Economics News & Economics Videos: Economy News // Current

added
41 minutes ago

'Capitalism: A Love Story': Michael Moore's New Movie

Michael Moore's latest documentary now has a title _ and a theme that resonates with recession-weary audiences.... more

jessilee23
added this

Headed towards another Great Depression? Maybe worse.

To sum up, globally we are tracking or doing even worse than the Great Depression, whether the metric is industrial production,... more

bbar
added this

Obama Breaks Promises: MIddle Class Taxes Rising as well as Signing Statement Usage

Infowars | Obama reveals his contempt for the American people by issuing signing statements, even though he said during the... more

bbar
added this

Obama, you, me, taxes and reality.

From MY investment gurus... Carbon tax, value-added tax, foreign tax credit loopholes—the government is full of ideas... more

plusaf
added this

How Democrats could get everything they want through conservatism

Certain things are not debatable and are just fact. If Democrats accepted some of these they could fund social programs till... more

jtalos
added this

Obama and Bush Caused the Mortgage Crisis..... No, wait...

http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1 This video clearly shows that George Bush warned Congress starting in... more

plusaf
added this

Smart Power Outlets in your future?

While you're waiting for your LED lighting and electric cars, budget some money to install these in your homes, too. What... more

plusaf
added this

Where are all the jobs we exported to China and India???

I don't analyze the Manufacturing Industry... but a friend of mine does, John Layden. [ http://www.prevelconsult.com/ ]

I met him back around 1984. It turns out, HE's the guy who taught Motorola what "six sigma" means. No, Motorola didn't invent it.

So, when I ran the July, 2009 issue of the FRC Money Forecast Letter from http://www.vanecktillman.com/index.php by him, he had a few comments....

========================

"Alan,

About 80% of this is pure bunk. He’s completely missing the boat on manufacturing. He offers statements from the media narrative (6 million US jobs being shipped to China) without any evidence. The only study I’ve seen showed about 300,000 over a 7 year period. During the period of time in question China lost 15% of its manufacturing jobs. If we shipped the jobs to China someone should put a tracer on them, cause they didn’t arrive. Every one of the top 20 industrial nations has lost jobs over the last 10 years. A total of 31 million factory jobs were lost while increasing output 30%. It’s called productivity.

Two things are happening. Manufacturers are setting up shop to produce close to the market. The idea that anyone will ship cars across an ocean for long is crazy. If American based auto companies won’t do it, the Chinese, Koreans etc will. Second there are many jobs moving from manufacturing to the service sector. Manufacturers outsource everything from landscaping to corporate jet service. So some of the “lost” manufacturing jobs are now in the service sector. When EDS bought the IT operations of GM in the 80s it moved tens of thousands of jobs from manufacturing to services overnight. But nothing happened except the bank account where the payroll checks were drawn.

He’s roughly right on the savings rate. But there is a better overall measure – velocity of money. Velocity went down (in part due to savings which works like parked money) so the money supply had to go up to stay in equilibrium."

========================

Enjoy! Now go back to thinking what you thought was "The Truth" about all that....

LOL!I don't analyze the Manufacturing Industry... but a friend of mine does, John Layden. [ http://www.prevelconsult.com/ ] I... more

plusaf
added this

0 responses

added
17 days ago

If you don't like capitalism, you'll love this...

here's an alternative, ready to step in and take over if capitalism-bashers succeed. good luck to everyone, especially if... more

plusaf
added this

4 responses

added
17 days ago

Did Krugman Want a Housing Bubble?

...Mark Thornton on the Mises blog followed up with a devastating collection of 2001 Krugman quotes clearly documenting his... more

bbar
added this

3 responses

added
19 days ago

Obama Wants to Give the Fed More Power

The Obama administration wants to give the Federal Reserve even more power and disguise it under regulatory reform. The Fed, which... more

bbar
added this

1 response

added
19 days ago

POLL: Will Government Health Care Drive Up Cost?

Since 1960: Government has spent $13.3 trillion (including $9.3 trillion in Federal funds) on health care. To say that $13.3... more

critic
added this

20 responses

added
20 days ago

How much is music really worth?

What a nasty jury that must have been... Boy, did THEY send a message.... A federal jury ruled Thursday that Jammie... more

plusaf
added this

0 responses

added
22 days ago

The Need to Excommunicate Bill Maher

Limousine left-wing socialist and Obama shill Bill Maher, who is also the host of the highly-rated show Real Time with Bill Maher... more

critic
added this

87 responses

added
22 days ago

Health Care Socio-Fascism

Americans who support President Obama’s “health care reform” plan involving the creation of a new public... more

critic
added this

80 responses

added
23 days ago

Did the Japanese try to dump $135 billion in US bonds on the black market?

There were no headlines on CNBC, MSNBC, CNN, the BBC, FOX business news, or any other western media network, whereas the article... more

atomiclegion
added this

3 responses

added
24 days ago

Charles Krauthammer Speech/Comments on the ‘New Economy’ and Barack Obama

To my friends and associates:
Last Monday was a profound evening, hearing Dr. Charles Krauthammer speak to the Center for the American Experiment. He is a brilliant intellectual, seasoned & articulate. He is forthright & careful in his analysis, & never resorts to emotions or personal insults. He is NOT a fearmonger nor an extremist in his comments & views. He is a fiscal conservative, & has a Pulitzer prize for writing. He is a frequent contributor to Fox News & writes weekly for the Washington Post. The entire room was held spellbound during his talk. I have shared this w/ many of you & several have asked me to summarize his comments, as we are living in uncharted waters economically & internationally. Even 2 Dims at my table agreed w/ everything he said! If you feel like forwarding this to those who are open minded & have not ‘drunk the Kool-Aid’, feel free.

