putting budgets in order has vexed countries around the world as the recovery has looked more and more precarious.

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Dan Amoss/Whiskey and Gunpowder

Austrian theory acknowledges both the “seen” and the “unseen” effects of government policy, while Keynesian theory ignores the unseen in the pursuit of managing this thing we call “GDP” at all costs.

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