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Latest Articles: Business
Living in a Banksters’ Paradise – Part 1 of 2
Post Date: 2012-05-14 12:23:39 by Capitalist Eric
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As Coolio said, we spend our lives living in a gangsta’s paradise. What he failed to mention is that throughout history the most sinister and dangerous gangsters are banksters. There is no shortage of historical quotes to prove this point.Gerald Celente points out that the only time the Prince of Peace became violent is when he cleansed the temple of the money changers. ... Jesus went up to Jerusalem. In the temple he found those who were selling oxen and sheep and pigeons, and the money-changers sitting there. And making a whip of cords, he drove them all out of the temple, with the sheep and oxen. And he poured out the coins of the money-changers and overturned their tables. Today, ...
Oil Falls to 2012 Low on Greek Debt, Saudi Call for Drop
Post Date: 2012-05-14 11:28:10 by Brian S
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Oil fell below $94 a barrel in New York for the first time since December as Europe’s debt crisis worsened and Saudi Arabia’s energy minister said prices should decline further. West Texas Intermediate slid as much as 2.6 percent to the lowest level this year. Brent crude, trading at about $110 a barrel today, should drop to $100 as supply outweighs demand, Saudi Oil Minister Ali al-Naimi said yesterday in Adelaide, Australia. Futures also slipped after Greece failed to agree on a unity government and European Union officials considered the nation’s possible exit from the euro. Hedge funds cut bullish bets on oil by the most in three years, data showed last week. ...
Brookings Study: Detroit's Manufacturing Jobs Growth Was Second-Best Nationally From 2010 To 2011
Post Date: 2012-05-14 11:22:43 by Brian S
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Detroit now ranks second nationally for year-over-year job growth in the manufacturing sector, according to a study released Wednesday by the Washington, D.C.-based Brookings Institution. That's a significant leap from just a few years ago — between 2000 and 2010, the Detroit area ranked 99th among the largest metro areas around the country. Between the first quarter of 2010 and the fourth quarter of 2011, manufacturing jobs rose 12.1 percent in Detroit, Livonia and Warren. Brookings, a public policy nonprofit, found that the Detroit area now has about 188,000 manufacturing jobs, ranking sixth in the country. The average manufacturing wage is $67,804, with about 50 employees at ...
Workers Lacking Skills Hinder More U.S. Factory Gains
Post Date: 2012-05-14 11:19:29 by Brian S
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Paul Bonin has no problem getting enough orders to keep his South Bend, Indiana, factory busy. What he can’t find are enough qualified employees to work on the assembly lines. “The biggest challenge we face is a skilled labor force,” said Bonin, president of Bertrand Products Inc., which makes transmission parts for helicopters. He said he sees opportunities to fill more orders, “but I can’t take the work because I can’t find the workforce.” The inability to locate employees with the right abilities is holding back manufacturing, the industry that led the U.S. out of the worst recession since the 1930s, just as the economy shows signs of cooling. The ...
Spark in Sales of Cars and Trucks Drives U.S. Economy
Post Date: 2012-05-14 11:15:22 by Brian S
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Car sales that are running at the fastest pace in four years are poised to reverberate through the world’s largest economy as a spillover into production, profits and jobs for Americans may be starting. Auto purchases have exceeded a 14 million annual rate in each month this year, the strongest performance since early 2008, according to Ward’s Automotive Group. Government data show motor-vehicle output contributed half of the first quarter’s 2.2 percent economic growth. General Motors Co. (GM), the world’s largest automaker last year, boosted its 2012 industry-sales forecast, Ford Motor Co. (F) will add factory shifts and Chrysler Group LLC is stepping up hiring as ...
Marketplace Fairness Act
Post Date: 2012-05-14 09:13:48 by CZ82
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Tech at Night: Q&A with with Steve Scalise on Retransmission Consent; Snyder backs Marketplace Fairness Act; Lieberman-Collins gets opposition Posted by Neil Stevens Saturday, May 12th at 1:30PM EDT I know many RedState readers are big fans of Jim DeMint, so in my coverage of the Retransmission Consent debate, I’ve focused on him. However he’s not the whole story. This Congress, due to the TEA party-driven Republican majority, it’s been the House where our major regulatory reform successes have happened. And it’s Steve Scalise, Republican of Louisiana and Bobby Jindal’s successor in the House, who is the champion of the Next Generation TV Marketplace Act ...
