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Money & The Economy

News on Finance, Money, markets and the economy

Unemployment: Tinkering with the Numbers?

Did you watch the news last week?  A miracle fell into the lap of the president. Three precious weeks before the hotly contested presidential election the ‘newly unemployed’ claims dropped to an unexpected low. Coupled with the surprising unemployment decline these numbers were heralded by the left as a sure sign this was truly the beginning of the recovery and ...

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2013 Medicare premium increase will cut into COLA for Seniors

The anticipated 2013 1.7% cost-of-living adjustment (COLA) for Social Security recipients will likely be wiped out by an expected 7-9% in Medicare part B premiums next year. Private analysts expect the $99.90 part B premium for incomes up to $85,000 to rise by as much as $9 while the government’s projection anticipate a $7 per month increase. At around $100 ...

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U.S. Retail Sales Rise on Gas, Auto Spending and iPhone Sales

Seasonally adjusted U.S. Retail Sales rose in September by 1.1%, slightly slower than August’s 1.2% and largely fueled by iPhone 5 and automobile purchases. The actual sales in autos dropped by $30 million when not seasonally adjusted, but with the adjustment, almost $4.5 million more was spent on cars in September than in August. Sales in electronics dropped from $8.1 milllion ...

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Yes, budget cuts can help the economy

The left tells us that there is no way to keep the economy going if federal spending is reduced – they are wrong. On a simplistic and illogical level sure, taking any money out of the economy might shrink it, but that is the same short-term thinking that has led to a non-recovery from the prior recession, lackluster employment and ...

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I.M.F. meeting concludes with dire economic outlook and pleas to the U.S.

In a comuniqué from the I.M.F. at the conclusion of it’s twenty-sixth meeting, the International Financial and Monetary Committee (IFMC) said that global growth is slowing and “substantial downside risks remain” while pleading with U.S. leadership to resolve it’s debt crisis sooner, rather than later. The policy-setting body of the I.M.F., the I.F.M.C, said that while central bank measures so ...

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FBI: ‘large amount’ of next generation $100 bills stolen in transit

FBI spokesman Frank Burton said that someone stole “a large amount”  of $100 bills while in transit from Dallas to New Jersey on Thursday. The bills are the re-designed $100 bills slated for release into circulation in 2013 that feature gold “100”‘s on both sides of the bill and the liberty bell on the front. The spokesman said that the ...

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The First 12 Hours of a US Dollar Collapse

At this point it really is a matter of “when, not if”. I look into a possible scenario if we do not get our entitlements under control. Educate yourself before time runs out.

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Questionable jobs report: Unemployment hits 7.8% in September “Unexpectedly”

Despite slowing job growth, strangely, the key unemployment rate fell .3% to 7.8% due to an unexpected upward 86,000 job revision by the Department of Labor. Secretary Solis spent the morning defending the rosy unemployment rate that is based on questionable revisions. Upwardly revising public sector employment  by tens of thousands of jobs in the report out just after her ...

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Barack Obama Continues to Lie About Taxes – Part 2

Part 1 can be seen here: http://www.conservativedailynews.com/2012/09/barack-obama-continues-to-lie-about-taxes-part-1 Let me start by saying that my grandmother used to tell me that if any part of anything I say is a lie, if there is anything that can be pulled out that isn’t true… then I’m lying. Keep that in mind. Deceit is deceit. Well, what about hypocrisy? The quick answer: There ...

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GDP drops, manufacturing takes nosedive

The Department of Commerce released its National Income and Product Accounts report this morning which showed the economy declining much faster than analysts had expected. Despite steady government spending, the second quarter Gross Domestic Product (GDP) came in much lower than Q1 and strongly down from analysts expectations. The first quarter GDP came in at 2.4% growth and the second ...

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Businesses: Government a Barrier, Not a Help, to Economic Growth

The National Association of Manufacturers (NAM) and the National Federation of Independent Business (NFIB) today announced the results of a nationwide survey of small businesses and manufacturers. The results cast a harsh light on the state of the U.S. economy six weeks before Election Day. The poll, conducted by Public Opinion Strategies (POS), surveyed 800 small business owners, manufacturers and ...

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Barack Obama Continues to Lie About Taxes – Part 1

I’ve written about this often: It seems that President Obama is taking the “throw it at the wall and see what sticks” approach to his campaign ads. This means that he is making claims, regardless of how false they are, and hoping they get enough viewership without the average American even checking on the validity of these claims themselves. Team ...

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U.S. Drops to 18th in Economic Freedom

If you’re a Canadian, you should be happy.  Our friendly neighbors to the north are riding high with their recent placement on the Economic Freedom chart at number five.  Meanwhile, the United States dropped ten spots to number eighteen on the scale.  Gateway Pundit posted about this story on September 19 citing The National Post which reported that: The annual Economic Freedom ...

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