Economy
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4/15/2008 | Economy
The New York Times
The idea of turning farms into fuel plants seemed, for a time, like one of the answers to high global oil prices and supply worries. That strategy seemed to reach a high point last year when Congress mandated a fivefold increase in the use of biofuels.
But now a reaction is building against policies in the United States and Europe to promote ethanol and similar fuels, with political leaders from poor countries contending that these fuels are driving up food prices and starving poor people. Biofuels are fast becoming a new flash point in global diplomacy, putting pressure on Western politicians to reconsider their policies, even as they argue that biofuels are only one factor in the seemingly inexorable rise in food prices.
In some countries, the higher prices are leading to riots, political instability and growing worries about feeding the poorest people. Food riots contributed to the dismissal of Haiti’s prime minister last week, and leaders in some other countries are nervously trying to calm anxious consumers.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
4/14/2008 | Economy
The Wall Street Journal
Delta Air Lines Inc. and Northwest Airlines Corp. may unveil their long-delayed merger announcement as early as Tuesday, said people familiar with the matter, in the latest move by airlines to grapple with high fuel prices and a softening economy.
The deal could value Northwest at roughly $3 billion, these people said, though terms were still being negotiated. That would be well below Northwest's market value of more than $4.6 billion as of Feb. 1, reflecting the industry's worsening prospects in recent weeks.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
4/11/2008 | Economy, Taxes
Reuters
INDIANAPOLIS (Reuters) - Democratic presidential candidate Barack Obama will push on Friday for passage of a bill to put the huge pay packages of some U.S. corporate executives under greater scrutiny.
The Illinois senator has introduced "say-on-pay" legislation that would give investors more of a voice in setting executive compensation packages.
"We've seen what happens when CEOs are paid for doing a job no matter how bad a job they're doing. We can't afford to postpone reform any longer," Obama said in prepared remarks for delivery later on Friday.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
4/10/2008 | Economy
Yahoo Finance
NEW YORK (AP) -- The upward trend in energy prices showed no sign of abating Wednesday as gasoline set yet another record at the pump and crude oil topped $112 a barrel for the first time in the futures market.
The national average price of a gallon of regular unleaded gas rose 1.2 cents to a record $3.343 a gallon, according to a survey of gas stations by AAA and the Oil Price Information Service. With the peak summer driving season still to come and gas following crude higher, the fuel may well reach the retail price of $4 a gallon that the Energy Department has been forecasting.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
4/4/2008 | Economy
Yahoo Finance
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke and the Bush administration on Thursday defended the decision to rescue Bear Stearns amid questions by lawmakers about why the government was helping Wall Street investment houses but not people on Main Street.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
4/3/2008 | Economy
The New York Times
WASHINGTON — The first hint that President Bush might be detached from the nation’s economic woes was in February, when he conceded that he had not heard about predictions of $4-a-gallon gasoline.
Then Mr. Bush went to Wall Street to warn against “massive government intervention in the housing markets,” two days before his administration helped broker the takeover of the investment bank Bear Stearns.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/26/2008 | Economy, Presidential Issues
The New York Times
SANTA ANA, Calif. — Drawing a sharp distinction between himself and the two Democratic presidential candidates, Senator John McCain of Arizona warned Tuesday against vigorous government action to solve the deepening mortgage crisis and the market turmoil it has caused, saying that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.”
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Chuck Colson, Prison Fellowship
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Tom DeLay, Former House Majority Leader, United States House of Representatives
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Rick Green, President, Torch of Freedom Foundation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Larry Hunter, President, The Social Security Institute
Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Gary Marx, Executive Director, Judicial Confirmation Network
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/25/2008 | Economy
Reuters News Service
WASHINGTON - Sirius Satellite Radio's (NasdaqGS:SIRI - News) $4.59 billion purchase of rival XM Satellite Radio (NasdaqGS:XMSR - News) was given antitrust clearance on Monday as the Justice Department concluded consumers have many alternatives, including mobile phones and personal audio players.
Investors sent shares of both companies sharply higher even though the Federal Communications Commission must still approve the combination of the only two U.S. providers of satellite radio, a deal first announced in February 2007.
In a victory for Sirius Chief Executive Mel Karmazin, who lobbied hard for the deal, the Justice Department agreed the satellite radio companies face stiff competition from traditional AM/FM radio, high-definition radio, MP3 players and programming delivered by mobile phones.
