zerohedge.com / By Tyler Durden / June 5, 2013, 08:27 -0400
By now it is futile to point out the woeful inability of the ADP report to predict the NFP’s ARIMA X 12 output of pure noise so we’ll leave it at that. Here is the headline: May private payrolls created 135K [...]
caseyresearch.com / By Chuck Butler / April 23, 2013, 1:27pm GMT
Good day. And a Tom Terrific Tuesday to you! Well, it looks like it’s back to one of those Risk Off Days today. UGH! Not that one day of trading makes a trend, it’s just that I thought we had passed the days of [...]
mises.org / By Llewellyn H. Rockwell Jr. / Monday, April 15, 2013
April 15th is a horrible day, because it sums up all the wealth destruction called taxation that we are subjected to all year long.
As Murray Rothbard pointed out, taxation is the worst method of looting us. Inflation is destructive, of course, and [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Sunday, April 07, 2013 8:12 PM
As expected, Brussels rejected the Inane Plan “B” Measure to Pay Workers in T-Bills following a Portuguese court ruling that certain austerity measures are unconstitutional.
Reuters reports Portugal must stick to agreed budget targets to get loan extension.
telegraph.co.uk / By Richard Blackden / 2:54PM BST 05 Apr 2013
US jobs growth slowed sharply last month, bringing to a halt the recent improvement in the economy’s labour market.
America created 88,000 jobs in March, according to a report from the Bureau of Labor. That is less than half the 190,000 [...]
zerohedge.com / By Tyler Durden / 04/01/2013 18:09
If the suffering, yet docile, Cypriot serfs thought deposit confiscation would be the end of their problems under the European feudal system, they are about to be shocked. Because as part of their banking sector bailout, the country is set to get a “loan” [...]
dailyreckoning.com / By Patrick Cox / March 25, 2013
Watching this administration pretend that refusing to raise the debt ceiling is the federal government’s real problem — rather than its spending — is simply surreal.
All the major players pushing for more debt, including the president, said exactly the opposite just a few years [...]
thedailybell.com / By Frank Suess / March 8, 2013
“Financial markets are not yet pricing in US over-indebtedness. If they did, the world would be heading towards a ‘blood-red abyss’.”
~ Professor Laurence J. Kotlikoff
Over the past few months, the economies of industrial nations have continued to shrink. The economic data [...]
zerohedge.com / By Tyler Durden / 03/10/2013 04:40
Sequesters; continuing resolutions; “spending brakes”; government shutdowns; fiscal restraint….. austerity. For all the ceaseless talk about the “prudent”, “responsible” action out of Congress, even if it is a result of the president-proposed, and Congress endorsed automatic spending cuts enacted as a result of the August 2011 debt [...]
cnn.com / By Mike M. Ahlers, CNN / updated 5:28 AM EST, Fri March 8, 2013
(CNN) — The U.S. government on Thursday notified 60,000 federal workers responsible for securing borders and facilitating trade that they will face furloughs due to government-wide spending cuts.
Customs and Border Protection said it expects furloughs and other austerity [...]
usnews.com / By ANDREW TAYLOR and DAVID ESPO / March 6, 2013
WASHINGTON (AP) — Republicans pushed legislation through the House on Wednesday to prevent a government shutdown this month while easing the short-term impact of $85 billion in spending cuts — at the same time previewing a longer-term plan to erase federal deficits without [...]
zerohedge.com / Tyler Durden / March 6, 2013, 10:27 -0500
Following the earlier laughable seasonally adjusted ADP data (because for some reason Mark Zandi does not find it necessary to supplement his report with the unadjusted data), courtesy of which the gullible public was supposed to believe that in February as small businesses were running [...]
brucekrasting.com / By Bruce Krasting / March 5, 2013
The Office of Management and Budget (OMB) has come out with a detailed breakdown of the spending cuts associated with the sequester (LINK). This is one hell of a document, it runs 83 pages.
Those who believe that government is too big should spend some [...]
zerohedge.com / by Tyler Durden / 03/01/2013 15:37 -0500
Today is the day when, if one listens to Obama whose idea it was in the first place, an unprecedented $85 billion spending cuts will be sequestered, unleashing famine, pestilence, the apocalypse and grizzly bears (as all park rangers will be dead from [...]
armstrongeconomics.com / By Martin Armstrong / March 1, 2013
I just got off the phone with REAL contacts on Capitol Hill. John Boehner is a country-club-Republican who stands for nothing of any true substance. He will cut a deal for the sake of cutting deals and believes you can split the difference over golf. [...]
teapartyeconomist.com / by Gary North / February 26, 2013
We have head about the trillion dollars in automatic spending cuts. It’s headline news.
