Economics

Obama-pression: 1.9 Million Jobs lost since Stimulus Bill

June 15, 2011

[expand title=Read More] Source “Twenty-eight months after Congress passed President Obama’s signature economic stimulus law, and nearly one year after he declared the summer of 2010 to be “Recovery Summer,” 1.9 million fewer people are employed. In February 2009, the Bureau of Labor Statistics (BLS) reported that 141.7 million people were employed. By the end of [...]

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Stocks finish with strong day

June 14, 2011

[expand title=Read More] Source The Dow Jones Industrial Average went up 123.14 points (1.03%) to finish the day at 12,076.11 The S&P 500 went up 16.04 points (1.26%) to end at 1,287.87 The NASDAQ Index rose 39.03 points (1.5%) to 2,678.72 [/expand]

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Krugman: Medicare saves money. Don’t raise the age for Medicare eligibility.

June 14, 2011

“Like Republicans who want to end Medicare as we know it and replace it with (grossly inadequate) insurance vouchers, Mr. Lieberman describes his proposal as a way to save Medicare. It wouldn’t actually do that.”

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Deficit on track to exceed $1 Trillion for the third-consecutive year

June 14, 2011

Source

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Retiring baby boomers, rising health costs a toxic combination

June 14, 2011

[expand title=Read More] Source “Medicare is the smaller of the nation’s two most popular entitlement programs — but it has the larger and more immediate budget problems. As tens of millions of baby boomers begin to retire, the strains of funding Medicare, the government’s health insurance program for the elderly, will only grow over the next [...]

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Trustees: Social Security and Medicare need reform now

June 14, 2011

[expand title=Read More] Source “Chuck Blahous and Robert Reischauer, the two independent trustees of the Social Security and Medicare Trust Fund, had a sober warning Friday: act quickly or the nation’s two most popular entitlements are in serious danger. “The earlier we act to deal with these problems, the better off we’re gonna be, certainly better off the vulnerable [...]

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Chinese inflation growing

June 14, 2011

[expand title=Read More] Source “China said inflation accelerated last month, reinforcing expectations that the government is likely to keep tightening despite widening signs that activity is already slowing in the world’s No. 2 economy. The consumer price index rose 5.5% in May from a year earlier, the National Bureau of Statistics reported early Tuesday in Beijing. [...]

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Gas prices on the decline

June 14, 2011

[expand title=Read More] Source “The average per-gallon gas price in the United States has dropped nearly 17 cents in the past three weeks, and likely will continue to drop further, according to a survey published Sunday. The Lundberg Survey found the average price of a gallon of self-serve regular gasoline as of Friday was $3.74. Prices [...]

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Israeli central banker Stanley Fischer makes late IMF bid

June 14, 2011

[expand title=Read More] Source Israeli central banker Stanley Fischer announced a formal bid to head the International Monetary Fund, positioning himself as a dark-horse candidate as the race enters its final stages. “In normal times, you can probably rely on intuition,” Mr. Fischer said in an interview. “But all the time, in different countries, there are [...]

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African leaders begin talks on an $875 billion trading block

June 14, 2011

[expand title=Read More] Source “African leaders Sunday agreed to a framework to guide the next phase of negotiations on creating the continent’s biggest free-trade bloc, in a communique issued after a day of talks. The new bloc would integrate the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern [...]

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PIMCO’s Bill Gross: U.S. in worse shape than Greece

June 13, 2011

[expand title=Read More] Source When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday. Much of the public focus is on the nation’s public debt, which is $14.3 trillion. But [...]

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Greece given world’s lowest credit rating, “CCC”, by S&P

June 13, 2011

[expand title=Read More] Source “The move to CCC from B reflects “our view that there is a significantly higher likelihood of one or more defaults,” S&P said in a statement yesterday. “Risks for the implementation of Greece’s EU/IMF borrowing program are rising, given Greece’s increased financing needs and ongoing internal political disagreements surrounding the policy conditions [...]

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Fudged by Drudge: Government jobs (in North Carolina) relatively unchanged

June 13, 2011

[expand title=Read More] http://www.carolinajournal.com/exclusives/display_exclusive.html?id=7889 Public employment in North Carolina has remained relatively stable since the start of the recession, growing 0.07%, whereas private sector employment has shrunk 8.90%. The Drudge Report presented this issue with the headline: “Government Jobs Untouched by the Great Recession…” [/expand]

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Dow finishes (ever so slightly) up

June 13, 2011

[expand title=Read More] Source The Dow Jones Industrial Average grew 1.06 points (0.01%) to 11,952.97 The S&P 500 went up 0.85 points (0.07%) to 1,271.83 The NASDAQ Index fell 4.04 points (-0.15%) to 2,639.69 [/expand]

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The High-Grade Corporate Bond Market Falls to its slowest pace this year

June 11, 2011

[expand title=Read More] Source –Weekly high-grade issuance at year-to-date low –Risk aversion and sovereign-debt woes sideline players –More M&A-fueled supply expected but at less hurried pace [/expand]  

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