American economy

Forget the bank stress test , leaked in carefully monitored drips, so that investors and the public will actually think the financial system is in good shape because "only" ten of the major banks need to raise additional capital (to the tune of $75 billion) inorder to theoretically survive in an economy with an unemployment rate which we may hit by the end of the month. The real story is in Treasuries . The market has now pushed the yield rate on ten year notes to 3.34 and they are easily headed for 3.5 —some analysts are even saying 5.00 is not an unrealistic ... Read Full Story

Economists Say Stimulus Has No Bang

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beckychr007 on

Why is it that conventional wisdom is so often wrong? Perhaps part of it is because we are intellectually lazy , and it is just easier to defer to the voices of the loudest—especially if they are saying something we want to be true. But, I just wish I had a dollar in my thong for every time I've heard a pundit, anchor, commentator, politician, expert panelist or the President of the United States say that all economists , regardless of their political or ideological persuasion, agrees that the federal government must undertake a massive stimulus package inorder to kick start the economy out ... Read Full Story

Putin Goes Libertarian as Democrats Ape Hoover

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beckychr007 on

As we peer out through the swirling dust of the shitstorms , it is clear we have entered a strange world where left is right, and right is left, up is down and most people don't know their ass from a hole in the ground. The Democrats are the New Hoovers , and Vladimir Putin is a libertarian free markete r. Although, during the primaries, the Democratic presidential candidates yacked it up in Ohio and Indiana , I assumed all their talk of economic protectionism , and scraping NAFTA , was just a pander. But the Democrats have attached a “Buy American” provision onto ... Read Full Story

Bankrupting the Banks & Libertarian Welfare

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beckychr007 on

After the Chief Justice flubbed the only thing he had to do today—administer the oath of office to the president , which is one of the better known parts of the constitution — Barack Obama gave his inaugural speech . For one of the great orators of his generation it was not his best, but one would not have thought it was so bad that the stock market would tumble as he spoke. But it did --and ended up tanking by more than 300 points. The economy is so sick, that it is no longer even responding to the oratory of Barack Obama . ... Read Full Story

Rolling Out the Stimulus Package Pork

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beckychr007 on

This ain't your grandfather's Depression . Lake Havasu , Arizona , known mostly for drinking, boating, Spring Break, and girls gone wild, is also the home of London Bridge . Although there are often London Bridges falling down in Lake Havasu , the out-of-place structure is not one of them. However it has developed a few sunspots since being reconstructed in the desert. The mayor is requesting that the federal government send them $250.000 as part of the stimulus package , which will be used to resurface this monument to the extent to which developers will go to suck in tourists. Dayton , Ohio ... Read Full Story

Bernanke Says Limiting Fed Independence Would âImpairâ Economy ...

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Bloomberg - Nov. 28 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke said removing the central bank from bank supervision and tampering with its political independence would âseriously impairâ economic stability in the U.S.

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Dubai debt scare rattles world markets

AFP - US stock markets tumbled on Friday as fears of debt defaults bred fresh concern for the world economy, while Europe shares recovered slightly from Dubai's shock request to suspend major loan repayments.

From rss.news.yahoo.com ()

RI House holds forum on dire state economy

AP - Nearly three years after jobs started vanishing in Rhode Island at an alarming pace, House lawmakers will gather Tuesday for their first forum on one of the worst recessions since the Great Depression.

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Deflation, surging yen threaten Japan's recovery

AP - Japan got word Friday that prices fell again in October, just as a surging yen threatens to worsen the deflation that is undermining the country's fragile economy.

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US takes over Pacific territory's immigration

AFP - The US will Saturday take over control of immigration in the Northern Mariana Islands despite protests about the impact on the Pacific territory's economy.

From rss.news.yahoo.com ()