Posts Tagged ‘economy’
Posted by Warm Southern Breeze on Saturday, September 14, 2013
More than a few folks recall the significant benefit the Civilian Conservation Corps (CCC) provided this nation, and how our nation’s infrastructure (roads, waterways, electrical power grid, etc.) grew during that time. In Monte Sano State Park, in Huntsville, Alabama, there are cabins which are STILL standing, and which are in EXCELLENT repair, that were constructed by the CCC. It is testament to their quality, and to the effort to put people to work in this nation in the aftermath of the Great Depression.
Sadly, this largely Republican-led, “just-say-no” congress has done NOTHING to produce or encourage any type of jobs. That is to say, they have written NO BILLS to promote, encourage or stimulate hiring. NONE.
And yet, there is a sure-fire, time-tested way to get folks back to work – and what is being done about it?
Read the rest of this entry »
Posted in - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: Civilian Conservation Corps, economics, economy, George Miller, Great Depression, jobs, John Kline, money, Monte Sano State Park, policy, politics, Republican, United States, United States House Committee on Education and the Workforce | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, August 4, 2013
Educational attainment in the world, 1950–2010
Robert Barro, Jong-Wha Lee, 18 May 2010
Empirical investigations of the role of human capital require accurate measures across countries and over time. This column describes a new dataset on educational attainment for 146 countries at 5-year intervals from 1950 to 2010. The new data, freely available online, use more information and better methodology than existing datasets. Among the many new results is that the rate of return to an additional year of schooling on output is quite high – ranging from 5% to 12%.
It is widely accepted that human capital, particularly attained through education, is crucial to economic progress. An increase in the number of well-educated people implies a higher level of labour productivity and a greater ability to absorb advanced technology from developed countries (Acemoglu 2009). Empirical investigations of the role of human capital require accurate and internationally-comparable measures of human capital across countries and over time.
Our earlier studies (1993, 1996, and 2001) constructed measures of educational attainment of the adult population for a broad group of countries. This column introduces a new data set (available at barrolee.com) providing improved estimates for 146 countries at 5-year intervals from 1950 to 2010. The data are Read the rest of this entry »
Posted in - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: advancement, analysis, Asia-Pacific, Asian Development Bank, Barro, commerce, economists, economy, education, historical, history, Human capital, Journal of Monetary Economics, labor, modern history, policy, Rate of return, research, Robert Barro, statistics, Sub-Saharan Africa, Technology | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, July 28, 2013
Chattanooga is an old, old, old, old city.
It’s older than Civil War old.
Throughout the city there are narrow streets, many (if not most) of which need widening and repaving. Interstate 24, which leads into the city, is in sore need of widening. Because of the twisting, winding route it takes as it leads into, through and around the city and it’s numerous mountains and hills, it can be treacherous. When any slowdown for any reason occurs, traffic can be backed up for 15-20 miles, or more. When wrecks occur on that route, they’re often fatal, and create even longer delays. The only other major route into the city is US Highway 72. There is no bypass. If there are problems on either of those two routes, significant delays can take hours. (See a Google Map of the area.)
It has a university – University of Tennessee, Chattanooga – with other smaller colleges & universities nearby (Lee University, in Cleveland & Southern Adventist University, in Collegedale). One of three hospitals in the area (each which has numerous campuses) Erlanger, is a Level One Trauma Center, and teaching hospital for the College of Medicine at the University of Tennessee, Knoxville. Memorial Hospital, is part of the Catholic Health Initiatives system, and is a teaching hospital, while Parkridge Hospital is operated by TriStar Health.
Because of industrial waste released by area manufacturing, in 1969, Chattanooga had the filthiest air in the nation. The Tennessee River which serves as a boundary for the area was equally polluted. For many years, troubles GALORE plagued the city, including economic inequality, poor race relations, deteriorating economic infrastructure, rapid population decline, and departure of industry.
