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U.S. Debt Bomb to Detonate 5 Years Early

Michael Pento | Posted 05.25.2011 | Business
Michael Pento

A Treasury Department report to Congress last week stated that total U.S. debt will climb to $19.6 trillion by 2015, as opposed to the 2019 date previously estimated.

BP Oil Spill Could LIFT GDP: JP Morgan

Wall Street Journal | Luca Di Leo | Posted 05.25.2011 | Business

Annie Lowrey notes a J.P. Morgan Chase analysis suggesting the BP spill will actually raise the country's GDP, at least in the short term. "Cleaning u...

'13 Bankers' In 4 Pictures: Why Wall Street Profits Are Out Of Whack

James Kwak | Posted 05.25.2011 | Books
James Kwak

We're not saying that everyone has to agree with everything we say about these pictures. But they make clear what kind of financial system we have today. And they need some kind of explanation.

Iceland Blames ex-PM for Country's 2008 Economic Implosion

Yahoo! News | Rosa Brynjolfsdottir | Posted 05.25.2011 | Business

An official probe Monday said several former leaders, including an ex-premier, were guilty of "extreme negligence" in the lead-up to the 2008 financia...

What Matters to You About the GDP and Debt

Blythe McGarvie | Posted 05.25.2011 | World
Blythe McGarvie

GDP results showed a 3% increase over a year ago. Is this good news or bad news? In order to put the GDP in perspective it's important to understand what is driving the GDP.

Paul Krugman: Climate Change Economics, What Economists Agree On

The New York Times Magazine | PAUL KRUGMAN | Posted 05.25.2011 | Green

In what follows, I will offer a brief survey of the economics of climate change or, more precisely, the economics of lessening climate change. I'll tr...

U.S. Debt Poised To Overtake GDP In 2012

Bloomberg | Posted 05.25.2011 | Business


Pop Quiz: What Cuts the Deficit and Mobilizes the Base?

Frank Sharry | Posted 05.25.2011 | Politics
Frank Sharry

Give up? We thought so. The answer? Immigration reform. That’s right. Too many in the political class are looking in the rear-view mirror when i...

Economy Recovers Under Obama

Daniel Bruno Sanz | Posted 05.25.2011 | Business
Daniel Bruno Sanz

Retail sales unexpectedly climbed 0.3 % in February. In America's consumer driven economy, retail sales lead the way out of business recession and consequent double-digit unemployment.

1Q Economic Growth Weaker Than Originally Thought - Blame Unemployment

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — High unemployment isn't going away. The slow pace of economic growth shows the recovery is too weak to generate enough jobs for 15...

Fixing The Forgotten Deficit Can Fix The Scary Deficit

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

It is time to examine how much better off the majority might be if we balance trade as a means to balancing the budget.

Gross National Happiness

Matthew Anderson | Posted 11.17.2011 | Healthy Living
Matthew Anderson

Americans represent four percent of the world's population and sixty percent of the world's illicit drug usage. Why is America bailing out of its own culture at such an alarming rate?

PIGGS Problems Could Pepper U.S.

Dan Dorfman | Posted 05.25.2011 | Business
Dan Dorfman

PIIGS stands for Portugal, Italy, Ireland, Greece and Spain, five countries in the Euro-zone that foolishly borrowed way too much during good times and then ran into problems repaying their debt.

Doing More, Hiring Less

Max Fraad Wolff | Posted 05.25.2011 | Business
Max Fraad Wolff

Today's employment numbers, which were flat in February, meld well with yesterday's productivity numbers. We are seeing firms doing more and more without increasing hours and headcounts.

The 'R' Word Is Far From Dead

Dan Dorfman | Posted 05.25.2011 | Business
Dan Dorfman

Over the past month or so, talk of a double-dip recession has all but disappeared. But I've come across a trio of sharp economists who argue it's too soon to come to such a happy conclusion. Each, in fact, holds the view one could be looming on the horizon.

GDP 4Q: Economy Grew At 'Brisk' 5.9% Pace, But DON'T Expect It To Last

AP | JEANNINE AVERSA | Posted 05.25.2011 | Business

WASHINGTON — The recovery is losing steam. The economy is now likely expanding at just half the brisk 5.9 percent pace at which the government ...

Is the Next Financial Crisis Approaching? The Case of Public Debt

Georges Ugeux | Posted 05.25.2011 | Business
Georges Ugeux

China and other foreign countries will not endlessly finance the US budget deficit; China recently sold $34 billion of American treasuries, and now holds less US debt than Japan.

Obama Debt Commission: Erskine Bowles, Alan Simpson To Chair Panel, Says Obama Official

AP | PHILIP ELLIOTT | Posted 05.25.2011 | Politics

WASHINGTON — Determined to have a deficit commission with or without Congress' backing, President Barack Obama plans to announce on Thursday tha...

Toyota is a Challenge for Japan as a Whole

Georges Ugeux | Posted 05.25.2011 | World
Georges Ugeux

There is much more at stake here than the reputation of a company or even an industry -- it is the fundamental revision of Japan as a nation.

Forecasting with a Grain of Salt

Michael J. Panzner | Posted 05.25.2011 | Business
Michael J. Panzner

Bloomberg News is out with its latest monthly survey of economists' forecasts and, according to those polled, the U.S. economy "will grow 3 percent th...

Rich Countries' Foreign Aid Generosity

Posted 05.25.2011 | World

In his 2010 annual letter on behalf of the Bill and Melinda Gates Foundation, Microsoft-founder BIll Gates outlined the challenges facing foreign aid ...

Public Health Care Spending To EXCEED Private Insurance Spending In 2011

Wall Street Journal | PETER LANDERS | Posted 05.25.2011 | Home

For the first time, government programs next year will account for more than half of all U.S. health-care spending, federal actuaries predict, as the ...

Why GDP Is No Measure of Quality; and What We Can Do About it

Erik Rothenberg | Posted 05.25.2011 | Business
Erik Rothenberg

Gross Domestic Product and other so-called indicators of our country's economic health are meaningless at best and misleading and dangerous at worst.

GDP Roars, But Beggars Need to Eat

Dan Dorfman | Posted 05.25.2011 | Business
Dan Dorfman

What's really clear is that the impressive 5.7% growth rate, boosted by government stimulus and inventory replenishment, is unsustainable.

Like 5.7% GDP Growth? Pass A Real Jobs Bill.

Bill Scher | Posted 05.25.2011 | Politics
Bill Scher

Today's initial estimate of 5.7% annual rate of growth in the GDP for the last quarter of 2009 sure beats a kick in the teeth. And if we sustain this ...