That’s part of the decade flim-flam. The government always reports one full decade’s cuts. But it never, ever mentions in these reports regardung the Congressional Budget Office’s estimate of total federal [...]
armstrongeconomics.com / By Martin Armstrong / February 21, 2013
Tens of thousands of anti-austerity demonstrators, who were members of the pro-communist union PAME, gathered during a protest in Athens on Wednesday, Feb. 20, 2013. Perhaps 40,000 filled the streets of Athens as unions staged a massive general strike to protest government spending cuts and [...]
testosteronepit.com / By Wolf Richter / February 20, 2013, 7:15PM
“Preventing future acts of international terrorism” is the most critical foreign-policy goal for Americans, according to Gallup. Next priorities: proliferation of nuclear weapons, energy supply, favorable trade policies, etc. Fighting off Soviet tanks rumbling towards Frankfurt didn’t make the list. Yet Congress, [...]
financialsense.com / By Russ Winter / Fenruary 19, 2013
“There won’t be any easy off-ramps on this one. The days of 11th-hour negotiations are over.”-Sen. Mitch McConnell, GOP Senate Minority Leader
Increasingly, I feel as if I am Alice in Wonderland and have serious concerns about the fifth estate. One has to be a [...]
testosteronepit.com / By Wolf Richter / February 17, 2013
Last year, the government extracted $1.1 trillion in taxes from us more or less hardworking individual taxpayers. But now it will pay, along with the states, $429 million of our taxes to the coolest Silicon-Valley beauty queen: Facebook. In net tax refunds! Part [...]
silverdoctors.com / By Morris Hubbartt / February 16, 2013
Fundamentally, the US dollar is at great risk. Even if politicians make headway in spending cuts in the coming months, it won’t stop the debt from growing. According to CNS news, about 11,000 people sign up for the Supplemental Assistance Nutrition Program (food stamps) every day. [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Sunday, February 10, 2013 6:28 PM
Republicans don’t want military spending and Democrats don’t want cuts in social programs. The best thing to do would be doubling or tripling the cuts, but compromise tends to work in the other direction.
Thus one should not be surprised by [...]
caseyresearch.com / By Chuck Butler / February 7, 2013 1:27pm GMT
Avoiding Spending Cuts, Our Specialty!
Good day. And a Tub Thumpin’ Thursday to you! Van Morrison is greeting me this morning as I kick the day off, and he’s singing his great song, Into the Mystic. We received some sad news yesterday. One [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Wednesday, February 06, 2013 12:37 PM
Government Executive reports House passes balanced budget bill.
The House on Wednesday passed legislation that directs President Obama to submit a balanced budget plan to Congress this spring.
The Require a Plan Act (H.R. 444) compels Obama to [...]
globaleconomicanalysis.blogspot.com / By Mike “Mish” Shedlock / Tuesday, February 05, 2013 12:16 PM
Here we are once again. In spite of $trillion deficits as far as the eye can see, neither Obama nor the Democrats want to do anything about it.
Please consider Obama to Urge Congress to Delay Automatic Spending Cuts
President Barack [...]
US federal debt: for now sans ceiling. not that it makes much of a difference … via St. Louis Federal Research
acting-man.com / By Pater Tenebrarum / January 23, 2013
Ceiling, noun, 5: an upper, usually prescribed, limit (Merriam-Webster Dictionary)
According to the US Congress, a ‘ceiling’ is now whatever you want it [...]
commoditytrademantra.com / By Rajesh J. Shah / January 23, 2013 @ 3:48 pm
Gold and Silver Prices rush to the upside each time that the US goes deeper into debt. Gold Futures are trading near the highest level in more than a month before US House Republicans vote on suspending the debt limit [...]
zerohedge.com / By Tyler Durden / January 15, 2013, 19:55
After more than two months of political grandstanding, finally the $60 billion pork-laden Sandy relief aid bill has passed through the House in a 241-180 vote (with 1 democrat and 179 republicans voting no), with the vote passing courtesy of just 49 [...]
caseyresearch.com / By Bud Conrad / January 11, 2013
The label “the fiscal cliff” evoked the fear that something terrible was about to happen if the previously legislated spending cuts and tax increases came into effect. From my point of view, our nation’s deficits and debt are growing at an alarming rate and need to [...]