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.
SHARE 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.
(3 comments) SHARE Wednesday, September 2, 2009 How to Avoid Bankrupting the Nation
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.
(1 comments) SHARE Thursday, August 20, 2009 China Investing in U.S. Mortgages
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.
SHARE 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.
SHARE 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.
(1 comments) SHARE Thursday, August 13, 2009 Banking on Overdraft Fees
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.
SHARE 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.
(3 comments) SHARE Thursday, June 4, 2009 Americans Indifferent to the Loss of the American Dream
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.
(2 comments) SHARE Sunday, April 19, 2009 American Businesses Waging War Against America
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.
(1 comments) SHARE Thursday, April 16, 2009 American Government Facilitating in U.S. Titans' Downfall
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.
SHARE 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.
(3 comments) SHARE Tuesday, March 31, 2009 "Free Trade." Translation: Whatever Helps Multinational Businesses
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.
SHARE 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
SHARE 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.
(1 comments) SHARE Wednesday, March 18, 2009 Solutions For Reversing America's Devastating Trends
"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."
SHARE 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.