Some Ala. Farmers Plant Fewer Crops, Say Immigration Crackdown Drove Away Workers To Pick Them
Post Date: 2012-05-13 19:33:23 by Brian S
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ONEONTA, Ala. — Some Alabama farmers say they are planting less produce rather than risk having tomatoes and other crops rot in the fields a second straight year because of labor shortages linked to the state’s crackdown on illegal immigration. Keith Dickie said he and other growers in the heart of Alabama’s tomato country didn’t have any choice but to reduce acreage amid fears there won’t be enough workers to pick the delicate fruit. Some farmers lacked enough hands to harvest crops because immigrants fled the state after Gov. Robert Bentley signed the immigration law last fall, and some told The Associated Press they fear the same thing could happen this year. ...
How Wall Street Killed Financial Reform
Post Date: 2012-05-11 11:13:29 by lucysmom
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Two years ago, when he signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, President Barack Obama bragged that he'd dealt a crushing blow to the extravagant financial corruption that had caused the global economic crash in 2008. "These reforms represent the strongest consumer financial protections in history," the president told an adoring crowd in downtown D.C. on July 21st, 2010. "In history." This was supposed to be the big one. At 2,300 pages, the new law ostensibly rewrote the rules for Wall Street. It was going to put an end to predatory lending in the mortgage markets, crack down on hidden fees and penalties in credit contracts, and create a ...
JPMorgan's Big Surprise: We Lost $2 Billion in 'Egregious Mistakes'
Post Date: 2012-05-10 19:19:10 by Brian S
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JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm lost about $2 billion on synthetic credit securities after an “egregious’” failure in its chief investment office, which the bank says focuses on hedging. “This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” the New York-based company said today in a quarterly securities filing. JPMorgan declined 5.5 percent to $38.50 in extended trading at 5:55 p.m. in New York. The chief investment office has been transformed in recent years under Dimon into a unit that makes bigger and riskier speculative bets with the ...
Taxing jobs out of existence
Post Date: 2012-05-10 19:15:01 by CZ82
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Taxing jobs out of existence by George F. Will 05/09/2012 BLOOMINGTON, Ind. -- Bill Hewlett and David Packard, tinkering in a California garage, began what became Hewlett-Packard. Steve Jobs and a friend built a computer in the California garage that became Apple's birthplace. Bill Cook had no garage, so he launched Cook Medical in a spare bedroom in an apartment in this university town. Half a century ago, in flight from Chicago's winters, he settled here and began making cardiovascular catheters and other medical instruments. One thing led to another, as things have a way of doing when the government stays out of the way, and although Cook died last year, Cook Medical, with ...
Obama’s Social Darwinism
Post Date: 2012-05-10 18:52:49 by CZ82
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Obama’s Social Darwinism Written on Thursday, May 10, 2012 by Nathaniel Davidson Last month, the Marxist-in-Chief blasted the Republican budget proposal as “thinly veiled social Darwinism.” Evidently it was too thinly disguised for anyone but him and his adoring Left-media hacks. In reality, the market is the antithesis of social Darwinism, which in reality has been the domain of the Left. The problem Unfortunately, even most conservative parents send their children to government schools, so they are more likely to fall for Obama’s cheap rhetoric. After all, in these schools, members of the fanatically Democratic teachers’ unions indoctrinate their captive ...
Jobless Claims Fall Again As Labor Market Continues Recovery
Post Date: 2012-05-10 11:24:38 by Brian S
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First-time claims for unemployment benefits fell slightly last week, quelling concern that the labor market is healing despite the recent slow down in hiring. Weekly applications fell by 1,000 to a seasonally adjusted 367,000 in the week ended May 5, from the previous week's upwardly revised figure of 368,000, the Labor Department reported Thursday. The four-week moving average, a less volatile measure than the weekly figure, fell for the first time since March, dropping by 5,250 to 379,000, from the previous week's revised average of 384,250. The economy and the trend of employment will play a key role in the November elections. Economists say that when claims drop consistently ...
