THE KELLY LETTER OR
Here’s one for all you cynics with eyes wide open. James Howard Kunstler posted his “Bang and Whimper” forecast at Phil’s Stock World, and it’s a humdinger. Some highlights: The biggest political shock awaiting us is the massive disruption of the major party nominating conventions next summer, when thousands of angry citizens descend on Tampa [...]
The battle in Wisconsin pitting Republican lawmakers and Governor Scott Walker against Democrats over the future of organized labor is about — well, that depends on who you ask. Republicans say it’s about fiscal reality and the need to tighten belts in this lengthy recession. Democrats say it’s about political giveaways today and campaign financing [...]
This is the Financial Almanac for Friday, March 4, 2011. 7-Minute Podcast Episode Receive this and future episodes in iTunes or another player with this feed URL: In iTunes, go to the “Advanced” menu, select “Subscribe to Podcast” and paste the feed URL into the dialog box. To hear just this one episode, click here. [...]
The House passed yesterday a stop-gap spending bill to keep the government operating through Mar 18. It would keep most agencies operating at their current funding levels but also enact about $4B in cuts as a down payment of sorts for the GOP package of $60B in spending cuts, which was approved by the House [...]
Good morning! ______________________________ OVERVIEW $1.4T Deficit is No. 1 Economic Threat | Economists think it’s worse than high unemployment and the risk of inflation or deflation. Housing Prices Falling | The Case-Shiller Index of home prices is down 3.7 percent in six months, and probably has farther to fall. Market Crash 2011 | Bears say [...]
From an 11-chart overview of inequality in America at Mother Jones.
From this morning’s Wall Street Journal: President Barack Obama’s 2012 budget proposal projects this year’s deficit will reach $1.6 trillion, the largest on record, as December’s tax-cut deal begins to reduce federal revenues, a senior Democrat said Sunday. The new forecast is larger than the $1.48 trillion deficit projected last month by the Congressional Budget [...]