Economic News/Discussion

[Dutchcedar]

Thanks Barry!!!

This election cycle deserves a chart man like Perot. People need to see this stuff.

[kbohip]

This election cycle deserves a chart man like Perot. People need to see this stuff.

I've always thought Ron Paul's biggest failure was his lack of charts.

[jimzinsocal]

Weekly Unemployment Data

UNADJUSTED DATA

The advance number of actual initial claims under state programs, unadjusted, totaled 381,875 in the week ending April 7, an increase of 62,530 from the previous week. There were 448,029 initial claims in the comparable week in 2011.

The advance unadjusted insured unemployment rate was 2.7 percent during the week ending March 31, a decrease of 0.2 percentage point from the prior week's unrevised rate of 2.9 percent. The advance unadjusted number for persons claiming UI benefits in state programs totaled 3,448,994, a decrease of 187,712 from the preceding week. A year earlier, the rate was 3.1 percent and the volume was 3,943,591.
The total number of people claiming benefits in all programs for the week ending March 24 was 6,952,876, a decrease of 97,833 from the previous week


I should note: Unadjusted data there..and for the first time in months the difference between seasonal adj and unadj is almost nil. I believe the published number will be 380,000


http://www.dol.gov/opa/media/press/eta/ui/current.htm

[AMDScooter]

^^^ Wait another 2 weeks for predictable result...

In related news... The Won pimping the "Buffet Rule" on the campaign trail is comically stupid in light of:

Private jets, Warren Buffett and tax lawsuit

Get this: Uncle Sam is suing Warren Buffett's company over taxes. Yes, taxes. The US government, in a little-followed case in Ohio, filed a lawsuit this month against a unit of Buffett's Berkshire Hathaway, seeking $366 million in taxes and penalties. The Berkshire division at the centre of the suit is NetJets, the private-aircraft company that caters to the nation's wealthiest - the people Buffett says should pay more in taxes.

It is an odd twist that a company controlled by Buffett - perhaps the most outspoken businessman in the country in support of raising taxes on the 'mega-rich' - is now in a dispute with the government over his company's paying too little in taxes.

Stuck on stupid.

[SteveW]

"Green Jobs", "Summer of Recovery", "Shovel Ready" jobs and now this.

Hiring Chinese Contractors for US Infrastructure projects using borrowed tax dollars......

[AMDScooter]

^^^ Makes perfect sense in an Obama economy where US jobless claims always rise "unexpectedly".

Jobless claims unexpectedly rise last week

A quick search for "Jobless claims unexpectedly rise" gets over 200k hits. It's all about the messaging.

[kbohip]

"Green Jobs", "Summer of Recovery", "Shovel Ready" jobs and now this.

Hiring Chinese Contractors for US Infrastructure projects using borrowed tax dollars......

As much as I'd like to blame BO and the Dems for infrastructure jobs going to China, I can not. This kind of thing is one of the main problems in this country today. Both the Dems and Repubs let it go on right under their noses and will continue to do so as no one seems to care. We have become a country that can not even build our own bridges anymore for many number of reasons, some that aren't even related to politics. Not good. NOT good.

[AMDScooter]

So bamma has been pimping this "Buffet" gimmick for some time now.. but he himself pays less in taxes than his secretary?

Did Obama Pay a Lower Rate Than His Secretary?

That Messiah dude sure has a bad habit of stepping in it.

[falcon_view]

As much as I'd like to blame BO and the Dems for infrastructure jobs going to China, I can not. This kind of thing is one of the main problems in this country today. Both the Dems and Repubs let it go on right under their noses and will continue to do so as no one seems to care. We have become a country that can not even build our own bridges anymore for many number of reasons, some that aren't even related to politics. Not good. NOT good.

I hear you, on facebook talking to a republican on the subject of the new jail our county is building at the tune of $5.2 mil. Keep in mind this is a small county and very heavy republican. From the county commission it has been stated that the jail can be built without raising taxes. But what about operating? They think they can pay for and operate the new jail with more personal by taking in inmates from other counties but when you look at the counties that have done this or said they could do the same it hasn't worked out without a tax hick.

