economic news and information
Submitted by beowulf on Tue, 05/14/2013 - 10:21pm
Joe Firestone wrote a piece earlier here at Correntewire to report that strange doings are afoot at the
Circle K House of Representatives.
On May 9, 2013, The Republican House passed H.R. 807 the Full Faith and Credit Act. The Bill says in part:
(a) In General- In the event that the debt of the United States Government, as defined in section 3101 of title 31, United States Code, reaches the statutory limit, the Secretary of the Treasury shall, in addition to any other authority provided by law, issue obligations under chapter 31 of title 31, United States Code, to pay with legal tender, and solely for the purpose of paying, the principal and interest on obligations of the United States described in subsection (b) after the date of the enactment of this Act. Read below the fold...
(b) Obligations Described- For purposes of this subsection, obligations described in this subsection are obligations which are--
(1) held by the public, or
(2) held by the Old-Age and Survivors Insurance Trust Fund and Disability Insurance Trust Fund.
Submitted by ubetchaiam on Sat, 04/20/2013 - 3:25pm
"An engineer, a chemist, and an economist are stranded on a deserted island.
They are starving, when miraculously they find a box filled with canned food.
What to do? They consider the problem, bringing their collective lifetimes of
study and discipline to the task.
Being the practical, straightforward sort, the engineer suggests that they
simply find a rock and hit the cans until they break open.
“No, no!” cry the chemist and economist, “we would spill too much food and the
birds would get it!” Read below the fold...
Submitted by letsgetitdone on Tue, 04/16/2013 - 1:53pm
Deficit spending by the government is merely the counterpart of private sector saving. What government deficit spending does is to permit the private sector to achieve its level of desired saving. When the latter changes, government spending ought to be adjusting in the opposite direction to offset it (unless the current account balance happens to do the job). Read below the fold...
Submitted by DCblogger on Sun, 03/31/2013 - 1:18pm
Yesterday in the grocery store a fellow shopper commented that she was surprised that there were so few shoppers on the Saturday before Easter. I replied that it was the end of the month, and she said she still did not understand it as Easter was the next day. I observed that this year many people are not going to have Easter dinner. And she agreed.
D.C. Landlords Discriminate a Lot Less Than They Used To Read below the fold...
Submitted by DCblogger on Wed, 03/20/2013 - 2:18pm
Submitted by DCblogger on Mon, 03/11/2013 - 10:38pm
Submitted by Jay on Thu, 03/07/2013 - 12:26am
"President Obama will under no circumstances agree to put your retirement at risk by privatizing Social Security, and he will reject any plan that slashes Social Security benefits."—Obama Campaign “Truth Team,” October 6, 2012
Read below the fold...
Submitted by Tony Wikrent on Sat, 02/16/2013 - 12:00am
Cross-posted from Real Economics.
WalMart executives are freaking out over lousy sales, according to this article in Business Insider. After a disastrous January, one WalMart exec wrote in an email that February sales so far are a "total disaster," according to a Bloomberg news story.
“In case you haven’t seen a sales report these days, February MTD sales are a total disaster,” Jerry Murray, WalMart’s vice president of finance and logistics, said in a Feb. 12 e-mail to other executives, referring to month-to-date sales. “The worst start to a month I have seen in my ~7 years with the company.” Read below the fold...
Submitted by DCblogger on Mon, 02/11/2013 - 1:59pm
But I would like to see a few candidates out there telling seniors that it's time to raise their benefits. That might actually be popular. Read below the fold...
Submitted by DCblogger on Mon, 02/04/2013 - 1:55pm
The New Deal
I'll admit that, for the most part, during the great and glorious benevolent rule of the Kenyan Muslim Socialist, I've been a bit unsure just what I should be advocating for.
I've found my groove. We need to increase Social Security Benefits. The Professional Left needs to sign on to this. All the oldsters need to vote for it. Congressional candidates need to get on board. Read below the fold...
Submitted by Rainbow Girl on Sat, 01/19/2013 - 10:56pm
Submitted by DCblogger on Tue, 01/15/2013 - 12:00pm
Submitted by DCblogger on Tue, 01/15/2013 - 9:33am
Submitted by DCblogger on Thu, 01/10/2013 - 11:48am
Submitted by DCblogger on Thu, 01/03/2013 - 9:32pm