Recognizing that the city and area residents were suffering a slow suicide, officials and interested citizens embarked upon a plan to revitalize the area, including cleaning up industrial waste, reinvigorating the economy with employment opportunity, and looking forward, rather than backward.
EPB (Electric Power Board), one of the public utilities in the area, came upon an idea to infuse their power grid with Fiber Optic cable to enable better response times, to pinpoint areas of concern, and to re-route electricity during power outages when lines were downed by trees or severe weather. They faced stiff opposition in the form of legal fights by Comcast (principally), yet were successful in overcoming. In turn, they sold High Speed fiber optic Internet Connectivity to area residents at a significantly reduced cost in comparison to the Wall-Street-traded Comcast. They also provide better service.
While the area’s renaissance is by no means complete, it has advanced with enormously significant strides.
Obama to visit uneven Chattanooga area recovery
published Saturday, July 27th, 2013
Mike Pare, Deputy Business Editor, Chattanooga Times Free Press; MPare@ TimesFreePress.com phone: (423) 757-6318
by Mike Pare
When President Barack Obama flies into Chattanooga on Tuesday to tout new economic initiatives, he’ll see a city recognized in a national study as a metro area emerging from the recession as an “economic frontrunner.”
Area Development, a national business magazine covering site selection and relocation, ranked metro Chattanooga at No. 86 — in the top quarter — among 380 metro areas examined for the study titled “Leading Locations for 2013.”
While in Chattanooga Obama is expected to unveil new ways to spur the nation’s sluggish economic recovery.
At the Amazon distribution center at Enterprise South industrial park, the president will see a growing, state-of-the-art distribution facility with 1,800 full-time jobs created since 2011. The Chattanooga facility, along with Read the rest of this entry »
Posted in - Business... None of yours, - My Hometown is the sweetest place I know, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: Alabama, Amazon, Atlanta, Barack Obama, Bristol, business, center, CEO, CHA, Chattanooga, Chattanooga Tennessee, Chattanooga Times Free Press, CLEVELAND, Columbus, connectivity, Dalton, Democrat, Democratic, economic, economy, enterprise, EPB, fiber optics, fulfillment, Georgia, high speed Internet, Huntsville, Indiana, Internet, Jeff Bezos, jobs, Kingston, Knoxville, living, Louisiana, manufacturing, Memphis, money, Nashville, Nooga, Obama, Odessa, policy, politics, president, private enterprise, region, regional, Rome, South, southern, taxes, Tennessee, Texas, TN, TVA, United States, University of Tennessee, Volkswagen, wages | 2 Comments »
Posted by Warm Southern Breeze on Saturday, May 25, 2013
Ross Perot was right.
Scene: 1992 Presidential Debate: Former Arkansas Governor William Jefferson Clinton – D, President George H. W. Bush – R, and Ross Perot – I.
White Male Audience Member: Yes, I’d like to direct my question to Mr. Perot. What will you do, as President, to open foreign markets to fair competiton from American business, and to stop unfair competition here at home from foreign countries, so that we can bring jobs back to the United States?
Ross Perot: That’s right at the top of my agenda.
We’ve shipped millions of jobs overseas, and uh… we have a strained situation because we have a process in Washington, where after you’ve served for a while, you cash in, become a foreign lobbyist, make $30,000 a month, then take a leave, work on presidential campaigns, make sure you got good contacts, and then go back out.
And if you just want to get down to brass tacks, the first thing you ought to do is get all these folks who got these one-way trade agreements that we’ve negotiated over the years, and say ‘fellas, we’ll take the same deal we gave you.’ And they’ll gridlock right at that point, because, Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: 1992, Bill Clinton, debate, economy, employers, George H.W. Bush, Giant sucking sound, government, history, jobs, labor, money, Perot, policy, president, presidential, Ross Perot, United States, Washington, Washington D.C., Washington DC, worker | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, March 3, 2013
This issue raises some very interesting questions. First, because men are a minority in Nursing, is it justifiable for them to earn more than those, who as a group, dominate the profession?
