Archive for the ‘Depression’ Category

Is That College Degree Worth It?…

By: admin
Published: June 25th, 2013

There is a new study by the Georgetown University 

In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA and graduate degree holders. We show that STEM — Science, Technology, Engineering, and Mathematics — majors typically offer the best opportunities for employment and earnings, while unemployment is higher for graduates with non-technical degrees. 

Here are some of our major findings:

1. Even as the housing bubble seems to be dissipating, unemployment rates for recent architecture graduates have remained high (12.8%). Graduate degrees and work experience did not shield these graduates from a sector-specific shock; graduates with experience in the field have the same jobless rates as the economy overall (9.3%)

2. Unemployment is generally higher for non-technical majors, such as the arts (9.8%) or law and public policy (9.2%).

3. People who make technology are still better off than people who use technology. Unemployment rates for recent graduates in information systems, concentrated in clerical functions, is high (14.7%) compared with mathematics (5.9%) and computer science (8.7%).

4. Unemployment rates are relatively low for recent graduates in education (5.0%), engineering (7.0%), health and the sciences (4.8%) because they are tied to stable or growing industry sectors and occupations. 

5. Graduates in psychology and social work also have relatively low rates (8.8%) because almost half of them work in healthcare or education sectors. 

Slide presentation  after the jump….

Earnings by degree

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The Businesses Strike Back

By: admin
Published: October 11th, 2012

Darden tests limiting worker hours as health-care changes loom

Analysts say many other companies, including the White Castle hamburger chain, are considering employing fewer full-timers because of key features of the Affordable Care Act scheduled to go into effect in 2014. Under that law, large companies must provide affordable health insurance to employees working an average of at least 30 hours per week.

If they do not, the companies can face fines of up to $3,000 for each employee who then turns to an exchange — an online marketplace — for insurance.

“I think a lot of those employers, especially restaurants, are just going to ensure nobody gets scheduled more than 30 hours a week,” said Matthew Snook, partner with human-resources consulting company Mercer.

Darden said its goal at the test restaurants is to keep employees at 28 hours a week.

Analysts said limiting hours could pose new challenges, including higher turnover and less-qualified workers.

Wynn On Obama: “I’ll Be Damned If I Want To Have Him Lecture Me”

WYNN: I’ve created about 250,000 direct and indirect jobs according to the state of Nevada’s measurement. If the number is 250,000, that’s exactly 250,000 more than this president, who I’ll be damned if I want to have him lecture me about small business and jobs. I’m a job creator. Guys like me are job creators and we don’t like having a bulls-eye painted on our back.
The president is trying to put himself between me and my employees. By class warfare, by deprecating and calling a group that makes money ‘billionaires and millionaires who don’t pay their share.’ I gave 120% of my salary and bonus away last year to charities, as I do most years. I can’t stand the idea of being demagogued, that is put down by a president who has never created any jobs and who doesn’t even understand how the economy works.

“I’m afraid of the president. I have no idea what goofy idea, what crazy, anti-business program this administration will come up. I have no idea. And I have to tell you Jon that every business guy I know in the country is frightened of Barack Obama and the way he thinks.

David Siegel: Anti-Obama email wasn’t a threat to employees

“It was a private memo,” Siegel said.

In the memo, Siegel wrote, “The economy doesn’t currently pose a threat to your job. What does threaten your job however, is another 4 years of the same Presidential administration.”

The email continues, saying, “If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company. Rather than grow this company I will be forced to cut back. This means fewer jobs, less benefits and certainly less opportunity for everyone.”

When asked if Siegel saw how the email could be intimidating to employees, he replied “That’s not so and I didn’t try to intimidate anybody. I have lived through the last four years of the Obama administration. It hasn’t been fun.”

Fedex to cut thousands from workforce

The cuts are part of a plan to boost profits by $1.7 billion by 2016, mainly through intensified cost reductions.

