Economy

Green jobs to save the American economy?  If you have listened to the various politicos on the left end of the spectrum, especially before and after the passage of the $787-billion stimulus package earlier, you would think that is the cure-all. But so far it isn't working and there are other fundamental problems that lie ahead according to some energy market analysts, like much higher oil…

Yesterday, Government/General Motors announced changes in its financial management team. Chris Liddell, who himself just started at GM in January, brought on a new VP to be involved with its pension investments. More interestingly, he hired a new VP and Treasurer with an interesting background (bold is mine): During his 11 years at Morgan Stanley (head of Industrials Investment Banking), (Daniel…

So we have a health care reform entitlement now, along with various unfunded liabilities, courtesy of the federal government. The next question is - how are we going to pay for all of it? Last week following the passage of health care legislation, syndicated columnist Charles Krauthammer predicted a value-added tax (or VAT) could be in the works, which is a consumption tax that is placed on a…

With March unemployment data to be released April 2, some are anticipating what potentially lower jobless numbers will all mean for the financial markets and the economy as a whole. However, that data will come with the caveat that it will be misleading because it will include temporary jobs driven by hiring for the 2010 census. On CNBC's March 29 "Squawk Box," CME floor reporter Rick Santelli…

Did you know that the Obama administration owns stock in beleaguered financial giant Citigroup NOT the taxpayers?You might have gotten that impression from a Washington Post article published Saturday.Take a look at the second paragraph of David Cho's piece on speculation that there's an imminent stock transaction about to transpire involving Citigroup and the federal government (h/t NBer…

After cheerleading and campaigning on the issue for months, the network news media gleefully reported the signing of the $938 billion monumental health care "reform" bill on March 23. At the signing, President Barack Obama emphasized "tax credits" in the bill to help roughly "4 million small-business men and women, to help them cover the cost of insurance for their employees." The…

Remember when it was the liberals that considered the potential of a value added tax or VAT in the United States? More and more, conservatives are starting to express their concerns about it becoming a reality.  The VAT is a consumption tax that is placed on a product whenever value is added at a stage of production and at final sale. For example, as Investopedia.com explains, "When a television…

Sometimes, certain claims made by establishment media reporters or people who are quoted don't pass the smell test. Then, when you dig in, to borrow a phrase from Michael Savage, the stench makes you clench. Such is the case with a front-page story ("Number of People Living on New York Streets Soars") that went up online at the New York Times late Friday, and appeared in its Saturday print…

Syndicated columnist Charles Krauthammer gave a very ominous prognosis of health care in the United States, assuming House Democrats have finally mustered up votes to pass particular legislation. On a special broadcast of the Fox News Channel's "Special Report with Bret Baier" on March 21, Krauthammer announced upon passage of health care reform legislation in the House of Representatives, we…

Following up on a post earlier today (at NewsBusters; at BizzyBlog) -- a 16 year-old in southern New Jersey was arrested and charged with "harassment and bias intimidation" for getting onto an area Wal-Mart store's intercom and saying, "Attention, Walmart customers: All black people, leave the store now." Though the company had told the local press Friday evening that it believe that a non-…

Time magazine’s Barbara Kiviat made a shocking discovery: long lasting jobs are created by the private sector and not the government. The cover story for next week, “The Workforce: Where Will Jobs Come From?” described how government funded stimulus only creates short term demand, but credits private sector innovation as the true long term solution to unemployment. Kiviat got straight to the…

While a vote on health care reform legislation appears to be imminent, should it pass it could have broader economic implications, even if the bill itself won't take effect for some time. As CNBC "Mad Money" host Jim Cramer predicted - if it passes, get ready to see a sell-off on Wall Street. Cramer appeared on CNBC's March 18 "The Kudlow Report," with his former broadcast partner Larry Kudlow.…

It's a topic that would probably make the average individual's eyes glaze over, but will have a profound impact on the economy - for better or worse. The topic - financial regulation reform. With Senate Banking Chairman Sen. Chris Dodd, D-Conn., setting his proposal out for the public, the take away on the reporting from two of the country's major newspapers - The New York Times and Wall…

The Associated Press's timing couldn't have been better for those who still want to pretend that Social Security is really not in serious trouble. Stephen Ohlemacher's item ("Social Security to start cashing Uncle Sam's IOUs") originally appeared on Sunday, in the midst of most of the major college basketball conference tournament championships, then followed by the evening's announcement of the…