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The American Economy

Discussion in 'Controversial Topics' started by eggplant43, Apr 20, 2011.

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  1. lotuseclat79

    lotuseclat79

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  2. poochee

    poochee

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    William Alden
    [email protected]
    Laden's Death Gives Markets Boost Of Optimism, Eases Fear Of Recession (UPDATE)
    First Posted: 05/ 2/11 08:08 AM ET Updated: 05/ 2/11 11:06 AM ET

    Osama bin Laden's death has decreased the risk of doing business around the globe and especially in the Middle East, providing a needed boost to the broader economic recovery, economists said Monday.

    The leader of the al Qaeda terrorist group is dead, President Barack Obama announced from Washington late Sunday. The news has been a tonic for financial markets: the price of a barrel of oil fell; Japanese stocks rose to a post-earthquake high and U.S. stock futures surged. We live in a new and potentially less dangerous world, headlines are declaring. It's a change that promises more investment in Middle East countries, cheaper transportation costs and less risk the U.S. economy will tip back into recession.

    http://www.huffingtonpost.com/2011/...il&utm_content=NewsEntry&utm_term=Daily Brief
     
  3. poochee

    poochee

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    William Alden
    [email protected]
    Oil Prices Plunge In Record Sell-Off
    First Posted: 05/ 5/11 04:36 PM ET Updated: 05/ 5/11 06:24 PM ET

    http://www.huffingtonpost.com/2011/...l&utm_source=Alert-business&utm_content=Title
     
  4. eggplant43

    eggplant43 Thread Starter

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    http://www.ritholtz.com/blog/2011/0...ampaign=Feed:+TheBigPicture+(The+Big+Picture)
     
  5. poochee

    poochee

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    CEO Pay Now Exceeds Pre-Recession Levels: Equilar
    By RACHEL BECK 05/ 6/11 07:01 AM ET

    NEW YORK -- In the boardroom, it's as if the Great Recession never happened.

    CEOs at the nation's largest companies were paid better last year than they were in 2007, when the economy was booming, the stock market set a record high and unemployment was roughly half what it is today.

    The typical pay package for the head of a company in the Standard & Poor's 500 was $9 million in 2010, according to an analysis by The Associated Press using data provided by Equilar, an executive compensation research firm. That was 24 percent higher than a year earlier, reversing two years of declines.

    Executives were showered with more pay of all types – salaries, bonuses, stock, options and perks. The biggest gains came in cash bonuses: Two-thirds of executives got a bigger one than they had in 2009, some more than three times as big.

    http://www.huffingtonpost.com/2011/...utm_content=FeatureTitle&utm_term=Daily Brief
     
  6. poochee

    poochee

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    U.S. tax burden at lowest level since '58
    By Dennis Cauchon, USA TODAY
    Updated 1d 5h ago |

    The total tax burden — for all federal, state and local taxes — dropped to 23.6% of income in the first quarter, according to Bureau of Economic Analysis data.

    By contrast, individuals spent roughly 27% of income on taxes in the 1970s, 1980s and the 1990s — a rate that would mean $500 billion of extra taxes annually today, one-third of the estimated $1.5 trillion federal deficit this year

    http://www.usatoday.com/money/perfi/taxes/2011-05-05-tax-cut-record-low_n.htm
     
  7. poochee

    poochee

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    Posted on Thursday, May 5, 2011
    Americans are under-taxed
    By Kevin G. Hall | McClatchy Newspapers

    WASHINGTON — Here's a dirty little secret that most Americans don't want to hear: We're under-taxed.

    That may sound like heresy; nobody wants to pay more taxes. But by historical standards, what we pay in federal taxes — rich, poor and everyone in between — has gone down.

    At a time when Washington is wrestling with how to end federal budget deficits and trim the national debt — huge questions that are expected to dominate the nation's politics through the 2012 elections — the fact that Americans are under-taxed compared with U.S. historic norms is central to the discussion.

    This fact is separate from the politically charged questions of whether government spends too much, the fairness of who pays how much and what we value or don't in government spending. It's simply that our tax burden is low in the long view of U.S. history, and there are many ways to measure that central truth.

    http://www.mcclatchydc.com/2011/05/05/113759/this-fact-may-not-sit-well-americans.html
     
  8. eggplant43

    eggplant43 Thread Starter

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    If this happens, it takes gas to $5.20 per gallon.

    http://gas2.org/2011/05/06/iea-says-oil-prices-to-rise-30-the-next-three-years/
     
  9. eggplant43

    eggplant43 Thread Starter

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    http://consumerist.com/2011/05/284-of-all-homes-are-underwater.html
     
  10. poochee

    poochee

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  11. ekim68

    ekim68 Mike

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  12. eggplant43

    eggplant43 Thread Starter

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    Back in 2006 when the price of gas was running up, I predicted $7.00 a gallon gas in 2011, it could still happen.
     
  13. poochee

    poochee

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    Hedge fund founder convicted in inside-trade case
    Faces a maximum term of more than 19 years in prison.(y)
    TOM HAYS and LARRY NEUMEISTER | May 11, 2011 04:01 PM EST | AP

    NEW YORK — A former Wall Street titan was convicted Wednesday of making a fortune by coaxing a crew of corporate tipsters into giving him an illegal edge on blockbuster trades in technology and other stocks – what prosecutors called the largest insider trading case ever involving hedge funds.

    Raj Rajaratnam was convicted of five conspiracy counts and nine securities fraud charges at the closely watched trial in federal court in Manhattan. The jury had deliberated since April 25, and at one point was forced to start over again when one juror dropped out due to illness.

    Prosecutors had alleged the 53-year-old Rajaratnam made profits and avoided losses totaling more than $60 million from illegal tips. His Galleon Group funds, they said, became a multibillion-dollar success at the expense of ordinary stock investors who didn't have advance notice of the earnings of public companies and of mergers and acquisitions.

    http://www.huffingtonpost.com/huff-wires/20110511/us-hedge-fund-insider-trading/
     
  14. eggplant43

    eggplant43 Thread Starter

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    I've been following this for some time through publications likes Forbes, it's nice to see a successful prosecution in this matter. I'd like to see more of these crooks prosecuted.
     
  15. poochee

    poochee

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    Same here! They have no shame.
     
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