They also come in the wake of the company’s warnings that its business is being hit by the global economic slowdown.

CRUISE LINER EXEC WRITES SCATHING LETTER TO OBAMA OVER NEW REGULATIONS

American Flagship Project challenges President Obama to explain why his Administration has blocked America’s entry into the $40 billion-a-year foreign-dominated cruise sector

Obama blocks thousands of new jobs and billions in tax revenues by new anti-American policy

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A Second Term Will Be Terminal

By: admin
Published: July 11th, 2012

From The American Spectator
By  on 7.11.12

Another four years of Obamanomics and Argentina will be crying for us.

With a second term for Obama, the world-leading America we have known and hoped to leave to our children will be gone. Last Friday’s jobs report confirms that Obama is well on his way to transforming America into a third world country, with declining living standards and perpetual economic stagnation.

Argentina enjoyed the world’s fourth highest per capita GDP in 1929, on par with America at the time. But then the nation lost its way in embracing a leftist, union allied government, which took control of the economy and imposed wildly irresponsible taxes, spending, deficits, and debt. After World War II, the hugely popular Juan Peron came to power and institutionalized the madness. It has been all downhill for Argentina ever since. Do you recognize the pattern?

Today, Argentina ranks 53rd in the world in per capita GDP, according to the International Monetary Fund, 57th in the CIA World Factbook, at a level less than one third that of America. But its national debt at 51% of GDP is actually less than that of the United States under the Obama administration, where we are rocketing towards 100% of GDP by the end of this year, and 200% in 25 years, according to CBO.

The Worst Economic Recovery Since the Great Depression: Confirmed
Last Friday’s jobs report indicated the most commonly cited U3 unemployment rate remains stuck at 8.2%. That makes 41 straight months of unemployment over 8%, which the Joint Economic Committee of Congress confirms is the worst recovery from a recession since the Great Depression almost 75 years ago. The total number of Americans unemployed actually rose over the last 3 months by 76,000, 54 months after the recession started, and 3 years after it was supposedly over. Since the Great Depression, and before this last recession, recessions in America have lasted 10 months on average, with the longest previously lasting 16 months.

Indeed, the last time before Obama that unemployment was even over 8% was December 1983, when Reaganomics was bringing it down from the Keynesian fiasco of the 1970s. It didn’t climb back above that level for 25 years, a generation, which is a measure of the spectacular success of Reaganomics. That success was centrally based on reducing tax rates, which our ignorant Marxist President says was tried but didn’t work.

Moreover, Obama’s June unemployment rate was not much, much higher only because over 7.2 million working people have given up even looking for work as a hopeless waste of time under President Obama, so they are not counted as unemployed in the U3 unemployment rate. Including these workers, who still exist and still do not have jobs, the unemployment rate would be 11%.

Besides the 12.7 million Americans who are counted as unemployed, another 8.2 million were employed part-time for economic reasons. “These individuals were working part-time because their hours had been cut back or because they were unable to find a full-time job,” the Bureau of Labor Statistics (BLS) reported. Another 2.5 million workers were marginally attached to the labor force, as they “wanted and were available for work, and had looked for a job sometime in the prior 12 months,” but “[t]hey were not counted as unemployed because they had not searched for work in the [prior] 4 weeks.”

That leaves the total army of the unemployed and underemployed at 23.4 million Americans. Counting these workers, the BLS reports the U6 unemployment rate as rising to 14.9% in June. If we add in the long-term discouraged workers that the BLS does not even count anymore, the Shadow Government Statistics website reports the total unemployment rate increasing to 22.8% in June.

In contrast, Obama promised us when he first entered office that if his nearly $1 trillion in stimulus spending passed, the unemployment rate would never exceed 8%, and would decline to 5.8% by May of this year, when in reality it was 8.2% and rising that month. The peak of the Obama Presidency came in February 2009, his first month in office, which is the last time he said something correct about the economic recovery, predicting to Matt Lauer on national television, “If I don’t have this done in three years, then this is going to be a one-term proposition.” We are now well past Obama’s own self-imposed deadline.

