Election Results Hammer Small Business Optimism
The last survey of small business optimism, released just days after the presidential election didn’t really give business owners much time to comprehend what the outcome meant for them. Tuesday’s survey showed that small business owners, a month after, were fully factoring in another four years of the Obama administration. … [Read more...]
The Startling Story of American Labor
Every month for the last few years Americans—especially politicians—have been keeping a close eye on the employment report to see how many jobs were created, and what the unemployment rate would be each month. Once the report is released, it’s off to the races, politicking and nitpicking the headline numbers to throw mud at any opponent. But the most startling trend emerging is revealed deeper in the report. … [Read more...]
Fiscal Cliff Fix: Americans Still in La-la land on Fiscal Crisis
In the video below, CNBC’s Steve Leisman explains the results of a recent CNBC survey on the fiscal cliff. The survey indicates that Americans are still living in la-la land when it comes to the nation’s fiscal crisis. To solve the fiscal crisis, a wide majority of Americans favor raising taxes on the “rich”, which shouldn’t come as a surprise. If Americans know that somebody has to get punched in the gut, most will say better him than me. Of course even if we do raise taxes on the “rich” it will only reduce the deficit by about $100 billion. That isn’t going to make much of a dent in our $1 … [Read more...]
Your Ever Shrinking Income
On Friday the BEA released the October numbers for American’s income growth. After adjusting for inflation, Americans chalked up their fourth month in a row of diminishing incomes. That is the most consecutive negative months since 2009. Real incomes fell by 0.06% in the month. The effect of the income drop acts like a $369 tax on the median wage earning American by the end of the year. Americans are being pressed between a vice, with a weak dollar policy promoting Federal Reserve on one side, and a fiscal policy on the other side that is stifling economic growth with uncertainty and … [Read more...]
VIDEO: Grant: Central Banks Manipulating Market Values
Nov. 29 (Bloomberg) -- Jim Grant, Editor of Grant's Interest Rate Observer, discusses market manipulation by global central banks. He speaks on Bloomberg Television's "Bloomberg Surveillance." … [Read more...]
VIDEO: ECRI’s Achuthan Defends Call for U.S. Recession
Nov. 29 (Bloomberg) -- Lakshman Achuthan, chief operations officer of the Economic Cycle Research Institute, talks about the U.S. economy. Achuthan speaks with Tom Keene and Sara Eisen on Bloomberg Television's "Surveillance." (Source: Bloomberg) … [Read more...]
VIDEO: Stephen Roach : Quantitative Easing a Time Bomb
Reuters: Economist Stephen Roach worries that the Federal Reserve's approach to stimulating the economy will lead to a bubble. Roach also discussed with former FDIC Chair Sheila Bair and other panelists at Rand Corporation's Politics Aside conference in Santa Monica, Calif., whether the government will resolve the fiscal cliff. (November 23, 2012) … [Read more...]
VIX Index Signals Complacency
In this morning’s Wall Street Journal, Steven Russolillo and Kaitlyn Kiernan offer two perspectives on the low levels of volatility being telegraphed by the VIX Index. Some investors interpret the benign numbers as evidence that worries about gridlock in Washington and the slowing global economy are overblown. But others worry that the low readings are a sign of complacency, and that the potential for further declines in response to unexpected bad news isn't reflected in stock prices, even after the Dow Jones Industrial Average's decline of 4.4% since Oct. 5. You can put us in the category … [Read more...]
Americans: What do they Know about the Fiscal Cliff? Not Much it Turns Out
CNBC's Jane Wells goes to Fisherman's Wharf in San Francisco to find out whether Americans even know what the fiscal cliff really is … [Read more...]
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