Barack Obama finally embraces Supply Side Economics – but adds just a wee hint of redistribution
Last week the Bureau of Labor Statistics released a report that said that the labor force participation rate (LFPR) dropped to 63.6%, the lowest rate since Jimmy Carter was in office. Essentially that means that of the population of 16 year and older, 37.4% of them decided not to work or not to seek work. That’s 88.8 million people! To put that in perspective, when | Read More »
New Obama Normal: Poverty, Unemployment, Big Biz Stocks up
Judged by the results of their policies, Democrats are the party of Big Business and don’t care about the poor and middle class. Except for the deleterious effect of their economic, social and national security policies, nothing enrages me more about Democrats (elected, media and grassroots) than their claims that conservatives, tea partiers and Republicans generally are racist, sexist, bigot, homophobes that care not for | Read More »
PowerTalk – The Fiscal Cliff, Debt Ceiling, The Economy & The Mood On The Floor of the NYSE
This week’s PowerTalk interview is with Keith Bliss, Senior Vice President at Cuttone and Company, one of the largest floor brokers on the New York Stock Exchange (NYSE). Keith is an old friend of mine, and he shares what he sees from the trading floor these days. He starts the conversation off by saying 2013 is shaping up to deliver a lot more of the | Read More »
, debt ceiling
, fiscal cliff
, Goldman Sachs
, interest rates
How Long Before We Reach 6.5% Unemployment?
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the nomination of Jack Lew to be the next Treasury Secretary, dire projections about the length of time until we reach the magic 6.5% unemployment and what it will take to get us there.
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A Year of Stagnation: The Final Jobs Report of 2012
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the December unemployment report, the stagnating economy of 2012 and what Fed minutes predict for 2013.
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The House Must Act Now
Well, we really stuck it to the rich at 1:39 in the morning. Whew, now we can breathe a sigh of relief. The 40 Republicans who voted for Obama’s stimulus bill had to swallow hard voting for over $100 billion in new spending just in 2013, but at least those of us who are not super rich won’t see our taxes increase this year. Oh | Read More »
Need a job? Go. To. North. Dakota.
After reading this plaintive essay by the New York Times about young voters discovering what happens when they vote against their class interests by voting Democratic (short version: they end up on the street), my first reaction was simply to shrug. But that’s not nice. What is nice is offering these people actual advice, because passages like this: Two months ago, Mr. Tano gave up | Read More »
Charles Krauthammer on Michigan unions: The “moral calculus” of higher wages combined with higher unemployment
Charles Krauthammer: But there is another factor at play: having a job in the first place. In right-to-work states, the average wage is about 10 percent lower. But in right-to-work states, unemployment also is about 10 percent lower. Higher wages or lower unemployment? It is a wrenching choice. Although, you would think that liberals would be more inclined to spread the wealth — i.e., the | Read More »
Tags: Charles Krauthammer
, Rick Snyder
, right to work
, United Auto Workers
The Fed Ties Printing Policy to Unemployment Rate
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the Fed’s decision to tie its money printing policy to unemployment, the long-term effect on the market and the Fed’s outlook for the economy.
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President Obama’s deleterious effect on America’s work ethic.
The United States was built on the backs of hard working people. From pilgrims who survived an ocean’s journey and founded a colony at Plymouth to slaves who endured the blistering sun as they harvested cotton to settlers who braved temperatures, terrain and Indians to fulfill a Manifest Destiny, the United States was the product of people who worked like their lives depended on it. | Read More »
Recapping Last Week’s Economic Data; Launching PowerTalk
The first five trading days of December delivered a mixed result for the major stock indices with the Dow Jones Industrial Average being the clear winner (up 1%), the S&P 500 essentially unchanged and the Nasdaq Composite Index down 1.1%. As with the prior week, one of the key drags on the Nasdaq has been Apple, Inc. (AAPL), whose shares dropped nearly 9% last week. | Read More »
, Best Buy
, bureau of labor statistics
, Department of Labor
, Dow Jones Industrial Average
, fiscal cliff
, Mobile Payments
, s&p 500
, Wall Street
Why a Falling Birthrate is Terrible News for an Already Hurting Economy
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss the November jobs report, America’s falling birthrate in this recession and why it’s terrible news for our economy.
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Unemployment on the Uptick Again?
Tomorrow is the first Friday of the month — when unemployment numbers get released. This morning, Gallup released the results of its survey. It announced that, U.S. unemployment, as measured by Gallup without seasonal adjustment, was 7.8% for the month of November, up significantly from 7.0% for October. Gallup’s seasonally adjusted unemployment rate is 8.3%, nearly a one-point increase over October’s rate. . The article | Read More »
Let Them Eat Cake: As Hostess Workers Get Hurt, Bakery Union Bosses (& Their Kids) Do Well
Eighteen thousand Americans are now without jobs to put bread on their tables (pun intended). Yet, Frank Hurt will not be hurt in the least by the strike he led his members into taking, or the resulting unemployment of both his members, as well as other Hostess employees.
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Tags: Bakery Confectionery & Tobacco Workers
, Hostess Bankruptcy
, union bosses
, union hypocrisy
, Union Hypocrites
, union strike
Consequential Elections and Their Consequences
Elections DO have consequences. If you doubt that, take a look at announcements made in the days since Barack Obama won (?) his second term as President of the United States. Big companies like Walmart, Papa Johns and Denny’s are complaining loudly, but not nearly as vociferously as their employees will be when they realize their paychecks are shrinking – if they keep their | Read More »