CNN Money: Economy: "Read full story for latest details."
I have been saying all along those inflation numbers were deflated. Fear of stagflation will dominate Fed action in the short term. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "CBO says fiscal '06 gap is $50 billion below year earlier, due largely to 13% increase in money taken in."
This is exactly the same as my saying, well the bad news is I went another $50,000 in debt this year, but, the good news is, I got a $4,000 raise this year, so, I am doing much better this year. Tell it to my daughter who will be entering the work force in a few years paying the taxes on an $11 Trillion national debt. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
In other words, STAGFLATION could be returning. A quick review of history shows aside from the Great Depression, our Stagflation period a few decades ago was one of the most hated economic periods in 100 years. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
Only a blind person with no media access would have thought otherwise. Fact is, we would not want the economy to continue the pace of growth of recent months which is stimulating inflation, due to real wages not being the recipient of productivity or profit gains. I have been saying this was going to happen for quite a long time now. It is good to have investments sitting on the sidelines as major market adjustments are now being made to correct for the Bush' administration's rosy rhetoric about the economy. Fact is, stagflation is rearing its ugly head, and millions of Americans are losing their shirts following the White House's advice. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
USATODAY.com News - Top Stories: "Business productivity was stronger than first estimated in the first quarter of the year and labor cost pressures were much better ...
Slate Magazine: "Or, why it's so hard to measure inflation."
An intellectually challenging article for followers of economic assumptions. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Consumer spending grew in April at the fastest pace in three months, supported by solid income growth. But in a worrisome development, ...
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Christian Science Monitor: All Stories: "Market turmoil from India to New York reflects concern about inflation and interest rates.
USATODAY.com News - Top Stories: "Sales of new homes rose unexpectedly in April to the fastest pace this year, but the level of unsold homes rose to a record high. ...
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CNN Money: Economy: "Toll Brothers, the leading U.S. luxury home builder, reported fiscal quarterly profit rose 3 percent on higher home prices, but the company lowered its earnings forecast for the year in another signal of a slowing U.S. home market."
USATODAY.com News - Top Stories: "Consumer prices jumped 0.6% in April, the most in three months, pushed higher by rising costs for a wide range of goods and services ...
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Christian Science Monitor: All Stories: "Some economists worry that a stronger yuan would revive US inflation, prompting the Fed to raise interest rates again.
USATODAY.com News - Top Stories: "Consumers, spurred by a late Easter and warmer-than-usual weather, pushed retail sales up a solid 0.5% in April, although the ...
No, no, no, that .5% rise was due to Republican tax cuts. USA Today apparently didn't get the GOP memo! -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Mortgage applications fell last week as fewer people sought to refinance as interest rates hit their highest this year, an industry ...
Reuters: Top News: "WASHINGTON (Reuters) - The U.S. Federal Reserve lifted interest rates for a 16th straight time on Wednesday and said it would keep raising rates if necessary to check inflation, though it opened the door to a possible rate pause.
I have been raising the spectre of inflation for quite a long time now, and as if I were correct, the Fed has been continually raising rates. So, why does the White House continue to lie saying inflation is in check. It isn't, hasn't been, and Bernanke is now indicating it won't be in the immediate future. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Payroll growth in April was the weakest since shortly after last summer's hurricanes, the government said Friday, but there were signs of a tighter labor market in the report as well."
CBS News: "A combination of factors " the Dow reaching a six-year high, employment growth moderating " delighted investors. But pain at the pump and rising health costs seem to be causing broader uncertainty, including low approval for President Bush."
Christian Science Monitor: All Stories: "Foreign carmakers are gaining market share as high gas prices leave more trucks, SUVs on the lot.
Duh, you think? US automakers have been losing marketshare to foreigners for decades. Foreign manufacturers know our consumers better, and anticipate their needs far better than our American companies do. -- David R. Remer, PoliWatch.Org.