Or, is parity genuinely or truly parity?
Should men and women earn the same amount of money if they do the exact same kind of work?
Or, are there accountable differences in the pay which justify the difference, however slight – and is very slight.
Male Nurses Make More Money
- February 25, 2013, 1:17 PM
Men now comprise 10% of all Nurses in the United States, up from 3% several years ago. / Getty Images
Hospital patients are more likely than ever to see a male nurse at their bedside — and odds are he earns more than the female nurse down the hall. Men made up close to 10% of all registered nurses in 2011, according to a new Census report released today. That may not sound like much, but it’s up from less than 3% in 1970 and less than 8% in 2000.
It’s no mystery what is drawing men into nursing. Male-dominated professions such as construction and manufacturing hemorrhaged jobs during the recession and have been slow to rebound during the recovery. The health-care sector, meanwhile, actually added jobs during the recession and has continued to grow since. All told, health-care employment is up by Read the rest of this entry »
Posted in - Do you feel like we do, Dr. Who?, - Read 'em and weep: The Daily News | Tagged: Advanced Practice Nurse, Critical Care, CRNA, economics, economy, education, employment, faculty, Getty Images, health, health care, healthcare, income, jobs, license, Licensed practical nurse, LPN, Master's Degree, Men in nursing, money, MSN, news, Nurse anesthetist, Nurse Practitioner, Nursing, practice, profession, professional, recession, Registered Nurse, RN, unemployment, USA | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, January 17, 2013
The Federal Reserve regularly publishes a summary of economic activity in the 12 Federal Reserve Districts in the United States.
It is important to note that “This document summarizes comments received from businesses and other contacts outside the Federal Reserve and is not a commentary on the views of Federal Reserve officials.”
Much, if not most of the news was promising.
Summary highlights from this Beige Book 2013-01-16 are that:
• “Reports from the twelve Federal Reserve Districts indicated that economic activity has expanded since the previous Beige Book report, with all twelve Districts characterizing the pace of growth as either modest or moderate.”
Posted in - Business... None of yours, - My Hometown is the sweetest place I know | Tagged: agriculture, automobile, Beige Book, business, Coal, construction, consumer, Consumer spending, economic, economy, employment, Energy, farming, Federal Reserve, Federal Reserve Bank, Federal Reserve District, Federal Reserve System, gas, housing, jobs, manufacturing, money, NatGas, Natural gas, news, Philadelphia, Real estate, sales, spending, travel, unemployment, United States, wages | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, January 13, 2013
The Employment Situation in December
January 04, 2013
09:30 AM ES
While more work remains to be done, today’s employment report provides further evidence that the U.S. economy is continuing to heal from the wounds inflicted by the worst downturn since the Great Depression. It is critical that we continue the policies that are building an economy that works for the middle class as we dig our way out of the deep hole that was caused by the severe recession that began in December 2007.
With the passage of the American Taxpayer Relief Act earlier this week, more than 98 percent of Americans and 97 percent of small businesses now have certainty that their income taxes will not rise. Additionally, unemployment insurance was extended for two million Americans who are searching for a job, and companies will continue to receive tax credits for the research that they do and continue to have tax incentives to accelerate investment in their businesses. By allowing income tax cuts for the top two percent of earners to expire, this legislation further reduces the deficit by $737 billion over the next decade. It is important that we continue to move toward a sustainable federal budget in a responsible way that balances revenue and spending while protecting critical investments in the economy and essential support for our most vulnerable citizens.
Today’s report from the Bureau of Labor Statistics (BLS) shows that private sector businesses added Read the rest of this entry »
Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: Alan B. Krueger, American Taxpayer Relief Act, Bureau of Labor Statistics, December, economy, Economy of the United States, employment, entrepreneurship, Great Depression II, Great Recession, income, jobs, Labor force, politics, private enterprise, report, taxes, United States | Leave a Comment »
Posted by Warm Southern Breeze on Monday, December 31, 2012
This Do-Nothing Congress is, without question, the absolutely WORST Congress EVER!
