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
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Edwards says he would not leave any permanent military bases in Iraq upon withdrawing the U.S. troops. However, he said in a September 2007 Foreign Affairs article, the United States will need to retain "quick-reaction forces in Kuwait and a significant naval presence in the Persian Gulf" as well as "some security capabilities" in Baghdad's Green Zone to guard the U.S. Embassy. In January 2007, Edwards said if he is elected, he will withdraw U.S. troops (NYT) who are training the Iraqi army and police within 10 months.
Edwards says that he would also convene "direct talks" with Iraq's neighbors, including Iran and Syria. He would also call a "multiparty peace conference" to end sectarian violence in Iraq. Edwards also criticized "war profiteering" in Iraq, and has said he would hold corporations like Halliburton and Bechtel accountable "for their wrongdoing."
Mike Gravel
Gravel favors an immediate withdrawal of U.S. troops from Iraq. If elected, Gravel says he will "call for a U.S. corporate withdrawal from Iraq and hand over reconstruction contacts to Iraqi businesses which will empower Iraqi nationals to reconstruct their own country." Gravel opposed the war from its start in 2002. In an April 2007 Democratic debate, Gravel encouraged Congress to pass a law "making it a felony to stay" in Iraq.
Dennis Kucinich
Rep. Kucinich (D-OH) is one of the sharpest critics of the Iraq war and one of the few congressmen who opposed it (PDF) in 2002. Kucinich's twelve-point plan for Iraq includes a complete withdrawal. Upon pulling out, Kucinich calls for an "international security and peacekeeping force to move in," led by the United Nations.
Kucinich would turn all U.S. contracting business in Iraq over to the Iraqi government and call on the international community for more reconstruction aid. Like many of his fellow candidates, Kucinich advocates a regional conference to help stabilize Iraq. He argues that the United States should then fund a national reconciliation conference under the auspices of the United Nations.
Kucinich introduced a House resolution in early 2007 "to end the occupation of Iraq immediately." That bill, which would request that the international community supply peacekeeping forces to "move in as our troops leave," has not yet been voted on. He criticized congressional lawmakers who favor ending the war but supported the White House's request for more funding.
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