Nonfarm Payrolls rose by 175,000 vs. a Bloomberg consensus expectation of 150,000. Beneath the surface, things look worse again. The household survey shows a gain of employment of only 42,000 while unemployment rose by 223,000.
Main Street is at a crossroads, which means the nation is at a crossroads. After being bruised and battered, even those that have seen home values rebound and incomes that are staying ahead of the rate of inflation, there is serious doubt and hesitation.
Earlier this week, we were hit with yet another winter storm here outside of the Washington, D.C., area, and, true to form, many things came to a girding halt.
With the S&P 500 trading at just about the same level as it started in 2014, it has been hardly a gangbuster year for the U.S. stock market. And it also is a far cry from the #4 position that the U.S. stock market occupied among global stock markets in 2013.
If Ralph Nader contended that the Corvair was “unsafe at any speed,” then I contend that the ObamaCar demand has reached it’s apex and is “unwanted at any price.” That might be because no one can actually tell buyers what it might cost to replace the batteries in the car.
The Wilshire 5000 Stock Index is supposed to be the ultimate measure of the U.S. stock market, but in reality there are now only 3,666 stocks in the index. Back in 1998, it contained 7,562 stocks. The main culprit has to be excessive and unnecessary government regulation, like Sarbanes-Oxley and Dodd-Frank.
Putin has been minimizing the Ukraine crisis as a difference of opinion, and has indirectly asked why the US is so upset. He's even come close to lecturing the US president on the issues about which he really should be concerned.
If you look at measures of what makes a nation competitive and prosperous, you’ll find some obvious variables such as fiscal policy, regulatory burden, and monetary policy. But in addition to those policy levers, you’ll find that it’s equally important that a nation does a good job of protecting and maintaining the rule of law.
While it's easy to conclude that the Polar Vortex has been responsible for an excess of school shutdowns and ice related traffic snarls, it's much harder to conclude that the it's responsible for the economic vortex that appears to have swallowed the American economy over the past three months.
Justin Danhof, Director of the Free Enterprise Project (and one of Tim Cook’s least favorite investors) joined the program to discuss his recent dust-up with the Apple CEO… Apparently, Cook thinks that return on investment isn’t nearly as important as pursuing “green energy” dollars from DC.
Yeah, I get it: no-one enjoys the prospect of 40 plus hours per week of the “daily grind”. (For those of you who are liberal, unemployed, or French, the “daily grind” refers to “work”.) But, c’mon… When did we start knocking hard work in this country?
Here's a story too funny to not report. In a field of five, no Democrat senatorial candidate received 50% of the votes in yesterday's Texas primary. But one stands no chance of winning the hearts of Democrats...
I happen to believe Mark Twain was on to something when he said, "All you need is ignorance and confidence and the success is sure." In fact, it's truer now than ever before. One has to be ignorant about the statistics, the critics, and the overall economy, and go out there and make it happen.
All you have to do now is overestimate your initial estimate, trumpet that number, cut your estimate later, and then trumpet the new overestimation to make sure everything looks like a runaway freight train, disguised as a trainwreck.
If the Crimeans vote for independence from Ukraine and for association with Russia, will the West extend as much credit to a Crimean referendum as it gave to mob violence in Kyiv? In short, based on the indicators, NightWatch judges that Crimea and the city of Sevastopol will be linked to Russia in some official fashion by the end of March.
Germany isn’t exactly a fiscal role model. Tax rates are too onerous and government spending consumes about 44 percent of economic output. That’s even higher than it is in the United States, where politicians at the federal, state, and local levels divert about 39 percent of GDP into the public sector.
No, Putin was not turned by diplomats or feckless heads of state from the West. He was dissuaded by speculators. Russia was not dissuaded by threats of punishment: Russia was dissuaded by actual punishment, meted out in real time by that most vilified of classes, currency speculators.
Most recently the Labor Department reported that our country’s productivity rose a revised 1.8% in the fourth quarter of 2013. That could be good or bad, depending on your perspective, yet it’s down from a previously reported 3.2% and it’s also substantially lower than the 3.5% rise that was declared for the third quarter of 2013.
Will there be any meaningful sanctions against Russia for invading Crimea? The answer is no, and a comparison to Iran will show why.
President Obama bristled at the idea Putin was tough or won, and that his actions were not "a sign of Russian strength." But the fact of the matter is that Russian troops are in control of Crimea, and they didn't have to fire a shot.
Apparently, a grand total of sixty United States senators failed their economics and history courses in both high school and college. This would appear to be the truth since a letter signed last September by the said sixty senators clearly points to their complete lack of knowledge when it comes to these two areas of study.
