October, 2011
The Diminishing Middle Class in America
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 [...]
Don’t Raise Taxes or Cut Defense to Solve Budget Woes
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.
Forecasts for the Weeks of October 31 and November 1
Here are the forecasts for upcoming economic data.
Global rally and MF Global
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 [...]
Things Can Turn Ugly Really Fast For China
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 [...]
Some Economic Highlights
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.
Perry Tax Plan Little No Sense
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.
Equities and Credit Markets; Which is Correct?
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 [...]
Obama Mortgage Program Sows another Credit Crisis
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 [...]
Top News
- NJ: Caramel-colored rubbing alcohol sold as scotch May 24, 2013TRENTON, N.J. (AP) — At one bar, a mixture that included rubbing alcohol and caramel coloring was sold as scotch. In another, premium liquor bottles were refilled with water — and apparently not even clean water at that. […]
- Asia stock markets edge up after big sell-off May 24, 2013BANGKOK (AP) — Asian stock markets staged a mild recovery Friday, a day after being routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus. […]
- Stricken Japan nuke plant struggles to keep staff May 24, 2013TOKYO (AP) — Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper progress in the decades-long effort to safely decommission it. […]
- Procter & Gamble brings back A.G. Lafley as CEO May 24, 2013NEW YORK (AP) — Procter & Gamble Co. is bringing back its former CEO, as the world's largest consumer-products maker tries to spur global growth. […]
- Sears reports bigger-than-expected 1Q loss May 24, 2013NEW YORK (AP) — It was another ugly quarter for Sears Holdings Corp. […]