Auto Sales Rise Puts U.S. on Pace to Best Year Since 2007
Post Date: 2012-05-10 11:20:07 by Brian S
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U.S. auto sales are on pace for the best showing since 2007 and a third straight year of at least 10 percent gains, only the fourth such streak since the Great Depression, as more-confident buyers return to showrooms. Automakers are adding overnight shifts and cutting workers’ vacations to meet demand. Sales this year may reach 14.3 million cars and light trucks, equal to the first-quarter pace, according to estimates from 14 analysts compiled by Bloomberg. It would be the best full year since 16.1 million in 2007. The same analysts in January were expecting sales this year of 13.6 million before Toyota Motor Corp. (7203) and others exceeded projections. “Even if we stay where ...
Home Prices Rise in Half of U.S. Cities as Markets Stabilize
Post Date: 2012-05-09 11:11:19 by Brian S
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Prices for single-family homes rose in about half of U.S. cities in the first quarter as property markets stabilized. The median price increased from a year earlier in 74 of 146 metropolitan areas measured, the National Association of Realtors said in a report today. In the fourth quarter, only 29 areas had gains. The U.S. housing market appears to be bottoming as improving employment and record-low mortgage rates boost demand while inventories of available properties tighten. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier, the Realtors said. “We have broad shortages of lower-priced homes in much of the country, ...
Fannie Mae Won’t Seek Aid After Reporting $2.7 Billion Profit
Post Date: 2012-05-09 11:10:30 by Brian S
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Fannie Mae, the biggest backer of U.S. home loans, said it won’t seek Treasury Department aid after reporting net income of $2.7 billion for the first quarter. The Washington-based company, which has operated under U.S. conservatorship since it was seized in September 2008, cited lower credit-related expenses, a decline in serious delinquency rates and a drop in its inventory of owned properties as contributors to the improvement, according to a statement released today. The company has drawn a total of $117.1 billion in aid while under government control. The first-quarter profit reflected a “less significant decline in home prices,” the company said in a Securities and ...
Gov't Cuts Summer Gasoline Price Forecast
Post Date: 2012-05-08 14:13:44 by Brian S
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(05-08) 11:08 PDT NEW YORK, (AP) -- The government says gasoline will be cheaper this summer than previously expected thanks to a drop in the price of oil. The Energy Department says drivers should pay an average of $3.79 per gallon at the pump from April through September. That's down 16 cents from last month's outlook and not that dramatic an increase from last summer's average of $3.71 per gallon. This month's forecast is a reversal from previous warnings of a sharp rise in gasoline prices. The government had said last month that gasoline prices in May could jump above a monthly average of $4.01 per gallon. Oil prices have dropped about $7 per barrel since April 2. ...
U.S. Job Openings Grow in Sign Employers More Optimistic
Post Date: 2012-05-08 11:15:40 by Brian S
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Job openings in the U.S. rose in March to the highest level in more than three years, a sign employers may be looking to take on more staff as the economy grows. The number of positions waiting to be filled increased by 172,000 to 3.74 million, the most since July 2008, from a revised 3.57 million the prior month that was larger than previously estimated, the Labor Department said today in a statement posted on its website. Hiring slowed and firings were little changed. Improving prospects may lure more workers into the labor market and help the world’s largest economy cut into the 5 million-job deficit that remains as a result of the recession that ended in June 2009. Faster hiring ...
U.S. To Run First (Monthly) Surplus Since 2008: CBO
Post Date: 2012-05-07 23:06:16 by Brian S
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WASHINGTON (MarketWatch) — The U.S. government recorded a budget surplus of $58 billion in April, the Congressional Budget Office estimated on Monday, breaking a streak of deficits that began in 2008. The surplus — the first of Barack Obama’s presidency — was the result of both increased tax collection and lower government spending. Before April, the government had not run a surplus since September 2008, the month that the financial crisis struck the U.S. economy. Read CBO report. The CBO’s estimate is released before the Treasury Department’s monthly budget report. That report is scheduled for later this week. CBO estimated that receipts were $30 billion ...
Volatility Drop to ‘07 Low Means Treasuries Steady Into Election
Post Date: 2012-05-07 11:37:09 by Brian S
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The collapse in price swings of U.S. government debt to a four-year low shows increasing investor confidence that yields will stay at about record lows amid growing competition for a dwindling supply of the safest assets. Rates may stay steady beyond June, when the Federal Reserve finishes swapping $400 billion of short-term debt for longer- term securities in a program known as Operation Twist, based on a measure of volatility in three-month options for U.S. 10-year interest-rate swaps. The so-called 3m10y swaption rate is about the lowest since June 2007, when the housing bubble burst. While yields on Treasury due in 10 years or less are below the pace of inflation, demand is at record ...
