economy

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Chance of Double-Dip Recession in 2011 Falls to 15%
Chance of Double-Dip Recession in 2011 Falls to 15%
economists predict
Dec 13, 2010 8:25 AM CST

Chance of Double-Dip Recession in 2011 Falls to 15%

GDP will grow 3%, they estimate

(Newser) - The Bush tax cut deal has some economists walking on sunshine. Experts are getting more upbeat in their forecasts for next year, predicting accelerating growth, finds the Wall Street Journal in its latest forecasting survey. The 55 experts who weighed in expect GDP to grow in “nearly every period,...

Bernanke Ready to Spend More to Prop Up Economy

Don't worry about inflation, he adds

(Newser) - Federal Reserve Chairman Ben Bernanke is such a fan of the decision to buy $600 billion in Treasury securities to prop up the economy that the Fed is prepared to spend even more. Added economic stimulus might still be needed because the current recovery is weak, Bernanke warned in an...

Tax Cut Showdown: Dems' Two Options

Must win centrists as Bush cuts expire

(Newser) - When it comes to tax cuts, the Democrats’ options are few. Politically speaking, it’s too late to force the expiration of Bush cuts on those earning more than $250,000. But Dems have two notable choices, writes David Leonhardt in the New York Times : one, to let the Bush...

As Crises Spread, Europe Scrambles for an Answer
As Crises Spread, Europe Scrambles for an Answer
analysis
Dec 1, 2010 10:04 AM CST

As Crises Spread, Europe Scrambles for an Answer

Even healthier countries now feeling pinch

(Newser) - Financial crises in Greece, Ireland, and Portugal have stoked fears for Italy, Belgium, and the more robust Germany as Europe struggles to find a solution, the New York Times reports. Worry that Germany may have to pay the brunt of bailout costs have prompted the sale of its debt; investor...

Portugal Screeches to Halt as Unions Strike

Trains, planes, banks shut down in unions' joint effort

(Newser) - The largest Portuguese unions banded together and went on joint general strike today, the first of its kind since 1988, the New York Times reports. The unions, protesting a government austerity plan amid a debt crisis, halted trains, buses, planes, health care, and banking services. “What’s coming for...

'Guidelines,' No Specifics, at G20

Obama slams China over currency manipulation

(Newser) - G20 leaders have agreed to curb “persistently large imbalances” in saving and spending and set “indicative guidelines” against trade imbalances, but more specific decisions on how to identify and fix said imbalances were left until next year, reports the New York Times . The finance minsters are to agree...

GM Earns $2B in Q3
 GM Earns $2B in Q3 
Nov 10, 2010 10:33 AM CST

GM Earns $2B in Q3

Biggest quarterly profit in more than a decade

(Newser) - General Motors has reported a $2 billion third-quarter profit, its biggest quarterly report in 11 years. The figure shows that GM doesn’t need to sell big to earn big anymore, writes Nick Bunkley in the New York Times . A week before its initial public offering—which will reduce the...

Obama Talks Mistakes, Midterms in 60 Minutes Interview
 Obama: Tone Has 'Slipped' 
INTERVIEW
Nov 8, 2010 7:26 AM CST

Obama: Tone Has 'Slipped'

Prez talks mistakes, midterms on 60 Minutes

(Newser) - President Obama acknowledged mistakes since entering office, including “slipping” on maintaining a better tone in Washington, in a 60 Minutes interview last night, Politico reports. “Part of my promise to the American people when I was elected was to maintain the kind of tone that says we can...

Secret to Recovery: Optimism
 Secret to 
 Recovery: 
 Optimism 
opinion
Nov 5, 2010 1:54 PM CDT

Secret to Recovery: Optimism

Obama, Boehner must promote American confidence

(Newser) - There’s a big economic problem that’s been keeping a low profile: American confidence, writes David Smick in the Washington Post . “Between $2.5 trillion and $4 trillion of private capital is waiting on the sidelines to ‘reliquify’ a new era of American confidence and innovation,”...

Obama Spins India Trip Into Job Mission

Critics scream about cost despite widely discredited report

(Newser) - Faced with a barrage of outrage—based on a discredited report—over the cost of his 10-day trip to India, Indonesia, South Korea, and Japan, Barack Obama has rebranded it as a jobs mission. “The primary purpose is to take a bunch of US companies and open up markets...

