Credit card companies are already finding loopholes in the credit card reform bill to ensure the reforms do not take a chunk out of their profits.
Wednesday, September 2, 2009
Tariffs for Faulty Chinese Tires
A recent recommendation by the U.S. International Trade Commission is dividing organized labor and tire industry representatives, pitting President Obama at the center of the debate.One of America's most powerful unions - the United Steel Workers - and the nation's second largest tire manufacturer - Cooper Tire & Rubber Co. - are both lobbying Obama on the same issue but are recommending entirely different courses of action.
Wednesday, September 2, 2009
How to Avoid Bankrupting the Nation (3 comments)
Last week, the White House Office of Management and Budget adjusted its previous 10-year budget projection of $7 trillion upwards by $2 trillion based on new economic forecasts, meaning that the government will spend $9 trillion more than it takes in over the next decade. The nation is obviously on a wholly unsustainable course - living increasingly in debt and off the good graces of foreign creditors.
Thursday, August 20, 2009
China Investing in U.S. Mortgages (1 comments)
Forecasting a recovery in the ailing U.S. housing market, the Chinese government is set to use a small portion of its massive sovereign wealth fund to invest in the American real estate market, according to Reuters.
China"-s sovereign wealth fund, like the vast majority of sovereign wealth funds around the world, was built on the back of America's out of control trade deficit.
Thursday, August 20, 2009
A New Biofuel
Algae has the potential to fuel the nation's vehicles while simultaneously trapping carbon dioxide emissions that contribute to global warming. Thus far, the technology is in its infancy, however, progress is being made.
Saturday, August 15, 2009
Pay Czar Put to the Test
Executive pay czar Kenneth Feinberg will face his first true test this week as seven companies that received extraordinary government bailouts are required to present their compensation plans for their top 25 executives.
Thursday, August 13, 2009
Banking on Overdraft Fees (1 comments)
In the midst of the worst recession since the Great Depression, with millions of Americans losing their homes and jobs, banks are scoring record-setting amounts of overdraft fees through the misfortune of their customers, The Financial Times reports.
Thursday, July 9, 2009
Homeless Families on the Rise in Summer
With the U.S. economy mired in the worst recession since the Great Depression, the number of families living on the streets is on the rise across America and further straining the budgets of already-strapped local governments.
Thursday, June 4, 2009
Americans Indifferent to the Loss of the American Dream (3 comments)
The most disconcerting aspect of GM's death spiral, however, is the fact that most Americans are generally indifferent to the idea. An April CNN poll found that 76 percent of those surveyed favored allowing GM to fail without anymore government aid.
"It's hard for anyone to argue our trade policy is working," said Sen. Sherrod Brown.
Sunday, April 19, 2009
American Businesses Waging War Against America (2 comments)
Big business is gearing up for what may be an epic battle with the Obama administration over its efforts to reform the practice of offshore tax deferrals which allow companies to avoid paying U.S. taxes on profits made overseas as long as they remain there.
Thursday, April 16, 2009
American Government Facilitating in U.S. Titans' Downfall (1 comments)
U.S. automakers Chrysler and General Motors are increasingly outsourcing North American production to Mexico while at the same time asking for more taxpayer money to stay afloat. Perhaps that worst part, however, is the government is basically encouraging the outsourcing, according to the Economic Policy Institute.
Sunday, April 12, 2009
Obama's Most Difficult Task
So, despite a fawning crowd of European citizens - when he visited Europe last July crowds in the hundreds of thousands were the norm - the continent's leaders may not be as receptive to the newly elected U.S. president.
Tuesday, March 31, 2009
"Free Trade." Translation: Whatever Helps Multinational Businesses (3 comments)
The hypocrisy of pundits, politicians and business leaders is amazing. Those aforementioned people are the first to decry anything done in the nations interest economically as "protectionism" and they are the same people distorting "free trade" by backing bailouts, stimulus spending, tax abatement and other trade distorting policies.
