NewsRack: newstrust/US-Economy/Recession

Ports of L.A., Long Beach expected to see imports surge - LA Times: Business

Mon, 08 Feb 2010 18:30:00 GMT

Ports of L.A., Long Beach expected to see imports surge

Vail Valley Voices: It really is about the jobs - Vail Colorado: Columnists

Sal Bommarito Vail, CO Colorado — Mon, 08 Feb 2010 18:30:00 GMT

The people of Massachusetts have spoken for the entire country and have effectively ended the Obama political tsunami. The victory of a Republican for an open Senate seat will likely mark the end of the mismanaged, unappreciated and ill-conceived health care bill, as Democrats have lost their filibusterproof majority in the Senate. What lies ahead for the fledgling administration for the balance of this year and the elections in November? And what can the president do to right the situation? The Democrats are now on a steep downward slope as a result of the election of Republican Scott Brown in Massachu-setts, along with two devastating gubernatorial losses in 2009. Already, the leaders of the party are playing the blame game about the ...

Ryan’s Roadmap - Red State

() — Sun, 07 Feb 2010 18:30:00 GMT

Jed Babbin has the top story at Human Events today. Yes, George W. Bush spent too much and proved redundantly that the term “big government conservative” is an oxymoron. And yes, when Bush left office our economy was in trouble. But how long will Obama claim that the only way for our economy to recover is to continue a spending spree that will leave us unable to recover from government debt? Apparently, forever. In his State of the Union speech, Obama said, “One year ago, I took office amid two wars, an economy rocked by a severe recession, a financial system on the verge of collapse, and a government deeply in debt. Experts from across the political spectrum warned that if we did not act, we might face a second depression. So we acted ...

Tough Times Are Boom Times For Scams - Forbes.com: News

William P. Barrett — Mon, 08 Feb 2010 18:30:00 GMT

Complaints abound as con artists, often using the Web, target the down and out.

My Theory’s Great, Except for the Times It Doesn’t Work - The Atlantic - Matthew Ygblesias

myglesias — Sun, 07 Feb 2010 18:30:00 GMT

John Cassidy brings up a 1996 interview he conducted with Paul Samuelson: “Inexact sciences like economics advance funeral by funeral,” Samuelson said, and he brought up one of his teachers at Chicago, Frank Knight, a brilliant scholar who is today remembered primarily for the distinction he drew between risk, which can be assessed in probabilistic terms, [...]

Stop the Green Tech Coup, Military Industry of the Offensive - Truthout.com

Sun, 07 Feb 2010 18:30:00 GMT

Environmental NGO's have been uncritically thumping the green tech funding plank and they're generating funding that could be harder to hold onto than a fistful of sand in the Iraqi oilfields.

Delusions of Finance: Where We are Headed - The Oil Drum

Gail the Actuary — Sun, 07 Feb 2010 18:30:00 GMT

Back in October, I participated in the 2 nd International Biophysical Economics Conference at SUNY-ESF in Syracuse, New York. Charlie Hall had written to me, inviting me to come and give a talk. Specifically, he wanted me to go back to my post from January 2008 called Peak Oil and the Financial Markets: A Forecast for 2008 and explain why my forecasts had turned out pretty close to correct, while many others widely missed the mark. The title he suggested for the talk was Delusions of Finance . My financial forecast really has implications for beyond 2008, so I added some more forecasting thoughts as well. In this post, I would like to share this presentation with you. A download of the presentation, plus an audio recording, are available at ...

Patents are a virtue - The Economist

Sun, 07 Feb 2010 18:30:00 GMT

Which countries file for most international patents? THE number of applications for international patents fell by 4.5% in 2009 compared with the year before to 159,000 as companies in western countries cut back on R&D spending during the recession. Yet applications from east Asian economies, including Japan and South Korea, increased slightly, while those from China soared by 30%. Since 2005, applications from China have grown by 210% as the country has developed a home-grown high-tech sector. But, reflecting America's economic power and corporate dynamism, it is the country from which the most filings still orginate, and it has a huge lead. However, the number of applications has fallen substantially from a peak of 54,000 in 2007. ... ...

Obama pushes Congress on small business loans - Post-Bulletin: Local Politics

Sun, 07 Feb 2010 18:30:00 GMT

WASHINGTON — Republicans sparred with President Barack Obama over proposals to create jobs in dueling radio addresses Saturday, highlighting the difficulty of reaching bipartisan solutions in a political climate marked by partisan bickering.

Politicus: Few Signs of Turnabout in Germany - NYT > World

By JOHN VINOCUR — Sun, 07 Feb 2010 18:30:00 GMT

About 100 days ago, Angela Merkel started a second term as chancellor, armed with a new center-right government coalition and an admonition for Germany. "This country has to finally grasp the full dimensions" of the unique economic crisis afflicting it, she said.

Reform Amid Fiscal Ruin - American Prospect

Mon, 08 Feb 2010 18:30:00 GMT

In some states, progressive leadership and grass-roots activism have turned crisis into opportunity for long-deferred tax reform.

