The Data. The Economists. Development, rezoning cases disappearing in Phoenix. By Michael Clancy - Sept. 16, 2011 12:18 PM The Arizona Republic.
World leaders to meet on Libya as fight goes on - Detail News. Ten Years of Capital Gains Tax Cuts Proves: Rich Win, You Lose. Why are "capital gains" taxes so much lower than taxes on other income? The reason capital gains taxes are lower is because most of the income of the rich is from capital gains. And the reason most of the income of the rich is from capital gains is because capital gains taxes are lower.
Our System "Capital gains" are the gains, or profits, made from the investment of capital -- the big pools of money that a few of us have the great responsibility and burden of being stuck with. The jobless in New Jersey find refuge in Tent City. Desperate, jobless head to tent cities The jobless, now homeless, are setting up tents in Lakewood Township, New Jersey Tent City's population has nearly doubled as the recession drags on"They've got all their needs met here," says the Rev.
Brigham, who runs city Lakewood, New Jersey (CNN) -- Cars and trucks cruise along Cedar Bridge Avenue, drivers listening to radio anchors reporting the headline that a record 46 million Americans are living in poverty, while 50 feet from the bustling boulevard, hidden by the woods that border the road, lies a shocking example of that shameful statistic.
Italian Lower House Passes in Austerity Package. Sandro Scalia for The New York Times Comitini, Italy, population 960, does not appear to have major traffic problems, but it still employs 9 people to manage the flow.
The auxiliaries, who earn a respectable 800 euros a month, or $1,100, to work 20 hours a week, are among about 64 Comitini residents employed by the town, the product of an entrenched jobs-for-votes system pervasive in Italian politics at all levels. “Jobs like these have kept this city alive,” said Caterina Valenti, 41, an auxiliary in a neat blue uniform as she sat recently with two colleagues, all on duty, drinking coffee in the town’s bar on a hot afternoon. “You see, here we are at the bar, we support the economy this way.” But what may be saving Comitini’s economy is precisely what is strangling Italy’s and other ailing economies throughout Europe.
On Wednesday, Italy’s lower house of Parliament gave final passage to a $74 billion austerity package aimed at eliminating Italy’s budget deficit by 2013. Too Important to Fail. Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth. Many Americans are not buying the recent stock market rally.
This is being reflected in multiple polls showing negative attitudes towards the economy and Wall Street. Wall Street is so disconnected from the average American that they fail to see the 27 million unemployed and underemployed Americans that now have a harder time believing the gospel of financial engineering prosperity. Americans have a reason to be dubious regarding the recovery because jobs are the main push for most Americans. A recent study shows that over 70 percent of Americans derive their monthly income from an actual W-2 job. What do the unemployment figures actually show? The awful unemployment numbers today came as no surprise to those of us who have been arguing these many months that George Osborne's economic strategy is disastrous for the British economy.
There was never the slightest prospect of a expansionary fiscal contraction in the depths of a once-in-a-century financial crisis. This is all likely to get a lot worse over the next few months. Unemployment rising, the number of jobs and total hours falling and rising unemployment durations. Australia business spending increases in second quarter. 1 September 2011Last updated at 06:46 A commodities boom has seen increased spending in Australia's mining sector Australian firms spent more money to expand their businesses in the second quarter, an indicator that they expect the economy to grow.
Harkin Announces Over $500,000 in Housing Grants. WASHINGTON, D.C. – Senator Tom Harkin (D-IA) today announced that grants totally $570,863 will be awarded to two housing agencies in Iowa. The funding comes from the United States Department of Housing and Urban Development’s (HUD) ROSS Service Coordinator Program (RSC) and Family Self Sufficiency Program (FSS). The funding will be used to hire Service Coordinators. The coordinators will work to promote the development of local strategies to support resident empowerment activities.
They will work with families to increase earned income, reduce the need for welfare assistance, help acquire access to appropriate assistance programs and make progress toward achieving economic independence. Mellonomics Creating Another Lost Decade. In April of this year, the Federal Reserve of St. Louis wrote: ” If the economy immediately generates 350,000 jobs a month—the pace of the late 1990s—four years would be needed to reach an unemployment rate of 5 percent, whereas at a rate of 210,000 jobs a month—the 2005 pace—11 years would be needed to achieve a 5 percent unemployment rate. ” Eleven years folks, that’s how long it will take IF….. if we can create 210,000 jobs per month. We are FAR, far from creating that many jobs. Poverty Rate Hits New High As Racial Inequality Deepens. It seems like an obvious sign of the times: America’s growing poorer.