Here is the kicker on the funding/borrowed money, there was two ways to go to get funding, one was private and the other form the Federal Government. Many times, this republican has stated that the Federal Government doesn't have the money but has to borrow it thus adding to our debt by over spending. Borrowing from the government was/is a little cheaper so that is where we are getting the money. This republican couldn't be happier because of the cheaper rate and maybe until I reminded him that this money the Federal Government had to borrow while he blasts over spending. Also I reminded him we don't and haven't paid down out debt but only paid the interest.

Oh well, what can one do???????????????????

[Dutchcedar]

^^^ There's the California solution... let the prisoners go free.

[Keven]

^^^ There's the California solution... let the prisoners go free.

Or the Michael Dukakis solution!

I watched a documentary on Netflix last night about Republican political operative Lee Atwater who worked on the Reagan and Bush 41 presidential campaigns. Atwater was a mentor to Karl Rove and was credited with Bush's negative campaign against Dukakis (Willie Horton, the tank ad, Dukakis' wife burned the US flag in the 60s, etc. etc.).

Anyway, they interviewed Dukakis and he was crying about the negative attack ads. He's basically a bitter old man now. He also said if he had beaten the first George Bush, we would have never gotten the second. I think he said verbatim "If I had beaten the old man, we never would have gotten the son, so blame me." I literally rolled my eyes so hard.

So, that reminded me that Dukakis existed.

[jimzinsocal]

Here is exactly why business develop an attitude that isnt always expansionary. And an example of Federal government injecting itself where help isnt needed or even wanted.

http://money.cnn.com/2012/04/13/news...m?iid=HP_River

I wasnt aware the industry was troubled...supply is good..prices are down..seems like a market that is functioning correctly.
But no. The Feds want to streamline regulations and talking points.
Lemme tell you. When the Feds talk streamlining? What they really mean is how do we change the market...how do we remind the industry that must yield to our wills.

More here and you can see the caution that state regulation is often enough. They seem generally ok with the suggestion but understandably cautious.

http://www.api.org/news-and-media/ne...g-reviews.aspx

[Nate]

^

I was the lead design engineer on this entire product line:
4" Single Flanged Internal Valve

One of it's hopeful functions is in the gas fracking industry. 6 valves per tank typically, half a dozen tanks on site at least. 1000's of valves to be sold, $millions in revenue.

I don't work at MEC anymore due to family/commute, but it hits home for me when I see government sticking its nose into things it entirely doesn't understand. Not only the science of it, but the fact they'll be directly affecting the little guy - a relatively small family owned business.

To see government meddling in the success of my first major product launch as an engineer, my beautiful 4" all 316 stainless investment cast work of art no less, makes me want to throw up.

MADE IN THE USA, but it won't be needed because big government is going to get in the way.

[AMDScooter]

Here is exactly why business develop an attitude that isnt always expansionary. And an example of Federal government injecting itself where help isnt needed or even wanted.

http://money.cnn.com/2012/04/13/news...m?iid=HP_River

I wasnt aware the industry was troubled...supply is good..prices are down..seems like a market that is functioning correctly.
But no. The Feds want to streamline regulations and talking points.
Lemme tell you. When the Feds talk streamlining? What they really mean is how do we change the market...how do we remind the industry that must yield to our wills.

More here and you can see the caution that state regulation is often enough. They seem generally ok with the suggestion but understandably cautious.

http://www.api.org/news-and-media/ne...g-reviews.aspx

Aside from the obligatory "where has all the left's outrage over the use of EO's gone?" question that pops into mind every time this d*ck with ears in the WH uses one... you are spot on Jim. Got a industry doing well despite the best efforts of the administration to chase every business and investor offshore so of course he feels obliged to intervene and protect his perfect record of f*ckups.

Some reality on this joke in the WH's "buffet" distraction:

Okay. Let’s do the math. The Joint Committee on Taxation estimates this new tax would yield between $4 billion and $5 billion a year. If we collect the Buffett tax for the next 250 years — a span longer than the life of this republic — it would not cover the Obama deficit for 2011 alone.

&

The case for the Buffett tax keeps eroding. When President Obama announced the idea, he said it would help "stabilize our debt and deficits over the next decade." Then came the inconvenient revelation that the new 30% millionaire's tax would raise only $46.7 billion over 10 years, and would leave about 99.5% of the deficit intact in 2013. It was a far cry from "stabilizing the debt."

[falcon_view]

^^^ There's the California solution... let the prisoners go free.

No, more like Arizona....Tents