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Wynn Slams Obama On Business: | RealClearPolitics
Steve Wynn, CEO of Wynn Resorts, slams President Obama on a company conference call today. Below are the most damning portions of the call:
I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating.
And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare
Precious Metals: Gold Tops $1,600 an Ounce as Debt Fears Simmer - CNBC
Gold prices rallied to record highs above $1,600 an ounce on Monday, as investors spooked by the euro zone debt crisis and the threat of a U.S. default bought into the metal as a haven from risk.
Michael Boskin: Get Ready for a 70% Marginal Tax Rate - WSJ.com
Stanford economist Michael Boskin writes in The Wall Street Journal that those who argue that the U.S. economy can bear higher pre-Reagan tax rates are wrong—those rates applied to a much smaller fraction of taxpayers than what we're headed for without spending cuts.
How Bernanke’s Fed Triggered the Great Recession - Richard M. Salsman - The Capitalist - Forbes
As usual, when Fed chairman Ben Bernanke testified before Congress this week not a single Congressman asked him why he deliberately and transparently triggered the Great Recession of 2007-2009, which was accompanied by a frightening financial crisis, gargantuan bailouts and huge fiscal deficits. Nor has Bernanke been held accountable for [...]
John Mauldin: What Happened To The Jobs? | Markets | Minyanville.com
Here, a look at not only the jobs report, but also "what-if" proffers for the US and global economies.
Review & Outlook: Taxes Upon Taxes Upon . . . - WSJ.com
The Wall Street Journal says that President Obama wants $1 trillion in new taxes on top of the multiple tax increases he's already signed as part of the Affordable Care Act.
Boehner’s decision means an opportunity lost - The Washington Post
House Speaker John Boehner’s decision to abandon talks over a comprehensive budget deal may be smart politics but it’s a lost opportunity.
Get Ready for $150 Oil - Barrons.com
After a decline this summer, crude's price is likely to rise sharply by next spring. It will hurt the economy, but it won't be a disaster.
Geithner to Consider Leaving Treasury After Debt Debate - Bloomberg
Treasury Secretary Timothy F. Geithner has signaled to White House officials that he’s considering leaving the administration after President Barack Obama reaches an agreement with Congress to raise the national debt limit, according to three people familiar with the matter.
Oil slammed as strategic petroleum reserves to be tapped - The Tell - MarketWatch
Oil prices are being slammed, off 4%, on an emergency meeting of the International Energy Agency in Paris to announce the release of 60 million barrels of oil from global strategic petroleum reserves. Member countries of the IEA voted on the release. “Today, for the third time in the history of the International Energy Agency, [...]
How Did 2011 Go So Wrong? America's Two-Speed Recovery - Derek Thompson - Business - The Atlantic
It's not just high gas prices. America has a growth problem and a jobs problem that might be beyond Washington's control.
Stock Market and Investing and Gas Prices: Don't Expect to See Gasoline Below $3 Any Time Soon - CNBC
While oil has fallen sharply since May, gasoline is down just about 10 percent and it is not likely to drop below $3 any time soon.
Gross Says More Quantitative Easing Unlikely: Tom Keene - Businessweek
Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said the Federal Reserve is unlikely to do a third round of quantitative easing even with the economy adding fewer jobs than forecast.
Wall Street Baffled by Slowing Economy, Low Yields: Trader - CNBC
Wall Street is having a hard time figuring out what to do now that the US economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.
Horror for US Economy as Data Falls off Cliff - CNBC
The last month has been a horror show for the U.S. economy, with economic data falling off a cliff, according to Mike Riddell, a fund manager at M&G Investments in London.
Coming this summer: $5 gas; The living's easy but driving will be hard - NYPOST.com
The forecast for the summer driving season: Hit the road early. Not to beat the traffic, but to beat the higher gas prices expected in mid-July.
Review & Outlook: The Gates Farewell Warning - WSJ.com
The Wall Street Journal argues America can be a superpower or a welfare state, but not both.
Treasury to tap pensions to help fund government - The Washington Post
The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public.
A storm gathers over equities markets - Yahoo! News
The big money is calling a halt to the surge in stock prices.
Gasoline futures tumble as demand slides - Yahoo! News
Gasoline futures tumbled almost 8 percent Wednesday after a government report added more evidence that Americans are driving less because of higher pump prices.
Average Gas Price Poised To Hit $4 A Gallon This Week
The price of gasoline continues to rise and is now a few pennies away from $4 a gallon.
The Intimidated Fed - NYTimes.com
Instead of addressing the dismal unemployment picture during Wednesday’s press conference, Ben Bernanke bent to the inflationistas.
