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Money & The Economy

News on Finance, Money, markets and the economy

Consumer Reports Taste Tests the Best Cups of Joe

YONKERS, N.Y., Aug. 2, 2011 /PRNewswire-USNewswire/ — Consumer Reports brewed over 1,000 cups of coffee to deem two new champs among Colombian varietals in the latest issue available on newsstands today. Gloria Jean’s Colombian Supremo Medium Roast and Newman’s Own Organics Colombian Especial Medium Roast beat Consumer Reports top pick from the March 2009 report, Eight O’Clock Coffee. The former champ delivered less flavor than in past tests even ...

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Correcting Bad Economics

I was recently added to a political discussion group and while the topics covered are interesting, the premise of the group is faulty and based on some skewed version of history and economic theory. In this article, we will pull apart the mission statement and note the major inaccuracies, since they are prevalent in many other debates. “In the aftermath ...

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BATS 1000 Index Declines 4.1% This Week

8YXE2AT7XSTS KANSAS CITY, Mo., July 29, 2011 /PRNewswire/ — BATS Global Markets, a global stock market operator, reports the BATS 1000(SM) Index (Ticker: BATSK) down 4.1% for the trading week ending July 29. The S&P 500 Index declined 3.9% on the week. The BATS 1000 Index ended the trading week down 630.08 points to close at 14,774.48 as of 4 p.m. ETtoday. The Industrials and ...

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BEA Releases Revised 1st Quarter and Initial 2nd Quarter GDP

Bureau of Economic Analysis//  Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), according to the “advance” estimate released by the Bureau of ...

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Mortgage Rates Inch Higher

NEW YORK, July 28, 2011 /PRNewswire/ — Mortgage rates turned course this week with the benchmark conforming 30-year fixed mortgage rate rising to 4.74 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.35 discount and origination points. The average 15-year fixed mortgage moved up to 3.83 percent, as did the larger jumbo 30-year fixed ...

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Unemployment Claims Lowest Since April

A Bureau of Labor statistics report announced that first-time applications for unemployment benefits fell to below 400,000 for the first time in three months. At 398,000, the drop has gone under the mark that many analysts feel signals recovery in the job market. No extenuating circumstances were noted in the labor report as to why the number came in so ...

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High Inflation and Low Investment Hampers Recovery

LONDON, July 27, 2011/PRNewswire/ —  Rising inflation and flat investment have kept the world’s economic recovery stuck in reverse, the latest Global Economic Conditions survey from ACCA (the Association of Chartered Certified Accountants) has shown. Of the 2,186 ACCA members surveyed between 16 May and 6 June 2011, only 26% reported increased confidence, down from 28% three months ago, with ...

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Florida Real Estate Takes Double Dip

Government programs ending, new foreclosures starting, zombie foreclosures coming back to life and Florida’s weak employment base all add up to bad news for Florida’s real estate market for the next few quarters, says Roy Oppenheim in a video interview WESTON, Fla., July 26, 2011 — Foreclosure is the new “F” word and it’s back with a vengeance as Florida foreclosure defense ...

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Dodd-Frank: A Year Of Uncertainty

WASHINGTON, July 21, 2011 /PRNewswire-USNewswire/ — The following was released today by the Republican National Committee: OBAMA SAID DODD-FRANK WOULD PROVIDE “CERTAINTY TO EVERYONE” BUT BUSINESSES ARE OPERATING IN “AN ENVIRONMENT OF REGULATORY UNCERTAINTY” PROMISE: President Obama Said That Dodd-Frank “Provides Certainty To Everyone From Bankers To Famers To Business Owners To Consumers.” “It provides certainty to everyone from bankers to farmers to ...

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Shoppers Change Buying Habits in Response to Shrinking Package Sizes, Higher Prices

NEW YORK, July 19, 2011 /PRNewswire/ — Pay more, get less. This is the scenario that’s increasingly playing out at grocery stores across the country — and a majority of food shoppers are taking note according to Deloitte’s new “2011 Consumer Food and Product Insight Survey.” Nearly 9 in 10 survey respondents (87.7 percent)believe prices in food stores are escalating and almost three-quarters ...

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Selling Ice to Eskimos

A Georgia company that makes chopsticks is not only growing rapidly, but is exporting chopsticks to foreign countries. Georgia Chopsticks is located in Americus, Georgia, just a couple of hours south of Atlanta. The owner, Jae Lee, said that his company is producing about two million chopsticks a day and is exporting them to China and Japan in huge numbers. ...

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Tax Expert’s Advice: Don’t Count on Social Security

BRENTWOOD, Tenn., July 1, 2011 — According to a poll taken earlier this year, 77 percent of voters think Social Security is in danger. Fewer Americans, however, approve of increasing the retirement age. Voters were split on permitting people to invest their Social Security taxes into personal retirement accounts. Tax expert Dr. Friday, aka “The Tax Doctor,” falls into the ...

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The Entrepreneur is the True Economic Engine

President Obama feels it’s not too radical to ask corporate jet owners and millionaires to pay higher taxes. As our government bureaucrats express their ability to create jobs, they actually hinder the true job creators. These oracle geniuses conveniently fail to recognize the entrepreneur as the true economic engine to our economy. Whether it is the gas station owner, the ...

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Study Reveals Impact of Real Estate ‘Shadow Inventory’ on Recovery

ATLANTA, June 30, 2011 /PRNewswire/ — Despite steady gains in key industry sectors, the nation’s housing market continues to exert pressure on the overall rate of economic recovery. While financial conditions across multiple financial sectors suggest economic stabilization and growth, delinquencies still exceed pre-recession levels due to continued turbulence in the mortgage marketplace, according to Equifax (NYSE: EFX) national credit trend research for May ...

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Consumer Confidence Index Declines Again – Second Recession Probable

NEW YORK, June 28, 2011 — The Conference Board Consumer Confidence Index continued its multi-month decline in June. After having decreased to 61.7 in May the economic index hit 58.5 this month indicating that consumers are feeling the onset of a second, or double-dip, recession. Director of The Conference Board Consumer Research Center Lynn Franco said, “This month’s decline in consumer confidence was ...

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