NYSE Falls 228 pts Today the Largest Decline in 7 Months
Related: Stocks Sink on China; Saudi Unrest–Euro Weakens –Reuters
Economist Warns of Double Dip Recession if Oil Hits $140 –Breitbart
Archive for the ‘Economy’ Category
NYSE Largest Drop In 7 Months Falls Below 12,000
Thursday, March 10th, 2011Gallup: Scaling Back State Programs Is Least Of Three Evils
Wednesday, February 23rd, 2011
As Wisconsin, Ohio, Indiana and other states struggle to reduce untenable budget deficits, a new USA Today/Gallup finds that not one of three major fiscal strategies available to state lawmakers is very popular. The lease objectionable to Americans “is reducing or eliminating certain state programs” with about equal numbers in favor as opposed.
A slight majority 53% opposes reducing pay and benefits to state workers and a larger majority 71% opposes raising taxes.
About two-thirds of Americans 64% perceive their own state is facing a budget crisis based on what they have read or heard—31% remain unsure and 5% state say their state is not.
Additionally the new poll finds Americans opposed to their own state adopting a deficit reduction proposal like the one that has triggered a legislative stand-off in Wisconsin, that would eliminate some of the collective bargaining rights of most public unions—including Teachers Unions. 1/3 of Americans would favor such a bill in their own state while 61% would oppose it.
Related: Gallup: Number of Solidly Democratic States Cut in Half from 2008–2010
Democrat Urges Unions to “get a little bloody when necessary” –The Hill
Indiana State Senate Passes Law to Curb Teachers Unions –Reuters
Gallup: Unemployment 10%
Thursday, February 17th, 2011
Unemployment as measured by Gallup without seasonal adjustment hit 10% in mid-February up from 9.8% in January
Where are the 10 Million Jobs Sen. Chuckie Schumer D-NY claimed were saved by Obama’s Economic Stimulus & TARP?
More here from Gallup
Related: Stimulus Failure: 48 out of 50 States Lost Jobs Since Obama’s Economic Stimulus
Consumer Prices Rise 0.6% in January
Thursday, February 17th, 2011
Inflation continues to climb during Obama’s watch, jumping 0.6% in January the largest surge in consumer prices in 5 months.
The higher inflation pressures come at a time when a number of reports in recent weeks have shown economic weakness.
More here from MSNBC
Obama’s $53 Billion Dollar High Speed Train Boondoggle
Tuesday, February 15th, 2011
President Obama’s $53 Billion Dollar High Speed Rail Boondoggle understates the costs, overstates the benefits with lots of supersonic rhetoric—speeding at 150 to 200 mph, the reality would be an average speed of 85 mph and a mere 30 mph when its going over the mountains outside of Bakersfield, CA
Related: Obama Transportation Sec’y LaHood’s High Speed Rail Slush Fund –Michelle Malkin
Good News/Bad News: GDP Bounce 3.2% in Fourth Qtr; Economy Too Weak To Cut Unemployment & Deficit
Friday, January 28th, 2011
Obama To Unveil New Impoved Stimulus Plan Tuesday–Why?
Monday, January 24th, 2011
Illinois Democrat-Socialist: Obama Will Unveil New Improved Spending Bill Tuesday
Why—Because Obama’s previous economic stimulus has worked so well?
Whatever happened to them 3 Million Jobs Obama created or saved during Recovery Summer?
Why is it that Obama needs a new Stimulus Slush Fund?
Obama’s 2009 Unspent Stimulus Dollars –Business Standard
Related: The Budget Battle: How President Obama is Trapped –The American Spectator
Next Up On GOP Agenda: Dealing With Bankrupt Cities & States
Monday, January 17th, 2011
Demagoguery and deranged shootings in Arizona have diverted national attention from the looming threat of municipal bond defaults–state and local government bankruptcies go hand in hand. This danger was identified months ago in a report by Meredith Whitney the report premise is that some governments will soon have difficulty funding transfers to local governments and given current out of control spending, approximately 100 municipalities will likely default.
On a scale of 1 to 10 we should count this threat as a level 10 problem and start ringing the alarms.
More here Next on GOP Agenda–Dealing with Bankrupt Cities & States –Townhall.com
Related: A Bankruptcy Law–Not Bailouts for the States –Wall Street Journal
China President Hu Jintao, Questons U.S. Dollar Future
Monday, January 17th, 2011
China President Hu Jintao questions value of the U.S. Dollar Reserve Currency Status, ahead of the beginning of tomorrows visit to Washington and meetings with Obama
On the 25 November, I wrote here that China & Russia have renounced the dollar and will resort to their own currencies for bilateral trade.
Related: Chinese Netizens: Do Not Treat Dollar as Treasure –Watching America
Are You Ready For $7.00 Gallon Gasoline?
Thursday, January 6th, 2011
Gasoline Prices at an Exxon Station Washington. DC on the 29 December, 2010
In 2004 Congressional Democrats chided the Bush Administration to ease gasoline prices when gas prices were under $2.00 a gallon—In 2006 Sen. Barbara Boxer, D-CA complained, “Since George Bush and Dick Cheney, took over as President and Vice President, gas prices have doubled…They are too cozy with the Oil Industry.”
In 2008, then Speaker of the House Nancy Pelosi, D-CA blasted President Bush for rising gasoline prices. In April, 2008 Senate Majority Leader Harry Reid, D-NV echoed Pelosi’s comments claiming that gasoline prices were “the number one issue facing America today.”
Where is the outrage of Democrat-Socialists today?
Since “Hoax-n-Chains” took office in 2009 the price of oil has skyrocketed 117% surging energy prices will soon have a devastating effect on any potential economic recovery as costs for goods and services at all levels will become catastrophic to American Consumers, as prices for everything must rise to offset the costs passed on by business.
Why have the Democrat-Socialists been silent?
What will happen to the U.S. Economy should gasoline prices spike to $7.00 a gallon?
Ridiculous? Obama’s Environmental Plan Could Mean $7.00 Per Gallon Gasoline
Related: Boxer: Obama will Reject any bill Delaying EPA Climate Change Rules –The Hill
Out of Control EPA Imposes New Rules to Save Klamath River Salmon –Seafood News Today
When Gasoline Hits $4.00 a Gallon, Will it be Slow Enough for Obama? Pajamas Media