A Tour of Six States - American Prospect

Mon, 08 Feb 2010 18:30:00 GMT

Snapshots of the fiscal crisis across the nation.

House Democrats support ending tax cut, but see it as tough sell - The Hill

Jay Heflin — Sun, 07 Feb 2010 18:30:00 GMT

House Democrats say leadership will struggle to convince the public to support a tax increase on those making more than $250,000.

AP analysis: US economic stress hit a peak in Dec. - SFGate: Business & Technology

By MIKE SCHNEIDER, Associated Press Writer — Sun, 07 Feb 2010 18:30:00 GMT

AP analysis: US economic stress hit a peak in Dec.

Geithner says Aaa rating is secure - Boston Globe: Business

Bloomberg News — Sun, 07 Feb 2010 18:30:00 GMT

Geithner says Aaa rating is secure

Salt Lake City Journal: Huge Church Project Renews Downtown, and Debate - NY Times: Business

By KIRK JOHNSON — Sun, 07 Feb 2010 18:30:00 GMT

A $1 billion Mormon church-financed redevelopment project and a wave of recent church purchases in Salt Lake City have put a new focus on the line between culture and economics.

Asia Sails Smoothly Through Debt Waters - International Herald Tribune: Business

By VIKAS BAJAJ and KEITH BRADSHER — Sun, 07 Feb 2010 18:30:00 GMT

The Asian financial crisis of 1997 led many countries to be more conservative about borrowing and spending over the last decade than Western nations.

Ireland's suffering offers a glimpse of Britain's future under the Tories - The Guardian -- World Latest

Larry Elliott — Sun, 07 Feb 2010 18:30:00 GMT

Brian Lenihan's spending cuts and tax hikes are sucking demand out of the Irish economy – and threaten to keep the Republic mired in recession alongside Greece Last December, on the same day that Alistair Darling delivered his pre-budget report to parliament, the Irish government announced its own plans for tax and spending. Darling said he would delay Britain's fiscal pain; Ireland's Fianna Fáil finance minister, Brian Lenihan, tackled his country's budget deficit head on . Darling has no intention of being swayed by critics who say that Ireland is showing how deficit reduction should be done. Indeed, he would quite welcome some interest being taken in events across the Irish Sea, for if Greece is the right's nightmare vision of where the ...

US and China: Tetchy twins - The Guardian -- World Latest

Sun, 07 Feb 2010 18:30:00 GMT

A year ago, China Daily gushed with upbeat epithets about the co-operation between the US and China. The relationship was already effective and smooth on trade, Taiwan and global warning. With two firm multilateralists, Barack Obama and Joe Biden, now in power, it would be positively strengthened and constructive, the official mouthpiece opined. How different the picture looks today – and how wounded the official tone. China sent a deputy foreign minister to negotiate with Mr Obama in Copenhagen, scuppering the deal that not just the US but many other countries wanted. Next came the cyber-attacks on Google . Then the White House approved a decision to sell patriot missiles to Taiwan , announced that Mr Obama would meet the Dalai Lama and ...

G7 - banks should pay for recession - The Guardian -- Front Page

Larry Elliott — Sun, 07 Feb 2010 18:30:00 GMT

Finance ministers from G7 industrial nations insist financial institutions should bear cost of taxpayers' bailouts Alistair Darling believes plans for a new global levy or tax on banks could be agreed within 18 months after finance ministers from the G7 industrial nations insisted at the weekend that financial institutions should bear the cost of taxpayers' bailouts. The chancellor is confident that a series of summits this year will narrow down the options to just one by the end of the year, with the Treasury currently seeing an insurance levy as the likeliest option. G7 ministers are now waiting for a study by the International Monetary Fund – which is considering four options including a financial transaction tax and an insurance ...

Gov. Gibbons to deliver emergency State of the State as Nevada faces worst economy in decades - Star Tribune: Nation

Sun, 07 Feb 2010 18:30:00 GMT

Geithner: America's debt rating not at risk despite mounting deficits - The Hill

Silla Brush — Sat, 06 Feb 2010 18:30:00 GMT

The Treasury secretary said the country’s debt rating is not at risk because of the trillions of dollars of government spending.

Gibbons to deliver emergency State of State - SFGate: Business & Technology

By SANDRA CHEREB, Associated Press Writer — Sat, 06 Feb 2010 18:30:00 GMT

Gibbons to deliver emergency State of State

Gibbons to deliver emergency State of State - Boston Globe: Latest

Sandra Chereb, Associated Press Writer — Sat, 06 Feb 2010 18:30:00 GMT

Gibbons to deliver emergency State of State

False Profits - Truthout.com

Sat, 06 Feb 2010 18:30:00 GMT

False Profits: Recovering From the Bubble Economy

By Dean Baker

PoliPoint Press, 2010

He who feels punctured must once have been a bubble.

- Lao Tzu, Tao Te Ching, 6th century BCE
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