Tag Archives: wages
Economy
(GoldPrices) – Gold, Silver and Mining Companies Shaping Up
We will kick off with a review of the charts for gold, silver and the gold bugs index, the HUI, in an attempt to see where we are now and just where we might go from here. However, to put the charts into context we need to take into consideration the surrounding political, economic and investment landscape. These are volatile times with the financial markets in turmoil as what were perceived to be sound and secure governments now toil under the strain of their own excesses. The borrow and spend philosophies are coming back like a bad penny, to haunt not just those who caused this mess, but also for the rest of us, who are expected to clear it up. Read More Here
(InternationalForecaster) – Towards Another Stock Market Meltdown? – Bob Chapman
This past week the Dow fell 4%, S&P 4.2%, the Russell 2000 fell 6.4% and the Nasdaq 100 fell 4.4%. Banks fell 5.4%; broker/dealers 4%; cyclicals fell 5.6%; transports 5.5%; consumers 3.4%; utilities 4.3%; high tech fell 3.7%; semis 1.3%; Internets fell 4.2% and biotechs 4.2%. Gold bullion fell $56.00, the HUI gold index fell 11.4% and the USDX, dollar index, fell 0.8% to 85.38. Read More Here
(BusinessInsider) – Video: Marc Faber – “The Banks Are Gone” – (Part 1 Video Below)
Marc Faber spoke with Bloomberg Television about his bearish views on markets yesterday, and they remain as bearish as always.
“The banks are gone,” according to Marc Faber, and are only being kept alive by European Central Bank and government aid programs. Part 2 Here
(HuffingtonPost) – $1 Trillion for Wars Makes No Sense By Any Measure
This May 30 at 10:06 a.m., we will reach another dubious milestone in our almost nine years of war. At that precise moment, we will have spent $1 trillion in operational costs for the wars in Iraq and Afghanistan, tracked by the National Priorities Project’s cost of war counter. Read More Here
(SteveWatson) – Secret Clause Reveals Europe Bailout Designed To Destroy Global Economy
A secret exit clause written into the trillion dollar European bailout agreement will ensure the creation of more debt in Europe, worsening the global economy, decimating nation states and allowing power to be consolidated into fewer super-elite hands.
As the Financial Times reports today, the major German newspaper Bild says it has obtained a copy of the bailout agreement and has set about “exposing” a series of secret clauses. Read More Here
(GoldScents) – How Do You Answer The Question
Let me start off by pointing out that we did indeed break below the yearly cycle low yesterday. Read More Here
(AP) – Falling home prices stir fears of new bottom
Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 percent in March from February, according to the Standard & Poor’s/Case-Shiller 20-city index released Tuesday.
That marks six straight months of declines — a sign that the housing market is going in reverse. Read More Here
(BigGovernment) – Faber: Nations Will Print Money, Go Bust, Go to War…We Are Doomed
Today the leading Austrian economic think tank, the Ludwig von Mises Institute held a conference at the University Club in Manhattan in which Marc Faber, famed contrarian investor and publisher of the “Gloom, Boom and Doom Report” gave his perspective on the financial crisis and his outlook for the future. Read More Here
(CNBC) – Libor Spike Is Rekindling Fears Of Another Financial Crisis
A recent spike in the rate banks charge each other for short-term borrowing is reviving investor fears that the market is returning to the abyss of the credit crisis. Read More Here
(OilPrice) – The Hard Truth About Residential Real Estate
Anyone who believes that housing is on the rebound, and that now is the time to buy, should take a very hard look at the numbers I dredged up for my spring lecture and luncheon tour.
There are 140 million personal residences in the US. Today, there are 26 million homes either directly or indirectly for sale. Read More Here
(Cryptogon) – Plummeting Marijuana Prices Create A Panic In California
Understand the purpose of the drug war with just one story. Hint: Law enforcement is used to keep supplies down and prices high.
So what changed?