The unemployment rate for African -Americans actually rose last month to 14.4%, and it has remained at such depression era levels for Obama’s entire Presidency. Hispanics have suffered double digit unemployment throughout Bush’s Presidency as well, at 11% again last month. For teenagers, the rate last month stood at 23.7%. For black teenagers, unemployment rose last month to 39.3%. For Hispanic teenagers, the unemployment rate rose to 31%.

Friday’s labor report further indicated that the jobs picture has only been worsening under Obamanomics. A million more workers were suffering long-term unemployment of 27 weeks or longer in June than at the supposed end of the recession 3 years ago. Moreover, the median length of unemployment had risen to 19.8 weeks in June compared to 17.2 when the recession supposedly ended.

How Stupid Do They Think We Are?
Obama tells us that the 80,000 jobs created last month (25,000 were mere temp jobs) were “a step in the right direction.” A very tiny baby step at best, as the working age population grew by 191,000 in the same month. Moreover, 85,000 went on the disability rolls during the month, fleeing the Obama economy for their only alternative, taxpayer dependency. Another 275,000 applied for disability during the month.

Obama’s chief economic policy advisor Alan Krueger actually boasted that private sector jobs have grown for “28 straight months for a total of 4.4 million payroll jobs during that period.” But at the same point during the Reagan recovery, the economy had created 9.5 million new jobs.

Krueger thinks we are too stupid to know that job growth is the norm and not the exception for the American economy. In the 62 years from the end of World War II in 1945 until 2008, jobs grew in 86% of the months, or 640 out of 744. His statement is just a further example of the Obama administration’s practice of Calculated Deception.

Reagan’s recovery produced job growth in 81 out of its first 82 months, with 20 million new jobs created in those first 7 years alone, increasing the civilian work force at the time by 20%. That grew into 50 million new jobs over the entire Reagan 25 year boom from 1982 to 2007. Compare that to the disgrace of Obamanomics. While Obama tries to claim 4.4 million new jobs created, total jobs today are still half a million less than in January 2009 when he entered office. Even George Bush oversaw 52 consecutive months of job growth, including 8 million new jobs created after his 2003 capital gains and dividends tax rate cuts became effective (which Obama is dedicated to reversing).

Krueger also solemnly told the public, “it is important not to read too much into any one monthly report.” But as documented July 6 by Bryan Preston for PJMedia, the Obama Administration has said the exact same thing for each of the last 30 months. Do ya think 2 ½ years might constitute a trend?

The Disgrace of Obamanomics
Obama’s tragic jobs record reflects the dismal economic growth under his Administration’s perverse economic policies. For all of last year, the economy grew by a paltry real rate of only 1.7%, only about half America’s long-term trend. The average so far this year has been no better.

In sharp contrast, in the second year of Reagan’s recovery, the economy boomed by a real rate of 6.8%, the highest in 50 years. During the first 7 years alone, the economy grew by almost one-third, the equivalent of adding the entire economy of West Germany, the third largest in the world at the time, to the U.S. economy. Real per capita disposable income increased by 18% from 1982 to 1989, meaning the American standard of living increased by almost 20%. The poverty rate, which had started increasing during the Carter years, declined every year from 1984 to 1989, dropping by one-sixth from its peak.

But President Obama, following the exact opposite of the policies of Reagan in every detail, is on exactly the opposite course. The Census Bureau reports falling real wages under Obama, kicking median family income back over 10 years. Census also reports more Americans in poverty today than at any time in the more than 50 years that Census has been tracking poverty. That is why Obama can also boast an all-time record number of Americans on food stamps, which is why Newt Gingrich has rightly labeled him “the food stamp President.”

