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The American Economy


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20-Apr-2011, 06:15 PM #1
The American Economy
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This is the second column in a series responding to Stephen Moore’s central assaults on regulation and the prosecution of the elite white-collar criminals who cause our recurrent, intensifying financial crises. Last week’s column addressed his claim in a recent Wall Street Journal column that all government employees, including the regulatory cops on the beat, are “takers” destroying America.
http://www.ritholtz.com/blog/2011/04...Big+Picture%29
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22-Apr-2011, 11:25 PM #2
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Very interesting set of charts looking at Consumer Prices from The Chart Store. Over the course of 12 post WW2 business cycles, the following shows the periods of Inflation.

Two things worth noting: The current cycle versus the composite of all prior cycles is relatively modest. This suggest that inflation is currently tame.

However, as the same chart shows, it has begin to move higher — and that raises concerns of increased inflationary pressures in the not-too-distant future.
http://www.ritholtz.com/blog/2011/04...Big+Picture%29
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23-Apr-2011, 01:02 PM #3
Jon Ward
jon.ward@huffingtonpost.com
Conservative Strategists Warn GOP About Economic Risks Of Pushing Debt Ceiling Debate Too Far
First Posted: 04/22/11 07:25 PM ET Updated: 04/22/11 11:15 PM ET

Conservative strategists are warning that the GOP should not push the debt ceiling debate too close to the breaking point.

“If there is a vote on raising the debt ceiling and it fails, there will be a significant market reaction,” said Tony Fratto, a former Treasury and White House official in the Bush administration. “Investors already believe that Congress doesn’t understand the financial markets. A failure to raise the debt ceiling will confirm this to them."

http://www.huffingtonpost.com/2011/0..._n_852718.html
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26-Apr-2011, 01:09 PM #4
Affordable rental housing scarce in U.S., study finds
By Dina ElBoghdady, Tuesday, April 26, 12:02 AM

The share of renters who spend more than half their income on housing is at its highest level in half a century and it’s no longer just low-income tenants who are feeling the pain, according to a Harvard University study scheduled for release Tuesday.

About 26 percent of renters — or 10.1 million people — spent more than half their pre-tax household income on rent and utilities in 2009. That’s because incomes slipped dramatically from their peak at the start of the decade even as rents kept rising.

http://www.washingtonpost.com/busine...ilE_story.html
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28-Apr-2011, 10:24 PM #5
Posted on Thursday, April 28, 2011
Economy isn't as bad as new data make it look, analysts say
By Kevin G. hall | McClatchy Newspapers
WASHINGTON — Relax, Americans, the economic outlook isn't as bad as Thursday's new data made it appear.

Quote:
Analysts remained confident that the U.S. economy will continue to grow despite the data showing a sharp slowdown during the first three months of the year, which raised concerns in some quarters that the fragile recovery may be sputtering back into weakness and rising unemployment.
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A dip in government defense spending, bad winter weather and other factors that slowed first-quarter growth are unlikely to repeat, Wyss said, adding that, "We still think we'll be back in the 3 percent to 3.5 percent range for the rest of the year."
http://www.mcclatchydc.com/2011/04/2...rply-from.html
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29-Apr-2011, 12:00 PM #6
The visible hand.

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The recent banking crisis represented a missed opportunity for the U.S. government to put financial markets on a firmer foundation and prevent future meltdowns, former New York governor Eliot Spitzer asserted in a talk at MIT on Tuesday.
-- Tom
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30-Apr-2011, 11:44 PM #7
Dan Froomkin
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Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few
First Posted: 04/29/11 08:30 PM ET Updated: 04/30/11 02:51 PM ET

Quote:
The next time you're gritting your teeth as you fill your tank with $4 gas, here's something to consider: Your pain is their gain.

The last of the Big Five oil companies announced first-quarter earnings Friday, so the totals are in. Between the five of them, ExxonMobil, BP, Shell, Chevron, and ConocoPhillips made $34 billion in profits in the first three months of 2011 -- up 42 percent from a year ago.
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Why is the price so high? Part of it is increased demand and geopolitical worries. But no less an authority on the matter than Goldman Sachs acknowledged earlier this month that speculation is at least partially responsible, driving oil prices up faster and higher than supply and demand could possibly explain.

That means the people who are betting on oil prices are actually making the price of oil go up.
http://www.huffingtonpost.com/2011/0..._n_855673.html
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01-May-2011, 10:06 AM #8
What's wrong with America's economy?.

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Its politicians are failing to tackle the country’s real problems. Believe it or not, they could learn from Europe
-- Tom
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01-May-2011, 10:56 AM #9
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Originally Posted by poochee View Post
Dan Froomkin
froomkin@huffingtonpost.com
Your Pain, Their Gain: How High Gas Prices Impoverish The Many While Enriching The Few
First Posted: 04/29/11 08:30 PM ET Updated: 04/30/11 02:51 PM ET

http://www.huffingtonpost.com/2011/0..._n_855673.html
From your article:

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Why is the price so high? Part of it is increased demand and geopolitical worries
.

Fabrications of an infertile mind - demand may be up in some areas, but is offset by less in others. The geopolitical uprisings have put a very small dent in supply - nothing to justify the current increase in price. It's all speculation and greed - and the world is giving the crooks a bye as we are once again being ripped off.
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01-May-2011, 11:15 AM #10
Increasing taxes on oil companies that can increase our own production is not a bright idea as that would only hurt exploration efforts .
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01-May-2011, 11:25 AM #11
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Originally Posted by Wino View Post
From your article:

Fabrications of an infertile mind - demand may be up in some areas, but is offset by less in others. The geopolitical uprisings have put a very small dent in supply - nothing to justify the current increase in price. It's all speculation and greed - and the world is giving the crooks a bye as we are once again being ripped off.
Yep!
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01-May-2011, 11:29 AM #12
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Originally Posted by Littlefield View Post
Increasing taxes on oil companies that can increase our own production is not a bright idea as that would only hurt exploration efforts .
That may be true at $30 a barrel - at today's prices giving big oil tax breaks is about as stupid as the Bush tax cut incentives that were to create jobs and failed miserably . They (Big Oil) don't need our money as an incentive to drill. Not to mention drilling more isn't going to affect prices one iota - there is no shortage of crude - now or for the distant future - except those fabricated by man.
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01-May-2011, 11:39 AM #13
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Originally Posted by Wino View Post
That may be true at $30 a barrel - at today's prices giving big oil tax breaks is about as stupid as the Bush tax cut incentives that were to create jobs and failed miserably . They (Big Oil) don't need our money as an incentive to drill. Not to mention drilling more isn't going to affect prices one iota - there is no shortage of crude - now or for the distant future - except those fabricated by man.
Maybe not the big companies as much but the smaller ones will suffer from the lack of tax breaks.
By the way the big banks are more to blame for higher prices in gas to the US consumer then speculators.
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01-May-2011, 11:52 AM #14
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Originally Posted by Littlefield View Post
Maybe not the big companies as much but the smaller ones will suffer from the lack of tax breaks.
By the way the big banks are more to blame for higher prices in gas to the US consumer then speculators.
Small independents don't need our money either. They can gamble just like any other business and their losses or gains are either deductible or taxable. If it's the big banks doing the speculation or supporting those that do or doing their best to devalue the US$ I might agree, but I'd say it's Wall Street and Big Oil supporting the speculation.

Any tax breaks or incentives should be given to the refining end, not exploration.
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01-May-2011, 12:11 PM #15
Tied with also the big central world banks and QE2 since dollar based trading for oil .Also ,add the unrest in the Middle East and you have the fear of the future that drives prices up even more.
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