The measure passed 8-3 exempts the micro-blogging service from paying payroll tax on new hires if it moves to the city’s neglected Mid-Market area.
The road to an 8.8% unemployment is paved with unintended consequences! Yes, a drop of .01% in the unemployment rate reported yesterday cannot be termed a bad thing. Anytime unemployed and struggling U.S. workers find a job it is only good. The
This quarter's earnings were hit by a $1.1 billion accounting charge tied to the tightening of Citi's own bond spreads. This is the flip side of an asinine accounting rule that banks used to juice earnings during the credit meltdown two years ago.
The U.S. does not have to rely on foreign investors even to buy its bonds. If the investors are not interested, the central bank can buy the bonds. That is, in fact, what the Fed’s second round of quantitative easing is all about: issuing $600 bill
Can a person become President, and not understand simple economics? Why yes, yes we can... More dollars in circulation = deflated currency, Barry.
If Arizona local governments are serious about pulling communities out of the Great Recession, they need to reassess policies and do away with those that impede business, job creation and freedom.
Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation's roads, railways and runways that would cost at least $50 billion.
Vowing to find new ways to stimulate the sputtering economy, President Barack Obama will call for long-term investments in the nation’s roads, railways and runways that would cost at least $50 billion. The infrastructure investments are one part o
Mr. President - the question begs to be asked. After 17 months and 8 vacations, you're just now figuring we need to go into "full scale attack" mode? What is wrong with this picture?
With the economy apparently souring further without having recovered from the current recession a look at two articles written in January of 2009 on the subject seems timely. This article and Recovery Depends on Investment and Capital Accumulation we
The true story of the neverending wallet, the taxpayers and the summer of recovery. What does the administration have in mind and how will it affect business?
12/23/2009 | Ed Morrissey California got $7 billion in state grants from Porkulus, and an opportunity to catch their breath while they attacked a monstrous state budget that desperately needs pruning. Congress has now begun to consider Porkulus II,
What’s Happening 12/1/09 *Total Economic Collapse – The Swindle* Pt 2 “Fascism should rightly be called Corporatism as it is a merge of state and corporate power.”~ Benito Mussolini. Well, I feel so much better. Just a short viewing of the c
While all the talk at present is about economic corners turned and markets charging ahead, no one is paying much notice to an American economy deteriorating before our eyes. These myopic commentators seem to be simply moving past the now almost-unive
Spin Spin Spin. The state-run media will do anything to spin the news for the Obama administration. And it is not just the “big boys” at the national level,. Now even the local Jimmy Olsens think they can get away with it. Here, brown-nosed reporte
This entire economic mess is about the loss of great paying jobs, forty hours a week and the benifits that went with them. Thirty years ago, The Actor as President started to sell American jobs across the seas. The out come, which tRead Letter
John Hussman - PhD economist and former professor of economics and international finance at the University of Michigan - has a great quote: If you look carefully at the economic data that shows improvement, and correct for the impact of government outlays, it is difficult to find anything but continued deterioration in private demand and investment. What we do see is a government that has run what is now a trillion dollar deficit year-to-date, representing some 7% of GDP. That sort of tab will undoubtedly buy some amount of Cool-Aid, but it has been something of a disappointment to watch how eagerly investors have guzzled it down. It is not at all clear that short-term, deficit-financed improvement necessarily implies sustained growth in the context of a deleveraging cycle. This is like somebody borrowing money from their Uncle and then celebrating that their income has gone up.
Why is it that we have to pay for their screw ups? Warren Buffett's Berkshire Hathaway Inc underestimated the risks of falling stock prices to its billions of dollars of derivatives bets, yet still believes it is valuing the contracts fairly. Berkshire revealed its error in a June 26 letter to the U.S. Securities and Exchange Commission, one of several pieces of correspondence with the regulator about the company's annual report, and made public on Thursday. The key issue:
Apparently to prove he is the ultimate Keynesian, economist Joseph Stiglitz says he wants more economic stimulus: Going on to prove he is hardcore, Stiglitz then turns anti-tax cut and anti-savings: How does Stiglitz want to pay for his recommended stimulus package? I guess by increasing deficits. He has no concern at all for the increasing U.S. debt load: Bottom line: The Stiglitz formula seems to be more injections at any cost. The last guy to try this formula was Michael Jackson
Without Uncle Sam, the economy looks way worse.. Today's better-than-expected -1% GDP was tempered, somewhat, by the staggering 11% spike in Federal Government spending (hello stimulus!). Today's chart looks back at the Y/Y GDP change with the same number sans government spending. As you can see from the divergence, the government boost provides a big help.
The first 12 months of the U.S. recession saw the economy shrink more than twice as much as previously estimated, reflecting even bigger declines in consumer spending and housing, revised figures showed. The world’s largest economy contracted 1.9 percent from the fourth quarter of 2007 to the last three months of 2008, compared with the 0.8 percent drop previously on the books, the Commerce Department said today in Washington
Defending the government's handling of the economic crisis last year, former Treasury secretary Henry Paulson said Wednesday that the Bush administration's responses were not perfect but "saved this nation from great peril." Okaaaaaaay....
The Obama administration is firing back at Sen. Jon Kyl for calling for an end to economic stimulus spending, and it's aiming where it hurts the most — at home in Arizona. The White House on Tuesday released letters from four cabinet secretaries to Arizona Gov. Jan Brewer, a Republican, citing Kyl's comments and outlining transportation, housing, Indian education and other projects in his home state they said would be eliminated if the senator has his way.
The congressional panel investigating what happened to all that bank bailout money has issued a subpoena to the Federal Reserve, asking them to hand over all documents relating to the takeover of Merrill Lynch by the Bank of America....
There are signs that the economy might be recovering. This optimism may turn out to be unfounded. Or it may turn out to be justified. But the reason I mention that only $36 billion of the stimulus has been spent in the first 3+ months since the stimulus bill passed is to remind people that we were told that we needed to spend $787 billion urgently without discussion or thought to save the economy and that the reason it would work was because It—and "it" is the spending of this enormous sum of money—would create jobs. It would create jobs by stimulating aggregate demand in the face of a slump in consumer spending. If indeed the economy does recover—the so-called V shaped recovery, then it cannot be via this increase in aggregate demand caused by government spending.
Wealth. Americans, middle Americans have had it...controled so they were and are unable to expand it by the same banks and housing inflated market that has now failed. You, as a middle American have a job, own a home or at least yRead Letter
Prices cannot be lowered to move inventory without the banks hugely expanding their losses. Right now they are working off what inventory the banks can finance and sell.
John Hussman is always a good read. In Buckle Up This week, Hussman is railing about the policies in Washington. Let's tune in. ...
Frank Monstrosities http://globaleconomicanalysis.blogspot.com/2009/03/frank-monstrosities.html Barney Frank is in the news. As is typically the case with "Frank News", Barney is throwing stones in the wrong direction. Please consider Fra
--Most Express Doubts About Success