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How Washington Is Wrecking the Economy, Part 2
Tweet Share on Facebook July 16, 2012 CommentWhat in the world could be wrong with the dormant economy?
Europe's chronic debt crisis has been an obvious concern, but recent measures seem to have reduced the odds of a dramatic meltdown in the euro zone.
Gas prices close to $4 per gallon were spooking consumers for a while, but they've since fallen to about $3.40, bringing drivers relief.
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Why the Economy Will Take Off—in 2013
Tweet Share on Facebook July 13, 2012 CommentForget about 2012.
Economists at the Federal Reserve, Wall Street banks, and top forecasting firms mostly agree that for the rest of the year, the economy will bumble along with the same torpor it's exhibiting right now. With the November elections and the "fiscal cliff" that Congress needs to deal with by the end of the year filling the horizon with uncertainty, anybody who can put off a big decision is.
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When Did the U.S. Olympic Team Join the One Percent?
Tweet Share on Facebook July 13, 2012 CommentSo the U.S. Olympic team's natty new uniforms were made in China. Anybody surprised?
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Like Romney and Obama, We Are All Outsourcers
Tweet Share on Facebook July 12, 2012 Comment -
At GM, the Stealthy Return of a Dead Brand, at Least in Spirit
Tweet Share on Facebook July 12, 2012 CommentIt used to be called "a different kind of car company." One of those differences was that it didn't make any money.
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4 Reasons To Chill Out Over Endless Bank Scandals
Tweet Share on Facebook July 11, 2012 CommentWill it ever end?
After Wall Street nearly bankrupted the entire universe in 2008, you'd think the bankers would have gotten their act together and the rest of us would have enacted a zero-tolerance policy toward financial shenanigans.
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The Healthcare Reform Festival of Lies
Tweet Share on Facebook July 11, 2012 CommentAmericans are getting used to the idea that they shouldn't trust anything politicians say. But if it's possible to raise (or lower) the bar for dishonesty, recent claims about President Obama's healthcare reform law are doing it.
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Mitt Romney's Secret Weapon: Tax Havens For All
Tweet Share on Facebook July 10, 2012 CommentPolitical strategists seem to think that Mitt Romney's Swiss bank account and his secretive offshore investment funds are a liability with voters.
Not with me. In fact, Mitt Romney could easily win my vote if he would do one simple thing: Tell me how I can be more like him.
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Why Rigging the Libor Interest Rate Is a Big, Rotten Deal
Tweet Share on Facebook July 10, 2012 CommentAnother financial scandal means it's time for another impromptu primer on the technicalities of banking—and the astonishing chutzpah of bankers.
In this case, it appears that traders at Barclays and possibly other banks manipulated a key interest rate between 2005 and 2009, to help enhance the profitability of their trades. For once, a top banking official has paid a price. Former Barclays CEO Bob Diamond has resigned and forfeited $31 million worth of bonuses in a settlement with the bank. It still isn't clear if Barclays broke any laws or if authorities will press charges.
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For Obama, the Election-Day Economy Looks Bleak
Tweet Share on Facebook July 9, 2012 CommentThe state of the economy on Election Day will go a long way toward determining who the next president is. And the forecasts suggest Barack Obama has a lot to worry about.
[RUN FOR IT! Photos of Pamplona's annual 'running of the bulls']
It's clear by now that for the third year in a row, the economy has entered a mid-year stall, after what looked to be a promising start. During the first three months of 2012, for example, employers created about 225,000 jobs per month, on average. Had that pace of hiring remained consistent or accelerated, it would be pushing the unemployment rate down and creating tangible sense of momentum heading into the fall.