More filibustering & taxes, less law-making, less-governance.
That must be what they mean when they talk about “smaller government,” or “less laws.”
By Alan Bjerga & Derek Wallbank – Dec 31, 2012 12:01 AM ET
House Agriculture Committee Chairman Frank Lucas and Senate Agriculture Committee Chairman Debbie Stabenow are backing a short-term extension of a farm law that lapsed Sept. 30 as the Obama administration warns that without congressional action, retail milk prices could almost double.
“I would hope that as soon as is humanly possible, a decision will be made to allow us to take action” on the extension, Lucas told reporters off the House floor. “We need to take positive action, put this issue to rest, and make sure that it is clear to everybody in this country that the farm bill policy has certainty and that we will not have $8 or $9 milk.”
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow. Photographer: Scott Olson/Getty Images
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow. Photographer: Scott Olson/Getty Images
The draft bill would extend current law, along with disaster aid for producers affected by this year’s U.S. drought and changes to current milk policy, through Sept. 30. It would reduce mandatory outlays by $30 million through fiscal 2022, according to the Congressional Budget Office. The bulk of the spending would come in the first year, and as such it would actually increase spending by an estimated $555 million through fiscal 2017.
The proposal is one of three farm-related draft bills released over the weekend in the House of Representatives; all of them would stave off the potential jump in consumer milk prices should government commodity programs begin to lapse tomorrow.
The second measure would extend most of the current law through Jan. 31, and the third would protect only against possible dairy-price spikes. Those two are opposed by House and Senate Democratic agriculture leaders. Representative Collin Peterson of Minnesota, the top Democrat on the House Agriculture Committee, called a 30-day extension a “poor joke on farmers that offers no certainty.”
The most recent farm law, enacted in 2008, expired after attempts to pass a new five-year proposal failed. Without that plan, agricultural programs automatically return to rules passed in 1949, the basis of all subsequent legislation.
The effects of that transition have been delayed because of the growing seasons of different crops. Dairy production, a year-round business, is the first major commodity affected. In November, the U.S. Department of Agriculture Read the rest of this entry »
Posted in - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: commodity, Congress, economy, federal, Fiscal Cliff, food, GOP, government, House, indecision, lawmakers, milk, policy, politics, prices, Republican, senate, spending, taxes, Washington DC | Leave a Comment »
Posted by Warm Southern Breeze on Wednesday, December 26, 2012
Perhaps the most telling rationale, or motivation for the course upon which corporations have set is explained in this statement by ANDREW SMITHERS: Yes, the current way in which managements are rewarded is perverse from an economic viewpoint. Adam Smith pointed out that some characteristics of human beings such as greed, which are often unpleasant at a personal level, can nonetheless bring social benefits. But this is not necessarily the case under current remuneration systems; greed is increasingly the cause of harm rather than help to the economy.
The long and short of it, is greed. And in that paragraph is the solitary mention of the word or practice.
Philosophically, this time, this period in our nation’s history – and in the history of the world, and in the greater, long term picture of humanity – is yet another prime example, and case in point illustrating why and how the selfishness of greed is unsustainable and genuinely evil.
Capital Wins, Labor Loses, But Andrew Smithers Says It Can’t Go On
MAKING SENSE — December 26, 2012 at 4:48 PM EDT
BY: PAUL SOLMAN
Warehouse manager at operations desk on computer. Photo courtesy of John McBride & Company Inc.
Paul Solman: Jon Shayne is not just the world’s No. 1 econo-crooner, belting out economics tunes of his own invention under the stage name Merle Hazard at his own website and for the PBS NewsHour audience on inflation, on the Greek debt crisis, on the euro crisis in general, on too-big-to-fail banks, and most recently, on the fiscal cliff.