Obama cannot explain away this disgrace of Obamanomics by arguing that the economy has performed so poorly under his Administration because the recession he inherited from Bush was so bad. That is exactly what he is arguing when he says “there are no quick fixes to the problems we face that were more than a decade in the making.” But the American historical experience is that the worse the recession, the stronger the recovery, as the American economy snaps back to its world-leading, long-term, economic growth trend line. Based on this historical record, we should be enjoying the third year of a raging economic recovery boom right now.

This historical experience was reflected by the surging Reagan recovery boom from the deep 1981-1982 recession. And it is why Obama was confident enough to tell Matt Lauer and the nation in 2009 that if he doesn’t have the economy hopping after 3 years, he is going to be a one-term President. If anything, because of the severity of the recession, Obama should have been blessed with an even more booming recovery than Reagan. But the dismal economic performance we have suffered instead, with no real recovery from the steep 2008-2009 recession at all, is the disgrace of Obamanomics.

The Coming Crash of 2013
For the first time on Monday, Obama indicated that the Bush tax cuts may not be made permanent for those making less than $200,000 a year. For why would he otherwise propose only a one-year extension of those tax cuts? If he terminates those tax cuts after one year, that would constitute yet another tax increase on the middle class, besides Obamacare.

This partial one-year extension of the Bush tax cuts will not do anything to promote the economy. Temporary tax relief does not work in any event to advance economic growth, because it is discounted by investors, consumers, and businesses as only a passing fad. But extending the Bush tax cuts for those making less than $200,000 per year would not be a tax cut from the current rates, but only an extension of the same rates that have been in force for 10 years or more. So there is no boost to the economy from that. Note that these are the tax cuts adopted by Bush and the Republicans for those making less than $200,000 per year, contrary to Obama’s claims that Bush and the Republicans only cut taxes for “the rich,” which are only despicable, manipulative lies so dishonest that they should disqualify Obama from office.

Indeed, instead of adopting tax cuts promoting the economy, Obama’s tax proposal on Monday would terminate the Bush tax cuts for those making over $200,000. So it would only trash the economy, because it would involve a huge tax increase on the nation’s small businesses, job creators, and investors. Counting the tax increases of Obamacare that will also go into effect next year under current law, the top two income tax rates would increase by nearly 20%, the capital gains tax rate would increase by nearly 60%, the tax on dividends would nearly triple, and the death tax would rise from the grave with a 55% top rate. While Obama says only 3% of small businesses would be affected, the tax increases would apply to close to two-thirds of small business income, which is the foundation for most jobs.

This is all on top of the corporate tax rate which under President Obama is the highest in the industrialized world at nearly 40%, counting state corporate rates on average. Even Communist China offers a 25% corporate rate. The social welfare states of the European Union are even lower on average, with formerly socialist Canada now featuring a 15% corporate rate, and economic powerhouse Germany not much higher.

American businesses are uncompetitive in the global economy with this tax burden. But under President Obama, there is no relief in sight. Instead, he has been barnstorming the country for the last two years calling for still more tax increases. Under his so-called Buffett Rule, which would double the capital gains tax, America would suffer the fourth-highest capital gains tax rate in the industrialized world, besides the world’s highest corporate tax rate.

When you add up all those multiple tax rate increases on top of Obama’s exploding regulatory costs, the result will be to push the economy back into recession next year, with unemployment soaring back over double digits, and the deficit soaring to new all time records over $2 trillion, the highest in world history. It is working people who will be hurt the most, because they are the ones who will lose the jobs they need for their basic standard of living. Even those with jobs will suffer further declining real wages and incomes because of the shredded demand for labor.

There is no economic theory under which increasing tax rates promotes economic growth and recovery, particularly rate increases on job creators and investors. Even under Keynesian economics, such tax increases are contractionary. Indeed, even Karl Marx would tell you that such tax rate increases would bring a market economy down, not up.

