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Money & The Economy

News on Finance, Money, markets and the economy

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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President Oba….. Errrr… Clinton Presents Plan To Fix Job Crisis

Have we been thrust back in time by some twist of fate or magical time machine? Surely we have! When last I looked, Barack Obama was President of The United States of America- unfortunately. However, President Bill Clinton has just unveiled his 14 point plan to fix the job crisis we are facing. Shouldn’t this have been something President Obama ...

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What’s wrong With the Rich

The rich are the least understood minority.  That fact lends them to be vilified by the very politicians at the root of our serious economic problems. The facts are: The rich take risks with their money.  When they invest their expendable income, they are risking the loss of that income.  Often the rich loose a great deal of money in failed ...

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Massive Overhang of Existing Homes Putting Downward Pressure on U.S. Home Prices and Demand

LOS ANGELES, June 16, 2011 /PRNewswire/ — A massive inventory of existing homes is dampening the recovery in the U.S. housing sector according to Brendan Lowney, macroeconomist with Forest Economic Advisors (FEA). Lowney estimates excess home inventories at 2.5 million. He says that this oversupply has put downward pressure on home prices, which in turn has caused a variety of undesirable effects, such ...

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Mortgage Rates Reverse Course

NEW YORK, June 16, 2011 /PRNewswire/ — Mortgage rates increased this week, following a nine-week streak of declines. The benchmark conforming 30-year fixed mortgage rate is now 4.71 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.41 discount and origination points. The average 15-year fixed mortgage jumped up to 3.86 percent and the larger ...

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MSSC Joins President Obama In An Effort to Credentialing 500,000 Manufacturing Workers

ALEXANDRIA, Va., June 15, 2011 — President Obama last week announced an initiative to credential 500,000 manufacturing workers with industry-recognized certifications through an expansion of Skills for America’s Future. He stated that this would be implemented through a close partnership between industry, education and the National Association of Manufacturers. As one of the Founding Members of the national Manufacturing Skills ...

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Did President Obama Learn Anything While in Puerto Rico ?

  President Barack Hussein Obama recently took his 2012 reelection campaign to the island of Puerto Rico in an attempt to corrall the Puerto Rican vote here in the States. The question is did he learn anything while there from the current Governor of Puerto Rico, Luis Fortuno. Governor Fortuno was elected in the 2008 elections and recieved over 220,00 votes, ...

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Breitling Oil and Gas Announces Exploration in Louisiana

IRVING, Texas, June 14, 2011 — Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced that it has spud the Breitling-Sandy Run #1 prospect in St. Helena Parish, Louisiana on June 12, 2011. The Breitling-Sandy Run #1 is a 3800′ well and is targeting Miocene Sands which showed seismic amplitude anomalies on a ...

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Mortgage Banking Giant Agrees to Pay Homeowner $30,000 as Part of Settlement Agreement

With pending counterclaims of fraud and predatory lending, Deutsche Bank agrees to pay defendant $30,000 and issue a letter to correct credit to settle a New Jersey foreclosure action PHILADELPHIA, June 14, 2011 — Shaffer & Gaier, LLC announced today that its client has agreed to a $30,000 cash settlement with Deutsche Bank in an action filed by the banking ...

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The Country Needs a Plan for Growth and Texas Has the Answers

The Lone Star State is a symbol of success for free-market policy. Austin Local Me reported in May that Texas created more jobs than the eight other states that created any jobs at all combined according to Bureau of Labor Statistics. Nine states, including Texas, had more jobs in March 2011 than in that month five years earlier. And Texas’ gains ...

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Governor Scott Secures New Canadian Company HQ for Florida

In the following press release*  Governor Scott announces that Garda Security of Montreal, Canada will be relocating their U.S. Headquarters to Boca Raton Florida from California. Citing Florida’s recent business-friendly atmosphere, Garda President and CEO Stephan Cretier stated: “We have been extremely impressed with the vibrant business climate that the state of Florida is working to create. We appreciate the cooperation ...

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