Archive for the 'Economy' Category

Where’s Obama’s Jobs Bill?!? Oh, Wait. Here It Is.

By Justin Gardner | Related entries in Barack, Democrats, Economic recovery, Economy, Jobs, Legislation, Obama, Republicans

But…but…this goes against the Republican narrative! American Jobs Act — Final There really aren’t any controversial elements in here at all. Yes, Republicans are going to push back on any additional spending, but it’ll be hard for them to break this apart and only get the tax cuts through. So it’ll be up to them [...]

September 12th, 2011 | Permalink| No Comments »

David Frum On Conservative Economics: Were We Wrong?

By Justin Gardner | Related entries in Business, Economic crisis, Economic recovery, Economy, Money, Republicans

A very sobering piece to write, no doubt, but needed nonetheless. Especially when you consider the revised GDP numbers from 2008. From Frum Forum: Two years ago, Commerce estimated the decline of the US economy at -0.5% in the third quarter of 2008 and -3.8% in the fourth quarter. It now puts the damage at [...]

August 4th, 2011 | Permalink| 15 Comments »

ADP: Jobs Grew by Nearly 300,000 In December

By Justin Gardner | Related entries in Economic recovery, Economy, Jobs

Looks like businesses are finally feeling some confidence. Maybe they read my post? Probably not. Regardless, if the above number holds up when the government reports on Friday it would represent triple what Wall Street was predicting. Daily Finance has more good news: Separately, private placement firm Challenger, Gray & Christmas said planned layoff announcements [...]

January 5th, 2011 | Permalink| 1 Comment »

A Happy New Year message from Peter Schiff: The value of your house is still 20% too high.

By mw | Related entries in Bad Decisions, Economic recovery, Economy, Federal Reserve, Fiscal stimulus, Housing

When an economic bubble bursts, normalcy can only return if the price excesses created during the bubble are wrung out of the market. A recession is often a painful but necessary market mechanism that corrects the pricing distortion and consequent misallocation of capital that occurs in a bubble. When government intervention prevents the mispriced asset class from fully deflating, capital continues to be misallocated and economic malaise lingers on. This is the takeaway message from Peter Schiff’s Wall Street Journal editorial.

December 31st, 2010 | Permalink| 22 Comments »

Bloomberg Slams Both Sides On The Economy

By Justin Gardner | Related entries in Bipartisan, Bloomberg, Democrats, Economy, Republicans, Video

Big time speech today from the guy who definitely has his eye on the White House. Here’s the video… I’ll offer the transcript below after my analysis. Personally, this feels disingenuous from a guy like Bloomberg who has repeatedly used the government to regulate New York City businesses and consumer behavior six ways to Sunday. [...]

December 8th, 2010 | Permalink| 14 Comments »

Gallup: 62% Of Conservative Republicans Against Extending Unemployment Benefits

By Justin Gardner | Related entries in Economy, Money, unemployment

Take a look… I’m sorry, but I literally can not understand the thought process here. They talk about deficit spending until they’re blue in the face, but they favor massive, unpaid tax cuts for the super rich, while wanting to deny unemployment benefits for the people who need it most. Baffling.

December 8th, 2010 | Permalink| 48 Comments »

How The GOP Wins (Or Loses) The White House In 2012

By Justin Gardner | Related entries in 2012 Election, Barack, Democrats, Economy, Elections, Huckabee, Obama, Palin, Republicans, Romney, Taxes

Obama is baiting the trap and if the GOP candidate doesn’t take it in 2012, it could spell trouble for the Dems. Last night the President said this… I have no doubt that everyone will find something in this compromise that they don’t like. In fact, there are things in here that I don’t like [...]

December 7th, 2010 | Permalink| 7 Comments »

Lame Quacks

By donar | Related entries in Barack, Cartoons, Congress, Conservatives, D.C., Democrats, Economy, House, Legislation, Obama, Political Graffiti, Republicans
December 7th, 2010 | Permalink| 1 Comment »

Obama Compromises On Bush Tax Cut Extension & Unemployment Benefits, But…

By Justin Gardner | Related entries in Barack, Economy, Obama, Republicans, Taxes, tea party

In order to get the votes he needs to make sure unemployed Americans get the relief they need (and deserve) and employed Americans continue to enjoy payroll tax cuts, Obama is cutting a deal with the Repubs on the extension of the Bush tax cuts. As I’ve pointed out previously, this goes against the anti-spending [...]