Friday, the Labor Department is expected to report the economy added 150,000 jobs in February. This is less than half the pace needed to lower unemployment to an acceptable level, and President Obama’s budget promises little relief.
One way or another, the house always wins. That’s how they’re able to build those giant, billion dollar places called casinos. Did you know that some of those companies are so big and expansive that they’re publicly traded entities?
Two more bitcoin exchanges were robbed in the past few days. "Flexcoin" lost all online coins and shut its doors.
I'm not a big fan of entertainment industry award shows. In fact, the last time I watched an award show of any kind, was the year Stevie Wonder set a record for his "Songs in the Key of Life" album at the Grammy’s. But, while channel surfing Sunday night, I was lucky enough to catch a part of Matthew McConaughey’s acceptance speech...
This act of defiance is significant. It exposes a weakness in the Russian military-political calculation by complicating and prolonging consolidation of Russian control. The Russian military position is weaker than it appears.
The President’s new budget has been unveiled. There are lots of provisions that deserve detailed attention, but I always look first at the overall trends. Most specifically, I want to see what’s happening with the burden of government spending.
Did Vladimir Putin blink? Or did he win? Well, here’s a hint: The Kremlin is the only place where people seem to be happy with how the Ukraine situation has played out. Economist Mark Skousen also joined the show to talk about the good, and the bad, that we can expect from the Federal Reserve under Janet Yellen.
As a child, I was attracted to anything that dealt with medicine. Many stories featured Johns Hopkins Hospital, and eventually I was privileged to spend 36 years at Johns Hopkins working with brilliant and caring colleagues who dedicated their lives to the art and science of healing.
Connecticut gun owners are calling the state’s anti-gun bluff. The state recently passed a slew of anti-gun legislation, including a gun registration program for so called “assault rifles” that has been received with less enthusiasm than Obamacare. And now, citizens are telling the state: “Come and take them!”
The ruble was down 1.43% yesterday, 9.81% for the year. Russia sold $10 billion and hiked interest rates hoping to stop the decline.
Russian leaders have not abandoned the goal of recovering the Baltic states, despite the states' membership in NATO. NATO needs to see to the security of its most exposed and vulnerable members. Unless NATO shows it is serious about its commitment to defend its members and associates, Lithuania might be next.
No matter how much I pontificate about Washington corruption, there’s no way I can get across the true extent of the DC establishment’s self-serving behavior. Washington is rich because government is big and the beneficiaries of this system are enjoying their status as America’s new gilded class.
Lynn Shepherd a crime novelist, doesn’t think it is fair that J.K. Rowling is one of the most financially successful writers in history. In a recent column for the Huffington Post, Shepard has called upon Rowling to stop writing, because the Harry Potter creator has "made enough money".
It's no surprise that elitist liberals are once again being proven wrong. It turns out that, yeah, Russia is kinda bad news. Frank Gaffney, founder and president of the Center for Security Policy, joined the show to talk about the Obama Administration’s foreign policy incompetence.
Bitcoin believers were shaken to their digital souls when Mt. Gox, the world’s largest exchange, defaulted on $470 million worth of deposits and closed.
Since the time of Shakespeare seldom has there been so Much Ado About Nothing and from both political parties to boot.
As a result, the U.S. federal government, in hiking its payroll taxes on U.S. businesses so much, actually drove jobs out of the U.S. instead because it overly penalized employing workers within the U.S.
They want us to believe the economy is a fixed pie and that all of us somehow get less if some entrepreneur becomes rich.
Seriously, friends. Tell me how having either family running the show is good for America.
President Obama exempts his friends and financial supporters from having to adhere to the law while forcing The Little Sisters of the Poor to comply with the provisions that conflict with their longstanding religious beliefs.
Elite New York Democrats are waging a war on children. Well… At least that’s how it appears when the progressive Democrat mayor kicks 700 students out of high-performing schools, because… Well… He doesn’t really have a good reason.
“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.”
I confess I have a policy reason for supporting weaker national governments. Simply stated, there’s very strong evidence that decentralization means more tax competition, and when governments are forced to compete for jobs and investment, the economy is less likely to be burdened with high tax rates and excessive redistribution.
I summarize a lengthy report issued by two congressional committees on how the Treasury Department, the Internal Revenue Service, and the Department of Health and Human Services conspired to create a new entitlement program that is authorized nowhere in federal law.
The big banks dump piles and piles of money into the coffers of members of Congress on both sides of the aisle.