Here is his resume from Wikipedia:

http://en.wikipedia.org/wiki/Charles_Krauthammer

A summary of his comments:

1. Mr. Obama is a very intellectual, charming individual. He is not to be underestimated. He is a ‘cool customer’ who doesn't show his emotions. It's very hard to know what's ‘behind the mask’. Taking down the Clinton dynasty from a political neophyte was an amazing accomplishment. The Clintons still do not understand what hit them. Obama was in the perfect place at the perfect time.

2. Obama has political skills comparable to Reagan & Clinton. He has a way of making you think he's on your side, agreeing w/your position, while doing the opposite. Pay no attn. to what he SAYS; rather, watch what he DOES!

3. Obama has a ruthless quest for power. He did not come to Washington to make something out of himself, but rather to change everything, incl. dismantling capitalism. He can’t be straightforward on his ambitions, as the public would not go along. He has a heavy hand, & wants to ‘level the playing field’ w/ income redistribution & punishment of the achievers of society. He would like to model the USA to Great Britain or Canada.

4. His 3 main goals are to control ENERGY, PUBLIC EDUCATION, & NAT’L HEALTHCARE by the Fed. govt. He doesn't care about the auto or financial services industries, but got them as an early bonus. The cap & trade will add costs to everything & stifle growth. Paying for FREE college education is his goal. Most scary is healthcare program, because if you make it FREE & add 46,000,000 people to a Medicare-type single-payer system, the costs will go thru the roof. The only way to control costs is w/ massive RATIONING of services, like in Canada. God forbid.

5. He’s surrounded himself w/ mostly far-left academic types. No 1 around him has ever run even a candy store. But they’re going to try & run the auto, financial, banking & other industries. This obviously can’t work in the long run. Obama’s not a socialist; rather a far-left secular progressive bent on nothing short of revolution. He ran as a moderate, but will govern from the hard left. Again, watch what he does, not what he says.

6. Obama doesn’t really see himself as President of the USA, more as a ruler over the world. He sees himself above it all, trying to orchestrate & coordinate various countries & their agendas. He sees moral equivilency in all cultures. His apology tour in Germany & England was a prime example of how he sees America, as an imperialist nation that has been arrogant, rather than a great noble nation that has at times made errors. This is the 1st President ever who has chastised our allies & appeased our enemies!

7. He’s now handing out goodies. He hopes that the bill (& pain) will not ‘come due’ until after he’s reelected in 2012. He’d like to blame all problems on Bush from the past, & hopefully his successor in the future. He has a huge ego, & Mr. Krauthammer believes he is a narcicist.

[continued....]To my friends and associates: Last Monday was a profound evening, hearing Dr. Charles Krauthammer speak to the Center for the... more

plusaf
added this

2 responses

added
24 days ago

POLL: What Drugs Should Be Leagalized?

Drug prohibition does more to make Americans unsafe than any other factor. Just as alcohol prohibition gave us Al Capone and the... more

critic
added this

22 responses

added
24 days ago

Pray for the best for the US economy.

Only time will tell if this is an accurate forecast.

Pray it's not.

June 15th, 2009...

"Today President Barack Obama's administration announced their plans to propose the most sweeping reorganization of financial-market supervision since the 1930s. The proposed changes would extend the government's reach into almost every aspect of the financial markets. Investment underwriting, mortgages, derivatives, market liquidity, bank failures, systematic risk monitoring, employee compensation, consumer protection, credit cards, leverage controls, commodity trading, will all be subject to more government control and regulation. This is a path to bigger government, less profits, and a prolonged recession in the financial sector.

President Barrack Obama is also picking up the pace on Healthcare reform. Today the president spoke to an audience of 250,000 doctors and pledged he is not in favor of socialized medicine. The president then, said the nation, (IE: The Government), must find ways to reduce unnecessary tests, procedures, and costs. This is a path to reduced service, reduced quality of care, and reduced earnings for everyone in the medical industry. IE: Socialized Healthcare.

Meanwhile, the President's recent tour and speeches overseas, when he extended olive branches to our enemies apologized for our countries actions, have done nothing to improve our safety.

Today North Korea's communist regime has warned of a nuclear war on the Korean peninsula while vowing to step up its atomic bomb-making program in defiance of new U.N. sanctions.

The markets continue to stay range bound and today's sell-off may be just a small dip, or the beginning of the next downturn. Tomorrow we'll have to see if buyers show up after today's sell-off. Though we recently closed some short positions, we are looking for a re-entry point in the next 2-8 weeks.

Our long-term view is still negative and we believe the recent rally is a "bear market rally" not the beginning of a new bull market. We expect the market to finish down in 2009, 2010, and 2011. All of the engines of economic growth have are negative. "Only time will tell if this is an accurate forecast. Pray it's not. June 15th, 2009... "Today President Barack... more