Iceland's PM warns of "chaos" (and not getting an invite to Davos or Jackson Hole) after voters again reject a plan to pay back countries whose citizens lost money in the banking collapse. The dispute will end up in court, where the U.K. and Netherlands can explain to a judge why a country's citizens should be liable for the actions of a private financial institution. [View news story]
Wealth Disparities in U.S. Approaching 1920s Levels [View article]
Excellent post, Peter. I had a career emergency, and went for nursing like most others. 4.0 gpa on all the pre-rec's, top of the class in just about everything. I made it a month or so until I realized it was a horrible investment. Rn's are expected to know medications on a doctor's level, have 4+ people's lives in their hands, put in 14 hour days while in school, all to make 20~ an hour after taxes. No thanks. IF anyone thinks 20 an hour is fair compensation for that job, or any job you need to dedicate several years and thousands(or tens of thousands) of dollars in order to slave 40+ hours a week to scrape by you're nuts. Yet my financial investment adviser friend (basically a salesman) pulls in 100k smooth talking people into handing over their cash so he can invest it for them(often times losing it).
President Obama says House Speaker Boehner has decided to walk away from debt limit negotiations. Earlier today, Boehner had suggested talks would continue. [View news story]
Hey, he has a disease. I thought you guys were the compassionate ones?
The Interior Department says it may have to reject seven deepwater drilling permits if a federal judge forces the government to make a quick decision. Judge Martin Feldman ordered regulators to make a decision by the end of the month; the government plans to appeal. [View news story]
Wait, what? A car in which its biggest(only) merit is nothing more than a low fuel expense, that costs 40k, isn't selling well?!
President Obama yesterday attempted to assuage voter wrath over high pump prices by unveiling plans to expand oil and gas drilling in Alaska and exploration off the Atlantic coast. The announcement comes after the GOP-led House passed three bills in the last ten days to accelerate oil development in the U.S. [View news story]
All the King's media and all the King's men couldn't make obama's election happen again.
Obama's ambitious plans aside, renewable energy still hasn't outgrown criticisms that have dogged it for years: It remains too expensive to compete head-to-head with fossil fuels, and it's too dependent on government subsidies. "Is society willing to pay for it?" one energy expert asks - and, given how much fossil fuel is available and how relatively cheap it is, why should it? [View news story]
If you can't make green energy affordable, just make petro unaffordable.
Amid worries that $110 oil will prove the tipping point for widespread pain in the U.S. economy, some analysts don't just think the U.S. markets will weather the storm, BofA Merrill Lynch actually sees a "net positive." Oil is “less than 40%” of U.S. energy consumption; natural gas and coal are bigger, and their prices are way down from 2008 levels. [View news story]
Obama Placing the Economic Cart Before the Horse [View article]
I completely agree that in order for this country to start ascending from this mess, someone, somewhere in the US has to produce something tangible, (not waiting tables, bagging groceries, or telling my grandparents which mutual fund to invest in) as well as making a profit on it.
However, the upside I see from the current crisis of the average American being much more astute as to where their money is going after is reaches the government is going to cause problems as well, when dollars are being spent to Frankenstein together failing companies, unscrupulous banks, etc...Socialism is taking hold and enthusiasm to labor for GM and AIG's continuance is waining.
Pres. Obama's "original sin" is his "failure to demand a reckoning from the moneyed interests who brought the economy down," Frank Rich asserts - a simple explanation for the current troubles but not accurate, Derek Thompson counters. "Unemployment suffers today not because of, but independent of, Wall Street's success. That is the simple, boring truth." [View news story]
Of course they did, people have to have cheap flat screen tv's, a new iphone every six months, and stockholders want max return. You won't get any of that paying a premium for American work and the accompanying pensions, health insurance, sick time, vaca pay. There's no free ride my friend.
U.S. Economy: Dismal News, Dismal Outlook [View article]
Good post tack. I get the impression we are one generation away from a society that isn't able to wipe their a** without help due to a lack of self reliance. They will, however, be wicked good text messagers.
Greenspan Warns About Interest Rates, Debt [View article]
No one is denying what he said being/not being true; rather it is being discussed whether he is being hypocritical in what he is presently saying versus his past policies. Do you know what hypocritical means?
Iceland's PM warns of "chaos" (and not getting an invite to Davos or Jackson Hole) after voters again reject a plan to pay back countries whose citizens lost money in the banking collapse. The dispute will end up in court, where the U.K. and Netherlands can explain to a judge why a country's citizens should be liable for the actions of a private financial institution. [View news story]
Wealth Disparities in U.S. Approaching 1920s Levels [View article]
President Obama says House Speaker Boehner has decided to walk away from debt limit negotiations. Earlier today, Boehner had suggested talks would continue. [View news story]
The Interior Department says it may have to reject seven deepwater drilling permits if a federal judge forces the government to make a quick decision. Judge Martin Feldman ordered regulators to make a decision by the end of the month; the government plans to appeal. [View news story]
Greenspan Warns About Interest Rates, Debt [View article]
AT&T Melts Down Again, Will Apple Ever Learn? [View article]
President Obama yesterday attempted to assuage voter wrath over high pump prices by unveiling plans to expand oil and gas drilling in Alaska and exploration off the Atlantic coast. The announcement comes after the GOP-led House passed three bills in the last ten days to accelerate oil development in the U.S. [View news story]
ADP: While Positive, Structural Unemployment Remains [View article]
Obama's ambitious plans aside, renewable energy still hasn't outgrown criticisms that have dogged it for years: It remains too expensive to compete head-to-head with fossil fuels, and it's too dependent on government subsidies. "Is society willing to pay for it?" one energy expert asks - and, given how much fossil fuel is available and how relatively cheap it is, why should it? [View news story]
Amid worries that $110 oil will prove the tipping point for widespread pain in the U.S. economy, some analysts don't just think the U.S. markets will weather the storm, BofA Merrill Lynch actually sees a "net positive." Oil is “less than 40%” of U.S. energy consumption; natural gas and coal are bigger, and their prices are way down from 2008 levels. [View news story]
Obama Placing the Economic Cart Before the Horse [View article]
However, the upside I see from the current crisis of the average American being much more astute as to where their money is going after is reaches the government
is going to cause problems as well, when dollars are being spent to Frankenstein together failing companies, unscrupulous banks, etc...Socialism is taking hold and enthusiasm to labor for GM and AIG's continuance is waining.
Pres. Obama's "original sin" is his "failure to demand a reckoning from the moneyed interests who brought the economy down," Frank Rich asserts - a simple explanation for the current troubles but not accurate, Derek Thompson counters. "Unemployment suffers today not because of, but independent of, Wall Street's success. That is the simple, boring truth." [View news story]
Weak holiday sales are even more dismal than they seem, Jeff Nielson writes. When adjusted for inflation, the 2010 shopping season was actually worse than in 2008 and 2009 - "nothing short of an economic disaster." But at least we're eating well. [View news story]
U.S. Economy: Dismal News, Dismal Outlook [View article]
Greenspan Warns About Interest Rates, Debt [View article]