This is no time to be complacent. Massive economic problems are erupting all over the globe, but most people seem to believe that everything is going to be just fine. In fact, a whole bunch of recent polls and surveys show that the American people are starting to feel much better about how the U.S. economy is performing. Unfortunately, the false prosperity that we are currently enjoying is not going [...]
A trend of smokers relighting cigarettes is related to economic factors finds researchers.
A research member at The Cancer Institute of New Jersey and colleagues found that the practice also had implications for tobacco dependence treatment and policy.
In these difficult economic times, increasing numbers of smokers have been smoking fewer cigarettes per day but are relighting the end portion of the cigarette that is typically discarded.
Investigators explored this behaviour, examining a [...]
A Streetwise Hercules at the Bank of England
by Ben Traynor
Wednesday 28 November 2012
Mark Carney’s been hired to bang bankers’ heads together…
WHERE have all good men gone
And where are all the gods?
Where’s the streetwise Hercules
To fight the rising odds?
Isn’t there a white knight upon a fiery steed?
Late at night I toss and turn and dream of what I need.
I need a hero.
We imagine Britain’s chancellor George Osborne has been humming this tune to [...]
House Oversight and Government Reform Committee Chairman Darrell Issa today demanded that Secretary of State Hillary Clinton turn over documents concerning what he called “excessively lavish” spending for official White House state dinners.
Issa also released a video titled “All the President’s Parties” comparing President Obama’s promises to cut wasteful federal spending with examples of extravagance drawn from the dinners for foreign dignitaries.
“During these tough economic times, Americans are reining in their spending wherever possible,” Issa [...]
Why do our politicians have to be so weird? You can tell a lot about a person by the jewelry that they wear and by the things that they carry around in their pockets, and Barack Obama’s “lucky charms” include a Hindu god, a Masonic emblem and a “wedding ring” that has the phrase “there is no god except Allah” inscribed on it. So what do these things tell us [...]
Hall of Fame quarterback John Elway endorsed Mitt Romney ahead of Wednesday’s presidential debate in Colorado.
“Governor Romney is a proven leader with the experience and background to turn around our struggling economy,” Elway said in a statement. “In these tough economic times, we need a president who understands how to get America working again – by standing on the side of taxpayers and small-business owners who do the real job [...]
DERRY — Touting Mitt Romney as the right choice for hard economic times, Republican vice presidential candidate Paul Ryan urged New Hampshire voters to get out the vote on Nov. 6.
Ryan spoke to a packed gymnasium of supporters at Pinkerton Academy on Saturday morning, hitting Barack Obama on the economy and delineating a clear choice between the Romney/Ryan ticket and the current administration.
Mr Rogers, who co-founded the Quantum Fund with George Soros, believes that America’s central bank is secretly printing money to avoid “getting egg on their face again” after previous attempts to kickstart the faltering economy with $2 trillion of QE failed.
“I do not know if they [the Fed] will announce it,” he told India’s Economic Times. “I know they are going to print more money. They already are. If you [...]
The common belief that commodities have outperformed stocks recently is wrong, says Marc Faber, economist and publisher of the Gloom Boom & Doom Report.
“Agricultural commodities have done well recently, but, say, industrial commodities have underperformed equities over the last two years,” Faber tells The Economic Times.
Faber notes that he is not particularly optimistic there will be a large rally in commodities in general, since industrial commodities will remain…
Read full [...]
Leading economist Julie Nelson says theory reinforces gender stereotypes
Phenomenon still ’a far cry from being scientifically demonstrated’
A leading economist has thrown the popular ‘Lipstick Effect’ theory into doubt, suggesting that the research behind it is based on ‘over-generalised gender stereotypes’.
The well-known phenomenon suggests that women buy less-expensive luxury goods, such as cosmetics, in tough economic times in a bid to increase their attractiveness to mates.
But now Julie Nelson, from the University of Massachusetts, Boston, has stated [...]
Veteran US investor Jim Rogers believes the Federal Reserve has already launched a third round of quantitative easing, despite chairman Ben Bernanke failing to mention stimulus measures in his Jackson Hole speech last week.
