If you don’t have job creation, apparently you can just create jobs arithmetically and then hide them in a footnote to a revision*.
Big Miss: Nonfarm Payrolls rose by 113,000. The Median Bloomberg estimate was +180,000. December was revised up a tiny bit from 74,000 to 75,000. Beneath the surface, things actually look better for a change. The household survey shows a gain of employment of 638,000.
These talks might serve the government's political purposes, but they were not substantive. Nothing substantive happened because the Taliban sent no plenipotentiary representatives. They sent proxies who had no authority to make binding commitments.
The Sochi Winter Olympics will be the most expensive ever. There's no doubt it will go down as one of the greatest money grabs in history as Putin and his friends have pocketed billions. In the meantime the joint is a wreck- akin to a modern day Potemkin village. But it doesn't matter to the Russian strongman.
As tax rates get closer and closer to the revenue-maximizing point, the economic damage becomes very significant. The key point to remember is that we want to be at the growth-maximizing point of the Laffer Curve, not the revenue-maximizing point.
Again we ask, “Who would in their right mind loans an 18 year old, who has likely never had a real job, has likely never paid rent, and has likely never paid for a car, $50,000?” No one of course, except the federal government.
It’s been a rough time of late -- questions are being raised about growth prospects, both for the global economy and the stock market. We’ve had more companies issue negative outlooks than we have had in some time, while the latest round of economic data has been weaker than expected.
This kind of broad sweep eventually had to happen. I am not sure why it took so long, but even Taxifornia is finally fed up with public unions and the damage they cause.
Organized terrorism, like organized crime, can be stopped. Killing the fighters is not a permanent solution to the terrorist threat.
It's been a brutal start for stocks in 2014, but when anyone evaluates it, it has to be looked at in the context of the last 13 months and the last five years. The stock market isn't a board game like Monopoly where somehow everything begins anew and all stocks are on the "GO" square ready for a roll of the dice.
Gold is the simplest of financial assets - you either own it or you don't. Yet, at the same time, gold is also among the most private of assets. Once an individual locks his or her safe, that gold effectively disappears from the market at large.
A just-released report from the bean counters at the Congressional Budget Office is getting lots of attention because the bureaucrats are now admitting that Obamacare will impose much more damage to the economy than they previously predicted.
Your friendly neighborhood orthodontist has had enough… He’s suing the Obama administration for unilaterally changing the law. Republicans in congress seem scared to go after this administration, but one lonely doctor has decided that “enough is enough.”
If you still harbor doubt that the correction in the equity markets now is underway, then all you have to do is check out a price chart of the Dow Jones Industrial Average. Monday’s steep 300-plus point drop in the Dow sent the most widely watched measure of the equity market plunging below its long-term support at the 200-day moving average.
So let me get this right. Team Obama taxes millionaires who create jobs, while Obamacare creates incentives not to work at those jobs. No wonder recovery is so anemic. The policy here is to create fewer jobs and induce people to work less at those jobs. If my logic is correct, this runs counter to the most basic principles of our economy and our country.
What cannot be paid back won't, but that never stops officials from pretending it will. Please consider EU Said to Weigh Extending Greek Loans to 50 Years.
The Ba'athist government in Damascus appears to be holding its own. The best indication of increased stability is that the focus of most combat reports is the city of Aleppo, most of which has been under opposition control. The security situation generated two very strange comments by senior US officials.
I've argued for many years and written extensively about efforts that have made poverty so comfortable that it's hard to make the transition of taking care of one's own self. Government benefits are simply too good, and going into the workforce often means an actual reduction in income.
The president’s former worldwide rock star status is merely a distant memory as fingers continue to be pointed at America’s military aggression, from the Ukraine to Sudan. How the mighty have fallen as Obama’s domestic popularity numbers continue to rival those of the much hated George W. Bush.
The most common definition of a statesman is a person regarded as a disinterested promoter of the public good. I personally like the definition of a statesman as a person who has a bedrock of principles, a moral compass, and a vision with the ability to build a consensus.
Looking at labor markets, my biggest concern is the drop in labor force participation. The data from the Labor Department on the employment-population ratio, for instance, suggest a permanent reduction in the share of the population that is working.
The latest report on the Keystone XL pipeline should be making environmentalists cheer… Instead they’re stepping up their efforts to get the pipeline blocked. John talks with Cindy Schild from the American Petroleum Institute about the radical “green” agenda – and its divorce from environmental concerns.