CBS News: "U.S. hybrid vehicle sales more than doubled last year, according to new data released Thursday, although they still only comprise slightly more than 1 percent of U.S. vehicle sales."
CNN Money: Economy: "U.S. retail chain stores delivered some strong sales numbers last month, helped largely by a shift in the holiday calendar which delayed Easter shopping by a month into April and the onset of warmer weather which fueled buying of summer merchandise."
USATODAY.com News - Top Stories: "Oil prices fell below $74 a barrel Wednesday after the U.S. government released data showing that gasoline demand has been flat ...
When the price falls below $60 a barrel, then the word "tumble" would be appropriate. 73$ a barrel is still record high pricing. Get a grip on your adjectives USA Today. -- David R. Remer, PoliWatch.Org.
ABC News: Politics: "Trustees See Decline in Financial Health of Social Security and Medicare"
Another shocking display of the obvious! So, why aren't we taking steps now to fix it again? Oh, yeah, the President refused all options except the one the American people would not accept. Now I remember. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
I trust everyone understands that Construction spending is based on increased debt load. America is one now officially the greatest debtor nation in the world. Anyone can spend as if they are wealthy using credit - for awhile, that is. Eventually, the facade comes crashing down as the interest rates rise and the payments loom larger than one is able to pay. That is exactly what is coming with the baby boom retirement event. Massive defaults by the U.S. government on its contractual obligations to its people. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "A closely watched manufacturing index showed surprising strength in April but a key index of prices also jumped."
CNN: Politics: "Acknowledging the energy situation is a "crisis," U.S. Energy Secretary Sam Bodman said Sunday it could take three years before drivers get relief from high gas prices."
I don't think Americans will ever get relief from high oil prices until we quit using it. Its the reality of supply capacity and growing global demand. -- David R. Remer, PoliWatch.Org.
Independent: World News: "John Kenneth Galbraith, probably the most famous left-wing economist of his age and author of The Affluent Society, has died."
CBS News: "Gross domestic product increased at a 4.8 percent annual rate in the first three months of the year, the biggest gain in 2 years, and almost three times the rate in 2005's fourth quarter. Consumers, businesses and government all did their part."
But as Ben Bernanke, the Fed Chairman said yesterday, the latter half of this year will slow significantly due to rising energy costs. Overall average for GDP in 2006 will come in around 3.2 to 3.8%. Which is ideal for our economic circumstances and the short term economic picture. The long term economic picture remains dire indeed with the confluence of energy costs, retiring baby boomers, and the absence of America savings making us ever more dependent on foreign nations to float our massive national debt. -- David R. Remer, PoliWatch.Org.
Independent: World News: "The Iraq war has already cost the United States $320bn (£180bn), according to an authoritative new report, and even if a troop withdrawal begins this year, the conflict is set to be more expensive in real terms than the Vietnam War, a generation ago."
CNN Money: Economy: "Federal Reserve Chairman Ben Bernanke told Congress Thursday that the economy has rebounded "briskly" after Hurricane Katrina last year and added that the pace of economic growth would slow a bit as the year progresses."
USATODAY.com News - Top Stories: "Factory orders factories for big-ticket manufactured goods soared in March by the largest amount in 10 months, reflecting a ...
CNN Money: Economy: "High energy prices generally aren't the fuel of a hot economy. But you can't prove it by recent economic numbers."
CNN Money: Economy: "Read full story for latest details."
Washington Post: Today's Highlights: "Amid growing Republican unrest about the politics of $3-plus fuel, president also plans to divert oil reserves and ease environmental regulations."
He will get better traction calling for a probe into profits of oil companies and their investors. But the bottom line here is, this is all for show because the summer and peak demand will be gone before the investigation is anywhere near complete. Talk about your Johnny Come Lately political magician. Now you see high prices, then you don't a few months later and so no need for any further investigation. Cute, eh? -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
It's not saying much since 2002 was shortly after 9/11 and we were still in a recession. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "NEW YORK (Reuters) - The group, already pumping as much as refiners can handle, concluded at talks here that raising its 28 million barrels per day output ceiling would not rein in runaway prices."