"Competition in the marketplace generally protects consumers and I have no reason to believe that this won't happen here," Justice Department antitrust chief, Thomas Barnett, told a conference call with reporters.
The traditional radio industry, consumer groups and some U.S. lawmakers had criticized the deal, which would bring entertainers such as talk show host Oprah Winfrey and shock-jock Howard Stern under one roof.
The National Association of Broadcasters, which fought against the deal, said the Justice Department had granted XM and Sirius a "monopoly" and called the decision "breathtaking."
Sirius and XM, which are losing money, each currently charge subscribers about $13 a month for more than 100 channels of news, music, talk and sports.
New York-based Sirius' programming includes lifestyle guru Martha Stewart and NFL Football while Washington, D.C.-based XM is home to Bob Dylan's radio show and Major League Baseball.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/25/2008 | Economy, Presidential Issues
The New York Times
SANTA ANA, Calif. — Drawing a sharp distinction between himself and the two Democratic presidential candidates, Senator John McCain of Arizona warned Tuesday against vigorous government action to solve the deepening mortgage crisis and the market turmoil it has caused, saying that “it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers.”
Mr. McCain’s comments came a day after Senator Hillary Rodham Clinton of New York called for direct federal intervention to help affected homeowners, including a $30 billion fund for states and communities to assist those at risk of foreclosure. Mrs. Clinton’s Democratic opponent, Senator Barack Obama of Illinois, has similarly called for greater federal involvement, including creation of a $10 billion relief package to prevent foreclosures.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Chuck Colson, Prison Fellowship
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
Tom DeLay, Former House Majority Leader, United States House of Representatives
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Rick Green, President, Torch of Freedom Foundation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Dr. Janice Hollis, Bishop, Progressive Believers Ministries
Larry Hunter, President, The Social Security Institute
Bishop Harry R. Jackson, Senior Pastor, Hope Christian Church
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Gary Marx, Executive Director, Judicial Confirmation Network
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/20/2008 | Economy
Bloomberg.Com
Gold plunged the most since June 2006, leading a decline in commodity prices, on speculation the slump in the dollar will end as the Federal Reserve eases the pace of interest-rate reductions.
The UBS Bloomberg Constant Maturity Commodity Index fell 61.3866, or 4.1 percent, to 1,428.009 at 5 p.m. in New York, led by declines in soybeans, wheat, cocoa and crude oil. The index of 26 commodities has dropped in three of the past four sessions and is down 9.3 percent from a record on Feb. 29.
The Fed yesterday cut the overnight-lending rate 75 basis points to 2.25 percent, the sixth reduction since September, in a bid to avert a U.S. recession. Analysts had forecast a bigger cut to 2 percent, an expectation that helped spur commodities to record highs as investors sought a hedge against inflation by stocking up on raw materials.
``This is a knee-jerk reaction to the fact that the Fed only lowered by 75 basis points,'' said Michael Pento, a senior market strategist at Delta Global Advisors Inc. in Huntington Beach, California, which manages about $1.5 billion. ``That's not what people were looking for.''
The U.S. Dollar Index, down 5.9 percent this year, rose 0.8 percent, the biggest gain in almost six weeks. Before today, the index had dropped on the prospect of lower borrowing costs.
Inflation concerns had boosted demand for raw materials, sending the UBS Bloomberg index up 17 percent this year before today. That compares with a 9.4 percent decline for the Standard & Poor's 500 Index.
Dollar-Fueled Gains. The declining dollar had boosted demand for commodities, which become cheaper for buyers holding other currencies. Investors also purchased raw materials to act as a store of value, Pento of Delta Global said.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/19/2008 | Economy
Associated Press
NEW YORK (AP) -- Wall Street stormed higher Tuesday as investors, optimistic following stronger-than-expected earnings from two big investment banks, were also galvanized by the Federal Reserve's decision to cut interest rates by three-quarters of a percentage point. The Dow Jones industrial average soared 420 points, its biggest one-day point gain in more than five years.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/18/2008 | Economy
Breitbart.com
WASHINGTON (AP) - President Bush, trying to ease turmoil in financial markets, said Monday that his administration is "on top of the situation" in dealing with the slumping economy.
"One thing is for certain, we're in challenging times,' the president said after meeting with Treasury Secretary Henry Paulson and other senior economic advisers. "But another thing is for certain: we've taken strong decisive action."
