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Quote of the Day
“In the spirit of the American system, I just increased my wealth by purchasing a new box of checks from my bank.”
–H. Robert Schroeder
Amazon Denies Reports of Physical Store Plans
7. December 2009
Disappointing news, actually. A physical Amazon.com store would be quite a positive step, even if the reports claimed the initial locations would be in the United Kingdom. They’d probably quite successful, too.
A spokesman for the group said it had no plans to open physical stores after the Sunday Times reported the group was looking to [...]
Two Georgia Banks Shut by Regulators
4. December 2009
Regulators from the Federal Deposit Insurance Corporation closed two banks in Georgia on Friday, bringing the number of bank failures in the United States this year to 126.
A total of $961 million in deposits were shared by Buckhead Community Bank and First Security National Bank in Atlanta and Norcross, respectively. State Bank and Trust Co. [...]
Will Abu Dhabi Bail Out Dubai?
28. November 2009
The mounting debt in Dubai shook the world markets on Friday, leading the Dow Jones Industrial Average to close down 154 points and the Nikkei 225 to plummet 301 points. The situation has even been described by the Associated Press as a “debt crisis”.
Dubai wasn’t always in this situation; in fact, its future looked quite [...]
Surprise: GDP Grew Less in 3rd Quarter Than Claimed
24. November 2009
Typical. The Obama Administration gets political benefit from the highly-publicized better number and then it’s quietly revised downward later on.
The government originally claimed the GDP grew by 3.5% but now we’re being told it was actually 2.8%. That might still be the best quarter in about two years, but it’s based almost entirely on artificial [...]
National Unemployment Rate Rises to 9.7%; 26-Year High
4. September 2009
Missing: The millions of jobs Barack Obama promised his $787 billion “stimulus bill” would “create or save” in a “timely” manner.
Found: A 26-year high unemployment rate, with almost 10% of the American workforce without a job.
The economy shed 216,000 jobs during the month of August. It’s the fewest so far this year, but more than [...]
Atlanta Federal Reserve Chief: Real Unemployment Rate at 16%
26. August 2009
You see, the national unemployment rate is only a measure of percentage of the American work force currently out of a job. It doesn’t take into account the number of individuals who lost their jobs and then decided to drop out of the work force entirely, instead deciding to stay home.
What’s the real unemployment rate [...]
Surprise: Cash for Clunkers Rebate is Taxable
26. August 2009
Ladies and gentlemen, our public education system at work. People are shocked — shocked! — to learn that the $4,500 tax rebate they received in the Cash for Clunkers program is taxable. Every dollar of it.
The Cash For Clunkers program is adding to the activity at treasurers’ offices all around South Dakota. First, people were [...]
Surprise: Unemployment Rises Yet Again
20. August 2009
While the left may be signing “Happy Days Are Here Again” in an attempt to convince Americans that the recession is over and the Pelosi/Obama stimulus package was successful, reality is quite a bit bleaker. For the second straight week, initial unemployment claims increased at a higher rate than analysts expected.
Claims increased to 576,000, an [...]
Chicago Gov’t To Be Closed on Monday Due to Budget
15. August 2009
That bodes well for the government taking over our nation’s health care system, huh? We’re sorry you had a heart attack, but the government is closed today in order to deal with budget constraints.
The City of Chicago will basically be closed for business on Aug. 17, a reduced-service day in which most city employees are [...]
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13. December 2009
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