No, Shayne/Hazard is no one-trick pony. He is also a noted money manager, recently highlighted by Forbes magazine for his perspicacity in stock-picking. Wrote Forbes: “If you follow the stock market, Jon Shayne is worth a good, long listen. Especially now.”
Having listened to Jon plenty over the past few years, I agree, especially with his emphasis on the increasing share of national income commanded by the owners of capital, in contrast to labor. This angle is the focus of Forbes’ story as well.
So I asked Jon to elaborate for the Making Sen$e audience. He has done so by interviewing the person who inspired his thoughts on the subject, British economist Andrew Smithers, who formerly ran the asset management business of S.G. Warburg, and now Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: Adam Smith, analysis, ANDREW, Andrew Smithers, business, CEO, Company, compensation, corporations, economics, Economist, economy, employee, employment, enterprise, European sovereign debt crisis, executives, family, Federal Reserve Bank of New York, Forbes, free enterprise, greed, jobs, JON, JON SHAYNE, labor, London, management, market, money, news, PBS NewsHour, profit, stocks, worker, workers | Leave a Comment »
Posted by Warm Southern Breeze on Sunday, October 28, 2012
Brer Fox leapt out of the bushes and strolled over to Brer Rabbit. “Well, well, what have we here?” he asked, grinning an evil grin.
Brer Rabbit gulped. He was stuck fast. He did some fast thinking while Brer Fox rolled about on the road, laughing himself sick over Brer Rabbit’s dilemma.
“I’ve got you this time, Brer Rabbit,” said Brer Fox, jumping up and shaking off the dust. “You’ve sassed me for the very last time. Now I wonder what I should do with you?”
Brer Rabbit’s eyes got very large. “Oh please Brer Fox, whatever you do, please don’t throw me into the briar patch.”
“Maybe I should roast you over a fire and eat you,” mused Brer Fox. “No, that’s too much trouble. Maybe I’ll hang you instead.”
“Roast me! Hang me! Do whatever you please,” said Brer Rabbit. “Only please, Brer Fox, please don’t throw me into the briar patch.”
“If I’m going to hang you, I’ll need some string,” said Brer Fox. “And I don’t have any string handy. But the stream’s not far away, so maybe I’ll drown you instead.”
“Drown me! Roast me! Hang me! Do whatever you please,” said Brer Rabbit. “Only please, Brer Fox, please don’t throw me into the briar patch.”
“The briar patch, eh?” said Brer Fox. “What a wonderful idea! You’ll be torn into little pieces!”
Grabbing up the tar-covered rabbit, Brer Fox swung him around and around and then flung him head over heels into the briar patch. Brer Rabbit let out such a scream as he fell that all of Brer Fox’s fur stood straight up. Brer Rabbit fell into the briar bushes with a crash and a mighty thump. Then there was silence.
Brer Fox cocked one ear toward the briar patch, listening for whimpers of pain. But he heard nothing. Brer Fox cocked the other ear toward the briar patch, listening for Brer Rabbit’s death rattle. He heard nothing.
Then Brer Fox heard someone calling his name. He turned around and looked up the hill. Brer Rabbit was sitting on a log combing the tar out of his fur with a wood chip and looking smug.
“I was bred and born in the briar patch, Brer Fox,” he called. “Born and bred in the briar patch.”
And Brer Rabbit skipped away as merry as a cricket while Brer Fox ground his teeth in rage and went home.
Insurers Profit From Health Law They Fought Against
By Sarah Frier – Jan 5, 2012
Insurance companies spent millions of dollars trying to defeat the U.S. health-care overhaul, saying it would raise costs and disrupt coverage. Instead, profit margins at the companies widened to levels not seen since before the recession, a Bloomberg Government study shows.
Insurers led by WellPoint Inc. (WLP), the biggest by membership, recorded their highest combined quarterly net income of the past decade after the law was signed in 2010, said Peter Gosselin, the study author and senior health-care analyst for Bloomberg Government. The Standard & Poor’s 500 Managed Health-Care Index rose 36 percent in the period, four times more than the S&P 500.