December 6th, 2010 | Permalink| 7 Comments »

After failing test in midterms, Prez takes the ‘professional left’ to school.

By mw | Related entries in 2010 Election, 2012 Election, Barack, Budget, Economy, Fiscal Responsibility, Obama

President Obama and his political brain trust were diligently taking notes while getting schooled in the midterms. On Monday President Obama announced a federal employee pay freeze for non-military employees. On Tuesday he met with congressional leadership and assured the American people that he heard the voice of the voters.

December 1st, 2010 | Permalink| 15 Comments »

Carving the Currency

By mw | Related entries in Bad Decisions, Ben Bernanke, Economy, Federal Reserve, Fiscal Responsibility, geithner, Money

Observing the carving of our currency, as it is sliced by administration fiscal policy and diced by Fed monetary policy.

November 26th, 2010 | Permalink| 15 Comments »

GM And Chrysler Investing Additional $1B In US Auto Manufacturing

By Justin Gardner | Related entries in Business, Cars, Economy

The move will save nearly 2,500 jobs.

November 24th, 2010 | Permalink| 7 Comments »

Alright Corporations, Time To Start Hiring

By Justin Gardner | Related entries in Business, Economy

Hey there corporations! Hope all is well. If the news today is any indication, looks like things are going great! Your profits have gone up seven straight quarters and collectively reached a record high. Here, just take a look at this graph… Wow! You must be pumped!

November 23rd, 2010 | Permalink| 12 Comments »

Will The GOP Raise The Debt Ceiling?

By Justin Gardner | Related entries in Economy, Legislation

Looks like the new batch of Republicans are already signaling that they’ll refuse to raise the debt ceiling… even though John Boehner is telling them they must. From WSJ: [...] on Thursday, Minority Leader John Boehner (R., Ohio) said he’s been talking to the newly elected GOP lawmakers about the need to raise the federal [...]

November 19th, 2010 | Permalink| 9 Comments »

Currency Envy

By donar | Related entries in Cartoons, China, Economy, Political Graffiti
November 17th, 2010 | Permalink| 4 Comments »

GOP and unemployment benefits

By donar | Related entries in Cartoons, Conservatives, Deficit, Economic crisis, Economy, Elections, Political Graffiti, Republicans
November 12th, 2010 | Permalink| 6 Comments »

“The Economist” defends divided government from attack by hysterical Nobel Prize winning emo economist

By mw | Related entries in 2010 Election, Economic crisis, Economy, Partisan Hacks, Partisan Nonsense

This election cycle precipitated a conversation about the virtues and vices of a divided federal government in both new and traditional media. In the last few days before the vote, the amplitude spiked. Much of the most recent attention is in the form of an attack from the left on the foundation of the divided government voting rationale. One such attack – an awe inspiring, world class hysterical hissy fit by Paul Krugman from the lofty platform afforded him by the New York Times:

November 1st, 2010 | Permalink| 19 Comments »

Why The GOP’s Gains Are Built On A Sham

By Justin Gardner | Related entries in 2010 Election, Economy

First, the facts from Bloomberg… The Obama administration cut taxes for middle-class Americans, expects to make a profit on the hundreds of billions of dollars spent to rescue Wall Street banks and has overseen an economy that has grown for the past five quarters. Now the perception… A Bloomberg National Poll conducted Oct. 24-26 finds [...]

October 29th, 2010 | Permalink| 28 Comments »

Investors Still Love Divided Government

By mw | Related entries in 2010 Election, Business, Congress, Economy

I do not believe there is any case to be made for a statistical correlation between market direction and political parties in power that will stand up to rigorous mathematical scrutiny over the long term. However, in the short term, if investors believe that divided government is good for markets, then that expectation can be a self-fulfilling prophecy. That may be what we are seeing in the market now in anticipation of the November results. Apparently the investor class really believes that divided government is good for the market, and we are going to get it in the election.

October 20th, 2010 | Permalink| 3 Comments »

Moody’s: Rich Don’t Spend Tax Cuts

By Justin Gardner | Related entries in Economy, Money, Taxes

Bloomberg has some news that reinforces what many of us suspected…the rich save their tax cuts: Hand the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it. Tax cuts in 2001 and 2003 under President George W. Bush were followed by increases in the saving rate among [...]

September 13th, 2010 | Permalink| 15 Comments »