Economic growth slows, inflation surges - Yahoo! News
Economic growth braked sharply in the first quarter as higher food and gasoline prices dampened consumer spending and sent inflation rising at its fastest pace in 2-1/2 years.
Federal Reserve: Bernanke: Fed Sees Slower Growth, Uptick in Inflation - CNBC
In his first regular news conference, Federal Reserve Chairman Ben Bernanke said the central bank was continuing its stimulus policy because it was projecting slower growth in the economy with only a modest uptick in inflation.
Gas Prices: Californians Are Mad as Hell but Still Driving - Yahoo! News
Though many drivers say they're not price hunting or changing their driving habits, some businesses are hurting
'Value cars' replace bare-bones bottom-feeders - USATODAY.com
One of the most significant trends at the New York Auto Show is the emergence of value cars.
Gas prices rising more slowly, might have peaked - CNN.com
Gas prices jumped more than 11 cents over the past two weeks, but the pace of higher pump prices has slowed and they may have peaked, according to a survey published Sunday.
Gas Prices Soon to Change the Average American - Yahoo! News
COMMENTARY | Less than a year ago I bought an SUV. A big one. Seats eight and can easily accommodate my two daughters, a soon-to-be-step daughter, my fiance, and the dog. It seemed to be the perfect purchase for a budding family with places to go and things to do.
Can Manhood Survive the Recession? - Newsweek
If this isn't the Great Depression, it is the Great Humbling. Can manhood survive the lost decade?
America’s Banker May Tell Geithner to Go Away: William Pesek - Bloomberg
Timothy Geithner says borrowing more from China to finance tax cuts for the most affluent Americans would be irresponsible.
Oil tops $112 a barrel; is $4 gas close behind? - USATODAY.com
Oil surged above $112 a barrel Friday following a drop in the dollar and continued jitters about shipments from the world's major oil suppliers.
Wal-Mart CEO Bill Simon expects inflation - USATODAY.com
Consumers face serious inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned.
Our view: Mideast oil shock threatens U.S., again - USATODAY.com
Despite four decades of promises to free the U.S. from its dependence on volatile foreign oil, the nation remains frighteningly vulnerable.
Housing Crash Is Hitting Cities Once Thought to Be Stable - CNBC
The rolling real estate crash that ravaged Florida and the Southwest is delivering a new wave of distress to communities once thought to be immune — economically diversified cities where the boom was relatively restrained, the New York Times reports.
U.S. plans to inject $53 billion into passenger rail - Yahoo! News
Vice President Joe Biden on Tuesday announced an ambitious $53 billion U.S. program to build new high-speed rail networks and make existing ones faster over the next six years.
FT.com / Commodities - Don’t panic: oil traders adapt to $100 a barrel
There is enough spare Opec capacity
YouTube - Visualizing Obama's budget cuts. Student Explains Obamanomics in 1 Minute
Visualizing Obama's budget cuts. Student Explains Obamanomics in 1 Minute
Oil's surge in 2010 paves the way for $4 gasoline - Yahoo! Finance
NEW YORK (AP) -- The price of oil is poised for another run at $100 a barrel after a global economic rebound sent it surging
Economic View - Higher Taxes Mean I’ll Work Less - NYTimes.com
A personal case study looks at some of the ways higher taxes may affect the earnings of high-income taxpayers.
Fed's Hoenig: Keeping Rates Too Low 'Dangerous Gamble' - CNBC
The Federal Reserve is undertaking a "dangerous gamble" by keeping rates at near zero for so long, and must start raising rates or risk damaging the nascent U.S. recovery, a top Federal Reserve official said on Friday.
Mortgage rates hit low of 4.54 percent - Yahoo! News
Mortgage rates are the most affordable in decades for those who can qualify for a loan.
Mystery for White House: Where Did the Jobs Go? - The Caucus Blog - NYTimes.com
Unemployment is higher than expected, and as the midterm elections near, the question is what to do about it.
Depression Fear Mongers Obscure the True Concerns: Amity Shlaes - Bloomberg
This year is supposed to be like 1932. That’s what you would believe after reading commentators who compare current patterns in the Dow Jones Industrial Average to those at the end of Herbert Hoover ’s presidency.
Arthur B. Laffer: Unemployment Benefits Aren't Stimulus - WSJ.com
Arthur B. Laffer writes in The Wall Street Journal that increasing unemployment benefits will not have a stimulative effect on the economy but it will reduce the incentive to find work. A federal tax holiday is a better way to cut the high jobless rate.
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