In a new report, the Congressional Budget Office once again low-balls the impact of the Affordable Care Act on labor force participation and the economy. GDP, growth and employment for most workers will be harmed.
So, we have people with dropped coverage, part time work, facing higher premiums (which they are forced by law to purchase) in addition to 2.5 million more “free agents” being added to the unemployment rolls. Wow… Liberal economic theory is weird...
A huge battle between pensioners and bondholders is on. Last week, a Bond rating agency blasted Governor Rick Snyder’s $350-million Detroit pension rescue plan as being too favorable to creditors at the expense of bondholders.
The CIA Chief of Station on the ground in Libya during the attack informed his superiors that the attack was "not/not an escalation of protest." Nonetheless, Morell sanitized and altered the talking points blaming the largely unseen video for sparking a protest demonstration gone bad for the death of four Americans.
Guy Benson, from Townhall, joined the show to discuss the new CBO report on Obamacare… It turns out that Obama’s signature piece of legislation will be far worse for America than we originally anticipated. Also, John wants to know who’s having a worse year: Obama or Peyton Manning?
I am convinced that real diplomacy can happen between groups which are fundamentally at odds. That’s really the point of diplomacy I suppose, and I think about the Biblical quote, “Blessed are the peacemakers” often when I am talking with people with wildly divergent worldviews from my own in DC and online.
We’ve had more companies issue negative outlooks than we have had in some time, while the latest round of economic data has been weaker than expected. All of this has taken a toll on the major stock market indices, leaving the Dow Jones Industrial Average down more than 1,000 points from where it was just two weeks ago.
What do you do in Sochi? I just arrived here, it's late, I'm exhausted, but I'm going to find out. That is, after I sleep for about a day and a half.Before I got on the plane, I prepared for my Russian adventure. No, I didn't study a folder of clipped newspaper stories for some quickie background. I did real research. I rented some movies...
With U.S. and global stock markets continuing to slide this week, the long-awaited market correction may be upon us. With the Japanese market sliding 4% overnight, it now looks like the current pullback may have more to go.
Saul Alinsky, about whom the young Hillary Rodham wrote her Wellesley honor’s thesis, was neither communist nor conventional Big Government liberal. Hillary Rodham turned down a job offer from Alinsky. She turned aside from the path of anti-establishment populist.
Why do statists support higher tax rates? The most obvious answer is greed. In other words, leftists want more tax money since they personally benefit when there’s a larger burden of government spending. And the greed can take many forms.
The truth is, mom and dad shouldn’t have co-signed for their child's student loans in the first place. There’s only one reason lenders want a co-signer, and that’s because they’re afraid the person taking out the loan won’t be able to pay back what’s owed.
Cold weather certainly did not help auto sales any, but didn't the economists know the weather was cold when they made their forecasts? I think the economy is slowing more than economists realize, even if weather is partially responsible for this.
I have a serious issue with the notion that the government shutdown was such a bad thing. Sure, there were parts that should have been avoided, but any entity with 800,000 non-essential workers should be pared down for its own survival...in this case our survival.
Hillary Rodham chose the path of “central power” rather than the path of “personal dignity.” There is some evidence she is not fully at peace with that decision. Much depends, for her, her party, and America, on what she does next.
Most people need to have the mortgage paid off if they wish to have a comfortable retirement. That, of course, isn't the only way to have a satisfactory retirement but it goes a long way toward insuring a happy one.
If a considerable number of businesses might soon be seeing reduced earnings, with corresponding reductions in their expected dividend payments to their shareholders, it would make sense to focus more in the nearer term than a more distant future.
The Labor Bosses are not quite ready to jump to the GOP, but the universally dependable blind loyalty, open checkbooks, and armies of Democrat campaign workers may be a casualty of the bitter ObamaCare fallout.
Simply stated, if Obama was concerned about low returns for savers, he should be directing his ire at the Federal Reserve, which has artificially pushed interest rates to very low levels as part of its easy-money policy.
The President unveiled his executive memorandum creating “MyRA” savings bonds; saying that “I could do more with Congress, but I'm not going to not do anything without Congress”. Good. Now we’re all confused. It’s nice that we have a leader who can unite us.
Wisdom from Nobelist Milton Friedman: "the minimum wage law is most properly described as a law saying employers must discriminate against people who have low skills. That’s what the law says."
President Obama, you are correct when you say, “opportunity is who we are,” but your policies hurt the poor and block job creation.
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