The Yellen Federal Reserve is more concerned about inflation taking off than the Bernanke Fed. If inflation moves up, the Yellen Fed will raise short term interest rates and slow the economy.
With the Veterans Administration (VA) about to face hearings on Capitol Hill regarding preventable deaths in their system, the Center for Investigative Reporting (CIR) released a report exposing the VA ha secretly paid $200 million to settle nearly 1000 wrongful deaths over the decade following 9/11.
The HSBC/Markit Purchasing Managers’ Index (PMI) of economic demand in China reported that demand in China’s factories fell for a second month in a row and hit a seven month low.
The main-stream media were shocked today when U.S. job growth continued at a very strong pace in November, despite the October government shutdown that ended on October 17th. Employers added 203,000 jobs and the reported unemployment rate fell from 7.3% to 7%, its lowest level since November 2008. Economists had predicted a rise of only […]
China just announced that after 34 years of restricting population growth through its one-child policy, the nation will now allow families to have two children if one of the parents is an only child. The policy “initially produced a population pyramid optimal to economic growth – that is, where the largest segments of the population […]
With the Dow Jones stock index up 115% from March 2009 to an all-time and the number of bearish investors at the lowest point in 25 years, it should not be surprising that this years’ Nobel Prize winning economist, Robert Shiller, would warn over the weekend that greedy investors might be blowing themselves a dangerous […]
Majority Leader Harry Reid and President Barack Obama rallied 52 Democrats and independents to vote to weaken 224 years of protection of minority rights in the Senate by eliminating the filibuster. Now only 51 votes, rather than 60, are required for Senate approval of executive and judicial branch nominees. Complaining that Republican intransigence drove him to use the “Nuclear Option”, Reid argued, “There are currently 75 executive branch nominations ready to be confirmed by the Senate,” he said, “waiting an average of 140 days.” But Republican Senator Susan Collins responded, “I think the minority will rue the day that they broke the rules to change the rules.”