Obama falsely claims he is only restoring the Clinton era tax rates. But Obama is well beyond that now, because he is imposing the Obamacare tax increases next year as well, and he has been proposing still further tax increases. The top marginal income tax rates that drive the economy would consequently soar by well over 30%, probably close to 40% or more.

Obama says we tried the Bush tax cuts for “the rich” and they didn’t work. So let’s review how exactly they did work out. Bush cut the top income tax rate by 11.6%, from 39.6% to 35%, and the second highest rate by about 8%, from 36% to 33%. But he cut the lower rates by higher percentages, including slashing the bottom rate by 33%, from 15% to 10%. Then in 2003, he cut the tax rates on capital, reducing the capital gains tax rate by 25% from 20% to 15%, and the tax rate on corporate dividends to 15% as well.

These tax rate cuts first quickly ended the 2001 recession, despite the contractionary economic impacts of 9/11, and the economy continued to grow for another 73 months. After the rate cuts were all fully implemented in 2003, the economy created 7.8 million new jobs over the next 4 years and the unemployment rate fell from over 6% to 4.4%. Real economic growth over the next 3 years doubled from the average for the prior 3 years, to 3.5%.

In response to the rate cuts, business investment spending, which had declined for 9 straight quarters, reversed and increased 6.7% per quarter. That is where the jobs came from. Manufacturing output soared to its highest level in 20 years. The stock market revived, creating almost $7 trillion in new shareholder wealth. From 2003 to 2007, the S&P 500 almost doubled. Capital gains tax revenues had doubledby 2005, despite the 25% rate cut!

Consequently, the Bush tax cuts helped to extend the Reagan boom for 25 years, until 2008. By then, the government had induced the financial crisis, through regulations looting the banks for subprime mortgages demanded in the name of affordable housing for the poor and minorities, and through the Fed’s cheap dollar monetary policies, which began the restoration of perverse Keynesian economics. Punishment for the results is now long overdue for the advocates of those policies.

About the Author

Peter Ferrara is Director of Entitlement and Budget Policy for the Heartland Institute and General Counsel of the American Civil Rights Union. He served in the White House Office of Policy Development under President Reagan, and as Associate Deputy Attorney General of the United States under the first President Bush. He is the author of America’s Ticking Bankruptcy Bomb (HarperCollins).

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Government wants more people on food stamps

By: admin
Published: June 26th, 2012

America. Land of the free(loaders) and home of the brave.

From CNN Money
By Tami Luhby @CNNMoney
June 25, 2012: 5:17 AM ET

More than one in seven Americans are on food stamps, but the federal government wants even more people to sign up for the safety net program.

The U.S. Department of Agriculture has been running radio ads for the past four months encouraging those eligible to enroll. The campaign is targeted at the elderly, working poor, the unemployed and Hispanics.

The department is spending between $2.5 million and $3 million on paid spots, and free public service announcements are also airing. The campaign can be heard in California, Texas, North Carolina, South Carolina, Ohio, and the New York metro area.

“Research has shown that many people — particularly underserved seniors, working poor, and legal immigrants — do not understand the requirements of the program,” said Kevin Concannon, a USDA under secretary.

read the rest here

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Daily Readings 06-22-2012

By: admin
Published: June 22nd, 2012

$5.7 Billion in Taxpayer Money Spent So Far to Encourage Use of Electronic Health Records

The Obama administration has paid more than $5.7 billion in the past year to health professionals to encourage the use of electronic health records, the federal Centers for Medicare & Medicaid Services (CMS) announced on Tuesday.

Prison Rape Regulations to Cost $7 Billion

“Despite an admirable goal, this ‘landmark rule’ imposes a costly, complicated regulatory framework on states currently battling recurring budget deficits, offers little assurance of success, and fails to explain this new burden to the states as required by the Unfunded Mandate Reform Act,” the AAF analysis states.

$11 Billion in Green Grants Produces Few Jobs, House Report Says 

While Energy Secretary Steven Chu said the grants “created tens of thousands of jobs,” the government’s own National Renewal Energy Laboratory estimates it created 910 direct jobs.

