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The debate in Washington on immigration reform has had no political impact, but the debate is having a major impact on south Texas, 1200 WOAI news reports.
Officials say the number of people entering the U.S. illegally is way up and, tragically, the number of undocumented immigrants who have been found dead in the unforgiving Texas Brush Country is way up, and is on path this year to beat last year’s [...] Fitch cuts Spain by 3 notches to BBB, just 2 notches above junk, reasons: recap bank = 6-9% of GDP, recession thru 2013, high foreign debts First it Egan-Jones (of course). Then S&P. Now Fitch (which sees the Spanish bank recap burden between €60 and a massive €100 billion!) joins the downgrade party of rating agencies that have Spain at a sub-A rating. Only Moody’s is left. What happens when Moody’s [...] Image: Lucas Hirschegger, Wikimedia Commons Here’s a deceptively simple sentence from JPMorgan Bruce Kasman: The risk of a more severe recession appears to lie in the interaction of weak growth and policy responses. Now at this point, JPMorgan as putting a 40% chance of a small recession, but the above line is very important, and really captures the essence of the problem. See, we’re at an ironic time when bad economic data [...] Republicans are getting ready to capitalize on record prices at the pump with a May focus on oil and gasoline. The government shutdown battle put the issue on the back burner even though prices at the pump have been rising steadily since February. Now, with President Barack Obama already on the defensive, the GOP is ready to pounce. House Republicans are planning bill introductions, hearings, markups and floor votes on legislation aimed [...] Confidence in the U.S. system of government has dropped to a new low in more than 35 years, with public attitudes burdened by continued economic discontent, soaring gasoline prices, record opposition to the war in Afghanistan — and a letdown in hopes for political progress after a bout of bipartisanship last fall. Only 26 percent of Americans in a new ABC News/Washington Post poll say they’re optimistic [...] The violence in the Arab world has sent oil prices soaring, with some suggesting it is only the beginning of a huge hike. ÂOil affects the global cost of everything from food to transport and also threatens to stifle economic recovery. Protests in Arab countries seem to fuel one another; unrest is spreading like wildfire through the Middle East and North Africa. The protests are raging in or near oil-rich [...] The inflating commodities becoming more unbearable to Fed to keep the discount rate as low as .50%. Plus the latest ISM, payroll and pending home report, the economy is obviously heating up inflationary. “If you want to temper the sovereign debt crisis, either remove the juice or hike the price of the juice . . .” $3.00 per gallon is COMING again!!! “commodities are percolating because speculators, hedge funds and CTAs [...] |
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