Quotes from Bloomberg Economic News
``Since 1949 the unemployment rate has never risen by this magnitude without the economy being in recession,'' John Ryding, chief U.S. economist at Bear Stearns Cos. in New York, said in a note to clients. ``We now put ourselves on recession watch.''
Factories have already slowed. ISM's manufacturing index for last month fell to 47.7, the lowest since April 2003, the purchasers group said this week.
Factory payrolls decreased by 31,000 after falling 13,000 a month earlier. Economists had forecast a drop of 15,000 in manufacturing employment. Builders reduced payrolls by 49,000 after cutting 37,000 jobs in November.
Government payrolls increased by 31,000 during the month, indicating private payrolls declined by 13,000.
Jan. 4 (Bloomberg) -- The Federal Reserve will increase the size of two scheduled auctions of emergency loans by 50 percent to $30 billion as part of a global attempt by central bankers to restore faith in the money markets.
NYT
Of 1,000 owners surveyed nationwide, only 28 percent said they felt economic conditions for their businesses were improving, while 65 percent said conditions were getting worse.
After inching down in recent weeks, average gas prices across the nation rose by 7.3 cents last week to $3.053 per gallon, 71.9 cents higher than the same period last year, the Energy Information Administration reported Wednesday.
Business Week
"Staying at [the $100] level will mean inflation and economic hardship," says Fadel Gheit, senior energy analyst for Oppenheimer Holdings (OPY). "The price has nothing to do with fundamentals, but it has a broad impact."
Here's a question for you. How many books on economics has your candidate read? How many has he WRITTEN? The best economist in the world can't convince someone to whom he can't explain the problem. It looks very like we are headed for a recession or a depression. Before you cast your all-important primary vote, shouldn't you find out who has the most education on economics? This is not one of those times when you basically get bragging rights. This time, it may make the difference between you keeping your job and house or living on the streets. Remember, if we ALL sink there will be no one to give you welfare. Even people who OWN their house could be dispossessed by incredibly high real estate taxes. I know everyone says he is a long shot, but PLEASE do yourself (and me) a favor and research Dr. Ron Paul. The house you save may be your own.
The Candidates on Iraq
Email To A Friend
Please fill in the following information and we'll email this link.
Clinton also opposes the establishment of permanent military bases in Iraq, although she, like Biden, does expect there to be a need for a "reduced residual force," perhaps stationed in Iraqi Kurdistan, even after troop redeployment. Clinton cosponsored Sen. Joe Biden's Iraq War Policy resolution in January 2007. In 2002, Clinton voted in favor of the invasion of Iraq, and has been widely criticized for her refusal to apologize for that vote. Still, she has said, "If I knew then what I now know, I would not have voted that way." A new book by Jeff Gerth and Don Van Natta Jr. of the New York Times, excerpted here, criticizes her for failing to read the ninety-page October 2002 National Intelligence Estimate (NIE) report, which contained several caveats about Iraq's WMD capabilities.
Christopher Dodd
Sen. Dodd (D-CT) has become a prominent critic of the Iraq war, although he too initially supported it. He has said repeatedly that "there will be no military victory in Iraq."
Dodd opposed Bush's troop surge plan and has called for a redeployment of U.S. troops. With Sens. Russ Feingold (D-WI) and Harry Reid (D-NV), Dodd backed a May 2007 amendment that would implement a deadline for troop withdrawal within ten months and cut off funding by mid-2008.
Dodd has said that he sees no need to create permanent U.S. military bases in Iraq, and says the United States already has "plenty of base capacity in the region."
John Edwards
As a senator in 2002, Edwards voted in favor of the invasion of Iraq, a move he later said he regretted making (WashPost).
He says that as president, he would end the war in Iraq. Edwards' plan for Iraq includes capping funding for anything more than a hundred thousand troops as a move against Bush's surge. He said in a MoveOn.org virtual town hall meeting that he would also "force an immediate withdrawal of forty thousand to fifty thousand troops, which should come out of the north and the south of Iraq."
Discuss