Mr Rogers, who co-founded the Quantum Fund with George Soros, believes that America’s central bank is secretly printing money to avoid “getting egg on their face again” after previous attempts to kickstart the faltering economy with $2 [...]
Gerald Celente and Alex Jones have been saying that this country is not in a recession—it’s in a DEPRESSION, and the depression is going to deepen considerably. They’re absolutely right. There will be no “economic recovery” in 2012. Things are only going to get worse in The Banana Republic of America (formerly the USA). Signore Celente describes the horror that lies ahead as The Greatest Depression, meaning a depression that’s [...]
NEW YORK (CNNMoney) — During tough economic times with high unemployment, Americans should be jumping at any chance to work, but trucking companies are struggling to hire drivers.
There are as many as 200,000 job openings nationwide for long haul truckers, according to David Heller, director of safety and policy for the Truckload Carriers Association.
The U.S. Bureau of Labor Statistics also sees the demand for truckers increasing, up from the 1.5 [...]
The U.S. has made no secret that it’s pulling its focus from the Middle East and directing military attention to the Pacific, and now China is pushing back.
The Economic Times reports China is increasing its conventional missile capability to carry out multiple launches, the one tactic that could overwhelm a Navy ship’s defenses and cripple its abilities.
Tan Weihong, Commander of China’s Second Artillery Force says, “Conventional missiles are a trump card in modern [...]
By Larry Elder
President Barack Obama’s re-election turns on his ability to convince voters that 1) Obama inherited a “Great Recession,” 2) every “independent” economist supported the “stimulus,” 3) “bipartisan” economists agree that Obama’s stimulus worked, and 4) as actor Morgan Freeman puts it, racist Republicans say, “Screw the country … we’re going to do whatever we can to get this black man outta here” — nothing to do with deeply [...]
Springsteen, who has long championed populist causes, played to a sold-out crowd at Berlin’s Olympic Stadium, singing from his album “Wrecking Ball” and speaking about tough economic times that have put people out of work worldwide and led to debt crises in Greece and other countries.
“In America, a lot of people have lost their jobs,” said Springsteen, 62, who performed for three hours to some 58,000 fans in the packed [...]
A couple other major factors will drive silver prices in the future, and that will be growing demand from emerging products, and the inability to recover silver in some of those products, losing it forever.
LONDON(BullionStreet): Silver is likely to hit $40 mark towards the end of this year despite going through a tough period offlate, analysts said.
The white metal will take advantage of higher fabrication demand and also on China’s introduction [...]
New home sales up 3.3 per cent in April, up 9.9 per cent from last year
‘McMansions’ construction helping modest development boom, as larger houses offered for same price in hopes to entice buyers
Though the recession all but left the housing market on its knees, new home sales are being driven by an unlikely factor – the rise in demand for new, larger housing.
These houses – dubbed McMansions – are being [...]
-(Dow Jones)- The head of the International Monetary Fund Wednesday told Harvard University graduates they faced one of the most challenging economic times since the 1930s.
“Your generation is facing probably the worst economic insecurity in decades, possibly ever since the Great Depression,” IMF Managing Director Christine Lagarde said in her commencement speech to the John F. Kennedy School of Government graduates.
As the euro crisis threatens to spark another world-wide financial [...]
‘There’s now an emerging consensus that more must be done to promote growth and job creation right now,’ said President Obama
Europe’s debt crisis could drag down U.S. recovery and his political future
Tension between austerity and growth formed backdrop to the summit
G8 made a joint statement of support for Greece remaining in the euro
Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on [...]
David Cameron has warned that the European debt crisis could “get a lot worse”
unless decisive action is taken, and defended the Governement’s austerity plans.
By Telegraph staff
8:57AM BST 18 May 2012
The Prime Minister told ITV’s Daybreak: “These are very difficult economic times and what’s happening in the eurozone is truly worrying. If things go badly wrong in the eurozone that affects us.”
He added that more needed to be done “to persuade eurozone [...]
David Cameron sounded a warning today to European leaders about the deepening euro crisis amid fears that a collapse could drag Britain into a decade-long depression.
The Prime Minister warned of ‘perilous economic times’ as he urged Germany and other major European nations to either take responsibility for the monetary union or allow it to break up.
‘The eurozone is at a crossroads – it either has to make up, or it [...]