The president commended the Fed for its urgent actions over the weekend. He said that "we've shown the country and the world that the United States is on top of the situation."
Bush, surrounded by his economic advisers at the White House, said his administration is monitoring economic developments closely.
"When need be, we'll act decisively," Bush said, without indicating any other steps his government might take.
Repeating his reassurances to the country, the president said that in the long run, the economy is going to be fine.
Bush spoke on a day of turmoil and plunging prices on global financial markets. Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/14/2008 | Economy
Bloomberg.com
March 14 (Bloomberg) -- The U.S. Senate rejected a proposal by Republican presidential candidate John McCain to place new restrictions on the congressional pet projects known as earmarks.
The vote came as the House and Senate passed separate $3 trillion budget blueprints for the fiscal year beginning Oct. 1 that clash on whether to raise taxes to pay for giving millions of families a one-year reprieve from the alternative minimum tax. The Senate version, approved 51 to 44 early today, includes a non-binding amendment calling for the extension of some of President George W. Bush's tax cuts that are slated to expire in coming years. The House plan doesn't.
The Senate's 71 to 29 vote to reject the earmark proposal was a setback for Arizona Senator McCain, who has made the fight against such spending an issue in his presidential campaign. McCain, who took a break from the campaign trail to cast votes yesterday on the budget, said his plan would have pared wasteful spending.
``This may be the last bastion in America where they don't get it, that Americans are sick and tired of the way we do business here in Washington,'' McCain said. ``We will continue to take our fight to the American people. I will have every town hall across this country talk about earmark and pork-barrel spending.''
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/7/2008 | Economy
Yahoo News
FRANKFURT, Germany (AP) -- The dollar sank to a new low Friday against the euro, which extended its first-ever rise above $1.54 after data showed U.S. job cuts hitting the biggest monthly number in five years.
The U.S. Labor Department said American employers cut 63,000 jobs in February -- the starkest sign yet that the U.S. is heading toward a recession or in one already.
Those fears pushed the 15-nation euro to $1.5463, the latest in a string of record highs before it settled back slightly to $1.5413 in afternoon European trading -- still above the $1.5370 it bought late Thursday in New York.
Also pushing up the euro were comments Thursday by European Central Bank president Jean-Claude Trichet, who made plain the ECB is more worried about inflation in the euro zone than the fallout from the rising euro.
That suggested the ECB's benchmark interest rate will remain at 4 percent for the coming months, even as the U.S. Federal Reserve and, possibly, the Bank of England cut their key rates.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/6/2008 | Economy
Breitbart.com
WASHINGTON (AP) - President Bush said Wednesday that the United States has to "get off oil" to reduce dependence on foreign suppliers and declared "it should be obvious" that high demand is creating painful gasoline prices.
Bush's assessment was at odds with that from the 13-nation Organization of Petroleum Exporting Countries, which said before he spoke that it would not put more oil on the global market because crude supplies are plentiful.
OPEC President Chakib Khelil told reporters in Vienna, Austria, that the problems in the U.S. economy were a key factor in the cartel's decision to hold off on any action.
"There is sufficient supply. There's plenty of oil there," he said.
In an address to the Washington International Renewable Energy Conference, Bush said, "It should be obvious to you all that the demand is outstripping supply, which causes prices to go up."
During a Middle East trip in January, Bush urged OPEC to increase production and help ease soaring gasoline prices. Bush also said on Tuesday that it's a "mistake to have your biggest customers' economies slowing down as a result of higher energy prices."
The White House said it disagreed with OPEC's decision to rebuff that request, and that the oil-producing nations themselves could be hurt as well.
Recommended Guests:
Karin Agness, Founder and President, Network of enlightened Women (NeW)
Barry Asmus, Senior Economist, National Center for Policy Analysis
David Bossie, President, Citizens United
Dan Celia, Host, "Financial Issues Live" Radio Program
Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
Joseph Farah, CEO, Founder, WorldNetDaily
James Gelfand, Senior Manager of Health Policy, U.S. Chamber of Commerce
Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
Joe Murray, Columnist, The Bulletin
Grover Norquist, President, Americans for Tax Reform (ATR)
Chuck Stetson, Co-founder and Managing Director, PEI Funds
Tony Strickland, Taxpayer Advocate
John Weiser, Board Member, Westminster Theological Seminary , In Medias Res
3/4/2008 | Economy
Breitbart.com
OPEC ministers gathering here for an output policy meeting insisted Monday that the cartel was not about to increase oil production, as the price of crude struck a record high of almost 104 dollars.
