Folks, the most horrific prediction was given by the Federal Reserve. Six, count 'em, six years of high unemployment. From the Federal Open Market Committee:
If there is one report you will read on China, this is the one. The U.S. China Economic and Security Review Commission releases a report on China every year and it will make the hair on your head stand on end.
On its current economic trajectory the United States runs the risk of seeing millions of workers unemployed or underemployed for many years. As a society, we should find that outcome unacceptable. - Federal Reserve Chair Ben Bernanke
Yesterday a hearing was held and during JP Morgan Chase Home Lending CEO Mr. David Lowman's testimony, a protester yelled out the Chase Bank representative was committing perjury.
President Barack Obama's top adviser suggested to The Huffington Post late Wednesday that the administration is ready to accept an across-the-board, temporary continuation of steep Bush-era tax cuts, including those for the wealthiest taxpayers.
The infamous Bush tax cuts, what are they exactly? Below are the tax rates for 2010.
President Obama gave some good rhetoric after the G-20 meeting.
“It is undervalued,” Obama said of the yuan, speaking to reporters in Seoul after the meeting concluded. “And China spends enormous amounts of money intervening in the market to keep it undervalued.”
In case you missed it, China had a record surplus on trade.
Maybe it's because he has the queen of offshore outsourcing, Diana Farrell on his National Economics Council. Regardless, President Obama is wrong. India is indeed a poacher of U.S. jobs. How else do you think their offshore outsourcing industry is $50 billion a year, with 60% of that coming from the U.S. representing 1.32 million U.S. jobs lost.
Right now we have 17 million college graduates working as waitresses and sales clerks. We just saw in this 60 Minutes report PhDs, Masters degrees, people with advanced skills, grateful to get a part-time job at Target. We have 11 U.S. industries not employing Americans, U.S. workers, but where most workers are offshore or brought in as cheap labor.
Anyone else wondering how a President, who just received a red tidal wave that was a
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