Economy of Mumbai
Mumbai, formerly known as Bombay, is the commercial and entertainment capital of India.
President Obama's Incredible Shrinking Labor Force
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President Obama last week brandished new jobs numbers as proof that his policies were having an effect on the unemployment rate, which the report said declined to 8.3 percent in January. The president is right about one thing: his big government agenda and class warfare tactics are having an effect -- but it's not the one he claims. In truth, last month's drop in the unemployment statistic was due largely to the evaporation of 1.2 million people from the labor force number. When people become so discouraged they stop actively looking for work, they are no longer counted as unemployed...
Published on Wednesday 8th of February 2012 06:11:33 PM
Economic Chaos Ahead
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Let's think about the kind of mess that we're in. Federal 2010 Medicare and Medicaid expenditures totaled $800 billion. The projected annual growth of both programs is about 7 percent. Social Security expenditures are more than $700 billion a year. According to the 2009 Social Security and Medicare trustees reports, by 2030, 49 percent of federal revenues will go for Social Security and Medicare payments. The unfunded liability of both programs is already $106 trillion.But not to worry. The Congressional Budget Office estimates that it's possible to sustain today's level of federal spending and even achieve a balanced budget. All...
Published on Wednesday 8th of February 2012 06:11:33 PM
Missing: 5.4 million workers (Astonishing! Published in the Boston Globe Workers Circle)
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<p>As searches dragged on, many just stopped looking. Now they aren’t even counted among the jobless.</p> <p>Jackson Julien looked for a fun job, then for anything. Finally, demoralization set in.</p> <p>Millions of Americans have vanished from the US labor force in the past three years, many of them so discouraged by long, fruitless job searches that they have given up looking for work, convinced that no employer wants them, according to a new study.</p>
Published on Wednesday 8th of February 2012 06:11:33 PM
China`s growth could fall to 4-pct. range this year: IMF (if EU goes south)
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China`s growth could fall to 4-pct. range this year: IMF FEBRUARY 08, 2012 03:05 The International Monetary Fund said Tuesday that China`s economic growth could fall to the 4-percent range if the eurozone`s woes deepen, urging Beijing to prepare stimulus measures in response. China`s export-dependent economy is highly exposed through trade links, with a large volume of Chinese exports going to Europe. Lower import demand will reduce corporate profitability and household income, which in turn could lower GDP growth, the IMF said. The contribution of exports to GDP growth in China was minus 0.5 percent last year, and could further...
Published on Wednesday 8th of February 2012 06:11:33 PM
Iranian Lawmakers Call For Embargo On Oil Sales To EU
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More than two-thirds of Iran's lawmakers have endorsed a statement calling for cutting off oil sales to the European Union before EU sanctions on their country go into effect. The statement, which was read Wednesday in an open session of parliament broadcast on state radio, said "in the case of the continuation of illogical policies" by the EU, Iran will look for alternative customers for its oil before the European embargo goes into effect in the summer. The statement was signed by 200 of the parliament's 290 lawmakers.
Published on Wednesday 8th of February 2012 06:11:33 PM
Company Faces Forgery Charges in Mo. Foreclosures [RoboSigning]
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One of the largest companies that provided home foreclosure services to lenders across the nation, DocX, has been indicted on forgery charges by a Missouri grand jury — one of the few criminal actions to follow reports of widespread improprieties against homeowners. A grand jury in Boone County, Mo., handed up an indictment Friday accusing DocX of 136 counts of forgery in the preparation of documents used to evict financially strained borrowers from their homes. Lorraine O. Brown, the company’s founder and former president, was indicted on the same charges. Employees of DocX, a unit of Lender Processing Services of...
Published on Wednesday 8th of February 2012 06:11:33 PM
Illusion Of Economic Recovery - Feelings And Facts
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Illusion Of Economic Recovery - Feelings And Facts Economics / US Economy Feb 07, 2012 - 07:17 AM By: James Quinn "There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as the final and total catastrophe of the currency involved." - Ludwig von Mises The last week has offered an amusing display of the difference between the cheerleading corporate mainstream media, lying Wall Street shills and the critical thinking analysts...
Published on Wednesday 8th of February 2012 06:11:33 PM
With economy improving, Obama would beat Romney: poll (MSM lying about the job numbers again)
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President Barack Obama - bolstered by a stronger economic outlook and recent job growth - would win in a match-up against the two leading Republican presidential candidates Mitt Romney and Newt Gingrich, a poll on Monday showed. A Washington Post-ABC News survey of 1,000 adults found that, for the first time, Obama's prospects have brightened against his potential rivals as his overall job approval rating climbed on his handling of the slowly recovering economy. If the election were held now, Obama would win 51 percent of the vote compared to 45 percent for Romney, the former Massachusetts governor and current...
Published on Wednesday 8th of February 2012 06:11:33 PM
Thoughts on Fair Taxation
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President Obama is now campaigning all of the country in the name of “fairness” especially how it relates to the US Tax Code. According to President Obama, “fair” means a progressive tax (where as one makes more money, they pay a higher percentage in taxes). What he’s trying to do through his “fairness” campaign is make the progressive tax more progressive by increasing tax rates on those that have higher incomes. According to the Obama administration, it is more “fair,” to raise taxes on the rich. I’m here to tell you that this isn’t true. Of course all of that...
Published on Wednesday 8th of February 2012 06:11:33 PM
Mitt Romney's Defining Moment | Indexing the Minimum Wage
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Is Mitt Romney a Liberal?By: Larry Walker, Jr.As Economist Thomas Sowell relays, in his piece entitled, A Defining Moment, "Mitt Romney has come out in support of indexing the minimum wage law, to have it rise automatically to keep pace with inflation."But according to Dr. Sowell,"We have gotten so used to seeing unemployment rates of 30 or 40 percent for black teenage males that it might come as a shock to many people to learn that the unemployment rate for sixteen- and seventeen-year-old black males was just under 10 percent back in 1948. Moreover, it was slightly lower than the...
Published on Wednesday 8th of February 2012 06:11:33 PM
Paul Krugman Makes The Bull Case For The Economy In One Simple Paragraph
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Paul Krugman Makes The Bull Case For The Economy In One Simple Paragraph Joe Weisenthal Febuary 6, 2012 Paul Krugman has a new column up with the dreary title: Things Are Not OK. The gist is simple enough: Despite the good employment report, things are still pretty horrible (in that we're very far from full employment) and yet because of the way politics are these days, there's a good chance that the good news will cause people to jump too fast towards austerity and monetary tightening. All that being said, this paragraph presents what is probably the clearest bull argument...
Published on Wednesday 8th of February 2012 06:11:33 PM
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