The House report criticized even those numbers, saying: “The job creation numbers that exist for Section 1603 are based on models, not actual data from completed projects. Neither Treasury nor DOE have turned over actual jobs data on the Section 1603 grants program to the committee.”

The program was created through the 2009 American Recovery and Reinvestment Act, better known as the stimulus. Of the $22.6 billion allocated, just under half has been spent. The rest is set to be spent by the end of fiscal year 2017.

Food Stamp Fiasco

The Senate refuses to cut $20 billion out of $770 billion

Job Openings Report Shows Market Is…Really, Really Bad - Gee…you don’t say…

The Job Openings and Labor Turnover Survey, or JOLTS, indicated 3.4 million job openings at the end of April, an 8 percent decline from the previous month.

The pace of total hiring also slowed, with 160,000 fewer jobs filled during the month.

Moreover, the drop showed weakness across the employment spectrum, with manufacturing seeing 62,000 fewer job openings and construction dropping by 2,000.

The Big Downgrade: Federal Reserve slashes 2012 economic forecast

Economists across Wall Street have been cutting their 2012 economic forecasts, and now the Federal Reserve has gotten in the act

Taxmageddon Is Slowing the Economy Now

The uncertainty caused by Taxmageddon—the one-year $494 billion tax increase that looms on January 1, 2013—is strong enough to slow the economy months before it actually strikes. In fact, it is already doing so.

‘U.S. Per Person Debt to Increase 7 Times Faster than Italian Debt’

Top doctor’s chilling claim: The NHS kills off 130,000 elderly patients every year

  • Professor says doctors use ‘death pathway’ to euthenasia of the elderly
  • Treatment on average brings a patient to death in 33 hours
  • Around 29 per cent of patients that die in hospital are on controversial ‘care pathway’

How Long Do Canadians Wait for Healthcare?

According to a new study by Canada’s Fraser Institute, surgical wait lists are costing the nation about $1 billion each year in lost productivity. The average Canadian can now expect to wait 9.5 weeks for treatment with a medical specialist, this number up from 9.3 weeks last year.

Is President Obama A Pathological Liar?

In both his autobiographies, Obama paints a false portrait of a still-racist America and West, where he, his friends and relatives are victimized by that racism. Conveniently, his remedy is redistributive justice through bigger government.

3 Fallacies in Obama’s Public-Sector Stimulus Strategy

Paying people to do busy work won’t revive the U.S. economy

President Obama’s Perfect Plan For The Economic Decline Of America

Under President Obama’s plan, on January 1 of next year the top tax rates of virtually every major federal tax will increase, as already enacted under current law. That is because the tax increases of Obamacare would go into effect, and the Bush tax cuts would expire, which Obama refuses to renew for singles making over $200,000 a year, and couples making over $250,000. The English translation of that target for the tax increases is the nation’s small businesses, job creators and investors.

The Costliest Regulation You’ve Never Heard Of

A proposed regulation could cost the U.S. banking system hundreds of billions of dollars, in turn costing our economy billions of dollars, and achieving no discernible benefits for banks, depositors, taxpayers, or the U.S. economy.

IMF piles pressure on Germany to help struggling eurozone banks directly

IMF managing director Christine Lagarde warned that the euro is under “acute stress” and urged eurozone leaders to channel aid directly to struggling banks rather than via governments. She also called on the European Central Bank (ECB) to cut interest rates.

14 reasons to worry about Italy

There are many glaring risks about Italy’s current debt situation and its dire growth outlook. But the biggest reason to worry about Italy is that it’s too big to fail.

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Daily Readings 06-19-2012

By: admin
Published: June 19th, 2012

State pension shortfall ballooned in 2010

Recession-plagued states diverted scarce money away from pensions to pay for more immediate concerns, leaving a $757 billion hole in the retirement fundscovering millions of public employees, according to a study released Monday.

