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Money & The Economy

News on Finance, Money, markets and the economy

Highest Ever Gas Prices for January

AURORA, Ill., Jan. 18, 2011 /PRNewswire/ — AAA Chicago’s most recent Fuel Gauge Report estimates that in Illinois, regular unleaded gasoline has increased $.16 during the past month, forecasting an average cost of $3.22 per gallon for the month of January, which is $.38 higher per gallon than last year. In northern Indiana, gas prices average $3.09, which is up ...

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Deflation or Inflation? Yes

Since the beginning of the “Great Recession” that Americans still find themselves in, there have been prognostications of incredible inflation while other “experts” claim that crippling deflation would be the necessary outcome.  Could they both be right? Perhaps – there are two major forces at play in our economy right now: price inflation and income deflation. Price inflation Commodities are ...

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Economist Survey Finds Slow Growth Ahead for 2011

ARLINGTON, Va., Jan. 3, 2011 /PRNewswire-USNewswire/ — The recovery will pick up steam in 2011, but growth will remain moderate, according to the consensus forecast of 25 economists surveyed for legal and business publisher BNA’s annual outlook on the U.S. and international economy. Both inflation and the Federal Reserve’s target interest rate are expected to remain low. A self-sustaining expansion will hinge on ...

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U.S. Manufacturing Strongest in the World – For Now

For decades Americans have been battered with messages around the demise of the United States manufacturing sector.  Some state concerns of too much of a shift to services, which is said to produce nothing.  Is goods manufacturing really fading in the U.S.? IHS Global Insight, an economics consulting firm, has published a ranking of the manufacturing output of the leading economies, and to ...

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Social Justice Sophisticates Assault Prosperity

Leaders that value self determination and independence are denigrated by those who idolize the memory of a former president who said “Ask not what your country can do for you”—and then lowered taxes. John F. Kennedy allowed people more freedom and control over their lives, which conflicts with grandiose notions of governmental entitlement. He certainly knew that helping those in ...

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When Corn Prices Rise Our Government .. Regulates Food

Welcome to Bazaaro-world – otherwise known as the United States with a liberal Congress. A November 18th Bloomberg article illustrates what’s happening: China’s State Council said on its website yesterday that price caps will be used on “important daily necessities” and production materials, if necessary. U.S. soybean inventories before next year’s harvest will be 30 percent less than forecast in ...

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Get ready for Obama’s Taxes

“Spectacles, testicles, watch and wallet.” – Yeah, that’s it! That’s a pretty good interpretation of the opening verse of Michelle Obama’s prayer to the spirits as she is busy cleaning them up. I can’t argue with that verbiage – it expresses the very essence of redistributive change. They cover it all; up top, down below, up front, and backside. They’ve ...

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Fed Proposing Carter Era Inflationary Policy to Fix Economy

You’d think Paul Volcker was in the driver’s seat again.  While he’s no longer running the Fed, perhaps his leadership as the President’s chief economic advisor is giving him more of a voice than any of us want. In his turn at the Fed, it was Volcker that pushed for the massive and crippling inflation that many of us remember ...

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Wreckovery Wednesday – It’s Not Getting Better Out There

We’ve been hearing that the situation in America is improving, albeit slowly.  It would appear, that they are not improving .. at all.  It’s time for a new strategy. Goldman Sachs Says U.S. Economy May Be `Fairly Bad’ Goldman Sachs Group Inc. said the U.S. economy is likely to be “fairly bad” or “very bad” over the next six to ...

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New Video Debunks Claim that Tax Hikes are Required to Balance the Budget

First we have to deal with this absolute mis-information campaign from the White House Blog.  Where they try to show that they really aren’t that evil for considering enacting the largest tax increase in American history: Obama’s Tax Hike of January 1st, 2011. One of the major points that they try to make with the blog entry is that we ...

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Congress to Enhance Smoot-Hawley – Protectionist Cause of the Great Depression

Smoot-Hawley was officially named the “Tarrif Act of 1930”.  The act raised or enacted tariffs on over 20,000 imported goods. This incredibly protectionist move is largely credited with creating the Great Depression.  Our current leadership thinks we should try it again. In a Wall Street Journal article the point is made that we may be headed into another Great Depression. ...

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Lies and Sighs: Unemployment is NOT down

Just a few weeks ago, I reported that unemployment has been the same since the beginning of the year.  SURPRISE:  it’s still the same, despite main-stream media reports that it has gone down. How could I say such a thing?  How could I refute the media?  Why would they lie? Actually, they aren’t really lying, just being deceitful.  Here is the ...

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Jobless Situation Unchanged Since March – Real Analysis on the Unemployment Numbers

Oh the media.  Every outlet has been totally abuzz about the drop in initial jobless claims reported by the Department of Labor today.  It was only a reduction of 3,000 people, but that’s not where they failed to do their homework- the 450,000 number .. is THE SAME as it was back in March and before.  That means that things ...

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Huffington Attacks Obama on Economy, but Misses the Mark

Arianna Huffington may have gone off the reservation.  In her article titled “Obama Insists He Made ‘The Right Decisions’ on the Economy – The Struggling Middle Class Begs to Differ”, Arianna tells it like it is: In his otherwise excellent speech in Cleveland on Wednesday, the president showed that, when it comes to the plight of the middle class, he ...

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Dodd-Frank: A Nightmare On So Many Levels

Senators Barney Frank and Chris Dodd put together yet another progressive nightmare for our marginally free-market system. Granted the thought of those two alone in a dark corner is nausea-inducing, that’s not where I’m going. The Dodd-Frank bill, otherwise known as the “Wall Street Reform and Consumer Protection Act” neither reforms Wall Street nor protects consumers (who should really need ...

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