CBS News: "The latest gas price survey from analyst Trilby Lundberg says the pain isn't easing for American drivers. The average cost of a gallon of gas jumped another 25 cents in the last two weeks."
Christian Science Monitor: All Stories: "The shrinking real estate bubble and the US trade deficit are early indicators of recession.
Add the retirement of the baby boom generation and you have a depression on the horizon. -- David R. Remer, PoliWatch.Org.
Christian Science Monitor: All Stories: "Fund companies based overseas are quietly opening their doors to US investors seeking ethical companies.
Where one invests one's money can be an even more powerful vote than at the ballot box. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "The average price of a regular gallon of gasoline at a self-service pump reached $2.90 Sunday, a 1.6 cent gain from the day before and less than 16 cents below the all-time record, the motorist advocacy group AAA said."
USATODAY.com News - Top Stories: "In a powerful testament to U.S. health improvements, the annual number of deaths in the country dropped by about 50,000 in 2004 ...
Which of course, paves the way for even faster US bankruptcy as more live longer in their retirement years consuming more public funds and producing nothing for the economy except medical bills. Don't get me wrong, I want to live as long as possible too! But, when is Congress and the President going to take this new reality into account and stop the deficit spending which is going to bankrupt our children's future earnings and dictate many seniors die prematurely for lack of funding 20 years from now. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Higher gasoline prices pushed inflation higher in March, the government reported Wednesday, but even stripping out food and energy there was surprising upward pressure on consumer prices last month."
It was afterall, inevitable! -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Oil prices jumped above $72 a barrel to yet another record Wednesday after a government report said supplies of crude made a surprise decline and gasoline stocks fell far more than expected."
We keep paying more and they keep setting new profit and wealth records. Are you going to vote for your incumbent representative in November who is allowing this rape of the public's hard earned wages at the pump? -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "NEW YORK (Reuters) - Federal Reserve Chairman Ben Bernanke said tax cuts can spur greater economic activity and boost economic efficiency, but generally do not wholly pay for themselves."
Thank you Mr. Bernanke for confirming what I have been saying all along. The White House has continually lied about tax cuts creating more revenue than the tax cuts subtract from revenues. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "WASHINGTON (Reuters) - Federal Reserve policy-makers, attheir meeting on March 27-28, felt the U.S. central bank wasnearly done raising interest rates but remained worried aboutpotential inflation risks. "
The world went through a recession beginning in 1999, and now the world is poised with its many emerging markets to move into a global growth period. This fact as evidenced by GDP numbers around the globe and current international markets, is the best proof yet, that America no longer needs to make the tax cuts permanent. Instead many if not all of the tax cuts should sunset (end) allowing a boom in government revenues to offset the 400 billion a year deficits. But, you won't see a sensible move like that come from the White House and likely not even out of Congress though supporters are growing there. -- David R. Remer, PoliWatch.Org.
Christian Science Monitor: All Stories: "Consumer confidence in future economic conditions fell slightly in a survey last week.
Accompanied by trillions in consumer debt. Yes, more than 2 Trillion dollars. If the government can spend with abandon tax payers money, why not American citizens. If the country is going to go bankrupt, might as well enjoy the ride to the brink. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "As gasoline prices spiral upward ahead of the high-demand summer season, some traders and consumer advocates are laying at least part of the blame squarely on the doorstep of the federal government. ...
But Bob Simon, the Democratic staff director for the Senate Energy and Natural Resources Committee refused to take the blame, saying the change has been in the works for years and that energy companies should have been prepared.
"The refineries were betting that they were going to get MTBE liability protection, and they placed a bad bet," said Simon, noting that the committee's chairman said publicly last year that there was no way the product would ever get liability protection. "I don't know how much clearer it could have been.""
