Mark Mobius – Europe Has to Have a Default
Mark Mobius, Executive Chairman at Templeton Emerging Markets Group says the only way to solve the euro zone’s debt crisis is for a default to happen.
Mark Mobius: Default Only Answer for Eurozone
Bailouts have not worked, the executive chairman at Templeton Emerging Markets Group told CNBC.
“At the end of the day, you just have to have a default. The default will take place [...]
From the mid-17th century to the late 20th century, the American economy grew roughly 3.5% a year. That growth rate has since declined significantly. When the final figures are in for 2012, the annual rate of real output growth for the first dozen years of this century is likely to be about 1.81%.
What accounts for the slowdown? An important part of the answer is simple: Americans aren’t working as much [...]
WASHINGTON (AP) — U.S. employers added 96,000 jobs last month, a weak figure that could slow any momentum President Barack Obama hoped to gain from his speech to the Democratic National Convention.
The unemployment rate fell to 8.1 percent from 8.3 percent in July, the Labor Department said Friday. But that was only because more people gave up looking for work. The government only counts people as unemployed if they are [...]
And it is only going to get much worse.
Cisco to Lay Off About 1300 Employees? Wall Street Journal
Continuing to trim expenses amid growing competition and the sluggish economy, San Jose networking giant Cisco Systems said Monday it will lay off about …
Kiwifruit woes lead to orchard layoffs
?The Farming Show – 15 hours ago
Layoffs have started in the Bay’s orchard spraying companies because of the … on the successful grafting this [...]
US President Barack Obama said Saturday the United States needed to do more than just reclaim jobs lost to the recession, as he called for rebuilding the economy to make it secure for future generations.
“Our mission isn’t just to put people back to work – it’s to rebuild an economy where that work pays; an economy in which everyone who works hard has the chance to get ahead,” Obama said [...]
For the second day in a row, Mitt Romney trashed President Obama’s record on government spending, suggesting the growing federal debt is going to lead to a “dramatic” tax increase and drag down an already sluggish economy.
Speaking in St. Petersburg, Florida, the presumptive Republican nominee was flanked by a group of seniors and spoke in front of a digital sign ticking off the growing federal deficit.
Echoing his speech in Iowa [...]
Mitt Romney told students at a Christian university that marriage is ‘ a relationship between one man and one woman.‘
Romney told the Liberty University commencement that marriage is an ‘enduring’ institution that’s reserved for one man and one woman.
The crowd cheered his comments, made days after Democratic President Barack Obama embraced same-sex marriage.
The presumptive Republican presidential nominee also said that culture — ‘what you believe, how you live, what you value — [...]
Goldrunner | March 29, 2012 – 8:58am
Around this point in the fractal cycle in the late 70’s, Gold busted out of its channel to rise sharply higher, along with Silver. Silver’s channel top will lie up around $68 to $70 over the coming months which we believe will be reached in 2012. The next higher angled resistance bands for Silver run from $112 to $115, and then up at the $123 area. [...]
Republicans in the U.S. House are pushing legislation that would freeze new regulations and hamper the changing of existing ones, all in the name of helping small businesses grow.
But critics contend that the Regulatory Freeze for Jobs Act represents an overreaction to the sluggish economy and would do more harm than good.
H.R. 4078 would halt all “significant regulatory actions” until the national unemployment rate falls below 6%—a threshold the nation may [...]
January 25, 2012
On Monday, Arizona state Sen. Steve Gallardo (D-Phoenix) introduced a bill to repeal that state’s crackdown legislation on illegal immigration, known as SB1070.
Gallardo’s measure (SB1218), if passed, would eliminate all provisions contained in SB1070, including the current requirement placed on local and state law enforcement officers to investigate a suspect’s immigration status.
SB1218 has 16 primary sponsors and eight co-sponsors…all Democrats.
Why does Sen. Gallardo’s want to repeal SB1070?
WASHINGTON (AP) – Is health-care relief finally in sight?
Health spending stabilized as a share of the nation’s economy in 2010 after two back-to-back years of historically low growth, the government reported Monday.
Experts debated whether it’s a fleeting consequence of the sluggish economy, or a real sign that cost controls by private employers and government at all levels are starting to work.
