The American Dream Is Quickly Becoming The American Nightmare

economy No Responses »
Nov 062010
Camden, New Jersey is one of the poorest citie...
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Millions of American families are about to be broadsided by rising gas and food prices and most of them don’t even realize it.  You see, most Americans stop listening when terms such as “quantitative easing” and “agricultural commodities” are brought up, but when millions more Americans are faced with a choice of either feeding their families or heating their homes this winter, maybe then they will start listening.  Even before the Federal Reserve announced the latest round of quantitative easing, the price of oil has been going up and the price of food has been going up.  Now that the Federal Reserve has announced plans to flood the economy with hundreds of billions more dollars, the inflation monster is going to get even hungrier.  The household budgets of scores of American families are going to be stretched beyond the breaking point as prices rise.

The Price Of Oil Is Going Up, The Price Of Food Is Going Up And Now Here Comes Quantitative Easing.

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Posted by genomega at 10:56 am Tagged with: , , , , , , ,

Mass Layoffs in August

economy, News No Responses »
Sep 232010
Manufacturing employment in Cleveland, OH MSA.

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In August, 403 mass layoff events were reported in the
manufacturing sector, resulting in 46,540 initial claims.
Employers took 1,546 mass layoff actions involving 150,192
workers. Events decreased by 63 over the month, while associated
initial claims increased by 6,489.

http://www.bls.gov/news.release/pdf/mmls.pdf

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Will Your Children Grow Up To Be Servants And Nannies?

economy, News No Responses »
Jul 232010
OAKLAND, CA - JANUARY 09: A job seeker uses a...
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Will large numbers of today’s children grow up to become servants and nannies in the homes of the digital bourgeoisie? There is good reason to believe that the answer is yes.

The most pressing issue of the day remains sky-high unemployment. There is, however, almost no consensus about how to think about the the depth of the problems facing the U.S. labor market. Many believe that the staggering unemployment rate is purely cyclical. Karl Smith, an economist at the UNC School of Government, has written a post on “the myth of structural unemployment,” arguing that “the structure of the American economy hasn’t changed that much in the last 24 months.”  read more

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The Rich Catch Everyone Else’s Cutback Fever

economy, News 2 Responses »
Jul 182010
Consumer confidence average
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NYTimes blames non-recovery on the rich.

Wealthy Reduce Buying in a Blow to the Recovery

The economic recovery has been helped in large part by the spending of the most affluent. Now, even the rich appear to be tightening their belts.MultimediaGraphicSaving vs. SpendingLate last year, the highest-income households started spending more confidently, while other consumers held back. But their confidence has since ebbed, according to retail sales reports and some economic analysis.“One of the reasons that the recovery has lost momentum is that high-end consumers have become more jittery and more cautious,” said Mark Zandi, chief economist for Moody’s Analytics.That cautious attitude stems in part from concerns about global instability, especially in Europe, and in part from the volatility of the stock market in recent months. Major stock indexes fell sharply on Friday, after several big companies announced disappointing earnings. Bank stocks were the biggest losers as investors wrestled with the twin issues of lower trading profits from Citibank and Bank of America and the prospect that new financial regulation would further crimp their businesses.

via The Rich Catch Everyone Else’s Cutback Fever – NYTimes.com.

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ANALYSIS OF THE KERRY-LIEBERMAN CAP-AND-TRADE BILL

economy, leftists, News No Responses »
Jul 032010

The “American Power Act” proposed by Sen. John Kerry and Sen. Joseph Lieberman
would establish a broad-based U.S. cap-and-trade system. Using an input-output model
we estimate the distributional cost of the cap-and-trade portions of the bill to households
by income, age group, U.S. region and family type, as well as the value of various
industry subsidies granted by the bill. In a typical year (2020), households would face a
gross annual burden of $125.9 billion per year or $1,042 per household, with costs
disproportionately borne by low-income households. On a net basis, the large quantity of
allowances distributed freely to companies leads households in the top income quintile to
benefit financially, redistributing to these households roughly $12.3 billion per year from
the bottom 80 percent of earners. Overall, we estimate the bill would reduce U.S.
employment by roughly 522,000 jobs in 2015, rising to over 5.1 million jobs by 2050.
Finally, we explore two theoretical issues: (1) we offer microeconomic evidence that
shareholders rather than households are most likely to benefit from the bill’s free
allowances to electricity and natural gas utilities; and (2) we show how the bill’s
exclusion of petroleum refiners from quarterly auctions is likely to increase rather than
decrease allowance price volatility, directly contradicting the intent of the legislation.

http://www.instituteforenergyresearch.org/wp-content/uploads/2010/06/KL-APA-Final-Study.pdf

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Moody’s warns of 'social unrest’ as sovereign debt spirals

economy, News, recession No Responses »
Apr 122010

In a sombre report on the outlook for next year, the credit rating agency raised the prospect that future tax rises and spending cuts could trigger social unrest in a range of countries from the developing to the developed world.It said that in the coming years, evidence of social unrest and public tension may become just as important signs of whether a country will be able to adapt as traditional economic metrics. Signaling that a fiscal crisis remains a possibility for a leading economy, it said that 2010 would be a “tumultuous year for sovereign debt issuers”.

via Moody’s warns of ‘social unrest’ as sovereign debt spirals – Telegraph.

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Congressional Dems threaten companies who complain about Obamacare costs

economy, News 1 Response »
Mar 282010

There’s nothing new in Congressional Democrats hauling businesses before some committee or other to brow beat them and get face time on TV.

So, it should come as no surprise that these jack booted thugs would order executives from companies that pointed out the massive increase in costs a particular provision in Obamacare would cause them to incur to testify before Congress.

“Caterpillar said Obamacare will cost it an additional $100 million in the first year; Medtronic warned that the new tax on its products “could force it to lay off a thousand workers;” Verizon told its employees that it “will likely have to cut healthcare benefits to offset the new costs;” and AT&T announced that it will record a $1 billion non-cash expense in the first quarter and “will be evaluating prospective changes to the active and retiree health care benefits offered by the company.”"

http://www.americanthinker.com/blog/2010/03/congressional_dems_threaten_co.html

http://snipurl.com/v4qhl

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