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The Stock Market Doesn’t Need The Economy To Surge The S&P 500 gained a notable 1.7% last week, and it sits just points from its all-time high. This comes as U.S. economic data continues to signal a spring slowdown. Q1 GDP grew at a slower pace than expected, durable goods orders disappointed in April, and the housing market is showing signs of slowing. Meanwhile, the current earnings season continues to be less than stellar….
The Latest Data Is Flashing Some Big Red Flags For The [...] By Charles Hugh Smith A titanic political battle is brewing between the parasitic aristocracy, the dependent class and the two classes creating value with their labor. In the conventional view, America’s socioeconomic classes are divided by income and wealth into various layers of Wealthy, Middle Class and Poor. If we extend the analysis presented in Why Employment in the U.S. Isn’t Coming Back (January 29, 2013) and Why Employment Is Dead in the Water (January 28, 2013), [...] NEW YORK – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents? Nowadays, these numbers show [...] NEW YORK – America likes to think of itself as a land of opportunity, and others view it in much the same light. But, while we can all think of examples of Americans who rose to the top on their own, what really matters are the statistics: to what extent do an individual’s life chances depend on the income and education of his or her parents? Nowadays, these numbers [...] By Josh Rogin The Chinese people are increasingly frustrated with the Chinese Communist Party and the political situation in China is “very, very delicate,” U.S. Ambassador to China Gary Locke said on Wednesday. “I do believe that there is a power of the people, and there is a growing frustration among the people over the operations of government, corruption, lack of transparency, and issues that affect the Chinese people on a daily basis that they [...] No surprise there. Imagine if Iran was doing any of the things highlighted in this string to the US. We’d declare war on them ASAP. Yet the Iranians do not bite. They obviously do not want war because that would be suicide. Their fate is the same as what has happened to Iraq and Libya if they pigeon-hole themselves and allow the US to obtain UN or support for anything [...] http://www.huffingtonpost.com/robert…b_1102290.html The biggest question right now on Planet Washington is whether the congressional supercommittee will reach an agreement. That’s the wrong question. Agreement or not, Washington is on the road to making budget cuts that will slow the economy, increase unemployment, and impose additional hardship on millions of Americans. The real question is how to stop this austerity train wreck, and substitute the following: First: No cuts before jobs are back — until unemployment [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, “there is class warfare, all right,” declared Warren Buffett. “But it’s my class, the rich class, that’s making war, and we’re winning.” Yes, the Rich Class is at war with you, with the 99%, a war against America. This class war actually started a generation ago, in 1981 when Ronald Reagan became president. Since then, the Rich Class has been [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. — Yes, “there is class warfare, all right,” declared Warren Buffett. “But it’s my class, the rich class, that’s making war, and we’re winning.” Yes, the Rich Class is at war with you, with the 99%, a war against America. This class war actually started a generation ago, in 1981 when Ronald Reagan became president. Since then, the Rich Class has been winners. [...] by Robert Reich Anyone who characterizes the deal between the President and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics. The deal does not raise taxes on America’s wealthy and most fortunate — who are now taking home a larger share of total income and wealth, and whose tax rates are already lower than they have been, in eighty [...] Oil scarcity may have ‘minor’ impact: IMF “The study doesn’t doubt that oil is getting increasingly scarce, as emerging markets such as China ratchet up consumption. ” “The IMF, studying the impact of a 1% drop in oil supply trend growth, says output would be hurt by less than 0.25% in the medium and long term. Prices could rise 200% over 20 years, but as oil exporters see [...] It is very clear that the people on top are doing extraordinarily well as the poverty is decreasing… Today the crooks on Wall Street, the people whose illegal, reckless actions have resulted in the millions of Americans losing their jobs, their savings, after we bailed them out, the CEOs are making more money than before the bailout. The US now has by far the most [...] |
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