Gold Speculation During The Great Correction
Posted by admin / Under Economic Democracy
Gold Speculation During The Great Correction By Bill Bonner 09/02/10 Paris, France – Yesterday was a good day for stock market investors. Prices went up. The Dow rose 254 points, leaving us uncertain about its near-term intentions. Of course, we’re always uncertain. But sometimes we’re more uncertain than others. What seems certain to us is that stocks are a bad bet. You might find this interesting, dear reader: Guess who was better off at this stage following the beginning of the crisis. The investor in the Great Depression? Or, the investor today? Well, we haven’t done the calculation ourselves, but...
Published on Monday 6th of September 2010 10:20:14 AM
Policy Options Dwindle as Economic Fears Grow
Posted by admin / Under Economic Democracy
THE American economy is once again tilting toward danger. Despite an aggressive regimen of treatments from the conventional to the exotic — more than $800 billion in federal spending, and trillions of dollars worth of credit from the Federal Reserve — fears of a second recession are growing, along with worries that the country may face several more years of lean prospects.
Published on Monday 6th of September 2010 10:20:14 AM
Democrats Face Economic Facts: Updraft Unlikely
Posted by admin / Under Economic Democracy
Congressional Democrats and the White House will continue their attempts to enact policies they believe will boost the economy—and which are also aimed at persuading voters they are working to make things better. ...And while the economic situation remained dire when President Barack Obama took office in January 2009, most Democrats assumed that the economy would rebound by the time they stood for office this year. A series of disappointing economic reports has made clear that won't be the case. The most recent one came Friday, when the government reported that the economy grew at a much slower pace in...
Published on Monday 6th of September 2010 10:20:14 AM
Among Democrats, economicpressures are changingtax-cut dynamics
Posted by admin / Under Economic Democracy
With the economy rapidly weakening, some senior Democrats are having second thoughts about raising taxes on the nation's wealthiest families and are pressing party leaders to consider extending the full array of Bush administration tax cuts, at least through next year. This rethinking comes barely a month after Democrats trumpeted plans to stage a high-stakes battle over taxes in the final weeks before the November congressional elections.
Published on Monday 6th of September 2010 10:20:14 AM
Remembering Christina Romer: Tax Increases and Their Economic Impact
Posted by admin / Under Economic Democracy
In June of this year, a little known organization called the American Economic Review published a 39 page research article, titled “The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks.” I have quoted from the publication here: This paper investigates the causes and consequences of changes in the level of taxation in the postwar United States. Our results indicate that tax changes have very large effects on output. Our baseline specification implies that an exogenous tax increase of one percent of GDP lowers real GDP by almost three percent… and that [capital] investment falls...
Published on Monday 6th of September 2010 10:20:14 AM
"Hope is the only bee that makes honey without flowers."
This Day In History
William McKinley: US president was shot by an anarchist; he died eight days later (1901)
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