California is broke and the state government wants a cut of the action. Read More Here
(RevoltofthePlebs) – Fear and Loathing (and Lost Wages)
Last week, Barrack Obama brought his stage show to a manufacturing plant in Youngstown Ohio and took credit for 290,000 new jobs added to US payrolls in April. “The fact is, our economy is growing again,” he boasted “Any fair-minded person would say that if we hadn’t acted … more people across America would be out of work today.” He’s speaking of course of the $787 billion Recovery Act that pumped even more counterfeit cash into the economy and is now redeemable (at interest) by the Federal Reserve from your American tax dollar. Read More Here
(BusinessWeek) – Christie Says N.J. ‘Careening Toward Becoming Greece’
New Jersey Governor Chris Christie said the state is “careening our way toward becoming Greece” and can’t afford the cost of benefits and pensions for current workers. Read More Here
(Bloomberg) – Moody’s Reiterates U.S. Spending Risks Credit Rating
The U.S. government’s Aaa bond rating will come under pressure in the future unless additional measures are taken to reduce projected record budget deficits, according to Moody’s Investors Service Inc. Read More Here
(FoxNews) – Despite Soaring National Debt, Congress Goes on Spending Spree
As the national debt clock ticked past the ignominious $13 trillion mark overnight, Congress pressed to pass a host of supplemental spending bills to, among other things, fund the continuing wars in Afghanistan and Iraq, ramp up security on the U.S.-Mexico border and prevent teacher layoffs. Read More Here
(PaulWatson) – Video: Rothschilds Engineer Fire Sale Of UK Infrastructure To Offshore Corporations
The Rothschild banking family is pushing for the privatization of the UK’s motorway network that would force Brits, who already pay road tax, to enrich the coffers of private corporations intimately tied in with the Rothschilds by means of road tolls and pay-by-mile schemes enforced with spy cameras.
“A plan to privatize the UK’s motorway network, giving toll firms access to large swaths of road, would take place under the guise of paying down the government’s debt, British media reported Tuesday, citing a number of key officials who support the scheme, proposed to all major political parties by NM Rothschild, one of the world’s oldest, most influential and little discussed investment banks, founded by the Rothschild family,” reports Raw Story. – Continue reading
More Government Equals Fewer Jobs – Peter Schiff
(C4L) – With today’s unexpected decline in December payrolls, the cry for more job-related stimulus will grow even louder. But the sad truth is that any new stimulus or jobs bills will ultimately swell the ranks of the unemployed, thereby raising calls for an even bigger federal effort. If we are not careful, government regulations, subsidies, and spending, all designed to fight unemployment, could push the labor market into a death spiral. Continue reading
Wages growth lowest in 27 years; minimum wages are bad?
(ComingDepression) – The Labor Department said Friday that wages and benefits rose by 0.5 percent in the three months ending in December. For the entire year, wages and benefits were up 1.5 percent, the weakest showing on records that go back to 1982. Continue reading
IMF to Haiti: Freeze Public Wages
Since a devastating earthquake rocked Haiti on Tuesday–killing tens of thousands of people–there’s been a lot of well-intentioned chatter and twitter about how to help Haiti. Folks have been donating millions of dollars to Wyclef Jean’s Yele Haiti (by texting “YELE” to 501501) or to the Red Cross (by texting “HAITI” to 90999) or to Paul Farmer’s extraordinary Partners in Health, among other organizations. I hope these donations continue to pour in, along with more money, food, water, medicine, equipment and doctors and nurses from nations around the world. The Obama administration has pledged at least $100 million in aid and has already sent thousands of soldiers and relief workers. That’s a decent start. Continue reading
Funding Sweatshops Globally
In July 2008, SweatFree Communities (SFC) released a report titled, “Subsidizing Sweatshops: How Our Tax Dollars Fund the Race to the Bottom, and What Cities and States Can Do” in which it studied 12 factories in nine countries that produce employee uniforms for nine major companies.