For the third consecutive year, the country’s poverty rate has increased, according to new figures released from the Census. Number of the Week: Big Cuts in Manufacturing Capacity - Real Time Economics. Opinion - Image. Chart of the day: America’s surprisingly tiny small-business sector. Small-business voices: Owners talk regulation, health care and red tape - chicagotribune.com. September 08, 2011|By Kevin G.
OECD MAKES IT OFFICIAL: Growth Has Ground To A Halt, And Central Banks Need To Flood The World With Money. Many in U.S. slip from middle class, study finds - Newsroom: U.S. Senator Bernie Sanders (Vermont) Growth Engines: Ten Ideas to Help Small Businesses Create More Jobs - HOME - PolicyShop. Who are the real job creators?
The Small Business Administration reports that businesses with under 500 employees have created two out of every three net new jobs over the past 15 years. Even smaller businesses – “microenterprises” of less than 4 employees – account for 88 percent of firms, and could get the country to full employment if just one out of every three was able to hire a single new employee. Mayor Bloomberg Gives His Blessing to the September 17 Wall Street Protest.
"Six Lies" at Summit for a Fair...) Why we need student loan debt forgiveness. We have the jobs plan.
President Obama laid it out in front of joint session of congress and is now taking it on the road to appeal to the American people and trumpet up support. While we debate the particulars and generally praise Obama for his forcefulness and urgency in delivery, we ignore another potential crisis looming in the economic shadows. We need jobs now, absolutely, but if something isn’t done about the student loan debt crisis, we very well could be looking at turning this Great Recession into a full on depression.
US household income: Cutting the cake. Economist Explains Obama’s Job Act In One Simple Chart. European debt crisis: The chart that frightens. Under plan, UC tuition could rise by 16% a year. The University of California would raise student tuition by at least 8 percent - or as much as 16 percent - every year through 2016 under a plan that UC leaders will propose to the regents Thursday in San Francisco. Basic tuition could top $22,000 in just four years, not including other mandatory fees, books, room and board, if the regents adopt the idea at their November meeting as part of a multiyear budget plan. Undergraduate tuition is currently $12,192.
UC officials say the hikes will help cover $2.5 billion in additional funds the university needs to pay its bills and grow enrollment over the next four years. "A bold new approach is necessary to save the university from an irreversible decline into mediocrity," Executive Vice President Nathan Brostrom and Vice President Patrick Lenz wrote in their proposal to the regents.
State funding. Is the poverty rate even higher than we think? Eager Chinese Shoppers Flock to Paris Stores. Austeridiocy: Budget Cuts Take Money Out Of The Economy. Census poverty report: In tough times Americans 'double up' On Tuesday morning, the Census Bureau released a slew of disturbing information about the financial reality many Americans face.
The worst of it has been widely reported: From 2009 to 2010 poverty was up, median household income was down, and the number of people living without health insurance grew from 49 million to 49.9 million. Jobs Bill Aimed at Young Voters. Marxist Analysis of Crisis, Employment, Economy - Video. The Week in Review - Newsroom: U.S. Senator Bernie Sanders (Vermont) Record 46.2 million Americans live in poverty, Census Bureau says. House GOP proves Standard & Poor’s right. Bernanke: Housing and Households Are Hobbling Economic Recovery - Business. Ahead of President Obama's big job speech tonight, Federal Reserve Chairman has just finished delivering a speech on the state of the U.S. economy. With Record Number Of Americans Falling Into Poverty, Rand Paul Says The Poor Are Getting Rich. Census data revealed today that a record 46.2 million Americans were living in poverty in 2010.
People living in poverty, by state. U.S. States. What the Future Will Remember About America's Decline and Fall. A Sobering Economic Reminder From the Census Bureau - Jim Tankersley. BREAKING: Markets Whipsaw After Headlines About Austria Delaying Bailout Vote. California poverty rate rises in 2010 for fourth year in a row - latimes.com.