“The industry that was the loudest, most persistent critic of this law, the industry whose analysts and executives predicted it would suffer immensely because of the law, has thrived,” Gosselin said. “There is a shift to government work under way that is going to represent a fundamental change in their business model.”
Health insurers contributed $86.2 million to the U.S. Chamber of Commerce to oppose the law after Obama administration officials criticized the plans for enriching themselves by raising customer premiums.
“We remain very concerned that Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Do you feel like we do, Dr. Who?, - Lost In Space: TOTALLY Discombobulated | Tagged: Aetna, Brer Fox, Brer Rabbit, business, Cigna, Coventry Health Care, economy, enterprise, health, healthcare, Humana, insurance, Medicaid, Medicare, news, Obamacare, profitability, research, UnitedHealth Group, Wellpoint | Leave a Comment »
Posted by Warm Southern Breeze on Friday, October 12, 2012
“Most Districts reported strengthening in existing home sales, while prices were described as steady to increasing, with declining inventories noted in the Boston, Atlanta, Minneapolis, Dallas, and San Francisco Districts.
“Automobile sales were flat over the past six weeks but are up year-over-year.
“Demand for consumer credit remained relatively strong, Read the rest of this entry »
Posted in - Business... None of yours, - Did they REALLY say that?, - Read 'em and weep: The Daily News | Tagged: Atlanta, automobiles, Beige Book, Boston, cars, Dallas, durable goods, economic, economy, Federal Reserve Bank, Federal Reserve Bank of New York, Federal Reserve System, homes, houses, housing, jobs, lending, Minneapolis, money, news, prices, reviews, sales, San Francisco, signs, strengthening, strong, trucks, upswing, uptick | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, October 11, 2012
Jobless Claims in U.S. Fall to Four-Year Low
Fewer Americans than forecast filed first-time claims for unemployment benefits last week, which may reflect difficulty adjusting the data for seasonal swings at the start of a new quarter.
Applications for jobless benefits dropped 30,000 to 339,000 in the week ended Oct. 6, the fewest since February 2008, Labor Department figures showed today. Economists forecast 370,000 claims, according to the median estimate in a Bloomberg survey. One state accounted for Read the rest of this entry »
Posted in - Business... None of yours, - Read 'em and weep: The Daily News | Tagged: Barack Obama, Bloomberg, business, Cummins, economy, Jobless claims, jobs, Labor Department, Mitt Romney, news, Thomas Aquinas, United States, United States Department of Labor | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, October 9, 2012
Regardless whether global climate change is man-made, or cyclical… it’s going to affect us all, and we would be wise to DO SOMETHING to PRESERVE, PROTECT and DEFEND ourselves NOW!
Milk-Cow Drought Culling Accelerates as Prices Jump: Commodities
U.S. milk production is headed for the biggest contraction in 12 years as a drought-fueled surge in feed costs drives more cows to slaughter.
Output will drop 0.5 percent to 198.9 billion pounds (90.2 million metric tons) in 2013 as the herd shrinks to an eight- year low, the U.S. Department of Agriculture estimates. Milk futures rose 45 percent since mid-April and may advance at least another 19 percent to a record $25 per 100 pounds by June, said Shawn Hackett. The president of Boynton Beach, Florida-based Hackett Financial Advisers Inc. correctly predicted the rally in March.
Dairies in California, the top milk-producing state, are filing for bankruptcy, and U.S. cows are being slaughtered at the fastest rate in more than a quarter century. Corn surged to a record in August as the USDA forecast the smallest crop in six years because of drought across the U.S. Global dairy prices tracked by the United Nations rose 6.9 percent last month, the most among the five food groups monitored, and that will probably mean record costs next year, Rabobank estimates.
“Farmers can’t afford to buy as much grain and protein, and that affects milk production,” said Bob Cropp, an economist at the University of Wisconsin in Madison who has been following the industry since 1966. “In California, there’ve been some foreclosures and some sell-off of cows quite heavily. You’re going to see that in other parts of the country.”
