By: Dan Weil Many economists are worried about the possibility of a double-dip recession, but former Bank of England official David Blanchflower thinks it could be much worse than that if the Bush tax cuts aren’t extended. “If we don’t act fast, a plunge into Depression is a growing risk in . . . the […]
Tensions Rise in Greece as Austerity Measures Backfire The austerity measures that were supposed to fix Greece’s problems are dragging down the country’s economy. Stores are closing, tax revenues are falling and unemployment has hit an unbelievable 70 percent in some places. Frustrated workers are threatening to strike back. This dire prognosis comes even despite […]
Federal Reserve policy is taking a worrying turn towards monetarism. This can only result in an American ‘lost decade’
By: Dan Weil Economists agree that if the U.S. government doesn’t get its fiscal house in order soon, a crisis will ensue. But Lawrence Kotlikoff, an economist at Boston University, says the crisis already is here. “Let’s get real. The U.S. is bankrupt,” he writes in a column for Bloomberg. “Neither spending more nor taxing […]
By: Dan Weil -The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one, says Keith McCullough, CEO of research firm Hedgeye. “That could lead the country to the brink of collapse,” he wrote in a Fortune magazine column. McCullough agrees with economists Carmen Reinhart and Ken Rogoff, who […]
White House made lots of claims about stimulus, including up to 3.6 million private-sector jobs. So far, they are 5.3 million jobs short. By Julia A. Seymour Business & Media Institute 8/4/2010 3:48:56 PM On Aug. 6, everyone’s attention will be fixed on the release of July’s unemployment numbers. The national unemployment rate is forecast […]
Posted by Brian Darling Senators Tom Coburn (R-OK) and John McCain (R-AZ) have put out an excellent report on how your stimulus money is being spent. The report, Summertime Blues, has one example of Obama Stimulus money being used to study the effects of how “monkeys react under the influence of cocaine.” 28. Monkeys Get High […]
LONDON — Perhaps the only consistent thing about Britain’s socialized health care system is that it is in a perpetual state of flux, its structure constantly changing as governments search for the elusive formula that will deliver the best care for the cheapest price while costs and demand escalate. Even as the new coalition government […]
Remember all that discussion about the Congress not reading the entire healthcare bill? Well here are a few details that they aren’t bragging about. Under the new health care bill – did you know that all real estate transactions are now subject to a 3.8% Sales Tax? The bulk of these new taxes don’t kick […]
LOS ANGELES (MarketWatch) — A top Chinese central bank official suggested switching away from the U.S. dollar as a benchmark for the yuan’s foreign-exchange rate, switching instead to a basket of currencies, according to remarks published Thursday. In comments posted to the People’s Bank of China Web site, the central bank’s Deputy Gov. Hu Xiaolian […]