Thursday, March 26, 2009
The WTO Pulls One Over on Ron Kirk
The most important issue in this dispute would have effectively forced China to more severely crackdown on copyright pirates and counterfeiters. With little to no fear of prosecution by the Chinese government, there is virtually nothing to stop infringement on intellectual property rights.
Yet, USTR Ron Kirk inexplicably lauded the decision as if it was somehow beneficial to U.S. interests
Tuesday, March 24, 2009
Stimulating the American Auto Industry
A measure intended to boost domestic auto sales gained a huge amount of traction after House Speaker Nancy Pelosi threw her support behind the bill on Wednesday.
Wednesday, March 18, 2009
Solutions For Reversing America's Devastating Trends (1 comments)
"America is facing its greatest economic crisis since the Great Depression because it thought it could substitute debt to mask a shortfall in U.S. production," said AMTAC Executive Director Auggie Tantillo. "America will not be able to borrow its way out of this crisis; it will need to manufacture its way out to keep its standard of living."
Saturday, March 14, 2009
Time to Change the Failing Status Quo
As Bob Dylan once said, "The times, they are a-changing." The status quo of the past two decades is finally being challenged and the tide is turning in favor of a "fair trade" policy that puts American interests first rather than the failed policy of unfettered "free trade" which brought this nation the North American Free Trade Agreement, the World Trade Organization and other fatally flawed trade regimes.
Tuesday, March 3, 2009
Unlearned Lessons From History
They say that those who do not learn from history are doomed to repeat it. Perhaps the expression would be better said, "those that do not understand history are doomed to repeat it" because the Bush administration studied the history of the Algerian War and apparently learned nothing.
There are many parallels between the two conflicts.
Tuesday, February 24, 2009
Are We Opening the Door for Future Abuses of Power?
President Barack Obama is quite fond of telling the rest of the world that, with his election, the rule of law has been reestablished in America. But, has it really? Can we, as a nation, simply move on in the face of acknowledged war crimes by the previous administration and still pretend that justice is blind? What kind of precedent are we setting for future chief executives?
Thursday, February 19, 2009
Snatching Up American Assets (1 comments)
The allure of dirt cheap real-estate has attracted so much interest in China that many more trips are being organized, according to USA Today. Some are looking for investment property, some are buying homes for their children to live in when they attend American schools and some are hoping to have easier access to American citizenship - which owning property in America will not afford them.
Friday, February 13, 2009
A Legion of Rabid "Free Traders"
Obama has stockpiled his cabinet and the West Wing of the White House with men and women that have not only supported, but been instrumental in shaping the policies that have decimated the nation's manufacturing base over the past two decades. The American people were promised "change" but it appears that when it comes to trade, Obama will simply deliver more of the same.
Thursday, February 12, 2009
Two Americas (8 comments)
As the manufacturing capacity of the American economy has declined over the decades, the growing gap between the rich and the poor in the United States has continued to grow, creating what one-time presidential candidate John Edwards referred to as "two Americas."
Monday, February 2, 2009
Heinous Wall St. Bonuses
While Wall Street executives were hard at work running their companies into the ground and begging Congress to give them billions in taxpayer dollars, they were also rewarding themselves handsomely on the American taxpayer's dime.
Thursday, January 22, 2009
The American Dream is on Life Support (1 comments)
It seems in today's economy, no matter how fast Americans run or how far they stretch, upward mobility is firmly out of their grasps. For years it was assumed that America was home to the ultimate meritocracy - work hard, play by the rules and you can achieve the American Dream. Ever increasingly that seems like an unattainable ideal rather than a founding principal of this nation.
Tuesday, January 20, 2009
Thinking Outside the Box (1 comments)
Russ Feingold, Wisconsin's junior senator and a hero of the left, has made a career out of doing the unconventional. As evidenced by his campaign finance reform, the conduct of his own campaigns, the way he runs his office and his positions on issues, it is apparent Feingold has a knack for thinking outside of the box.