Class III milk, used to make cheese, jumped 22 percent to $21.05 on the Chicago Mercantile Exchange this year. That’s more than 21 of the 24 commodities in the Standard & Poor’s GSCI Spot Index, which rose 1.8 percent. The MSCI All-Country World Index (MXWD) of equities climbed 12 percent, and Treasuries Read the rest of this entry »
Posted in - Business... None of yours, - Even MORE Uncategorized!, - Read 'em and weep: The Daily News | Tagged: Bank of America, beverage, business, California, cheese, Chicago, Chicago Mercantile Exchange, children, climate, Climate change, Congress, corn, dairy, Dairy cattle, draught, drink, economy, entrepreneur, family, farmer, farmers, farming, food, grocery, jobs, market, milk, news, production, profitability, science, Starbucks, trucking, United Nations, weather | Leave a Comment »
Posted by Warm Southern Breeze on Tuesday, October 9, 2012
Jay Levy, Part of ‘Dynasty’ That Forecast 2008 Crash, Dies at 90
Jay Levy, who worked with his father, then his son, to publish an economics-forecasting newsletter, now in its seventh decade, that predicted the collapse in housing and latest recession, has died. He was 90.
He died on Oct. 4 at Northern Westchester Hospital in Mount Kisco, New York, according to his son, David. The cause was pneumonia. A resident of Somers, New York, he had suffered a series of mini-strokes in recent years.
The Levy Forecast, founded in 1949 as Industry Forecast, bills itself as the oldest paid newsletter devoted to economic analysis in the U.S. It is published by the Mount Kisco-based Jerome Levy Forecasting Center LLC, of which Levy was most recently senior counsel and managing director. The center carries the name of his father, Jerome, who died in 1967. Jay Levy’s son, David Levy, is chairman. They were part of what Forbes magazine, in 1983, called “a kind of economic dynasty.”
Levy and his son were “right as rain” in predicting the financial crisis and recession that began in 2007-2008, Alan Abelson wrote in Barron’s in January 2009.
Among the red flags they had raised was this from the November 2005 Levy Forecast:
“Just as the last recession was caused by Read the rest of this entry »
Posted in - Did they REALLY say that?, - Read 'em and weep: The Daily News, End Of The Road | Tagged: business, City College of New York, David Levy, Decision making, economics, economy, entrepreneurs, Forbes, Free Market, Great Depression, Great Recession, Hedge fund, Jay Levy, jobs, Leon Levy, Levy, market, New York | Leave a Comment »
Posted by Warm Southern Breeze on Thursday, October 4, 2012
NOW OR NEVER | SEPTEMBER 2012
Necessary but Not Sufficient:
Why Taxing the Wealthy Can’t Fix the Deficit
By David Brown, Gabe Horwitz, and David Kendall
In this paper we shatter the myth that taxes on the wealthy can come close to solving our long-term budget problem. We readily acknowledge that raising taxes on top earners is necessary, but it is not sufficient to solve the looming fiscal crisis. And we make clear that if entitlements are left on autopilot, burdensome middle class tax hikes become inevitable.
Even a 50% tax rate on the wealthy can’t fix the deficit.
This is the first in a pair of papers that demonstrate that purely ideological fixes will not sufficiently address our fiscal issues. Our other report, Death by a Thousand Cuts: Why Spending Cuts Alone Won’t Fix the Deficit, proves that a cuts-only strategy cannot solve our budget woes without severely compromising our safety, security, and economic growth. Together, these papers make the case that a big and balanced fiscal package is the preferred way to avoid the fiscal cliff, prevent deficits from exploding in the future, and allow our economy to grow.
To stabilize the debt and create a positive economic climate for U.S. growth, most mainstream economists agree that annual deficits must be reduced to 3% of GDP. The question is: how do we get there?
