Must Read

Economic and and financial news and analysis

The Tax Side of the Fiscal Cliff – NYTimes.com

Come January, if Congress fails to act, sweeping federal tax increases will hit in what is not at all affectionately nicknamed in Washington “taxmageddon.” How big are those federal tax increases? The respected Tax Policy Center is out with a full analysis of the math, and estimates the impact at more than half a trillion…

ISM New Orders Index Jumps As Economy Accelerated in September

ISM New Orders Index Not Seasonally Adjusted The ISM not seasonally adjusted (NSA-in other words, actual) new orders index had been diverging from the stock market as the growth rate of the US manufacturing sector slowed. This has happened in the past over long periods of time, including 2004 to 2007. After a weak reading…

Strong September Withholding Tax Receipts Bode Well For Jobs

Updated October 1, 2012 More timely updates of this data are posted in the Professional Edition weekly Treasury updates. September withholding taxes rose 4.5% in real terms versus September 2011. That suggests that a positive surprise may be coming in the release of the non-farm payrolls on Friday October 5. This chart compares current withholding…

JP Morgan’s Food Stamp Empire – The Daily Beast

Another story showing that banks are little more than blood sucking demons, preying on the body politic at all socioeconomic levels. In 2010, President Obama signed into law the Healthy, Hunger-Free Kids Act. The bill added $4.5 billion to child-nutrition programs over the next decade, put in place nutrition standards for school lunch programs and…