Why This Vote Really Matters
 Why This 
 Vote Really 
 Matters 
Charles Krauthammer
Oct 29, 2010 12:34 PM CDT

Why This Vote Really Matters

This election (and the next) is about the role of government: Krauthammer

(Newser) - Tuesday's vote will be a blast for Republicans, but "the direction of the country” won't truly be determined until the 2012 election, writes Charles Krauthammer. Until then, with Obama’s veto power and Democrats’ shrunken numbers, nothing much will get done. Still, the “beauty” of these next two...

GDP Grows 2% in 3Q
 GDP Grows 2% in Q3 
Oct 29, 2010 8:54 AM CDT

GDP Grows 2% in Q3

Growth fits economists' predictions

(Newser) - The economy grew slightly faster over the summer as Americans spent a little more freely: The GDP grew at a 2% rate during the third quarter, in line with what economists had forecast. It marks a slight improvement over last quarter, when the GDP grew at a 1.7% rate....

Economy Loses 95K Jobs
 Economy Loses 95K Jobs 
Oct 8, 2010 8:01 AM CDT

Economy Loses 95K Jobs

Unemployment hovers at 9.6%

(Newser) - A wave of government layoffs last month outpaced weak hiring in the private sector, pushing down US payrolls by a net total of 95,000 jobs. The unemployment rate held at 9.6%, says the Labor Department. The jobless rate has now topped 9.5% for 14 straight months, the...

The Next Big Crash: Japan
 The Next Big Crash: Japan 
Analysis
Sep 27, 2010 1:19 PM CDT

The Next Big Crash: Japan

Country's aging population makes it a 'global time bomb'

(Newser) - The next great economic catastrophe could be looming in Japan, according to one financial analyst. “We try to avoid hyberbole as much as possible,” writes Hedgeye analyst Darius Dale in Fortune . But after examining Japan’s aging population and pension obligations, “we have to say that, in...

We Actually Need More Immigrants

 We Actually Need 
 More Immigrants 
Ezra Klein
Sep 27, 2010 11:31 AM CDT

We Actually Need More Immigrants

We'll wind up with more jobs for natives, not less

(Newser) - Ezra Klein has a plan that will drastically improve our economy by lowering prices and raising wages. “But few politicians are going to want to touch it,” he writes in Newsweek , because the plan is this: “More immigration.” Americans often make the mistake of thinking that...

Why America Is So Angry and Miserable
Why America Is So Angry and Miserable
OPINION
Sep 23, 2010 8:53 AM CDT

Why America Is So Angry and Miserable

Blame our culture of entitlement, victimhood, and greed

(Newser) - These days, America seems defined by a near-ubiquitous “simmering resentment, frustration, and anger,” writes Charles Hugh Smith on his Of Two Minds blog. Why is that? Smith blames:
  • A culture of entitlement: From Social Security recipients to Wall Street welfare queens, “most of us have to elbow
...

Fed: We Could Help Economy...
 Fed: We Could 
 Help Economy... 
Sep 22, 2010 11:05 AM CDT

Fed: We Could Help Economy...

...But we won't just yet

(Newser) - The Federal Reserve yesterday reassured the public that it was “prepared to provide additional accommodation if needed” to support the recovery, but that it didn’t think it was needed just yet. But merely suggesting the possibility was enough to send markets in the right direction, with interest on...

Tax Cuts: Good for Politicians, Not Economy

There are better ways to go, but no one wants another stimulus

(Newser) - “Tax cuts” is a phrase politicians love, especially in election season—but they may not do the economy much good at all. Those in favor of extending the Bush tax cuts (Republicans and a few Democrats) argue that ending the tax cuts, thus increasing taxes, for anyone—even the...

Obama: We're Sunk Without a Strong Middle Class

He lays out his plan for economic recovery

(Newser) - President Obama today delivered his big speech on the economy, though the big themes were laid out in advance. He reiterated that it's time to extend Bush-era tax cuts for the middle class—but that the nation can't afford the Republican approach of extending tax cuts for the wealthy as...

Obama Promises Action On Economy

...But warns that there's 'no quick fix'

(Newser) - There is “no quick fix” for the economy, Barack Obama said today in a speech at the White House, but his team is working on a new series of proposals to boost growth and hiring. Obama spoke following the Labor Department’s latest employment report, which showed that private...

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