The Congressional Budget Office reported that the nation’s wealth is widening. The top one percent earner, after adjusting for inflation and tax, grew 275 percent from 1979 to 2007. While the bottom 20 percent only saw an 18 percent increase in their income for the same period. The average increase for all households was 62 [...]
Democrats appear intent on handicapping the national economy with higher taxes and imperiling national security by cutting defense. Those are the wrong places to solve the nation’s budget woes.
Here are the forecasts for upcoming economic data.
Global equities rallied today on the news of an agreement in dealing with the Euro zone problems. Investors holding Greek bonds will take a 50 percent write down and banks will be recapitalized. German DAX rose 5.35 percent to 6,337.84. Dow Jones Industrials rallied 339 points to 12,208. S&P 500 had its best monthly gain [...]
As the world is looking for China’s growth to revive the global economy, China is facing issues that can potentially slum the Chinese economy. The massive stimulus that the Chinese government provided after the 2008 financial crisis created an economic growth illusion. The money poured into the Chinese economy resulted in empty cities and runaway [...]
European finance ministers canceled tomorrow’s meeting but the European leaders will still hold a summit in finding solutions for the European debt problems. The United States Consumer Confidence report came out today showing a drop to 39.8 and the Case-Shiller index of property values for 20 cities fell 3.8 percent from August 2010.
Seeking to jump start his flagging campaign and establish his pro-growth and fiscal responsibility credentials, Governor Rick Perry is unveiling a tax plan that will not jump start the economy and is fiscally irresponsible.
The equities market continued last weeks’ rally as the Dow Jones Industrial Average and the German DAX tested their major resistance at 12,000 and 6,000 respectively. There have been meetings in Europe attempting to come up with a plan to resolve the European debt problems. So far these meetings are nothing more then meetings agreeing [...]
Today, President Obama will revamp, yet again, his program to help middle and working class homeowners, who already owe than their homes are worth or have less than perfect credit ratings, refinance their mortgages. This is all about getting past 2012-not jump starting the economy-and could create yet another credit crisis for Mr. Obama or [...]