tagged w/ US Economy
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This argument feels a little slanted, but the no one can argue with the amassing debt the US accrues to keep things going.
What are your thoughts?This argument feels a little slanted, but the no one can argue with the amassing debt... more
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Sinister outcasts from Princeton's economist Krugman - He expects the US housing market to drop 25% overall.
"I'm not one of those people who thinks the Great Depression is coming back, but there's lots of echoes. [...] I think we know more than we did then, and just the fact that we have a big federal government is a stabilizing factor. But the current problem is still pretty awesome."
At the same time, he admits that "what we're having looks like a minor-key version of the bank failures in the early 1930s. Now it's mostly not banks, it's markets that were serving the function of banks and institutions that were doing banklike stuff, and it's not as bad - at least so far. But it's a question. If we were actually having a string of bank failures, then we would know what to do. The government would essentially seize the banks and guarantee the deposits. But what do you do when you have a wave of failures of things like the auction-rate securities market, which was effectively a funny way of doing banking? If you look historically at other financial crises, they typically end up with big government bailouts. But how's that going to work in this case? We don't even know who to bail out. And part of the problem is we don't even know who owes what to whom."
I am wondering if today they really know more about troubles in the financial markets than in the 30's. The situation seems to be very different today - notwithstanding the perplexity about the economy's inner workings, which then as now seems do dominate. Not comforting, I would say...
What do you think?Sinister outcasts from Princeton's economist Krugman - He expects the US housing... more
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Xizor
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added this
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4 years ago
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Tent cities crop up in LA as the sub prime mortgage fallout continues during the US economic downturn. Tent cities crop up in LA as the sub prime mortgage fallout continues during the US... more
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Don't be alarmed. More than 130 million households will get letters from the Internal Revenue Service beginning next week and it's good news, not bad.
The letters are part of an extensive outreach effort to make sure people don't miss out if they are eligible to receive a tax rebate check under the recently passed $168 billion economic stimulus plan.
The IRS letters will remind people to file a 2007 tax return so they will receive the stimulus payment.
Treasury Secretary Henry Paulson said Treasury and the IRS would work hard to get the word out. "For the majority of Americans, all they will need to do is file a tax return," Paulson said in a statement.Don't be alarmed. More than 130 million households will get letters from the... more
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jenn5
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added this
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4 years ago
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she a young man trying to get on with his life after a hurricane destory the city he lived in. she a young man trying to get on with his life after a hurricane destory the city he... more
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This is the footage, that day i got back from New Orleans in Nov. 1 2005.
I Jeffrey Cappell, was very thankful for not losing my house, but most of this is footage, is only two blocks away from my house. Its a sad thing, but the sadder part is that some of these things house still look like this and now its 2008.
This is a short film by Jeffrey Cappell about the horrible true effects of Hurricane Katrina
This is the footage, that day i got back from New Orleans in Nov. 1 2005.
I Jeffrey... more
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I like when they give us our money back. Makes you wonder why they need it in the first place, when they can give it back so quickly and readily.I like when they give us our money back. Makes you wonder why they need it in the... more
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TD
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added this
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4 years ago
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House Speaker Nancy Pelosi agreed to drop increases in food stamp and unemployment benefits during the Wednesday meeting in exchange for gaining rebates of at least $300 for almost everyone earning a paycheck, including low-income earners who make too little to pay income taxes.
Families with children would receive an additional $300 per child, subject to an overall cap of perhaps $1,200, according to a senior House aide who outlined the deal on condition of anonymity in advance of formal adoption of the whole package. Rebates would go to people earning below a certain income cap, likely individuals earning $75,000 or less and couples with incomes of $150,000 or less.House Speaker Nancy Pelosi agreed to drop increases in food stamp and unemployment... more
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jenn5
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added this
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4 years ago
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The last 7 years have been a big turning point in the economy, we've got from a state of buget accountability to free spending.The last 7 years have been a big turning point in the economy, we've got from a... more
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The US wars in Iraq and Afghanistan are costing nearly double the amount previously thought, according to a report set to be released by Congress.The US wars in Iraq and Afghanistan are costing nearly double the amount previously... more
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Federal Reserve chief Ben Bernanke has warned that the US economy will slow noticeably before the end of the year.
He blamed the slowdown on the credit crisis, which has made it harder for banks and individuals to borrow money. He said that there was likely to be more "financial restraint on economic growth as credit becomes more expensive and difficult to obtain". Federal Reserve chief Ben Bernanke has warned that the US economy will slow noticeably... more
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The pound is riding high - you get more US dollars now than at any time since 1981. If you're dealing in millions you get nearly $2.11 for £1 - even ordinary mortals can get $2.02 at Travelex, making the dollar worth 49p.
Currency experts blame a collapse in confidence in the US economy, caused by its addiction to Chinese imports paid for with sub-prime loans that borrowers can't or won't repay. The situation is now so bad that Brazilian supermodel Gisele Bundchen reportedly insists on being paid in euros, not dollars.
The pound is riding high - you get more US dollars now than at any time since 1981. If... more
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With oil being above $96/barrel I wonder why this issue is not the top issue in the US
Did any of the candidates talk about this?
With oil being above $96/barrel I wonder why this issue is not the top issue in the US... more
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Credits: Produced, shot and edited by Ben Hernstrom. Co-produced by Justin Crimone. Thanks to Jennifer Gomez, Lindsay Patross, John Valentine, and the offices of Dan Onorato and Bill Peduto. Credits: Produced, shot and edited by Ben Hernstrom. Co-produced by Justin Crimone.... more
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Internet firm's market value puts it among America's top five companies - and it plans to get bigger still. Google, the world's most popular internet search engine, has joined the corporate super-league with a market value that ranks among America's top five companies. Ten years after its creation in a Stanford University dormitory, the Silicon Valley firm's capitalisation reached $219bn (£105bn) on Tuesday - overtaking healthcare titan Procter & Gamble to place it in fifth place on the US stockmarket.Internet firm's market value puts it among America's top five companies -... more
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The move is due to a housing slump and record energy prices. This will keep the economy on track, making it easier to borrow and spend money and get a mortgage. The move is due to a housing slump and record energy prices. This will keep the... more
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The pound has risen further against the dollar, trading at its highest level against the US currency for 26 years. The pound was seen trading at $2.0727 in early trade in London, following data showing that UK house prices rose sharply in October.
The pound has risen further against the dollar, trading at its highest level against... more
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"Since the Neo-Conservative movement has become the dominant force in the Republican Party the national debt has grown and continues to grow at an unsustainable rate, by any measure you care to use.""Since the Neo-Conservative movement has become the dominant force in the... more
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Costs are up for public, private, two and four year schools, you name it, it's up.
I'm newly married, and I've always wanted to have 3 kids...but my husband and I have actually discussed whether it's a fair or responsible thing to bring kids into this world, given the cost of education, the state this planet is likely to be in etc. Maybe we're being overly-dramatic, and perhaps the concerns of children that our parents faced were as real, but somehow, I think child-rearing is a more daunting task today than in the past.Costs are up for public, private, two and four year schools, you name it, it's... more
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Tori
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added this
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4 years ago
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The dollar is getting crushed. What are the effects on the street? Are Canadians crossing the border to buy fat gold chains? The dollar is getting crushed. What are the effects on the street? Are Canadians... more
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bgross
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added this
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4 years ago
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