Doggy glitter gets a share of farm bill billions

What does sparkly styling spray for dogs have to do with the 2012 farm bill?

It’s among the thousands of products U.S. taxpayers are subsidizing through little-known programs that have been embedded in the farm legislation for decades and that lawmakers are now fighting to extinguish.

Everything’s Wrong With the Farm Bill

It’s not that the emperor has no clothes, it’s that the taxpayers are paying for the emperor’s Armani suit. This is the case with the current legislative action with the farm bill.

Let’s start with the name of the legislation: the “farm bill.” How many people outside of Washington, D.C. realize that 73 percent of the spending in the $969 billion “farm bill” is actually for food stamps? The “food stamp president” does. That’s why the White House says it is “critical” to pass the farm bill.

No Respect For POTUS: Putin Spent Two Hours Speaking With Obama About Syria and  “Lecturing” Him About Other Failed “Transitions of Power” Around the World - Here you go…a tyrant ex KGB vs a tyrant ex community organizer

Ewww, it’s P-U-tin!

A Cold War-like chill blew over a meeting between President Obama and Russian President Vladimir Putin yesterday.

The two presidents talked one-on-one for two hours at a resort in Los Cabos, Mexico, during the G-20 Summit.

But from the body language and stern looks on their faces, there weren’t signs of the “reset” the Obama administration sought in US-Russia relations.

Footage shows Putin, a former Soviet spy, giving Obama an icy, KGB stare.

CBS: More Troubles At Obama Stimulus Green Energy Company - MADE IN USA!

Greece’s ailing economy grinds to a halt

“It’s a terrible situation,” Mr Stamos says. “Everything is frozen. The economy is dead, and no one is paying anyone.”

Debt crisis: Spain and Italy to be bailed out in £600bn deal

European leaders are poised to announce a £600 billion deal to bail out Spain and Italy, it emerged at the G20 summit on Tuesday night.

Fiscal cliff is closer than you think

The fiscal cliff may be six months away, but it is already affecting the United States economy.

Forget Jamie Dimon — Congress needs to look in the mirror

Thanks to questions from South Carolina Republican Sen. Jim DeMint, and others, who shifted the subject to big-picture topics and flawed government policies such as the Dodd-Frank financial “reform,” the hearing is actually a model for Tuesday’s event and for future economic hearings.

DeMint ignited the wrath of the liberal punditocracy by daring to compare the recently reported $2 billion trading loss at Dimon’s otherwise profitable firm to the billions – or trillions – that Congress squanders all the time.

Grim job prospects could scar today’s college graduates - What is your college degree worth? Not much…

Megan Silsby earned a biology degree last month from Virginia Tech, and she considers herself a full-time worker even though she hasn’t landed a job in this rough economy.

Every day at 8 a.m., Silsby, 22, heads to a basement office in her parents’ home in Chantilly, Va. All day, she searches the Internet for openings, applies for jobs, follows up with phone calls. She has applied for more than 80 jobs, with no luck so far.

Woman Who Couldn’t Be Intimidated By Citigroup Wins $31 Million - Jobs – That’s how it was back in the 80′s….no college degrees, just determination on the job… 

Sherry Hunt never expected to be a senior manager at a Wall Street bank. She was a country girl, raised in rural Michigan by a dad who taught her to fish and a mom who showed her how to find wild mushrooms. She listened to Marty Robbins and Buck Owens on the radio and came to believe that God has a bigger plan, that everything happens for a reason.

She got married at 16 and didn’t go to college. After she had her first child at 17, she needed a job. A friend helped her find one in 1975, processing home loans at a small bank in Alaska. Over the next 30 years, Hunt moved up the ladder to mortgage-banking positions in Indiana, Minnesota and Missouri, Bloomberg Markets magazine reports in its July issue.

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David Stockman: Repeat of the 2008 crisis is headed our way

By: admin
Published: June 12th, 2012


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