CNN Money: Economy: "Read full story for latest details."
And their profits will be records again, too! But, will that move the Republicans to cut subsidies or raise taxes on the oil fat cats? Nah! So, a hundred million Americans do without this summer. Congress and the President don't have to budget their travel expenses, they've have an unlimited supply of our children's future earnings for that. That's the very definition of deficit spending. -- David R. Remer, PoliWatch.Org.
CBS News: "Crude oil futures hit $70 a barrel for the first time in seven-and-a-half months. Concerns over declining gasoline stocks in the U.S., supply disruptions in Nigeria and tension over Iran's nuclear program pushed prices higher."
It's almost as if someone has created an economics laboratory and is testing to see what the maximum limit on profitability for oil related investments can return. We are all, of course, the guinea pigs. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
More riches for the Bush and Saud families. You voted for it, you got it!!! -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Tech workers are back in hot demand, according to a report released Monday."
CNN Money: Economy: "American drivers are being socked with skyrocketing gasoline prices and could even see shortages this summer as refineries struggle to switch additives that make cleaner burning fuel."
CNN: Politics: "Job growth was a bit stronger than economists had expected in March, pushing the unemployment rate back to the lowest in nearly five years, the government reported Friday."
Not if you subtract the jobs held by illegal immigrants. It's not fair for Bush to tout job growth when millions of those jobs are held by illegals. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Consumer credit outstanding rose to $2.164 trillion in February, rising at an annual rate of 1.8 percent from a slightly revised $2.161 trillion in January."
I just did a quick calculation, assuming a work force of 146 million, that breaks out to $14,801,369.86. Yes, I double checked, that is 14.8 million dollars of consumer debt for every working person in America. Someone is hiding something here. And that 1.8% equals roughly $38 billion more in debt each year. Does anyone else have a problem with these numbers? Canada is looking mighty inviting this time of year. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Job growth was a bit stronger than economists had expected in March, pushing the unemployment rate back to the lowest in nearly five years, the government reported Friday."
I am curious, do these figures include the 11 million illegals or not? -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Cooler temperatures and a later Easter gave consumers little incentive to shop last month and left retailers with tepid sales ..."
USATODAY.com News - Top Stories: "The number of Americans filing claims for unemployment benefits fell for a third straight week and longer-term unemployment slid ..."
Hopefully this will result in the halt of real wage decline that has plagued our working people for the last two decades, but, don't count on it. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "The unemployment rate for immigrants working in the United States fell below the rate for U.S.-born workers for the first time since the Labor Department started tracking those numbers a decade ago."
Why am I not surprised? -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Read full story for latest details."
This is good news despite the aenemic 1.7% 4th quarter growth. But, the price in national debt for this bit of good news, has been enormous. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "TOKYO (Reuters) - China should gradually reduce its holdings of U.S. debt and can stop buying dollar-denominated bonds, Cheng Siwei, a vice chief of China's parliament, was quoted on Tuesday as saying.
With China a leading financier of the U.S. current account deficit, Cheng's comments sent the dollar lower against the euro and yen and also pushed down prices of U.S. government bonds."
I have been warning this day would come for a couple years now. China may not follow this advice now, but, they are certainly testing the leverage power of such a move, make no mistake!!! The U.S. with a commitment to an 11.2 Trillion dollar national debt, has much to be concerned about here. Thanks to our Congress and Presidents who have put is into these deep debt hole dependent upon foreign investors for 40% of that national debt. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Manufacturing growth slowed in March, according to a closely watched survey of industry executives released Monday."
American Prospect: "While electronics have become more affordable, the costs of housing, college education, and health care are rising."
But them electronics and other imports keep the overall inflation number down. The government and the Fed care about the overall number. It is only working, retired and student poor to middle class who care about housing, education and health care. We know they don't count, they don't lobby!!! -- David R. Remer, PoliWatch.Org.