In order to demonstrate that taxes alone cannot solve our budget woes, we explore three budget scenarios, all of which rely solely on Read the rest of this entry »
Posted in - Even MORE Uncategorized!, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: analysis, Buffett Rule, Bush, Bush Tax Cuts, Clinton, David Kendall, debt, deficit, Democrats, economy, federal, fiscal policy, GDP, GOP, governance, government, Government budget deficit, Gross domestic product, GW Bush, income, national debt, policy, Republicans, research, tax, tax increase, tax policy, Tax rate, Taxation, taxes, United States federal budget | Leave a Comment »
Posted by Warm Southern Breeze on Friday, September 14, 2012
Gonna’ get yours?
The iPhone Stimulus
By PAUL KRUGMAN, September 13, 2012
Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they’re with.
So is the new phone as insanely great as Apple says? Hey, I’ll leave stuff like that to David Pogue. What I’m interested in, instead, are suggestions that the unveiling of the iPhone 5 might provide a significant boost to the U.S. economy, adding measurably to economic growth over the next quarter or two.
Do you find this plausible? If so, I have news for you: you are, whether you know it or not, a Keynesian — and you have implicitly accepted the case that the government should spend more, not less, in a depressed economy.
Before I get there, let’s talk about where the buzz is coming from.
A recent research note from JPMorgan argued that the new iPhone Read the rest of this entry »
Posted in - Uncategorized | Tagged: Apple, business, David Pogue, depression, Economic growth, economics, economy, Economy of the United States, enterprise, Great Depression, Great Recession, iphone, iPhone 5, John Maynard Keynes, JPMorgan Chase, Keynesian economics, Paul Krugman | 2 Comments »
Posted by Warm Southern Breeze on Tuesday, September 11, 2012
As the president and others – nonpartisan and partisan alike – have noted, BIG BUSINESS should NOT need a bailout. They should be operated in such a manner as to allow the Free Market to decide how, to what extent, and if they prosper. As part of that process, ironclad and strong regulation to prevent fraud and abuse should be vigorously enforced. And chief executives Read the rest of this entry »
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Posted by Warm Southern Breeze on Monday, September 10, 2012
Investing in economic infrastructure is ALWAYS a sound decision because
1.) Materials and Manpower ALWAYS comes from the private sector (and always will), and;
2.) Economic capacity and economic opportunity expands.
Note also these two remarks:
“Corporations won’t hire more workers just because their tax bill is lower and they spend less on regulations. In case you hadn’t noticed, corporate profits are up. Most companies don’t even know what to do with the profits they’re already making. Not incidentally, much of those profits have come from replacing jobs with computer software or outsourcing them abroad.
“Meanwhile, the wealthy don’t create jobs, and giving them additional tax cuts won’t bring unemployment down. America’s rich are already garnering a bigger share of American income than they have in eighty years. They’re using much of it to speculate in the stock market. All this has done is drive stock prices higher.”
The Biggest Economic Challenge of Obama’s Second Term
Monday, September 10, 2012
The question at the core of America’s upcoming election isn’t merely whose story most voting Americans believe to be true – Mitt Romney’s claim that the economy is in a stall and Obama’s policies haven’t worked, or Barack Obama’s that it’s slowly mending and his approach is working.
If that were all there was to it, last Friday’s report from the Bureau of Labor Statistics showing the economy added only 96,000 jobs in August – below what’s needed merely to keep up with the growth in the number of eligible workers — would seem to bolster Romney’s claim.
But, of course, congressional Republicans have never even given Obama a chance to try his approach. They’ve blocked everything he’s tried to do – including his proposed Jobs Act that would help state and local governments replace many of the teachers, police officers, social workers, and fire fighters they’ve had to let go over the last several years.
The deeper question is what should be done starting in January to boost a recovery that by anyone’s measure is still anemic. In truth, not even the Jobs Act will be enough.
At the Republican convention in Tampa, Florida, Romney produced Read the rest of this entry »
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