No Repeating Slowdown Seen by U.S. With Banks to Housing
Post Date: 2012-05-07 11:35:06 by Brian S
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The smallest gain in U.S. payrolls in six months need not presage the kind of slowdown that bedeviled the world’s largest economy for the past two years. Rising auto sales, improving bank credit and stabilization of housing are among the signs the economy is more resilient now than it was around the same time in 2010 and 2011, according to Marisa Di Natale, an economist at Moody’s Analytics in West Chester, Pennsylvania. “From where we sit right now, we think the economy looks fundamentally stronger,” Di Natale said. “Surveys of business and consumer confidence are better, the labor market data looks a lot better than it did last year, even some of the housing ...
U.S. Payrolls Rose 115,000; Jobless Rate Falls To 8.1%
Post Date: 2012-05-04 09:31:07 by Brian S
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By Peter Whoriskey, The unemployment rate dropped a notch to 8.1 percent in April, the Labor Department reported on Friday, but the pace of job growth has fallen off, amid other signs that the economic recovery is losing momentum. The economy added 115,000 payroll jobs in April, a meager showing compared with earlier this year when the jobs tally was rising at twice that rate. The number of unemployed people in the United States declined to 12.5 million in April from 12.7 million the month before. But at least part of the reason behind that decline in the number of unemployed is that many people decided to stop looking for for job: The labor force, defined as the number of people ...
Fed's Plosser: Expects Growth To Continue, Amid More Job Gains
Post Date: 2012-05-03 14:35:22 by Brian S
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SANTA BARBARA, Calif. -(Dow Jones)- A veteran Federal Reserve official offered on Thursday an upbeat view of the economy's future path. Describing himself in the "more optimistic camp" relative to the rest of the central bankers' outlook, Federal Reserve Bank of Philadelphia President Charles Plosser said in the text of a speech to be delivered before the University of California Santa Barbara Economic Forecast Project 2012 that he expects continued growth, contained inflation, and job gains. Plosser said he expect the economy to expand by 3% this year and next, and he said he expects "inflation will hover near or slightly above 2% over much of the period." ...
Forget Retirement... and Retirement Savings
Post Date: 2012-05-03 12:47:16 by Capitalist Eric
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You've been sold a bill of goods for the last four to six decades. You've been told that nation-states, democracy and socialism is good. You've been told our monetary system prevents instability. And, while the government and central banks put your unborn children or grandchildren into debt for life they've been telling you that there will be a socialist safety net to protect you and that the "American dream" includes retiring in your 50s or 60s to a wonderful life of golf and lying on the beach. It even appeared to work for a short while thanks to demographics and the greatest advances in human history. The baby boom caused by the nation-state (which created ...
AP Survey: Steady Job Gains To Sustain US Recovery; Unemployment rate under 8% by Election Day...
Post Date: 2012-05-03 11:50:25 by Brian S
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WASHINGTON (AP) - Hiring through the rest of 2012 will lag the brisk pace set early this year. But it will be strong enough to push the unemployment rate below 8 percent by Election Day. That's the view that emerges from an Associated Press survey of 32 leading economists who foresee a gradually brighter jobs picture. Despite higher gas prices, Europe's debt crisis and a weak housing market, they think the economy has entered a "virtuous cycle" in which hiring boosts consumer spending, which fuels more hiring and spending. The survey results come before a report Friday on hiring during April. The April report is eagerly awaited because employers added surprisingly few ...
Jobless Claims Post Biggest Drop In A Year
Post Date: 2012-05-03 11:40:52 by Brian S
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New claims for unemployment benefits tumbled more than expected in the latest week, raising hopes that the job market remains on the mend. The Labor Department said Thursday that seasonally-adjusted claims fell 27,000 to 365,000 in the week ended April 28. It was the largest weekly drop in claims since May of 2011. Claims also were at their lowest since the March 31 week and were well below the 380,000 expected by economists. The four-week moving average gained 750 to 383,500. The prior week's figure was revised up to 392,000 from the previously reported 388,000. The data has no bearing on the government's closely watched employment report for April, to be released on Friday. ...
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