The Associated Press: 13M get unexpected tax bill from Obama tax credit.
Wow. They can’t even get a tax cut right.
Archive
Category: Finance & BusinessData shows 61% drop in Wyo energy leasing | Wyoming Business Report.
Oil well near Shell, Wyoming
Please follow the link and read the report. Do not believe this administration when they tell you their goal is energy independence. Not only are they wasting incredible sums of tax money on “green energy” boondoggles, but at the same time they are discouraging domestic energy development. This is something to keep in mind as gasoline prices once again approach $3 per gallon. In 1981, Ronald Reagan removed obstacles to domestic oil and gas production such as windfall profits taxes. The result was lower prices for gasoilne for the next several years, which helped to fuel (pun intended) the longest, strongest economic recovery in American history. The Obama administration seems determined to do just the opposite, by pursuing policies that ensure higher energy prices for Americans. Their advocacy for uneconomical green schemes coupled with their aversion to domestic energy exploration seem destined to lead to higher prices, and perhaps even shortages of gasoline and diesel fuel. Barack Obama has recently been compared to Jimmy Carter in many unflattering ways. He should begin now to prevent the reappearance of the gas lines and closed stations that helped to doom Carter’s reelection effort of 1980.
gas line in Maryland, 1979
$100 Bill: The Fed Has a $110 Billion Problem with New Benjamins – CNBC. Please follow the link and read the article. I don’t think most Americans should worry about this, after all, when was the last time anyone saw a $100 bill?
New $100
Calculated Risk: ATA: Truck Tonnage Index increases in September: “Economy barely growing”.
Truck traffic, an economic indicator
Such a small increase in freight voulme, coming on the heels of a big drop the previous month, shows that the ecomony is still very slow and shows few signs of new life. It doesn’t look as though October’s numbers will be much better, a sign that retailers do not expect much of a Christmas shopping season.
19 iconic products that america doesn’t make anymore: Tech Ticker, Yahoo! Finance.
It is a sad fact that many of the jobs lost in the last recession will never come back to the United States. This is especially true of manufacturing jobs, which have been leaving the U.S. for 30 years or more. America needs manufacturing jobs, to ensure a skilled workforce that knows how to make things, not just stack them on shelves or move them around as numbers on a spreadsheet. It is critical to our economy, our middle-class way of life, and even our national security.
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- Levi’s San Francisco factory, no longer in use
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- The Chevrolet Corvette assembly plant, Bowling Green, KY.
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- Television plant in Mexico
Vanguard Endorses Obama, Democrats :: The Future of Capitalism.
Mr. Pennybags endorses Obama
Remind me again, which one is the party of Wall Street fat cats?
Greg Mankiws Blog: Barney Frank, Then and Now.
On eight different occasions, the Bush Administration sought legislation to rein in the reckless lending practices of Fannie Mae and Freddie Mac, only to be thwarted by Barney Frank and other House Democrats. Here is the money quote, from 2003:
”These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,” said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee.
Trucking Volume Collapses, Falls Most Month To Month Since March 2009.
Truck traffic, an economic indicator
This is not good news for the economy. I am seeing this every day in my job. Where we had more loads than our partner carriers could haul for us 3 or 4 months ago, now we have carriers begging us for freight. Truckload freight tonnage is a leading economic indicator. If tonnage is down, it means that manufacturing is slowing, retailers are not ordering products, and the economy in general is softening. Even the capacity crunch we faced in the spring was not a product of increasing shipments, so much as it was a case of carriers removing trucks from service in a poor market.
ATA truck tonnage chart, Sept. 2010
30,000 line up for housing vouchers, some get rowdy | ajc.com.
What do you expect, when the government offers a handout?