OPEC's president, Algerian Energy Minister Chakib Khelil, said the 13-member cartel which produces 40 percent of world oil would not consider an output hike at its official meeting in the Austrian capital on Wednesday.
His views were shared by Kuwait's acting oil minister, Mohammad al-Olaim, while Saudi Arabian Oil Minister Ali al-Nuaimi, whose kingdom is the world's biggest producer of crude oil and OPEC's most influential member, refused to address the media on arrival in Vienna.
Khelil, a traditional price hawk, even mentioned the possibility of an production cut, which hardline producers Venezuela and Iran are backing.
"The conference will study whether to maintain or reduce production," Khelil said in Vienna, adding that extra supplies were not needed since demand was not about to increase.
The only country capable of pushing through an increase in production to appease consuming countries would be kingpin Saudi Arabia.
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3/3/2008 | Economy
Reuters
SINGAPORE (Reuters) - Gold edged closer to the $1,000 an ounce mark on Monday, setting a record high for the fourth straight day after the dollar tumbled and crude oil held near an all-time high.
Silver jumped to $20 an ounce for the first time since November 1980 to track gold. Platinum and palladium held near their recent highs, while a firming yen ignited selling in yen-denominated Japanese precious metals futures.
Gold jumped as high as $983.90 an ounce, partly driven by purchases from Japanese speculators who took advantage of the dollar's drop to a three-year low against the yen. Gold was last quoted at $973.30/973.75 in New York on Friday.
Gold has gained around 18 percent in 2008 as investors shift some of their money into the precious metal on expectations of more interest rate cuts in the United States, volatile stock markets and fears of rising energy costs.
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Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
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Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
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2/29/2008 | Economy
Financial Times
The dollar fell to a fresh record low against the euro on Wednesday as Ben Bernanke signalled that the Federal Reserve is likely to cut interest rates again next month.
The single European currency breached $1.51 after the Fed chairman made it clear that the US central bank remained firmly focused on the risks to growth, in spite of some increase in inflation risk following a run of bad price reports.
The Fed “will act in a timely manner as needed to support growth and to provide adequate insurance against downside risks”, Mr Bernanke told Congress.
The Fed has cut rates five times since last summer, taking rates down from 5.25 per cent at the beginning of August to the current level of 3 per cent.
However, Mr Bernanke said rate cuts to date had only had limited effect in easing overall financial conditions, in particular in the housing market.
“It has been very difficult to lower long-term mortgage rates through Fed action,” he said, adding “what we have done has been mostly just to offset the tightening of credit” that would otherwise have taken place.
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2/29/2008 | Economy
My Way
WASHINGTON (AP) - President Bush said Thursday the country is not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts. "We acted robustly," he said.
"We'll see the effects of this pro-growth package," Bush told reporters at a White House news conference, acknowledging that some lawmakers already are talking about a second stimulus package. "Why don't we let stimulus package 1, which seemed like a good idea at the time, have a chance to kick in?"
Bush's view of the economy was decidedly rosier than that of many economists, who say the country is nearing recession territory or may already be there. "I'm concerned about the economy," he said. "I don't think we're headed to recession. But no question, we're in a slowdown."
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2/27/2008 | Economy
International Herald Tribune
Gasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesday of $100.88 a barrel.
The increases could not come at a worse time for the economy. With growth slowing, high energy prices that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could exacerbate the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.
"The effect of high oil prices today could be the difference between having a recession and not having a recession," said Kenneth Rogoff, a Harvard University economist.
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Phil Clements, Managing Director, Center for Christian Business Ethics Today, LLC.
Ward Connerly, Author/Founder and Chairman, American Civil Rights Institute
William Devlin, National President, Redeem The Vote
James Edwards, Cofounder, Olive, Edwards, & Cooper, LLC
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Lou Giuliano, Chairman, President and Chief Executive Officer (r, ITT Corporation
Colin Hanna, Colin Hanna, President, Let Freedom Ring
Lowman Henry, Chairman & CEO, Lincoln Institute of Public Opinion Research, Inc.
Larry Hunter, President, The Social Security Institute
Phillip Kim, Assistant Professor of Management and Human Resour, University of Wisconsin-Madison School of Business
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