The answers will be vital for Medicare’s sustainability, as well as for [...]
Over the past several months, President Obama has spent much time pleading for patience on the sluggish economy and ongoing high unemployment, arguing that the economic hole was so deep and the crisis so monumental that a slow recovery — now in its 30th month — was inevitable.
But in making his case, Obama appears to be perpetuating several myths about the recession he inherited and the slow recovery over which [...]
The current economic downturn has been called a housing crisis, a financial crisis and a debt crisis, but the simplifying logic of the political season has settled on what is really more a result than a cause. We are now, according to nearly everyone running for office, in a jobs crisis. Every politician currently has a “jobs plan,” very often a list of vague proposals filled with serious-sounding phrases like [...]
(Reuters) – Bank of America Corp employees are flooding rival companies with resumes as a major cost-cutting program gets under way at the second-largest U.S. bank.
Competitors say they are getting an influx of calls, emails and LinkedIn connection requests as the bank embarks on a plan to slash 30,000 jobs over the next few years. The employees are scouting jobs in retail, commercial and investment banking, bankers and recruiters said.
#1 According to a brand new Fox News poll, 76 percent of all Americans are “dissatisfied with how things are going in the country”. At the beginning of this year, that number was only at 61 percent.
#2 Violence in our streets continues to rise and sadly police officers are increasingly becoming targets. The number of law enforcement officials that have been killed in the United States [...]
A majority of Americans now oppose giving President Obama a second term, reflecting the country’s continued weak economic performance, according to the latest IBD/TIPP survey released Monday.
By 51%-41%, respondents in October picked “someone new deserves a chance” over Obama “deserves to be re-elected.” Among independents, it was 54%-36%. Back in September, the readings were 50%-44% and 53%-38%, respectively.
Americans are frustrated over the continued sluggish economy, [...]
Three years after virtually nationalizing the U.S. mortgage market, the government has embarked on a pullback to see whether private industry picks up the slack.
Some people in the housing industry worry that Washington’s move will cause fresh pain in many regions where demand has yet to recover amid the sluggish economy.
At issue are the loan limits that Congress expanded in 2008, allowing Fannie Mae [...]
By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) — Delinquency rates for consumer loans rose in the second quarter, as employment weakness persisted and higher gas and food prices pressured family budgets, according to a report released Wednesday by the American Bankers Association.
According to ABA, delinquencies rose in nine of 11 loan categories, led by home-equity loans. The ABA’s composite ratio, which tracks delinquencies in eight closed-end [...]
The US Department of Agriculture recently announced plans to buy $40 million of chicken from poultry farmers in an effort to support sagging profits in the $45 billion industry, CNN reports.
Prices for chicken feed have risen in the past several years (along with other commodities prices). But at the same time, the sluggish economy has depressed consumer demand for meat, keeping retail prices low. These two factors have [...]
US new home sales fell for the second month a row in June, figures have shown, indicating continuing weakness in the housing market.
Sales fell 1% in June to a seasonally adjusted annual rate of 312,000, from a downwardly revised 315,000 in May, the Commerce Department said.
Separate surveys found US home prices rose slightly between April and May, while consumer confidence grew in July.
High unemployment and [...]
ALLAHASSEE — Gov. Rick Scott’s net worth dropped by $115 million in 2010, but his income soared nearly 40 percent in the sluggish economy.
The hospital executive-turned-investor earned $11.5 million from investment income, interest and consulting fees, according to a recently filed financial disclosure form.
That’s more than the $8.3 million he reported in 2009 and the $3.7 million he earned in 2008.
And while the value of his [...]
Joel Cairo for News
They may have come to the city to get a law degree, but a hefty percentage of young New Yorkers plans to flee the city in the next five years.
ALBANY – Escape from New York is not just a movie – it’s also a state of mind.
A new Marist College poll shows that 36% of New Yorkers under the age of 30 are planning to [...]
Reuters has compiled a more objective list of opinions and key industry verticals than something that could come out of a San Diego weatherman. “Nuclear experts can’t agree what the worst-case scenario for Japan’s nuclear crisis might be, so predicting the impact of the disaster on the world’s third-largest economy with any accuracy is an impossible task. But even if a catastrophic nuclear [...]