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Obama weighs steps to spur jobs, wary on deficit – Obama, who earlier signed a bill to extend jobless benefits and a homebuyer tax credit, said his team was studying new spending on roads and bridges, business tax cuts, refitting buildings to make them more energy efficient, easing the flow of credit to small businesses and boosting U.S. exports.
When government slippery slope goes vertical – In the Obama era, the slippery slope has gone vertical. Instead of “eventually,” the feared extensions of government power come immediately.
FACTBOX: Health company winners, losers in U.S. House bill – Following are some of the winners and losers in the U.S. healthcare industry based on language in the House bill.
Choosing fantasy or facts – Those on the left never stop claiming that problems will be solved if only tax rates are increased. Why then does California, with its 10.6 percent state income tax rate, have a huge budget deficit and a 12.2 percent unemployment rate, while Texas, which does not have a state income tax, enjoys a budget surplus and a below average unemployment rate of 8.2 percent?
Bad Climate for Global Worriers – …humanity now has about 30 days to save itself…unless a decisive agreement is reached at the 192-nation summit on climate change that opens Dec. 7 in Copenhagen, all is lost. So, all is lost. The chances of a comprehensive and binding treaty are approximately nil.
Plan to create fund for bailouts hits hurdles – Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse.
Marc Faber has short term concerns about commodities, says gold may drop to US$800 – in the case of gold a decline below US$1,000 would likely lead to further more meaningful weakness, possibly down to between US$800 and US$900
WE DON’T HAVE THE MONEY - The financial condition of the Social Security and Medicare programs remains challenging. Projected long run program costs are not sustainable under current program parameters
Public Pensions Face Ugly Choices - States and municipalities are in deep financial trouble. Pension performance has faltered. Over a trillion dollars worth of municipal pension fund assets have been erased in the recent market meltdown. The average public pension plan is 35% under-funded, and things are getting worse.
Hedge-Fund Giant Surfaces in Trading Probe – The widening investigation of insider trading on Wall Street is expected to examine transactions at Steven A. Cohen’s SAC Capital Advisors, one of America’s largest and most successful hedge funds, according to people familiar with the matter
Einhorn: First, Let’s Kill All the Credit Default Swaps – David Einhorn, who enjoys his considerable reputation for hard-fought battles against firms with shaky finances and dubious accounting (Allied Capital and Lehman), has taken aim at a new and equally deserving target: credit default swaps
Four Signs that the Recession Continues - Job creation is the key to economic recovery, FHA loan exposures are becoming problematic, the Strategic Default becomes an American Craze, and Wells Fargo (WFC) plays “kick the can”.
Home Purchase Tax Credit Extended: Is This Wise? – No, but the senators do not care.
Zombies Draining Deposits from Healthy Banks – FDIC is planning to put a cap on the rates under capitalized banks are offering on deposits