David Cameron will attack Germany and other European countries for failing to stop the euro breaking apart
Will insist austerity measures is the only way to ‘keep Britain safe’
Experts say if the crisis isn’t contained 10 per cent of the national income could be wiped out in EU countries
David Cameron will today express grave doubts about the survival of the euro amid fears that a collapse could drag Britain into a [...]
Report suggests the demonstration follows the suicide of another debt-ridden Italian citizen as austerity measures intensify:
Two policemen have been injured as hundreds of protesters hurled red paint and eggs at officers guarding Equitalia, Italy’s tax collection office, in Naples following the suicide of yet another debt-ridden Italian citizen.
Demonstrators lobbed rocks and bottles at policemen clad in riot gear as the building was quickly closed to the public.
The protesters claimed to [...]
New documents disclose $500,000 tab Michelle Obama left for taxpayers
Voters sour on Obamas’ lifestyle that critics call ‘tone-deaf’ and ‘hypocritical’
New video reveals First Lady’s ‘fantasy’ to sneak way from Secret Service
Mrs Obama mulls political future and possibility of Presidential run
The First Lady’s whirlwind tour of Spain in 2010 better have been a once in a lifetime trip, because her getaway cost taxpayers nearly half a million dollars.
The highly controversial and lavish [...]
NEW YORK (Commodity Online):
In one of the highest predictions yet made by an investment bank analyst, Bank of America’s MacNeil Curry sees gold prices hitting $7000/oz before ending the uptrend.
According to MacNeil, commodity bull markets end with a massive speculative blow off and they don’t end quietly. If gold was topping out, the daily ranges would have span around $200/oz and we have not seen anything like it.
“Until we see [...]
From Peter Tchir of TF Market Advisors
Europe Has Its Parti Quebecois Moment
I have said and written that I expect to see more nationalism come into play as the crisis continues. I may have been a bit early, but we are seeing growing signs of it, with Marine le Pen’s strong showing in yesterday’s French election being the most obvious example. The Dutch Parliament’s failure to approve “austerity” is another sign [...]
From Carpe Diem:
1. Natural gas futures prices fell to another 10-year low today, to $2.208 per million BTUs on the New York Mercantile Exchange. In nominal dollars, that’s the lowest price for natural gas since February 2002… And adjusting for inflation, it’s the lowest price since July 1995, almost 17 years ago.
2. Michigan-based Consumers Energy announced today that it will lower natural gas prices starting next month for 1.7 million [...]
Vince Cable claims his decision to freeze wages for the under 21s will help young people to find work. In fact, this policy is likely to create further punishment for the most vulnerable in society.
The case for freezing the national minimum wage for 16- to 17-year-olds at £3.68 and £4.98 for 18- to 20-year-olds is that it will make young people more attractive to employers during these difficult economic times. [...]
Uploaded by TrimTabs on Feb 23, 2012
TrimTabs President & CEO Charles Biderman gives advice on how to improve your portfolio amid tough economic times. Follow Charles on Twitterhttps://twitter.com/#!/charlesbiderman and log on to TrimTabs Money Bloghttp://trimtabs.com/blog/
by Joe Weisenthal
In a new note, Morgan Stanley’s Calvin Tse and Evan Brown say the market is about to go from “sweet spot” to “sugar crash.”
To recap, basically things are going swimmingly. People aren’t worried for the moment about Eurozone contagion, inflation is pretty benign everywhere, and after a bit of a growth scare last year, the data is coming in robust all around the world, as seen in this simple [...]
By WILLIAM C. BEACH
Skyrocketing food-stamp enrollments over the last few years have played a notable role in this year’s presidential race, but it’s not just food stamps that have exploded — it’s entitlements, generally: housing subsidies, Medicaid rolls, college loans and much, much more.
And the trend is threatening to chip away at the very pillars that keep America’s civil society functioning.
Today, one in five Americans — 67 million of us, [...]
Many people are realizing the value of preparation because our tough economic times make the future seem so uncertain. What if things get worse (maybe much worse) before they get better? Unemployment is high, home values are low, and many people simply can’t afford to prepare in the ways that they would like to.
We need to prepare while we can…but how can people go out and buy everything they [...]