FeedPosted Feb 9th 2010 5:20PM by Joseph Lazzaro (RSS feed)
Filed under: Employees, Politics, Recession

What might get the Republicans to bite on the jobs bill currently under formulation on Capitol Hill? A lack of an estate tax.
The bipartisan Senate bill that may come for a vote this week is not likely to include an extension of the estate tax, which expired at the end of 2009, Reuters
reported Tuesday (however, Washington's likely, second heavy storm/blizzard in a week, expected to arrive Tuesday night, may delay the vote: most federal offices were closed again Tuesday for snow clean-up).
Continue reading Bipartisan Support Growing for Jobs Bill
Posted Feb 8th 2010 10:00AM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Employees, Recession

One of the world's preeminent economists and former central bankers had some good news and not-so-good news for investors.
Speaking on NBC's
Meet The Press on Sunday, Former U.S. Federal Reserve Chairman Alan Greenspan said, "The recession is over. It bottomed back in the middle of the year."
However, Greenspan added that, as many economists agree, the economic recovery will have to continue for some time to absorb the slack in the labor force to lower the U.S. unemployment rate significantly.
Continue reading Greenspan: 'The Recession Is Over'
Posted Feb 5th 2010 5:40PM by Joseph Lazzaro (RSS feed)
Filed under: Recession, Financial Crisis

The political climate in Washington is hardly conducive to a joint resolution by the Democrats and Republicans honoring Moms on Mother's Day, let alone high-stakes banking issues, but one reality is clear: if banks don't starting providing more credit to small and medium-sized businesses, Congress will have to create agents -- or new institutions -- that do.
The issue is too important for the long-term health of the economy: small and medium-sized businesses
account for the bulk of America's jobs and new hiring.
Presently, demand is growing incrementally, but as it increases, if business credit lines don't as well, the recovery could stall, necessitating Congressional action.
Continue reading Banks Still Not Providing Enough Credit to Small Businesses
Posted Feb 4th 2010 5:20PM by Connie Madon (RSS feed)
Filed under: International Markets, Products and Services, Management, Indices, Market Matters, Money and Finance Today, Economic Data, Personal Finance, Commodities, Oil, Headline News, DJIA, Recession
This morning the big news of the day was the drubbing of European stock markets as fear spread throughout the region. Fear was generated by concern that some European countries could default on their sovereign debt. Among them are Greece, Spain, and Portugal.
Greece's budget gap is 12.7% of GDP Greece has to slash spending and may need IMF assistance.
Investors sold investment deemed risky such as commodities, gold and stocks and moved their money into bonds. This started a selling frenzy in commodities with oil falling $3.14 per barrel to $73.14 per barrel. Brent crude fell $3.79 per barrel to $72.13 per barrel.
Continue reading Oil Plunges 5% on Fears That European Economies May Falter
Posted Feb 4th 2010 3:00PM by Joseph Lazzaro (RSS feed)
Filed under: Politics, Recession, Financial Crisis

What to make of the Tea Party at this junction? It's too soon to tell. You'll hear a great of rhetoric, and banter and hype, but regarding a systematic and professional evaluation of 'the TP,' there just aren't enough data points yet.
Hence, for now, place them in the category of
a faction. Factions are more likely to be merged into an existing party, form a separate interest group, or disband.
Continue reading Will the Tea Party Endure?
Posted Feb 4th 2010 10:00AM by Connie Madon (RSS feed)
Filed under: Employees, Economic Data, Politics, Recession
Initial claims for unemployment rose by 8,000 to a seasonally adjusted 480,000 in the week ended January 30. This surprised economists polled by Reuters who anticipated a drop in claims falling to 460,000 from a previously reported 470,000. A reason given for the rise was the backlog in filings due to short staffing at some state offices.
Meanwhile, the four-week moving average of new claims rose 11,750 to 488,750 last week. The number of workers still receiving aid after one week jumped 2,000 to 4.6 million for the week ended January 23. This too, was above expectations of 4.58 million. The percent of insured in the labor force was unchanged at 3.5%
Continue reading Jobless Claims Unexpectedly Jumped by 8,000
Posted Feb 3rd 2010 3:30PM by Joseph Lazzaro (RSS feed)
Filed under: Oil, Recession

What would provide both a nice 'tax cut' for Americans and boost the U.S. economy, as well?
A slide in oil's price to about $45-50 per barrel. And wouldn't the sound of $45 oil be music to policy makers' ears?
Rising gasoline prices most certainly pose a risk to the U.S. economic recovery, and the reverse, a decline, provides a tailwind. Every $1 per barrel drop in oil's price increases U.S. GDP by $100 billion per year and every 1 cent decrease in gasoline's price increases U.S. consumer disposable income by about $600 million per year.
Continue reading U.S. Economy Could Use 'Tax Cut' in the Form of Lower Oil Prices
Next Page »