10,000 apply for 90 factory jobs
In the latest sign of weakness in Louisville-area employment, about 10,000 people applied over three days for 90 jobs building washing machines at General Electric for about $27,000 per year and hefty benefits. Continue reading
GM to cut 10,500 more jobs by year’s end
General Motors (GM) announced Wednesday that it will lay off 10,500 more workers by January 1 in order to meet the terms of its “restructuring” plan, which was forced on the largest US automaker by the Obama administration’s Auto Task Force in the summer. Continue reading
MSM: U.S. Debt Crisis May Cause ‘Fall of Rome’ Scenario, Duncan Says
(Bloomberg) – U.S. budget deficits will continue to pile up in the next decade, eventually reaching an unsustainable level that may result in an economic collapse, according to Richard Duncan, author of “The Dollar Crisis.” Continue reading
Labor Day 2009 – Little to Celebrate, Much to Mourn
August 2009 marks the 19th straight month we have lost jobs as a nation ~ that’s 6.9 million jobs gone ! The Obama top down multi-billion dollar bailout and bank rescue has artificially inflated stocks and credit markets but has left Main Street destitute, jobless and unprotected: Continue reading
Less Government or Lower Wages? You Decide – Peter Schiff
The nationwide revelry surrounding our apparent economic recovery was disrupted this week by the release of lower-than-expected retail sales data. However, rather than sending a chill up the spines of those hoping for a quick end to the downturn, the numbers should be welcomed. Though this may come as a surprise to most observers, lower retail sales are precisely what our economy needs. Continue reading
No Wonder the Poker Game is Ending: The Wealthiest Have Taken All of the Chips
(WashingtonsBlog) – A new report by University of California, Berkeley economics professor Emmanuel Saez concludes that income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression. Continue reading
“Working Poor” report: Nearly 30 percent of US families subsist on poverty wages.
A report released in October 2008 by the Working Poor Families Project reveals that more than 28 percent of American families with one or both parents employed are living in poverty. Continue reading
US job cuts, foreclosures mount
This week brought new indications that any economic “recovery” in the US will not be shared by the working class. Telecommunications giant Verizon announced that it would eliminate 8,000 jobs by the end of the year, new data showed that the foreclosure crisis is continuing to mount, and weekly initial jobless benefit claims rose. Continue reading
MSM: Pay of Top Earners Erodes Social Security
(WSJ) – Fund Expected to Be Exhausted in 2037 Continue reading
Next Segment Of The Housing Market To Crash: $1+ Million McMansions
The new hallucination for most strapped McMansion owners is that they’ll “rent the house for a year and then sell when the market comes back.” Continue reading
While workers’ wages fall – Obama administration rejects limits on bankers’ pay
The Obama administration announced Wednesday that it opposed any government-imposed limits on the salary and bonuses of the CEOs and other top officials of major banks that have received trillions of dollars in federal handouts and guarantees over the past eight months. Continue reading
Grand Theft Auto: The Bankruptcy of General Motors
They may be crying about General Motors’ bankruptcy today. But dumping 40,000 of the last 60,000 union jobs into a mass grave won’t spoil Jamie Dimon’s day. Continue reading
The Economic Crisis: No, this will not be a Normal Cyclical Recovery
The Congress, at the behest of corporate lobbyists, wrote into legislation the rules that permitted companies to offshore jobs, reduce real wages, and permit risky financial practices. Therein lies the root cause of this crisis. Continue reading
The Financial War Against Iceland
Being defeated by debt is as deadly as outright military warfare. Continue reading
MSM: French demonstration – Sarkozy vs the street
In the biggest demonstrations seen in France for more than a decade, hundreds of thousands of people took to the streets yesterday to protest against everything from the global economic crisis to President Nicolas Sarkozy’s efforts to shrink the French state. Continue reading
MSM: Violent unrest rocks China as crisis hits
The collapse of the export trade has left millions without work and set off a wave of social instability Continue reading
Wages, It all gets down to wages
A strong economy must be built on a solid foundation of steadily rising wages. If wages don’t keep pace with production, the only way the economy can grow is through the expansion of debt, which leads to disaster. Continue reading